Zhongsheng Expects Swing to Loss in 2025; Shares Fall 15%
MT Newswires Live
Mar 16
Zhongsheng (HKG:0881) expects to record a loss attributable to owners of no more than 2 billion yuan for 2025, compared with a profit of 3.2 billion yuan a year earlier, according to a Friday Hong Kong bourse filing.
Shares of the automobile distributor fell nearly 15% in late morning trade on Monday.
The expected loss was mainly attributed to continued gross losses in the group's automobile business amid weak domestic consumer spending, supply-demand imbalance in the passenger vehicle market, and intensified industry competition.
The company said its annual results are expected to be released before the end of March.
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