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Thread: Ping’an Shares rebound
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[quote=MARRIE,275001]Jimmy, mainland market is sometimes fluctuated with bullish or bearish statements via government mouthpiece. Do you think the peak point valued around RMB 125 last year is reasonable? Normally speaking, the expectation on a blue chip’s ability of generating future cash flow and the potential growth is reflected in its P/E ratio ranging from 20-40 times. I believe Ping An’s P/E ratio is far above 40 times at the price level of RMB 125 made at that time. In another words, the price is dropping back on track. Also, I heard the newly issued convertible bonds attached with warrants that will be exercised as future outstanding shares. what’s more, convertible bond its self is convertible to shares. The factor that future additional shares dilute the EPS is absorbed by market beforehand and reflected on current price as a result.[/quote]
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