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Wikipedia

Brilliance Auto Group

January 01, 1970

Huachen Automotive Group Holdings Co. Ltd., known for its brand name Brilliance Auto Group, was a Chinese multinational automobile manufacturer holding company headquartered in Shenyang.[6] Its products include automobiles, microvans, and automotive components.[7] Its principal activity is the design, development, manufacture and sale of passenger cars sold under the Brilliance brand.

Huachen Automotive Group Holdings Co. Ltd.
Brilliance Auto Group
Company typeState-owned enterprise
IndustryAutomotive
Founded
  • 1992; 32 years ago (1992) (Brilliance Auto)
  • 2002 (current incorporation of Huachen Automotive Group)
Founder
Headquarters
Shenyang, Liaoning Province
,
China
Area served
Exported worldwide
Key people
Yan Bingzhe(Chairman and Party Committee Secretary of the Group;[1] CEO of Brilliance Auto[2])
Wu Xiao-an(Chairman of Brilliance Auto; director of the Group[2])
Products
Brands
  • Brilliance
  • Huasong
  • Jinbei
  • Zhonghua
Revenue CNY181130 million (2019)
CNY000279 million (2019)
Total assets CNY195348 million (2019)
Total equity CNY004992 million (2019)
Owner
Liaoning Provincial Government(80%)
Liaoning Social Security Fund(20%)
Number of employees
 5,610 (Brilliance Auto only)[3] (2019)
ParentLiaoning Provincial Government's SASAC
SubsidiariesBrilliance Auto (SEHK: 1114; 42.32%)[4]
Chinese name
Simplified Chinese华晨汽车集团控股有限公司
Traditional Chinese華晨汽車集團控股有限公司
Hanyu PinyinHuáchén qìchē jítuán kònggǔ yǒuxiàn gōngsī
Literal meaning"China morning" automotive group holdings limited company
Transcriptions
Standard Mandarin
Hanyu PinyinHuáchén qìchē jítuán kònggǔ yǒuxiàn gōngsī
Brilliance Auto Group
Simplified Chinese华晨汽车集团
Traditional Chinese華晨汽車集團
Hanyu PinyinHuáchén qìchē jítuán
Transcriptions
Standard Mandarin
Hanyu PinyinHuáchén qìchē jítuán
Brilliance Auto
Simplified Chinese华晨汽车
Traditional Chinese華晨汽車
Hanyu PinyinHuáchén qìchē
Transcriptions
Standard Mandarin
Hanyu PinyinHuáchén qìchē
Yue: Cantonese
Yale Romanizationwàh sàhn hei chē
Jyutpingwaa4 san4 hei3 ce1
Websitewww.brilliance-auto.com
Footnotes / references
financial figures are from consolidated financial statements; profit and equity have excluded minority interest. Source:[5]
Brilliance Auto dealership in Beijing, China

Brilliance Auto Group holds a 42.32% shareholding in the Bermuda-incorporated Brilliance China Automotive Holdings Limited (commonly known as Brilliance Auto or Brilliance China), which is listed on the Frankfurt and Hong Kong stock exchanges.[8]

Brilliance China Automotive Holdings (Brilliance Auto) previously produced "Brilliance" branded cars under manufacturing unit Brilliance Motor which has since been sold to BMW. Brilliance Auto also holds 25% of BMW Brilliance, a joint venture with BMW which produces, distributes and sells BMW passenger cars in mainland China. It also holds a 51% stake of Renault Brilliance Jinbei, a joint venture with Renault which designs, develops, manufactures and sells light commercial vehicles under the Jinbei, Huasong and Renault brands. As of 2022 (VW), BMW holds 100% share in Brilliance Motor and 75% of BMW-Brilliance, controlling the majority of production capacity under Brilliance.

In 2010, Brilliance Auto Group and its subsidiaries had an annual production capacity of 800,000 vehicles[9] although capacity has come online since. In 2012, the company manufactured almost 650,000 vehicles, the eighth-largest production of any Chinese vehicle maker that year.[10] Roughly 70% of production was consumer sedans.

Brilliance steering wheel in the Brilliance BC3

History edit

Origins edit

The origins of Brilliance Auto Group (officially Huachen Automotive Group Holdings Company Limited) can be traced to a Chinese government-owned automobile factory which under founding chairman Yang Rong, became one of the leading Chinese makers of minibuses between 1991 and 2002.[6][11]

1990s edit

On 9, June 1992, a subsidiary, Brilliance China Automotive Holding Limited was incorporated in Bermuda.[12][13] In the same year, the company was registered as a foreign company in the Hong Kong Companies Registry. Initially, the subsidiary owned 40% stake of Shenyang Jinbei Coach Manufacturing Co. Ltd. (Chinese: 沈阳金杯客车制造有限公司),[14] while the rest of the stake was owned by another company, Shenyang Jinbei Automotive Company Limited (Chinese: 金杯汽车股份有限公司; SSE: 600609).[14][15] The ratio was later changed to 51% owned by Brilliance China Auto and 49% owned by Shenyang Jinbei Automotive.[14]: 244  The American depositary shares of Brilliance China Auto was floated in New York Stock Exchange from 1992[14] as NYSE:CBA. The company intended to delist from NYSE in 2007[16][17] and completed in 2009.[18]

In 1999, the Group injected most part of the group assets to the subsidiary, and the shares started to float in the Stock Exchange of Hong Kong (now part of Hong Kong Exchanges and Clearing) as SEHK:1114.[19] As of 31 December 2019, Huachen Automotive Group (Brilliance Auto Group) owned 42.32% shares of the listed company as the largest and controlling shareholder.[4]

The Group has another listed associate company that is listing in the Shanghai Stock Exchange: Shenyang Jinbei Automotive Company Limited. As of 31 December 2019, the Brilliance Auto Group, via an intermediate company Shenyang Automobile Industry Asset Management Company Limited (Chinese: 沈阳市汽车工业资产经营有限公司), owned 24.38% shares of that company as the largest and controlling shareholder.[20] It was planned to inject the stake into the major listed company of the group, Brilliance Auto, in 2003.[21] However, the deal was collapsed. Nevertheless, Shenyang Jinbei Automotive did not have the controlling interest on Shenyang Jinbei Coach Manufacturing since 1992, which is the predecessor of Brilliance Jinbei[22] (now Renault Brilliance Jinbei).

Shenyang Jinbei Automotive was listed in the stock exchange since 1992.[15] Shenyang Jinbei Automotive and Brilliance Auto Group were separate conglomerates, which the controlling stake of Shenyang Jinbei Automotive was acquired by FAW Group in 1995.[14]: 246 [23] Shenyang Automobile Industry AMC agreed to acquire 29.91% stake from FAW Group in 2000.[24][25]

2000s edit

In 2001, Shenhua Holdings agreed to acquire the shares of Shenyang Jinbei Automotive that held by Shenyang Automobile Industry AMC,[14]: 248 [25] allowing the Jinbei marque integrated into the Group. However, the deal revised into Brilliance Auto agreed to acquire the stake from Shenyang Automobile Industry AMC in 2003.[21][14]: 250–251  Despite the final deal became Brilliance Auto Group acquired Shenyang Automobile Industry AMC directly in April 2018 from the Shenyang Municipal People's Government, which in turn has the full control on the stake of Shenyang Jinbei Automotive that held by the AMC.[26]

In 2003, BMW and Brilliance Auto signed a deal for the production of BMW-branded sedans in China.[7]

In 2005, Brilliance planned an entry into the newly formed FIA World Touring Car Championship. However, the Brilliance WTCC program did not make the grid.[27][28]

From 2009 to 2011, the group was between the eighth-largest automaker in China.[29][30]

2010s to present edit

In 2012, Brilliance Auto Group formed a joint venture Brilliance Shineray (Chinese: 华晨鑫源) in Chongqing with Shineray Group[31] to produce SWM[32] and Jinbei[31] brand automobiles. As of 2019, Shineray Group owned 80% stake of that joint venture. The rest is owned by 沈阳华益新汽车销售有限公司.[33] The latter is not part of the Brilliance Auto Group,[34][35] but the Group provides guarantee to some debt of that company.[36]

In 2013, Brilliance Auto formed a spin-off, Xinchen China Power Holdings Limited.[37]

In 2017, Brilliance Auto also formed another joint venture Renault Brilliance Jinbei with Renault.[38][39] The Brilliance Auto acquired the remaining 39.1% stake of Brilliance Jinbei from sister company Shenyang Jinbei Automotive,[40] and then Brilliance Auto re-sold 49% stake to Renault.[41]

In October 2018, BMW Brilliance, a 50:50 joint venture between BMW and Brilliance, was taken over by BMW by acquiring an additional 25% of available shares.[42][43]

In November 2020, Brilliance Motor, Branded by Brilliance Auto Group, went into bankruptcy administration,[44] and announced the default of corporate bonds worth more than CNY6.5 billion.[45] The bankruptcy administration is not affecting subsidiaries Brilliance Auto, Xinchen China Power, Shenhua Holdings, Shenyang Jinbei Automotive, or any of the joint ventures operated by the organization.[45]

Products edit

Brilliance Auto Group and its subsidiaries sell passenger cars under the Brilliance marque

Brilliance products (produced under Brilliance Motor) edit

 
Brilliance Auto logo until 2002

Latest products edit

Earlier discontinued models edit


  •  
    Brilliance FSV
  •  
    Brilliance M2
  •  
    Brilliance V3
  •  
    Brilliance V5
  •  
    Brilliance V6
  •  
    Brilliance V7

Huasong edit

  •  
    Brilliance Huasong 7

Xinri edit

  • Brilliance Xinri i03
  •  
    Brilliance Xinri i03

Joint ventures and alliances edit

 
A BMW 5-Series LWB produced by BMW Brilliance

BMW Brilliance edit

Main article: BMW Brilliance

In 2003, BMW and Brilliance agreed to make select products of this German luxury carmaker in China.[7] As of 2010, the joint venture makes the BMW 3 Series and BMW 5 Series and had plans to introduce the BMW X1 by 2012.[46] As of 2011, locally produced engines were slated to appear in some offerings soon, and the company had plans to bring up total production capacity to 300,000 by 2013.[47]

These vehicles may differ slightly from those sold in other markets under the same names. As of mid-2010 almost 60% of the components used to manufacture the China-built BMWs were imported to China.[46]

  •  
    BMW Brilliance 1-Series F52
  •  
    BMW Brilliance 5-Series G38 Li
  •  
    BMW Brilliance X1-Series F49 Li

Brilliance Shineray edit

Main article: SWM (automobiles)

Brilliance Shineray is a joint venture between Brilliance Auto Group and Shineray Motorcycle Company (Shineray Group), one of China's largest[citation needed] motorcycle producers. Shineray Group bought the Italian motorcycle brand, SWM (motorcycles), and started an automotive brand with the SWM nameplate. SWM now makes a range of crossovers and compact MPVs.[citation needed]

Key models include:

  •  
    SWM G01
  •  
    SWM X3
  •  
    SWM X7

Renault Brilliance Jinbei (Jinbei) edit

Main article: Jinbei (marque)

Formerly a wholly-owned subsidiary (Shenyang Brilliance Jinbei Automotive) which sold licensed Toyota and General Motors designs, Jinbei was re-formed with Renault in 2017 with plans to launch light commercial vehicles and SUVs with Renault technology, under the Jinbei and Renault marques.

Key models include:

  •  
    Jinbei F50
  •  
    Jinbei Haixing X30
  •  
    Jinbei Tjatse S70

Operations edit

BMW-branded autos are made at a production base in the Northeastern Chinese city of Shenyang completed in 2004, and ongoing construction saw this base increase its production capacity to 200,000 units/year by 2012.[48]

An engine-making production base is located in Mianyang, Sichuan province.[9]

Sales edit

A total of 188,143 Brilliance marque vehicles were sold in China in 2013, making it the 25th largest-selling car brand in the country in that year (and the tenth largest-selling Chinese brand).[49]

European exports edit

In 2007, Brilliance's BS6 sedan performed poorly in a crash test conducted by Germany's ADAC, receiving only one out of five possible stars in the Euro NCAP rating.[50] Brilliance then redesigned the car, changing at least sixty components, and it saw a three-star performance in a crash test performed by Spain's Idiada.[51] However, the price also rose considerably,[52] and the importer (HSO Motors) went bankrupt in November 2009.[53] Brilliance then tried to go it alone, but with high pricing and considerable market reluctance after the well-publicized crash test failures, exports to Europe were ended in April 2010 with no immediate plans for resumption.[54]

SAIPA edit

Main article: SAIPA

In 2015, Brilliance announced it had started joint production with SAIPA of Iran, to produce the H300 and H200 models, under the local brand name of Saipa.[55]

References edit

  1. ^ 2019 年年度报告 [2019 Annual Report] (PDF) (Report) (in Chinese (China)). Shenhua Holdings. April 30, 2020. Retrieved November 21, 2020 – via Shanghai Stock Exchange website.
  2. ^ a b "Directors, Senior Management and Company Secretary" (PDF). 2019 Annual Report (Report). Brilliance China Automotive Holding. April 27, 2020. p. 37. Retrieved November 21, 2020 – via hkexnews.hk.
  3. ^ "Management's Discussion & Analysis" (PDF). 2019 Annual Report (Report). Brilliance China Automotive Holding. April 27, 2020. p. 35. Retrieved November 21, 2020 – via hkexnews.hk.
  4. ^ a b "Report of Directors" (PDF). 2019 Annual Report (Report). Brilliance China Automotive Holding. April 27, 2020. p. 22. Retrieved November 21, 2020 – via hkexnews.hk.
  5. ^ 2019年度报告 [2019 Annual Report] (PDF) (in Chinese (China)). Huachen Automotive Group Holdings. 2020. Retrieved November 21, 2020 – via Shanghai Clearing House.[permanent dead link]
  6. ^ a b Leung, Alison; Li, Fion (October 16, 2009). "Exiled China tycoon in U.S. clean vehicle plan". Reuters.com. Hong Kong. Retrieved November 21, 2020.
  7. ^ a b c "General Overview". Brilliance China Automotive Holdings. Retrieved November 21, 2020.
  8. ^ BRILL. CHINA AUT. DL-,01 Equity, ISIN BMG1368B1028, WKN 884968, CBA boerse-frankfurt.de
  9. ^ a b Brilliance Auto plans to build 30 special-vehicle production bases November 11, 2010, at the Wayback Machine gasgoo.com, November 8, 2010
  10. ^ . China Association of Automobile Manufacturers (CAAM). January 14, 2013. Archived from the original on January 15, 2013. Retrieved January 15, 2013. Please note that in order to reach the 944K figure you must total the output of Brilliance (华晨) as well as Jinbei (金杯)
  11. ^ . forbes.com. November 12, 2001. Archived from the original on October 26, 2012. Retrieved August 25, 2017.
  12. ^ "Equities Quote". Hong Kong Exchanges and Clearing. Retrieved November 21, 2020.
  13. ^ "Notes to the Consolidated Financial Statements" (PDF). 2019 Annual Report (Report). Brilliance China Automotive Holding. April 27, 2020. p. 99. Retrieved November 21, 2020 – via hkexnews.hk.
  14. ^ a b c d e f g 姚铮 (2016). 金杯华晨殊途同归. 上市公司管理经典案例 (in Chinese (China)). Beijing: Tsinghua University Press. ISBN 978-7-302-12396-5.
  15. ^ a b 金杯汽车股份有限公司股票上市报告书 (in Chinese (China)). Shenyang Jinbei Automotive. June 5, 1992. Retrieved November 21, 2020 – via jrj.com.cn.
  16. ^ "Brilliance Auto to delist from NYSE". China Daily. July 10, 2007. Retrieved November 21, 2020.
  17. ^ "BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED ANNOUNCES INTENTION TO WITHDRAW LISTING FROM THE NYSE" (PDF) (Press release). Brilliance China Automobile Holdings. July 5, 2007. Retrieved November 22, 2020.
  18. ^ "Deregistration under the United States Securities Exchange Act" (PDF) (Press release). Brilliance China Automobile Holdings. March 2, 2009. Retrieved November 22, 2020.
  19. ^ Chan, Christine (October 18, 1999). "Brilliance shunned by SAR investors". South China Morning Post. Hong Kong. Retrieved November 21, 2020.
  20. ^ 2019 年年度报告 [2019 Annual Report] (PDF) (Report) (in Chinese (China)). Shenyang Jinbei Automotive. April 30, 2020. p. 45. Retrieved November 21, 2020 – via Shanghai Stock Exchange website.
  21. ^ a b "NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS" (PDF). Interim Report 2011 (Report). Brilliance China Automotive Holdings. August 2011. p. 17. Retrieved November 21, 2020.
  22. ^ 华晨金杯汽车有限公司背景资料. auto.sina.com.cn (in Chinese (China)). April 14, 2003. Retrieved November 22, 2020.
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  24. ^ 2000年年度报告 (PDF) (Report) (in Chinese (China)). Shenyang Jinbei Automotive. 2001. Retrieved November 21, 2020 – via Shanghai Stock Exchange website.
  25. ^ a b 2001年年度报告 (PDF) (Report) (in Chinese (China)). Shenyang Jinbei Automotive. 2002. Retrieved November 21, 2020 – via Shanghai Stock Exchange website.
  26. ^ 2018 年年度报告 [2018 Annual Report] (PDF) (Report) (in Chinese (China)). Shenyang Jinbei Automotive. March 30, 2019. p. 9. Retrieved November 21, 2020 – via Shanghai Stock Exchange website.
  27. ^ "Batchelor 'very unlikely' to continue BTCC effort". November 2004.
  28. ^ Kilby, Michael (September 21, 2021). "Batchelor's Shot at Brilliance". Grand Prix Rejects. Retrieved October 8, 2022.
  29. ^ "BMW and China partner in $735 mln mainland expansion". Reuters.com. Beijing. November 12, 2009. Retrieved November 21, 2020.
  30. ^ . China Association of Automobile Manufacturers (CAAM). December 16, 2011. Archived from the original on January 5, 2012. Retrieved January 7, 2012.
  31. ^ a b [Company Profile] (in Chinese (China)). Brilliance Shineray. Archived from the original on February 22, 2020. Retrieved November 21, 2020.
  32. ^ 王海宣 (August 8, 2020). 斯威汽车的“神奇生存”：边缘品牌如何求生. eeo.com.cn (in Chinese (China)). Retrieved November 21, 2020.
  33. ^ The Board of Directors (August 28, 2020). 关于与华晨鑫源重庆汽车有限公司重新签订《注册商标使用许可合同》公告 (PDF) (Press release). Shenyang Jinbei Automotive. Retrieved November 22, 2020 – via Shanghai Stock Exchange website.
  34. ^ 公开发行2020年公司债券（面向合格投资者）（第一期）募集说明书摘要 (PDF) (Press release) (in Chinese (China)). Huachen Automotive Group Holdings. January 10, 2020. Retrieved November 22, 2020 – via Shanghai Stock Exchange website.
  35. ^ 王媛媛 (August 29, 2020). 华晨集团陷入债务危机，顺带“坑”了主承销商天风证券？. 21jingji.com (in Chinese (China)). Retrieved November 22, 2020.
  36. ^ 天风证券股份有限公司涉及重大诉讼的公告 (PDF) (in Chinese (China)). TF Securities. August 26, 2020. Retrieved November 22, 2020 – via Shanghai Stock Exchange website.
  37. ^ Yu, Jeanny; Chan, Ray (February 28, 2013). "Xinchen China on funding quest to ramp up output". South China Morning Post. Hong Kong. Retrieved November 21, 2020.
  38. ^ (Press release). Renault Brilliance Jinbei. October 25, 2018. Archived from the original on November 28, 2020. Retrieved November 21, 2020.
  39. ^ Hao Yan (July 5, 2017). "Renault acquires 49% of Brilliance JinBei for 1 yuan". China Daily. Retrieved November 21, 2020.
  40. ^ "Connected and Major Transaction: Acquisition of 39.1% Equity Interest in Shenyang Brilliance JinBei Automobile Co., Ltd" (PDF) (Press release). Brilliance China Automotive Holding. June 23, 2017. Retrieved November 22, 2020.
  41. ^ "Major Transaction: Disposal of 49% Equity Interest in Shenyang Brilliance JinBei Automobile Co., Ltd" (PDF) (Press release). Brilliance China Automotive Holding. July 4, 2017. Retrieved November 22, 2020.
  42. ^ He, Laura (October 12, 2018). "Brilliance Auto shares plunge by almost a third as BMW plans to buy control of Chinese joint venture". South China Morning Post. Hong Kong. Retrieved November 21, 2020.
  43. ^ "15 years BMW Brilliance Automotive: BMW Group strengthens commitment to China" (Press release). BMW. October 11, 2018. Retrieved November 21, 2020.
  44. ^ "Brilliance Auto's parent goes into bankruptcy procedure". Gasgoo. Retrieved September 15, 2021.
  45. ^ a b 贾璇 (November 20, 2020). 华晨集团正式进入破产程序：宝马、雷诺、金杯均不纳入重整 |投资人：投500万或只能收回30万. China Economic Weekly (in Chinese (China)). Retrieved November 22, 2020.
  46. ^ a b Brilliance China sees a "very satisfying" profit in 2010 March 25, 2013, at the Wayback Machine reuters.com, Fri May 28, 2010 1:15 am EDT
  47. ^ Brilliance Interim Report 2011, p. 32
  48. ^ For Shenyang production base, see BMW and China partner in $735 mln mainland expansion reuters.com, Thu Nov 12, 2009 2:13 am EST
    • For year completed, see Plant Introduction April 4, 2010, at the Wayback Machine BMW Brilliance Official site
    • For expansion plans, see Brilliance China sees a "very satisfying" profit in 2010 March 25, 2013, at the Wayback Machine reuters.com, Fri May 28, 2010 1:15 am EDT
  49. ^ "2013 Passenger Vehicle Sales by Brand". China Auto Web. January 15, 2014. Retrieved March 4, 2014.
  50. ^ "Another Chinese Car Flunks German Crash Test". Reuters. July 22, 2007.
  51. ^ Kujawska, Joanna (March 18, 2008). . Autochiny. Archived from the original on September 4, 2011.
  52. ^ . ChinaCarTimes.com. September 13, 2007. Archived from the original on March 23, 2008.
  53. ^ Hadyś, Michał (November 7, 2009). . Autochiny. Archived from the original on September 4, 2011. Retrieved 2011-02-05.
  54. ^ "China Automaker Brilliance Halts Europe Exports, Executives Say". AutoWeek.com. Crain Communications. April 29, 2010.
  55. ^ Persian Khodro (May 19, 2015). "Brilliance to Start Production Iran". Persian Khodro. Retrieved May 20, 2015.

External links edit

 
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  • Official website  

January 01, 1970
brilliance, auto, group, huachen, automotive, group, holdings, known, brand, name, chinese, multinational, automobile, manufacturer, holding, company, headquartered, shenyang, products, include, automobiles, microvans, automotive, components, principal, activi. Huachen Automotive Group Holdings Co Ltd known for its brand name Brilliance Auto Group was a Chinese multinational automobile manufacturer holding company headquartered in Shenyang 6 Its products include automobiles microvans and automotive components 7 Its principal activity is the design development manufacture and sale of passenger cars sold under the Brilliance brand Huachen Automotive Group Holdings Co Ltd Trade nameBrilliance Auto GroupCompany typeState owned enterpriseIndustryAutomotiveFounded1992 32 years ago 1992 Brilliance Auto 2002 current incorporation of Huachen Automotive Group FounderChinese GovernmentYang RongHeadquartersShenyang Liaoning Province ChinaArea servedExported worldwideKey peopleYan Bingzhe Chairman and Party Committee Secretary of the Group 1 CEO of Brilliance Auto 2 Wu Xiao an Chairman of Brilliance Auto director of the Group 2 ProductsAutomobilesAutomotive componentsBrandsBrillianceHuasongJinbeiZhonghuaRevenueCNY181130 million 2019 Net incomeCNY000 279 million 2019 Total assetsCNY195348 million 2019 Total equityCNY00 4992 million 2019 OwnerLiaoning Provincial Government 80 Liaoning Social Security Fund 20 Number of employees5 610 Brilliance Auto only 3 2019 ParentLiaoning Provincial Government s SASACSubsidiariesBrilliance Auto SEHK 1114 42 32 4 Chinese nameSimplified Chinese华晨汽车集团控股有限公司Traditional Chinese華晨汽車集團控股有限公司Hanyu PinyinHuachen qiche jituan konggǔ yǒuxian gōngsiLiteral meaning China morning automotive group holdings limited companyTranscriptionsStandard MandarinHanyu PinyinHuachen qiche jituan konggǔ yǒuxian gōngsiBrilliance Auto GroupSimplified Chinese华晨汽车集团Traditional Chinese華晨汽車集團Hanyu PinyinHuachen qiche jituanTranscriptionsStandard MandarinHanyu PinyinHuachen qiche jituanBrilliance AutoSimplified Chinese华晨汽车Traditional Chinese華晨汽車Hanyu PinyinHuachen qicheTranscriptionsStandard MandarinHanyu PinyinHuachen qicheYue CantoneseYale Romanizationwah sahn hei cheJyutpingwaa4 san4 hei3 ce1Websitewww wbr brilliance auto wbr comFootnotes referencesfinancial figures are from consolidated financial statements profit and equity have excluded minority interest Source 5 Brilliance Auto dealership in Beijing China Brilliance Auto Group holds a 42 32 shareholding in the Bermuda incorporated Brilliance China Automotive Holdings Limited commonly known as Brilliance Auto or Brilliance China which is listed on the Frankfurt and Hong Kong stock exchanges 8 Brilliance China Automotive Holdings Brilliance Auto previously produced Brilliance branded cars under manufacturing unit Brilliance Motor which has since been sold to BMW Brilliance Auto also holds 25 of BMW Brilliance a joint venture with BMW which produces distributes and sells BMW passenger cars in mainland China It also holds a 51 stake of Renault Brilliance Jinbei a joint venture with Renault which designs develops manufactures and sells light commercial vehicles under the Jinbei Huasong and Renault brands As of 2022 VW BMW holds 100 share in Brilliance Motor and 75 of BMW Brilliance controlling the majority of production capacity under Brilliance In 2010 Brilliance Auto Group and its subsidiaries had an annual production capacity of 800 000 vehicles 9 although capacity has come online since In 2012 the company manufactured almost 650 000 vehicles the eighth largest production of any Chinese vehicle maker that year 10 Roughly 70 of production was consumer sedans Brilliance steering wheel in the Brilliance BC3 Contents 1 History 1 1 Origins 1 2 1990s 1 3 2000s 1 4 2010s to present 2 Products 2 1 Brilliance products produced under Brilliance Motor 2 1 1 Latest products 2 1 2 Earlier discontinued models 2 2 Huasong 2 3 Xinri 3 Joint ventures and alliances 3 1 BMW Brilliance 3 2 Brilliance Shineray 3 3 Renault Brilliance Jinbei Jinbei 4 Operations 5 Sales 5 1 European exports 5 2 SAIPA 6 References 7 External linksHistory editOrigins edit The origins of Brilliance Auto Group officially Huachen Automotive Group Holdings Company Limited can be traced to a Chinese government owned automobile factory which under founding chairman Yang Rong became one of the leading Chinese makers of minibuses between 1991 and 2002 6 11 1990s edit On 9 June 1992 a subsidiary Brilliance China Automotive Holding Limited was incorporated in Bermuda 12 13 In the same year the company was registered as a foreign company in the Hong Kong Companies Registry Initially the subsidiary owned 40 stake of Shenyang Jinbei Coach Manufacturing Co Ltd Chinese 沈阳金杯客车制造有限公司 14 while the rest of the stake was owned by another company Shenyang Jinbei Automotive Company Limited Chinese 金杯汽车股份有限公司 SSE 600609 14 15 The ratio was later changed to 51 owned by Brilliance China Auto and 49 owned by Shenyang Jinbei Automotive 14 244 The American depositary shares of Brilliance China Auto was floated in New York Stock Exchange from 1992 14 as NYSE CBA The company intended to delist from NYSE in 2007 16 17 and completed in 2009 18 In 1999 the Group injected most part of the group assets to the subsidiary and the shares started to float in the Stock Exchange of Hong Kong now part of Hong Kong Exchanges and Clearing as SEHK 1114 19 As of 31 December 2019 update Huachen Automotive Group Brilliance Auto Group owned 42 32 shares of the listed company as the largest and controlling shareholder 4 The Group has another listed associate company that is listing in the Shanghai Stock Exchange Shenyang Jinbei Automotive Company Limited As of 31 December 2019 update the Brilliance Auto Group via an intermediate company Shenyang Automobile Industry Asset Management Company Limited Chinese 沈阳市汽车工业资产经营有限公司 owned 24 38 shares of that company as the largest and controlling shareholder 20 It was planned to inject the stake into the major listed company of the group Brilliance Auto in 2003 21 However the deal was collapsed Nevertheless Shenyang Jinbei Automotive did not have the controlling interest on Shenyang Jinbei Coach Manufacturing since 1992 which is the predecessor of Brilliance Jinbei 22 now Renault Brilliance Jinbei Shenyang Jinbei Automotive was listed in the stock exchange since 1992 15 Shenyang Jinbei Automotive and Brilliance Auto Group were separate conglomerates which the controlling stake of Shenyang Jinbei Automotive was acquired by FAW Group in 1995 14 246 23 Shenyang Automobile Industry AMC agreed to acquire 29 91 stake from FAW Group in 2000 24 25 2000s edit In 2001 Shenhua Holdings agreed to acquire the shares of Shenyang Jinbei Automotive that held by Shenyang Automobile Industry AMC 14 248 25 allowing the Jinbei marque integrated into the Group However the deal revised into Brilliance Auto agreed to acquire the stake from Shenyang Automobile Industry AMC in 2003 21 14 250 251 Despite the final deal became Brilliance Auto Group acquired Shenyang Automobile Industry AMC directly in April 2018 from the Shenyang Municipal People s Government which in turn has the full control on the stake of Shenyang Jinbei Automotive that held by the AMC 26 In 2003 BMW and Brilliance Auto signed a deal for the production of BMW branded sedans in China 7 In 2005 Brilliance planned an entry into the newly formed FIA World Touring Car Championship However the Brilliance WTCC program did not make the grid 27 28 From 2009 to 2011 the group was between the eighth largest automaker in China 29 30 2010s to present edit In 2012 Brilliance Auto Group formed a joint venture Brilliance Shineray Chinese 华晨鑫源 in Chongqing with Shineray Group 31 to produce SWM 32 and Jinbei 31 brand automobiles As of 2019 Shineray Group owned 80 stake of that joint venture The rest is owned by 沈阳华益新汽车销售有限公司 33 The latter is not part of the Brilliance Auto Group 34 35 but the Group provides guarantee to some debt of that company 36 In 2013 Brilliance Auto formed a spin off Xinchen China Power Holdings Limited 37 In 2017 Brilliance Auto also formed another joint venture Renault Brilliance Jinbei with Renault 38 39 The Brilliance Auto acquired the remaining 39 1 stake of Brilliance Jinbei from sister company Shenyang Jinbei Automotive 40 and then Brilliance Auto re sold 49 stake to Renault 41 In October 2018 BMW Brilliance a 50 50 joint venture between BMW and Brilliance was taken over by BMW by acquiring an additional 25 of available shares 42 43 In November 2020 Brilliance Motor Branded by Brilliance Auto Group went into bankruptcy administration 44 and announced the default of corporate bonds worth more than CNY6 5 billion 45 The bankruptcy administration is not affecting subsidiaries Brilliance Auto Xinchen China Power Shenhua Holdings Shenyang Jinbei Automotive or any of the joint ventures operated by the organization 45 Products editBrilliance Auto Group and its subsidiaries sell passenger cars under the Brilliance marque Brilliance products produced under Brilliance Motor edit nbsp Brilliance Auto logo until 2002 Latest products edit Earlier discontinued models edit Brilliance Tun Dolphin Brilliance BS2 Brilliance FRV Brilliance FRV Cross Brilliance FSV Brilliance H530 Brilliance H220 H230 Brilliance H320 H330 Brilliance M1 Zunchi Brilliance M2 Junjie Brilliance M3 Kubao Brilliance V3 Brilliance V5 Brilliance V6 Brilliance V7 Brilliance H3 nbsp Brilliance FSV nbsp Brilliance M2 nbsp Brilliance V3 nbsp Brilliance V5 nbsp Brilliance V6 nbsp Brilliance V7 Huasong edit Huasong 7 nbsp Brilliance Huasong 7 Xinri edit Brilliance Xinri i03 nbsp Brilliance Xinri i03Joint ventures and alliances edit nbsp A BMW 5 Series LWB produced by BMW Brilliance BMW Brilliance edit Main article BMW Brilliance In 2003 BMW and Brilliance agreed to make select products of this German luxury carmaker in China 7 As of 2010 the joint venture makes the BMW 3 Series and BMW 5 Series and had plans to introduce the BMW X1 by 2012 46 As of 2011 locally produced engines were slated to appear in some offerings soon and the company had plans to bring up total production capacity to 300 000 by 2013 47 These vehicles may differ slightly from those sold in other markets under the same names As of mid 2010 almost 60 of the components used to manufacture the China built BMWs were imported to China 46 nbsp BMW Brilliance 1 Series F52 nbsp BMW Brilliance 5 Series G38 Li nbsp BMW Brilliance X1 Series F49 Li Brilliance Shineray edit Main article SWM automobiles Brilliance Shineray is a joint venture between Brilliance Auto Group and Shineray Motorcycle Company Shineray Group one of China s largest citation needed motorcycle producers Shineray Group bought the Italian motorcycle brand SWM motorcycles and started an automotive brand with the SWM nameplate SWM now makes a range of crossovers and compact MPVs citation needed Key models include SWM G01 SWM X7 SWM X3 nbsp SWM G01 nbsp SWM X3 nbsp SWM X7 Renault Brilliance Jinbei Jinbei edit Main article Jinbei marque Formerly a wholly owned subsidiary Shenyang Brilliance Jinbei Automotive which sold licensed Toyota and General Motors designs Jinbei was re formed with Renault in 2017 with plans to launch light commercial vehicles and SUVs with Renault technology under the Jinbei and Renault marques Key models include Jinbei Konect Guanjing Jinbei New Haise Jinbei F50 Jinbei S70 Jinbei Haishiwang nbsp Jinbei F50 nbsp Jinbei Haixing X30 nbsp Jinbei Tjatse S70Operations editBMW branded autos are made at a production base in the Northeastern Chinese city of Shenyang completed in 2004 and ongoing construction saw this base increase its production capacity to 200 000 units year by 2012 48 An engine making production base is located in Mianyang Sichuan province 9 Sales editA total of 188 143 Brilliance marque vehicles were sold in China in 2013 making it the 25th largest selling car brand in the country in that year and the tenth largest selling Chinese brand 49 European exports edit In 2007 Brilliance s BS6 sedan performed poorly in a crash test conducted by Germany s ADAC receiving only one out of five possible stars in the Euro NCAP rating 50 Brilliance then redesigned the car changing at least sixty components and it saw a three star performance in a crash test performed by Spain s Idiada 51 However the price also rose considerably 52 and the importer HSO Motors went bankrupt in November 2009 53 Brilliance then tried to go it alone but with high pricing and considerable market reluctance after the well publicized crash test failures exports to Europe were ended in April 2010 with no immediate plans for resumption 54 SAIPA edit Main article SAIPA In 2015 Brilliance announced it had started joint production with SAIPA of Iran to produce the H300 and H200 models under the local brand name of Saipa 55 References edit 2019 年年度报告 2019 Annual Report PDF Report in Chinese China Shenhua Holdings April 30 2020 Retrieved November 21 2020 via Shanghai Stock Exchange website a b Directors Senior Management and Company Secretary PDF 2019 Annual Report Report Brilliance China Automotive Holding April 27 2020 p 37 Retrieved November 21 2020 via hkexnews hk Management s Discussion amp Analysis PDF 2019 Annual Report Report Brilliance China Automotive Holding April 27 2020 p 35 Retrieved November 21 2020 via hkexnews hk a b Report of Directors PDF 2019 Annual Report Report Brilliance China Automotive Holding April 27 2020 p 22 Retrieved November 21 2020 via hkexnews hk 2019年度报告 2019 Annual Report PDF in Chinese China Huachen Automotive Group Holdings 2020 Retrieved November 21 2020 via Shanghai Clearing House permanent dead link a b Leung Alison Li Fion October 16 2009 Exiled China tycoon in U S clean vehicle plan Reuters com Hong Kong Retrieved November 21 2020 a b c General Overview Brilliance China Automotive Holdings Retrieved November 21 2020 BRILL CHINA AUT DL 01 Equity ISIN BMG1368B1028 WKN 884968 CBA boerse frankfurt de a b Brilliance Auto plans to build 30 special vehicle production bases Archived November 11 2010 at the Wayback Machine gasgoo com November 8 2010 2012年12月分车型前十家生产企业销量排名 China Association of Automobile Manufacturers CAAM January 14 2013 Archived from the original on January 15 2013 Retrieved January 15 2013 Please note that in order to reach the 944K figure you must total the output of Brilliance 华晨 as well as Jinbei 金杯 China 100 Richest Businesspeople No 3 Yang Rong forbes com November 12 2001 Archived from the original on October 26 2012 Retrieved August 25 2017 Equities Quote Hong Kong Exchanges and Clearing Retrieved November 21 2020 Notes to the Consolidated Financial Statements PDF 2019 Annual Report Report Brilliance China Automotive Holding April 27 2020 p 99 Retrieved November 21 2020 via hkexnews hk a b c d e f g 姚铮 2016 金杯华晨殊途同归 上市公司管理经典案例 in Chinese China Beijing Tsinghua University Press ISBN 978 7 302 12396 5 a b 金杯汽车股份有限公司股票上市报告书 in Chinese China Shenyang Jinbei Automotive June 5 1992 Retrieved November 21 2020 via jrj com cn Brilliance Auto to delist from NYSE China Daily July 10 2007 Retrieved November 21 2020 BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED ANNOUNCES INTENTION TO WITHDRAW LISTING FROM THE NYSE PDF Press release Brilliance China Automobile Holdings July 5 2007 Retrieved November 22 2020 Deregistration under the United States Securities Exchange Act PDF Press release Brilliance China Automobile Holdings March 2 2009 Retrieved November 22 2020 Chan Christine October 18 1999 Brilliance shunned by SAR investors South China Morning Post Hong Kong Retrieved November 21 2020 2019 年年度报告 2019 Annual Report PDF Report in Chinese China Shenyang Jinbei Automotive April 30 2020 p 45 Retrieved November 21 2020 via Shanghai Stock Exchange website a b NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS PDF Interim Report 2011 Report Brilliance China Automotive Holdings August 2011 p 17 Retrieved November 21 2020 华晨金杯汽车有限公司背景资料 auto sina com cn in Chinese China April 14 2003 Retrieved November 22 2020 1995年年度报告摘要 Extract of 1995 Annual Report Report in Chinese China Shenyang Jinbei Automotive April 30 1996 Retrieved November 21 2020 via jrj com cn 2000年年度报告 PDF Report in Chinese China Shenyang Jinbei Automotive 2001 Retrieved November 21 2020 via Shanghai Stock Exchange website a b 2001年年度报告 PDF Report in Chinese China Shenyang Jinbei Automotive 2002 Retrieved November 21 2020 via Shanghai Stock Exchange website 2018 年年度报告 2018 Annual Report PDF Report in Chinese China Shenyang Jinbei Automotive March 30 2019 p 9 Retrieved November 21 2020 via Shanghai Stock Exchange website Batchelor very unlikely to continue BTCC effort November 2004 Kilby Michael September 21 2021 Batchelor s Shot at Brilliance Grand Prix Rejects Retrieved October 8 2022 BMW and China partner in 735 mln mainland expansion Reuters com Beijing November 12 2009 Retrieved November 21 2020 2011年1 11月前十家汽车生产企业销量排名 China Association of Automobile Manufacturers CAAM December 16 2011 Archived from the original on January 5 2012 Retrieved January 7 2012 a b 公司简介 Company Profile in Chinese China Brilliance Shineray Archived from the original on February 22 2020 Retrieved November 21 2020 王海宣 August 8 2020 斯威汽车的 神奇生存 边缘品牌如何求生 eeo com cn in Chinese China Retrieved November 21 2020 The Board of Directors August 28 2020 关于与华晨鑫源重庆汽车有限公司重新签订 注册商标使用许可合同 公告 PDF Press release Shenyang Jinbei Automotive Retrieved November 22 2020 via Shanghai Stock Exchange website 公开发行2020年公司债券 面向合格投资者 第一期 募集说明书摘要 PDF Press release in Chinese China Huachen Automotive Group Holdings January 10 2020 Retrieved November 22 2020 via Shanghai Stock Exchange website 王媛媛 August 29 2020 华晨集团陷入债务危机 顺带 坑 了主承销商天风证券 21jingji com in Chinese China Retrieved November 22 2020 天风证券股份有限公司涉及重大诉讼的公告 PDF in Chinese China TF Securities August 26 2020 Retrieved November 22 2020 via Shanghai Stock Exchange website Yu Jeanny Chan Ray February 28 2013 Xinchen China on funding quest to ramp up output South China Morning Post Hong Kong Retrieved November 21 2020 Renault Brilliance JinBei Automotive Co Ltd officially established Press release Renault Brilliance Jinbei October 25 2018 Archived from the original on November 28 2020 Retrieved November 21 2020 Hao Yan July 5 2017 Renault acquires 49 of Brilliance JinBei for 1 yuan China Daily Retrieved November 21 2020 Connected and Major Transaction Acquisition of 39 1 Equity Interest in Shenyang Brilliance JinBei Automobile Co Ltd PDF Press release Brilliance China Automotive Holding June 23 2017 Retrieved November 22 2020 Major Transaction Disposal of 49 Equity Interest in Shenyang Brilliance JinBei Automobile Co Ltd PDF Press release Brilliance China Automotive Holding July 4 2017 Retrieved November 22 2020 He Laura October 12 2018 Brilliance Auto shares plunge by almost a third as BMW plans to buy control of Chinese joint venture South China Morning Post Hong Kong Retrieved November 21 2020 15 years BMW Brilliance Automotive BMW Group strengthens commitment to China Press release BMW October 11 2018 Retrieved November 21 2020 Brilliance Auto s parent goes into bankruptcy procedure Gasgoo Retrieved September 15 2021 a b 贾璇 November 20 2020 华晨集团正式进入破产程序 宝马 雷诺 金杯均不纳入重整 投资人 投500万或只能收回30万 China Economic Weekly in Chinese China Retrieved November 22 2020 a b Brilliance China sees a very satisfying profit in 2010 Archived March 25 2013 at the Wayback Machine reuters com Fri May 28 2010 1 15 am EDT Brilliance Interim Report 2011 p 32 For Shenyang production base see BMW and China partner in 735 mln mainland expansion reuters com Thu Nov 12 2009 2 13 am EST For year completed see Plant Introduction Archived April 4 2010 at the Wayback Machine BMW Brilliance Official site For expansion plans see Brilliance China sees a very satisfying profit in 2010 Archived March 25 2013 at the Wayback Machine reuters com Fri May 28 2010 1 15 am EDT 2013 Passenger Vehicle Sales by Brand China Auto Web January 15 2014 Retrieved March 4 2014 Another Chinese Car Flunks German Crash Test Reuters July 22 2007 Kujawska Joanna March 18 2008 Changes introduced by producer in Brilliance BS6 Autochiny Archived from the original on September 4 2011 Brilliance BS6 Not as Lethal as Before ChinaCarTimes com September 13 2007 Archived from the original on March 23 2008 Hadys Michal November 7 2009 Europe is not for Brilliance the Importer is Bankrupt Autochiny Archived from the original on September 4 2011 Retrieved 2011 02 05 China Automaker Brilliance Halts Europe Exports Executives Say AutoWeek com Crain Communications April 29 2010 Persian Khodro May 19 2015 Brilliance to Start Production Iran Persian Khodro Retrieved May 20 2015 External links edit nbsp Wikimedia Commons has media related to Huachen Automotive Group Holdings nbsp Companies portal Official website nbsp Retrieved from https en wikipedia org w index php title Brilliance Auto Group amp oldid 1223351455, wikipedia, wiki, book, books, library,

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