Fibocom to Acquire Control of Hangsheng Electronics via Cash Transaction

Stock News03-24 19:34

Fibocom (00638) has announced its intention to purchase a controlling stake in Hangsheng Electronics using cash. The transaction price and specific equity acquisition ratio are pending further evaluation and negotiation. Upon completion of the deal, Hangsheng Electronics will become a subsidiary controlled by Fibocom. The target company is primarily engaged in the research, design, production, and sale of automotive electronic products. Fibocom has extensive experience in vehicle-mounted wireless communication modules. By integrating downstream enterprises, the company aims to transition from a supplier of automotive communication modules to a comprehensive provider of automotive electronic solutions. Following the acquisition, Fibocom and Hangsheng Electronics will undergo deep integration and collaboration, which is expected to enhance Fibocom’s business scale and strengthen its sustainable operational and developmental capabilities. The transaction is considered beneficial to both Fibocom and its shareholders.

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