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  BMW: the plan to buy 25% of brilliance BMW remains unchanged

  BMW responds to brilliance's debt problem: its plan to buy a 25% stake in brilliance remains unchanged

  Brilliance BMW brilliance car 2020-11-18
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  A number of models "stop production", BMW took a 25% stake in brilliance, what is left?

  For a long time, brilliance China's profits mainly rely on the joint venture brilliance BMW, and in January this year, brilliance shareholders' special meeting approved the sale of 25% stake in brilliance BMW to BMW. This also means that BMW will seize half of brilliance's profits in the future, and more importantly, brilliance can no longer rely on BMW. In recent years, the performance of brilliance's own brand is even more worrying. Brilliance sold only 89000 cars last year, down 30% from the same period last year, among which many models of Chinese brands have entered a state of "suspension of production". Brilliance went on sale in New York in 1992 with full firepower in the commercial vehicle market, with 1997.

  Cars BMWs 2019-02-13
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  Brilliance lost control of BMW, brilliance's profit in China fell by 40%

  On March 29, brilliance China Automotive Holdings Limited (hereinafter referred to as "brilliance China") released its annual financial report for the year ended December 31, 2022. According to the financial report, brilliance China's comprehensive income in 2022 was 1.131 billion yuan, down 47.2% from the same period last year, and the profit attributable to shareholders was 7.147 billion yuan.

  Brilliance Automobile BMW Group Company brilliance Group China Limited Co. Ltd. Enterprise Holdings claims Scheme Investment creditors 2023-03-31
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  The documents are made public! BMW China wholly acquires brilliance China Factory

  On October 20, the website of the Anti-monopoly Bureau of the State Administration of Market Supervision announced the case of BMW (China) Investment Co., Ltd. acquiring a stake in brilliance Automobile Manufacturing Co., Ltd. According to the documents, brilliance Automobile Group Holdings Limited ("brilliance Group") currently holds a 100% stake in brilliance Automobile Manufacturing Co., Ltd. ("brilliance Manufacturing"), thus controlling brilliance Manufacturing alone. BMW (China) Investment Co., Ltd. ("BMW China") has signed an equity sale and purchase agreement with brilliance Group to acquire the entire stake in brilliance Manufacturing. After the proposed deal, BMW China will control brilliance separately. Data show that BMW China was founded in 2019.

  Brilliance BMW brilliance China 2021-10-20
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  The purchase price is too low! BMW's purchase of brilliance China factory may be stopped

  According to a number of media reports, brilliance may reject the acquisition of BMW because the 1.633 billion yuan purchase price offered by BMW is too low. According to brilliance insiders, "the acquisition of the Chinese factory by BMW has been stopped, and the relevant BMW staff in the Chinese workshop have been withdrawn." According to the above-mentioned person, the relevant leaders of FAW are meeting with the executives of brilliance Group recently, and the group thinks that the price for BMW's 1.633 billion yuan purchase of the China Automobile plant is too cheap, so it does not agree. In response to the above news, BMW Chinese officials said: "the project continues to receive support from all parties, and we are currently in progress as planned."

  BMW brilliance China 2021-11-26
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  Will the Great Wall Automobile Factory put into production the BMW 3 Series? BMW Great Wall responded

  Brilliance Group was filed for bankruptcy reorganization by creditors, and the fate of the joint venture brilliance BMW has attracted much attention in the industry. On November 20, the Shenyang Intermediate people's Court ruled to accept the creditor's application for bankruptcy reorganization of brilliance Group, and brilliance Group officially declared bankruptcy reorganization. On the same day, the China Securities Regulatory Commission announced that it would file a case for investigation. Within one day, brilliance Group, which was mired in debt crisis, broke major news one after another. It may be expected that brilliance, which is mired in debt crisis, has been filed for bankruptcy reorganization by its creditors, but what has attracted more attention in the industry is not brilliance itself, but the subsequent development fate of brilliance BMW, a joint venture of brilliance.

  Great Wall Motor brilliance BMW 2020-11-23
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  Brilliance Automobile Group officially announced bankruptcy and restructuring today.

  On November 20, the first day of Guangzhou Auto Show will be another auto event. But in the same day, there is a car company has reached the point of life and death. There are a number of media domineering, brilliance Automobile Group, which is involved in bankruptcy restructuring due to debt problems, will officially declare bankruptcy today. But soon, the senior management of brilliance Group refuted the rumor.

  Brilliance 2020-11-20
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  New progress in the reorganization of brilliance Group!

  On May 31, brilliance China announced that the company had been informed by brilliance Manager that Shenyang Automobile Co., Ltd. had been selected by the brilliance Group restructuring Investor selection and Review Committee as a potential investor in brilliance restructuring, and that brilliance restructuring plan was still being worked out, pending approval from brilliance creditors' meeting and Shenyang Intermediate people's Court. Capital

  Brilliance Company BMW Group Automobile Limited Co. Ltd. brilliance Group Shenyang Enterprise holding people China Management people's Court 2023-06-01
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  Shenyang municipal government buys 30% stake in brilliance? Official response

  On April 24, brilliance China announced that the Shenyang Municipal Government had recently announced that the Shenyang Municipal Government might hold about 30.43% of the issued share capital of the company through its wholly-owned subsidiary Liaoning Xinrui Automobile Industry Development Co., Ltd., the controlling shareholder of brilliance Automobile Group Holdings Limited.

  Brilliance Company Automotive BMW China Limited Co. Ltd. Group holding BMW Group Equity Shenyang Enterprise Finance Manufacturing 2023-04-25
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  Brilliance's net profit in 2019 increased by 16.18% compared with the same period last year, relying entirely on BMW to survive.

  According to the 2019 results report released by brilliance China on March 27th, the net profit attributable to shareholders of the company in 2019 was 6.762 billion yuan, an increase of 16.18% over the same period last year. Among them, brilliance BMW's net profit in 2019 was 7.626 billion yuan, an increase of 22.1% over the same period last year. However, brilliance China's earnings and gross margin showed a downward trend. Of this total, revenue fell 11.77% year-on-year to 3.862 billion yuan, and gross profit fell 74.04% to 74 million yuan. Brilliance China also said that the decline in earnings was mainly due to sales of light passenger cars, MPV and auto parts during the year.

  Brilliance car brilliance BMW 2020-03-28
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  BMW announces completion of joint venture stock holding brilliance BMW 75%

  Germany's BMW officially announced that its joint venture brilliance BMW in China has obtained a new license, BMW's stake in brilliance has been officially increased from 50% to 75%, and partner brilliance continues to own 25% of brilliance BMW. BMW spent 3.7 billion euros to acquire a 25% stake, and BMW said it would complete the payment by Feb. 22, and from Feb. 11, BMW's interest in the company will be included in BMW's financial statements. the partnership agreement between the two sides will be extended to 2040.

  BMW announces completion of joint venture stock holding brilliance BMW 75% 2022-02-12
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  With a debt of 70 billion, brilliance China resumed trading on the first day and fell by 60%.

  A year and a half later, brilliance China finally resumed trading. However, under the influence of adverse factors such as the bankruptcy of the parent company, brilliance's share price fell more than 70% after the resumption of trading in China. As of the close of the day, brilliance China fell 63.01% to HK $2.70, with a total market capitalization of HK $13.622 billion. Actually

  Brilliance BMW Group China brilliance Group Company Renault claims BMW Group resumption of Trading Revenue Court growth Management profit 2022-10-05
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  Brilliance China is gone!

  According to Caijing Automobile, on August 31, the substantive merger and reorganization of 12 enterprises, including brilliance Group, held its second creditors' meeting, at which there were three motions, including property management and price change plans, two proposals for the establishment of a creditor committee, and the core proposal for BMW China to acquire brilliance China Brand. All three bills were passed by the vote of the creditors. According to reports, BMW China will acquire brilliance-related assets and brilliance manufacturing equity, including land use rights, buildings, machinery and equipment and other related assets, as well as brilliance Group's 100% stake in brilliance Automobile Manufacturing Co., Ltd.

  Brilliance car 2021-09-01
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  Brilliance China Board Chairman detained for investigation

  On August 8, brilliance China Automotive Holdings Limited (hereinafter referred to as "brilliance China") issued a notice that Hong Kong ICAC personnel visited the company's main business place in Hong Kong on August 3 to execute a search warrant. on the same day, Wu Xiaoan, executive director and chairman of the board of directors, was detained by the ICAC for investigation, suspected of violating the laws of Hong Kong.

  Brilliance Group Automobile Company Shenyang brilliance Group BMW Director China Enterprise Holdings Co. Ltd. Shenyang member 2023-08-08
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  Qi Yumin stepped down as chairman of brilliance Automobile Group, and Yan Bingzhe took over.

  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.

  2019-04-01
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  Brilliance China Financial report announced a net profit of 830 million yuan in the first half of the year

  A few days ago, brilliance China released its 2020 financial report, 2021 financial report and 2022 interim results report one after another. According to the financial report, brilliance China achieved operating income of 3.123 billion yuan in 2020, down 19.13% from the same period last year, and profit attributable to shareholders was 11 million yuan, down 99% from the same period last year.

  Brilliance Group BMW Company China Renault Enterprise Court brilliance Group Holdings Limited Co. Ltd. Automobile Shenyang Shenyang 2022-09-15
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  Official announcement: the former chairman of brilliance Group accepted 133 million yuan in bribes

  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. It is reported that

  Brilliance Group BMW Company Automobile brilliance Group people Holdings discipline Director Chairman Secretary Limited Co. Ltd. Liaoning 2022-05-07
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  Brilliance is mired in a debt crisis, and the official response has set up a debt committee to seek support.

  On August 12, a number of bonds owned by brilliance Automobile Group continued to plummet. 19 Huaqi 01 and 18 Huaqi 01 both fell more than 20%, 19 Huaqi 02 fell more than 14%, 17 Huaqi 01 fell more than 9%. For the continued decline in its bonds, brilliance said that it had set up a debt committee, which mainly took the lead in Everbright Bank, mainly coordinating relevant creditors not to draw loans, suppress loans, break loans, and continue to give financial and financial support to the company. According to the rating report released by Oriental Jincheng, at the end of March 2020, brilliance Holdings had total assets of 175.437 billion yuan and total liabilities of 122.675 billion yuan.

  Brilliance car 2020-08-13
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  Before brilliance is in the top 500, Qi Yumin is about to retire.

  Today, many media have learned that Qi Yumin, the current party committee secretary and chairman of brilliance Automobile Group, is about to retire, and Yan Bingzhe, vice mayor of Shenyang, will succeed Qi Yumin as chairman of brilliance. In December 2005, Qi Yumin, then vice mayor of the Dalian Municipal people's Government, was appointed to take over brilliance, which has been losing money for three consecutive years. Qi Yumin has been in charge of brilliance for 13 years so far. Qi Yumin, a former vice mayor of Dalian, was the chairman and general manager of Dalian heavy Industry hoisting Group Co., Ltd., with more than 20 years of enterprise management experience and government work experience, but he was a stranger to the automobile industry at that time. In.。

  Brilliance 2019-03-31
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  Trading of 1 billion yuan of bonds defaulted was suspended, brilliance Group responded

  After Lifan Motor and Zhongtai Automobile, brilliance Group has also received extensive attention because of its financial problems. Brilliance Automotive Group Holdings Limited (hereinafter referred to as "brilliance Group") responded to the default of 1 billion of its bonds on October 26, saying that "there are indeed temporary funding difficulties, so it is unable to repay maturing bonds on schedule." the group is actively working on solutions, and it is believed that brilliance will actively and properly solve the bond problem. " On October 23, brilliance Group failed to pay 1 billion yuan of private equity bonds "17 Huaqi 05" on schedule, resulting in a substantial default. According to the relevant rules, brilliance Group is currently deposited.

  Brilliance Group 2020-10-26