(RTTNews) - Zhongsheng Group Holdings Ltd. (ZSHGY, 0881.HK), an automobile dealership group, on Thursday reported a shift to loss in the financial year 2025 from profit last year, as weaker revenue weighed on overall performance.
New car sales volume increased from last year, supported by Luxury brands, while pre-owned automobile trade volume declined.
In financial year 2025, the company reported net loss of RMB1.673 billion or RMB0.71 per share, compared to a net profit of RMB3.212 billion or RMB1.35 per share last year.
The Chinese automobile company's loss from operations of RMB522.35 million was shifted from profit from operations of RMB5.675 billion in the prior year.
Revenue for the fiscal year 2025 was RMB164.40 billion, 2.2 percent lesser than RMB168.12 billion in the previous year.
New car sales volume stood at 497,316 units, marking a year-on-year increase of 2.5%. Luxury brands accounted for 311,443 units, a growth of 6.2% from last year.
Meanwhile, pre-owned automobile trade volume fell 2.2% year-over-year to 221,213 units.
Regarding the new year, Zhongsheng said it aims to multiply its NEV store count by the end of 2026.
For 2026, the company's founders will cut their annual salaries to one yuan, signalling commitment to navigating challenges and advancing high-quality development.
On the Hongkong Stock Exchange, the shares of Zhongsheng closed Thursday's trading 1.41 percent higher, at HK$7.930. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
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