Shenyang Brilliance Automotive Co. Ltd. says it lost RMB825 million ($100 million) in 2001, down from a net profit of RMB257.8 million ($31.1 million) in 2000. Shenyang attributes the red ink to large provisions for account receivables as well as a RMB78.3 million ($9.5 million) loss at its joint venture with General Motors Corp., Jinbei GM Automotive Co. Ltd. In total, Jinbei GM lost RMB156.5 million ($19 million) in 2001. Shenyang Brilliance says Jinbei GM’s losses were the result of a ...
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