Elevator Pitch
I maintain a Neutral rating on Hong Kong-listed Chinese automobile dealer China Yongda Automobiles Services Holdings Limited (OTC:CYYHF) [3669:HK].
This is an update of my prior article on China Yongda published on April 20, 2020. China Yongda's share price has increased by +27% from HK$6.80 as of April 17, 2020 to HK$8.66 as of June 17, 2020 since my last update.
China Yongda announced in June 2020 that it is proposing special dividends of RMB486.1 million, after it chose to omit FY2019 dividends months ago. This is a positive sign that