China's CDB Leasing H1 profit rises 21% on higher operating lease income
China's CDB Leasing H1 profit rises 21% on higher operating lease income
Overview
China financial leasing firm's H1 net profit rose 21.1% yr/yr on higher operating lease income
Total lease revenue for H1 up 4.9% yr/yr; operating lease income rose, finance lease income fell
Outlook
CDB Leasing's $860 mln capital increase in wholly owned CDB Aviation remains in progress
Result Drivers
OPERATING LEASE GROWTH - Higher operating lease income, especially from aircraft and ship leasing, drove overall revenue increase, per company
LOWER FINANCING COSTS - Reduced financing costs contributed to profit growth, per company
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income Attributable |
| RMB 2.91 bln |
|
Analyst Coverage
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago
Reuters Recommended Reads
Aug 28 - COSCO Shipping Energy Transportation H1 profit jumps on higher tanker rates
Aug 28 - China's Zhongguancun Science-Tech operating lease income jumps 265% as industry-finance model gains traction
Aug 30 - Air China H1 net loss widens to about $341 million, filing shows
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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China's CDB Leasing H1 profit rises 21% on higher operating lease income