What is Shenzhen Zhixian New Information Technology Co Ltd? Founded in October 2008, the company has a capital of nearly 3 billion yuan. Its name was changed from Rao Junxiang to Wan Biao after the acquisition of Huawei’s glory business. Since then, the company has changed its name and undergone several industrial and commercial changes. Today, it is backed by public and private investors.
This technology company is jointly invested by two entities. The Shenzhen Smart City Technology Development Group Co., Ltd., and more than thirty honor agents. Huawei will own only 2.5% of the company after the sale, but the company is controlled by Shenzhen SASAC, a public-private partnership. The Shenzhen SASAC has a majority stake in Zhixin, and its subsidiaries own the remaining 4%.
The two companies will be working together to restore Honor to the US market. Huawei will sell the brand to a consortium of over 30 dealers and agents. The sale will end up benefiting both companies. The new company will continue to sell Honor devices to consumers in China and abroad. As the former owned Honor, the new company will not hold Huawei’s shares. But there are many questions surrounding this acquisition.
A legal representative of Shenzhen Zhixin New Info Technology Co., Ltd., is Wan Biao. Wan Biao has no business information on his personal website. But Wan Biao is a former executive at Huawei. He was CEO of Huawei’s terminal and head of the company’s Russia region. In May 2016, he was also named president of Huawei’s home and mobile broadband product lines.