Chinese local government supports Honor's IPO with funding, tax breaks, and overseas expansion assistance.

Chinese smartphone maker Honor, a former Huawei unit, receives support from Shenzhen's local government for its IPO, including R&D funding, tax breaks, and help to expand overseas. The backing aims to boost Honor's investor appeal ahead of its financial market debut and may enable Shenzhen to exit its investment. Honor, valued at 100bn yuan ($13.8bn) when acquired from Huawei in 2020, plans to list on China's A-share market and become a top three global smartphone manufacturer by 2028, shipping 100 million handsets annually by 2026.

August 05, 2024
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