Core Viewpoint - Huachen China (01114) has experienced a decline of over 3%, currently trading at 4.04 HKD with a transaction volume of 41.95 million HKD. Morgan Stanley's latest report estimates the company's cash balance at approximately 1 to 1.5 HKD per share by the end of this year, alongside an earnings forecast of 0.64 RMB per share and a dividend payout ratio of 50%, suggesting a potential dividend range of 0.35 to 0.9 HKD in the first half of 2026, translating to a dividend yield of about 8% to 21% [1] Financial Performance - Morgan Stanley has downgraded Huachen China's earnings forecasts for 2025 and 2026 by 11% and 4% respectively, reflecting concerns over the company's cash levels and profitability challenges faced by its joint venture with BMW in the Chinese market [1] Investment Rating - The target price for Huachen China has been reduced from 4.7 HKD to 4.1 HKD, and the investment rating has been downgraded from "Overweight" to "Neutral" due to the anticipated decline in dividend amounts and ongoing profitability challenges [1]
华晨中国回落逾3% 小摩认为公司后续股息金额可能迅速回落