Accelerate the spin-off of BYD Semiconductor to introduce strategic investments such as Xiaomi
Recently, the news of BYD Semiconductor’s spin-off has undoubtedly become a concern. Recently, it seems that this move is accelerating progress. Yesterday evening, BYD Co., Ltd. issued an announcement that BYD Semiconductor Co., Ltd. (hereinafter referred to as “BYD Semiconductor”), a subsidiary of the company, introduced multiple strategic investors such as Xiaomi Changjiang Industrial Fund and Lenovo Changjiang Technology Industrial Fund through capital increase and share expansion. The total capital increase is about 800 million yuan. strategic investments such as Xiaomi
According to the announcement, investors such as Xiaomi Changjiang Industry Fund, Lenovo Changjiang Science and Technology Industry Fund, and Elsevier (China) Enterprise Management Co., Ltd., etc., according to BYD Semiconductor’s pre-investment valuation of RMB 7.5 billion, plan to increase the total capital of BYD Semiconductor by RMB 799.999999 Yuan, of which RMB 320.2107724 million is included in BYD Semiconductor’s newly registered capital, and RMB 767797.892176 million is included in BYD Semiconductor’s capital reserve. The investors in this round will collectively obtain 7.843129% equity after BYD Semiconductor’s capital increase and share expansion. strategic investments such as Xiaomi
In this regard, BYD said that after the completion of this capital increase and share expansion, the registered capital of BYD Semiconductor will increase by RMB 320 million. The company holds 7 2.3 01481% equity of BYD Semiconductor, and BYD Semiconductor is still included in the scope of the company’s consolidated statement. This transaction is in line with the company’s interests and strategic development goals, and there is no situation that harms the interests of the company and small and medium shareholders. strategic investments such as Xiaomi
In addition, the announcement shows the future cooperation trends of BYD Semiconductor. The announcement clearly pointed out that considering the future business resource integration and cooperation of BYD Semiconductor, BYD Semiconductor plans to continue to introduce South Korea’s SK Group, Xiaomi Group, China Merchants International, Lenovo Group, CITIC Industrial Fund, Hoan Fund, SMIC Juyuan, SAIC Strategic investors such as Beijing Investment, BAIC Investment, Shenzhen Huaqiang, Blue Ocean Huateng, INVT. strategic investments such as Xiaomi
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