Key Developments: BYD Co Ltd (BYDDY.PK)
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Latest Key Developments (Source: Significant Developments)
BYD Electronic International Co Ltd's Huizhou Electronic Conditionally Agreed To Purchase Target Assets of BYD Co Ltd's BYD Huizhou Battery
BYD Electronic International Co Ltd announced that on May 3, 2013, Huizhou Electronic, a company wholly owned by the Company, entered into the Agreement with a wholly owned subsidiary of BYD Co Ltd, namely BYD Huizhou Battery, pursuant to which BYD Huizhou Battery has conditionally agreed to sell and Huizhou Electronic has conditionally agreed to purchase the Target Assets at a total consideration of RMB208,210,574 (equivalent to approximately HKD262,137,113). Pursuant to the Agreement, Huizhou Electronic has conditionally agreed to acquire and BYD Huizhou Battery has conditionally agreed to sell the Target Assets, which include: two parcels of land located at South of Xiangshuihe, Daya Bay West, Huizhou City, Guangdong Province, the PRC of a total site area of approximately 417, 244 sq.m. (the Land); six factory buildings with a planned total gross floor area of approximately 169,568.39 sq.m, as well as related ancillary facilities; and other related machineries, including power distribution cabinets, transformers and variable-frequency pump sets. Completion shall take place upon the payment of consideration in respect of the Target Assets, subject to the conditions that the representations and warranties given by BYD Huizhou Battery in the Agreement remain true, accurate and not misleading, and the parties having obtained all applicable and necessary consents and approvals and all transactions contemplated thereunder or such later date as may be agreed between the parties. Full Article
BYD Co Ltd Does Not Declare Dividend
BYD Co Ltd announced that the Board does not recommend the payment of a final dividend for the year ended December 31, 2012. Full Article
BYD Co Ltd To Launch A Joint Venture In Bulgaria-Reuters
Reuters reported that BYD Co Ltd said it would launch a joint venture in Bulgaria to produce electric buses, marking its first assembly plant overseas. A BYD spokeswoman declined to disclose investment details about the 50-50 joint venture with Bulgarian energy firm Bulmineral, which will be based in Breznik, a small town about 50 km (30 miles) west of Sofia. Full Article
Jiangsu Akcome Solar Science & Technology Co Ltd Signs Strategic Cooperative Framework Agreement with BYD Co.,Ltd
Jiangsu Akcome Solar Science & Technology Co Ltd announced that it has signed a strategic cooperative framework agreement with BYD Co.,Ltd, for their joint research and development of new energy photovoltaic power generation applications project. Full Article
BYD Co Ltd Issues FY 2012 Net Profit Outlook
BYD Co Ltd announced that it expects its net profit for fiscal year (FY) 2012 to be approximately RMB 27.69 million to RMB 110.77 million, or to decrease by 92%-98%, compared to that of FY 2011 (RMB 1,384,625,000). The Company cited the downturn of domestic macroeconomics situation, slowdown of market demand and intense market competition as the main reasons for this forecast. Full Article
BYD Co Ltd Does Not Recommend Interim Dividend
BYD Co Ltd announced that the board has not recommend the payment of interim dividend for the reporting period (For the six months ended June 30, 2011: Nil). Full Article
BYD Company Limited Issues Corporate Bonds
BYD Company Limited announced that it has issued RMB 3,000 million worth of corporate bonds, each with par value of RMB 100, with a coupon rate of 5.25%. Full Article
BYD Company Limited to Issue Corporate Bonds
BYD Company Limited announced that it will issue RMB 3,000 million worth of corporate bonds, each with par value of RMB 100, a term of five years and a coupon rate ranging from 5.2% to 6.2%. Full Article
BYD Company Limited Announces Change in Accounting Policy
BYD Company Limited announced that it will change the depreciation period for new furniture, office equipment and electronic equipment from five years to not more than five years, effective March 1, 2012. Full Article
BYD Company Limited Does Not Recommend Final Dividend
BYD Company Limited announced that the Board does not recommend the payment of a final dividend for the year ended December 31, 2011. Full Article
CORRECTED-BYD's electric taxis hit Hong Kong roads with big ambitions
(Corrects 12th paragraph to say 12,000 diesel-fuelled buses, not 2,000 buses)
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