Zhitong Financial APP learned that car dealers led the decline. As of press time, Zhongsheng Group (00881) fell 5.04% to HK $25.45, Guanghui Baoxin (01293) fell 3.51% to HK $0.275, Yongda Motor (03669) fell 3.09% to HK $3.45, and American East Motor (01268) fell 2.15% to HK $8.20.
On the news side, the latest "inventory early warning Index Survey of China Automobile Dealers" released by the China Automobile Circulation Association recently showed that the inventory early warning index of Chinese automobile dealers in July was 57.8%, up 3.4% from the same period last year and 3.8% from the previous month. The inventory early warning index is above the rise and fall line, and the automobile circulation industry is in a depressed range.
At present, the business situation of dealers is not as good as expected. Dealer inventory has increased compared with the end of June, while transaction prices continue to decline, dealer profitability decline, slow return of funds, tight circulation and other problems still exist.