Shenzhen Transsion Holdings Co., Ltd., known as the "King of Africa", officially submitted an application for the issuance and listing of H shares (overseas listed foreign shares) to the Hong Kong Stock Exchange.On the same day, a draft version of the application materials was published on the website of the Hong Kong Stock Exchange, starting the key process of dual listing of "A shares + H shares". CITIC Securities serves as the exclusive sponsor for this issuance, and JP Morgan serves as the financial advisor. If successfully listed, it will provide more sufficient capital support for its globalization strategy.
Transsion Holdings was founded in Shenzhen in 2013. With mobile phones as its main business line, it is deeply involved in more than 70 emerging markets such as Africa, South Asia, and Southeast Asia. In 2024, mobile phone sales will reach 201.4 million units.
Relying on its differentiated strategy to maintain its position as the "King of African Mobile Phones" - Africa's smartphone market share will exceed 40% in 2024, ranking first for five consecutive years. It also ranks first in smartphone shares in markets such as Pakistan and Bangladesh (both exceed 30%).
It owns three major mobile phone brands to accurately match different needs:
Tecno:Positioning the mid-to-high-end market, focusing on high-end design and technological breakthroughs (such as folding screens, ultra-thin mobile phones, etc.);
Infinix:Targeting young consumers, focusing on fashionable design and cost-effectiveness, it is equipped with a deeply customized XOS operating system;
itel：Focusing on the mass market, emphasizing reliability and high cost performance, it has a market share of 82% in feature phones under $100.
In addition to mobile phones, Transsion has also built a rich ecosystem of "smart terminals + Internet services + peripheral products". The hardware side covers TWS headsets, power banks, smart TVs, kitchen appliances, two-wheeled electric vehicles, etc.
The average monthly active users of the self-developed Transsion OS will exceed 270 million in June 2025.It is equipped with pre-installed software such as the Palm Store application store and AHA Games game center; it also provides mobile Internet services through the Boomplay music platform.
It should be noted that although Transsion has previously had deep roots in markets such as Africa, it has faced multiple challenges in recent years, especially as domestic companies such as Xiaomi and Honor are also vigorously exploring overseas markets.
Data shows that in the first quarter of 2025, Transsion's African smartphone market share dropped from 52% to 47%, with shipments declining 5% year-on-year, making it the only company with negative growth among the local TOP5 brands.
Other domestic overseas brands, Xiaomi (share 14.4%, growth rate 32%), Honor (growth rate 283%), and realme (growth rate 89% in 2024) are constantly eroding their market share.