BYD Company Limited (01211) has completed the delivery of shares in overseas new energy ICAR company acquired by HARMONY AUTO (03836).

On September 10, HARMONY AUTO (03836) announced that BYD Company Limited (01211) has completed the strategic investment delivery of HARMONY AUTO's overseas new energy ICAR company. The cooperation between the two parties has officially moved from business synergy to a new stage of capital synergy. Previously, BYD Company Limited subscribed for approximately 10% of the shares of HARMONY AUTO's overseas new energy ICAR company with $40 million, becoming an important strategic shareholder. Since the strategic cooperation between the two parties was launched overseas in October 2023, Harmony ICAR has successfully built and operated more than 100 BYD Company Limited outlets in over 20 countries and regions in Asia-Pacific, Europe, demonstrating outstanding international operational capabilities. Just before the completion of the equity delivery, HARMONY AUTO made new moves in its overseas expansion. On September 8, the first day of the 2025 Munich Motor Show in Germany, HARMONY AUTO's flagship store with both BYD Company Limited and Denza brands grandly opened in Munich, marking the first Denza brand flagship store in Europe. The opening of this store signifies the official entry of the Denza brand into the high-end market in Germany, and also adds an important support point to BYD Company Limited's channel layout in Europe. After this capital delivery, BYD Company Limited will fully empower HARMONY AUTO to accelerate its overseas new energy development strategy. With the expansion and operational efficiency improvement of HARMONY AUTO's outlets in core markets in Asia-Pacific and Europe, its position as a strategic partner of BYD Company Limited overseas will be further consolidated. In the global strategy of BYD Company Limited accelerating its internationalization, its value is expected to be reassessed. The release of the synergistic effects of both parties' capital is worth the continuous attention of the market.