Citigroup maintained its buy rating of 0829.HK, looking forward to HK $6.50.

Citigroup said its mid-term results grew strongly in 2011 and raised its 11-year profit forecast by 2% to reflect management's reference to the increase in sales in July and August and the positive impact of its restructured product portfolio on gross profit margin. Shenguan will launch new products overseas in the second half of the year, plus 50 new production lines will be put into production, which will increase the source of revenue.

The crown fell 2.01 per cent to HK $3.90 yesterday.