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Opening price of 53 yuan, "King of Africa" TRANSSION listed on the science and technology board

TRANSSION was listed on the Shanghai Stock Exchange's Science and Technology Board today. The company's stock code: 688036, the opening price of 53 yuan, 50.78% higher than the issue price of 35.15 yuan, the market value of 42.4 billion yuan. According to the previous prospectus disclosure, the IPO plans to raise 3.01 billion yuan for the transmission of the mobile phone manufacturing base project, mobile phone production base (Chongqing) project, mobile Internet system platform construction project, Shanghai mobile phone R&D center construction project, Shenzhen mobile phone and home appliance R & D center construction project, market terminal information construction project and supplementary liquidity. It is worth mentioning that on September 28, there were media reports that TRANSSION was infringed by Huawei due to copyright ownership. It is reported that the main reason for Huawei to sue TRANSSION is that the startup screen of some models of TRANSSION uses Huawei's screen. The same batch of sued by Shenzhen Taihenguo Technology Co., Ltd., Huizhou Aifutuo Technology Co., Ltd., Shenzhen Zhixun Ketuo Technology Co., Ltd. are all sound transmission companies. According to the news report, on September 29, the staff of the TRANSSION Board of Directors confirmed that the company was indeed sued by Huawei. The reason was that Huawei claimed that TRANSSION infringed the copyright. Huawei claimed the amount of 20 million. "We saw the media. The report said that the case was filed, but we have not yet received the official documents of the court.” The staff member said that the company’s lawsuit was normal and would not affect TRANSSION’s listing on the Science and Technology Board on September 30. The Southern Metropolis reported that the TRANSSION person told the Southern Reporter that "that (prosecuted by Huawei) is only something circulating on the Internet. We have not received the lawsuit from the court. After receiving the formal legal documents, if a certain amount is reached, , we will make an announcement." TRANSSION is the first Chinese mobile phone brand manufacturer to enter Africa, and is known as the "king of mobile phones in Africa". The company is mainly engaged in the design, research and development, production, sales and brand operation of smart terminals with mobile phones as the core. The main products are TECNO, itel and Infinix mobile phones. The sales areas are mainly concentrated in Africa, South Asia, Southeast Asia, Middle East and South America. Emerging Markets. In 2017, TRANSSION's branded mobile phones have a market share of 45.9% in Africa. From 2016 to 2018, the operating income of the African market accounted for 88.62%, 76.86% and 77.30% of TRANSSION's total revenue, respectively. In addition, according to IDC's previous statistics, TRANSSION's global market share reached 7.04%, ranking fourth; India's market share reached 6.72%, ranking fourth; Africa's market share was as high as 48.71%, ranking first.