Today, the acquirer of the Honor brand issued a joint statement in the “Shenzhen Special Zone News” that Shenzhen Zhixin New Information Technology Co., Ltd. has signed an acquisition agreement with Huawei Investment & Holding Co., Ltd. to complete the full acquisition of Honor business assets.
The statement pointed out that the acquisition can maximize the protection of the interests of consumers, channels, suppliers, partners, and employees; it is also an industry complementarity. All shareholders will fully support New Honor and let New Honor focus on resources, brand, production, Channels, services, etc., draw on the advantages of all parties and participate in market competition more efficiently.
Shenzhen Zhixin New Information Technology Co., Ltd. was jointly invested and established by Shenzhen Smart City Technology Development Group and more than 30 Honor agents and distributors. Once the sale is complete, Huawei no longer holds any shares in the New Honor Company.
It is worth mentioning that Shenzhen Smart City Technology Development Group, wholly-owned by Shenzhen SASAC, holds 98.6% of the shares, and Shenzhen State-owned Assets Cooperative Development Private Equity Partnership holds 1.4%. According to industrial and commercial data, Shenzhen Zhixin was established on September 27, 2020, with a registered capital of 100 million yuan.
The statement stated that changes in ownership will not affect the direction of Honor’s development, and Honor’s senior management and team will remain stable. Distributors and agents who invest in New Honor also promise that they will only enjoy the financial return on investment in the future, and will follow the market principle of fair trade in business, and enjoy the same opportunities as other distributors and agents.
Today, Huawei’s official website also issued a statement stating that at a difficult time when industrial technology elements are unsustainable and consumer business is under tremendous pressure, in order to allow the continuation of Honor channels and suppliers, Huawei Investment & Holding Co., Ltd. has decided to sell Honor business assets as a whole. , The acquirer is Shenzhen Zhixin New Information Technology Co., Ltd. Once the sale is complete, Huawei will not hold any shares or be involved in any business management or decision-making activities in the new Honor company.