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on september 30, china business news learned from honor that wan biao had recently resigned from the company’s vice chairman and other related positions due to personal reasons.

wan biao previously served as president of huawei's wireless product line, president of the terminal company, president of the consumer business mobile broadband and home product line, and chief operating officer of the consumer business. in 2020, he served as chairman of honor terminal co., ltd., responsible for core departments such as supply chain.

honor is currently in a critical period of shareholding reform. at the beginning of august, honor responded to the listing rumors and planned to launch the corresponding shareholding reform in the fourth quarter of this year and launch the ipo process in due course.

regarding wan biao's resignation, honor told reporters that it will not affect the company's normal operations. "thanks to mr. wan biao for his outstanding contributions to the company. under the leadership of the board of directors and management team, the company will continue to bring innovative products and experiences to consumers."

as for where he will be after resigning, wan biao exclusively told reporters, "currently, i mainly spend time with my family at home."

behind the personnel changes

in november last year, wu hui, the former chairman of shenzhen water (group) co., ltd., joined honor terminal co., ltd. as chairman, while wan biao changed from chairman to vice chairman.

it is reported that one of wu hui’s main tasks at honor is to promote the company’s listing process.

according to public information, wu hui graduated from wuhan university and worked in the general office of the shenzhen municipal party committee from 1996 to 2007. he later served as deputy director of the general office of the hubei provincial party committee, deputy secretary of the xianning municipal party committee, and deputy mayor of the municipal government, starting in 2021. served as chairman of the water group.

at that time, honor insiders told reporters that wan biao was still a member of the core management and had not left the company.

in november 2020, honor officially became independent from huawei. shenzhen zhixin new information technology co., ltd. announced the completion of the comprehensive acquisition of business assets related to the honor brand. from the perspective of honor's management framework, personnel from huawei's system cover multiple core departments such as management, marketing, supply chain, and r&d.

wan biao was also a veteran in the huawei system. he previously served as president of huawei's wireless product line, president of the terminal company, president of the russian region, president of the consumer business mobile broadband and home product line, and chief operating officer of the consumer business. in 2020, he served as chairman of honor terminal co., ltd., responsible for core departments such as supply chain.

regarding the company's operations, honor ceo zhao ming once told reporters that the honor management team has absolute autonomy in all aspects of corporate operations, business strategies, investments, etc., and shareholders do not participate in specific operations and management.

"currently, shareholders are mainly financial investors. regarding the development strategy of honor's business, the company's operations are fully authorized by the management team. any shareholder will pay attention to the company's sp (strategy plan) and bp (business plan). business plan), we benchmark bp every year and complete it according to bp’s goals,” zhao ming said.

countdown to share reform

behind multiple rounds of financing, news about honor’s listing continues to spread. in august this year, honor responded to listing rumors and planned to launch corresponding shareholding reforms in the fourth quarter of this year and launch the ipo process in due course.

in other words, wan biao's resignation comes at a critical period of honor's shareholding reform. china business news reporter noticed that after the introduction of china mobile in august, honor underwent industrial and commercial changes again in september.

tianyancha information shows that honor added hangzhou weitong equity investment partnership (limited partnership) as a shareholder on september 11. related information shows that the company is a china guoxin holding company. the specific investment amount has not been publicly disclosed by both parties.

according to public information, china guoxin holdings co., ltd. was established with the approval of the state council on december 22, 2010. in early 2016, it was identified by the state-owned enterprise reform leading group of the state council as one of the two central enterprises in the pilot state-owned capital operation company. a wholly state-owned company that performs the duties of a state-owned capital investor within the scope of state authorization.

so far, honor's shareholders have increased to 17, and the types of shareholders include local state-owned assets, industrial chain suppliers, third-party capital, etc. honor's last two rounds of strategic financing were completed in november 2022 and august 2024 respectively, adding boe, cicc capital private equity, china guoxin holdings, guosen capital, bao investment group, rosy fable, china mobile and other shareholders .

regarding its state-owned background, honor also publicly stated this year that it has not received "support beyond ordinary enterprises" from the shenzhen government since its establishment.

at present, the mobile phone market is still in the stock market game stage. idc shows that in the second quarter, china’s smartphone market shipped approximately 71.58 million units, a year-on-year increase of 8.9%. among them, honor ranks fourth in the domestic mobile phone market with a market share of 14.5%. from the perspective of competition in the global market, honor’s next biggest challenge is whether it can continue to seize the market overseas. in addition, the comprehensive return of huawei's flagship models has also brought uncertainty to the market.

it is reported that honor has set a goal of shipping 100 million mobile phones per year by 2026, a 75% increase from 2023, and becoming one of the world's three largest mobile phone manufacturers by 2028.

"mr. wan biao recently resigned from the company's vice chairman and other related positions due to personal reasons. we thank mr. wan biao for his outstanding contributions to the company and wish him good health and all the best!" honor told reporters.