Recent events
Recent events tied to this brand in public sources.
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2021
BMW China agrees to acquire Brilliance Auto Manufacturing
BMW China signed an equity purchase agreement with Brilliance Group to acquire all of Brilliance Auto Manufacturing; the proposed transaction would give BMW China sole control, and the case entered a public notice period.
2021
Details of alleged debt evasion by Huachen disclosed
A report disclosed further details alleging that Huachen transferred or pledged valuable assets at low prices before its bankruptcy restructuring. The article presents the allegations but does not report a formal determination.
2021
Some Brilliance subsidiaries' businesses halt during restructuring
During Brilliance Automotive Group's bankruptcy restructuring, some subsidiaries, including its self-owned passenger-vehicle and parts businesses, had halted operations, leaving corresponding brand dealers without cars to sell.
2021
Shanghai Stock Exchange publicly censures Brilliance Auto Group
The Shanghai Stock Exchange publicly censured Brilliance Auto Group and its chairman and disclosure officer after finding violations, including failures to timely disclose material information and cooperate with risk checks.
2020
CSRC opens investigation into Brilliance Group disclosure violations
The China Securities Regulatory Commission said it had opened an investigation into Brilliance Group over suspected information disclosure violations. It also took an administrative regulatory measure by issuing a warning letter to the group.
2020
Court accepts Huachen Group restructuring application
The Shenyang Intermediate People's Court accepted a creditor's application to restructure Huachen Automotive Group Holding Co., Ltd., formally bringing the group into restructuring proceedings. The court said the group had insufficient assets to repay all its debts but had value and potential to be rescued.
2020
Brilliance Group enters bankruptcy reorganization
Shenyang Intermediate People's Court accepted a creditor's application for the reorganization of Brilliance Auto Group Holdings Co., Ltd., formally placing the group into bankruptcy reorganization. The ruling said the group could not repay all its debts, while also finding grounds and potential for reorganization.
2020
Brilliance Group enters bankruptcy reorganization
The Shenyang Intermediate People’s Court accepted a creditor’s application to reorganize Brilliance Automotive Group Holdings Co., Ltd., formally placing the company into bankruptcy reorganization.
2020
Creditor applies to reorganize Huachen Group
Huachen Group received notice that creditor Gezhi Automotive Technology Co., Ltd. had applied to the Shenyang Intermediate Court to reorganize the group. The report said the court had not yet issued a formal ruling accepting the application, and whether reorganization would proceed remained uncertain.