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| Chairman's Statement |
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 2010 signified another year of significant growth in the Chinese auto industry. According to the China Association of Automobile Manufacturers (“CAAM”), China’s vehicle sales increased by 32% in 2010 as government stimulus measures and rising affluence helped the nation to maintain its status as the world-largest auto market for the second consecutive year. Total auto sales in China exceeded 18 million units during the year, with passenger vehicles accounting for 13.8 million or an increase of 33% compared to the previous year.
For the Group, the year 2010 represents the first year of operation post disposal of the loss-making Zhonghua sedan business, with the true potential of our remaining businesses reflected in the major turnaround in profits generated during the year. Contribution from the BMW joint venture has risen by 152%, as a result of a 57% increase in sales volume and cost savings achieved through scale and continuous localization effort. As for the minibus business, despite a highly competitive environment, the Group has continued to maintain its market leading position and generated a 20% volume growth with stable profits.
Looking into 2011, CAAM has forecasted that sales and production in China will grow at a steadier pace of between 10% and 15% this year, after the government raising purchase taxes for small cars and Beijing slashing the number of new registrations. Therefore, despite the strong growth experienced in 2010, an overall industry slowdown remains a risk. |
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| Company at a Glance |
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 General
Overview
Brilliance China is one of the leading automotive manufacturers
in China through its subsidiaries, associated companies and
joint ventures in the PRC. During 2009, the Group disposed of its loss-making Zhonghua sedan business. Starting from January 2010, the Group's operating segments
are divided primarily into the manufacture and sale of minibuses
and automotive components. Its
commercial vehicle brands include "JinBei" and "Granse"
minibuses.
In 2003, the Group established a joint venture with BMW
to produce BMW 3-series and 5-series sedans in China. The
Group is also engaged in the manufacture of diesel engines and gasoline engines
for use in minibuses, sedans, SUV and light duty trucks and automotive
components, including but not limited to window moldings,
strips, axles, stamped parts, etc. |
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| Brands and Products |
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| Documents Available For Inspection |
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