Core Viewpoint - UBS has revised its earnings forecast for China Cinda after the release of its first-half financial report, significantly lowering its earnings per share estimates for the next two years by 53% and 60% respectively, while maintaining a "Neutral" rating on the stock and reducing the 12-month target price from HKD 1.45 to HKD 1.42 [1] Group 1: Financial Performance - China Cinda's core non-performing asset management business remains a significant operational drag, impacted by weak market sentiment leading to suboptimal disposal turnover and ongoing asset quality risks [1] - According to management guidance, the existing asset quality risks may take another year to fully digest [1] Group 2: Future Outlook - UBS forecasts that China Cinda's net profit will begin to recover modestly starting in 2026, primarily due to stabilization in asset quality [1]