Brilliance China Automotive Holdings Ltd

01114: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 2.10	Hcsh	Tjsfg

Brilliance Earnings: Strong BMW Contribution; Management Indicates Favorable Dividend Outlook

Vincent Sun

Apr 2, 2024

No-moat Brilliance announced 2023 annual results with better-than-expected profitability at BMW Brilliance Automotive, or BBA, the 25%-owned associate with BMW. For the second half of 2023, Brilliance reported a net profit of CNY 4.0 billion, flattish compared with a year ago, with 10% growth in BBA's earnings contribution offset by income tax expense.

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