ZHONGSHENG HLDG (00881) is currently down more than 4%, as of the time of writing, falling by 4.68% to 13.04 Hong Kong dollars, with a transaction amount of 93.2646 million Hong Kong dollars.
According to ZHONGSHENG HLDG (00881), the stock has fallen over 4%, as of the time of reporting, it is down 4.68%, priced at 13.04 HKD, with a transaction amount of 93.2646 million HKD.
On the news front, according to the China Automobile Dealers Association, the terminal sales of Passenger Vehicles in December are expected to be around 2.9 million units, with a significant year-end tail. The China Automobile Dealers Association determines that with the approaching January Spring Festival, the number of working days decreases, and most Consumers return home or travel for holidays, resulting in a steep decline in store foot traffic. In addition, due to the impact of the pain period for price recovery, the transaction rate will also decline, leading to a significant decrease in January sales compared to December of last year.
Moreover, in order to achieve annual goals and obtain year-end rebates, along with the push from car purchases during the Spring Festival, Dealers are increasing their efforts to replenish and clear stock, accelerating inventory turnover, capital recovery, and ensuring the achievement of annual sales targets. Although sales have increased, inventory pressure has been alleviated to some extent, the operating conditions of Dealers have improved, yet the challenges of profitability and liquidity remain severe.