Brilliance China Automotive Holdings (HKG:1114) expects a 60% year-over-year decline in after-tax profit for the six months ended June 30, a Tuesday bourse filing said.
The automobile maker attributed the lower profit mainly to a drop in the performance of its major associate, BMW Brilliance Automotive, as well as a 1.47 billion yuan withholding tax on dividend paid by subsidiaries.
Shares of the company closed nearly 4% lower on Wednesday.
Price (HKD): $3.86, Change: $-0.14, Percent Change: -3.50%
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