Thanks BMW! Brilliance China's 2019 net profit up 16.18%

A few days ago, according to the 2019 annual performance report released by BMW Brilliance, the net profit attributable to shareholders of the company in 2019 was 6.762 billion yuan, which was a year-on-year increase of 16.18% compared with 5.822 billion yuan in 2018.

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However, Brilliance China's earnings and gross profit have shown a downward trend. Among them, revenue fell 11.77% year-on-year to 3.862 billion yuan, and gross profit fell 74.04% year-on-year to 74 million yuan.

It is worth noting that Brilliance China's profit growth in 2019 can not be separated from the joint venture company BMW Brilliance's performance and sales growth.

According to the financial report, the net profit and sales of BMW Brilliance in 2019 were 7,626 million yuan and 545,900 vehicles, respectively, an increase of 22.1% and 17.1% year-on-year. Brilliance China claims that the BMW X3 is the main reason for the increase in BMW Brilliance sales.

If excluding BMW Brilliance's net profit, Brilliance China's 2019 net profit loss will reach 1.064 billion yuan. It can be said that without the joint venture of BMW Brilliance, Brilliance China is estimated to be difficult to survive.

Brilliance China said that with the new crown pneumonia epidemic being effectively controlled, BMW Brilliance's plant has resumed work and resumed production. BMW Brilliance's new car plan in 2020 has not been greatly affected. According to the plan of the Security Group, 17 products will be launched in the Chinese market in 2020. The small modified BMW 5 Series and the first pure electric iX3 will be available in the second half .