Fibocom Wireless sells its in-vehicle wireless communication module business to a Luxembourg company

In order to cope with the complex international market environment, Shenzhen Ruiling Wireless Technology Co., Ltd., a wholly-owned subsidiary of Shenzhen Fibocom Wireless Co., Ltd., decided to sell its in-vehicle wireless communication module business to EUROPASOLAR S.àr.l. in Luxembourg. The sale price of this business is US$150 million. The asset purchase agreement for this transaction was signed on July 3, 2024, and the transaction was completed on July 26.