Wu Hui, former chairman of Shenzhen Water Group, is expected to join Honor and serve as chairman to promote the company's listing process

According to Jiemian News, Honor Terminal Co., Ltd. recently welcomed Wu Hui, the former chairman of Shenzhen Water Affairs (Group) Co., Ltd. to join. It is possible that Wu Hui will serve as the chairman of Honor Terminal Co., Ltd.

It is reported that Wu Hui has announced on November 17 Resigned as legal representative of Water Group. Water Affairs Group is a state-owned enterprise in Shenzhen Municipality, formerly known as Shenzhen Water (Group) Co., Ltd. established in 1981. In order to facilitate management, the legal representative and chairman of the state-owned enterprises under Shenzhen State-owned Assets are the same person.

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. However, the Enterprise Leadership Management Office of the Shenzhen State-owned Assets Supervision and Administration Commission responded that it was "uninformed of the specific situation", while Honor has no response yet.

The report also stated that since Honor has not yet carried out share reform, according to the regulations of the China Securities Regulatory Commission, it will take several years to officially go through the IPO process,

so Honor plans to "backdoor listing" .

▲ Screenshot of the original report

According to reports from Leifeng.com, Honor has publicly denied the rumors of "backdoor listing" Yes, but Honor did have plans for a backdoor listing before, and former chairman Wan Biao had been in contact for negotiations. Honor employees revealed that Honor’s listing plan will be further delayed. Honor’s previous statement in employee meetings and channels is that Honor’s launch will be completed in 2025 or in the third quarter at the latest

According to previous reports on this site, the recent report data released by the analysis agency Canalys shows that, Honor returned to the top spot in smartphone shipments in mainland China with a market share of 18% in the third quarter of 2023, with a total of 11.8 million units shipped, thanks to the competitiveness of its products and channels

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