Brilliance China Automotive Holdings Ltd, said yesterday it will lose money in the 2005 fiscal year.

The group, which manufactures Jinbei minibuses and Zhonghua sedans, will release its 2005 results in April.

Hong Kong-listed Brilliance said falling automobile prices, rising global fuel prices, a production oversupply and intense competition in the Chinese mainland's auto industry have hurt the company's bottom line.

The company reported a loss of 299 million yuan (US$37.4 million) in its half-year report ending in June. Net profit in 2004 fell 95 percent to 48.6 million yuan compared to the previous year.

"The core business of Brilliance is the minibus, but it needs to expand its vehicle unit, which has only two brands," Li Jian, analyst at Xiangcai Securities Co, said yesterday.