Zhongsheng Group H1 Profit Falls 89% to RMB111 Million, No Interim Dividend
Zhongsheng Group (00881) reported a 89.06% year-on-year decline in interim net profit attributable to shareholders to RMB111 million for the six months ended June 30. Revenue fell 18.49% to RMB63.022 billion, while gross margin improved to 8%. The company declared no interim dividend.
Zhongsheng Group (00881) announced its interim results for the six months ended June 30. Net profit attributable to shareholders fell 89.06% year-on-year to RMB111 million, with basic earnings per share of RMB0.047. No interim dividend was declared.
Revenue for the period decreased 18.49% to RMB63.022 billion, while gross margin rose 2.6 percentage points to 8%.
The company said it will continue to focus on structural optimization and cost reduction with efficiency improvement in the second half of the year. Through refined management and upgraded technical service capabilities, it aims to drive sustained gross margin improvement and lay a solid foundation for high-quality, sustainable development of after-sales services. In terms of customer experience, it will simplify and optimize service processes to offer more tailored and cost-effective services. To strengthen market share, it will leverage its extensive customer reach network and comprehensive customer operation system to capture regional after-sales market opportunities. Additionally, by utilizing the business model of Zhongsheng maintenance service centers and the qualification advantages of 4S dealerships, the company will actively attract social vehicles for in-store servicing.