Honor: Plans to carry out shareholding reform in the fourth quarter of this year, and then launch the IPO process in due course

According to news from this website on August 5, in response to rumors related to listing, Honor today responded to the "Science and Technology Innovation Board Daily" saying: It will always adhere to the principle of open and transparent development and will continue to diversify its shareholding structure. Honor plans to launch corresponding shareholding reforms in the fourth quarter of this year and launch the IPO process in due course. Honor will disclose relevant financial data in the corresponding process. From January 1, 2021 to the present, Honor has not received “support beyond ordinary enterprises” from the Shenzhen government.

1. After the Honor new product launch conference in November last year, Honor CEO Zhao Ming said in an interview that Honor will be listed in China. The specific listing plan will be determined by the shareholders and the board of directors. As CEO, his main job is to do a good job business.

2. Last year, internal Honor documents showed that in order to realize the company’s next stage of strategic development, the company will continue to optimize its ownership structure, attract diversified capital, and promote the company’s entry into the capital market through initial listing.
3. According to previous reports on this site, on November 20 last year, Wu Hui, the former chairman of Shenzhen Water (Group) Co., Ltd., joined Honor Terminal Co., Ltd. in October of the same year and will serve as chairman.
4. Wu Hui resigned as the legal representative of the Water Group on November 17. Water Affairs Group is a state-owned enterprise in Shenzhen Municipality, formerly known as Shenzhen Water (Group) Co., Ltd. established in 1981. For the convenience of management, the legal representative and chairman of the state-owned enterprises under Shenzhen State-owned Assets are the same person.
5. Another senior executive of a Shenzhen state-owned company revealed that one of Wu Hui’s main tasks at Honor is to promote the company’s listing process.
6. Regarding Wu Hui’s appointment as Chairman of Honor, Zhao Ming explained that if Honor wants to enter the capital market, it must improve the board of directors in accordance with the requirements of the capital market. After Mr. Wu joins, the board of directors will become more diverse. He also added: "We come from a business background and need diversification of the board of directors and more diversified professionals to join to make decision-making more accurate and scientific."

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