shares of cifi holdings group co slumped thursday afternoon after the chinese developers 2021 earnings missed market expectations even as one prominent analyst backed the companys prospects cifis shares closed 88 lower at hk413 taking 12month losses to 42 shares had been up as much as 38 on thursday morning before the release of results the shanghaibased property companys profit fell 52 to 761 billion yuan 119 billion as costs outpaced revenue gains and annual sales came up short of target gross profit margin dropped to 193 from 217 in 2020 still citigroup maintained a buy rating with a hk620 target price derived from an earnings ratio on par with the threeyear historical average of china property developers we believe cifi presents a longterm growth picture of balanced growth with profitability citi said in research note calling the stock a valueformoney choice citi added that it views the developers liquidity risk as overstated among nonstateowned names noting that funding costs had edged down to 50 from 54 in 2020