SEHK:2016Banks
China Zheshang Bank (SEHK:2016) Stock Faces Profitability Questions After Soft Q2
China Zheshang Bank stock has barely budged over the past month, even as investors weighed a low P/E of 4.5x and forecasts for stronger revenue and earnings growth. Today's Q2 print puts that quiet skepticism under a harsher light. Basic earnings per share dropped to ¥0.064 and quarterly net profit came in at ¥1,832m, well below the seasonally stronger Q1 run rate. For a bank often viewed as a growth story trading at a discount, the headline this quarter is the pressure on profitability...