Asianfin -- Chinese smartphone manufacturer Honor announced on Thursday that it has gained support from new investors as it prepares for its initial public offering (IPO). The latest investors include China Telecom, one of the country's major telecommunications operators; CICC Capital; Cornerstone, a Chinese venture capital firm; and SDG, a fund associated with a Shenzhen economic zone. Honor also mentioned that existing partners contributed to a new funding round through an entity named Jinshi Xingyao. Earlier this year, Honor stated its intention to restructure its shareholder base in the fourth quarter, after which it would commence the IPO process "at a suitable time." However, the company has not disclosed its intended listing location. Honor first announced its IPO plans in November 2023. Honor became independent from Chinese telecommunications giant Huawei in November 2020, following U.S. sanctions imposed on the parent company. Huawei has clarified that it does not hold any shares in Honor nor is involved in its business decisions. Last week, Honor unveiled the upcoming version of its operating system, which features AI capabilities that can simulate touchscreen actions, such as opening an app to place a coffee delivery order. Additionally, the company launched its new Magic7 series of smartphones on Wednesday, equipped with these AI functionalities in China. According to Counterpoint, nearly one-third of Honor's sales in the first half of this year came from international markets.