SEHK:2799Capital Markets
China CITIC Financial Asset Management (SEHK:2799) Stock Cheapens As Revenue Swings To Loss
China CITIC Financial Asset Management came into these results looking like a value play, with the stock at HK$0.635 and a P/E around 4x that sat well below Hong Kong capital markets peers. The headline this half is not the share price; it is the earnings power that continues to hold up despite a messy revenue picture and a large one off loss still hanging over the trailing 12 months.
Basic earnings per share of CN¥0.075 for the first half and trailing 12 month net income of about CN¥10.9b...