China Car Forums banner
1 - 2 of 2 Posts

·
Registered
Joined
·
264 Posts
Discussion Starter · #1 ·
I wish i knew about this before..its obvious...chinese autos will become public in US markets directly in1-2 years..and they will be a good success..i just found out CBA (brilliance china auto) a resaller or wholeseller or distrubutor of chinese cars is on US market and BOOMED :(

am i too late...ill invest in geely and chery asap when they come


http://today.reuters.com/investing/...RTRIDST_0_AUTOS-CHINA-BRILLIANCE-UPDATE-1.XML
HONG KONG, Feb 10 (Reuters) - China's largest minibus maker, Brilliance China Automotive Holdings Ltd. (1114.HK: Quote, Profile, Research), said it aimed to sell 43 percent more cars and buses in 2006 and was in talks to expand a joint venture with partner BMW A.G. (BMWG.DE: Quote, Profile, Research).

The loss-making company wanted to raise sales to 100,000 cars and mini-buses from 70,000 last year, excluding BMW sales, newly appointed chief executive Qi Yumin said on Friday.

Brilliance and BMW sold 17,500 sedans from their venture in northeastern China in 2005 -- doubling the previous year but short of its capacity for 30,000 cars per year.

Chairman Wu Xiaoan cited analysts' expectations that the joint venture would sell between 22,000 and 25,000 BMWs this year, but executives would not set a target.

"For a Chinese joint venture, it needs to boost its production scale," he told reporters in Hong Kong.

Qi said discussions also encompassed increased usage of domestic parts and components.

Analysts polled by Reuters Estimates expect Brilliance to post a HK$36.9 million loss for the 2005 year but record a profit this year, aided by its rising sales and lower steel prices.

Brilliance hopes to triple sales of its home-grown Zhonghua cars in 2006 to 30,000 and raise minbus sales to 70,000 this year from 60,000 in 2005.

"I think in two years' time Brilliance's financial position will be greatly improved," he said.

The company is considering ways to refinance a US$200 million convertible bond maturing in November, including stock and debt markets, Qi said
 
1 - 2 of 2 Posts
Top