Zhongsheng Holdings (00881) rose more than 7% in early trading. As of press release, it was up 7.15% to HK$13.78, with a turnover of HK$36.48,900.
The Zhitong Finance App learned that Zhongsheng Holdings (00881) rose more than 7% in early trading. As of press release, it had risen 7.15% to HK$13.78, with a turnover of HK$36.48,900.
According to the news, on April 10, the China Automobile Dealers Association released the results of the “Auto Dealer Inventory” survey for March 2024: the comprehensive inventory coefficient for car dealers in March was 1.56, down 10.3% from the previous month and 12.4% year on year. The inventory level was above the warning line, and dealer inventory pressure declined. Caitong Securities pointed out that the inventory coefficient of car dealers declined in March and was at a mid-low level in the same period since 2012, indicating that the previous “price for volume” strategy of car companies had a certain effect.
Furthermore, according to documents disclosed by the Hong Kong Stock Exchange on April 12, Fidelity International increased its shareholding of Zhongsheng Holdings by 15.1495 million shares, worth approximately HK$218 million on April 9. After the increase in holdings, Fidelity International's latest shareholding was 123 million shares, and the good position ratio increased from 4.50% to 5.14%.