On October 7, Transsion Holdings (02636.HK), known as the "King of African Phones," announced that the company plans to globally offer 86.6483 million H shares, subject to whether the over-allotment option is exercised.

Of this, the Hong Kong public offering initially offers 8.6649 million H shares, subject to reallocation, accounting for approximately 10.0% of the total number of offer shares initially available for subscription under the global offering. The international offering initially offers 77.9834 million H shares, subject to reallocation and depending on whether the over-allotment option is exercised, accounting for approximately 90.0% of the total.

The company will conduct its subscription from October 7 to October 12, with the expected pricing date on October 13. The offer price will be between HK$35.3 and HK$38.8 per offer share, with a board lot of 100 shares. CITIC Securities is the sole sponsor. The H shares are expected to commence trading on the Hong Kong Stock Exchange on October 15.

Assuming the over-allotment option is not exercised and the offer price is at the median of HK$37.05, the net proceeds from this global offering will be approximately HK$3.1181 billion.

The cornerstone investors of Transsion Holdings include Singapore's sovereign fund GIC, E Fund, BYD's subsidiary Jinxing Global, MediaTek's subsidiary Digimoc, Longsys, Millennium, BOC Wealth Management, and a total of eleven institutions, collectively subscribing to approximately HK$1.2455 billion.

According to public information, Transsion Holdings (Shenzhen Transsion Holdings Co., Ltd.) was established in 2013 and is a provider of smart terminal products and mobile internet services. Transsion Holdings is primarily engaged in the design, research and development, production, sales, and brand operations of smart terminal products centered on mobile phones. It owns three major brands, TECNO, Infinix, and itel, with a sales network covering emerging markets in Africa, South Asia, Southeast Asia, the Middle East, and Latin America.

Data from Frost & Sullivan states that in 2025, based on mobile phone sales volume, the company ranks first in Africa with a market share of 53.1%.

Previously disclosed financial data shows that from 2023 to 2025, the company's operating revenue was RMB 62.295 billion, RMB 68.715 billion, and RMB 65.591 billion, respectively. Net profit was RMB 5.587 billion, RMB 5.597 billion, and RMB 2.605 billion, respectively. The gross profit margin declined from 23.2% in 2023 to 20.9% in 2024, and further dropped to 18.7% in 2025, hitting a new low in nearly three years.

The net cash flow from operating activities during the same periods was RMB 11.89 billion, RMB 2.848 billion, and RMB 1.42 billion, respectively, showing a continuous downward trend.

In terms of revenue, the company's revenue is still dominated by mobile phones. In 2025, Transsion Holdings' mobile phone revenue was RMB 58.45 billion, accounting for 89.1% of total revenue, of which smartphones contributed RMB 54.82 billion, accounting for 83.6%; mobile internet service revenue was RMB 940 million, accounting for 1.4%; IoT products and other revenue was RMB 6.20 billion, accounting for 9.5%.

In 2025, revenue from the African market was RMB 24.75 billion, accounting for 37.7%, and emerging Asia-Pacific market revenue was RMB 23.9 billion, accounting for 36.4%. The revenue proportions from the Middle East, Latin America, and Central and Eastern Europe markets were 9.4%, 8.0%, and 5.4%, respectively.

In the first half of 2026, the company achieved revenue of RMB 35.431 billion, a year-on-year increase of 21.85%; net profit was RMB 1.773 billion, a year-on-year increase of 46.22%; net cash flow from operating activities was negative RMB 5.861 billion.

From a business segment perspective, Transsion Holdings' smartphone business revenue in the first half of the year was RMB 28.177 billion, feature phone revenue was RMB 1.543 billion, and other business revenue was RMB 5.683 billion. By region, overseas revenue was RMB 35.353 billion, while domestic revenue was RMB 51 million, with overseas markets remaining the main source of the company's revenue.