"Science and Technology Innovation Board Daily" October 31 news (Reporter Huang Xinyi) Honour's stock reform is making progress. Reporters from "Science and Technology Innovation Board Daily" learned that Honour has attracted investments from China Telecom, funds under CICC Capital, funds under cornerstone, Te Fa Fund, as well as investment platforms for agents (Jinshi Xingyao) and other investors.

From the investment list, this round of financing covers companies in the industry's upstream and downstream ecosystem. In addition to operators, agent platforms have also joined. It is understood that Jinshi Xingyao is an investment platform for Honour's channel partners, managed by CICC Jinshi Investment Management. In addition, Te Fa Fund is a special fund managed by Shenzhen Te Fa Group. The predecessor of Shenzhen Te Fa Group was Shenzhen Special Economic Zone Development Company, the earliest large-scale comprehensive state-owned enterprise group established in Shenzhen.

In response to this round of financing, Honour responded to the "Science and Technology Innovation Board Daily" stating that Honour always adheres to the principle of open and transparent development, continuously promoting the diversification of its shareholder structure. The participation of China Telecom, funds under CICC Capital, funds under cornerstone, Te Fa Fund, and the new round of investment platform for agents (Jinshi Xingyao) investors aligns with this established direction.

Previously, China Mobile had already invested in Honour. With the inclusion of China Telecom, this means that the two major domestic operators have become shareholders of Honour.

In addition, on September 11, Honour added Hangzhou Wei Tong Equity Investment Partnership (Limited Partnership) as a shareholder. According to related information, this company is a China Guoxin Holding Corporation subsidiary. China Guoxin Holding Corporation was approved by the State Council on December 22, 2010, and in early 2016 was designated as one of the two central enterprises to pilot state-owned capital operation companies by the State-owned Enterprise Reform Leading Group of the State Council, serving as a wholly state-owned company performing the duties of a state-owned capital contributor within the authorized scope of national authority.

The completion of the new round of financing also signifies Honour's ongoing progress with the stock reform in the fourth quarter. Honour has previously told reporters from the "Science and Technology Innovation Board Daily" that it plans to launch the corresponding shareholding reform in the fourth quarter of this year, and subsequently initiate the IPO process at the appropriate time. Honour will disclose relevant financial data during these processes and will continue to diversify its shareholder structure.

According to IDC data, in the third quarter of 2024, the Chinese smartphone market shipped approximately 68.78 million units, a 3.2% year-on-year increase, maintaining year-on-year growth for four consecutive quarters. The market shares of vivo, Apple, Huawei, Xiaomi, and Honour are 18.6%, 15.6%, 15.3%, 14.8%, and 14.6% respectively.

Since becoming independent in November 2020, Honor has been operating independently for nearly four years. Honor has also reached a crucial milestone - going public. Tianyancha shows that Honor has 17 shareholders, including local state-owned assets, industry chain suppliers, third-party capital, etc., with a relatively diverse structure. One of Honor's mobile screen suppliers, Orient Group Incorporation, and the Middle Eastern background foreign enterprise Smart Interaction1 Holding Spv Rsc Ltd have both invested in Honor.

According to relevant regulatory requirements, after completing the shareholding reform, Honor will be able to enter the process of "initial public offering counseling" and formally strive to enter the capital markets.

For Honor, in the capital markets that emphasize profits and growth, there needs to be a "new story" to tell. Recently, Honor has taken a series of actions. After releasing the AI operating system MagicOS 9.0 last week, they announced the new generation AI phone Magic 7 series yesterday. They also announced that the Honor GT will be an independent product line aimed at online channels, inheriting the internet smartphone attributes and role positioning before Honor's independence.

In the future, if Honor successfully goes public, it will be the second mainstream mobile phone manufacturer to go public in China after Xiaomi.