- BYD Microelectronics bought a 100 per cent stake in Ningbo BYD Semiconductor and Guangdong BYD Energy Saving Technology respectively
- It is also taking over BYD Huizhou’s businesses related to intelligent photoelectricity, light-emitting diode (LED) light source and LED applications
As per a report by Caixinglobal, BYD has reorganized its wholly-owned subsidiary BYD Microelectronics and renamed it BYD Semiconductor as a part of the preparation to list it in due course. The report added that BYD Microelectronics bought a 100 per cent stake in Ningbo BYD Semiconductor and Guangdong BYD Energy Saving Technology respectively as a part of the reorganisation.
Taking over BYD Huizhou’s businesses
It is also taking over BYD Huizhou’s businesses related to intelligent photoelectricity, light-emitting diode (LED) light source and LED applications as per a statement published on the Hong Kong Stock Exchange’s website. The statement added that the development, production, and sales of power semiconductors, intelligent control integrated circuits, smart sensors, and optoelectronic semiconductors comprise of a major part of BYD Semiconductor’s business
The report added that the statement said that BYD Semiconductor also plans to introduce strategic investors through share allotments. In another statement, the company said that its net profit attributable to shareholders is likely to drop by up to 93 per cent year-on-year in the first quarter of 2020. This is due to the coronavirus and a contraction in China’s overall automobile market.
