Core Viewpoint - Transsion Holdings (688036.SH) is establishing a mobility division to explore two-wheeled electric vehicle (EV) business, targeting markets in Africa and other developing countries [1][2]. Group 1: Business Development - The two-wheeled electric vehicle business has been incubated internally for nearly three years, with project testing conducted in South Asia and Africa [2]. - Transsion is actively recruiting for various positions related to the mobility business in countries like Nigeria, Côte d'Ivoire, and Colombia, indicating a strategic push into this sector [2][3]. - Revoo, an independent electric motorcycle brand under Transsion, offers a range of models including Revoo A11, A12, C32, C32 Pro, and E52 [3]. Group 2: Financial Performance - In Q1, Transsion reported revenue of 13.004 billion yuan, a year-on-year decline of 25.45%, and a net profit of 490 million yuan, down 69.87% [4]. - The decline in performance is attributed to increased market competition and supply chain costs, with competitors like Xiaomi intensifying their presence in the African market [5][6]. - Despite a 5% year-on-year drop in shipment volume to 9 million units, Transsion maintains a 47% market share, although competitors like Xiaomi, OPPO, and Honor have seen significant growth in their shipments [6].

日前，有消息称传音控股已成立出行事业部，探索两轮电动车等相关业务，传音控股目前正在把两轮电 动车迅速在非洲和另外的发展中国家铺开。6月16日，新京报贝壳财经记者从接近传音控股知情人士获 悉，两轮电动车业务是传音控股内部孵化的一个项目，已经发展了近3年的时间，一直在南亚和非洲两 个项目做测试，此前也尝试过在其他地区测试，但因为整个研发和本地生产上存在一定难度，因此放弃 了该地区的测试。记者对此向传音控股进行求证，传音控股未予置评。(贝壳财经) ...

Recent Activities - Indonesia Discovery Program 2025: Healthcare is a three-day on-site visit program aimed at helping Chinese companies explore opportunities in the Indonesian healthcare market, scheduled for July 29-31 in Jakarta [2] Company Dynamics - TikTok's overseas monthly active users on mobile devices have surpassed 1 billion for the first time [3] - JD Logistics has reportedly recruited over 1,000 team members in Saudi Arabia [3] - AliExpress has launched a car sales business, initially offering Chinese electric vehicles in the Middle East [3] - Geek+ has received a listing notification from the China Securities Regulatory Commission, indicating plans to list in Hong Kong [4] - The European Central Bank President Christine Lagarde's visit to China signals potential expansion of autonomous driving services in Europe [4] - Trip.com has opened over 1,100 overseas positions across 75 cities in 23 countries, aiming for a significant increase in international revenue [5] - Ant Group's Ant Financial has initiated the application for a stablecoin license in Hong Kong [6] - XPeng Motors aims to introduce advanced driver assistance systems in Hong Kong [7] - Chery plans to use Hong Kong as a new starting point for international capital markets [7] - Leap Motor has officially entered the Hong Kong market and is planning localization in Europe and Southeast Asia [7] - Changan Automobile has established nine out of twenty planned overseas factories and is expanding into over 100 countries [8] - GAC plans to enter the Argentine market by the second half of 2025 [8] - TSMC's construction plans for new factories in Japan and Germany may be adjusted due to local market conditions [8] - TikTok is set to expand its investment in the UK to approximately £140 million, creating over 500 new jobs [9] - Transsion's TECNO has formed a strategic partnership with MCR Group to enter the Spanish market [9] - CnEnergy International has signed strategic cooperation agreements for solar projects in Zambia [9] Macro Policies & Industry Data - In the first five months of 2023, China's electric vehicle exports increased by 19%, and industrial robot exports surged by 55.4% [12] - China's trade with Africa has grown significantly, with an average annual growth rate of 14.2% since the establishment of the China-Africa Cooperation Forum [12] - In the first five months, China's automobile exports reached 2.49 million units, a year-on-year increase of 7.9% [13] - The Hong Kong government is actively seeking to attract more Chinese companies to list in Hong Kong [13] - The interconnectivity project between mainland China and Hong Kong's rapid payment systems is progressing smoothly [13] - The Yangtze River Delta region has seen significant growth in cross-border e-commerce and high-end equipment exports [14] Investment and Financing - Yige Cloud has completed a nearly 100 million yuan Pre-B round of financing to enhance its AI-driven enterprise office support platform [15] - Yinghan Power has secured several million yuan in Pre-A+ financing to develop new training devices for professional sports [15] - Liuxing Technology has completed several million yuan in Pre-A financing to advance its intelligent three-dimensional perception technology [15]

Group 1 - TECNO, a brand under Transsion Holdings, has announced a strategic partnership with MCR Group, a Spanish technology wholesaler [1] - The collaboration aims to introduce AIoT smart ecosystem products into the Spanish market [1]

Summary of Transsion Holdings Conference Call Company Overview - **Company**: Transsion Holdings - **Industry**: Mobile Technology and Consumer Electronics Key Points Product Launch and Sales Performance - Transsion is expected to significantly boost shipment volumes with new product launches scheduled for late May to early June 2025, particularly in the high-end Techno series which has shown strong sales performance [2][4][8] - The company anticipates a gradual recovery in shipment volumes during June and July, validating the inventory destocking efforts from Q1 2025 [4] Market Dynamics - The African market is crucial for Transsion, accounting for less than 40% of its revenue, with a low smartphone penetration rate of approximately 50% [2][5] - Despite challenges, the African market has shown steady growth, being the fastest-growing region globally for nine consecutive quarters [5] - The network structure in Africa primarily relies on 3G, which limits internet business development; however, improvements in infrastructure and decreasing costs are expected to drive future growth [6] Economic Influences - The demand in emerging markets is influenced by the US dollar index and costs, with significant declines observed in 2022-2023 due to US interest rate hikes impacting local currencies and purchasing power [7][10] - Rising food prices and storage costs have pressured Transsion's performance, but material cost pressures are expected to ease by 2025 [10] Competitive Advantages - Transsion's competitive edge in Africa stems from localized supply chains, product designs, and channel strategies, allowing for high cost-performance products tailored to local needs [11][15] - The company has developed products specifically for local markets, such as cameras optimized for African consumers and gaming phones for Indonesia [3][15] Long-term Growth Potential - Emerging markets exhibit a youthful population structure, indicating strong long-term purchasing power and growth potential [12] - The company is investing steadily in R&D, with sales expenses remaining high; however, profit growth is expected to accelerate with rising revenues [13][14] Future Outlook - Transsion is positioned at a turning point, with expectations of significant growth in shipments and performance in Q2 and Q3 2025, driven by technological innovations and product enhancements [21][22] - The mobile internet business, although slow to develop, shows potential for growth, particularly through platforms like HUG Games, which is expected to see a 20%-30% increase in 2025 [20] Additional Insights - The company has plans to introduce high-end models, including foldable phones, to enhance brand image, despite limited sales in lower purchasing power markets [17][18] - The African home appliance market is still developing, but there are expectations for growth in energy storage products and simple appliances [19] This summary encapsulates the key insights from the conference call, highlighting Transsion Holdings' strategic initiatives, market dynamics, and future growth potential.

TrendForce集邦咨询是一家全球高科技产业研究机构，研究领域横跨存储器、AI服务器、集成电路与半 导体、晶圆代工、显示面板、LED、AR/VR、新能源（含太阳能光伏、储能和电池）、AI机器人及汽车 科技等，提供前瞻性行业研究报告、产业分析 【TrendForce】 根据TrendForce集邦咨询最新调查，2025年第一季全球智能手机生产总数达 2.89亿支，虽然较2024年同期减少约3%，但各品牌生产表现相对平稳。 其中，中国第一季的销售得益于政策红利，带动销量微幅成长。展望第二季生产表现，因国际形势 的不确定性，市场需求受到抑制，各品牌的生产表现预估持平第一季。 各主要品牌表现： 以下文章来源于TrendForce集邦 ，作者TrendForce TrendForce集邦 . Xiaomi (小米，包括子品牌Redme及Poco)第一季产量近4,200万支，排名稳居第三。该品牌高中 低产品布局完整，加上补贴政策带动，第一季表现不俗。另一方面，Xiaomi「人车家一体化」的 产品生态链也进一步拉升该品牌的市场定位，有助于高端智能手机销售。 第四名：OPPO | | | 第一名：三星 Samsung（三 ...

June 12, 2025 产业洞察 根据TrendForce集邦咨询最新调查， 2025年第一季全球智能手机生产总数达2.89亿支，虽然较2024 年同期减少约3%，但各品牌生产表现相对平稳 。其中，中国第一季的销售得益于政策红利，带动销 量微幅成长。展望第二季生产表现，因国际形势的不确定性，市场需求受到抑制，各品牌的生产表现 预估持平第一季。 | Ranking | Brand | Production | QoQ | Market share | | --- | --- | --- | --- | --- | | 1 | Samsung | 64 | 21% | 22% | | 2 | Apple | 48 | -40% | 17% | | 3 | Xiaomi | 42 | -7% | 14% | | 4 | OPPO | 27 | -26% | 9% | | 5 | Vivo | 24 | -16% | 8% | | 6 | Transsion | 22 | -20% | 7% | 各主要品牌表现： 三星（ Samsung ） 苹果（ Apple ） Apple（苹果）随着新机铺货进入尾声，第一季生 ...

Core Viewpoint - Transsion Holdings, once the king of mobile phones in Africa, is now facing significant challenges in maintaining its market position due to increased competition and declining financial performance [2] Group 1: Financial Performance - In Q1 2025, Transsion reported revenue of 13.004 billion yuan, a year-on-year decline of 25.45%, and a net profit of only 490 million yuan, down 69.87% year-on-year [2] Group 2: Competitive Landscape - Domestic brands such as Xiaomi, OPPO, and Honor have intensified their efforts in the African market, leading to a decline in Transsion's market share. For instance, Xiaomi's shipments grew by 32% year-on-year, while Transsion's shipments fell by 5% [3] - Competitors have adopted similar distribution models as Transsion, enhancing their appeal to younger consumers with stylish designs and better specifications [3] - The smartphone penetration rate in Africa is increasing, with consumers demanding higher-end features, an area where Transsion struggles to compete [3] Group 3: Market Expansion Challenges - Transsion has had limited success outside of Africa, facing fierce competition from brands like Xiaomi and OPPO in emerging markets such as India and Southeast Asia [4][5] - The smartphone market is becoming saturated, making it increasingly difficult for Transsion to expand its market presence [5] Group 4: Supply Chain Issues - Rising supply chain costs have significantly impacted Transsion's profitability, with prices for DRAM and NAND Flash increasing by 13%-20% [6][7] - Global logistics costs have also risen, further squeezing Transsion's profit margins [7] Group 5: R&D Investment - Transsion has historically focused more on marketing than on research and development, with R&D expenses accounting for only 3.66% of revenue in 2024, compared to 6.6% for Xiaomi and 20.8% for Huawei [8] - The company’s reliance on low-cost strategies limits its ability to invest in R&D, which is crucial for innovation and competitiveness [8] Group 6: Brand Perception and Diversification - Transsion is perceived as a low-end brand, with only 12% brand recognition among middle-class consumers in Africa, significantly lower than competitors like Samsung and Apple [9] - The company has struggled to create a cohesive ecosystem similar to Xiaomi's, limiting its ability to support high-end product transitions [10] Group 7: AI Initiatives - Transsion is attempting to leverage AI to enhance its competitiveness, including the development of a localized AI voice assistant and partnerships with companies like Alibaba Cloud [11][12] - The introduction of AI technologies aims to improve user experience and facilitate a shift towards higher-end products, although more substantial efforts are needed to solidify its market position [12]

Core Insights - The Latin American smartphone market experienced a year-on-year decline of 4% in Q1 2025, ending six consecutive quarters of growth, with total shipments reaching 33.7 million units [1] Company Performance - Samsung maintained its leading position with a shipment of 11.9 million units, reflecting a year-on-year growth of 7% [1] - Xiaomi ranked second with shipments of 5.9 million units, achieving a year-on-year increase of 10% for the second consecutive quarter [1] - Motorola fell to third place with a shipment of 5.2 million units, experiencing a year-on-year decline of 13% [1] - Honor saw a year-on-year growth of 2%, with shipments reaching 2.6 million units, moving up to fourth place [1] - Transsion ranked fifth with shipments of 2.1 million units, marking a significant year-on-year decline of 38%, representing its first drop in this region [1]

Core Insights - The Latin American smartphone market experienced a 4% year-on-year decline in Q1 2025, ending six consecutive quarters of growth, with total shipments reaching 33.7 million units [1][3][5] Group 1: Market Performance - Samsung maintained its leading position with 11.9 million units shipped, a 7% increase year-on-year, driven by strong demand for entry-level models A06 and A16 [1][5] - Xiaomi ranked second with 5.9 million units shipped, a 10% increase, supported by the continued popularity of the Redmi 14C4G and Note14 series [1][5] - Motorola fell to third place with 5.2 million units shipped, a 13% decline, due to its reliance on low-end products like G15 and G05 [1][5] - Honor rose to fourth place with 2.6 million units shipped, a 2% increase, thanks to strong performance from the X series [1][5] - Transsion ranked fifth with 2.1 million units shipped, experiencing a significant 38% decline, marking its first drop in the region [1][5] Group 2: Market Trends and Challenges - Economic uncertainty, particularly concerns over tariff increases, has severely impacted the smartphone market in Latin America, leading manufacturers to tighten aggressive sales strategies and retailers to reduce inventory [3][7] - The market showed a clear polarization, with growth concentrated in entry-level and high-end segments, while the mid-range market, which accounts for 78% of total shipments, remains a key battleground [3][7] - Brazil was the only major market in the region to see a year-on-year increase in shipments, growing by 3% to 9.5 million units, driven by increased investment from Chinese brands like Honor and Xiaomi [5][7] - Mexico, the second-largest market, saw an 18% decline in shipments, attributed to intense local competition and increased inventory levels [5][7] - Central America experienced its first decline in seven quarters, down 7%, due to inventory buildup and slowing market demand [5][7] Group 3: Future Outlook - Canalys predicts a slight decline of 1% in the Latin American smartphone market for 2025, influenced by global economic uncertainties and potential inflation [7][8] - Manufacturers are expected to focus on maintaining lean and flexible inventory management, optimizing product portfolios, and enhancing consumer experience to remain competitive in a redefined growth environment [8]