Founded in May 2003, BMW Brilliance Automotive Ltd. (BBA) is a joint venture between BMW Group and Brilliance Group. Its business operations include R&D, procurement, production, sales and after-sales services of BMW automobiles in China. BBA is focused on high-quality development, and aspires to be the leading sustainable provider of first-class individual mobility across the entire value chain of China’s automotive industry. BBA has a state-of-the-art production base in Shenyang, Liaoning Province, branch companies in Beijing and Shanghai, and a subsidiary named Lingyue Digital Information Technology Ltd., with offices in Beijing and Nanjing. The joint venture has around 23,000 employees, more than 430 local content suppliers, and has been the top taxpayer in Shenyang for 16 consecutive years. BBA produced more than 700,000 BMW cars in 2021, making it – for the first time – the largest producer of premium cars in China. Its national sales and service network of 683 BMW outlets has a leading reputation for customer satisfaction among premium automotive brands in China.
BBA’s Shenyang production base is the largest in the BMW Group global production network. Guided by the BMW iFACTORY production masterplan, its plants produce technology-leading BMW products using the latest advanced manufacturing processes and digital innovations. It currently manufactures the BMW 1 Series Sedan, BMW 3 Series (long and standard wheelbase), All New BMW i3, BMW 5 Series long wheelbase (and plug-in hybrid variant), BMW X1 long wheelbase (and plug-in hybrid variant), BMW X2, BMW X3 and BMW iX3, and All New BMW X5. In 2021, BBA produced more than 700,000 BMW vehicles across its two vehicle plants – Plant Dadong and Plant Tiexi. The Tiexi location is also home to an R&D Center and Powertrain Plant, which produces BMW Group’s latest generation of 3 and 4 cylinder engines and Gen 5 high-voltage batteries. BBA continues to expand its production footprint in Shenyang, with a complete new plant and a major plant structure extension opening in 2022.
Sustainability is central to BBA’s corporate strategy. As well as lowering its fleet emissions by launching more electrified and low-emission vehicles, BBA has significantly reduced its CO2 emissions, energy consumption, and water consumption per vehicle produced over the years. Its production base is powered by 100% renewable electricity and features circular systems for steel and aluminum. It shares its best practices with its partners to establish CO2 disclosure mechanisms and energy management capabilities, to cascade sustainability into its value chain. Through these actions, BBA is contributing to the BMW Group target of reducing CO2 emissions across the entire life cycle of a vehicle by at least 40% by 2030 from 2019 levels. BBA ranked No.1 in China’s Automotive Enterprise Green Development Index in 2021, and has received National Green Plant accreditation for 5 years in a row.
Corporate Social Responsibility (CSR) is an integral part of BBA’s sustainable development strategy. BMW CSR leverages BMW’s core strengths and stakeholders to solve real social problems, create shared value and contribute to Chinese society. BMW CSR activities include caring for left-behind children with BMW JOY Home, safeguarding China’s intangible heritage with BMW China Culture Journey and improving road safety with BMW Children’s Traffic Safety Education. In 2021, BMW extended its CSR strategy to environmental protection with the launch of the BMW Beautiful Homeland Initiative.
As a responsible corporate citizen of China, BBA is fully committed to developing local talent, creating high-quality jobs, actively supporting its partners, and contributing to the economic development of Shenyang, Liaoning Province and Northeast China. It will continue to integrate responsible and sustainable practices throughout its entire value chain, contribute positively to Chinese society and provide its customers with the high-quality products and services that the BMW brand stands for.
|Financial information relating to equity accounted investments is summarised in the following tables (from a 100% perspective):||BMW Brilliance|
|In € million||31.12.2021||31.12.2020|
|DISCLOSURES RELATING TO THE BALANCE SHEET|
|thereof cash and cash equivalents||8,493||5,137|
|Non-current financial liabilities, provisions and liabilities||2,027||1,546|
|Current financial liabilities, provisions and liabilities||10,809||8,217|
AGGREGATED FINANCIAL INFORMATION
|Provisions and liabilities||12,836||9,763|
|Group’s interest in net assets||5,588||3,694|
|In € million||2021||2020|
|DISCLOSURES RELATING TO THE INCOME STATEMENT|
|Profit/loss before financial result||4,457||3,174|
|Profit/ loss after tax||3,596||2,560|
|thereof from continuing operations||3,596||2,560|
|thereof from discontinued operations||--||--|
|Other comprehensive income||174||169|
|Total comprehensive income||3,770||2,729|
|Group dividend income||--||379|
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.
In 2019, the BMW Group sold over 2.5 million passenger vehicles and more than 175,000 motorcycles worldwide. The profit before tax in the financial year 2019 was € 7.118 billion on revenues amounting to € 104.210 billion. As of 31 December 2019, the BMW Group had a workforce of 126,016 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.
Brilliance Auto Group Holdings Co. Ltd (hereinafter referred to as “Brilliance Auto Group”) is a Chinese automobile manufacturer headquartered in the city of Shenyang. It is a major state-owned enterprise under the administration of the State-owned Assets Supervision and Administration Commission of Liaoning Province. The history of Brilliance Auto Group can be traced back to the state-owned Northeast Highway Administration Automobile Repair and Manufacturing Plant, which was established in 1949. In 1959, the renamed Shenyang Automobile Manufacturing Plant trial produced five “Julong” branded lorries and began a new chapter of vehicle manufacturing in Shenyang.
With 46,000 staff and total assets of over 190 billion RMB, Brilliance Auto Group owns six vehicle manufacturing companies, two engine manufacturing companies and multiple parts manufacturing companies in Liaoning, Sichuan and Chongqing. It has four listed companies (Brilliance China Automotive Holdings Co., Ltd., Shanghai Shenhua Holdings Co., Ltd., Jinbei Automotive Co., Ltd. and Xinchen China Power Holdings Co., Ltd.) and more than 160 wholly-owned, holding and shareholding companies. It has established CKD factories in partner countries as part of China’s Belt and Road Initiative.
Brilliance Auto Group specializes in R&D, manufacturing and sales of automobiles, drivetrains and core parts, as well as the automotive aftermarket business. It is also involved in other industries including auto financing and alternative energy (wind power and other renewable energies). Brilliance Auto Group has two nationally certified enterprise technology centers, a national certified lab and a post-doctoral mobile workstation. It is capable of forward engineering throughout the whole process from complete vehicle styling, vehicle design to engineering development and pilot production and testing of prototype vehicles. The company also designs and develops drivetrains and other core automotive parts independently. It has three wholly-owned local vehicle brands: “Zhonghua”, “Jinbei” and “Huasong”; and two joint venture brands: “BMW Brilliance Automotive” and “Renault Brilliance”. Brilliance Auto Group produces a full range of passenger cars and commercial vehicles.
Brilliance Auto Group is committed to reform, innovation and open cooperation to facilitate its corporate transformation and high-quality development. It is dedicated to becoming an innovative and competitive automobile group with a global reputation.