{{Short description|Chinese state-owned automotive manufacturing company}} {{Infobox company | name = Huachen Automotive Group Holdings Co. Ltd. | trade_name = Brilliance Auto Group | logo = Brilliance Auto logo.png | logo_size = 170 | type = [[State-owned enterprise]] | predecessor = | founded = {{ubl|{{Start date and age|1992}} (Brilliance Auto)|2002 (current incorporation of Huachen Automotive Group)}} | founder = {{ubl|Chinese government|[[Yang Rong (businessman)|Yang Rong]]}} | hq_location_city = [[Shenyang, Liaoning]] Province | hq_location_country = China | area_served = Exported worldwide | key_people = {{aligned table| Yan Bingzhe|(Chairman and [[Party Committee Secretary]] of the Group;<ref name="Shenhua2019AR">{{cite report|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2020-04-30/600653_20200430_9.pdf|script-title=zh:2019 年年度报告 |trans-title=2019 Annual Report|date=April 30, 2020|access-date=November 21, 2020|publisher=Shenhua Holdings|language=zh-cn|via=Shanghai Stock Exchange website}}</ref> | |Zhang Yue (Chairman and CEO of Brilliance Auto Holdings)<ref>https://www.bloomberg.com/profile/person/23927850</ref>}} | industry = [[Automotive industry|Automotive]] | products = {{ubl|[[Automobile]]s|Automotive components}} | services = | revenue = {{increase}} [[Renminbi|CNY]]181130 million | revenue_year = 2019 | net_income = {{decrease}} CNY{{0|000}}279 million | net_income_year = 2019 | assets = {{nowrap|{{increase}} CNY195348 million}} | assets_year = 2019 | equity = {{nochange}} CNY{{0|00}}4992 million | equity_year = 2019 | owner = {{aligned table|Liaoning Provincial Government|(80%)|Liaoning Social Security Fund|(20%)}} | num_employees = {{decrease}} 5,610 (Brilliance Auto only)<ref>{{cite report|chapter-url=https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0427/2020042700525.pdf|title=2019 Annual Report|chapter=Management’s Discussion & Analysis|page=35|date=April 27, 2020|access-date=November 21, 2020|publisher=Brilliance China Automotive Holding|via=hkexnews.hk}}</ref> | num_employees_year = 2019 | parent = Liaoning Provincial Government's SASAC | brands = {{ubl|Brilliance|Huasong|[[Jinbei (marque)|Jinbei]]|Zhonghua}} | divisions = | subsidiaries = Brilliance Auto ({{HKEX|1114}}; 42.32%)<ref name="AR19"/> | website = {{URL|http://www.brilliance-auto.com}} | footnotes = financial figures are from [[consolidated financial statement]]s; profit and equity have excluded [[minority interest]]. Source:<ref name=AR2019Group>{{cite report|url=https://www.shclearing.com/xxpl/cwbg/nb/202005/t20200501_679559.html|script-title=zh:2019年度报告|trans-title=2019 Annual Report|date=2020|access-date=November 21, 2020|publisher=Huachen Automotive Group Holdings|via=Shanghai Clearing House|type=PDF|language=zh-cn}}{{Dead link|date=March 2024 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> | module = {{Infobox Chinese |child=yes |t=華晨汽車集團控股有限公司 |s=华晨汽车集团控股有限公司 |p=Huáchén qìchē jítuán kònggǔ yǒuxiàn gōngsī |l="China morning" automotive group holdings limited company |altname=Brilliance Auto Group |t2=華晨汽車集團 |s2=华晨汽车集团 |p2=Huáchén qìchē jítuán |altname3=Brilliance Auto |t3=華晨汽車 |s3=华晨汽车 |p3=Huáchén qìchē |j3= waa4 san4 hei3 ce1 |y3= wàh sàhn hei chē |order=st |showflag=p }} }} {{Use mdy dates|date=October 2012}} '''Huachen Automotive Group Holdings Co. Ltd.''', known by its brand name '''Brilliance Auto Group''', is a Chinese multinational [[automobile]] manufacturer holding company headquartered in [[Shenyang]].<ref name=reuters1/> Its products include automobiles, [[microvan]]s, and automotive components.<ref name=about/> Its principal activity is the design, development, manufacture, and sale of passenger cars sold under the Brilliance brand. It was established by founding chairman [[Yang Rong (businessman)|Yang Rong]].
Brilliance Auto Group holds a 42.32% shareholding in the [[Bermuda]]<nowiki>-incorporated</nowiki> '''Brilliance China Automotive Holdings Limited''' (commonly known as '''Brilliance Auto''' or '''Brilliance China'''), which is listed on the [[Frankfurt Stock Exchange|Frankfurt]] and [[Hong Kong Stock Exchange|Hong Kong]] stock exchanges.<ref>[https://archive.today/20130210223141/http://www.boerse-frankfurt.de/EN/index.aspx?pageID=35&ISIN=BMG1368B1028 BRILL. CHINA AUT. DL-,01 Equity, ISIN BMG1368B1028, WKN 884968, CBA] boerse-frankfurt.de</ref>
Brilliance China Automotive Holdings (Brilliance Auto) previously produced "Brilliance" branded cars under manufacturing unit Brilliance Motor, which has since been sold to BMW. Brilliance Auto also holds 25% of [[BMW Brilliance]], a joint venture with [[BMW]] which produces, distributes, and sells BMW passenger cars in mainland China. 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 (marque)|Jinbei]], [[Huasong]] and Renault brands. As of 2022, BMW held 100% of the shares in Brilliance Motor, and 75% of BMW-Brilliance, controlling the majority of production capacity under Brilliance.
In 2010, Brilliance Auto Group and its subsidiaries had an annual production capacity of 800,000 vehicles<ref name=gg>[http://autonews.gasgoo.com/china-news/brilliance-auto-plans-to-build-30-special-vehicle-101108.shtml Brilliance Auto plans to build 30 special-vehicle production bases] {{webarchive |url=https://web.archive.org/web/20101111023235/http://autonews.gasgoo.com/china-news/brilliance-auto-plans-to-build-30-special-vehicle-101108.shtml |date=November 11, 2010 }} gasgoo.com, November 8, 2010</ref> although capacity has come online since. In 2012, the company manufactured almost 650,000 vehicles, the eighth-largest production of any Chinese vehicle maker that year.<ref>{{cite web|title=2012年12月分车型前十家生产企业销量排名 |url=http://www.caam.org.cn/zhengche/20130114/0905085491.html |publisher=China Association of Automobile Manufacturers (CAAM) |date=14 January 2013 |access-date=January 15, 2013 |quote=Please note that in order to reach the 944K figure you must total the output of Brilliance (华晨) as well as Jinbei (金杯) |url-status=dead |archive-url=https://web.archive.org/web/20130115030711/http://caam.org.cn/zhengche/20130114/0905085491.html |archive-date=January 15, 2013 |df=mdy }}</ref> Roughly 70% of production was consumer [[Sedan (automobile)|sedans]].
==History==
=== Origins === The origins of '''Brilliance Auto Group''' (officially '''Huachen Automotive Group Holdings Company Limited''') can be traced to a Chinese-[[state owned enterprise|government-owned]] automobile factory, which under founding chairman [[Yang Rong (businessman)|Yang Rong]] became one of the leading Chinese makers of [[minibus]]es between 1991 and 2002.<ref name="reuters1">{{cite news|url=https://www.reuters.com/article/idUSTRE59F11620091016|title=Exiled China tycoon in U.S. clean vehicle plan|website=Reuters.com|date=October 16, 2009|access-date=November 21, 2020|first1= Alison|last1=Leung|first2=Fion|last2=Li|location=Hong Kong}}</ref><ref>{{cite web|url=https://www.forbes.com/global/2001/1112/032_8.html|title=China 100 Richest Businesspeople: No. 3 Yang Rong|website=forbes.com|date=November 12, 2001|access-date=August 25, 2017|archive-date=October 26, 2012|archive-url=https://web.archive.org/web/20121026042753/http://www.forbes.com/global/2001/1112/032_8.html|url-status=dead}}</ref>
=== 1990s === In the 1990s under Yang Rong, Brilliance rose to become China’s largest automaker.<ref name=rise>[https://www.nytimes.com/2012/05/07/world/asia/in-rise-and-fall-of-chinas-bo-xilai-a-ruthless-arc.html "In Rise and Fall of China’s Bo Xilai, an Arc of Ruthlessness,"] ''The New York Times''.</ref>
On 9 June 1992, a subsidiary, '''Brilliance China Automotive Holding Limited''' was incorporated in [[Bermuda]].<ref>{{cite web|url=https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=1114&sc_lang=en|title=Equities Quote|access-date=November 21, 2020|publisher=Hong Kong Exchanges and Clearing}}</ref><ref>{{cite report|chapter-url=https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0427/2020042700525.pdf|title=2019 Annual Report|chapter=Notes to the Consolidated Financial Statements|page=99|date=April 27, 2020|access-date=November 21, 2020|publisher=Brilliance China Automotive Holding|via=hkexnews.hk}}</ref> In the same year, the company was registered as a foreign company in the Hong Kong Companies Registry. Initially, the subsidiary owned 40% stake of Shenyang Jinbei Coach Manufacturing Co. Ltd. ({{zh|s=沈阳金杯客车制造有限公司}}),<ref name="book" /> while the rest of the stake was owned by another company, [[Shenyang Jinbei Automotive]] Company Limited ({{zh|s=金杯汽车股份有限公司}}; {{SSE|600609}}).<ref name="book" /><ref name="Jinbei1992" /> The ratio was later changed to 51% owned by Brilliance China Auto and 49% owned by Shenyang Jinbei Automotive.<ref name="book" />{{rp|244}} The [[American depositary shares]] of Brilliance China Auto were floated on the [[New York Stock Exchange]] beginning in 1992<ref name="book">{{cite book|script-title=zh:上市公司管理经典案例|author=姚铮|url=https://books.google.com/books?id=B0kx5rj_Z6QC|publisher=Tsinghua University Press|language=zh-cn|isbn=978-7-302-12396-5|date=2016|location=Beijing|script-chapter=zh:金杯华晨殊途同归}}</ref> as NYSE:CBA. The company intended to delist from NYSE in 2007<ref>{{cite news|url=http://www.chinadaily.com.cn/business/2007-07/10/content_5424713.htm|title=Brilliance Auto to delist from NYSE|date=July 10, 2007|access-date=November 21, 2020|newspaper=China Daily}}</ref><ref>{{cite press release|url=http://www.brillianceauto.com/investor/us_press_release/USPress_20070705_eng.pdf|title=BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED ANNOUNCES INTENTION TO WITHDRAW LISTING FROM THE NYSE|date=July 5, 2007|access-date=November 22, 2020|publisher=Brilliance China Automobile Holdings}}</ref> and completed in 2009.<ref>{{cite press release|url=http://www.brillianceauto.com/investor/us_press_release/USPress_20090302_eng.pdf|title= Deregistration under the United States Securities Exchange Act|date=March 2, 2009|access-date=November 22, 2020|publisher=Brilliance China Automobile Holdings}}</ref>
In 1999, the Group injected most of the group assets into the subsidiary, and the shares began to be traded on the [[Stock Exchange of Hong Kong]] (now part of [[Hong Kong Exchanges and Clearing]]) as SEHK:1114.<ref>{{cite news|url=https://www.scmp.com/article/297033/brilliance-shunned-sar-investors|title=Brilliance shunned by SAR investors|date=October 18, 1999|access-date=November 21, 2020|newspaper=South China Morning Post|location=Hong Kong|first=Christine|last=Chan}}</ref> {{as of|2019|12|31}}, Huachen Automotive Group (Brilliance Auto Group) owned 42.32% shares of the listed company as the largest and controlling shareholder.<ref name="AR19">{{cite report|chapter-url=https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0427/2020042700525.pdf|title=2019 Annual Report|chapter=Report of Directors|page=22|date=April 27, 2020|access-date=November 21, 2020|publisher=Brilliance China Automotive Holding|via=hkexnews.hk}}</ref>
The Group has another listed associate company that is listing in the [[Shanghai Stock Exchange]]: Shenyang Jinbei Automotive Company Limited. {{as of|2019|12|31}}, the Brilliance Auto Group, via an intermediate company Shenyang Automobile Industry Asset Management Company Limited ({{zh|s=沈阳市汽车工业资产经营有限公司}}), owned 24.38% of the shares of that company as the largest and controlling shareholder.<ref>{{cite report|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2020-04-30/600609_20200430_2.pdf|script-title=zh:2019 年年度报告|trans-title=2019 Annual Report|date=April 30, 2020|access-date=November 21, 2020|page=45|publisher=Shenyang Jinbei Automotive|language=zh-cn|via=Shanghai Stock Exchange website}}</ref> It planned to inject the stake into the major listed company of the group, Brilliance Auto, in 2003.<ref name="2011IR">{{cite report|chapter-url=http://www.brillianceauto.com/investor/interim_reports/HK/IR_2011/e_IR_20110824_eng.pdf|title=Interim Report 2011|date=August 2011|access-date=November 21, 2020|page=17|chapter=NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS|publisher=Brilliance China Automotive Holdings}}</ref> However, the deal collapsed. Nevertheless, Shenyang Jinbei Automotive has not had the controlling interest of Shenyang Jinbei Coach Manufacturing since 1992, which is the predecessor of [[Brilliance Jinbei]]<ref>{{cite web|url=http://auto.sina.com.cn/news/2003-04-14/35573.shtml|script-title=zh:华晨金杯汽车有限公司背景资料|website=auto.sina.com.cn|date=April 14, 2003|access-date=November 22, 2020|language=zh-cn}}</ref> (now [[Renault Brilliance Jinbei]]).
Shenyang Jinbei Automotive has been listed on the stock exchange since 1992.<ref name="Jinbei1992">{{cite web|url=http://stock.jrj.com.cn/share,disc,1992-06-05,600609,00000000000000nt3n.shtml|script-title=zh:金杯汽车股份有限公司股票上市报告书|date=June 5, 1992|access-date=November 21, 2020|publisher=Shenyang Jinbei Automotive|language=zh-cn|via=jrj.com.cn}}</ref> Shenyang Jinbei Automotive and Brilliance Auto Group were separate conglomerates, and a controlling stake in Shenyang Jinbei Automotive was acquired by [[FAW Group]] in 1995.<ref name=book/>{{rp|246}}<ref>{{cite report|url=http://stock.jrj.com.cn/share,disc,1996-04-30,600609,00000000000000nuef.shtml|script-title=zh:1995年年度报告摘要|trans-title=Extract of 1995 Annual Report|date=April 30, 1996|access-date=November 21, 2020|publisher=Shenyang Jinbei Automotive|language=zh-cn|via=jrj.com.cn}}</ref> Shenyang Automobile Industry AMC agreed to acquire a 29.91% stake from FAW Group in 2000.<ref>{{cite report|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/600609_2000_0.pdf|script-title=zh:2000年年度报告|date=2001|access-date=November 21, 2020|publisher=Shenyang Jinbei Automotive|language=zh-cn|via=Shanghai Stock Exchange website}}</ref><ref name="Jinbei2001AR">{{cite report|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/600609_2001_n.pdf|script-title=zh:2001年年度报告|date=2002|access-date=November 21, 2020|publisher=Shenyang Jinbei Automotive|language=zh-cn|via=Shanghai Stock Exchange website}}</ref>
=== 2000s ===
[[File:Brilliance bc3.JPG|thumb|Brilliance steering wheel in the [[Brilliance BC3]]]] In 2001, Shenhua Holdings agreed to acquire the shares of Shenyang Jinbei Automotive that were held by [[Shenyang Automobile Industry AMC]],<ref name="book" />{{rp|248}}<ref name="Jinbei2001AR" /> allowing the [[Jinbei (marque)|Jinbei]] marque integrated into the Group. {{Clarify|reason=garbled sentence|date=March 2025|text=However, the deal revised into Brilliance Auto agreed to acquire the stake from Shenyang Automobile Industry AMC in 2003.}}<ref name="2011IR" /><ref name="book" />{{rp|250–251}} {{Clarify|reason=garbled phrase|date=March 2025|text=Despite the final deal became Brilliance Auto Group acquired Shenyang Automobile Industry AMC directly in April 2018 from the Shenyang Municipal People's Government}}, which in turn has the full control of the stake of Shenyang Jinbei Automotive that was held by the [[Asset Management Company|AMC]].<ref>{{cite report|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2019-03-30/600609_2018_n.pdf|script-title=zh:2018 年年度报告|trans-title=2018 Annual Report|date=March 30, 2019|access-date=November 21, 2020|publisher=Shenyang Jinbei Automotive|language=zh-cn|page=9|via=Shanghai Stock Exchange website}}</ref>
In 2001, ''[[Forbes]]'' reported that Chairman Yang Rong was China's third-richest businessman.<ref name="forbes">{{Cite news|title=China's 100 Richest Business People |url=https://www.forbes.com/global/2001/1112/032_8.html |archive-url=https://web.archive.org/web/20011227232236/http://www.forbes.com/global/2001/1112/032_8.html |url-status=dead |archive-date=December 27, 2001 |work=[[Forbes]] |date=12 November 2001 |access-date=2009-04-25 }}</ref> Yang made a failed bid to locate a Brilliance factory in [[Ningbo]], China.<ref name="ft">''Politics fuels battle for Renault plant,'' by Alexandra Harney and [[Richard McGregor]], ''The Financial Times''. London (UK): November 30, 2004. pg. 28</ref> Ningbo is near the rich coastal city of [[Shanghai]]. In his attempt, Yang incurred the wrath of the governor of the province of [[Liaoning]], [[Bo Xilai]] (Bo was later convicted on [[bribery]], corruption, abuse of power, and [[embezzlement]], and sentenced to life imprisonment), as Bo demanded that Yang locate the factory in [[Liaoning]] and Yang refused.<ref name="ft"/><ref name=read>[https://carnewschina.com/2021/08/29/automaker-profile-brilliance-jinbei-part-1/ "The Big Read: History of Brilliance Jinbei,"] ''Car News China''.</ref> In 2002, Bo seized Yang's stake of $700 million in Brilliance.<ref name=rise>[https://www.nytimes.com/2012/05/07/world/asia/in-rise-and-fall-of-chinas-bo-xilai-a-ruthless-arc.html "In Rise and Fall of China’s Bo Xilai, an Arc of Ruthlessness,"] ''The New York Times''.</ref> Bo also accused Yang of embezzlement, and had an arrest warrant issued against him, precipitating Yang's flight from China in July 2002; since then Yang has been living in exile in the [[United States]].<ref name=warrant>{{Cite web|url=http://www.chinaautoreview.com/pub/CARArticle.aspx?ID=4303 |title=Yang Rong's Hybrid Kinetic Motors signs contract with Giugiaro |work=China Auto Review|date=2010-01-21 |access-date=2010-09-12}}</ref><ref name=read/>
In 2003, [[BMW]] and Brilliance Auto signed a deal for the production of BMW-branded sedans in China.<ref name="about" />
In 2005, Brilliance planned an entry into the newly formed [[World Touring Car Championship|FIA World Touring Car Championship]]. However, the Brilliance WTCC program did not make the grid.<ref>{{cite web | url=https://www.crash.net/btcc/news/8355/1/batchelor-very-unlikely-to-continue-btcc-effort | title=Batchelor 'very unlikely' to continue BTCC effort | date=November 2004 }}</ref><ref>{{cite web |url= https://gprejects.com/centrale/batchelors-shot-at-brilliance|title= Batchelor's Shot at Brilliance|last= Kilby|first= Michael|date= 2021-09-21|website= Grand Prix Rejects|publisher= |access-date= 2022-10-08|quote=}}</ref>
From 2009 to 2011, the group was the eighth-largest automaker in China.<ref>{{cite news|date=November 12, 2009|title=BMW and China partner in $735 mln mainland expansion|website=Reuters.com|location=Beijing|url=https://www.reuters.com/article/idUSBJB00356820091112|access-date=November 21, 2020}}</ref><ref>{{cite web|date=December 16, 2011|title=2011年1-11月前十家汽车生产企业销量排名|url=http://www.caam.org.cn/zhengche/20111216/0905065763.html|url-status=dead|archive-url=https://web.archive.org/web/20120105191447/http://caam.org.cn/zhengche/20111216/0905065763.html|archive-date=January 5, 2012|access-date=January 7, 2012|publisher=China Association of Automobile Manufacturers (CAAM)|df=mdy-all}}</ref>
===2010s to present===
[[File:方向华晨 - panoramio.jpg|thumb|Brilliance Auto dealership in Beijing, China]] In 2012, Brilliance Auto Group formed a joint venture '''Brilliance Shineray''' ({{zh|s=华晨鑫源}}) in [[Chongqing]] with [[Shineray Group]]<ref name="aboutBrillianceShineray">{{cite web|script-title=zh:公司简介|trans-title=Company Profile|url=http://www.jinbeicq.com/about_us.php|access-date=November 21, 2020|publisher=Brilliance Shineray|language=zh-cn|archive-date=February 22, 2020|archive-url=https://web.archive.org/web/20200222032611/http://www.jinbeicq.com/about_us.php|url-status=dead}}</ref> to produce [[SWM (automobiles)|SWM]]<ref>{{cite news|url=http://www.eeo.com.cn/2020/0808/397148.shtml|script-title=zh:斯威汽车的“神奇生存”：边缘品牌如何求生|date=August 8, 2020|access-date=November 21, 2020|website=eeo.com.cn|language=zh-cn|author=王海宣}}</ref> and [[Jinbei (marque)|Jinbei]]<ref name="aboutBrillianceShineray" /> brand automobiles. As of 2019, Shineray Group owned 80% stake of that joint venture. The rest is owned by {{zh|s=沈阳华益新汽车销售有限公司|labels=no}}.<ref>{{cite press release|url=http://static.sse.com.cn//disclosure/listedinfo/announcement/c/2020-08-28/600609_20200828_7.pdf|script-title=zh:关于与华晨鑫源重庆汽车有限公司重新签订《注册商标使用许可合同》公告 |publisher=Shenyang Jinbei Automotive|date=August 28, 2020|access-date=November 22, 2020|author=The Board of Directors |via=Shanghai Stock Exchange website}}</ref> The latter is not part of the Brilliance Auto Group,<ref>{{cite press release|url=http://www.sse.com.cn/disclosure/bond/announcement/company/c/3759602420479373106741193.pdf|script-title=zh:公开发行2020年公司债券（面向合格投资者）（第一期）募集说明书摘要|date=January 10, 2020|access-date=November 22, 2020|publisher=Huachen Automotive Group Holdings|language=zh-cn|via=Shanghai Stock Exchange website}}</ref><ref>{{cite news|url=https://m.21jingji.com/article/20200829/herald/6916e5a5a2c84e75178cc7c734e7b9ea.html|script-title=zh:华晨集团陷入债务危机，顺带“坑”了主承销商天风证券？|date=August 29, 2020|access-date=November 22, 2020|website=21jingji.com|language=zh-cn|author=王媛媛}}</ref> but the Group provides a guarantee for some debt of that company.<ref name="TF">{{cite web|url=http://www.sse.com.cn/disclosure/bond/announcement/company/c/2020-08-26/3958592103274679587319716.pdf|script-title=zh:天风证券股份有限公司涉及重大诉讼的公告|publisher=TF Securities |date=August 26, 2020|access-date=November 22, 2020|language=zh-cn|via=Shanghai Stock Exchange website}}</ref>
In 2013, Brilliance Auto formed a spin-off, [[Xinchen China Power]] Holdings Limited.<ref>{{cite news|url=https://www.scmp.com/business/banking-finance/article/1160731/xinchen-china-funding-quest-ramp-output|title=Xinchen China on funding quest to ramp up output|date=February 28, 2013|access-date=November 21, 2020|newspaper=South China Morning Post|location=Hong Kong|first1=Jeanny|last1=Yu|first2=Ray|last2=Chan|url-access=limited}}</ref>
In 2017, Brilliance Auto also formed another joint venture [[Renault Brilliance Jinbei]] with [[Renault]].<ref>{{cite press release|url=https://www.renault-brilliance.com/en/news_detail/2|title=Renault Brilliance JinBei Automotive Co., Ltd. officially established|date=October 25, 2018|access-date=November 21, 2020|publisher=Renault Brilliance Jinbei|archive-date=November 28, 2020|archive-url=https://web.archive.org/web/20201128212805/https://www.renault-brilliance.com/en/news_detail/2|url-status=dead}}</ref><ref>{{cite news|url=https://www.chinadaily.com.cn/business/motoring/2017-07/05/content_30005342.htm|title=Renault acquires 49% of Brilliance JinBei for 1 yuan|date=July 5, 2017|access-date=November 21, 2020|newspaper=China Daily|author=Hao Yan}}</ref> Brilliance Auto acquired the remaining 39.1% stake of Brilliance Jinbei from sister company Shenyang Jinbei Automotive,<ref>{{cite press release|url=http://www.brillianceauto.com/investor/announcements/2017_announcements/e_Ann_20170623_eng.pdf|title=Connected and Major Transaction: Acquisition of 39.1% Equity Interest in Shenyang Brilliance JinBei Automobile Co., Ltd.|date=June 23, 2017|access-date=November 22, 2020|publisher=Brilliance China Automotive Holding}}</ref> and then Brilliance Auto re-sold a 49% stake to Renault.<ref>{{cite press release|url=http://www.brillianceauto.com/investor/announcements/2017_announcements/e_Ann_20170704_eng.pdf|title=Major Transaction: Disposal of 49% Equity Interest in Shenyang Brilliance JinBei Automobile Co., Ltd.|date=July 4, 2017|access-date=November 22, 2020|publisher=Brilliance China Automotive Holding}}</ref>
In October 2018, [[BMW Brilliance]], a 50:50 joint venture between BMW and Brilliance, was taken over by BMW by the latter acquiring an additional 25% of the available shares.<ref>{{cite news|last=He|first=Laura|date=October 12, 2018|title=Brilliance Auto shares plunge by almost a third as BMW plans to buy control of Chinese joint venture|newspaper=South China Morning Post|location=Hong Kong|url=https://www.scmp.com/business/companies/article/2168249/brilliance-auto-shares-plunge-almost-third-bmw-plans-buy-control|access-date=November 21, 2020}}</ref><ref>{{cite press release|url=https://www.press.bmwgroup.com/global/article/detail/T0285823EN/15-years-bmw-brilliance-automotive:-bmw-group-strengthens-commitment-to-china?language=en|title=15 years BMW Brilliance Automotive: BMW Group strengthens commitment to China|date=October 11, 2018|access-date=November 21, 2020|publisher=BMW}}</ref>
In recent years, Brilliance Group has suffered from long-term poor management, and its own brands have been in a state of loss. The majority of profits come from BMW Brilliance and the [[debt ratio]] remains high. In 2019, Brilliance Auto's net profit was RMB 7.626 billion. If the profits of BMW Brilliance were subtracted, the figure would be a loss of RMB 1.334 billion. In the first half of 2020, Brilliance Auto's net profit was RMB 4.045 billion, of which BMW Brilliance contributed RMB 4.338 billion. Two credit rating agencies in mainland China, [[Dagong International]] and [[Oriental Jincheng]], began to put Brilliance bonds on their watch list in late August 2020. By late September, Brilliance's credit rating began to be downgraded. By late October, Brilliance's credit rating had been reduced from AAA to A+.<ref>{{cite news |author1=泰勒 |title=宝马也带不动！千亿东北国企华晨集团正式破产重整 |url=https://company.stcn.com/gsxw/202011/t20201120_2551744.html |accessdate=2020-11-20 |work=中国基金报 |date=2020-11-20 |archive-date=2020-12-22 |archive-url=https://web.archive.org/web/20201222104515/https://company.stcn.com/gsxw/202011/t20201120_2551744.html |url-status=live }}</ref><ref>{{cite news |title=驚！BMW中國合資夥伴華晨汽車 被申請破產重整 |url=https://ec.ltn.com.tw/article/breakingnews/3351152 |accessdate=2020-11-20 |work=自由時報電子報 |date=2020-11-13 |archive-date=2020-12-22 |archive-url=https://web.archive.org/web/20201222104546/https://ec.ltn.com.tw/article/breakingnews/3351152 |url-status=live }}</ref>
In November 2020, Brilliance Auto's parent went into bankruptcy administration<ref>{{Cite web|title=Brilliance Auto's parent goes into bankruptcy procedure|url=https://autonews.gasgoo.com/Detail2020.aspx?ClassId=2&ArticleId=70017754|access-date=2021-09-15|website=Gasgoo}}</ref> and announced the default of corporate bonds worth more than [[CNY]]6.5 [[billion (short scale)|billion]].<ref name=admin>{{cite news|url=http://www.ceweekly.cn/2020/1120/321291.shtml|script-title=zh:华晨集团正式进入破产程序：宝马、雷诺、金杯均不纳入重整 {{!}}投资人：投500万或只能收回30万|date=November 20, 2020|access-date=November 22, 2020|website=China Economic Weekly|language=zh-cn|author=贾璇}}</ref> The bankruptcy administration does not affect the subsidiaries Brilliance Auto, [[Xinchen China Power]], [[Shenhua Holdings]], [[Shenyang Jinbei Automotive]], or any of the joint ventures operated by the organization.<ref name=admin/>
On January 12, 2021, the [[Shanghai Stock Exchange]] issued a disciplinary decision to publicly condemn Brilliance Automotive Group Holding Co., Ltd., its chairman, and the official in charge of information disclosure affairs.<ref>{{cite news|title=四方面违规 上交所对华晨集团及有关责任人予以公开谴责|url=https://www.yicai.com/news/100910955.html|accessdate=2021-01-12|work=第一财经|date=2021-01-12|language=zh-cn|archive-date=2021-01-19|archive-url=https://web.archive.org/web/20210119141430/https://www.yicai.com/news/100910955.html|url-status=live}}</ref>
On December 30, 2021, Brilliance Renault Jinbei Automobile Co., Ltd. filed a new bankruptcy review case, and the handling court was the Shenyang [[Intermediate People's Court]] of Liaoning Province.<ref>{{cite news |date=2021-12-30 |title=华晨雷诺金杯申请破产，企查查显示其被执行金额超900万 |trans-title=Brilliance Renault Jinbei filed for bankruptcy, and Qichacha showed that the amount of money it was executed exceeded 9 million |url=https://www.yicai.com/news/101275058.html |archive-url=https://web.archive.org/web/20220104171707/https://www.yicai.com/news/101275058.html |archive-date=2022-01-04 |accessdate=2022-01-04 |work=第一财经}}</ref>
In June 2023, Brilliance Group stated that it had identified Shenyang Automobile Co., Ltd. as a potential investor in the reorganization. Shenyang Automobile is a wholly owned subsidiary of Shenyang Cairui Investment Co., Ltd. Caisheng Investment, a subsidiary of Shenyang Cairui [[Shengjing Financial Holdings]], and Shenyang Metro Operation, a subsidiary of [[Shenyang Metro]], each hold 50% of the shares. The actual controller is Shenyang State-owned Assets Supervision and Administration Commission. After the relevant procedures for reorganization are passed, the actual controller of Brilliance Auto will be changed from the Liaoning Provincial State-owned Assets Supervision and Administration Commission to the Shenyang Municipal State-owned Assets Supervision and Administration Commission.<ref>{{cite news |date=2023-06-19 |title=华晨重整协议"敲定"！投资交易对价不超过164亿元，沈阳汽车拟获三家上市公司控制权 |trans-title=Brilliance's restructuring agreement "finalized"! The investment transaction consideration does not exceed 16.4 billion yuan, and Shenyang Automobile plans to obtain control of three listed companies. |url=https://www.nbd.com.cn/articles/2023-06-19/2878352.html |archive-url=https://web.archive.org/web/20230622043115/https://www.nbd.com.cn/articles/2023-06-19/2878352.html |archive-date=2023-06-22 |accessdate=2023-06-21 |work=每日经济新闻}}</ref>
On September 15, 2023, FAW Car Vice President Liu Xuemin and former Vice President Liu Tongfu were suspected of serious violations of discipline and law, and were both subject to disciplinary review and supervision investigation by the Liaoning Provincial Commission for Discipline Inspection and Supervision.<ref>{{cite news |date=2023-09-15 |title=华晨汽车集团副总裁刘学敏等2人接受审查调查 |trans-title=Brilliance Automotive Group Vice President Liu Xuemin and two others are under investigation |url=https://www.yicai.com/news/101859652.html |accessdate=2023-09-17 |work=第一财经}}</ref>
== Corporate leadership == === Chairmens === * [[Yang Rong (businessman)|Yang Rong]] (1992–2002) * Wu Xiao-an (2002–2023)<ref>https://www.yicaiglobal.com/news/brilliance-chinas-chairman-gets-picked-up-by-hong-kong-anti-graft-authority#:~:text=Wu%20has%20been%20in%20the,for%20bankruptcy%20in%20December%202021.</ref> * Zhang Yue (2024–present)<ref>https://www.itiger.com/news/2480028663#:~:text=THOMSON%20REUTERS,Zhang%20Yue%20Appointed%20as%20Chairman</ref>
=== CEOs === * Qi Yumin (2006–2019) * Yan Bingzhe (2019–2024) * Zhang Yue (2024–present)<ref>https://www.marketscreener.com/quote/stock/BRILLIANCE-CHINA-AUTOMOTI-1412585/news/Brilliance-China-Automotive-Holdings-Limited-Appoints-Zhang-Yue-as-Chief-Executive-Officer-46425426/#:~:text=The%20board%20of%20directors%20of,Mr.</ref>
==Products==
[[File:Brilliance Auto logo.svg|thumb|205x205px|Brilliance Auto logo until 2002]]
Brilliance Auto Group and its subsidiaries sell passenger cars under the Brilliance marque.
===Brilliance products (produced under Brilliance Motor)===
====Earlier discontinued models====
{{div col|colwidth=14em}} *[[Brilliance BS2]] **[[Brilliance FRV]] **[[Brilliance FRV Cross]] **[[Brilliance FRV|Brilliance FSV]] *[[Brilliance BS4]] *[[Brilliance BS6]] *[[Brilliance BC3]] *[[Brilliance H230|Brilliance H220 / H230]] *[[Brilliance H330|Brilliance H320 / H330]] *[[Brilliance H530]] *[[Brilliance H3]] *[[Brilliance M1]] (Zunchi) *[[Brilliance M2]] (Junjie) *[[Brilliance M3]] (Kubao) *[[Brilliance Tun]] (Dolphin) *[[Brilliance V3]] *[[Brilliance V5]] *[[Brilliance V6]] *[[Brilliance V7]] *[[Brilliance B8]]
{{div col end}}
<gallery> File:Brilliance BS2.jpg|Brilliance BS2 File:Brilliance Junjie FRV facelift 01 China 2012-04-22.jpg|Brilliance FRV File:Brilliance Auto Cross 2010 China.jpg|Brilliance FRV Cross File:Brilliance Junjie FSV China 2012-04-22.jpg|Brilliance FSV File:Brilliance Auto Coupe 2010 China (front).jpg|Brilliance BC3 File:Brilliance Junjie China 2012-05-05.jpg|Brilliance BS4 File:Brilliance BS6 2.0 Deluxe.JPG|Brilliance BS6 File:Brilliance H220 1.5 2014 (14323118822).jpg|Brilliance H220 File:Brilliance H230 01 China 2013-03-04.JPG|Brilliance H230 File:Brilliance H320 China 2016-04-08.jpg|Brilliance H320 File:Brilliance H330 01 China 2014-05-01.jpg|Brilliance H330 File:Brilliance H530 facelift 01 China 2016-04-09.jpg|Brilliance H530 File:Brilliance H3 001.jpg|Brilliance H3 File:Brilliance Zunchi facelift China 2016-03-28.jpg|Brilliance M1 File:Brilliance M2.JPG|Brilliance M2 File:Brilliance Tun 01 China 2016-04-06.jpg|Brilliance Tun File:Brilliance V3 facelift China 2018-03-28.jpg|Brilliance V3 File:Brilliance V5 facelift 2 China 2016-04-13.jpg|Brilliance V5 File:Brilliance V6 01.jpg|Brilliance V6 File:Brilliance V7 01 China 2019-03-28.jpg|Brilliance V7 </gallery>
=== Huasong === {{Main|Huasong}} '''Huasong''' is an automobile brand specializing in [[Pickup truck|van]]s created in 2014 to 2020 by Brilliance Auto.<ref>{{cite web|access-date=2018-08-01 |publisher=Brilliance Auto |title=Brands and products. Minibuses and MPVs |url=http://www.brillianceauto.com/brands/jinbei.html}}<!-- auto-translated from French by Module:CS1 translator --></ref>
* [[Huasong 7]] <gallery> File:Huasong 7 facelift 002.jpg|Brilliance Huasong 7 </gallery>
=== Xinri ===
Brilliance Xinri New Energy Automotive Co., Ltd was founded in October 2018, and the first stage plant was completed and put into operation in December 2020.<ref>{{Cite web |title=Brilliance Xinri New Energy Automotive Co., Ltd-Powerful Electric Vehicle |url=http://www.huachenxinri.com/?lang=en# |access-date=2024-12-01 |website=www.huachenxinri.com |language=zh-CN}}</ref>
* [[Brilliance Xinri i03]] <gallery> File:Brilliance Xinri i03 image01.jpg|Brilliance Xinri i03 </gallery>
==Joint ventures and alliances==
===BMW Brilliance=== {{Main|BMW Brilliance}}
[[File:BMW 5-Series F18 Li 2 China 2012-05-12.jpg|thumb|A BMW 5-Series LWB produced by BMW Brilliance]] In 2003, BMW and Brilliance agreed to make select products of this German luxury carmaker in China.<ref name="about">{{cite web|url=http://www.brillianceauto.com/company/overview.html|title=General Overview|access-date=November 21, 2020|publisher=Brilliance China Automotive Holdings}}</ref> As of 2010, the joint venture made the [[BMW 3 Series]] and [[BMW 5 Series]] and had plans to introduce the [[BMW X1]] by 2012.<ref name=models/> As of 2011, locally produced engines were slated to appear in some offerings soon, and the company had plans to bring up total production capacity to 300,000 by 2013.<ref>[[#Interim|Brilliance Interim Report 2011]], p. 32</ref>
These vehicles may differ slightly from those sold in other markets under the same names. As of mid-2010 almost 60% of the components used to manufacture the China-built BMWs were imported to China.<ref name=models>[https://www.reuters.com/article/idUKTOE64R01K20100528 Brilliance China sees a "very satisfying" profit in 2010] {{Webarchive|url=https://web.archive.org/web/20130325214102/http://www.reuters.com/article/2010/05/28/idUKTOE64R01K20100528 |date=March 25, 2013 }} reuters.com, Fri May 28, 2010 1:15 am EDT</ref><gallery> File:BMW 1-Series F52 01 China 2017-04-05.jpg|BMW Brilliance 1-Series F52 File:BMW 5-Series G38 Li 02 China 2018-03-20.jpg|BMW Brilliance 5-Series G38 Li File:BMW X1 F49 Li 01 China 2017-03-24.jpg|BMW Brilliance X1-Series F49 Li </gallery>
===Brilliance Shineray=== {{main|SWM (automobiles)}} Brilliance Shineray is a joint venture between Brilliance Auto Group and Shineray Motorcycle Company ([[Shineray Group]]), one of China's largest{{citation needed|date=November 2020}} motorcycle producers. Shineray Group bought the Italian motorcycle brand, [[SWM (motorcycles)]], and started an automotive brand with the SWM nameplate. SWM now makes a range of crossovers and compact MPVs.{{Citation needed|date=June 2022}}
Key models include:
*[[SWM G01]] *[[SWM X7]] *[[SWM X3]]
<gallery> File:SWM G01 002.jpg|SWM G01 File:SWM X3 02 China 2018-03-20.jpg|SWM X3 File:SWM X7 China 2017-03-22.jpg|SWM X7
</gallery>
=== Renault Brilliance Jinbei (Jinbei) === {{Main|Jinbei (marque)}} Formerly a wholly owned subsidiary (Shenyang Brilliance Jinbei Automotive) which sold licensed Toyota and General Motors designs, Jinbei was re-formed with Renault in 2017 with plans to launch light commercial vehicles and SUVs with Renault technology, under the Jinbei and Renault marques.
Key models include: {{div col|colwidth=14em}} * [[Jinbei Konect]] (Guanjing) * [[Jinbei New Haise]] * [[Jinbei F50]] * [[Jinbei S70]] * [[Jinbei Haishiwang]] {{div col end}}
<gallery> File:Jinbei F50 001.jpg|Jinbei F50 File:Jinbei Haixing X30 China 2014-04-28.jpg|Jinbei Haixing X30 File:Jinbei Tjatse 01 China 2017-03-29.jpg|Jinbei Tjatse S70 </gallery>
==Operations== BMW-branded autos are made at a production base in the Northeastern Chinese city of [[Shenyang]] completed in 2004, and ongoing construction saw this base increase its production capacity to 200,000 units/year by 2012.<ref>For Shenyang production base, see [https://www.reuters.com/article/idUSBJB00356820091112 BMW and China partner in $735 mln mainland expansion] reuters.com, Thu Nov 12, 2009 2:13 am EST
* For year completed, see [http://www.bmw-brilliance.cn/cn/en/com_wwd.html Plant Introduction] {{webarchive|url=https://web.archive.org/web/20100404152301/http://www.bmw-brilliance.cn/cn/en/com_wwd.html|date=April 4, 2010}} BMW Brilliance Official site * For expansion plans, see [https://www.reuters.com/article/idUKTOE64R01K20100528 Brilliance China sees a "very satisfying" profit in 2010] {{Webarchive|url=https://web.archive.org/web/20130325214102/http://www.reuters.com/article/2010/05/28/idUKTOE64R01K20100528|date=March 25, 2013}} reuters.com, Fri May 28, 2010 1:15 am EDT</ref>
An engine-making production base is located in [[Mianyang]], [[Sichuan|Sichuan province]].<ref name="gg" />
== Sales == A total of 188,143 Brilliance marque vehicles were sold in China in 2013, making it the 25th largest-selling car brand in the country in that year (and the 10th largest-selling Chinese brand).<ref>{{cite news|url=http://chinaautoweb.com/2014/01/2013-passenger-vehicle-sales-by-brand/|title=2013 Passenger Vehicle Sales by Brand|access-date=4 March 2014|publisher=China Auto Web|date=15 January 2014}}</ref>
===European exports=== In 2007, Brilliance's [[Brilliance BS6|BS6]] sedan performed poorly in a crash test conducted by Germany's [[ADAC]], receiving only one out of five possible stars in the Euro NCAP rating.<ref>{{cite web | url = http://uk.reuters.com/article/idUKNOA23009720070622 | archive-url = https://web.archive.org/web/20090925220901/http://uk.reuters.com/article/idUKNOA23009720070622 | url-status = dead | archive-date = September 25, 2009 | title = Another Chinese Car Flunks German Crash Test | publisher = Reuters | date = July 22, 2007}}</ref> Brilliance then redesigned the car, changing at least sixty components, and it saw a three-star performance in a crash test performed by Spain's Idiada.<ref>{{cite web|last=Kujawska |first=Joanna |url=http://www.autochiny.pl/en/Changes_introduced_by_producer_in_Briliance_BS6 |title=Changes introduced by producer in Brilliance BS6 |publisher=Autochiny |date=March 18, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20110904181818/http://www.autochiny.pl/en/Changes_introduced_by_producer_in_Briliance_BS6 |archive-date=September 4, 2011 |df=mdy }}</ref> However, the price also rose considerably,<ref>{{cite web |url=http://www.chinacartimes.com/2007/09/13/brilliance-bs6-not-as-lethal-as-before/ |title=Brilliance BS6 Not as Lethal as Before |publisher=ChinaCarTimes.com |date=September 13, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20080323070015/http://www.chinacartimes.com/2007/09/13/brilliance-bs6-not-as-lethal-as-before/ |archive-date=March 23, 2008 |df=mdy }}</ref> and the importer (HSO Motors) went bankrupt in November 2009.<ref>{{cite web|url=http://www.autochiny.pl/en/Europe_is_not_for_Brilliance_the_importer_is_bankrupt |title=Europe is not for Brilliance, the Importer is Bankrupt |author=Hadyś, Michał |publisher=Autochiny |date=November 7, 2009 |access-date=2011-02-05 |url-status=dead |archive-url=https://web.archive.org/web/20110904182049/http://www.autochiny.pl/en/Europe_is_not_for_Brilliance_the_importer_is_bankrupt |archive-date=September 4, 2011 |df=mdy }}</ref> Brilliance then tried to go it alone, but with high pricing and considerable market reluctance after the well-publicized crash test failures, exports to Europe were ended in April 2010 with no immediate plans for resumption.<ref>{{cite web | title = China Automaker Brilliance Halts Europe Exports, Executives Say | url = http://www.autoweek.com/article/20100429/carnews/100429791 | publisher = Crain Communications | work = AutoWeek.com | date = April 29, 2010 }}</ref>
===SAIPA=== {{Main|SAIPA}} In 2015, Brilliance announced it had started joint production with SAIPA of Iran, to produce the H300 and H200 models, under the local brand name of Saipa.<ref>{{cite web|last1=Persian Khodro|title=Brilliance to Start Production Iran|url=http://www.persiankhodro.com/show_news/46304/%D8%A2%D8%BA%D8%A7%D8%B2-%D8%AA%D9%88%D9%84%DB%8C%D8%AF-%D8%A7%D9%86%D8%A8%D9%88%D9%87-%D8%AE%D8%A7%D9%86%D9%88%D8%A7%D8%AF%D9%87-%D8%AE%D9%88%D8%AF%D8%B1%D9%88%D9%87%D8%A7%DB%8C-H200-%D9%88-H300-%D8%A8%D8%B1%D9%84%DB%8C%D8%A7%D9%86%D8%B3|access-date=20 May 2015|website=Persian Khodro|date=May 19, 2015 }}</ref>
==References== {{Reflist}}
==External links== {{Commons category}} {{Portal|Companies}}
* {{official website}}
{{Brilliance Auto Group}} {{Automotive industry in China}}{{Automotive industry}}
[[Category:Brilliance Auto| ]] [[Category:Car brands]] [[Category:Companies listed on the Hong Kong Stock Exchange]] [[Category: Companies formerly listed on the New York Stock Exchange]] [[Category:Car manufacturers of China]] [[Category:Chinese brands]] [[Category:Luxury motor vehicle manufacturers]] [[Category:Vehicle manufacturing companies established in 1992]] [[Category:Multinational companies headquartered in China]] [[Category:Companies that have filed for bankruptcy in China]] [[Category:Defunct motor vehicle manufacturers of China]] [[Category:Companies owned by provincial governments of China]]