Fibocom Wireless Inc. (Fibocom) disclosed an update on its proposed major asset reorganisation, confirming that discussions to acquire a controlling interest in Shenzhen Hangsheng Electronics Co., Ltd. (Hangsheng Electronics) remain in progress.

The transaction structure calls for an all-cash consideration, after which Hangsheng Electronics would become a controlled subsidiary of Fibocom. The contemplated deal, first outlined on 24 March 2026, meets the definition of a “major asset reorganisation” under PRC regulations but will neither involve share issuance nor trigger a change in control of Fibocom. The company also confirmed the transaction does not constitute a connected transaction.

Management reported that audit, valuation and due-diligence work is actively under way; however, no binding agreements have been signed. Accordingly, the timetable and ultimate completion of the deal are highly uncertain and remain subject to requisite corporate approvals and regulatory procedures.

Fibocom has released three prior disclosures on this matter (24 March, 23 April and 22 May 2026) and reiterated its commitment to make staged announcements as developments occur. Investors are advised to monitor subsequent filings and remain aware of associated risks.