🚨 Yangzijiang Financial (YF8) Analysis: The "Hollow" Turnaround 🚨
@Huat99：
$YZJ Fin Hldg(YF8.SI)$ The Big Picture: On paper, YZJ looks like it's recovering. Profits are up, and they are pivoting away from risky China debt. But in reality, the "quality" of the business is getting weaker, and they are about to give away their best asset. The 3 Red Flags You Need to Know: 1. The "Paper Profit" Trick 📄 The recent profit surge wasn't because they sold more or lent more money. It was driven by "accounting reversals" (taking back money they previously set aside for bad debts) and government grants. If you strip those one-time gains out, the core lending business is actually shrinking. 2. The Cash Flow Problem 📉 While net profit looks positive, the actual cash generated from operations turned negative (-$10.6M) in the first ha
