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"Economy News Agency 6th News" Citi released a research report pointed out that, because of China's import tariffs on US cars,
may cause Chinese car dealer Zhongsheng Holdings ( 00881) lower profits in the second half of the year The note was lowered to "sale
". The target price was also lowered from 25.87 yuan to 17.45 yuan.
Zhongsheng Holdings closed yesterday at 20.85 yuan, 25% lower than the 27.85 yuan high of 11 June.
Citi reports that Sino-US tariffs have a significant impact on car dealerships, reducing the target of three car dealerships by 30 to 50 percent. Zhengtong
(01728) target price decreased from 13.7 yuan to 6.28 yuan, Yongda (03669) target price also fell from 15.5
yuan to 9.25 yuan, both ranked as " buy "". "
The Citi report points out that China's import tariffs on cars made in the United States will rise from 15% to 40% Friday, which will only distort profit margins and sales of BMW vehicles and Mercedes imported. . At the same time, at the end of May, dealers lowered the retail price of imported luxury by 6% to 7%, retail sales of imported cars were low and rebates increased, which is detrimental to car dealers. Industry
Citi estimates that the auto dealer's share price should not rebound as the luxury car maker does not begin to be revalued due to the rebound in pbadenger car sales: it is estimated that sales in August are expected to rebound. (cl)
* Editor's note: This document is for informational purposes only and does not constitute an offer, solicitation or invitation, inducement, type representation or form
or any recommendation or recommendation. Use the independent thinking ability of the individual to make investment decisions
if the loss is caused by the relevant recommendations, it is not related to "Economics", publishers and authors.
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