SEHK:3908Capital Markets
CICC (SEHK:3908) Net Margin Surge Challenges Pessimistic Narratives on Earnings Sustainability
China International Capital (SEHK:3908) saw its net profit margin climb to 28.9% from 21.8% a year ago, alongside an impressive annual earnings growth rate of 68.9%, reversing a trend of 12% average declines over the previous five years. Revenue is forecast to increase at 8.5% annually, slightly trailing the overall Hong Kong market projection of 8.6%. Expected annual earnings growth of 8.1% also lags the 12.3% market estimate. The stock’s Price-to-Earnings ratio of 13.7x marks it as a value...