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China Fund News reporter Jiahe

Since Huawei became independent, there have been constant rumors about Honor's listing. On August 5, Honor responded to the rumors and said that it plans to launch the corresponding shareholding reform in the fourth quarter of this year and start the IPO process at an appropriate time afterwards.

Honor responds to listing plan

In response to the 21st Century Business Herald, Honor said in response to the listing plan that it has always adhered to the principle of open and transparent development and will continue to diversify its equity structure. At the same time, it plans to launch the corresponding shareholding reform in the fourth quarter of this year and start the IPO process at an appropriate time. Relevant financial data will be disclosed during the corresponding process.

Honor also pointed out that since January 1, 2021, the company has not received any support from the Shenzhen Municipal Government beyond that of ordinary enterprises.

It is reported that Honor will fly independently from Huawei in November 2020, and will be listed on the A-share market for the first time in November 2023. During this period, there were many rumors in the market that Honor was preparing to go public through a "backdoor listing", but they were eventually refuted.

Last November, Honor announced its listing path and latest executive appointments through an internal board announcement.

In the announcement, Honor stated that over the past three years, under the leadership of the board of directors and management team and the joint efforts of all employees, the company has achieved rapid development of strategy and business, continuously improved its governance structure, continuously optimized its management system, and greatly enhanced its overall competitiveness and market position.

At the same time, as Honor's plan to enter the public market is gradually implemented, the company's board of directors will be adjusted in accordance with the standards of listed companies, and the board members will gradually diversify to adapt to the company's governance and regulatory needs in the new development stage. Wu Hui will be elected by the company's shareholders and elected by the board of directors as the company's director and chairman, and the former chairman Wan Biao will serve as vice chairman.

The number of shareholders has increased to 15

It is reported that Honor is a smartphone brand officially launched by Huawei in 2013. The latest mobile phone quarterly tracking report released by International Data Corporation (IDC) shows that in the second quarter of 2024, the shipment volume of China's smartphone market was about 71.58 million units, an increase of 8.9% year-on-year, continuing the growth momentum. Among them, Honor ranked fourth in the market with a market share of 14.5%.

In November 2020, Huawei decided to sell the Honor business assets as a whole, and the acquirer was Shenzhen Zhixin New Information Technology Co., Ltd. At the same time, after the sale, Huawei will not own any shares of Honor, nor will it participate in its operation, management and decision-making.

Shenzhen Zhixin New Information Technology Co., Ltd. was jointly invested and established by Shenzhen Smart City Technology Development Group and more than 30 Honor agents and distributors including Telling Communications and Suning.com.

Tianyancha shows that Honor's shareholders have increased from 1 to 15, and the structure is relatively diverse, including local state-owned assets, industry chain suppliers, third-party capital, etc. Among them, BOE Group, one of Honor's mobile phone screen suppliers, and Smart Interaction1 Holding Spv Rsc Ltd, a foreign-funded enterprise with Middle Eastern background, have both invested in Honor.

The reporter noticed that the share prices of Tianyin Holdings and Aesop, which hold shares in Honor, rose sharply due to the news. As of the close of August 5, Aesop's share price hit the daily limit, and Tianyin Holdings rose by 7.6%.

Editor: Joey

Audit: Wooden Fish

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