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China's NEV Retail at 260,000 in Apr 1-14, up 2% From Same Period Last Month
China's retail penetration of NEVs was 50.39 percent in April 1-14, and 38 percent year-to-date.
[Broker Focus] J.P. Morgan takes the target price of 37.5% for Huachen China (01114) with an “increase” rating
Jinwu Financial News | According to J.P. Morgan Chase Research Report, Brilliance China (01114) announced another special dividend of HK$1.5 per share and said it will consider further dividends in 2024. Based on the closing price of April 15, the yield is 20%. The total dividend for 2024 is expected to be higher than Motong's original forecast of HK$2 per share. The bank expects Brilliance China to continue to pay dividends after selling 25% of BMW Brilliance's shares in 2018, and the company will also receive a cash dividend of RMB 11.2 billion from BMW Brilliance in the fourth quarter of 2023. Therefore, the cash ratio on Brilliance's balance sheet
Damo: Brilliance China announced a special interest rate of 1.5 yuan per share, which is slightly positive but generally reflected
Morgan Stanley released a research report saying that Brilliance China (01114) declared a special dividend of 1.5 yuan per share. The payout ratio is generally in line with expectations. Although it is slightly positive for the market, it is generally reflected.
Auto stocks are under pressure across the board, Nio (09866) falls 10.38%, Tesla plans to lay off 10% of global employees, and the car market price war is still intense in April
Auto stocks were under pressure across the board. NIO (09866) fell 10.38%, BAIC (01958) fell 4.82%, Ideal Auto (02015) fell 4.82%, Zero Sports (09863) fell 4.68%, Xiaopeng (02333) fell 4%, Evergrande (00708) fell 3.93%, and Brilliance China (01114) fell 3.67%.
Citi: Increase the target price of the “buy” rating to HK$10.02 for Brilliance China (01114)
The Zhitong Finance App learned that Citi released a research report saying that Brilliance China (01114) declared a special dividend of 1.5 yuan per share. Considering that the company may pay 2 to 3 dividends this year according to previous guidelines, and management promised that the total level of dividend payments for the 2024 fiscal year was higher than the previous fiscal year, it is believed that the special interest issued by the company was higher than market expectations. The bank expects Brilliance to pay a further special dividend of $2 for the rest of the year and raise the group's target price from HK$9.52 to HK$10.02, with a “buy” rating.
Changes in Hong Kong stocks | Brilliance China (01114) is now down more than 6%, declaring a special interest rate of HK$1.5 per share, and most of the proceeds from the sale of BMW Brilliance's shares has already been distributed
Brilliance China (01114) fell more than 6% in early trading. As of press release, it was down 3.67% to HK$7.08, with a turnover of HK$109 million.
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