AutoBeta(AutoBeta.net)12/04 Report--

According to the Liaoning Provincial discipline Inspection Commission, Qi Yumin, former party committee secretary and chairman of brilliance Automobile Group Holdings Co., Ltd., is suspected of serious violations of discipline and the law and is currently under disciplinary review and supervision investigation.

In April last year, Qi Yumin ended his 13-year mission at brilliance.

On April 1, 2019, 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 the 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 a loss into profit in 2007. When he left office last year, Qi Yumin had been in charge of brilliance for 13 years.

Recently, brilliance Automobile Group has embarked on the road of bankruptcy reorganization and attracted attention.

Brilliance Automobile Group is a large vehicle manufacturing enterprise controlled by Liaoning SASAC. Liaoning SASAC holds 80% of the shares, and the social security fund holds 20%. The main business income is vehicle manufacturing. For brilliance Group to enter the bankruptcy reorganization process, Liaoning Province SASAC responsible person said that brilliance Group long-term poor management, its own brand has been in a state of loss, debt ratio remains high. Since 2018, the Liaoning provincial government and relevant departments have been trying to help brilliance solve its cash flow problem, but its debt problem is not easy to solve over a long period of time.

Brilliance Automobile Group directly or indirectly controls and participates in four listed companies, and through its listed company brilliance China and BMW jointly established brilliance BMW. Brilliance Automobile Group has three independent brands of China, Golden Cup and Huasong and two joint venture brands of brilliance BMW and Huachen Renault.

Brilliance Automobile Group official said that this restructuring only involves the group's own brand section, does not involve the group's listed companies and joint ventures with BMW, Renault and other companies. As BMW's most important partner in China, the group is expected to be reborn after restructuring and try its best to recover creditors' losses. At the same time, brilliance BMW remains a stable source of profit in the future, and will continue to launch new products and expand its scale.

Brilliance Group relies too much on the profits of brilliance BMW and continues to lose money in its own business. Other businesses such as brilliance China's own brands lost 864 million yuan in 2019 and 340 million yuan in the first half of 2020.

Resume of Qi Yumin

Qi Yumin, male, Han nationality, was born in January 1959, went to work in August 1982, joined Communist Party of China in September 1985, university degree, senior engineer.

1978.09Murray 1982.08 study of Management Engineering in the Department of Engineering Economics, Shaanxi Institute of Machinery

1982.08While 1982.11 trainee in the second workshop of Dalian heavy Machinery Factory

1982.11Mel 1985.06 Dalian heavy Machinery Factory Planning Department trainee, planner

1985.06While 1986.03 Deputy Chief of Planning Section of Dalian heavy Machinery Factory

1986.03 Murray 1992.08 Deputy Director of Economic Planning Department of Dalian heavy Machinery Factory

1992.08Murray 1994.04 Director of Economic Planning Department of Dalian heavy Machinery Factory

1994.04 Murray 1995.11 Assistant to the General Manager and Director of Planning Department of Dazhong Group Co., Ltd.

1995.11Mutual 1998.06 Deputy General Manager of Dazhong Group Co., Ltd.

1998.06 Murray 1998.10 General Manager of Dazhong Group Co., Ltd.

1998.10 Murray 2000.06 General Manager and Director of Dalian heavy Industry Group Co., Ltd.

2000.06 Murray 2001.11 Chairman and General Manager of Dalian heavy Industry Group Co., Ltd.

2001.11Murray 2002.12 Chairman and General Manager of Dalian heavy Industry hoisting Group Co., Ltd.

2002.12 Mel 2004.09 Chairman, General Manager and standing Committee member of the Party Committee of Dalian heavy Industry lifting Group Co., Ltd.

On October 10, 2004, Murray was nominated as the vice mayor of Dalian Municipal people's Government.

2004.10 Murray 2005 12 Vice Mayor of the people's Government of Dalian, Liaoning Province

2005 12 Mel 2010.02 Chairman, President and Party Secretary of brilliance Automobile Group holding Co., Ltd.

2010.02 Murray 2015.12 brilliance Automobile Group holding Co., Ltd. Chairman, President and Deputy Secretary of the Party Group

Party Committee Secretary and Chairman of brilliance Automobile Group holding Co., Ltd.

2019.04 Mui-retire.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat