Brilliance China Announces Amount of Semi-annual Cash Dividend
6 October 1999
Brilliance China Automotive Holdings Limited Announces Amount of Semi-annual Cash DividendHONG KONG, Oct. 6 -- Brilliance China Automotive Holdings Limited (the "Company") today announced the amount of the semi-annual cash dividend that was previously announced on September 17, 1999. The amount of such cash dividend has been adjusted from the previously announced amount of US$0.027 per share to US$0.0054 per share to reflect the recent issuance by the Company of four bonus shares for each share held. This cash dividend will be paid on November 3, 1999 to holders of record as of the close of trading on October 15, 1999. The Company, incorporated in Bermuda, was established in 1992 to own a 51% interest in Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd. ("Shenyang Automotive"), a Sino-foreign joint venture enterprise established in 1991. Shenyang Automotive, located in Shenyang, the capital of Liaoning Province and the commercial center of the northeastern region of China, is the leading manufacturer and distributor of minibuses in the People's Republic of China. In May 1998, the Company acquired an indirect interest in two component suppliers: a 51% equity interest in Ningbo Yuming Machinery Industrial Co., Ltd., a wholly foreign-owned Chinese enterprise primarily engaged in the production of automobile window molding and stripping; and a 50% equity interest in Mianyang Xinchen Engine Co., Ltd., a Sino-foreign equity joint venture manufacturer of gasoline engines for use in passenger vehicles and light duty trucks. In October 1998, the Company established Xing Yuan Dong Automotive Component Co., Ltd. as its wholly owned subsidiary to centralize and consolidate the sourcing of auto parts and components for Shenyang Automotive. The Company was the first with operations solely in China to list directly on the New York Stock Exchange.