Shanghai (ZXZC)- BYD Company Limited (BYD) has acquired 6.93% equity stake in Allystar Technology (Shenzhen) Co.,Ltd. (Allystar), a Shenzhen-headquartered chipset developer, becoming one of the five shareholders newly added on October 15 to the latter's investor lineup, according to the corporate data platform Tianyancha.

Meanwhile, the registered capital of Allystar has increased 4.17% to 588,596,541 yuan ($87,890,880).

Photo credit: Allystar

Founded on 2016, Allystar is a spin-out from the GNSS (Global Navigation Satellite System) chipsets designing department of China Electronics Corporation (CEC), and is now a joint venture invested by CEC, BAIC Group, SAIC Motor, Ningbo Bird and Jinjia Group, according to the introduction of the company's official website. It is dedicated to the designing, R&D and sale of GNSS chips and relevant algorithm and products, offering chipsets and application solutions to terminal market of consumer electronics, national vital industry, automotive and IoT industries.

Since the foundation of BYD Microelectronics (now BYD Semiconductor) in 2002, BYD has made remarkable achievements in the fields of IGBT (insulated gate bipolar transistor), SiC semiconductor power devices, MCU (microcontroller unit), embedded fingerprint recognition sensor, CMOS (complementary metal–oxide–semiconductor) sensor, current & voltage sensor, and other intelligent sensors.

BYD announced on April 14 it had completed the internal restructuring of its wholly-owned subsidiary Shenzhen BYD Microelectronics Co., Ltd. (BYD Microelectronics) and renamed it BYD Semiconductor, which would seek to go public at an appropriate moment.

In the first half of 2020, BYD Semiconductor nabbed a total of 2.7 billion yuan ($403,171,560) from 44 investors, which will give it significant impetus to the process of becoming a publicly-listed company.