CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China. Chart Of The Day: S&P 500 Primed For Another Rally? As part of the reorganization, BYD Microelectronics bought a 100% stake in Ningbo BYD Semiconductor and Guangdong BYD Energy Saving Technology respectively as well as taking over BYD Huizhou’s businesses related to intelligent photoelectricity, light-emitting diode (LED) light source and LED applications, according to a statement published Tuesday on the Hong Kong Stock Exchange’s website. BYD Electronics is equipped with cutting-edge and complete forming technology package, such as injection, silicone molding, forging, punching, die-casting and CNC. In a separate statement, the Shenzhen-based company said that its net profit attributable to shareholders is likely to drop by up to 93% year-on-year in the first quarter of 2020 due to the coronavirus and a contraction in China’s overall automobile market. %USER_NAME% was successfully added to your Block List. Investing.com – Shenzhen-based Chinese conglomerate BYD is considering a spinoff of its semiconductor subsidiary. Find the latest BYD ELECTRONIC INTERNATIONAL CO (BYDIF) stock quote, history, news and other vital information to help you with your stock trading and investing. In May, the firm secured ¥1.9 billion ($265 million) in a Series A round that saw participation from Sequoia Capital, SDIC Fund, and 12 other organizations. On Monday, the firm said in a filing it has secured 800 million yuan ($113 million) in a Series A+ round for its chipmaking arm, BYD Semiconductor. BYD shares have slumped more than 20% in Hong Kong this year amid China’s car-demand contraction. Copyright © 2019 Caixin Global Limited. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. By doing so, you and %USER_NAME% will not be able to see
Are you sure you want to block %USER_NAME%? Your status will be reviewed by our moderators. Please note that all comments are pending until approved by our moderators. Contact reporter Ding Yi (email@example.com), Related: March Sales Dive for Two Chinese NEV Giants. Mario McKellop is a Staff Writer for The Burn-In. The electronic switch is so valuable that it represents 7 to 10 percent of a battery-power vehicle’s total cost. Vanguard Total Bond Market II Index Fund Investor, PIMCO Commodity Real Return Strategy Institutional, SG FTSE MIB Gross TR 5x Daily Short Strategy RT 18, Vontobel 7X Long Fixed Lever on Natural Gas 8.06, Berkshire Hathaway to pay $4.14 million to settle Iran sanctions violations claims, Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.14%, Direxion Daily Junior Gold Miners Bull 2X Shares. Currency in HKD, How He Made $2.8M Trading Stocks Part-Time At Home. That same quality makes it appealing to investors as foreign suppliers presently dominate the Chinese IGBT market. FX: Looming Stimulus Deadline Spooks Investors. All Rights Reserved. Does Byd Co., Ltd. (BYDDY) have what it takes to be a top stock pick for momentum investors? BYD Co., the Chinese auto giant backed by Warren Buffett, is rushing to make China self-sufficient in the production of electric vehicles. Find the latest BYD ELECTRONIC (0285.HK) stock quote, history, news and other vital information to help you with your stock trading and investing. BYD is listed in both Shenzhen and Hong Kong. BYD Spins Off Semiconductor Business for Planned Share Listing, Tencent Chooses Co-Working Space For First Singapore Office, Trending in China: Bear Attack Killing Keeper Sparks Debate Over Animal Cruelty, China to Buy Two-Thirds of Global 5G Phones This Year: IDC, TikTok Downloads Surge After Pakistan Lifts 10-Day Blackout, Investors Load Up on First Ever Sale of Chinese Depositary Receipts, Provincial Authorities Reprimanded Over Spate of Deadly Holiday Incidents, Lawmakers Say China’s Proposed Rules on Facial Recognition Are Too Vague, Central Bank Proposes Fleshed-Out Rules to Keep Dirty Cash Out of Real Estate, In Depth: Meet the Cheap Chinese Electric Car Selling Twice as Fast as Tesla’s Model 3, Four Things to Know About the State’s Role in China’s Private Investment Market, Chip Equipment Giant ASML Says Some Sales to China Don’t Require U.S. License, September Credit Growth Signals Stronger 3rd Quarter GDP, Central Banker Says, Alibaba Blends Brick-and-Mortar, Online Grocery Shopping With $3.6 Billion Investment, China’s Mobile Tower Giant Reports Modest Revenue Growth, Jack Ma Tops Hurun China Rich List With $58.8 Billion Fortune, Active Coronavirus Samples Found on Frozen Food Packaging for First Time, Xiaomi Shows off Super-Fast-Charging Wireless Technology, China’s 3DMed Diagnostic Raises $224m in Second Equity Financing Round, EV Startup Faraday Gets Financial Lifeline from U.S. The company’s Shenzhen stocks (SZ:002594) jumped 5.39% by 12:20 AM ET (5:20 AM GMT). BYD Semiconductor filed a report with the Shenzhen Stock Exchange revealing SK Group led its Series A+ round with a ¥150 million ($21 million) contribution. Because of the increasing electrification of the auto industry and the product’s versatility, MarketsandMarkets estimates the global IGBT sector will be worth $5.64 billion in 2025. BYD Semiconductor will remain a BYD subsidiary after these long-haul investors come aboard. BYD Semiconductor raises $113 million to scale up production, third-largest microelectronics manufacturer, Semiconductor Manufacturing International Corporation (SMIC), Report: Global semiconductor market to contract in 2020, Tesla vehicle registrations in China hit a new high in May, Intel to sell NAND and storage business to SK Hynix for $9 billion, Huawei rivals boosting sales for Japanese chipmakers, TSMC predicts record-high Q4 revenue because of iPhone 12 launch. By Ding Yi / Apr 15, 2020 04:38 PM / Business & Tech.