[High-tech LED News] BYD (1211.HK) fell sharply in Hong Kong trading on Wednesday, closing down 4.79% to close at 23.85 Hong Kong dollars. Mainly due to the announcement on Wednesday that BYD's net profit in the first quarter fell by 84% year-on-year. BYD A shares are expected to issue 64 million shares of ordinary shares, which will also be listed on the Shenzhen Stock Exchange on the Shenzhen Stock Exchange tomorrow (June 30). The stock is referred to as “BYD” and the stock code is “002594”.

According to the announcement, BYD's A-share issue price is 18 yuan/share, corresponding to a price-to-earnings ratio of 20.47 times, and the total number of issued shares is 79 million shares, of which 64 million shares are issued online, and the total issued share capital is 2.354 billion shares. In this IPO, BYD's online winning rate is about 4.49%, the subscription multiple is 22 times, the offline placement rate is 20.55%, and the subscription multiple is 4.9 times.

In this regard, industry insiders said that BYD chose to go public at this time, indicating the urgency of the company's financing, highlighting the development dilemma facing BYD.

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