Wingtech Technology’s major asset sale nears completion

Wingtech Technology has announced substantial progress on its major asset sale, a transaction initially approved on March 20, 2025. The company is divesting its stake in Kunming Wenxun Industrial, Huangshi Zhitong Electronics, Kunming Zhitong Electronics, Wingtech Technology (Shenzhen), Wingtech Group (Hong Kong) Limited (including PT. Wingtech Technology Indonesia), Wingtech Technology (Wuxi), Wuxi Wenxun Electronics, and Wingtech Mobile Communications (India) Private Ltd. The majority of the asset package’s ownership transfers are complete, with only the transfer of Indian land requiring the buyer's assistance.

The sale, which involves a cash transaction with Luxshare Precision Industry and Luxshare Communication (Shanghai) Co., Ltd., has seen most of the transaction price successfully paid to Wingtech Technology. However, as of the announcement date, an outstanding balance of RMB 160,741,382.18 for the Indian asset package remains unpaid by the buyer.

Wingtech Technology stated it will continue to communicate actively with the buyer regarding the outstanding payment. The company has pledged to comply with all relevant legal and regulatory requirements for information disclosure as the transaction progresses.