Xiao Yunhuya (Xiao Yonghui)

Biography

2024: Arrest

On September 7, 2024, the Chinese company Transsion Holdings announced the arrest of its chief financial officer Xiao Yonghui. What kind of charges are being brought against the man is not specified as of the date of detention.

Transsion includes popular Russia brands, and smartphones Infinix. Itel Tecno Against the background of the formed geopolitical situation, the demand for these devices among Russian consumers is growing rapidly. According to statistics, in the "Avito" second quarter of 2024, Infinix and Tecno became the leaders in increasing sales: Infinix shipments rose twice year-on-year, and Tecno - by 69%.

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According to the South China Morning Post, Yonghui's arrest is related to some investigative actions. The man was detained in accordance with a decree issued by the district supervisory committee of Dandong, a city in northeastern Liaoning province. It is emphasized that Transsion does not have information about the reasons for the arrest of its financial director.

As of the specified date (September 7, 2024), the company is not aware of the progress or completion of the investigation, Transsion said in a statement cited by the South China Morning Post.

At the same time, Transsion notes that its organizational structure allows stable functioning even in the absence of a CFO. And therefore, the arrest of Yunhui "will not have a significant impact on the activities" of the company.

According to IDC analysts, sales of Transsion cellular devices in 2023 increased by 30.8% to 94.9 million units: this allowed the company to occupy 8.3% of the global market and become the fifth largest smartphone supplier in the world. In many ways, the success of Transsion is due to the booming market for low-cost devices and aggressive expansion into India and Pakistan.^[1]

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