Guanghetong plans to acquire a controlling stake in Hangsheng Electronics through a cash acquisition.

Fibocom announced it is planning to acquire a stake in Hangsheng Electronics in a cash transaction, which is expected to constitute a major asset restructuring. Hangsheng Electronics is a company specializing in the R&D, production, and sales of automotive electronics products. Fibocom is a company with significant influence in the field of IoT wireless communication. If the transaction is completed, Hangsheng Electronics will become a controlling subsidiary of Fibocom, and the two companies will achieve deep business integration and synergy.