BYD Semiconductor starts the process of listing, is its ambition to develop semiconductors growing?

It is reported that BYD Semiconductor is considering listing on the Science and Technology Innovation Board or Growth Enterprise Market. In response to this news, BYD said: "There is no news yet, and the company's announcement will be final."

Since the beginning of this year, BYD has repeatedly stated that it will promote the listing process of BYD Semiconductor. In April this year, BYD Microelectronics completed its internal reorganization and changed its name to BYD Semiconductor. After the name change, BYD Semiconductor further integrated the chip industry chain under its parent company, including the research and development, production and sales of power semiconductors, intelligent control chips, sensors and optoelectronic semiconductors belonging to IGBT (insulated gate bipolar transistor).

BYD said that BYD Semiconductor plans to introduce strategic investors through capital increase and share expansion, and actively seek independent listing at an appropriate time. After the introduction of strategic investors, BYD Semiconductor will still be a subsidiary of BYD.

It is understood that after completing the reorganization, BYD Semiconductor quickly completed two rounds of financing totaling 2.7 billion yuan. On May 26, BYD Semiconductor introduced 1.9 billion yuan of strategic investment, led by Sequoia Capital, CICC Capital, and SDIC Innovation, and participated by Himalaya Capital and other well-known domestic and foreign investment institutions; on June 16, the company received another 800 million yuan of financing from a luxurious lineup including South Korea's SK Group, Xiaomi Group, CMB International, Lenovo Group, CITIC Industry Fund, ARM, SMIC, SAIC Capital, BAIC Capital, Shenzhen Huaqiang, Blue Ocean Huateng, and INVT.

At present, BYD Semiconductor has completed internal restructuring, equity incentives, and the introduction of strategic investors. BYD said that in the future, BYD Semiconductor will actively promote listing-related work to build an independent capital market operation platform, improve the company's independence, and promote the development and growth of its business.

BYD Semiconductor is a wholly-owned subsidiary of BYD Co., Ltd. and a leading semiconductor IDM company in China. It is mainly engaged in semiconductor manufacturing and services, and has an integrated business industry chain including chip design, wafer manufacturing, packaging and testing, and is currently the largest automotive-grade IGBT manufacturer in China.