BUZZ-Brilliance China Automotive sinks to 5-month low as chairman quits

Reuters
2024-09-12

** Shares of Brilliance China Automotive Holdings Ltd

drop as much as 11.2% to HK$2.62, their lowest since April 5, and on course for a fifth consecutive session of fall

** Stock on track for the biggest one-day pct decline since Feb 6, if trend holds

** The Chinese vehicles maker says Wu Xiao An has tendered his resignation as an executive director of the company and chairman of the board with effect from Sept 11 due to his other commitment

** Co says it is in the process of identifying a suitable candidate to be appointed as the authorised representative

** BMW holds 75% of BMW Brilliance Automotive via a joint venture with Brilliance China Automotive

** Hang Seng Commerce & Industry Index adds 0.9% and Hang Seng Index climbs 0.8%

** Brilliance China stock up 73.6% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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