CSSC (Hong Kong) Shipping (SEHK:3877): Valuation Check After Auditor Resignation and Baker Tilly Appointment
CSSC (Hong Kong) Shipping's long-standing auditor, Grant Thornton, resigned over a fee dispute, with Baker Tilly appointed as the new auditor. Despite this governance issue, the company's stock shows solid momentum with a 90-day return of 7.85% and a three-year return of 133.53%. The stock is considered undervalued with a P/E ratio of 6.8x, compared to the industry average of 15.8x, suggesting potential for valuation growth. However, governance concerns and market conditions could impact this outlook.
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