IT Home, March 4th news, BYD Company announced yesterday on the Hong Kong Stock Exchange that it has entered into a placement agreement with the placement agent. According to the agreement, BYD will issue placement shares at the placement price. Assuming all the placement shares are fully placed, the total proceeds from the placement are expected to be approximately HK$43.509 billion. After deducting commissions and estimated expenses, the net proceeds from the placement are expected to be approximately HK$43.383 billion (IT Home note: currently about RMB 40.688 billion). The placement price per share is HK$335.2 (currently about RMB 314).

This is the largest equity refinancing project in the global automotive industry over the past decade, the largest flash placement project in the history of the global automotive industry, the second-largest flash placement project in the history of the Hong Kong market, and the largest flash placement project in the industrial sector in the history of the Hong Kong market.

BYD Company announced that the net proceeds from the placement are intended to be used for group R&D investment, overseas business development, replenishment of working capital, and general corporate purposes.

The number of BYD placement shares this time is equivalent to approximately 11.82% of the existing 1.098 billion issued H-shares, and approximately 4.46% of the total number of issued shares as of the date of the announcement.

The Al-Futtaim family office from the UAE participated in this placement as a strategic investor. In the future, BYD and Al-Futtaim will deepen cooperation in areas such as new energy vehicles, using regional cooperation as a foundation to jointly explore further growth opportunities and synergies.

In the third quarter of 2024, BYD's revenue was 201.125 billion yuan, a year-on-year increase of 24.04%, surpassing Tesla for the first time as an electric vehicle company. In February 2025, BYD sold 3