Zhu Yiming from China Electronics Corporation (CEC) succeeds Su Zhenming as board chairman of Amoi Electronics Co., Ltd. (SHSE: 600057).

Amoi Electronics New President Lu Zhenyu will also take the place of Zhang Fengnian, who just resigned and retired, announced the telecom terminal and consumer electronics products manufacturer.

Zhu Yiming was formerly a top executive of CEC, the effective controller of Amoi Electronics. His accession is regarded as a signal that the latter is gaining stricter control and stronger support from parent, which just provided CNY 1.27 billion of financial subsidies for Amoi Electronics in partnership with other shareholders.

As an exchange, Amoi Electronics pledged some stake to CEC. Its board secretary Lu Dong reveals that the subsidies will be put into the company's pillar mobile phone business.

In the second round of TD-SCDMA terminal bidding invitation by China Mobile Ltd. (SEHK: 0941 and NYSE: CHL), Amoi Electronics got a bid for 19,000 units, and in the first round of CDMA terminal bidding invitation by China Telecom Corporation Ltd. (NYSE: CHA and SEHK: 0728), it won 20,000 units of high-end mobile phones.

Source:SinoCast