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According to a notice issued by the official website of the Supervisory Commission of the Liaoning Provincial discipline Inspection Commission on carrying out business environment supervision, Qi Yumin, former party committee secretary and chairman of brilliance Automobile Group Holdings Co., Ltd., destroyed the business environment in the field of state-owned enterprises and disclosed the typical case of seeking benefits for others and accepting property of more than 133 million yuan.

In August 2018, brilliance signed an agreement with a company outside the province to carry out a new energy vehicle project, and Qi Yumin gave support and care to the company and received 11 million yuan in money, the report said. From 1995 to 2019, taking advantage of his position, Qi Yumin successively sought benefits for 39 people and received a total of more than 133 million yuan in borrowing funds, contracting business, and obtaining the right to operate and sell. Qi Yumin also has other serious violations of discipline and law.

According to official data, Qi Yumin was born in January 1959, worked 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 that Qi Yumin would no longer serve as party committee secretary and chairman of brilliance Automobile Group holding Co., Ltd because of his age.

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 Automobile 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.

On July 24, 2021, the Supreme people's Procuratorate of the people's Republic of China announced that 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. under the jurisdiction designated by the Liaoning Provincial people's Procuratorate, the Chaoyang City people's Procuratorate initiated a public prosecution to the Chaoyang Intermediate people's Court in accordance with the law.

Data show that brilliance Automobile Group holding Co., Ltd. is a large vehicle manufacturing enterprise controlled by Liaoning SASAC, directly or indirectly holding and participating in four listed companies. and through its listed company brilliance China and BMW joint venture to establish brilliance BMW. At present, brilliance Group has three independent brands of China, Golden Cup and Huasong and two joint venture brands of brilliance BMW and Huachen Renault.

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.

Brilliance Automobile Group, which looks like a huge scale, is actually flashy. Brilliance Automobile Group's profit support basically comes from brilliance BMW. Judging from the operation situation in the past five years, brilliance Automobile Group realized net profit of 3.494 billion yuan, 3.682 billion yuan, 4.376 billion yuan, 5.876 billion yuan and 6.763 billion yuan respectively from 2015 to 2019. Excluding brilliance BMW, the net loss was 334 million yuan, 316 million yuan, 862 million yuan, 424 million yuan and 863 million yuan. In the first half of 2020, the net profit of brilliance Group increased by 25.24% over the same period last year to 4.045 billion yuan. But excluding brilliance BMW, the net loss was 340 million yuan.

It is worth mentioning that on February 11, 2022, BMW Group announced that its joint venture brilliance BMW in China had obtained a new license, and BMW Group's shareholding in brilliance BMW had increased from 50% to 75%. Brilliance Group continues to hold 25% stake in brilliance BMW. From February 11, the rights and interests of brilliance BMW will be included in the BMW Group's financial report, whereas brilliance BMW will be removed from the brilliance Group's financial report. For brilliance Group, which has been relying on brilliance BMW, it will directly affect the book data of the financial statements. As of press time, brilliance has not yet released its annual report for 2020 and 2021, and its shares have been suspended since March 30, 2021, with a total market capitalization of HK $36.83 billion (31.38 billion yuan).

At present, brilliance is still in a state of restructuring, and it is still unknown who will become brilliance's white guard, but as a large vehicle manufacturer and as a partner of BMW Group, brilliance will not "die". However, after losing control of brilliance BMW, it has been difficult to return to China's mainstream auto market.

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