Brilliance China Automotive, the Chinese partner of German carmaker BMW, posted a 52 per cent rise in first-half profit from a year ago, driven by increased profit contribution from its joint...
Brilliance China Automotive
Based in Shenyang in China, Brilliance China Auto makes cars, minibuses and automotive components. It has a car-making joint venture with BMW and a minibus-making joint venture with Toyota.
Shares in Hong Kong-listed mainland carmakers jumped on speculation that mainland car buyers will continue to turn their back on Japanese vehicles.
Shares of Brilliance China Automotive plunged to a one-month low yesterday after they resumed trading following an announcement of a share placement by the carmaker's parent company.
Brilliance China Automotive will consider declaring a dividend next year after it completes most of its investment projects.