Following the acceptance of Renault Brilliance's application for reorganization by the court, Renault Brilliance liquidation led by Gao Wei was formed as the administrator. According to the news on January 17, BMW Brilliance's new equity freezing information means that BMW's acquisition of Brilliance Manufacturing shares regenerates the fog.
On January 13, Brilliance China announced that Renault Brilliance's application for reorganization had been accepted by the Shenyang Intermediate People's Court, and that the Renault Brilliance Liquidation Team, led by Gao Wei, Director of the Comprehensive Laws and Regulations Department of the State-owned Assets Supervision and Administration Commission of Liaoning Province, was entrusted to manage the reorganization for the administrator. As early as the end of December last year, the National Enterprise Bankruptcy and Reorganization Case Information Network has disclosed that Renault Brilliance has applied for bankruptcy to the Shenyang Intermediate People's Court.
Speaking of Renault Brilliance may be a little strange, but it is familiar to speak of brilliance gold cup. The predecessor of Renault Brilliance Jinbei is Jinbei Automobile, which was established in 1989 as the earliest brand engaged in light commercial vehicles in China. In 2010, the number of Jinbei buses in the market exceeded 1 million, ranking first in China's commercial vehicle market for 19 consecutive years.
It can be said that Brilliance Jinbei once stood at the forefront of the light passenger market, but with the rise of brands such as Jiangling Motors, Brilliance Jinbei began to enter the downward range and once fell into a loss. In 2010, Jinbei car sales reached 100,000 units, but in 2016, there were only 23,100 units.
According to the annual report of Brilliance China, the parent company of Jinbei Automobile, with the decline in sales, the net loss of Jinbei Automobile in 2016 was 708 million yuan, the total liabilities have reached 10.7 billion yuan, and the net debt is 3.606 billion yuan. In the face of difficulties, Jinbei Automobile can be said to be helpless, and has to ask for help. At this time, Renault threw an olive branch.
Jinbei Automobile is in deep trouble and cannot extricate itself, Renault is eager to open up the commercial vehicle market in China and reverse the poor development of passenger cars in China, the two hit it off is to enter into a framework cooperation agreement in 2017, hoping that Renault's leading commercial vehicle and light bus products and technologies in Europe can help Brilliance Jinbei come back to life.
In the end, Renault acquired 49% of the equity interest of Brilliance Jinbei at a price of 1 yuan, and the debt was transferred at the same time, hoping to produce and sell light commercial vehicles under the three brands of Jinbei, Renault and Huasong, and realize the turnaround of the light passenger business. In order to save the mess of brilliance gold cup, Renault has also made some efforts, adding 600 million yuan in investment and carrying out "transformation actions".
However, with the deepening of the specific operation stage, the old problem of Renault's dissatisfaction with water and soil has been committed again. Cut off a lot of good reputation of the old model, but at that time Renault promised to import the core product Talisman, due to cost reasons delayed landing, helplessly took the old Geris into the "Sea Lion King", confused things. Four years of joint venture road, Renault Gold Cup is about to end?
Therefore, it is important to find a partner, and the introduction of Renault not only did not save the Gold Cup but also lost its "reputation". You know, Renault's joint ventures in China are not very prosperous. Dongfeng Renault ended with dissolution, investing in Jiangling Group's new energy until September last year, renault Jiangling Yi was officially listed, facing the Chinese and European markets simultaneous sales. At present, Renault and Geely have jointly developed hybrid models.
The increase in BMW Brilliance's equity was frozen, and the amount of frozen equity was about 69.9076 million yuan, and the executor was Shenyang Jinbei Automobile, and the freezing period was from January 13, 2022 to January 12, 2025.
Affected by the restructuring of Brilliance Group, the BMW acquisition case is also a twist and turn. At the end of August last year, BMW China announced that it would acquire some of the assets related to the production of Zhonghua brand cars and the equity of Brilliance Manufacturing Co., Ltd. for 1.633 billion yuan. It is reported that the total assets related to the production of "Zhonghua" brand cars are 1.233 billion yuan, and the acquisition will have a premium of 400 million yuan. According to the analysis, BMW China is a premium acquisition, and the premium of 400 million yuan is equivalent to the purchase of vehicle production qualifications.
However, this acquisition has not yet been completed, and even the BMW acquisition has been stopped, and there are rumors that there is a figure of FAW Group. Brilliance Group's self-help has not been successful, and there is uncertainty about whether BMW China can successfully acquire Brilliance Automobile Manufacturing, and now Jinbei Automobile has been restructured.
After Renault Brilliance, the next thing to fall is...