Chinese smartphone maker Honor moves closer to listing as A-share market perks up

China’s fourth-largest smartphone maker Honor took an important step towards a domestic stock market debut on Thursday by filing documents with securities regulators.

The company completed initial public offering (IPO) counselling recordation, the formal filing of pre-IPO guidance with the China Securities Regulatory Commission (CSRC). The step is required for companies seeking to list mainland shares, known as A shares.

The Shenzhen-based company, a spin-off from smartphone and telecommunications-equipment maker Huawei Technologies, was established in 2020 with a registered capital of 3.24 billion yuan (US$4.50 billion). Since its separation, it has risen to become a formidable rival to its former parent, ranking as the fourth-largest smartphone maker in the mainland market in 2024, according to market researcher Canalys’ 2024 report.

The listing move comes amid signs of a recovery in the A-share market in the second quarter after a slow start to the year, according to global consultancy firm Deloitte.

“We are pleased to see more activity in the A-share market” in the second quarter and first half overall, said Dick Kay, national leader of the capital market services group at Deloitte. “This demonstrates the success of regulators’ efforts to restore market confidence and improve the quality of IPO candidates and issuers.”

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