Brilliance China Automotive Holdings (HKG:1114) expects a profit decrease of about 60% for 2024 , as compared with a year earlier, according to a Friday filing with the Hong Kong bourse.
The company attributed the decline in profit to the lower performance of BMW Brilliance Automotive and a 1.47 billion yuan withholding tax on subsidiary dividends.
The manufacturer and seller of BMW vehicles in China plans to publish its annual results on March 21.
The company's shares were up 3% at the close of trading.
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