Changes in Hong Kong stocks | Brilliance China (01114) fell more than 6% at the end of the session, net profit is expected to drop to the highest in the first half of the year 56%, and Citi is still optimistic about the company's dividends

The Zhitong Finance App learned that Brilliance China (01114) fell more than 6% at the end of the session. As of press release, it fell 6.16% to HK$2.21, with a turnover of HK$779.68 million.

According to the news, Brilliance China previously issued a profit warning. Unaudited profit before tax is expected to drop no more than 61% year on year in the first half of the year, and profit after tax and profit attributable to parent company holders are not expected to drop by more than 56% year on year. Investment income contracted significantly, mainly due to joint ventures and joint ventures; current interest income declined year-on-year.

Citigroup released a research report saying that Brilliance China's net profit is expected to drop by up to 56% year-on-year in the first half of the year, which is in line with the forecast. The bank maintained the company's “buy” rating, with a target price of HK$2.7. The bank expects Brilliance China to pay HK$0.8 per share in the third quarter, involving an amount of RMB 3.5 billion, which is equivalent to about 50% of its cash reserves.