Brilliance China Auto Aktie WKN: 884968 - Favorit 2015 (Dt.Bank) $$$

[JohnJohnson]

[b]Brilliance China Auto Aktie WKN: 884968 - Favorit 2015 (Dt.Bank) $$$
ISIN: BMG1368B1028
Symbol: BCAUF
Typ: Aktie

chines. auto-favorit 2015 (Dt. Bank)



Brilliance China Auto Aktie & Unternehmen
Branche Automobilhersteller
Herkunft China
Website
Indizes/Listen DAXglobal China Automotive EUR, DAXglobal China EUR, DAXglobal China Urbanization EUR
Aktienanzahl 5.026 Mio. (Stand: 12.02.14)
Marktkap. 6,53 Mrd. €

chines. auto-favorit 2015 (Dt. Bank)

Citi ups Brilliance China Auto (01114) to HK$17

Brilliance China Auto Aktie
WKN: 884968
ISIN: BMG1368B1028
Symbol: BCAUF
Typ: Aktie





[ET Net News Agency, 12 January 2015] Citi Research raised its target price for
Brilliance China (01114) to HK$17 from HK$12, and upgraded the stock to "buy" from "sell".
The research house said its previous concerns on back-loaded expenses, rising
competition and volume growth slowdown has been reflected in the previous six-month
share-price decline, but euro depreciation can help reduce component costs and enhance
product price competitiveness, and the secular consumption upgrade story remains solid,
supporting long-term growth.
Citi believes the long-time consumption upgrade story remains solid for these
entry-level premium cars, with Chinese incomes rising in RMB, and rising even faster if
measured in euro.
Though 2015 will be relatively weak in the model cycle, the 2015-17 pipeline with
2-series, possibly 1-series, X3 SUV, new X1 and new 5-series still points to long-term
growth potential for BMW Brilliance JV, justifying its valuation premium (11.3x target
2015E P/E) versus industry peers (8x), the research house noted. (KL)




Weil China im internationalen Vergleich noch untermotorisiert erscheint, wird von den Aktien der chinesischen Autobauer besonders viel erwartet. Die hohe Erwartungshaltung f

[JohnJohnson]

[b]Brilliance China Automotive November Sales: A Brilliant Month
Dec. 15, 2014 12:52 AM ET | about: Brilliance China Automotive Holding Ltd. ADR (BCAUY)

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Summary

BCA reported November shipments at +44% y/y driven by BMW sales.
5-Series extends steady growth, while X1 and 3-series are seeing demand pick up.
7.5x FY15E P/E is the lowest in the sector.

Event

Brilliance China Automotive (OTCPK:BCAUY) reported its November wholesale data with shipments up a whopping +44%. Retail sales of locally produced BMW saw +48% y/y growth in shipments. Clearly, everyone in China wants a BMW. BCA's November shipments data is consistent with that reported by Tata Motors (NYSE:TTM) on the demand of its JLR units in China (See: Tata Motor 2Q15 Review: Sprint Like A Jaguar).

5-Series demand continues to be strong, but most importantly the 3-Series and the X1 compact SUV are seeing stronger demand as middle class individuals with more disposable income are buying into entry-level luxury models, which should continue to support the growth within the luxury segment. Finally, incentives remain low on the models, which bodes well for pricing power. I reiterate my overweight position on BCA.
Highlights

5-Series remains the bread and butter. 5-Series volume grew +32% y/y to 11.8k units and accounted for just under half of the total volume. YTD volumes was up +13% y/y driven by solid new and replacement demand from Tier 1 and upper Tier 2 cities. The 5-series remains the popular brand among the newly rich and the entrepreneurs in China, and I expect the demand to remain sustainable heading into the Chinese New Year.

Entry-level models seeing strong momentum. The entry-level 3-series and X1 compact SUV continue to see strong demand from first-time luxury car buyers. The demand for X1 compact SUVs is consistent with the read-through we have seen in the other domestic OEMs on car buyers' preference towards compact SUVs rather than the larger models due to parking space constraint and fuel efficiency concerns for urban settings. Moreover, the capacity expansion in Tianjin last year also allowed for higher sell-through. 3-Series volume was up +49% y/y to 7.6k units while the X1 volume was up +75% y/y to 4.4k units, highlighting the strong demand for compact sedans and SUVs.

Channel destocking remains. BMW branded vehicle delivery was up +12% y/y driven mostly by the locally made models (+48% y/y). Retail growth of +48% suggests that channel destocking remains, a trend that we have witnessed since August.

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[JohnJohnson]

Brilliance China Auto: Code 1114 via HongKoinbg Exchanges:

[JohnJohnson]

[JohnJohnson]

Brilliance China Auto - Sehr Brilliant $

[JohnJohnson]

Citi ups Brilliance China (01114) to HK$17



[ET Net News Agency, 12 January 2015] Citi Research raised its target price for
Brilliance China (01114) to HK$17 from HK$12, and upgraded the stock to "buy" from "sell".
The research house said its previous concerns on back-loaded expenses, rising
competition and volume growth slowdown has been reflected in the previous six-month
share-price decline, but euro depreciation can help reduce component costs and enhance
product price competitiveness, and the secular consumption upgrade story remains solid,
supporting long-term growth.
Citi believes the long-time consumption upgrade story remains solid for these
entry-level premium cars, with Chinese incomes rising in RMB, and rising even faster if
measured in euro.
Though 2015 will be relatively weak in the model cycle, the 2015-17 pipeline with
2-series, possibly 1-series, X3 SUV, new X1 and new 5-series still points to long-term
growth potential for BMW Brilliance JV, justifying its valuation premium (11.3x target
2015E P/E) versus industry peers (8x), the research house noted. (KL)

[JohnJohnson]

[b]Brilliance China Auto Aktie WKN: 884968 - Favorit 2015 (Dt.Bank) $$$
ISIN: BMG1368B1028
Symbol: BCAUF
Typ: Aktie

chines. auto-favorit 2015 (Dt. Bank)



Brilliance China Auto Aktie & Unternehmen
Branche Automobilhersteller
Herkunft China
Website
Indizes/Listen DAXglobal China Automotive EUR, DAXglobal China EUR, DAXglobal China Urbanization EUR
Aktienanzahl 5.026 Mio. (Stand: 12.02.14)
Marktkap. 6,53 Mrd. €

chines. auto-favorit 2015 (Dt. Bank)

Citi ups Brilliance China Auto (01114) to HK$17

Brilliance China Auto Aktie
WKN: 884968
ISIN: BMG1368B1028
Symbol: BCAUF
Typ: Aktie



[ET Net News Agency, 12 January 2015] Citi Research raised its target price for
Brilliance China (01114) to HK$17 from HK$12, and upgraded the stock to "buy" from "sell".
The research house said its previous concerns on back-loaded expenses, rising
competition and volume growth slowdown has been reflected in the previous six-month
share-price decline, but euro depreciation can help reduce component costs and enhance
product price competitiveness, and the secular consumption upgrade story remains solid,
supporting long-term growth.
Citi believes the long-time consumption upgrade story remains solid for these
entry-level premium cars, with Chinese incomes rising in RMB, and rising even faster if
measured in euro.
Though 2015 will be relatively weak in the model cycle, the 2015-17 pipeline with
2-series, possibly 1-series, X3 SUV, new X1 and new 5-series still points to long-term
growth potential for BMW Brilliance JV, justifying its valuation premium (11.3x target
2015E P/E) versus industry peers (8x), the research house noted. (KL)




Weil China im internationalen Vergleich noch untermotorisiert erscheint, wird von den Aktien der chinesischen Autobauer besonders viel erwartet. Die hohe Erwartungshaltung f

[JohnJohnson]

[b]Brilliance China Auto Aktie WKN: 884968 - Favorit 2015 (Dt.Bank) $$$

ISIN: BMG1368B1028
Symbol: BCAUF
Typ: Aktie

Via Hongkong= Code 1114

chines. auto-favorit 2015 (Dt. Bank)



Brilliance China Auto Aktie & Unternehmen
Branche Automobilhersteller
Herkunft China
Website
Indizes/Listen DAXglobal China Automotive EUR, DAXglobal China EUR, DAXglobal China Urbanization EUR
Aktienanzahl 5.026 Mio. (Stand: 12.02.14)
Marktkap. 6,53 Mrd.

[JohnJohnson]

Brilliance China Auto $ Brilliance China December 2014 Shipments: Concluding A Brilliant Year $$$$$$$$$$$$

Jan. 12, 2015 2:17 AM ET | about: Brilliance China Automotive Holding Ltd. ADR (BCAUY)

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Summary
BCA released BMW shipments of +30% growth in December and +35% for the year.
X1 compact SUV remains the best seller while the 5-Series continues to drive double digit growth.
Valuation is attractive at 8x FY15 P/E. I remain buyer of the name.
Event
Brilliance China Automotive (OTCPK:BCAUY) released its sales for BMW Brilliance JV that saw total shipment growth of +30% y/y to 22.2k units for December. For the full-year, unit shipments of 278.5k was a +35% y/y increase that handily beat the full-year target that the company set in the start of last year. Most notably, X1 SUV was the star performer given its attractive pricing, SUV functionality and sports appeal. In addition, the 3-Series continued its momentum with +54% y/y growth in 2014 as newly minted wealthy Chinese trade up to the entry-level luxury models. Finally, the 5-Series delivered a +12% growth despite a higher base. In short, BCA BMW continues to benefit from China's emerging wealth and the 2016-2018 pipeline looks feasible for maintaining this growth momentum. I maintain my overweight outlook on the name.
Highlights
Zoom, zoom, zoom. Yes I know it belongs to Mazda, but the X1 sales certainly zoomed past analyst expectations with a +115% y/y shipment increase in December despite the emerging competition from the Audi Q3 compact SUV, which speaks positively on BAC-BMW's execution and brand positioning. Besides the X1, the 3-Series also fared well with +54% growth for the year to 93.7k units. (December sale was up +42%). The 3-Series benefited from the increase in local capacity and the increase usage in auto financing that was driven mostly by replacement demand. I expect this trend to be consistent as buyers trade up or replace their existing model for a brand name that empowers both performance and luxury.
5-Series continues to remain relevant. Despite the higher base, the 5-Series posted a +12% growth to 138.2k units. At the end of 2014, the 5-series accounts for less than half of BCA's total mix as 3-series gains ground. In my view, this shouldn't be concerning in that new demand for the 5-series could come from lower-tier cities where buyers have higher savings rate, prefer cash payment and focus more on comfort and size when making car purchasing decision.

[JohnJohnson]

Brilliance China Automotive & BMW Group Joint Venture $

in PDF

[JohnJohnson]

Brilliance China Automative & BMW Joint Venture

[JohnJohnson]

[JohnJohnson]

[JohnJohnson]

[b]BMW to Make More Models in China After Extending Pact
By Bloomberg News Jul 16, 2014 4:45 AM PT



Bayerische Motoren Werke AG (BMW), the world

[JohnJohnson]

[b]Chinas Automobilindustrie in voller Fahrt

PwC-Studie: Anspruchsvolle Konsumenten, nachhaltige Entwicklungspolitik - Chinas Automobilindustrie in voller Fahrt
PwC-Studie: Automobilindustrie und Mobilit