HK Stock Market Move | Hua Chun China (01114) fell over 6% in the late trading session, with net profit expected to decline by as much as 56% in the first half of the year. Citibank remains optimistic about the company's dividend payout.

Brilliance China Automotive Holdings Limited (01114) fell over 6% towards the end of the trading session, currently down 6.16%, priced at HKD 2.21, with a trading volume of HKD 77.968 million. In terms of news, Brilliance China previously issued a profit warning, expecting that its unaudited pre-tax profit for the first half of the year would decline by no more than 61% year-on-year, while post-tax profit and profit attributable to equity holders of the parent company are expected to decline by no more than 56% year-on-year. This is mainly due to a significant contraction in investment income from associated companies and joint ventures; interest income for the period also decreased year-on-year. Citi released a research report stating that Brilliance China's expected net profit for the first half of the year is expected to decline by up to 56%, in line with the bank's expectations. The bank maintains a "Buy" rating for the company, with a target price of HKD 2.7. It is expected that Brilliance China will pay a dividend of HKD 0.8 per share in the third quarter, amounting to RMB 3.5 billion, which is approximately 50% of its cash reserves.