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CHINA CINDA ASSET MANAGEMENT CO., LTD.

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Hong Kong shares close down as tech giants drop; gambling stocks jump

01/14/2022 | 03:56am EDT

Jan 14 (Reuters) - Hong Kong shares finished lower on Friday, weighed by losses in tech giants, while gambling stocks surged as investors bought the dip on bets the sector is undervalued.

The Hang Seng index fell 0.2% to 24,383.32, while the China Enterprises Index lost 0.6% to 8,554.79.

** For the week, the Hang Seng index jumped the most in 14 months to end up 3.8%, while the China Enterprises Index gained 3.9%.

** The Hang Seng Tech index fell 0.5%, tracking Wall Street's losses after hawkish remarks from Federal Reserve officials. Alibaba Group and Meituan shed 2.2% and 2.5%, respectively

** Sands China Ltd surged 7.1% to become the biggest percentage gainer on the Hang Seng Index, and a sub-index tracking gaming stocks listed in Hong Kong jumped 3.9%.

** "After experiencing a series of negative events in 2021, Macau Gaming is now one of the most attractive sectors for long-term investors from risk-reward and valuation perspectives," Daiwa said in a note.

** China Evergrande Group added 0.6% as it secured a crucial approval from onshore bondholders to delay payments on one of its bonds.

** However, the Hang Seng Mainland Properties Index ended lower 0.5%, as more cash-strapped developers scrambled to avert defaults or raise money.

** China Cinda Asset Management slumped nearly 10% after it planned to scrap an agreement to buy a 20% stake in the consumer finance arm of Ant Group, worth 6 billion yuan ($943.83 million). (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 8.51% 87.99 Delayed Quote.-25.93%
CHINA CINDA ASSET MANAGEMENT CO., LTD. -0.79% 1.25 Delayed Quote.-11.27%
CHINA EVERGRANDE GROUP 8.55% 1.65 Delayed Quote.3.77%
HANG SENG 0.23% 19937.32 Delayed Quote.-14.95%
MEITUAN INC. -2.39% 163.4 Delayed Quote.-25.64%
ON SEMICONDUCTOR CORPORATION 6.04% 56.18 Delayed Quote.-17.29%
SANDS CHINA LTD -1.02% 15.58 Delayed Quote.-13.22%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.29% 6.81612 Delayed Quote.6.83%
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Analyst Recommendations on CHINA CINDA ASSET MANAGEMENT CO., LTD.
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Financials
Sales 2022 102 B 14 994 M 14 994 M
Net income 2022 13 294 M 1 958 M 1 958 M
Net Debt 2022 526 B 77 434 M 77 434 M
P/E ratio 2022 3,01x
Yield 2022 10,4%
Capitalization 41 582 M 6 126 M 6 126 M
EV / Sales 2022 5,57x
EV / Sales 2023 5,27x
Nbr of Employees 14 723
Free-Float 30,6%
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China Cinda Asset Management Co., Ltd. Technical Analysis Chart | 1359 | CNE100001QS1 | MarketScreener
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 1,09 CNY
Average target price 1,33 CNY
Spread / Average Target 22,4%
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Managers and Directors
Wei Dong Zhang President & Executive Director
YingXun Yang Chief Financial Officer
Jian De Gong Chairman-Supervisory Board
Zi Ai Zhang Chairman
Wu Xiang Zhu Independent Non-Executive Director
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