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Fibocom disclosed in a Statement (in this context, 'Statement' may convey a more formal tone than 'Announcement' or 'notice') that it intends to acquire a controlling interest in Shenzhen Hangsheng Electronics Co., Ltd. through a cash transaction. The precise transaction price and the proportion of shares to be acquired are still subject to ongoing discussions. This proposed deal is expected to constitute a major asset restructuring for Fibocom. Hangsheng Electronics specializes in the research, development, production, and marketing of automotive electronic products. Once the transaction is finalized, Hangsheng Electronics will become a subsidiary under Fibocom's control. The two companies aim to achieve profound integration and collaboration, thereby bolstering Fibocom's capabilities for sustainable operation and development.
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