年营收超680亿，“非洲手机之王”冲刺港股上市

Core Viewpoint - Transsion Holdings is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its competitiveness and international brand image while utilizing international capital markets for diversified financing [2][4]. Group 1: Company Overview - Transsion Holdings was established in 2013, focusing on the African market with localized innovations such as deep skin tone beautification and multi-SIM capabilities, quickly becoming the top mobile phone vendor in Africa by 2016 [2]. - The company owns well-known mobile brands TECNO, itel, and Infinix, as well as digital accessory brand oraimo, home appliance brand Syinix, and after-sales service brand Carlcare [3]. Group 2: Market Position and Financial Performance - According to IDC, Transsion is projected to hold a 14% share of the global mobile phone market in 2024, ranking third globally, and is expected to lead in smartphone shipments in Africa, Pakistan, Bangladesh, and the Philippines [3]. - In 2024, Transsion achieved a revenue of 68.715 billion yuan, a year-on-year increase of 10.31%, with a net profit of 5.549 billion yuan, a slight increase of 0.22% [3]. - The mobile phone segment generated 63.197 billion yuan in revenue, reflecting a 10.20% year-on-year growth [3]. Group 3: Challenges and Strategic Response - Transsion is facing short-term performance challenges, with a revenue of 49.543 billion yuan in the first three quarters of 2025, a decline of 3.33%, and a net profit of 2.148 billion yuan, down 45% [3]. - The company reported a decrease in gross margin due to market competition and supply chain costs, indicating plans to adjust pricing and product structure to maintain financial health [3][4]. - The decision to initiate the H-share listing is seen as a strategic move to address performance pressures and optimize development structure, providing stable funding and enhancing brand recognition in international markets [4].