Brilliance group or today announced bankruptcy restructuring, insiders said all is normal

category:Finance
 Brilliance group or today announced bankruptcy restructuring, insiders said all is normal


In fact, as early as November 13, the case number (2020) Liao 01 Po Shen No. 27 released by the national enterprise bankruptcy reorganization case information network showed that Gezhi Automobile Technology Co., Ltd. applied to Shenyang intermediate peoples Court of Liaoning Province for bankruptcy reorganization of brilliance group.

According to Tianyan information, Huachen groups shareholders are Liaoning provincial government state owned assets supervision and Administration Commission and Liaoning Provincial Social Security Fund Council (Provincial Industrial (venture) investment guidance fund management center), with 80% and 20% shares respectively. According to the bond rating report issued by Dongfang Jincheng, as of the end of 2019, brilliance group has 34 first and second tier subsidiaries, including four listed companies, namely Brilliance China (1114. HK), Jinbei Automobile Co., Ltd. (Jinbei Automobile, 600609), Shanghai Shenhua Holding Co., Ltd. (Shenhua holding, 600653) and Xinchen China Power Holding Co., Ltd. (Xinchen) Power, 1148. HK). Previously, the surging News reported that BMW Brilliance, a joint venture partner of brilliance group, responded to the recent debt crisis of brilliance group, saying that BMW Brilliance Automobile Co., Ltd. and brilliance group are independent legal entities. The current problem is only the matter of brilliance group, and the operation of our joint venture BMW Brilliance automobile company will not be affected. Or affected by the news of the bankruptcy and reorganization of brilliance group, Hong Kong shares of Brilliance China rose in the short term, with an intraday rise of nearly 5%; as of press release, Brilliance China rose 2.32% to HK $7.07/share. Source: surging news editor: Chen Hequn_ NB12679

According to Tianyan information, Huachen groups shareholders are Liaoning provincial government state owned assets supervision and Administration Commission and Liaoning Provincial Social Security Fund Council (Provincial Industrial (venture) investment guidance fund management center), with 80% and 20% shares respectively. According to the bond rating report issued by Dongfang Jincheng, as of the end of 2019, brilliance group has 34 first and second tier subsidiaries, including four listed companies, namely Brilliance China (1114. HK), Jinbei Automobile Co., Ltd. (Jinbei Automobile, 600609), Shanghai Shenhua Holding Co., Ltd. (Shenhua holding, 600653) and Xinchen China Power Holding Co., Ltd. (Xinchen) Power, 1148. HK).

Previously, the surging News reported that BMW Brilliance, a joint venture partner of brilliance group, responded to the recent debt crisis of brilliance group, saying that BMW Brilliance Automobile Co., Ltd. and brilliance group are independent legal entities. The current problem is only the matter of brilliance group, and the operation of our joint venture BMW Brilliance automobile company will not be affected.

Or affected by the news of the bankruptcy and reorganization of brilliance group, Hong Kong shares of Brilliance China rose in the short term, with an intraday rise of nearly 5%; as of press release, Brilliance China rose 2.32% to HK $7.07/share.