Summary by Futu AI
Brilliance China's unaudited comprehensive interim financial performance for the first half of 2024 shows that revenue increased by 2% compared to the same period last year, reaching 51.80 billion yuan, but gross profit decreased by 27.2% to 10.36 billion yuan. Financial costs decreased by 20% to 0.8 billion yuan. Share of profits in associated companies decreased by 27.3% to 27.347 billion yuan, mainly due to the decline in Brilliance BMW's performance. Net profit for this period was 14.65637 billion yuan, a 60.9% decrease from the same period last year. Basic earnings per share were 0.29201 yuan. Brilliance BMW launched new models of automobiles in the Chinese market and focused on the electric vehicle market. Brilliance China's automotive finance in East Asia is facing market challenges and is implementing multiple measures to address them. In the first half of 2024, the company invested approximately 1.34 billion yuan in Brilliance Renault, regained control, and plans to relocate from existing factories and office properties, with compensation expected by 2025 totaling around 4514 million yuan.
