<p>➀ Zhao Ming resigned as CEO of Honor due to health reasons, with Li Jian taking over; </p><p>➁ Honor completed its shareholding restructuring and is preparing for an IPO; </p><p>➂ Li Jian, the new CEO, has extensive experience in strategic management and is seen as a response to capital and market needs; </p><p>➃ Honor is focusing on overseas markets and high-end markets with the appointment of new leaders; </p><p>➄ Zhao Ming's leadership was crucial for Honor's independent growth and strategic adjustments; </p><p>➅ Frequent personnel changes and concerns about the IPO process have raised market concerns; </p><p>➆ The exit of Zhao Ming and the capital struggle may be due to issues with the distribution of interests and strategies after the shareholding reform; </p><p>➇ The smartphone industry capital logic and the future of Honor are discussed.</p>