BYD Semiconductor Co., Ltd. (hereinafter referred to as: BYD Semiconductor) made another key progress in its listing.
On January 27th, according to the announcement of the results of the fifth review meeting of the gem listing Committee of the Shenzhen Stock Exchange, the BYD semiconducting gem IPO successfully passed the meeting. The announcement said that BYD semiconductors (IPO) meet the issuance conditions, listing conditions and information disclosure requirements.
According to the prospectus, BYD semiconductors plan to issue no more than 50 million RMB common shares (A shares) to the public this time, and plan to raise 2.001 billion yuan, mainly for R & D projects of key technologies of power semiconductor chips, high-performance MCU chip design and testing technology R & D projects, high-precision BMS chip design and testing technology R & D projects, as well as supplementary liquidity.
Specifically, the R & D project of key technologies of power semiconductor chips will focus on the application of new energy vehicles, and will continue to research and develop key technologies of power semiconductors, including a new generation of high-performance IGBT chips and modules, SiCMOSFET chips and modules, and high-voltage power device driver chips. The research and development project of high-performance MCU chip design and test technology will focus on the application of MCU chip in automotive and industrial fields. The research and development project of high-precision BMS chip design and testing technology will focus on the application of BMS chip in the field of new energy vehicles, intelligently manage the battery pack of new energy vehicles, improve the performance and service life of the battery, and ensure the safety, durability and power of the battery at the same time.
Data show that BYD semiconductors are mainly engaged in the research, development, production and sales of power semiconductors, intelligent control IC, intelligent sensors and optoelectronic semiconductors, covering the induction, processing and control of electrical, optical, magnetic and other signals, and the product market has a broad application prospect. Since its inception, with automotive semiconductors as the core, Synchronize promotes the development of semiconductor business in industry, home appliances, new energy, consumer electronics and other fields.
In terms of products, BYD semiconductors produced IGBT, SiC devices, IPM, MCU, CMOS image sensors, electromagnetic sensors, LED light sources and displays and other products, which are used in automobile motor drive control system, vehicle thermal management system, body control system, battery management system, vehicle image system, lighting system and other important systems; and has realized the large-scale application of SiC module in the motor drive controller of high-end models of new energy vehicles.
On the customer side, BYD semiconductors have entered the supply system of BYD, Dongfeng Lantu, Xiaopeng Motor, Xiaokang Automobile, Changan Automobile, Yutong Automobile and Futian Motor and other brand manufacturers.
In terms of performance, BYD semiconductors expects to achieve operating income of 3.05 billion yuan to 3.2 billion yuan in 2021, an increase of about 111.63% to 122.04% over the same period last year; and the net profit attributed to shareholders of the parent company is expected to be about 350 million yuan to 395 million yuan in 2021, an increase of about 496.94% to 573.69% over the same period last year.
BYD semi-director said that the main reason for the performance growth is the sharp increase in sales of new energy vehicles downstream, leading to the rapid growth of the company's profits. The company's specification-grade power semiconductor product structure has been further optimized, with DM4.0 modules equipped with hybrid models and SiC modules equipped with pure electric models continue to increase, resulting in significant revenue growth. At the same time, the company's intelligent control IC, smart sensors and other products also achieved a large increase in revenue with the growth of new energy vehicle sales. In addition, with the continuous optimization of the company's product structure, the overall gross profit margin has improved; in addition, affected by the tight global chip supply, downstream home appliances, industrial control and other customers, in order to ensure the security of the supply chain, increased procurement efforts from domestic chip manufacturers, including the company, intelligent control IC and intelligent sensors and other products sales to external customers increased significantly.
It is worth mentioning that as a subsidiary of BYD, the debut of BYD semiconductors will be the first step in BYD's strategy of opening up the supply chain and spinning off the stock market, after which BYD's Fudi Battery plans to go public independently within a year or two.
