Fibocom's shareholders cleared its cash purchase of control in Hangsheng Electronics

Shenzhen Fibocom Wireless said its fourth extraordinary general meeting of 2026, held on October 14, passed all eighteen proposals put to it, with no proposal amended or rejected. Seventeen concerned the major asset purchase; the eighteenth, a change of registered capital and an amendment to the articles, was a separate agenda item. The resolution announcement, numbered 2026-078, was filed to cninfo the same day.

The meeting drew 439 shareholders and proxies holding 338,461,079 shares, or 37.7766 percent of voting shares. The proposal confirming the company met the conditions for a major asset restructuring carried 99.5731 percent of votes cast; the purchase scheme carried 99.5959 percent, and 95.3947 percent among A-share minority holders. Every proposal was a special resolution needing two thirds of attending shareholders’ votes.

The cninfo resolution announcement recorded the votes without naming the target, though the company’s Hong Kong announcement of the same meeting does. The terms sit in the revised draft report Fibocom filed on September 24, which set out a cash purchase of 37.16 percent of Shenzhen Hangsheng Electronics from a Shenzhen partnership and 37 other holders for 1,427,991,900 yuan. Acting together with ten named parties, Fibocom would hold 51.40 percent, and the draft report said Hangsheng would become a controlled subsidiary. No new shares are issued and no supporting funds raised.

That report put Hangsheng’s book equity value at 1,882,906,800 yuan at the end of 2025 against an income-approach appraisal of 3,850,400,000 yuan, an uplift it stated as 104.49 percent. The sixteenth proposal authorized an application to banks for an acquisition loan, capped in the draft report at 1 billion yuan alongside own funds. Hangsheng’s business is recorded as automotive electronic products.