Brilliance Auto's main profit comes from BMW Brilliance. Brilliance Group failed to market its own brands well, resulting in very weak profits from its own brands.

Since 2017, Brilliance Group's bonds have begun to fall. In October 2020, Brilliance Group was unable to pay one billion in bonds, resulting in a default.

In the first half of 2020, Brilliance Auto China's net profit exceeded 4 billion, but it was mainly BMW Brilliance that made the majority of the contribution. The group's own brands did not sell many, but BMW Brilliance's sales were amazing.

Brilliance Auto relies too much on BMW Brilliance, and the group's own brands have failed to achieve good sales. As a result, the spinoff of BMW Brilliance has put great pressure on Brilliance Group, and its funds have also been greatly troubled.

Brilliance Auto's bonds had already begun to show a downward trend in July 2020.

According to statistics, Brilliance Automobile has incurred debts of 114 billion yuan since 2017; in 2018, Brilliance Automobile had debts of 119.5 billion yuan; in 2019, Brilliance Automobile had debts of 119.5 billion yuan;

144.7 billion yuan.

As of March 2020, Brilliance Automobile Group's total liabilities were 122.6 billion yuan, while the amount of long-term debt was close to 20 billion yuan and the amount of short-term debt reached more than 40 billion.

Data shows that Brilliance Automobile Group's debt amount is getting higher and higher, and it has been showing a growing trend, which is worrying.

The default incident of Brilliance Auto Group Holdings Co., Ltd. is shocking. Brilliance Automobile Group Holdings Co., Ltd. has a billion-yuan private placement bond? 17 Huaqi 05? It has no ability to pay it, forming a breach of contract.

As soon as the news spread, there was a lot of discussion, and Brilliance Automobile issued an announcement stating that Brilliance Automotive Group Holdings Co., Ltd.'s liquidity is relatively tight. The company is still working hard to prepare funds, hoping to tide over the difficulties, but because of the relatively large difficulties faced in funding

, so there is significant uncertainty as to whether sufficient funds can be raised in time.

Brilliance Auto's announcement confirmed the authenticity of the news about Brilliance Auto's billion-dollar bond default.

Brilliance has always adhered to technological innovation.

In 2006, Brilliance signed a vehicle import and export agreement with a French buyer for 130,000 vehicles, setting a record for the largest total number of vehicle import and export orders in Chinese history.

In recent years, China's economic development and my country's automobile industry have continued to grow.

Brilliance Automobile seizes the opportunity to further establish its development prospects, and strive to develop and expand the automobile industry in a down-to-earth manner with a more open and practical spirit of collaboration and innovation.

A successful start, clear goals, appropriate development strategies, firm confidence, and bright market prospects are the new look of Brilliance Auto.

Brilliance people will strive to become a competitive intelligent automobile industry group company in five to ten years through persistent independent development and extensive global cooperation.

The company ranked 143rd in the 2006 ranking of the top 500 Chinese companies jointly announced by the China Enterprise Confederation and the China Entrepreneurs Association, and ranked first in the 2007 ranking of the top 500 Chinese companies.

One hundred and eighteen.