China Cinda Asset Management Co Ltd

China Cinda Asset Management Co Ltd maintains a capital structure characterized by high leverage, with a debt-to-equity ratio of 7.08 and long-term debt totaling CNY 1,387,660,939,000 against total equity of CNY 195,898,664,000. The balance sheet shows total assets of CNY 1,721,226,840,000 and total liabilities of CNY 1,525,328,176,000. Liquidity is assessed as medium risk, with operating cash flow of CNY 26,633,909,000 offset by negative free cash flow of CNY -3,377,092,000 due to capital expenditures of CNY -2,630,296,000. The company trades at a market price of CNY 0.93, resulting in a market capitalization of CNY 35,493,017,686.71.

Profitability metrics indicate low returns on capital, with a return on equity (ROE) of 0.0182 and a return on assets (ROA) of 0.0021. The company reported revenue of CNY 42,350,710,000 and net income of CNY 3,562,291,000, yielding a price-to-earnings ratio of 9.96. The price-to-book ratio is 0.18, suggesting the market values the company significantly below its book value. Operating income stands at CNY 10,953,789,000, while gross profit is CNY 41,270,709,000, indicating a high gross margin but significant operating expenses relative to revenue.

The stock trades at a significant 0.18x price-to-book ratio, implying deep undervaluation relative to its tangible book value.

Analysts project 32.7% upside to a consensus target price of 1.42, signaling potential for substantial capital appreciation.

Net income rose 17.3% year-over-year in FY0, demonstrating recent profitability improvement despite broader revenue declines.

Total assets grew 5.0% year-over-year, indicating continued balance sheet expansion and operational scale maintenance.

Cash conversion metrics rank best-in-class within the investment management cohort, highlighting superior cash generation efficiency.

Free cash flow turned negative at -3.38 billion CNY, indicating significant cash burn and liquidity pressure.

The debt-to-equity ratio of 7.08 sits in the bottom quartile, exposing the firm to extreme leverage risk.

Return on equity of 1.82% lags the cohort median of 4.15%, demonstrating inefficient capital utilization.

Revenue ¥42.35B, −16,4% YoY; Operating income −63,0% YoY.

• ▍Revenue ¥42.35B, −16,4% YoY
• ▍Operating income −63,0% YoY
• ▍Net income +17,3% YoY
• ▍Free cash flow −58,4% YoY
• ▍Net margin 8.4%

Revenue ¥50.64B, −10,0% YoY; Operating income −13,7% YoY.

• ▍Revenue ¥50.64B, −10,0% YoY
• ▍Operating income −13,7% YoY
• ▍Net income −47,8% YoY
• ▍Free cash flow −151,5% YoY
• ▍Net margin 6.0%

Revenue ¥56.28B, −7,8% YoY; Operating income +0,3% YoY.

• ▍Revenue ¥56.28B, −7,8% YoY
• ▍Operating income +0,3% YoY
• ▍Net income −7,8% YoY
• ▍Free cash flow +207,2% YoY
• ▍Net margin 10.3%

Revenue ¥61.04B, −8,1% YoY; Operating income −17,1% YoY.

• ▍Revenue ¥61.04B, −8,1% YoY
• ▍Operating income −17,1% YoY
• ▍Net income −47,7% YoY
• ▍Free cash flow −82,7% YoY
• ▍Net margin 10.3%

Revenue ¥66.43B; Operating income ¥41.20B.

• ▍Revenue ¥66.43B
• ▍Operating income ¥41.20B
• ▍Net margin 18.2%