Citigroup released a research report stating that BRILLIANCE CHI (01114) has revised its dividend policy, targeting a distribution of at least 50% of the after-tax profit for the relevant fiscal year, exceeding market expectations. Citigroup mentioned that it expects BRILLIANCE to have an after-tax profit of 4 billion RMB this year, and based on a dividend payout ratio of 50% to 75%, the constant dividend to be paid next year is estimated to reach 2 billion to 3 billion RMB, which corresponds to a dividend yield of 12% to 18%. It is believed that the market reaction will be overwhelmingly positive. Rating is 'Buy', Target Price is 5 HKD.