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China Zhengtong Auto Services Holdings ( (HK:1728) ) has shared an announcement.
China ZhengTong Auto Services has provided a quarterly update confirming that, despite its continued trading suspension in Hong Kong, its core 4S dealership, supply chain and property businesses in China remain operational and are being upgraded through management restructuring, closure and restructuring of underperforming outlets, and a push into new energy and international markets. The company is pursuing a major connected acquisition of the entire 4S dealership and auto sales and export business of Shenzhen-listed Xiamen Xindeco Ltd., which is expected to expand its regional coverage, scale and market share, while both the controlling shareholder and the company itself are exploring share placements and new share issues to restore minimum public float and pave the way for trading resumption, signalling active efforts to stabilize ownership structure and support future growth.
More about China Zhengtong Auto Services Holdings
China ZhengTong Auto Services Holdings Limited operates in China’s automotive sector, focusing on 4S dealership operations, automotive supply chain services and comprehensive properties. The group concentrates on mid-to-high-end automotive brands and is actively pivoting toward new energy vehicle brands while optimizing its dealer network, strengthening centralized procurement and upgrading digital management to enhance operational efficiency and profitability.
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.43B
Learn more about 1728 stock on TipRanks’ Stock Analysis page.