Shenzhen Stock Exchange Resumes BYD Semiconductor’s Listing Review
Information from the Shenzhen Stock Exchange on Thursday shows that BYD Semiconductor updated its financial documents, and that its official review for a public listing has resumed.
BYD Semiconductor is mainly engaged in the R&D, production and sales of power semiconductors, intelligent control IC, intelligent sensors and optoelectronic semiconductors. Since its establishment, the company has promoted the development of semiconductors in various fields including home appliances, new energy, and consumer electronics.
BYD Semiconductor’s listing application has gone through many twists and turns. On June 30, 2021, EV firm BYD announced at the Shenzhen Stock Exchange that it planned to spin off its subsidiary BYD Semiconductor to be independently listed. The application was accepted at the time.
However, on August 18, 2021, BYD Semiconductor’s listing review was suspended because the law firm responsible for its listing had been investigated by China Securities Regulatory Commission. After submitting a report, the listing review was resumed.
BYD Semiconductor’s IPO application was finally accepted in January this year. However, the stock exchange said on April 1 that BYD Semiconductor needs to update its financial documents and the listing review was suspended again.
SEE ALSO: Shenzhen Stock Exchange Suspends IPO Review of BYD Semiconductor
According to the firm’s prospectus, from January to June 2021, BYD Semiconductor achieved revenue of 1.235 billion yuan ($185.8 million) and net profits of 184 million yuan. The company plans to raise 2.686 billion yuan through the IPO to invest in the upgrading of new power semiconductor chips and the R&D of intelligent control devices.