Chow Tai Fock Jewelery (1929)

[dreamybear]

CTK's EPS ard $0.458 => P/E ard 15.8
(https://www.shareinvestor.com/fundamenta...er=1929.HK)
Assuming a 6% decline in EPS this year, P/E ard 16.9.

Going by the article's 6% decline, P/E doesn't seem to chg much, although personally the valuation's too ex for me.

But what surprised me was that the current share price is not as attractive as during the period of HK protest, which likely affected its HK POS(HK/Macau/Others 100+) more than its China POS(abt 3000). Given the existing grim situation in China, the revenue/profit outlook this year shd be much more challenging. What gives ?

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Virus hits China's gold jewellery demand as shoppers stay away
Wed, Feb 12, 2020 - 11:12 AM

.....Metals Focus, a London-based research firm, sees a 6 per cent drop in sales in China this year, extending an estimated 7 per cent drop in 2019 to a seven-year low. It said the decline could turn out to be "particularly acute" given the Chinese New Year has traditionally been the busiest period.....

https://www.businesstimes.com.sg/consume...-stay-away