TRANSSION(SH:688036) Chang Jiang Shang Bao·2025-11-13 23:52Core Viewpoint - Transsion Holdings, known as the "King of Mobile Phones in Africa," plans to list its shares in Hong Kong to enhance its international brand image and diversify its financing channels amid declining performance pressures [1][3]. Group 1: Financial Performance - For the first nine months of 2025, Transsion Holdings reported a revenue of 49.543 billion yuan, a year-on-year decrease of 3.33%, and a net profit attributable to shareholders of 2.148 billion yuan, down 44.97% [1][6]. - The company has experienced a continuous decline in net profit for six consecutive quarters since Q2 2024 [1][6]. - The gross profit margin decreased from 21.59% in the previous year to 19.47% in the first three quarters of 2025 [7]. Group 2: Market Position and Stock Performance - Despite the announcement of the Hong Kong IPO, Transsion's stock price fell by 1.31% on November 13, 2025, closing at 64.99 yuan per share, marking a nearly 38% drop from its peak of 104.9 yuan per share on September 25, 2025 [1][7]. - The company has underperformed the market, with a cumulative decline of 29.89% in 2025 [7]. Group 3: Shareholder Activity - As of the end of September 2025, the number of institutions holding shares in Transsion decreased by 609 from the previous quarter, with total shares held dropping from 941 million to 828 million [2][8]. - Major shareholders, including social security funds and pension funds, have reduced their holdings in the company [2][8]. Group 4: Future Plans and Use of Proceeds - The funds raised from the Hong Kong IPO will be allocated to AI technology research and development, international marketing expansion, brand enhancement, and general business purposes [3][4]. - The company is currently in discussions with intermediaries regarding the specifics of the H-share issuance and listing [3].