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Chinese automaker best known for its former joint venture with BMW (BMW Brilliance), producing BMW-brand vehicles in China.
Chinese automaker best known for its former joint venture with BMW (BMW Brilliance), producing BMW-brand vehicles in China.
Most of its profit comes not from selling cars itself but from its share of earnings in the BMW venture, recorded as equity income instead of sales, and from dividends paid out. Since 2022 BMW has held the majority of that venture and Brilliance's share is smaller. Jinbei-brand vans and minibuses are the other operating business.
In one line: The Chinese JV partner behind BMW's China manufacturing.
Moat: narrow (regulatory licence, brand). Historic JV partnership with BMW gave access to a premium brand, though BMW has since increased its own stake, diluting Brilliance's economic interest.
Headquarters: Shenyang, China · Founded: 1992 · Employees: 2,080
Size Brilliance China Automotive (1114.HK) is a Hong Kong Consumer Discretionary company (Motor Vehicles) with a market value of $1.15B, the 565th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.79 on 6 Nov 2026.
Performance Over six months the shares fell 40.3%, against -8.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 17.8% over the last twelve months (peer median +8.0%); the operating margin is -30.2% (peer median 5.0%).
Valuation It trades at 6.0× forward earnings against a peer median of 16.5× (cheapest of 13).
Capital Return on invested capital runs 11.0 points below its cost of capital (9.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.45B | HK$1.28B | HK$1.19B | HK$1.24B | HK$1.31B |
| Revenue growth | — | +8% | -4% | -6% | — |
| Gross profit | HK$154M | HK$177M | HK$210M | HK$319M | HK$274M |
| EBITDA | -HK$294M | -HK$270M | HK$33.4M | -HK$354M | -HK$721M |
| Net income | HK$1.20B | HK$2.15B | HK$3.36B | HK$8.55B | HK$8.31B |
| Free cash flow | n/a | HK$3.68B | HK$7.90B | -HK$1.10B | HK$1.45B |
| Capital expenditure | n/a | HK$334M | HK$156M | HK$73.0M | HK$53.1M |
| Total debt | n/a | HK$127M | HK$481M | HK$1.05B | HK$440M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Brilliance China Automotive 1114.HK | $1.15B | -40% | +18% | -30% | 6.0× | n/a |
| SAIC Motor 600104.SS | $17.8B | -24% | -3% | 2% | 11.9× | -14.7% |
| Great Wall Motor 2333.HK | $15.7B | -48% | +13% | 2% | 5.9× | -5.1% |
| Geely Auto 0175.HK | $20.1B | -34% | +27% | 4% | 6.5× | -9.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1114.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.0% | -3.3% | 5th highest of 21 |
| 6-month return | -40.3% | -8.7% | 3rd lowest of 20 |
| Distance from 52-week high | -59.8% | -37.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +17.8% | +8.0% | 7th highest of 21 |
| Operating margin | -30.2% | 5.0% | 2nd lowest of 21 |
| Forward P/E | 6.0× | 16.5× | cheapest of 13 |
| ROIC minus cost of capital | -11.0 pp | -2.5 pp | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Brilliance China Automotive 1114.HK | Hong Kong | $1.15B | -40% | +18% | -30% | 6.0× | n/a | n/a |
| Tianrun Industry Technology 002283.SZ | China | $1.14B | -39% | +31% | 9% | 16.0× | 6.1% | -1.7% |
| Tianjin FUJI-TA Bicycle Industrial 603468.SS | China | $1.19B | n/a | +3% | 8% | n/a | 13.5% | +4.9% |
| Aerosun 600501.SS | China | $1.10B | -28% | +10% | -5% | n/a | n/a | n/a |
| Giant Manufacturing 9921.TW | Taiwan | $1.06B | +29% | -15% | 2% | 18.1× | 1.3% | -3.0% |
| Lucid LCID | United States | $1.30B | -48% | +67% | -259% | n/a | n/a | n/a |
| Xiamen King Long Motor 600686.SS | China | $967M | -42% | -3% | 2% | 9.1× | -1.1% | +12.0% |
| Sanyang Motor 2206.TW | Taiwan | $1.43B | +8% | -3% | 8% | n/a | 1.2% | +9.0% |
| Breton Technology 1333.HK | Hong Kong | $915M | +5% | +16% | -24% | n/a | n/a | n/a |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 19.5× | 2.1% | -23.6% |
| Zhejiang Qianjiang Motorcycle 000913.SZ | China | $896M | -16% | 0% | 2% | 17.2× | n/a | n/a |
| Olectra Greentech OLECTRA.NS | India | $891M | -19% | +38% | 12% | 23.7× | n/a | n/a |
| Guangdong Lvtong New Energy Electric Vehicle Tech 301322.SZ | China | $869M | +5% | +63% | -3% | n/a | n/a | n/a |
| Dongfeng Automobile 600006.SS | China | $1.53B | -24% | -5% | -13% | n/a | n/a | n/a |
| China Motor 2204.TW | Taiwan | $867M | -4% | +6% | 4% | 8.4× | 3.7% | +0.8% |
| Aebi Schmidt AEBI | United States | $867M | -3% | +49% | 6% | 11.3× | 11.9% | n/a |
| Piaggio & C PIA.MI | Italy | $862M | +24% | -5% | 7% | 17.0× | 2.6% | +2.7% |
| Yulon Motor 2201.TW | Taiwan | $860M | -1% | -8% | 8% | 12.6× | 14.9% | -2.6% |
| Zhongtong Bus 000957.SZ | China | $857M | -18% | +6% | 6% | 11.6× | -16.1% | +10.7% |
| Xuzhou Handler Special Vehicle 300201.SZ | China | $1.64B | -9% | +18% | 22% | 22.5× | 22.0% | -3.3% |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | n/a | 23.6% | +36.9% |