BMW tie-up propels Brilliance's profit
By Lu Nengneng |
March 28, 2013, Thursday
|
Print Edition
Print Edition
NET profit at Brilliance China Automotive Holdings Ltd jumped 27 percent in 2012 as contribution from its joint venture with BMW helped drive sales.
Hong Kong-listed Brilliance posted a net income of 2.3 billion yuan (US$370 million) last year, with its BMW joint venture propelling a higher profit contribution of 35.2 percent on the back of a 48.7-percent sales surge, the company said in a filing to the Hong Kong stock exchange yesterday.
Deliveries of BMW-branded cars on the Chinese mainland climbed 40 percent to 303,169 vehicles, which included 3- and 5-series sedans and X1 SUVs assembled by Brilliance, as the luxury passenger segment of the auto market grew about 30 percent last year compared with a mild rise of 7.1 percent for the overall passenger car market.
Its joint venture with BMW was productive as their second plant in Shenyang, Liaoning Province started operation at the start of 2012. The plant aims to add 400,000 vehicles annually in the mid term, and a new engine assembly facility was set up.
"The joint venture is also developing Chinese-branded new energy products to be launched at the end of 2013'' the firm said in the filing.
Hong Kong-listed Brilliance posted a net income of 2.3 billion yuan (US$370 million) last year, with its BMW joint venture propelling a higher profit contribution of 35.2 percent on the back of a 48.7-percent sales surge, the company said in a filing to the Hong Kong stock exchange yesterday.
Deliveries of BMW-branded cars on the Chinese mainland climbed 40 percent to 303,169 vehicles, which included 3- and 5-series sedans and X1 SUVs assembled by Brilliance, as the luxury passenger segment of the auto market grew about 30 percent last year compared with a mild rise of 7.1 percent for the overall passenger car market.
Its joint venture with BMW was productive as their second plant in Shenyang, Liaoning Province started operation at the start of 2012. The plant aims to add 400,000 vehicles annually in the mid term, and a new engine assembly facility was set up.
"The joint venture is also developing Chinese-branded new energy products to be launched at the end of 2013'' the firm said in the filing.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
