From the signing of the placing agreement to the completion of the placing, BYD completed the "lightning" placing in only 8 days! In the evening of November 8, BYD (002594) announced that the company completed the allocation and issuance of a total of 50 million new H shares at the allocation price of HK $276 to not less than six allotees, with a net proceeds of about HK $13.744 billion.
The proceeds will be used to replenish working capital, repay interest-bearing debt, invest in research and development, and for general corporate purposes, according to byd's Nov. 1 placement announcement.
Byd previously said that with the explosion of the new energy vehicle industry, the company will seize the industry development opportunities to increase the layout of the new energy vehicle business. At the same time, electrification and intelligence are the future development direction of the automobile industry. The company will accelerate the replacement of new energy vehicles to fuel vehicles through technological innovation, and realize a leap from traditional vehicles to intelligent vehicles through the layout of hardware and software in the field of automobile intelligence.
Citic Securities analysis said byd's fundraising will help it expand its own industrial chain layout, help capacity expansion, add intelligent and electric. It is expected that after the completion of the fundraising, it will promote the further improvement of the company's RESEARCH and development capabilities and consolidate its leading position in the industry.
byd
In addition, according to byd's latest production and sales bulletin, the company produced 89,028 cars in October, up 87.65% year on year; Sales volume was 89,935 units, up 88.42% year on year. Among them, the sales volume of new energy vehicles was 81,040 units, up 249.05% year on year, again topping the sales volume of New energy passenger vehicles in China in October.
From January to October, BYD's cumulative output was 550,513 vehicles, up 73.70% year on year. The cumulative sales volume was 542,679 units, up 71.35% year on year. Among them, the cumulative sales volume of new energy vehicles was 418,619 units, up 212.03% year on year.
It can be seen that in October, BYD's new energy vehicles accounted for more than 90% of its total vehicle sales.
Among them, Han model achieved the achievement of monthly sales exceeding 10,000 for the sixth time, and the sales volume reached 11,087 units in October, up 46.9% year on year and 8.1% month on month, achieving positive sales growth for 7 consecutive months. Specifically, in October, the sales volume of HAN EV was 8287 units, up 63.9% year on year, and that of HAN DM was 2800 units, up 12.4% year on year, maintaining steady growth. Since its listing, THE cumulative sales volume of BYD Han has exceeded 130,000 units, and it continues to lead the market of medium and large sedans of Chinese brands.
In addition, according to the estimate of Insurance Securities, BYD's car sales are expected to reach 1.45 million units in 2022, including 1.28 million new energy passenger vehicles. There is still a large space for improving the profit of each vehicle (DMi investment is small, depreciation & amortization of each vehicle drops significantly, and the cost of each vehicle also drops significantly).
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