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On the evening of May 11, 2021, BYD Co., Ltd. (002594.SZ) announced that the board of directors passed a resolution that the company intends to spin off its subsidiary BYD Semiconductor and to list it on the Shenzhen Stock Exchange’s Growth Enterprise Market.
After the spin-off is completed, BYD will still maintain control of BYD Semiconductor, and BYD Semiconductor will remain a subsidiary within the scope of BYD’s consolidated statements.
BYD Semiconductor will focus on automotive-grade semiconductors and simultaneously promote the development of semiconductor business in the auto industry, home appliances, new energy, consumer electronics, and other sectors. It is committed to becoming an integrated new semiconductor supplier.