On the evening of January 12, Brilliance China announced on the Hong Kong Stock Exchange that the reorganization application of the company's subsidiary, Renault Brilliance Jinbei Automobile Co., Ltd., has been accepted by the Shenyang Intermediate People's Court. According to the court order, the liquidation team of Renault Brilliance Jinbei Automobile Co., Ltd., led by Gao Wei, director of the Comprehensive Regulation Department of the State-owned Assets Supervision and Administration Commission of Liaoning Province, has been appointed by the Shenyang Intermediate People's Court as the administrator to manage the reorganization.
According to the announcement, trading in the Company's shares on the Stock Exchange will be suspended from 9:00 a.m. on 31 March 2021 to fulfil the Resumption Of Trading Guidelines contained in the Company's announcement dated 31 May 2021 and will continue to be suspended until further notice.
Brilliance China will continue to pay close attention to the development of the reorganization and actively cooperate with the follow-up reorganization process.
![Another domestic car company fell into "bankruptcy reorganization", owed hundreds of billions of debts, or will be acquired by BMW?[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)