New Stock News: Shenzhen Transsion Holdings Co., Ltd. (688036.SH) plans to seek a second listing in Hong Kong, raising approximately HK$7.8 billion in funds.

According to informed sources, Shenzhen Transsion Holdings Co., Ltd., the largest mobile phone retailer in Africa, is considering a secondary listing in Hong Kong. The sources said that Transsion, listed in Shanghai, is in talks with advisors on a potential fundraising plan of about $1 billion (approximately HK$7.8 billion), but the specific size and timing have not been determined. Shenzhen Transsion Holdings Co., Ltd. is a mobile phone manufacturer originated from Shenzhen and thriving in Africa. In the first quarter of 2025, Shenzhen Transsion Holdings Co., Ltd. had an operating income of 13.004 billion yuan, a year-on-year decrease of 25.45%; net profit attributable to shareholders was only 490 million yuan, a sharp decrease of 69.87% year-on-year, marking the largest decline in quarterly net profit since its listing. It is reported that Shenzhen Transsion Holdings Co., Ltd. landed on the Sci-Tech Innovation Board in September 2019, with the majority of its revenue coming from mobile phone sales. The company has attracted capital for its high market share in the African market and rapid expansion in underdeveloped regions. However, according to Canalys statistics, in the fourth quarter of 2024, Transsion accounted for 49% of the shipments in the African market. Yet, according to data shared by the President of Xiaomi Group, Lu Weibing, in the first quarter of 2025, Transsion's market share of shipments in Africa dropped to 47%, a decrease of 5% year-on-year. On the other hand, Xiaomi's market share in Africa was 13%, an increase of 32% year-on-year, making it the third largest mobile phone brand in the African market after Transsion and Samsung.