CZASF - China ZhengTong: Potential New Controlling Shareholder To Ease Balance Sheet Woes

• China ZhengTong's financial leverage is high, and its cash flow is tight, but a potential new controlling shareholder could possibly help in the company's deleveraging efforts.
• However, there has been negative news flow for China ZhengTong recently, which raises questions whether the company's normal business operations have been disrupted due to its balance sheet woes.
• China ZhengTong trades at 3.7 times consensus forward FY 2021 P/E, and it offers a consensus forward FY 2021 dividend yield of 7.1%.

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