TRANSSION(SH:688036) 3 6 Ke·2025-12-03 03:21Core Viewpoint - Transsion Holdings has submitted its prospectus for a listing on the Hong Kong Stock Exchange, aiming to establish an "A+H" dual listing structure after already being listed on the STAR Market [1] Financial Performance - In the first nine months of 2025, Transsion Holdings reported revenue of 49.5 billion RMB, a year-on-year decrease of 3.33%, and a net profit of 2.148 billion RMB, down 45% [7] - For the first half of 2025, the company generated revenue of 29.08 billion RMB, a decline of 15.86% compared to the same period last year, with a net profit of 1.242 billion RMB, down 56.63% [5][6] - The revenue for 2022, 2023, and 2024 is projected to be 46.596 billion RMB, 62.295 billion RMB, and 68.715 billion RMB respectively, with corresponding net profits of 2.467 billion RMB, 5.588 billion RMB, and 5.597 billion RMB [4] Market Position - Transsion Holdings is the market leader in several emerging markets, holding a 61.5% market share in Africa and 22.8% in the Middle East, with a global emerging market share of 24.1% [3] - The company is recognized as the "King of Africa" in the mobile phone industry, leveraging its strong brand recognition to expand into mobile internet services and IoT products [3] Shareholder Activity - The controlling shareholder recently cashed out 1.866 billion RMB by selling 22,807,011 shares at a price of 81.81 RMB per share [15] - The shareholding structure as of September 30, 2025, shows significant holdings by various investment funds, with the largest being Shenzhen Transsion Investment Co., Ltd. at 47.15% [14] Future Outlook - The company anticipates a compound annual growth rate (CAGR) of 6.7% in revenue from 2024 to 2029 in the emerging markets segment [3] - The mobile phone segment remains the primary revenue driver, contributing 89.8% of total revenue in the first half of 2025 [6]