Zhongsheng Group Holdings Limited Announces Consolidated Earnings Results for the Year Ended December 31, 2017; Proposes Dividend for the Year Ended December 31, 2017, Payable on July 6, 2018
March 18, 2018 at 07:22 am EDT
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Zhongsheng Group Holdings Limited announced consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenue of RMB 86,290,288,000 against RMB 71,599,221,000 a year ago. Profit from operations was RMB 5,885,494,000 compared to RMB 3,892,299,000 a year ago. Profit before tax was RMB 4,813,377,000 against RMB 2,878,427,000 a year ago. Profit attributable to owners of the parent was RMB 3,350,413,000 against RMB 1,860,228,000 a year ago. Earnings per diluted share were RMB 1.48 against RMB 0.85 a year ago. Net cash generated from operating activities was RMB 5,234.5 million, arising from operating profit of RMB 6,987.4 million before working capital movement, deducting a net increase in working capital of RMB 692.5 million and deducting payment of tax of RMB 1,060.4 million. Purchases of property, plant and equipment was RMB 1,849.0 million, purchases of land use rights was RMB 259.9 million. Total capital expenditures were RMB 5,305.3 million.
The Board of company resolved to propose to the shareholders of the Company on the forthcoming annual general meeting on 11 June 2018 for the distribution of a final dividend of HKD 0.36 per share for the year ended 31 December 2017 payable to the Shareholders whose names are listed in the register of the Company on 19 June 2018, in an aggregate amount of HKD 813.6 million (equivalent to RMB 680.1 million). It is expected that the final dividend will be paid on 6 July 2018. The proposal for the distribution of the final dividend above is subject to the consideration and approval of the Shareholders at the AGM.
Zhongsheng Group Holdings Limited is specialized in vehicle distribution. The group offers light luxury vehicles (Mercedes-Benz, Lexus, BMW, Audi, etc.) and medium and high-end vehicles (Toyota, Honda, Nissan, Volvo, Land Rover, etc.). Sales by activity are broken down as follows - new vehicle sales (81.4%): 528,154 units sold in 2021; - after-sales services (14%). In addition, the group offers the sale of accessories; - used car sales (4.6%): 139,413 units sold. At the end of 2021, Zhongsheng Group Holdings Limited has 412 dealerships in China. All sales are generated in China.
Zhongsheng Group Holdings Limited Announces Consolidated Earnings Results for the Year Ended December 31, 2017; Proposes Dividend for the Year Ended December 31, 2017, Payable on July 6, 2018