This character is a Other Letter and is mainly used in the Han script. The Unihan Database defines it as eight; all around, all sides. Its Pīnyīn pronunciation is bā. The codepoint has the numeric value 8.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it is written from left to right. When changing direction it is not mirrored. U+516B offers a line break opportunity at its position, except in some numeric contexts. The glyph can be confused with 3 other glyphs.
The Wikipedia has the following information about this codepoint:
Radical 12 or radical eight (八部), meaning eight or all, is one of 23 of the 214 Kangxi radicals that are composed of two strokes. "八" is two bent lines that signal divide. Eight is the single-digit number that can be divided by two the greatest number of times.
In the Kangxi Dictionary, there are 44 characters (out of 49,030) to be found under this radical.
八 is also the 11th indexing component in the Table of Indexing Chinese Character Components predominantly adopted by Simplified Chinese dictionaries published in mainland China. 丷 is an associated indexing component affiliated to the principal component 八.