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On July 16th, Zhongsheng Holding (00881.HK) spent 1.58 million Hong Kong dollars to repurchase 0.122 million shares.
On July 16th, Zhongsheng Holdings (00881.HK) announced that it spent 1.58 million Hong Kong dollars to repurchase 0.122 million shares.
Zhongsheng Group Holdings Chairman, CEO Boost Stake
Zhongsheng Group Holdings (HKG:0881) Chairman Huang Yi and President and Chief Executive Officer Li Guoqiang jointly purchased 3.4 million shares from July 8 to July 11, according to a Friday filing
Express News | Zhongsheng Group - Total Shareholding of Chairman & CEO in Co Increased to 49.09% as at Date
Auto retailers in general are doing well. Zhongsheng Hldg (00881) has risen 5.25%. In June, the inventory level of auto retailers was below the warning line.
Jingu Wealth News | Auto retailers are performing well overall, with Grand Baoxin (01293) up 11.25%, Zhongsheng Holdings (00881) up 5.25%, Meidong Auto (01268) up 4.95%, Yongda Auto (03669) up 2.47%, and Harmony Auto (03836) up 2.15%. On July 10th, the China Automobile Dealers Association released the "Auto Retailer Inventory" survey results for June 2024. The comprehensive inventory coefficient of automobile dealers in June was 1.40, a 2.8% decrease from the previous month and a 3.7% increase compared to the same period last year. Inventory levels were below the warning line. Dealers are upset.
Zhongsheng Holdings (00881.HK) spent 4.7554 million Hong Kong dollars on July 9 to buy back 0.4155 million shares.
On July 9th, Zhongsheng Holdings (00881.HK) announced that it had repurchased 0.4155 million shares for HKD 4.7554 million on the same day.
HK stock market motion: zhongsheng hldg (00881) rebounds more than 4%. Morgan Stanley stated that dealers' new car business is bottoming out.
Zhongsheng Hldg (00881) rebounded by more than 4% according to the Wisdom Financial App, as of press time, it rose 3.63% to HKD 11.42, with a turnover of HKD 30.0053 million. Previously, Deutsche Bank released a report stating that the new car profit margin of Chinese luxury car dealers has dropped to the level where dealers refuse to accept more inventory unless the manufacturer provides additional rebates. For dealers, the boycott action shows that new car business is bottoming out, but for German car manufacturers, reducing supply or providing additional rebates will still lead to profit decline. The bank believes that the boycott action indicates that dealers' new car business is bottoming out. Currently, new cars have thin margins and high sales.
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