In 2001, Shenhua Holdings agreed to acquire the shares of Shenyang Jinbei Automotive that held by Shenyang Automobile Industry AMC, : 248 allowing the Jinbei marque integrated into the Group. : 246 Shenyang Automobile Industry AMC agreed to acquire 29.91% stake from FAW Group in 2000. Shenyang Jinbei Automotive and Brilliance Auto Group were separate conglomerates, which the controlling stake of Shenyang Jinbei Automotive was acquired by FAW Group in 1995. Shenyang Jinbei Automotive was listed in the stock exchange since 1992. Nevertheless, Shenyang Jinbei Automotive did not have the controlling interest on Shenyang Jinbei Coach Manufacturing since 1992, which is the predecessor of Brilliance Jinbei (now Renault Brilliance Jinbei). It was planned to inject the stake into the major listed company of the group, Brilliance Auto, in 2003. As of 31 December 2019, the Brilliance Auto Group, via an intermediate company Shenyang Automobile Industry Asset Management Company Limited ( Chinese: 沈阳市汽车工业资产经营有限公司), owned 24.38% shares of that company as the largest and controlling shareholder. The Group has another listed associate company that is listing in the Shanghai Stock Exchange: Shenyang Jinbei Automotive Company Limited. As of 31 December 2019, Huachen Automotive Group (Brilliance Auto Group) owned 42.32% shares of the listed company as the largest and controlling shareholder. In 1999, the Group injected most part of the group assets to the subsidiary, and the shares started to float in the Stock Exchange of Hong Kong (now part of Hong Kong Exchanges and Clearing) as SEHK:1114. The company intended to delist from NYSE in 2007 and completed in 2009. : 244 The American depositary shares of Brilliance China Auto was floated in New York Stock Exchange from 1992 as NYSE:CBA. The ratio was later changed to 51% owned by Brilliance China Auto and 49% owned by Shenyang Jinbei Automotive. ( Chinese: 沈阳金杯客车制造有限公司), while the rest of the stake was owned by another company, Shenyang Jinbei Automotive Company Limited ( Chinese: 金杯汽车股份有限公司 SSE: 600609). Initially, the subsidiary owned 40% stake of Shenyang Jinbei Coach Manufacturing Co. In the same year, the company was registered as a foreign company in the Hong Kong Companies Registry. On 9, June 1992, a subsidiary, Brilliance China Automotive Holding Limited was incorporated in Bermuda. The origins of Brilliance Auto Group (officially Huachen Automotive Group Holdings Company Limited) can be traced to a Chinese government-owned automobile factory which under founding chairman Yang Rong, became one of the leading Chinese makers of minibuses between 19. Roughly 70% of production was consumer sedans. In 2012, the company manufactured almost 650,000 vehicles, the eighth-largest production of any Chinese vehicle maker that year. In 2010, Brilliance Auto Group and its subsidiaries had an annual production capacity of 800,000 vehicles although capacity has come online since. As of 2022 ( VW), BMW holds 100% share in Brilliance Motor and 75% of BMW-Brilliance, controlling the majority of production capacity under Brilliance. It also holds a 51% stake of Renault Brilliance Jinbei, a joint venture with Renault which designs, develops, manufactures and sells light commercial vehicles under the Jinbei, Huasong and Renault brands. Brilliance Auto also holds 25% of BMW Brilliance, a joint venture with BMW which produces, distributes and sells BMW passenger cars in mainland China. īrilliance China Automotive Holdings (Brilliance Auto) previously produced "Brilliance" branded cars under manufacturing unit Brilliance Motor which has since been sold to BMW. Its principal activity is the design, development, manufacture and sale of passenger cars sold under the Brilliance brand.īrilliance Auto Group holds a 42.32% shareholding in the Bermuda-incorporated Brilliance China Automotive Holdings Limited (commonly known as Brilliance Auto or Brilliance China), which is listed on the Frankfurt and Hong Kong stock exchanges. Its products include automobiles, microvans, and automotive components. Ltd., known for its brand name Brilliance Auto Group, was a Chinese multinational automobile manufacturer holding company headquartered in Shenyang. Source: īrilliance Auto dealership in Beijing, China "China morning" automotive group holdings limited companyįinancial figures are from consolidated financial statements profit and equity have excluded minority interest. Huáchén qìchē jítuán kònggǔ yǒuxiàn gōngsī
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |