By Martin Mou

Zhongsheng Group Holdings Ltd. said Monday its first-half net profit rose 10% from a year earlier, partly due to stronger contributions from value-added services.

The Chinese car dealer's net profit for the period came in at 2.29 billion yuan ($328.7 million), while revenue ticked up 1.4% to CNY58.20 billion.

While sales of new cars for the first six months decreased by 7.8% due to the Covid-19 pandemic, Zhongsheng said its income from value-added services grew 8.0% to CNY1.31 billion.

Zhongsheng, a major distributor of luxury cars, said Chinese consumers' demand for upgrades could drive sales of high-end vehicles as the pandemic eases. 



  Write to Martin Mou at martin.mou@wsj.com