The Zhitong Finance App learned that car dealers continued to rebound. As of press release, Meidong Auto (01268) rose 9.01% to HK$2.42; Harmony Auto (03836) rose 7.61% to HK$0.495; Zhongsheng Holdings (00881) rose 7.22% to HK$11.88; and Yongda Auto (03669) rose 3.09% to HK$1.67.

According to the news, according to relevant data from the China Automobile Dealers Association, in August, the overall discount rate for the new car market was 17.4%. From January to August of this year, the “price war” caused a cumulative loss of 138 billion yuan in total retail sales in the new car market, which had a great impact on the healthy development of the industry. The Association urges relevant government departments to pay close attention to the current financial difficulties and shutdown risk issues facing the automobile dealership sector, and resolutely adopt phased financial relief policies and measures to effectively prevent the occurrence of systemic risks in the automobile dealership sector.

Furthermore, on September 25, Xing Haitao, Party Secretary and Secretary General of the Automobile Dealers Chamber of Commerce of the All-China Federation of Industry and Commerce, said in an interview with a reporter from Pengping News that the automobile dealership industry is currently at a very critical stage. Under excessive internal control of the industry, dealers are facing challenges such as increased operating pressure and reduced profitability. At present, the relevant departments have taken note of these issues and attached great importance to them.