Gasgoo.com (Shanghai July 1) – Brilliance Auto Group is engaging in the preparation of listing the entire group, stated Qi Yumin, President and CEO of Brilliance Group in June 29. With the reform of state-owned assets management launching in Liaoning Province, BrillianceAutoGroup, one of the biggest enterprises in Liaoning Province, begins to reform.
Mr. Qi added that the entire listing is now a general target, leaving many details undecided including the timetable. Previously there have been many rumors about our listing, which were market hype. But this time the enterprise is actually doing it.
Among all the subsidiaries of Brilliance Group, only four companies have gone public. Brilliance China and Mianyang (China) Xinchen Engine went public in Hong Kong. And Jinbei Automobile and ShenHua holding are A-share listed companies. And the four main business sectors cover Vehicle Manufacturing, engine production, commercial vehicleproduction and vehicle sales.
Several leaders in Liaoning Province recently have visited BrillianceGroup, pointing out that the Group should head further reform and bring in social capital, to build a great enterprise ofComposite-Ownership System, including employee stock ownership. However, apparently the company should wait for a more mature opportunity to go public entirely.
Its two listed subsidiariesJinbeiAutomobile and ShenHua are now holding deficit. Besides, Zhonghua, the most important business of the enterprise, is also experiencing losing money.
