Chinese publication Securities Times reported that the former Huawei subsidiary would make various board and governance changes to meet listing requirements as it sought to capitalise on progress made in the last three years.

In a statement from Honor, it claimed rapid strategic and business development over that time, with its market position greatly improved.

With the IPO, it expects to “attract diverse capital”.

Prior to its split from Huawei in 2020, Honor had focused on low to mid-tier smartphones, with the Huawei badge donning the premium devices from the stable.

However, since gaining independence, Honor has pushed a range of high-end smartphones, foldables and even high fashion concept devices to consumers in China and elsewhere.

Canalys Q3 shipment figures for China place Honor at the top of the market on 11.8 million units and an 18 per cent market share.

This represents a remarkable improvement from Honor’s sixth market position in Canalys’ Q1 2021 report, when Honor had only 5.4 per cent market share.