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China Life Insurance Co. Ltd. Message Board

  • turnipfarmer99 turnipfarmer99 Jan 15, 2004 8:14 AM Flag

    I have faith in LFC and CTRP

    Two China IPOs

    LFC is AIG of China:

    Earnings of LFC=0.64 billion(9 months)
    Premium growth rate=30% for next three years.
    Expected EPS growth rate 50+%, next three years.

    CTRP is of China:

    Earnings of Q3 of 2003=26.763 million yuan(or 3.23 million US$)

    Growth Rate of Q3: 199%

    Annualized P/E=41
    (excluding preferred dividends as all preferred shares has been converted into common shares, and the company plans to pay 25%of profits as dividends to common shares holders)
    Expected EPS growth rate: Triple digits

    Long term investor's advantage: For example, if you pay P/E of 41, which might looks expensive,,,however, a year later, assuming the stock price doesn't change. Your P/E is going to be 20 as earnings has doubled. In the mean while you got paid 2% of dividends yield.
    (however, the price HAS TO rise when the story is known).

    Having confidence in China's growth, you understand P/E of 34 for LFC is too cheap. P/E of 41 for CTRP is very cheap too!

    I also have good positions in other Chinese companies, such as SINA, which is the Yahoo of China.

    Most of China ADRs are #1 companies in each field. USXC index was up 104% last year was FUNDAMENTAL.

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