BYD Confirms Direct Investment in ChangXin Memory A-Round; Wang Chuanfu Did Not Invest Personally

Li Yunfei, general manager of BYD Group's brand and public relations department, responded that BYD chairman Wang Chuanfu did not directly invest in ChangXin Memory. All of BYD's investments are made directly by BYD Co. , Ltd. , which does not manage third-party funds or personal funds of executives. BYD Co. indirectly participated in ChangXin Memory's A-round financing in December 2020 through an investment in Guangdong Yifang Changda Venture Capital Partnership (Limited Partnership).

Equity data shows that ChangXin Memory completed its A-round in December 2020, raising 15.65 billion yuan. Investors included Shenzhen Zhaoyin Yunting Growth Equity Investment Fund Partnership (Limited Partnership), Anhui state-owned capital, Zhaoyi Innovation, TCL Capital, and the Xiaomi Yangtze River Industry Fund. Equity penetration reveals that Shenzhen Zhaoyin Yunting Growth Equity Investment Fund Partnership (Limited Partnership) holds 1.42% of ChangXin Memory, while Guangdong Yifang Changda Venture Capital Partnership (Limited Partnership) is its largest shareholder with a 30% stake. BYD is the second-largest shareholder of Guangdong Yifang Changda, holding a 15.5715% stake.

Wang Chuanfu is the actual controller, legal representative, and beneficial owner of BYD Co. , with a 16.9% shareholding. Li Yunfei stated that apart from BYD, Wang Chuanfu has not personally invested in any company. On July 27, domestic DRAM leader ChangXin Memory officially debuted on the STAR Market, with its share price surging on the first day and closing with a market capitalization of 3.27 trillion yuan, making it the highest-valued company on the A-share market.