Unlike NIO, which faced difficulties to list in Hong Kong, trying to switch to Singapore for second listing, BYD Semiconductor, a semiconductor company owned by new energy vehicle maker BYD, officially received approval for an initial public offering (IPO) on the A-share market earlier. The news was officially announced by Shenzhen Stock Exchange.
BYD Semiconductor was founded in October 2004, and BYD owns 72.30 percent of the company’s shares, making it the company’s controlling stakeholder. Power semiconductors, intelligent control ICs, smart sensors, and optoelectronic semiconductors are among the products that BYD Semiconductor develops, manufactures, and sells.
The IPO application for BYD Semiconductor was initially revealed on June 30, 2021. They plan to list on ChiNext, a Shenzhen Stock Exchange subsidiary that is similar to NASDAQ. However, the China Securities Regulatory Commission investigated Beijing Tianyuan Law Firm, which handled BYD Semiconductor’s IPO process, on August 18, resulting in the process’ suspension. Review committee meeting finally approved the IPO offering after long wait.
Through the IPO, the company hopes to raise RMB 2 billion. The stock’s precise IPO date has yet to be determined.
BYD released the first generation of 8-bit automotive MCUs in 2018 and the first generation of 32-bit automotive MCUs in 2019, both of which are used across the company’s entire product line. BYD Semiconductor reported that the number of automotive MCUs it has deployed has surpassed 10 million. Counting the industrial-grade MCU chips, the total shipment approaches 2 billion units.
According to the company, it will focus on automotive semiconductors in the future and promote the growth of the semiconductor business in the fields of industry, home appliances, new energy, and consumer electronics, which is committed to becoming a new type of efficient, intelligent, and integrated semiconductor supplier.