Magna responds to rumors of listing: planning to start shareholding reform in the fourth quarter and start the IPO process in time

Newsjoy has been highly anticipated since its listing.

In response to the listing plan, Newsjoy said in a latest response to 21st Century Business Journal on August 5th: "Newsjoy adheres to the principle of open and transparent development, and will continue to maintain a diversified shareholding structure. Newsjoy plans to launch the corresponding shareholding reform in the fourth quarter of this year and launch the IPO process in a timely manner. Newsjoy will disclose relevant financial data in the process."

At the same time, Newsjoy also pointed out that since January 1, 2021, Newsjoy has not received any support beyond that for ordinary enterprises from the Shenzhen municipal government.

Looking back on Newsjoy's development, Newsjoy officially separated from Huawei in November 2020. In the following three years and more, the industry has repeatedly spread rumors that Newsjoy will "go public" by "borrowing a shell".

It wasn't until last November that Newsjoy's internal board of directors released a document announcing its listing path and the latest appointments of senior executives.

The document at the time said: "In order to realize the company's strategic development in the next stage, the company will constantly optimize its shareholding structure, attract diversified capital, and promote the company's listing by going public. With the planning of the company's gradual listing on the capital market, the company's board of directors will be adjusted according to the standards of a public company. The board members will gradually diversify to meet the governance needs and regulatory needs of the company in the new stage."

This means that Newsjoy has officially dispelled the rumors of its listing by "borrowing a shell" for a long time. Senior executives include Zhao Ming, CEO, and Wanbiao, vice chairman.

CEO Zhao Ming of Newsjoy has repeatedly stated in interviews with the media: "Letting Newsjoy's capital diversify is what our major shareholders and shareholders expect. As CEO, my core responsibility is to do my job well and better support shareholders and the board of directors in this regard."

Now, Newsjoy has announced the latest preparations and process of listing on the outside, while accelerating the expansion of domestic and overseas markets.

In terms of shipment volume, according to the IDC report on the Chinese smartphone market released earlier, the shipment volume of the Chinese smartphone market in the second quarter was about 71.58 million, up 8.9% year-on-year. Among them, Newsjoy ranked fourth in the domestic smartphone market with a market share of 14.5%.

In the overseas market, according to the research data of market analysis institution Canalys, Newsjoy's smartphone market share increased to 7% in the first quarter of 2024, up 293% year-on-year, and ranked fifth among the top five smartphone brands in the Americas for the first time. In the second quarter of 2023, Newsjoy's shipment volume broke 10 million, including the first time it shipped nearly 500,000 units in the Mexican market. During this period, the Americas became Newsjoy's second largest global market after the Chinese mainland.