The Zhitong Finance App learned that Morgan Stanley released a research report stating that it gave Zhongsheng Holdings (00881) an “increase in holdings” rating, with a target price of HK$37. The company plans to open 37 central maintenance centers by the first quarter of this fiscal year, which will take 4 to 6 months to build, and believes this move will help the company reduce initial internal operating costs, thereby winning external customers and consolidating the aftermarket.

According to the report, the company's average monthly used car sales rose to 20,000 units at the end of last year, and management also maintained the used car sales target of over 24,000 units this year. According to management's earlier guidance, on the contrary, sales of new cars remained flat in the second half of last year or fell slightly year on year, and new car discounts also increased year on year and half year on year. Dealers can get rebates from major automakers such as BMW and Mercedes-Benz, but the timing and amount are yet to be determined.