Honor responds to IPO rumors: joint-stock reform will be carried out in the fourth quarter and IPO will be launched in due course

According to news on August 5, since Honor became independent three years ago, there have been rumors of an IPO from time to time. In response, Honor officially responded today that it will always adhere to the principle of open and transparent development and will continue to diversify its ownership structure. Honor plans to initiate the corresponding shareholding reform in the fourth quarter of this year and launch the IPO process in due course, and will disclose relevant financial data in the corresponding process. In addition, from January 1, 2021 to the present, Honor has not received "support beyond ordinary enterprises" from the Shenzhen government. It is reported that Honor issued an announcement in November last year stating that in order to achieve the next stage of the company's strategic development, the company will continue to optimize its equity structure, attract diversified capital, and promote the company's entry into the capital market through initial listing. Honor CEO Zhao Ming even confirmed: We will definitely go public in China, and backdoor listing has never been an option for Honor. At that time, Honor also announced high-level personnel changes. Wu Hui, the former chairman of Shenzhen Water (Group) Co., Ltd., will serve as Honor's director and chairman, Wan Biao will serve as vice chairman, and Zhao Ming will remain CEO. It is worth noting that Honor was valued at about 100 billion when it became independent from Huawei. People familiar with the matter said that the valuation will be even higher now.

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