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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Cinda Asset Management Co., Ltd.    1359   CNE100001QS1

CHINA CINDA ASSET MANAGEMENT CO., LTD.

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China Cinda Asset offers about $1 bln liquidity support to Peking Founder - sources

12/25/2019 | 02:15am EST
The company logo of China Cinda Asset Management Co Ltd is displayed at a news conference on the company's annual results in Hong Kong

China Cinda Asset Management Group recently offered 8 billion yuan ($1.14 billion) worth of short-term liquidity support to Peking University Founder Group, two people with direct knowledge of the matter said on Wednesday.

The funds were provided last week, one of them said.

The liquidity support comes at a time when Peking Founder has received investor approval to extend the grace period to repay an overdue onshore China bond until Feb. 21, 2020.

It missed a payment deadline for 2 billion yuan worth of maturing short-term commercial paper on Dec. 1. [nB9N28E031]

Sources have told Reuters that Peking Founder has already used up another 8 billion yuan it had previously borrowed from Cinda Asset, and that it still faced an average of 10 billion yuan of debt maturing each month. [nL4N28D2KE]

Peking Founder and bad-debt manager Cinda, one of China's four major asset management firms, did not immediately respond to Reuters requests for comments.

($1 = 6.9990 Chinese yuan)

(Reporting by Zhang Xiaochong and Ryan Woo in Beijing; Writing by Winni Zhou in Shanghai; Editing by Muralikumar Anantharaman and Himani Sarkar)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 6.62% 26.53 Delayed Quote.61.25%
CHINA CINDA ASSET MANAGEMENT CO., LTD. -4.35% 1.54 End-of-day quote.4.76%
FOUNDER SECURITIES CO., LTD. -1.69% 8.72 End-of-day quote.-15.91%
PEKING UNIVERSITY RESOURCES (HOLDINGS) COMPANY LIMITED 4.55% 0.092 End-of-day quote.2.22%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.03% 6.49008 Delayed Quote.-0.16%
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Financials
Sales 2020 98 468 M 15 211 M 15 211 M
Net income 2020 11 252 M 1 738 M 1 738 M
Net Debt 2020 548 B 84 691 M 84 691 M
P/E ratio 2020 4,42x
Yield 2020 6,96%
Capitalization 49 457 M 7 631 M 7 640 M
EV / Sales 2020 6,07x
EV / Sales 2021 6,03x
Nbr of Employees 16 301
Free-Float 28,7%
Chart CHINA CINDA ASSET MANAGEMENT CO., LTD.
Duration : Period :
China Cinda Asset Management Co., Ltd. Technical Analysis Chart | 1359 | CNE100001QS1 | MarketScreener
Technical analysis trends CHINA CINDA ASSET MANAGEMENT CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 1,56 CNY
Last Close Price 1,29 CNY
Spread / Highest target 53,4%
Spread / Average Target 21,5%
Spread / Lowest Target 5,55%
EPS Revisions
Managers and Directors
NameTitle
Wei Dong Zhang President & Executive Director
Jian De Gong Chairman-Supervisory Board
Zi Ai Zhang Chairman
YingXun Yang Chief Financial Officer
Hong Bing Gong Member-Supervisory Board
Sector and Competitors