| Latest announcement date of divestiture: February 12, 2010 |
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| Asset stripping party | Shenyang Brilliance Jinbei Automobile Co., Ltd |
| Asset receiver | Brilliance Auto Group Holdings Co., Ltd |
| Trading assets | Relevant assets of Brilliance Jinbei China business |
| Transaction Profile | Shenyang Brilliance Jinbei Auto Co., Ltd., a joint-stock subsidiary of Jinbei Auto Co., Ltd., signed an agreement with Brilliance Auto Group Holdings Co., Ltd. to transfer the relevant assets, liabilities, contracts and personnel of Brilliance Jinbei China business to Brilliance Group, so as to improve the operating profitability and sustainable development ability of Brilliance Jinbei. On November 24, 2009, the transfer was approved by the State owned Assets Supervision and Administration Commission of the People's Government of Liaoning Province in the document Liao Guo Zi Zi Quan [2009] No. 258. Brilliance Group has obtained the announcement of vehicle manufacturers and products (batch 199) (GY [2009] No. 61) issued by the Ministry of Industry and Information Technology of the People's Republic of China, and completed the change registration of the industrial and commercial business license on November 25, 2009. According to the transfer agreement, the transaction has been completed on December 31, 2009. Brilliance Group has received the assets and liabilities transferred by Brilliance Jinbei for compensation. The total assets received are 7183926695.42 yuan, the total liabilities are 6689222657.57 yuan, and the net amount of assets minus liabilities is 494704037.85 yuan, This is the net asset price excluding tax paid by Brilliance Group to Brilliance Jinbei, and the specific delivery amount will be determined after audit. |
| Transaction Date | -- |
| Programme progress | implementation |
| Transaction amount (10000 yuan) | zero |
| Currency code | RMB yuan |
| Trading liabilities | Liabilities related to Brilliance Jinbei China business |
| Changes in transaction history | |
| Date of first announcement | 2009-10-31 |
| Latest announcement date | 2010-02-12 |
| Information Discloser | Jinbei Automobile Co., Ltd |
| Impact of the transaction on the information disclosing party | Before the delivery of the transferred assets, an impairment provision of about 1642800000 yuan has been made for the transferred assets, which is expected to increase the amount of losses of the Company this year, which will have a greater impact on the Company. |
| Relationship between divestiture party and information disclosure party | Holding and participating companies of the company |
| Relationship between asset acceptor and information discloser | No association |
| Related transaction or not | no |
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