The success in the field of new energy vehicles and power batteries has given BYD the right to speak in the transformation from traditional vehicles to the new four modernizations. Therefore, when BYD gathered funds to develop semiconductor business, investment institutions were very willing to "throw money" and the "Matthew effect" began to appear in the blue ocean of semiconductors.
Two rounds of financing in 42 days, with a valuation of10 billion.
A few days ago, BYD officially announced that BYD Semiconductor Co., Ltd. completed the A+ financing of 799 million yuan after the A+financing of 65.438+09 billion yuan, and the post-investment valuation exceeded/kloc-0.00 billion yuan.
BYD also said that after the completion of this capital increase and share expansion, the registered capital of BYD Semiconductor will increase to 465,438,000 yuan, and the company holds 72.3% of the shares of BYD Semiconductor, which is still a holding subsidiary of BYD and still included in the company's consolidated statement.
In the first round of financing, the investors are well-known domestic and foreign investment institutions, and the leading investors are Sequoia Capital, CICC Capital and SDIC Innovation, Himalayan? Institutions such as capital participated in the subscription.
It is precisely because the semiconductor capital increase and share expansion project has attracted the favor of many financial and industrial investors. Considering the integration and cooperation of various business resources to be implemented in the future, BYD has carried out the second round of introduction.
In the second round of strategic investment, the investors include SK Group, Xiaomi Group, Lenovo Group, SMIC Juyuan, BAIC Investment, SAIC Investment, Shenhuaqiang, Blue Ocean Hua Teng, Enliven, CMB International, CITIC Industrial Fund, Hou 'an Fund and many other A+ round investment shares or funds.
According to the information disclosed by BYD, after the financing is completed, BYD will accelerate the spin-off and listing of BYD Semiconductor.
Face up to technical competition
BYD Semiconductor's core business is mainly car regulations? IGBT？ What about industry? IGBT？ Two areas. Since the establishment of the team in 2005, BYD has been developing IGBT 15 years, which makes BYD the first company in China to realize vehicle classification? IGBT？ Mass production and the only person who owns it? IGBT？ Car companies with complete industrial chain.
IGBT？ (insulation? The gate? Bipolar disorder? Transisto) is called insulated gate bipolar transistor in Chinese. Perhaps in the eyes of semiconductor manufacturers, IGBT is only a discrete device, but this small device has now become the most technologically advanced product in electronic equipment and completely replaced the traditional power supply? MOSFET is called the "CPU" of power electronic devices, which is equivalent to the human brain.
As the core devices of energy conversion and transmission, IGBT chip and power battery are called "dual cores" of electric vehicles. It plays an important role in the new energy automobile industry and is widely used, including electronic control system, vehicle air conditioning control system, charging pile and so on. In terms of cost ratio, IGBT module accounts for nearly 10% of the cost of electric vehicles and about 20% of the cost of charging piles.
In addition, in the smart grid, no matter the transmission terminal, substation terminal or power terminal, the application of IGBT is indispensable.
At present, the global IGBT market is dominated by mainstream international manufacturers such as Infineon, Fuji and Mitsubishi. International manufacturers started early and invested heavily in R&D, so they have high patent barriers. Domestic IGBT is also highly dependent on foreign countries, 90% of which need to be imported. Coupled with the adaptive characteristics of IGBT, it is very difficult to purchase and support process equipment.
China's power semiconductor technology is still in its infancy, and generally adopts the mode of "design+OEM", that is, the design company provides the chip design scheme, and some domestic integrated circuit companies produce it on OEM basis. With the rapid development of new energy vehicles and the improvement of infrastructure in China, the gap between supply and demand of IGBT will become more and more obvious. It is imperative to break the international monopoly and realize independent research and development and domestic substitution.
The advanced road of suppliers
Since the establishment of a joint venture with Changan Automobile to establish a power battery company, BYD's supplier road in the field of automobile manufacturing can be said to have really begun, and the agreements signed with Audi and Jaguar Land Rover have further consolidated its supplier position. According to the plan, BYD will be in? 2022? The whole battery business was split and listed independently during the year.
Obviously, BYD Semiconductor is prepared to go the same way.
At the end of 20 18, BYD released IGBT4.0 technology. It is understood that this technology is superior to mainstream products in many key performance indicators, such as current output capacity of 15%, comprehensive loss reduction of 20%, and temperature cycle life of mainstream similar products can reach more than 10 times. It can be said that this technology is from China? IGBT？ The masterpiece of the rise of the chip also broke the situation that high-performance IGBT was controlled by people.
The data shows that BYD is currently? IGBT？ What is the monthly production capacity of chip wafers? 10? 10 thousand yuan, the car with the most new energy supply every year? 120? Ten thousand cars. At the end of April 2020, BYD IGBT project started in Changsha. It is understood that the total investment of the project is 65.438 billion yuan, and an annual output of 250,000 8-inch new energy vehicle electronic chip production lines will be built, which can meet the production demand of loading 500,000 new energy vehicles every year. After the project is put into production, it is estimated that the annual operating income will reach 800 million yuan and the annual profit will be about 40 million yuan.
On the other hand, BYD is still in-depth cooperation with Huawei for in-vehicle chips.
It is understood that Huawei Kirin chip is independently exploring the application in the field of automotive digital cockpit. The first product is Kirin 7 10A, and a cooperation agreement has been signed with BYD. BYD also responded: "We have got Kirin's chip technology documents and started research and development." "For several months, Kirin Chip has been expanding the automobile market. At present, it mainly locks BYD and hopes to open the market with the help of models. "
Anyone who knows a little about Huawei chips knows that Kirin chip is a mobile phone chip developed by Huawei Hisilicon. At present, it is only available to Huawei mobile phones and HONOR. However, Huawei's research and development of this product has never stopped, and it is not surprising that it is the first to be used in BYD products.
The title reads:
On the one hand, we devote ourselves to research and development, on the other hand, we firmly grasp Huawei, an industry giant. BYD has made no secret of its ambition to become a top supplier in the field of automotive chips.
It is an inevitable trend for the global automobile industry to develop towards electrification and intelligence. IGBT can improve the efficiency of electricity consumption and is the key supporting technology to solve the energy shortage problem and reduce carbon emissions.
At the same time, from semiconductors to chips, this is a blue ocean that needs to be quickly occupied by domestic car companies. Although BYD has made some breakthroughs, it is still difficult to occupy the market and become a supplier. It is worth looking forward to whether BYD, which holds funds, can grasp the development window and quickly become a "unicorn" during the period of tight funds in various industries under the black swan epidemic.
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