$CHINA ORIENTAL (00581.HK)$ why so cheap. PE below 3

$CHINA ORIENTAL GP (CUGCY.US)$ First to China Oriental Education "Buy" rating
Citigroup first gave China Eastern Education a "Buy" rating, with a target price of HK$12, which is equivalent to a forecasted price-earnings ratio of 25 times in the next 12 months.
China Eastern Education Group is China's largest provider of vocational skills education.
According to Citigroup, the current enrollment rate of vocational education is about 17%, which is far below the government's target of about 50%, and there is huge room for development. It is estimated that from 2021-23, China Eastern’s education income will grow at an average compound annual growth rate of 16%, and net profit will grow at an average compound annual growth rate of 24%.