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    881   KYG9894K1085

ZHONGSHENG GROUP HOLDINGS LIMITED

(881)
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Zhongsheng : OPERATIONAL UPDATE FOR THE FIRST QUARTER OF 2021

04/06/2021 | 08:10pm EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中 升 集 團 控 股 有 限 公 司

Zhongsheng Group Holdings Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 881)

OPERATIONAL UPDATE FOR THE FIRST QUARTER OF 2021

This announcement is published on a voluntary basis by the board of directors (the ''Board'') of Zhongsheng Group Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') to provide an operational update on the business of the Group in the first quarter of 2021.

In the three months ended 31 March 2021 :

. new car sales volume reached 131,916 units, representing an increase of approximately 82% compared to the three months ended 31 March 2020. In particular, luxury brand new car sales volume reached 77,943 units, representing an increase of approximately 86% compared to the three months ended 31 March 2020; and

. trade volume for pre-owned automobile reached 29,946 units, representing an increase of approximately 118% compared to the three months ended 31 March 2020.

The operational update in this announcement does not constitute, represent or indicate the full picture of the Group's financial performance. This announcement is based on the Board's preliminary review of the draft unaudited operational data of the Group and the preliminary information currently available to the Board, and is not based on any figures or

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information that has been audited or reviewed by the Company's auditor. The information contained in this announcement may be subject to change and/or adjustment. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the Company's securities.

By order of the Board of

Zhongsheng Group Holdings Limited

HUANG Yi

Chairman

Hong Kong, 7 April 2021

As at the date of this announcement, the executive Directors are Mr. Huang Yi, Mr. Li Guoqiang, Mr. Du Qingshan, Mr. Zhang Zhicheng, Mr. Li Guohui and Mr. Tang Xianfeng; the non-executive Directors are Mr. David Alexander Newbigging and Mr. Hsu David; and the independent non-executive Directors are Mr. Shen Jinjun, Mr. Ying Wei, Mr. Chin Siu Wa Alfred and Mr. Li Yanwei.

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Disclaimer

Zhongsheng Group Holdings Limited published this content on 07 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2021 00:09:02 UTC.


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Sales 2021 186 B 29 324 M 29 324 M
Net income 2021 7 835 M 1 234 M 1 234 M
Net Debt 2021 14 240 M 2 243 M 2 243 M
P/E ratio 2021 15,1x
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Last Close Price 49,31 CNY
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Spread / Average Target 56,9%
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Guo Qiang Li President, Chief Executive Officer & Vice Chairman
Ning Yu Joint Chief Financial Officer
Yi Huang Chairman
Jin Jun Shen Independent Non-Executive Director
Wei Ying Independent Non-Executive Director
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