1Mon·

BYD Chaos explained: Bonus shares, capitalization shares AND ADR split

Hey everyone

There seems to be only one topic today:

"Did BYD ($1211 (-4.59%) ) made a stock split or not?"

And why do some of the charts look different?

I'll try to roll it all up neatly here, because BYD is currently taking two different measures at the same time - and this is causing maximum confusion.

What has BYD decided in China/HK?

On June 6, 2025 the shareholders approved at the AGM:

8 bonus shares for every 10 shares (from the profit carried forward)
12 capitalization shares per 10 shares (from capital reserves)

Ex date: June 10, 2025

Record Date: June 11, 2025

Credit note: Should have taken place.

This means that anyone who had BYD shares (A or H shares) in their securities account on this date will automatically be credited with these bonus shares. There will be no new fundsthe number of shares increases massively and the share price is adjusted mathematically. ADR and ADS should also have received corresponding bookings.

Why does this look like a split in the chart?

Because the stock exchange systems treat such bonus shares in almost exactly the same way as a stock split:

The number of shares is increased
The price is automatically reduced by the corresponding factor
The historical price series is often adjusted retroactively

As a result the chart looks "smooth" and you do not recognize a large drop. I'm not a fan of the false representation - but so be it... Bonus shares therefore look like a split in the chart - even if they are not one in accounting terms.

Your portfolio value remains the same, only the number of shares has changed.

What about the split? (ADR)

Now comes the second construction site:

For the US ADRs (BYDDY / BYDDF) there are apparently additionally a real 6-to-1 split:

ratio: 1 ADR is split into 6 ADRs (you get 5 new pieces for free)
Record Date (ADR): June 11, 2025
Payable Date: July 29, 2025
Trading on a split basis: As of July 30, 2025

This only concerns the ADRs, not the normal BYD shares in China or Hong Kong

🔴! I could not find any communication from BYD, only from BNY Mellon, who issue and manage ADRs (service provider).

If I am wrong here, please post a communication from a (good) house bank. 🙏 To err is human :-D

What does that mean for you specifically?

Do you have A or H shares?
You will receive the free shares at the end of July.
Do you have ADRs (BYDDY / BYDDF)?
In addition to the bonus package (because the ADRs represent the shares) there will be a 6:1 split at the end of July.
Deposit value for both options:
Nothing changes in value in the short term.

So why the confusion?

Many brokers simply write "share split" in the securities account because it is easier for the system.
In reality, there are two different mechanisms:

Bonus & capitalization shares (China/HK)

Separate 6:1 split (only for ADRs)

So there were bothBonus shares/capitalization shares and an ADR split.
Charts look like a split because the number of shares and price are adjusted.
Anyone who had BYD in their portfolio does not have to do anything. The new shares are added automatically.
On Getquin, however, not everyone has linked the "correct" position in questions and posts.
$1211 (-4.59%) is the SHARE
$BYDDY (-7.92%) is the ADR (one of the ADRs)
And unfortunately: here at GQ, the issue of "bonus shares" is also considered a split.

Hope that helps. 🙏👍

Happy Investing

Sources:

Official HKEX announcement dated April 22, 2025, AGM resolution June 6, 2025

ADR note from BNY Mellon (Payable 29.07.2025, split 30.07.2025)

26 Comments

investment_guru_2035@investment_guru_2035

1Mon

Thank you for the detailed and clear explanation 👍
I think most people are mainly concerned with the operational implementation in the portfolio: shares are missing, the value of the BYD position has been roughly tripled since mid-June - and it was announced at TR that the dividend would be paid on July 29 and the shares would be increased. This has - as of now and in my case - not yet happened. I think that's where most of the questions come from, some of them with the wrong wording.

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GeldGenie@GeldGenie

4Wk

@investment_guru_2035 Thank you for the insight! 🙏👍

Thirds in value would be correct in terms of the ratio of shares outstanding to shares issued (10:30 - 1:3).

However, this is a TR-specific problem. Mine at $SQN have been booked correctly for a long time. No one can answer the question "When will they come" anyway, and if so, TR can answer it directly. I wonder what the point of posting in a broker-independent forum is. 🙈 As if Christian Hecker were reading along and would then take care of it 😅

••

investment_guru_2035@investment_guru_2035

4Wk

@GeldGenie Maybe it comforts people who ask themselves "Where's my money?" (in the end it's about this question) when they know that others are still asking this question too 😅 I feel the same way...

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GeldGenie@GeldGenie

4Wk

@investment_guru_2035 Has been deposited with the clearing office. Should be credited retroactively with the value date.

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investment_guru_2035@investment_guru_2035

4Wk

@GeldGenie I see you're a professional 😃

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Rainerd@rainerd

4Wk

I (Comdirect) haven't booked anything yet either. I don't think anyone is being forgotten, but it's still annoying.

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trade_samurai_1638@trade_samurai_1638

4Wk

I still haven't booked the free/capitalization shares with Consors. Inquiries simply remain unanswered.

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GeldGenie@GeldGenie

1Mon

@Multibagger That's right, most people won't be interested in accounting details. Even if it is subjectively exciting haha ^^

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profit_architect_2560@profit_architect_2560

4Wk

Hello everyone,
As a beginner, I have to ask about the bonus shares at BYD. If you get a bonus, you should have more than before, also in terms of value.
But since the share was only worth 1/3 and now 2/3 (bonus shares) have been added to the portfolio, I'm back to 3/3 = 1.
So everything is just a split, except that BYD has obtained a free loan for about 6 weeks.
Nothing feels like a bonus here, unless someone else has stuffed their pockets with my alleged bonus...

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GeldGenie@GeldGenie

2Wk

@profit_architect_2560 As an investor: Split

But is treated differently in accounting terms. In the same way, a payout is a dividend for you. However, this can be distributed from profit or from capital reserves and has other effects

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FutureAmexBlack@FutureAmexBlack

4Wk

Does anyone have any idea how I can get the getquin display to work properly again?
Currently I have received the "split", i.e. the 3-fold share, but my buy in has not tripled

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Staatsmann@Staatsmann

4Wk

@FutureAmexBlack Set the purchase price of the newly registered shares to close to €0 if you are resident in Germany for tax purposes.

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Spielwiese@Spielwiese

4Wk

@Kundenservice

Is there already a timetable for when this split will be displayed correctly? The invested share does not match the actual value, which is why the display is sometimes considerably distorted.

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Kundenservice von getquin@Kundenservice

4Wk

@Spielwiese The corporate action with 22:10 is in the database and is also carried out correctly in the portfolio.

Any additional shares must be entered manually as "rewards".
For taxpayers in Germany, this would be at a purchase price close to €0, e.g. €0.0000001 per share.
However, depending on other local tax liabilities, it may also be necessary to select the price at the time of booking, as taxes are also incurred directly for the new shares apart from the 22:10 capital measure.

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investment_guru_2035@investment_guru_2035

4Wk

For your information: The missing shares have just been booked in for me (Trade Republic).

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Boersen I.@Boersen-Info

4Wk

@investment_guru_2035 Have you paid taxes? ADR or H?

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Elsa E.@EpsEra

4Wk

👋 I also have TR on it

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Luke@Klassi

4Wk

I also have them in TR now, but with the wrong buy-in. I'm wondering whether I can trick the system and now realize the "loss" shown and then buy again?

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Mac Moneysac@Kronos_

4Wk

What is the current share price now? Do they say only 3$ after the split?

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Winkl@Winkl

4Wk

Trade republic not yet booked in here.

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Cashkatze@Cashkatze

4Wk

Unfortunately not yet at bitpanda.

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Mac Moneysac@Kronos_

4Wk

@Cashkatze wait you have shares in bitpanda?????🚨

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Cashkatze@Cashkatze

4Wk

@Kronos_ yes, but only two positions on btc when I moved out, a bit of play money

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Stig C.@Sharehoff

4Wk

In my securities account, I can't see the one number because of all the numbers. What was the conversion rate? Before the measure, I had 50 shares at a purchase price of € 19; now I have 150 shares at a new purchase price of? Can someone enlighten me?

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Kundenservice von getquin@Kundenservice

4Wk

@Sharehoff 50 * 2.2 = 110 shares
19€ / 2.2 = 8.636€ per share.
(The bottom line is that the invested capital remains the same).

Depending on the local tax liability, the missing 40 shares are either booked in with a purchase price of €0, which does not affect the total invested capital and therefore reduces the purchase price per share, or treated with an accounting value at the time of booking in, which also has a corresponding effect on the purchase price per share.

In Germany, shares are generally booked with a valuation of € 0.

Important:
In the display, this can lead to a purchase price per share that is too high/low for brokers. However, the final tax calculation should then be correct.

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Dustin H.@usera33cb8f77d4a4516

3Wk

At TR they were in quickly, but now I received a letter saying that I had to pay additional tax.

In other words, I have a big loss because the share price has fallen in proportion, but I still have to pay tax on the new shares?

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