HONG KONG SAR – Media OutReach – August 28, 2023 – BYD Company Limited (“BYD” or the “Company”, together with its subsidiaries known as the “Group”; stock code: 002594（SZSE）, 01211 (counter HKD) and 81211 (RMB Counter) today announced that its controlled subsidiary BYD Electronic (International) Company Limited (stock code: 285. HK) (“BYD Electronics”) and Jabil Inc, one of the largest service providers and of electronics manufacturing solutions in the world (the “Seller”) has signed a master acquisition agreement, to acquire the mobile electronics manufacturing business of the Seller for approximately 15.8 billion RMB (equivalent to US$2.2 billion) in cash, marking BYD Electronics’ expansion of the core supply chain for consumer electronics, further increasing its market share and consolidating its leadership position in industry.
The target business of this acquisition is the vendor’s product manufacturing business located in Chengdu and Wuxi, including component manufacturing for existing customers.
BYD Electronics is a premium manufacturing company based on a world-leading platform, engaged in a wide variety of businesses ranging from smart phones, tablet PCs, new energy vehicles, smart homes, gaming hardware, from unmanned aerial vehicles, Internet of Things, robots, communication equipment, health devices to other diversified market areas.
Mr. Wang Nianqiang, CEO of BYD Electronics, said, “This acquisition will expand the smartphone components business and mark the start of a new round of rapid growth. The acquisition will also ensure long-term sustainable development while creating value for customers and shareholders. from BYD Electronics.”
Mr. Kenny Wilson, CEO of Jabil, said, “This transformational deal would represent the largest transaction in our company’s history, and I am delighted to be able to work with a reputable company like BYD Electronics to successfully drive this business forward.” . »
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The issuer is solely responsible for the content of this announcement.
