Gasgoo.com (Shanghai August 31) - Brilliance Automobile earned 1.33 billion yuan ($210.28m) in net profits over the first half of the year, money.163.com reported today. The figure represents year-on-year growth of 41.5 percent for Brilliance. The manufacturer's business returns over the six month period totaled 2.81 billion yuan ($443.61m), 11.27 percent more than what it earned last year. Its per-share stock value was 0.2643 yuan ($0.042).
According to its recently released performance review, Brilliance's subsidiary Shenyang Motor sold 39,704 buses over the six month period, 8.6 percent less than the 43,424 buses it sold in the first six months of 2011.
However, Brilliance's joint venture with BMW was still its primary source of revenue. A total of 80,792 Brilliance BMW vehicles were sold in the first half of the year. The JV's sales grew a full 45.9 percent from the 55,012 it sold in the first half of 2011. 1.31 billion yuan ($206.81m) of Brilliance's total net profit came from the JV.
Brilliance BMW's new factory in Shenyang's Tiexi District has already begun operation. The factory will boost the JV's annual production capacity by 40,000 vehicles.
