Chinese wireless communications module maker Fibocom (Guanghetong) and automotive electronics supplier Hangsheng Electronic have completed a restructuring, according to Chinese automotive news outlet Gasgoo. The two Shenzhen-based companies held a celebration ceremony at Hangsheng's headquarters on October 15.
Fibocom describes itself as the first wireless communications module company in China to list on both the A-share and H-share markets. Its business spans wireless communications, AI and robotics, and intelligent vehicles. In the automotive field, it has developed in-car wireless communications modules, smart cockpit modules and a cabin-connectivity integration platform, with expertise in vehicle-grade wireless connections, computing platforms and on-device AI.
Hangsheng Electronic has spent 33 years in the automotive electronics industry and is one of China's leading suppliers in the sector. Its business follows a "1+2+N" structure: smart cockpit, intelligent driving and connected-car services as the core, acoustics systems and new-energy vehicle control electronics as growth businesses, and emerging areas including software engineering, intelligent ecosystem products, roadside cloud edge computing units and embodied AI.
Capital and industry synergy
The two companies see the restructuring as a deep alignment of industrial expertise and capital platforms. After the deal, they plan to combine capital with operations, platforms with deep industry knowledge, and scale with specialisation, promoting the exchange of technology, resources, channels, management and talent. The focus will be on deepening the integration of "in-car communications plus smart cockpit plus AI" to offer integrated solutions to automakers and expand customer and order scale.
For Hangsheng, the restructuring means operating under the management system of a listed company, improving governance structures and standardising decision-making processes. It will also gain access to capital markets for funding, which it plans to invest in research and development, production capacity restructuring, new project construction and overseas market expansion.
The restructuring comes as China's automotive supply chain increasingly consolidates around software-defined vehicles, where in-car connectivity, cockpit computing and AI features are becoming key differentiators for automakers. Fibocom's strength in wireless modules and Hangsheng's long-standing relationships with mainstream carmakers position the combined entity to compete for integrated cockpit and connectivity contracts.
Industry context
Chinese automakers and suppliers have been accelerating partnerships and restructuring deals to build scale in intelligent driving and smart cockpit technology, a competitive battleground as domestic EV makers race to add features such as urban NOA (city advanced driver assistance) and voice-controlled cockpits. The deal also reflects a broader trend of capital market activity in China's EV supply chain, as companies seek funding for research and expansion.
Neither company disclosed financial terms of the restructuring or specific new contracts with automakers. The announcement was reported by Gasgoo and republished by Chinese EV media outlet D1EV.
