AutoBeta(AutoBeta.net)06/19 Report--

According to official information released by the Liaoning Provincial people's Procuratorate, Qi Yumin, former party committee secretary and chairman of brilliance Automobile Group Holdings Co., Ltd., was suspected of accepting bribes, misappropriating public funds and abusing power by personnel of a state-owned company. Liaoning Provincial Supervisory Commission investigated and transferred to the procuratorial organs for examination and prosecution. The jurisdiction designated by the Liaoning Provincial people's Procuratorate shall be examined and prosecuted by the Chaoyang people's Procuratorate. A few days ago, the Chaoyang people's Procuratorate made a decision to arrest Qi Yumin on suspicion of accepting bribes, embezzlement of public funds, and abuse of power by personnel of state-owned companies.

According to official data, Qi Yumin was born in January 1959, went to work in August 1982 and joined Communist Party of China in September 1985. In December 2005, Qi Yumin, then vice mayor of Dalian people's Government of Liaoning Province, was appointed as chairman, president and party secretary of brilliance Automobile Group Co., Ltd.

On April 1, 2019, brilliance Automobile Group held a cadre meeting and announced Yan Bingzhe, former vice mayor of Shenyang City, Liaoning Province, as party committee secretary and chairman of brilliance Automobile Group holding Co., Ltd. at the same time, Qi Yumin will no longer serve as party committee secretary and chairman of brilliance Automobile Group holding Co., Ltd because of his age.

On November 20, 2020, the Shenyang Intermediate people's Court ruled to accept the creditor's application for the reorganization of brilliance Automobile Group Holdings Co., Ltd., which also means that the independent car company has officially entered the bankruptcy reorganization process. The ruling shows that brilliance Group has the situation that its assets are insufficient to pay off all its debts, and it has the bankruptcy reasons stipulated in the enterprise bankruptcy law, but at the same time, the group has the value and possibility of rescue, and the necessity and feasibility of reorganization. On December 4, 2020, the Supervisory Commission of Liaoning Provincial discipline Inspection Commission announced that Qi Yumin, former party committee secretary and chairman of brilliance Group, was suspected of serious violations of discipline and law and was currently under disciplinary review and supervision investigation.

On June 15, 2021, the Supervisory Committee of Liaoning Provincial discipline Inspection Commission reported that Qi Yumin, former party committee secretary and chairman of brilliance Automobile Group holding Co., Ltd., was expelled from the party.

After investigation, Qi Yumin involved a total of nine charges: loss of ideals and beliefs, disregard of party discipline and state law, confrontation with organizational censorship; violation of the spirit of the eight regulations of the Central Committee, acceptance of gifts that may affect the fair performance of official duties, illegal provision and use of official vehicles Make decisions on major issues in violation of the rules of procedure, conceal and fail to report personal matters, fail to truthfully explain the problems in organizing letters, use their powers and powers to seek benefits for others in the selection and appointment of cadres, borrow money from management and service objects, run enterprises in violation of regulations, take part-time pay in violation of regulations, engage in money and sex deals, dereliction of duty on the problem of false profits of brilliance Group, dereliction of duty on the part-time basis of spouses and children. Make use of the convenience of position to seek benefits for others and to solicit and illegally accept property; take advantage of the convenience of position to misappropriate public funds to others for profit-making activities; abuse of power causes serious losses to state-owned companies, resulting in heavy losses to national interests.

Qi Yumin seriously violated the party's political discipline, organizational discipline, incorruptible discipline, work discipline and life discipline, which constituted illegal duties and suspected crimes of bribery, misappropriation of public funds, and abuse of power by personnel of state-owned companies. and after the 18th or 19th CPC National Congress still did not rein in, do not stop, the nature is bad, the circumstances are serious, should be seriously dealt with. In accordance with the regulations on Communist Party of China Disciplinary Action, the Supervision Law of the people's Republic of China, and the Law of the people's Republic of China on Administrative punishment of Public officials, after being studied by the standing Committee of the Provincial discipline Inspection Commission and submitted to the Provincial Party Committee for approval, it was decided that Qi Yumin should be expelled from the Party; cancel his treatment in accordance with the regulations; and confiscate his illegal income from violation of discipline. The suspected crime shall be transferred to the procuratorial organ for examination and prosecution in accordance with the law, and the property involved shall be transferred together.

In Qi Yumin's last year in office, brilliance and BMW jointly announced that brilliance intends to sell a 25 per cent stake in brilliance to BMW by 2022 at a transaction price of 29 billion yuan. Brilliance BMW will become the first foreign-controlled joint venture. Brilliance's loss of control of the joint venture is largely the result of brilliance's own weakness and over-reliance on brilliance BMW's profits.

At present, brilliance Automobile Group's independent automobile business is basically shut down, and the joint venture brand brilliance Renault is reported to be disbanded. Next, how will brilliance complete the restructuring, and how will it return to normal operation?

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