(Transaction made on 15 May 2020, at a price of 8.44 HKD)
The current price as of 2 July 2021 is CC New Life is 7.60.
Compared to my first purchase price, i am actually in a loss 1 year on. In fact the stock has languished at even lower levels throughout the year. However, i remain optimistic of the company.
(Current Price of 7.60 HKD, although it has fallen to a low of 5.76 in the last year)
What resulted in the weak results so far in the year?
1) Initial Hype over property management companies
Companies were trading at close to 40 and 50 PE during the early and mid of 2020. This resulted in a lot of hype. However following the hype, the smaller and mid property management companies tanked following the lack of volume.
2) Too many new listings of Property Management Companies
As a result of this, the exclusivity and uniqueness of companies start to become blurred and funds start to go towards different property management companies.