Shulou(Shulou.com)11/24 Report--

Thank you CTOnews.com netizen Mr. Aviation for the clue delivery! CTOnews.com November 15 news, this evening, BYD Co., Ltd. issued an announcement, terminate the spin-off of its subsidiary BYD Semiconductor Co., Ltd. to GEM listing.

BYD said that when conditions are ripe, the company will choose an opportunity to start BYD semiconductor spin-off listing again.

The announcement said that during the company's promotion of BYD semiconductor spin-off listing, China's new energy automobile industry demand showed explosive growth. According to the data of China Passenger Association, from January to September 2022, the domestic retail sales of new energy passenger vehicles in China reached 3.877 million, with a year-on-year growth of 113.2%. It is estimated that the sales volume of new energy vehicles in 2022 will reach 6.5 million. The rapid growth of the new energy automobile industry has made wafer capacity a bottleneck in the capacity of vehicle-grade power semiconductor modules.

In order to expand wafer production capacity, BYD Semiconductor has invested in Jinan Power Semiconductor Production Capacity Construction Project during the review period. The Jinan project has been successfully put into operation at present, and the production capacity is climbing well. However, in the face of the continuous growth of the new energy automobile industry, the newly added wafer production capacity is still far from meeting the downstream demand. In order to improve the capacity supply capacity and independent controllable capability as soon as possible, BYD Semiconductor plans to seize the time window and carry out large-scale wafer capacity investment construction. On the basis of Jinan Project, further increase of large investment is expected to have a great impact on BYD Semiconductor's future assets and business structure.

In order to speed up the wafer production capacity construction, the Company comprehensively considered the industry development situation and future business strategic positioning, and made overall arrangements for business development and capital operation planning. After full and careful research, the Company decided to terminate the spin-off listing, and agreed to terminate the spin-off listing of BYD Semiconductor on the Growth Enterprise Market of Shenzhen Stock Exchange and withdraw the relevant listing application documents. The Company will speed up the expansion of relevant investment. When the relevant investment expansion is completed and the conditions are ripe, the Company will choose the opportunity to start the spin-off and listing of BYD Semiconductor again.

CTOnews.com learned that in January this year, the announcement of the 5th review meeting of Shenzhen Stock Exchange Venture Shanghai Municipal Committee in 2022 showed that BYD Semiconductor launched on January 27. In April this year, Shenzhen Stock Exchange documents showed that BYD semiconductor review status changed to Shanghai Municipal Party Committee meeting approved.

According to the prospectus, BYD Semiconductor plans to raise 2.686 billion yuan in the IPO to invest in new power semiconductor chip industrialization and upgrading projects, power semiconductor and intelligent control device R & D and industrialization projects and supplementary working capital.

According to official website information, BYD Semiconductor Co., Ltd. is a leading IDM enterprise in China, mainly engaged in power semiconductor, intelligent control IC, intelligent sensor, photoelectric semiconductor, semiconductor manufacturing and service, covering the induction, processing and control of optical, electrical and magnetic signals. Its products are widely used in automobile, energy, industry and consumer electronics fields, with broad market prospects. BYD Semiconductor aims to be an efficient, intelligent and integrated new semiconductor supplier.

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