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ZHONGSHENG GROUP HOLDINGS LIMITED

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Zhongsheng : to Buy Eight Companies for CNY720 Million

07/10/2020 | 05:17am EST

By Yifan Wang

Zhongsheng Group Holdings has agreed to acquire eight Chinese companies that own several Mercedes-Benz and Jaguar Land Rover dealerships for 720 million yuan ($102.9 million).

The 4S dealerships are located across China, including in the southern province of Yunnan and the eastern province of Jiangsu, Zhongsheng in a stock-exchange filing Friday.

The eight companies also own three land parcels in China with a total area of 25,300 square metres, the Hong Kong-listed luxury-car dealer said.

Zhongsheng believes the deal will strengthen its brand portfolio of luxury automobiles, expand its sales networks and increase its operational scale.

 

Write to Yifan Wang at yifan.wang@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.16% 6.3353 Delayed Quote.-0.17%
ZHONGSHENG GROUP HOLDINGS LIMITED 1.69% 63.05 End-of-day quote.3.70%
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Analyst Recommendations on ZHONGSHENG GROUP HOLDINGS LIMITED
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Financials
Sales 2021 186 B 29 368 M 29 368 M
Net income 2021 7 835 M 1 236 M 1 236 M
Net Debt 2021 14 240 M 2 247 M 2 247 M
P/E ratio 2021 15,8x
Yield 2021 1,26%
Capitalization 124 B 19 556 M 19 556 M
EV / Sales 2021 0,74x
EV / Sales 2022 0,59x
Nbr of Employees 33 201
Free-Float 24,7%
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Mean consensus BUY
Number of Analysts 23
Last Close Price 51,33 CNY
Average target price 77,38 CNY
Spread / Average Target 50,8%
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Managers and Directors
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
Sector and Competitors