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China Meidong's strong earnings growth momentum is expected to be sustained into 2H 2020, with luxury car sales in China up +32% YoY in August 2020.
The company's future growth drivers are new store openings, acquisitions of dealerships, and an increase in sales contribution from after-sales services.
China MeiDong trades at 28.1 times consensus forward FY 2021 P/E, and it offers a consensus forward FY 2021 dividend yield of 1.8%.