BYD (HKG:1211, SHE:002594) plans to conduct shareholder deposit business with BYD Auto Finance, with the deposit capped at 40 billion yuan, according to a Shenzhen Stock Exchange disclosure on Monday.

The deposit interest rate will be based on the People's Bank of China's deposit benchmark rate, plus a floating rate determined by both parties. The upper limit for the deposit interest is 1.2 billion yuan, the Chinese electric vehicle manufacturer said.

The company's Hong Kong shares closed less than 4% lower.