Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00881 ZHONGSHENG HLDG
RTNominal down9.040 -0.440 (-4.641%)
Others

14/08/2018 10:33

[I-bank focus]CS cuts Zhongsheng Holding (00881) to HK$25.5

[ET Net News Agency, 14 August 2018] Credit Suisse lowered its target price for
Zhongsheng Group Holding (00881) to HK$25.5 from HK$28.3, and maintained its "outperform"
rating.
The research house said Zhongsheng's 1H earnings were 6% below consensus estimate. Key
surprise was lower-than-expected premium brands new car gross margin - down 0.6 pp YoY to
4.3%, especially for Audi, BMW, and JLR.
Credit Suisse attributed the margin decline to premium brands weak sales performance in
2Q - flat YoY in May/June 2018. This is because car buyers were waiting for lower prices
after the government declared imported vehicles tariff reduction from 25% to 15% from 1
July 2018.
Credit Suisse lowered its 2018-20 estimates by 9% with lower new car margin assumption.
(KL)

Remark: Real time quote last updated: 23/09/2024 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.