Brilliance China Automotive 1114

Brilliance China Automotive 1114

Postby winston » Tue Mar 23, 2010 7:31 am

Not vested.

by Dr. Check

Brilliance China Automotive Holdings (1114) - a joint venture partner of BMW - fell 3.9 percent to HK$2.24.

The company said on Friday that it expects a net loss for 2009, due to a one-time loss on the disposal of its Zhonghua sedan business. This news is not fresh and should have been discounted. But Brilliance shares faced selling pressure yesterday.

BMW sales in China grew 38 percent last year against a 10 percent decline worldwide. So the potential is there. If Brilliance dips near HK$2.10, it may be time for bargain hunting.

Source: The Standard HK

http://www.thestandard.com.hk/news_deta ... 00323&fc=2
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Re: Brilliance China Automotive 1114

Postby investar » Sat Jun 13, 2015 7:52 pm

Is China Bull Market Dampening car sales?

... from http://blogs.barrons.com/asiastocks/201 ... s&ru=yahoo

Before the monthly figure was released, Barclays‘s Yang Song and Joel Ying wrote that they expected May to be weak, and it was not just because of seasonality. “The strong stock market continues to crowd out auto purchases,” the analysts wrote.

Really? Are cars substitutes to stocks in China? Back in the good old days before the 2008 Financial Crisis, my colleagues at Lehman Brothers bought fancy cars as soon as they heard their bonus numbers. How about wealth effect? Don’t you want to spend on luxury items (and cars still are in China) when you feel richer?

But auto analysts should know better. So if it was indeed the stock market that dampened auto sales, then we shouldn’t worry about today’s numbers. After all, the bull market won’t go on like this forever and Chinese consumers will eventually look at what they want to buy with their capital gain.
...

Fact is, 1114 at 52wk low (very close to longer term support)
Restocking in 4Q 2015 can become a catalyst for this stock
Targets are all around 17 HKD
And... when the China stock market cools down, people will take profits and will be more able to buy a premium car
The 7 series looks good, the 5 series still most profitable, 3 series destocking probably almost finished, 2 series?

=> current risk/reward looks attractive, ideal entry around 10.5 (but 11.14 probably good too). But it should stay above 9.6
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Re: Brilliance China Automotive 1114

Postby investar » Sat Mar 04, 2017 6:08 pm

Strongest China Auto play?

...BMW, Mercedes or BYD?

https://finance.yahoo.com/chart/1211.HK ... UiOiIyeSJ9
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Re: Brilliance China Automotive 1114

Postby investar » Fri Jul 28, 2017 2:32 am

Nowadays at 19 HKD, after upgrades and some corporate action

https://www.bloomberg.com/gadfly/articl ... einvention
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Re: Brilliance China Automotive 1114

Postby investar » Thu Sep 14, 2017 4:16 am

Profiting from the recent news on China's car market...

Automakers are accelerating electric-vehicle investment in China to meet stricter environmental rules set to take effect in major markets. Starting next year, carmakers that fail to meet fleet-based emissions and fuel-economy limits could face fines under China’s new cap-and-trade framework.

Last week, Ford Motor Co. said it will explore setting up a venture with Anhui Zotye Automobile Co. to produce EVs. In May, Volkswagen AG received approval for partnership with Anhui Jianghuai Automobile Group to produce electric cars. Daimler AG and BMW also have electric car brands under their partnerships with BYD Co. and Brilliance China Automotive Holdings Ltd., respectively.
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 12, 2018 11:02 am

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<Resumption Ann>BRILLIANCE CHI: 25% JV Stake Disposal at RMB29B; Considers Spec Div

BRILLIANCE CHI (01114.HK) announced to sell to BMW an additional 25% equity interest in the joint venture BBA.

The consideration amounted to RMB29 billion and shall be payable in cash.

The equity interest held by BMW in BBA will be increased to a super-majority level (i.e. 75%).

The company will consider using the proceeds in distributing a special dividend, funding business development opportunities and general working capital needs of the company.

The company applied for a trading resumption with effect from tomorrow (12 October).

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 12, 2018 11:10 am

vested

<Research Report>UBS: BRILLIANCE CHI Selling JV Stake Disappoints Investors; Potential Valuation at $12.3

BRILLIANCE CHI (01114.HK)'s consideration of selling JV interest to BMW at 8.6x 2018E PE missed UBS' forecast.

With the transaction to be completed in 2020, UBS believed the valuation will be more unfavorable to BRILLIANCE CHI by that time.

The profit of the company will be reduced over 50% upon the disposal of the JV stake.

The research house predicted the company to declare a special dividend of $3.6 on the disposal, and its reasonable share price should be at $12.3.

The car maker was put on the watch list.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 12, 2018 12:03 pm

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Oct 11, 2018

<Research Report>JPM: BMW Invests in Mainland JV at Nearly 20% Premium; Sees Potential Spec Div in BRILLIANCE CHINA

BMW announced to raise its shareholding in BBA JV (BMW's joint venture with BRILLIANCE CHINA (01114.HK)) to 75% at EUR3.6 billion.

The JV contract will also be prolonged from 2028 to 2040. Such consideration represented nearly 20% premium over BRILLIANCE CHI's closing price on 10 October.

JP Morgan rated BRILLIANCE CHI at Overweight, with price target of $17.

Without major investment needs, BRILLIANCE CHI said it will distribute all of the disposal gain as special dividends. JP Morgan projected a $6-6.5 special dividend per share for BRILLIANCE CHI investors in 2020.

BRILLIANCE CHI was the industry top pick, followed by BYD COMPANY (01211.HK) and GAC GROUP (02238.HK).

JP Morgan anticipated GEELY AUTO (00175.HK) to benefit from new model launch in 2H18. The broker did not prefer GREATWALL MOTOR (02333.HK) and DONGFENG GROUP (00489.HK).

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Fri Oct 12, 2018 1:08 pm

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<Research Report>Nomura Trims BRILLIANCE CHI (01114.HK) Target to $12.8 with Rating Buy

Nomura adopted a new valuation model after BRILLIANCE CHI (01114.HK) announced the disposal of the JV stake to BMW.

The latest target price was $12.8, vs $17.2 previously.

The $9.6 out of the new target price came from the discounted cash flow value per share for the JV; and $3.2 from half of the proceeds from the disposal.

Nomura believed there will be special dividend distribution as a result.

Catalysts of the future share price include special dividend and expansion plan of the JV. The rating was maintained at Buy.

Source: AAStocks Financial News
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Re: Brilliance China Automotive 1114

Postby winston » Sat Oct 13, 2018 7:44 am

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Brilliance Auto shares plunge by almost a third as BMW plans to buy control of Chinese joint venture

Carmaker’s Hong Kong-listed shares tank as investors fear the stake sale will reduce future profits

The deal will not be completed until 2022, when a law that prevents foreign car makers owning more than a 50 per cent stake in a joint venture ends.

BMW said it will extend its partnership term with Brilliance Auto to 2040.

Brilliance Auto is not the only Chinese partner of BMW. In 2017, the famed German brand formed another joint venture with Great Wall Auto to produce electric BMW Mini vehicles.

In 2017, BMW sold 560,000 vehicles in China, two thirds of which were manufactured in its Shenyang factories. In the next three to five years, the annual production capacity of BBA will increase to 650,000, according to the company.

Starting in 2020, BMW will launch its all-electric BMW iX3, which will be assembled at the Dadong factory in Shenyang for delivery to Chinese customers or export to the rest of the world.


Source: SCMP

https://www.scmp.com/business/companies ... uy-control
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