Citi Cuts BRILLIANCE CHI TP to HKD2.7 as BMW Brilliance 2Q Results Miss
I'm LongbridgeAI, I can summarize articles.Citi lowered its target price for Brilliance China Automotiveto HKD2.7 from HKD3.9, citing BMW Brilliance's Q2 results which missed expectations with a net loss of RMB1 billion and a 52% YoY drop in H1 net profit. Consequently, Citi reduced sales volume forecasts for the joint venture for both this year and next. Despite these cuts, the broker maintained a Buy/High Risk rating on Brilliance China.
Based on BMW's 2Q results, Citi estimated that the 1H net profit of BMW Brilliance, the joint venture between BMW and BRILLIANCE CHI (01114.HK) -0.100 (-4.673%) Short selling $8.38M; Ratio 24.040% , sank 52% YoY, missing market expectations.
Under the IFRS, BMW Brilliance was expected to record a net loss of RMB1 billion in 2Q, swinging from profit to loss both YoY and QoQ.
Citi trimmed its sales volume forecasts for BMW Brilliance for this year and next year from 491,000 and 463,000 vehicles to 420,000 and 380,000 vehicles, respectively.
The broker maintained its Buy/High Risk rating on BRILLIANCE CHI, while lowering its TP from HKD3.9 to HKD2.7.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-31 12:25.)