According to the listing committee of the Shenzhen Stock Exchange, on Thursday, BYD Semiconductor, a subsidiary of Chinese EV maker BYD, will get its IPO application accepted on January 27th.
Founded in 2004, BYD Semiconductor develops semiconductors to comply with vehicle standards. The company focuses on semiconductors for use in industry, home appliances, new energy and consumer electronics.
According to the prospectus, BYD Semiconductor plans to raise 2.686 billion yuan ($424 million) in this IPO to invest in the industrialization of new power semiconductor chips, R&D of intelligent control devices, while supplementing its working capital.
BYD Semiconductor intends to guarantee the stable supply of wafers by maintaining their own production lines. The company wants to independently control key production steps for the manufacturing of power semiconductors and integrated circuit chips.
In the automotive field, relying on the company’s experience in vehicle compliance, BYD Semiconductor has mass-produced insulated gate bipolar transistors, intelligent power modules, micro-controller units, complementary metal oxide semiconductors, electromagnetic sensors, and LED displays.
In terms of power semiconductors, the company overseas the entire industrial chain from chip design and wafer manufacturing to module packaging and testing.
BYD Semiconductor’s micro-controller unit (MCU) chips have been mass-produced and sales have been good. According to Omdia statistics, BYD Semiconductor is the largest manufacturer of MCU chips that comply with vehicle standards in China.