Citi released a research report indicating that Brilliance China (01114) is expected to see its first-half net profit drop by up to 56% year-on-year, aligning with the bank's forecasts.
The bank maintains its 'Buy (High Risk)' rating on the company with a target price of HK$2.70.
Citi projects that Brilliance China will distribute a dividend of HK$0.80 per share in the third quarter, amounting to RMB 3.5 billion, which represents approximately 50% of its cash reserves.
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