On July 30, the official website of the China Securities Regulatory Commission (CSRC) displayed that CITIC Securities had issued the "Report on the Progress of Tutoring Work for Honor's Initial Public Offering and Listing (Phase IV)." Honor successfully filed for its listing tutoring with the Shenzhen Securities Regulatory Bureau in June 2025 and has already released three preceding reports. According to the latest report, the tutoring period for this phase spanned from April 1 to June 30, 2026. Throughout this tutoring phase, Honor's shareholders' meeting appointed a new director. Additionally, changes in the equity structure resulted in adjustments to the personnel undergoing tutoring. The tutoring primarily focused on conducting due diligence, holding project meetings, enhancing corporate governance, and deliberating on fundraising and investment projects. In the upcoming phase, CITIC Securities will persist in designating its current members to carry out the tutoring tasks. Presently, the primary challenge lies in determining the strategic direction for fundraising and investment.