Zhongsheng Group Releases Mixed Mid-Year Financials

Zhongsheng Group Holdings Ltd. (HK:0881) has released an update.

Zhongsheng Group Holdings Limited reports a slight increase in revenue by 0.6% for the six months ended June 30, 2024, compared to the same period last year, with after-sales services showing significant growth. However, the company faces a considerable decline in gross profit and earnings, with total gross profit down by 29.3% and profit for the period reduced by half. The automotive dealer also saw a rise in new and pre-owned car sales volumes, indicating a mixed performance amid challenging market conditions.

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