Brilliance Auto Faces Loss for 2009
2010-03-24 Source：www.chinabuses.org
www.chinabuses.org:Brilliance China Automotive Holding Ltd, the first Chinese auto maker listed outside mainland China, on Friday said that the company may report a net loss for last year.
According to a statement filed with the Hong Kong Stock Exchange, the company's sales of Zhonghua sedans failed to reach the break-even level due to a change in product mix. The Chinese auto maker is likely to consider partially writing off the value of intangible assets relating to Zhonghua sedans.
The company's net profit was RMB 80.93 million in 2008, sources reported.
In January, Brilliance China said that it would buy the remaining 1% stake it does not own in Shenyang Brilliance XinJinBei Automobile Co Ltd and Shenyang JinBei Automotive Industry Holdings for a total of RMB 30 million, according to an earlier report from China Knowledge.
Views:0Editor：
Related China Bus News
editor@chinabuses.org
86-10-84933192;
