AutoBeta(AutoBeta.net)04/01 Report--

Confirmed that Yan Bingzhe, vice mayor of Shenyang, officially replaced Qi Yumin as chairman of brilliance. On April 1, brilliance held a cadre meeting, at which it was announced that Yan Bingzhe, former vice mayor of Shenyang City, Liaoning Province, had been appointed party committee secretary and chairman of brilliance Automobile Group holding Co., Ltd.; at the same time, Qi Yumin, because of his age, no longer served as party committee secretary and chairman of brilliance Automobile Group holding Co., Ltd.

In December 2005, Qi Yumin, then vice mayor of Dalian Municipal people's Government, was ordered to take over brilliance, which had been losing money for three years in a row, and finally turned brilliance into profit in 2007. So far, Qi Yumin has been in charge of brilliance for 13 years.

At present, brilliance Automobile Group owns brilliance China, Golden Cup brand, brilliance brand, brilliance BMW and brilliance Renault. Brilliance BMW has almost supported the whole group, constantly transfusion for brilliance, while brilliance's own brand is almost stagnant.

Before Qi Yumin stepped down, brilliance BMW joint venture stock ratio also confirmed adjustment, BMW will increase its stake in brilliance BMW to 75% in 2022. Brilliance sold a 25 per cent stake in BMW for 35 billion.

Qi Yumin revealed that after 80 days of negotiations, BMW finally accepted the terms put forward by brilliance; first, BMW wants to ensure that after brilliance changes from 50% to 25%, 25% of the economic benefits must be greater than 50% now; second, brilliance also signed an agreement with BMW, BMW must support brilliance's own brand in four aspects: research and development, manufacturing, quality and sales.

According to the data, Yan Bingzhe, the new chairman of brilliance, was the vice mayor of Shenyang people's Government of Liaoning Province.

After giving up the control of brilliance BMW, brilliance's own brand has received technical support from BMW, and perhaps brilliance's own brand has improved somewhat in terms of core technology.

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