SIASUN(SZ:300024) Zhong Guo Jing Ying Bao·2025-06-27 14:18Core Viewpoint - Honor Technology Co., Ltd. has officially initiated the process for its A-share IPO by completing the counseling registration with the Shenzhen Securities Regulatory Bureau, marking a significant step towards entering the capital market [1][2]. Listing Progress and Organizational Adjustments - Honor has a registered capital of 32.239 billion yuan, with its major shareholder being Shenzhen Zhixin New Information Technology Co., Ltd., holding 49.55% of the shares [2]. - The shareholder ecosystem of Honor includes 23 entities, such as Shenzhen Zhixin, Guoxin Capital, China Mobile, and China Telecom, creating a diversified collaborative network [2]. - The IPO counseling will occur in three phases from June 2025 to March 2026, focusing on internal control, financial training, and compliance with securities regulations [3]. - Honor's CEO, Li Jian, has made strategic adjustments to the management team and organizational structure to pave the way for the IPO [3][4]. Strategic Focus on AI Ecosystem - In March 2025, Li Jian announced a strategic shift towards becoming a leading AI terminal ecosystem company, with a three-phase AI strategy [5]. - Honor plans to invest 10 billion USD (approximately 72.8 billion yuan) over the next five years in its "Alpha Strategy," with annual AI investments reaching 15 billion yuan [5][6]. - The company has established new departments for AI and software, with a workforce of 2,600 in the AI sector [6]. Product Development and Market Expansion - Honor has launched several new products, including the Honor Power smartphone and the Honor 400 series, which have shown promising sales performance [7]. - The company has seen significant growth in overseas markets, with sales in regions like Latin America, the Middle East, and Southeast Asia increasing by over 50%, and in Southeast Asia, growth exceeding 100% [7][8].