en.Wedoany.com Reported - Fibocom (300638) disclosed a major asset acquisition report (draft) on the evening of June 29, proposing to acquire a 37.16% stake in Shenzhen Hangsheng Electronics Co., Ltd. for RMB 1.428 billion in cash. The transaction counterparties include 38 shareholders, such as Shenzhen Huajian Jiachuang Enterprise Management Consulting Partnership (Limited Partnership).

Upon completion of the transaction, Fibocom will enter into a concerted action agreement with 10 shareholders, including Yang Hong and Yu Jie, collectively controlling 51.40% of the voting rights in Hangsheng Electronics, which will become a controlled subsidiary of Fibocom. Fibocom has already established product lines in the intelligent vehicle sector, including in-vehicle communication modules and smart cockpit modules. Meanwhile, Hangsheng Electronics possesses software and hardware development and mass production experience in smart cockpits, intelligent driving, and automotive acoustics, with products covering areas such as smart cockpits, intelligent connectivity, and advanced driver assistance systems (ADAS).

Fibocom stated that this acquisition will help strengthen its automotive electronics product matrix, driving the upgrade of its in-vehicle business from single communication modules to system-level integrated products, achieving vertical integration of software and hardware. Fibocom will gain the ability to deliver self-developed system-level products directly to original equipment manufacturers (OEMs), transitioning from a Tier 2 supplier to a Tier 1 supplier. According to the pro forma review report, the overall operating scale and profitability of the listed company will significantly improve after the transaction. In 2025, Fibocom's total operating revenue is expected to increase from RMB 6.988 billion to RMB 11.816 billion, a growth of 69.10%; net profit attributable to the parent company is expected to rise from RMB 347 million to RMB 414 million, an increase of 19.35%.

This transaction includes performance commitment and compensation arrangements. Seven performance commitment parties, including Yang Hong, have pledged that Hangsheng Electronics will achieve a cumulative net profit of no less than RMB 598 million during the period from 2026 to 2027. If the cumulative net profit falls below 90% of the committed amount, the relevant parties will compensate the difference in cash. The performance commitment parties have collectively pledged 16.9224 million shares of Hangsheng Electronics as performance guarantees, with a maximum secured claim amount of RMB 598 million. Founded on December 6, 1993, Hangsheng Electronics' customers include international automakers such as Nissan, Toyota, Honda, Volkswagen, Ford, and Stellantis Group, as well as domestic automakers like Dongfeng and Geely. According to official data, Hangsheng Electronics' revenue in 2024 was RMB 4.314 billion, and in 2025, both revenue and profit grew by over 20% year-on-year (estimated revenue of approximately RMB 5.2 billion). The company aims to achieve revenue exceeding RMB 10 billion by 2027 and RMB 20 billion by 2030.