Desay SV completes RMB 4.4 bn A-share placement

Huizhou Desay SV Automotive Co., Ltd. has completed its 2024 private placement of A-shares, raising RMB 4,398,799,965.00 through the issuance of 41,893,333 shares at RMB 105.00 per share. The new shares are expected to list on the Shenzhen Stock Exchange on October 24, 2025, with a six-month lock-up period for subscribers.

The proceeds, after deducting issuance expenses, will primarily fund three strategic projects: the Huizhou Desay SV Automotive Western and Central Base Construction Project (Phase I), the Smart Automotive Electronic Systems and Components Production Project, and the Smart Computing Center and Cockpit Integration Platform R&D Project. The company’s total share capital will increase from 554,949,301 shares to 596,842,634 shares post-issuance.

Existing shareholders, including Huizhou Innovation Investment Co., Ltd. and Guangdong Desay Group Co., Ltd., saw their stakes passively diluted from 21.68% to 20.16% and 28.31% to 26.32%, respectively, due to the increased total share capital. All board members and senior management maintained their direct shareholdings.