GLONGHUI, August 31 | According to a rating report published by Bank of China International, Dongfeng Group's revenue for the first half of the year increased 2.9% year-on-year to 45.7 billion yuan, but net profit fell sharply by 77.0% year-on-year to 1.27 billion yuan, mainly due to a sharp reduction in investment income; since last year, the sales performance of Dongfeng Nissan and Honda, the company's two major profit contributors, has been under pressure in the Chinese market. According to the bank, Dongfeng management lowered this year's sales target from 3 million units to 2.59 million units. The sales target was mainly for downgraded passenger car panels of 490,000 units, but slightly raised the sales target for the commercial vehicle sector for the whole year. The bank said it has drastically cut its net profit forecast for this year and next year to 3 billion yuan and 2.2 billion yuan. It also lowered its target price to HK$3 and maintained its rating as “hold”.