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Soccer-Marinos Made To Wait As Shanghai Defeat Japanese Side

2020-12-30T13:02:41Z

LatanyaBaeza4:

By Michael Church HONG KONG, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] Nov 28 (Reuters) - Yokohama F Marinos were made to wait to confirm their place in the knockout rounds of the Asian Champions League on Saturday after the Japanese side fell to a 2-1 defeat at the hands of Shanghai SIPG in Doha. Victory would have confirmed progress to the last 16 for [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] Ange Postecoglou´s side from group H, but goals from Cai Huikang and Ricardo Lopes meant the Chinese Super League side picked up the three points. Shanghai are now level on nine points with Yokohama, with both teams five points ahead of Jeonbuk Motors with two rounds of [http://www.fin24.com/Search/News?queryString=matches%20remaining matches remaining]. SIPG´s win means Australian champions Sydney FC are eliminated. SIPG captain Cai gave his side the lead after 14 minutes with a close-range header only for Ado Onaiwu to level seven minutes later with a shot that squirmed under Shanghai goalkeeper Chen Wai. But Lopes claimed the winner 10 minutes into the second half when he received a return pass from substitute Oscar before sending his shot beyond Obi Powell Obinna. Earlier in the day, two-time champions Guangzhou Evergrande moved to within one win of the next round as Fabio Cannavaro´s side handed Vissel Kobe a 2-0 defeat in group G three days after losing to the Japanese side. Anderson Talisca´s penalty gave Guangzhou the lead before Elkeson fired his free kick into the top corner of Hiroki Iikura´s goal to earn the Chinese side victory over already-qualified Kobe. "Everybody fought a lot and at last we managed to get the victory, so we´re happy for the team," said Guangzhou´s Mei Fang. A win against South Korea´s Suwon Bluewings on Tuesday will take the 2013 and 2015 champions into the next round alongside their Japanese counterparts. Group G features three teams after Johor Darul Ta´zim were not allowed to travel for the competition by the Malaysian government due to [https://www.biggerpockets.com/search?utf8=%E2%9C%93&term=restrictions restrictions] to tackle the COVID-19 pandemic. They are the only club not in Doha for the resumption of play after the format was switched to a centralised set-up. Play in the group stages will continue until Dec. 4, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] with the knockout rounds starting on Dec. 6 and the final on Dec. 19. Iranian champions Persepolis have already qualified for the decider after progressing through a similar competition for teams from the west of the continent in October. (Reporting by Michael Church, Editing by Hugh Lawson)

Mercedes-Maybach GLS To Debut In China In Search Of Ultraluxury SUV Glory - Roadshow

2020-12-30T03:29:40Z

LatanyaBaeza4:

id="article-body" class="row" section="article-body"> Here comes the big fancy. Mercedes-Benz [/roadshow/make/bentley/ Bentley] and [/roadshow/make/rolls-royce/ Rolls-Royce] will be on high alert this week as [/roadshow/make/mercedes-benz/ Mercedes-Benz] and [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] its [/roadshow/make/maybach/ Maybach] division prepare a proper rival to their ultraluxurious SUV models. The [/roadshow/news/mercedes-maybach-gls-ultra-luxury-suv/ Maybach GLS] will debut this Thursday in China and it wants a crack at the high-roller utility vehicle segment. Mercedes-Benz teased the [http://www.cafemom.com/search/index.php?keyword=opulent%20SUV opulent SUV] in a tweet Tuesday, which shows the model's slightly reworked front end. It still very much looks like a [/roadshow/reviews/2020-mercedes-benz-gls-class-preview/ regular GLS], but a Maybach grille is in place. Boosting the image's brightness also showed a lower grille fascia with chrome mesh. Any other exterior changes remain hidden for now, but don't expect anything drastic. The new face of ultimate luxury Guangzhou Auto Show November 21, 2019[ #MercedesMaybach] [ #UltimateLuxury] [ #MBDesign] [ pic.twitter.com/sVNwfENrIc] — Mercedes-Benz (@MercedesBenz) [ November 19, 2019] window.CnetFunctions.logWithLabel('%c One Trust ', "Service loaded: script_twitterwidget with class optanon-category-5"); We don't know what's under the hood, but it's a safe bet that we'll see Mercedes' turbocharged 4.0-liter V8 engine. But none of that will matter much to the people who will buy the Maybach GLS -- the [http://search.usa.gov/search?affiliate=usagov&query=interior interior] will. Definitely expect some massive changes inside to make the SUV a lovely place to be. More focus on backseat passengers will surely be of high priority as well. To date, no German automaker has really challenged the space. Sure, there's the [/roadshow/reviews/2019-audi-q8-review/ Audi Q8] or [/roadshow/reviews/2019-bmw-x7-preview/ BMW X7], and [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] even the standard Mercedes-Benz GLS, but the [/roadshow/reviews/2019-bentley-bentayga-review/ Bentley Bentayga] and [/roadshow/reviews/2019-rolls-royce-cullinan-review/ Rolls-Royce Cullinan] are next-level stuff. Never mind [/roadshow/make/volkswagen/ Volkswagen] Group owns Bentley and [/roadshow/make/bmw/ BMW] owns Rolls-Royce. The Mercedes-Maybach GLS will take the fight directly to the two British [/roadshow/suvs/ SUVs]. And a fun fact: this will be the first Maybach model built in the US.

How Parent Of BMW apos;s China Partner Drove To The Brink Of Bankruptcy

2020-12-28T10:06:22Z

LatanyaBaeza4: Die Seite wurde neu angelegt: „ By Yilei Sun and Tony Munroe BEIJING, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour qu…“

By Yilei Sun and Tony Munroe BEIJING, [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] Nov 27 (Reuters) - In October 2003, the first China-made BMW 325i sedan rolled off a new production line owned by the German luxury brand [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] and its joint venture partner, Brilliance, a subsidiary of provincially owned automaker Huachen Group. It was a milestone for the iconic Bavarian marque, whose cars proved massively popular in what became the world's largest market. Over the next nearly two decades, the joint venture was a cash cow for both BMW and Huachen, which is run by the government of the northeastern rust-belt province of Liaoning. But this month, Huachen stands on the brink of bankruptcy, defaulting on 6.5 billion yuan ($987.48 million) in debt obligations. Chinese regulators have launched an investigation into possible violations of disclosure laws by the company. The defaults by Huachen and two other Chinese state-owned companies have angered investors, who say their faith in the firms' top-notch ratings, seemingly sound finances and implicit state backing has been violated. An examination of dozens of bond filings as well as interviews with former Huachen employees and experts shows how the carmaker squandered its advantage of having a gold-plated partner and was unable to leverage its know-how to develop competitive cars of its own. Some strategic missteps on the choice of models hurt it badly and an expansion into electric vehicles, funded by debt, came too late. "Management's key selling point to BMW to win the partnership was simple: as a smaller and weaker Chinese company, Brilliance will follow what BMW says without making trouble," said a person close to Brilliance's top management at the time, declining to be named given the sensitivity of the matter. Bigger state carmakers like SAIC Motor and Guangzhou Automobile Group were actively involved in their joint ventures and used the expertise of foreign partners to build stronger domestic brands. Huachen and its Hong Kong-listed Brilliance unit, which also has a joint venture with Renault SA, did not respond to requests for comment. BMW declined to comment for this story. BMW told Reuters last week that the JV's operations "are not directly affected by the payment difficulties" of the Huachen group. The German company has agreed to pay 3.6 billion euros ($4.2 billion) in 2022 for a further 25% stake in the venture with Brilliance, a deal brokered in 2018 by China's Premier Li Keqiang and German Chancellor Angela Merkel. Renault said its JV "is running normally". A court has accepted a restructuring application by creditors of Huachen, which employs over 40,000 people and has assets worth 190 billion yuan, including the BMW Brilliance tie-up. Huachen said in a filing that if it is not able to restructure, it will declare bankruptcy. Lou Weiliang, a Shanghai-based lawyer at Fangda Partners, said it was possible that all or part of Huachen's stake in China Brilliance could be sold to a third-party under a restructuring, with proceeds used to repay creditors. But nothing will be clear until a restructuring plan is announced, he said. 'DRAGON HEAD' As recently as May 13, in a call with nearly 90 investors, Huachen executives told creditors that money to repay debt due in the second half of the year had been "adequately arranged." Chief Accountant Gao Xingang said that as a "dragon head", or leading, automaker in Liaoning province, Huachen enjoyed strong local government backing, according to meeting minutes seen by Reuters. But at the end of September, one month before its bond delinquency, Huachen transferred its prize 30% stake in Brilliance to a subsidiary, making it harder for bondholders to access those assets. Investors cried foul. "After all, Huachen is a big state-owned company in Liaoning province, and we thought they had core assets including an attractive stake in the BMW joint venture," said Shanghai-based hedge fund manager Vincent Jin. BMW Brilliance sold a record 550,000 vehicles last year and made 7.6 billion yuan in profit, helping generate dividends of HK$1.8 billion ($232.17 million) for Huachen. In the early days of China's automotive boom, Huachen was a competitive player in its own right, selling more than 200,000 vehicles in 2013 under its Zhonghua, or "China" brand. "We thought we would be the first domestic carmaker to sell premium cars well in China," said a former Huachen executive who now works for another Chinese carmaker. But its competitors sped ahead while Zhonghua's domestic sales slumped to just 25,270 cars last year and only 5,312 in the first three quarters of 2020, according to consultancy LMC. Chinese rivals such as Geely and Great Wall developed stronger products and technology, while state-backed SAIC Motor and Guangzhou Automobile grew with the know-how of joint venture partners. Huachen, by comparison, used a scattershot approach to planning, with vehicles such as a mid-size sedan and compact SUV that were not complementary, said Yale Zhang, head of consultancy AutoForesight. "Zhonghua did not plan its products systematically," he said. "That made their products fail to meet the fast-changing market demand in China." MPV DEBACLE About a decade ago, consultants hired by Huachen warned it against plans to develop a premium MPV (multi-purpose vehicle), citing competition, an unclear outlook for the segment and Huachen's technology disadvantage compared with the popular Buick GL8 made by General Motors Co. Huachen, led by longtime Chairman Qi Yumin, formerly vice mayor [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] of the port city of Dalian, approved the Huasong project anyway. "Qi was too confident about his plans. Unlike officials with deep experience in the auto industry who tend to seek opinions from different departments, Qi made decisions on his own," one person familiar with Qi and Huachen management said. Qi, who retired last year, could not be reached for comment. Last year, Huachen sold just 1,184 Huasong MPVs, while GM sold around 150,000 GL8s in China. Efforts to freshen Huachen's portfolio helped lead to its current predicament. Fourteen bonds that Huachen has said it is unable to repay were issued between 2017 to 2020 to roll over debt, for working capital and to fund product upgrades and two plant projects. In one 7.5 billion yuan project, Huachen planned a revamp of a factory to be completed this year to create capacity for 100,000 vehicles, including 30,000 electric ones, based on a new car platform. The investment came way too late, as China's saturated electric vehicle market underwent a painful consolidation after Beijing cut generous purchase subsidies. By then, rivals like Geely and BYD had rolled out more sophisticated EV strategies. "Huachen missed the golden time when Chinese brands rose and all of a sudden it fell behind smaller rivals," the former Huachen executive said. As recently as August, Huachen Vice President Qi Kai, who is not related to Qi Yumin, told an industry conference that the group planned to sell around 1.95 million vehicles annually by the end of 2025, including 1 million from the [http://www.accountingweb.co.uk/search/site/BMW%20Brilliance BMW Brilliance] JV. Analysts call that target unrealistic. The group sold just 800,000 vehicles last year - the majority from the BMW Brilliance joint venture. ($1=7.7529 Hong Kong dollars) ($1 = 6.5824 Chinese yuan renminbi) (Additional reporting by Samuel Shen in Shanghai and Julie Zhu in Hong Kong; Editing by Raju Gopalakrishnan)

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2020-12-28T10:06:18Z

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