Brillance is financieel niet zo'n hoogvlieger volgens
dit artikel op de toonaangevende Automotive News site (registratie is vereist om het artikel te lezen).
Enkele quotes:
Quote:
Brilliance turmoil continues with management shakeup
Reuters / December 10, 2004
HONG KONG -- Two top executives have quit their positions at Brilliance China Automotive Holdings Ltd., the joint venture partner of Germany's BMW AG, less than a month after its auditor resigned.
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The development unsettled investors already rattled by the unexplained resignation of auditor PricewaterhouseCoopers last month.
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Brilliance is China's largest maker of minivans and was the first Chinese firm to list on the New York Stock Exchange, in 1992, but its road has been rocky.
Two years ago, former Chairman Yang Rong fled to the United States after being accused of unspecified economic crimes by Beijing.
Brilliance's recent sales record has also disappointed investors.
"The business itself is not doing well," said Christopher Lee, an analyst at S&P Asian Equity Research. "I think most institutions who own it have sold down."
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