SEHK:9690Commercial Services
TUHU Car (SEHK:9690) Stock Rich Multiple Faces Shrinking Profit Margin
Investors walked into TUHU Car’s H1 2026 earnings with a stock that has drifted in the short term and fallen about 13.2% over the past 90 days, yet still carries a rich 27.5x P/E compared with cheaper Hong Kong commercial services peers. The headline from this report is margin pressure. Trailing net profit margin now sits at 1.7%, about half the 3.3% level from a year earlier, even with revenue for the half year at ¥8,777.8m. That squeeze is the pressure point the share price will have to...