Fibocom Wireless Inc. (Fibocom) has released an update on its planned major asset reorganisation to purchase 37.16% of Shenzhen Hangsheng Electronics Co., Ltd. (Hangsheng Electronics) and obtain majority voting rights in the target company.
The transaction Fibocom intends to acquire 119.02 million Hangsheng Electronics shares—equal to 37.16% of the target’s share capital—from 38 existing shareholders for cash. Concurrently, an Acting-in-Concert Agreement will grant Fibocom and aligned parties an aggregate 51.40% of Hangsheng Electronics’ voting rights, establishing the latter as a controlled subsidiary. The deal is structured purely as a cash purchase; no new Fibocom shares will be issued and no ancillary fundraising is involved.
Regulatory classification and process Under the Administrative Measures for the Major Asset Reorganisation of Listed Companies, the deal qualifies as a “major asset reorganisation.” Key resolutions, including the acquisition plan and draft purchase report, were approved at Fibocom’s board meeting on 29 June 2026. Required supplemental audits are under way to update the financial data underpinning the transaction, as mandated by regulatory timetables.
Timeline of disclosures • 24 Mar 2026: Indicative announcement of proposed major asset reorganisation (Announcement No. 2026-004) • 23 Apr 2026, 22 May 2026, 22 Jun 2026: Monthly progress updates (Nos. 2026-022/026/029) • 29 Jun 2026: Board approval of the transaction and publication of the draft report (Multiple resolutions and agreements disclosed) • 22 Jul 2026: Current progress update (No. 2026-036)
Next steps and risk reminder Fibocom states that it is “actively promoting” remaining work, principally the completion of supplementary audits and other regulatory requirements. The company emphasises that the transaction remains subject to further decision-making and approvals. All previously disclosed risk factors remain valid, and investors are urged to monitor subsequent announcements for developments.
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