New Stock News | Honor responds to listing rumors: Plans to start stock reform in the fourth quarter of this year and then start the IPO process at the appropriate time.

On August 5th, in response to the reports related to its listing, Honor stated that it always adheres to the principles 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 then timely start the IPO process. Honor will disclose relevant financial data during the process. In addition, Honor stated that since January 1, 2021, apart from the financial support usually provided to enterprises, the company has not received any additional support from the Shenzhen government. It is reported that since last year, there have been occasional rumors in the market that Honor will go public through a reverse merger. Honor had indirectly denied the rumor of "reverse merger". In November 2023, Honor announced that in order to achieve the next stage of strategic development, the company will continuously optimize its ownership structure, attract diversified capital, and push the company to the capital market through an initial public offering. Honor CEO Zhao Ming had previously stated clearly that going public through a reverse merger has never been Honor's choice, and the company will definitely go public in China in the future. In terms of valuation, in 2020, Shenzhen Zhixin New Information Technology acquired Honor, valuing Honor at $13.8 billion. When rumors of independent listing surfaced in the first half of 2022, the capital market valued Honor at up to $45 billion (over 320 billion RMB).