Brilliance China Automotive Holdings (HK:1114) has released an update.
Brilliance China Automotive Holdings Limited warns of a significant profit drop, expecting a 60% decrease in unaudited profit after tax for the first half of 2024 compared to the same period in 2023. The anticipated slump is mainly attributed to the underperformance of its major associate, BMW Brilliance Automotive Ltd., and a hefty withholding tax on dividends. Investors are advised to exercise caution when dealing in the company’s shares.
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