After meeting with the management of Brilliance China, CLSA has raised its target price for the stock by 35% from $3.7 to $5 and its forecast on the sales of BMW vehicles by the company for 2004 by 40% to 10,000-14,000 units. The brokerage firm rates Brilliance China Outperform. 8.1.2004 KZ auf $5 angehoben !
4.2.2004 Brilliance China Automotive's (1114) core production unit Shenyang Brilliance JinBei Automobile Co., Ltd. (Shenyang Automotive) saw its sales breaking the 100,000-vehicle mark for the first time last year. Including the BMWs produced by the joint venture BMW Brilliance, total sales totaled to 104,218 vehicles for 2003.
74,618 JinBei minibuses were sold last year, up 14.55%. Sales of Zhong Hua sedans amounted to 25,600 vehicles in 2003, and the total sales since its launching less than 1 1/2 years ago amounted to 34,000 vehicles.
Kapitalerhöhung geplant?Denway Motors: A market source says that Denway Motors (0203) is going to place shares at $7.9 per share through Morgan Stanley. Denway now stands at $8.6, down 1.149%, on a turnover of $170.8 million.
doppelte Produktion angestrebt:Denway Motors' (0203) Guangzhou Honda Automobile announced that in order to enhance its annual production capacity to 240,000 vehicles, it has embarked a 18-day reform to speed up production procedures starting from January 21. Guangzhou Honda expects that after the reform, its daily output will be doubled to over 20,000 vehicles in July, and the time needed to make a vehicle will be shortened from 103 seconds to 50 seconds.
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