Fibocom Wireless Inc. released a progress announcement on its planned major asset reorganisation, confirming that it is negotiating to acquire a controlling interest in Shenzhen Hangsheng Electronics Co., Ltd. The transaction is structured as an all-cash deal and, if completed, would make Hangsheng Electronics a controlled subsidiary of Fibocom.

The company reiterated that no formal agreements have been signed. Audit, valuation and due-diligence work is under way, and further disclosure will follow each development stage in accordance with regulatory requirements.

Fibocom emphasised that the proposed deal does not involve share issuance, is not a connected transaction and will not trigger a change of control at the listed entity. Because the proposal is still under discussion and subject to board and regulatory approvals, the completion timetable remains uncertain.

Investors were reminded to monitor subsequent announcements and remain mindful of potential risks until definitive transaction documents are executed.