Transsion Holdings targets H-share listing, governance overhaul

Shenzhen Transsion Holdings will hold its first extraordinary general meeting in 2025 to approve critical resolutions for a proposed H-share listing on the Main Board of the Hong Kong Stock Exchange. The company plans to issue H-shares, constituting no more than 10% of its total share capital post-issuance (before exercising over-allotment options), with an initial public offering in Hong Kong and international placement. The H-shares will be ordinary shares with a par value of RMB 1.00 per share, denominated in RMB but subscribed in foreign currency.

The company's board proposes to use the net proceeds from the H-share offering for AI research and development, international marketing expansion, brand enhancement, expansion of product categories and mobile internet ecosystem, and general working capital. The resolution package also includes a proposal to transition Transsion Holdings into an overseas-listed company and to authorize the board to handle all related matters.

Additionally, Transsion Holdings will revise its articles of association and internal governance documents, including those related to independent directors, external guarantees, external investments, and connected transactions, to align with the H-share listing requirements. The company will also seek approval to appoint Tianjian International Certified Public Accountants Co., Ltd. as its auditor for the H-share listing and its first accounting year post-listing. The board also intends to clarify the roles of its executive and independent non-executive directors.