
FY15netprofitup688%YoY;operatingprofitdrops31%YoYCBCpostedFY15resultswithnetincomeofRMB830morEPSofRMB0.18/share,up688%YoY,whichisatthehighendofthe650-690%profitalert.CBCdeclaredaDPSofRMB0.08,representingapayoutof44%,lowerthanourexpectationofRMB0.10.Thesharepriceoffersac.5%yield.Thestrongbottom-linegrowthismainlyattributabletonoassetimpairmentbookin2015,comparedt...