Chow Sang Sang (0116.HK)

[Choon]

Looking at sales data from competitors like CTF, LF, and LFX, and also retail sales data from China and HK, it looks like the second half results of CSS could be similar to its first half.

Assuming that it does, and that CSS sales will continue to grow moderately in years to come, on the back of recovering tourism in HK and income growth in China, the stock can be considered to be selling at a tremendously low price.

A quick check on Google,
- CSS PE is 7x
- CSS dividend yield is 4%

Are you referring to these levels of valuation when you regard CSS as being at a tremendously low price? 

Or are there other earnings / net cash adjustments to consider?