On October 15, PG INT and Shenzhen Hangsheng Electronics Co., Ltd. (“HSAE”) held a celebration ceremony at HSAE’s headquarters to mark a major milestone in their restructuring. Peter Zhang, Chairman of PG INT, Yang Hong, Chairman and President of HSAE, and representatives from the management teams of both companies attended the event.
The restructuring brings together PG INT’s technological strengths in automotive wireless communications and computing platforms with HSAE’s established capabilities in automotive electronic systems R&D and OEM project delivery, further expanding PG INT’s capabilities in system-level product development and delivery for automakers.
On October 14, PG INT’s shareholders’ meeting approved the major asset purchase proposal.
Under the transaction, PG INT will acquire a 37.16% stake in HSAE in cash. Through an acting-in-concert arrangement, upon completion of the transaction, PG INT and its parties acting in concert will collectively hold a 51.40% stake in HSAE, making HSAE a controlled subsidiary of PG INT.
PG INT has established a comprehensive product and technology portfolio for intelligent vehicles, covering automotive wireless communication modules, smart cockpit modules, and integrated cockpit and connectivity platforms. The company has built strong technological capabilities in automotive-grade wireless connectivity, computing platforms, and on-device AI.
Founded in 1993, HSAE has been deeply engaged in the automotive electronics industry for more than three decades. Its business spans smart cockpits, intelligent driving, and automotive acoustics. The company has system-level hardware and software R&D capabilities, extensive experience in automotive OEM project development and large-scale delivery, and long-term partnerships with multiple automakers in China and overseas.
Leveraging their respective technological and industrial strengths across different parts of the automotive electronics value chain, the two companies will advance the vertical integration of “AI technology + communication modules + automotive electronic systems” across hardware and software. At the product and technology level, the two sides will explore collaboration in chip platform adaptation, underlying software, and R&D resources, promote technology reuse and joint development, and further integrate wireless connectivity and on-device AI capabilities into system-level products such as smart cockpits.
At the market level, HSAE’s established automotive OEM supply and support system and PG INT’s global business network are expected to complement each other, creating more opportunities to serve automotive customers in China and overseas.
Yang Hong, Chairman and President of HSAE, said:
The restructuring represents a mutual choice based on value creation and long-term development. “HSAE chose PG INT, and PG INT chose HSAE.” With PG INT’s support, HSAE will receive stronger support in R&D investment, new project development, and overseas market expansion.
Looking ahead, the two companies will promote deeper integration of automotive connectivity, smart cockpits, and AI, providing integrated solutions for automakers and “opening up a new growth curve for the business.”
Peter Zhang, Chairman of PG INT, said:
The global automotive industry is undergoing profound transformation, with electrification, intelligence, and connectivity accelerating rapidly. At the same time, the global expansion of Chinese automakers is creating broader market opportunities for both companies.
“We firmly believe that true industrial integration means respecting history, embracing the team, and amplifying value; and that the best partnerships are built on mutual success, complementary strengths, and shared growth.”
He added, “This partnership carries our shared mission to grow and strengthen our automotive electronics business.”
Going forward, PG INT and HSAE will fully leverage their respective strengths in technology, industry resources, and market reach to enhance the overall competitiveness of their automotive electronics business and expand into broader global markets.
