China Cinda Asset Management Full Year 2023 Earnings: Misses Expectations

China Cinda Asset Management (HKG:1359) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥23.6b (down 38% from FY 2022).
• Net income: CN¥5.82b (up 9.8% from FY 2022).
• Profit margin: 25% (up from 14% in FY 2022). The increase in margin was driven by lower expenses.
• EPS: CN¥0.11.

All figures shown in the chart above are for the trailing 12 month (TTM) period

China Cinda Asset Management Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 30%.

Looking ahead, revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Capital Markets industry in Hong Kong.

Performance of the Hong Kong Capital Markets industry.

The company's shares are down 5.7% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for China Cinda Asset Management that you should be aware of before investing here.

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