ZHONGSHENG HLDG (00881) saw its shares rise nearly 10% during the morning trading session. At the time of writing, the stock was up 5.93%, trading at HK$8.40, with a turnover of HK$63.349 million.

The company's annual financial report revealed total new vehicle sales of 497,300 units for the year, representing a 2.5% year-over-year increase. Sales of luxury brands reached 311,400 units, up 6.2% compared to the previous year, accounting for 62.6% of total sales. Sales of the new energy brand AITO made up 8.2% of total volume, effectively offsetting the decline in traditional fuel vehicle sales.

According to the annual report, the company plans to accelerate its efforts to capitalize on opportunities in the new energy sector and expand its strategic cooperation with Geely. The goal is to achieve a multiple increase in the number of new energy stores by the end of 2026.