China Zhengtong Auto Services Holdings (HK:1728) has released an update.
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China ZhengTong Auto Services Holdings Limited reported a significant downturn in their interim results for the first half of 2024, with a 19.8% drop in revenue and a net loss increase compared to the previous year. The decline was attributed to reduced sales volume and average selling prices for new automobiles. Despite these challenges, the company has implemented strategic adjustments, cost reductions, and business transformations to stabilize and improve their position in the automotive distribution industry.
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