AutoBeta(AutoBeta.net)05/20 Report--

On May 18, Wang Chuanfu officially stepped down as the legal representative of BYD Automobile Co., Ltd., and no longer holds the post of chairman of the company. In fact, Wang Chuanfu has recently stepped down as the legal representative and chairman of a number of BYD subsidiaries.

According to the enterprise information checked by Tianyan, a number of industrial and commercial changes have taken place in BYD Automobile Co., Ltd. Wang Chuanfu stepped down as the company's legal representative and chairman, and his successor is he Zhiqi, while he Zhiqi holds the post of general manager of the company.

According to the data, BYD Automobile Co., Ltd. was established in March 1997 with a registered capital of 1.351 billion yuan. the company's business scope includes auto parts and accessories manufacturing, urban rail transit equipment manufacturing, construction machinery manufacturing, battery manufacturing, electronic components manufacturing and so on. According to the shareholding ratio of BYD Automobile Co., Ltd., the A-share listed company BYD Co., Ltd. holds 99%, and Shaanxi Huaqin Investment Group Co., Ltd. holds 1%.

At present, Wang Chuanfu is still the legal representative and chairman of BYD Co., Ltd., with a shareholding ratio of 18.83%.

According to Tianyan check information, Wang Chuanfu has stepped down as legal representative and chairman of 15 BYD subsidiaries since the beginning of this year. Including Shanghai BYD Co., Ltd., Ningbo BYD Automobile Co., Ltd., Jilin BYD Industrial Co., Ltd., Changsha BYD Automobile Co., Ltd., Xi'an BYD Industrial Co., Ltd., Shantou BYD Industrial Co., Ltd., Qinghai BYD Lithium Battery Co., Ltd., Huizhou BYD Industrial Co., Ltd.

It is worth noting that although many of BYD's subsidiaries have changed their legal persons, the operation and ownership structure of each company have not changed.

It has been pointed out that Wang Chuanfu's departure may be due to internal management considerations, handing over the actual management to others, while Wang Chuanfu still has a say and focuses more on the strategic level.

So far, BYD has not responded to Wang Chuanfu's resignation from a number of subsidiaries.

BYD's total sales in 2019 were 461400, down 11.39 per cent from a year earlier, of which sales of new energy vehicles were 229500, down 7.39 per cent from a year earlier. In terms of performance, BYD's revenue in 2019 was 121.78 billion yuan, basically the same as in 2018, while its net profit was 1.61 billion yuan, down 41.9 percent from the same period last year. It is reported that BYD received a total of 1.71 billion yuan in government subsidies in 2019.

In terms of main products, BYD mainly launched blade batteries this year, as well as the BYD medium-sized sedan with blade batteries, which is currently priced at 23-280000 yuan and will be officially launched in June.

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