Wingtech to sell integrated product business to Luxshare for $647m

Wingtech Technology (SSE: 600745) announced a definitive agreement to sell its product integration business to Luxshare Precision for approximately $647 million. The deal, structured as a cash transaction, involves the transfer of Wingtech's ownership in several subsidiaries, including Kunming Wingtech, Huangshi Wingtech, and Shenzhen Wingtech, to Luxshare or its designated entities.