Fibocom Wireless Inc. (Fibocom) has announced plans to acquire a controlling interest in Shenzhen Hangsheng Electronics Co., Ltd. (Hangsheng Electronics) through an all-cash transaction. The exact equity stake and consideration are still under evaluation and negotiation. Upon completion, Hangsheng Electronics would become a controlled subsidiary of Fibocom.

The proposed deal is expected to qualify as a “major asset reorganisation” under mainland regulations and a “major transaction” under Chapter 14 of the Hong Kong Listing Rules. Fibocom emphasised that the transaction will not involve share issuance, will not constitute a connected transaction, and will not lead to any change in control of the listed company.

Hangsheng Electronics, established on 6 December 1993 with a registered capital of RMB 320.30 million, specialises in the research, design, production and sales of automotive electronic products. According to the National Economic Industry Classification (GB/T 4754-2017), the company operates in the “Manufacture of Auto Parts and Accessories” segment within the automobile manufacturing industry.

Fibocom, a long-standing provider of vehicle-mounted wireless communication modules, aims to combine its existing strengths with Hangsheng Electronics’ downstream capabilities to build a full-stack automotive electronic solutions platform. Management expects the integration to expand the company’s business scale and enhance long-term sustainability.

The transaction is currently at the planning stage. No binding agreements have been signed, and completion remains subject to further negotiations, internal approvals and regulatory clearances. Fibocom will maintain normal share trading and provide staged disclosures as the process advances, noting significant uncertainty regarding final execution and timetable.