It is understood that Brilliance East Asia Auto Finance Co., Ltd. has recently obtained approval from the regulatory authorities and is allowed to officially open.
Huachen East Asia was established in Shanghai and was jointly funded by Leading Finance Co., Ltd., Finconsum EFC, SA, and Brilliance China [4.29%] Automotive Holdings Limited. At the beginning of the opening of Brilliance East Asia, it will provide different products and services, and will focus on providing auto dealers with vehicle loans, as well as personal and corporate car loans. In addition, according to the business scope approved by the China Banking Regulatory Commission, Brilliance East Asia can also provide auto financing leasing services and engage in consulting and agency services related to car financing activities.
The three-party shareholder structure of Brilliance East Asia is: Brilliance China holds 55%, and FinConsum and Lead Finance each hold 22.5%. In addition to the auto finance business, the three-party shareholders will continue to further research and explore business cooperation opportunities in other related fields.
It is understood that FinCosum is wholly owned by the Spanish Commercial Bank, and the Spanish Commercial Bank is also one of the major shareholders of the Bank of East Asia [-1.06%].
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