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Car dealers/auto retailers generally experienced a downturn, with Zhongsheng Hldg (00881) dropping 6.38%. The August car market has entered a period of stagnation, and dealers are expected to perform worse than they did in July.
Auto retailers fell across the board, with Zhongsheng Hldg (00881) dropping 6.38%, Meidong Auto (01268) dropping 4.85%, Yongda Auto (03669) and Harmony Auto (03836) falling by more than 1%. The latest issue of the "China Auto Dealers Inventory Warning Index Survey" released by the China Automobile Circulation Association shows that the inventory warning index for Chinese auto dealers in July 2024 was 59.4%, up 1.6 percentage points year-on-year but down 2.9 percentage points month-on-month. The inventory warning index is above the boom-bust line, and the auto circulation industry is in a recessionary range. The association said that
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.
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Harmony Auto (03836.HK): The board of directors decided to declare and pay a year-end dividend of HK$0.037 per share from the company's share premium account
On June 3, Ge Longhui Auto (03836.HK) announced that the Group's board of directors decided to declare and pay a final dividend of HK$0.037 per share for the year ended December 31, 2023 from the company's share premium account, subject to approval by the company's shareholders at the company's annual general meeting of shareholders to be held on June 18 (Tuesday), 2024. On the date of the announcement, the company had issued 1,524,725,177 common shares. Based on the number of shares issued at the date of the announcement, the total proposed final dividend (if declared and paid) would be approximately HK$56.4 million. suggestions
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