China CITIC Financial Asset Management’s stock price plunges to 0.90 HKD, reporting a 3.23% downturn: An in-depth look at 2799’s performance

China CITIC Financial Asset Management (2799)

0.90 HKD -0.03 (-3.23%) Volume: 131.11M

China CITIC Financial Asset Management’s stock price stands at 0.90 HKD, experiencing a dip of -3.23% in the recent trading session with a trading volume of 131.11M, however, showcasing a robust YTD growth of +40.00%.

Latest developments on China CITIC Financial Asset Management

China Huarong Asset Management‘s stock price movements today may be influenced by the recent execution of several former executives and bankers for involvement in massive bribery scandals. The Chinese government has executed top officials, including former Huarong executives, for taking bribes amounting to millions of dollars. This crackdown on corruption within the financial sector has sent shockwaves through the industry, with the latest execution being of Bai Tianhui, a former senior banker who was sentenced to death for accepting over $156 million in bribes. These high-profile cases highlight China’s commitment to rooting out corruption and restoring integrity to its financial institutions.

China CITIC Financial Asset Management on Smartkarma

Analysts on Smartkarma, such as Brian Freitas, are closely monitoring China Huarong Asset Management (2799 HK) as it could potentially be added to a global index in August. The stock price of China Huarong has doubled in the last 4 months, outperforming its closest peer and trading at much higher valuations. With high positioning and the stock’s inclusion in the Southbound Stock Connect in March, investors are closely watching its performance.

According to Brian Freitas‘ research report titled “China Citic Financial (2799 HK): Global Index Inclusion as Valuation Blows Out”, the doubling of China Huarong Asset Management‘s stock price over the last 4 months could lead to its inclusion in a global index. The report highlights the company’s strong performance compared to its peers and its attractive price to book valuation. Investors are paying attention to the potential impact of such inclusion on China Huarong’s stock price and market presence.

A look at China CITIC Financial Asset Management Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

China Huarong Asset Management Co Ltd. provides a variety of financial services, including asset management, banking, securities services, financial leasing, trust services, and investment services. Based on Smartkarma Smart Scores, the company has a strong outlook for growth, with a score of 5 in this category. This indicates that China Huarong Asset Management is positioned well for future expansion and development in the financial services industry.

However, the company’s overall outlook is somewhat mixed, with lower scores in dividend (1) and momentum (2) factors. While China Huarong Asset Management shows potential for growth, it may not be as attractive for investors seeking steady dividend payouts or strong short-term performance. With moderate scores in value (3) and resilience (3), the company demonstrates stability and reasonable valuation, but may not stand out significantly in these areas compared to its peers.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma