Zhongsheng Slips To Loss In FY25 On Weak Revenues
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Zhongsheng Group Holdings Ltd. reported a net loss of RMB1.673 billion for FY25, down from a profit of RMB3.212 billion last year, due to weaker revenues. Revenue decreased by 2.2% to RMB164.40 billion, despite a 2.5% increase in new car sales volume, primarily driven by luxury brands. The company plans to increase its NEV store count by 2026 and its founders will reduce their salaries to one yuan to demonstrate commitment to overcoming challenges. Shares closed 1.41% higher at HK$7.930.
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