Hello, everyone. Im qingliujun who is trying to make money to buy a car. However, when it comes to BMWs new car, it will definitely escape.
Since 2006, brilliance group has been ranked first among tax paying enterprises in Shenyang for 15 consecutive years, and the tax payment was even more than half of the total amount of top ten tax payers in Shenyang. Sounds great, doesnt it? But in fact, all the aura and glory comes from BMW, not brilliance.
As a matter of fact, since July this year, brilliance has fallen into a stock bond storm, with many bonds plummeting, and media reports are often marked with the words 100 billion debt topping. It can be said that overnight, the building will collapse.
This video will tell you the story of BMW Brilliance and the big guy behind it. How did Yangrong, a big man who once manipulated the capital maze and put the gold cup on the throne of Chinas first share in the U.S., was kicked out of the market after achieving brilliance? How did brilliance, which was once famous and even equalled with BMW, play a good hand of cards poorly?
The operation is as fierce as a tiger, and it is the first company to go to the United States
Although the current chairman of brilliance is Yan Bingzhe, he just took office in April last year. Brilliances start and rapid development, the real operator is another big capital - Yangrong.
In the video of Henan pyramid marketing organization insider disclosure in the Qingliu plus series, we once mentioned that the original stocks are always famous for their low price and ultra-high return. It is easy for the uncles and aunts to fall in love with the original stocks, because in their young age, some people really became rich overnight because of the original stocks. For example, Yangrong, entering the auto industry, made a fortune by original stocks.
In 1987, Zhao Xiyou, director of Shenyang Agricultural machinery and automobile industry bureau, was ordered to combine more than 50 auto parts enterprises in the city into Jinbei Automobile Company. At that time, the golden cup was short of funds and was on the verge of bankruptcy, so it decided to try to reform the joint-stock system to raise funds. In 1988, the golden cup first publicly offered 100 million yuan of preferred shares to the public, at a rate of 1 yuan per share. At that time, almost no one knew about the stock, so half of these original shares did not sell after the end of the subscription period.
After all, he was a man who worked in the East Lake Hotel in Shanghai. With the money made in the stock market and borrowing money, he bought 46 million original shares of Jinbei in one fell swoop and entered the automobile industry.
Yangrongs courage and ambition are more than that. He wants the gold cup to be listed in the United States and put the five-star red flag on Wall Street. But at that time, China did not even have the Securities Regulatory Commission, and it was a dream to go to the U.S. stock market. In addition, one of the conditions for listing in the U.S. stock market is that private ownership cannot be allowed, which means that Yangrong must give up its shares.
But there is no plate Yangrong cant handle. The next step is to witness his operation.
Yangrong first opened a shell company in Bermuda, called Brilliance China Automobile Co., Ltd. After that, four institutions, including the central bank and the China Institute of finance, set up a non-profit organization, China financial education foundation, in Shanghai. This foundation has 55.85% equity of Brilliance China, while the actual controller of brilliance is still Yangrong.
In October 1992, with the support of the foundation and the endorsement of the central bank, Brilliance China, with its people on the top, successfully listed in the United States. As the first share of socialist countries, it caused a huge sensation on Wall Street and in China, raising 80 million US dollars.
Warm tips, the original stock not only attracted investors, but also attracted cheaters. You and I are mortals, one has no money, two do not have the ability to do business, when the myth of the original stock of sudden wealth hit on the head, or to beware of being cheated.
At the end of 2000, the first generation of Zhonghua cars came off the production line. Yangrong publicly said: by 2006, the only Chinese automobile brand that dares to challenge foreign enterprises is brilliance china! This is not blind self-confidence. According to reports, Renault president Du Mai visited brilliances factory and said, the worlds revolution began in Paris, and the Chinese automobile revolution started from Yangrong.
Ideal fullness, realistic bone feeling. The car was made, but Brilliance China didnt get the vehicle sales qualification. He couldnt sell the car at all! So the first batch of cars were digested by employees.
But dont worry, there are three ways to do it. While preparing Brilliance China brand, brilliance still has a way to go, which is to make pickups. As early as 1999, Yangrong had a successful marriage with Tianye automobile, the predecessor of Baoding automobile factory, and gave birth to a child named Zhongxing.
In addition to ZTE, the biggest gift the field brings to brilliance is BMW! At that time, BMW was looking for a domestic partner, and it had several contacts with fieldwork.
And brilliance is through the field, and BMW colluded with. In 2001, brilliance and BMW formally began to contact each other. In October of the same year, brilliance BMW Automobile Co., Ltd. was established. At that time, the leader of BMW domestic project team was Yangrong.
Its a good thing to get married with BMW. BMW almost runs all the way with brilliance. In the past 10 years, BMW Brilliance has brought about an annual profit of 4 billion yuan for brilliance automobile.
So far, through various operations of Yangrong, brilliance Empire gradually emerged, with a market value of 24.6 billion, including 5 listed companies and 158 affiliated companies, which was called brilliance maze by the media at that time.
A thought of the difference, one fell into the cliff
But Yangrong, who laid out the brilliance maze, did not expect that he would soon be driven out of the maze.
In 2001, the Muma big case broke out in Liaoning Province, involving many corruption cases of officials. The incident was later adapted into a TV series the river goes East. Interested friends can go and have a look.
People concerned expressed their hope to Yangrong that the rover project would be implemented in Dalian. After many consultations, Yangrong still refused to give in. He thought that brilliance was in control, but he forgot a crucial thing, that is, the China Financial Education Development Foundation mentioned above. As a result, the state-owned fund of yanghuachen can be expelled from the state-owned fund at any time.
In March 2002, Liaoning Province set up a working group to receive brilliance assets and began to comprehensively check, verify and receive brilliance assets. In June 2002, Brilliance China announced the dismissal of Yangrongs chairman of the board of directors and chief executive officer. The public security department also announced that Yangrong was arrested by the Liaoning Provincial procuratorate for suspected economic crimes.
Naturally, Yangrong was not satisfied. His appeal to the Beijing Higher Peoples court was fruitless, but he also sued in the United States. Yangrong has also disclosed to the media that it is his most regretful thing to insist on investing in Ningbo, but there is no regret medicine in the world.
What is the future of brilliance, which has become a parasite after abandoning martial arts?
Brilliance group seems to have a big family and a big business, but it has and only BMW Brilliance can play. According to the financial report in 2019, BMW Brilliance contributes more than 95% to the companys revenue, profit and operating cash flow. However, brilliances independent brands such as Brilliance Jinbei and brilliance Zhonghua are just losing money without making any profit. If the profit share from BMW Brilliance is removed, the total loss of other sectors of Brilliance China in the first half of this year will reach 338 million yuan. Brilliance BMW explains with real gold and silver what is life belt can not move.
Brilliance has been lying in peace and contentment all the way. A big reason is that it believes in the support of the government. Brilliance group, especially BMW Brilliance, affects the development and investment of the whole automobile industry chain in Shenyang and even Liaoning Province. It has more than 160 related companies and 47000 employees. The government cant watch 45000 people go home after being unemployed overnight.
The government did help, mainly by providing financial support to brilliance by taking over part of the equity of brilliance. On May 27, brilliance group sold 200 million shares of brilliance china equity to Liaoning Jiaotong Investment Co., Ltd., accounting for 3.96% of Brilliance Chinas equity; on July 14, Liaoning Jiaotou started another 400 million shares and obtained 7.93% of the total equity.
In recent years, there are not a few cases of Liaoning government trying to take over for weak enterprises. From northeast special steel to Huishan dairy, then to Dalian machine tool and Dandong Port Group, the government tried its best to help these big taxpayers tide over the difficulties.
With strong government support in a short period of time, brilliance may not collapse suddenly. But if we wait for death, who can guarantee that brilliance will never go bankrupt and restructure? The equity delivery for BMW to increase its shareholding in BMW Brilliance is planned to be completed before 2022. By then, BMW Brilliance will have less and less blood transfusion for brilliance groups own brand, and brilliance will have less confidence and chips in front of the government. You cant rely on the government. What about yourself? Unfortunately, the brutal market will not wait for a failed straggler. Looking back on the past, BMW has spent 17 years using brilliance to open up the Chinese market and firmly occupy the leading position in the market before regaining its rights. Two words, absolutely. Brilliance, on the other hand, relies too much on BMW and abandons its martial arts skills, resulting in no improvement in its own product line. However, Yangrong, who created the brilliance empire but was suddenly out of the game, made a mistake and lost all over the market. Whats more, its hard to let the listeners feel sorry. Source: Qingliu editor: Yang Bin_ NF4368
With strong government support in a short period of time, brilliance may not collapse suddenly. But if we wait for death, who can guarantee that brilliance will never go bankrupt and restructure?
The equity delivery for BMW to increase its shareholding in BMW Brilliance is planned to be completed before 2022. By then, BMW Brilliance will have less and less blood transfusion for brilliance groups own brand, and brilliance will have less confidence and chips in front of the government.
You cant rely on the government. What about yourself? Unfortunately, the brutal market will not wait for a failed straggler.
Looking back on the past, BMW has spent 17 years using brilliance to open up the Chinese market and firmly occupy the leading position in the market before regaining its rights. Two words, absolutely.
Brilliance, on the other hand, relies too much on BMW and abandons its martial arts skills, resulting in no improvement in its own product line. However, Yangrong, who created the brilliance empire but was suddenly out of the game, made a mistake and lost all over the market. Whats more, its hard to let the listeners feel sorry.