0207 GMT - Zhongsheng Group Holdings' distributed main auto brands could still face challenges in 2025, Daiwa Capital Markets analysts say in a research report. The Lexus, Audi and BMW brands posted steeper sales volume declines within the Chinese company's sales network in 2H 2024, the analysts note. Additionally, sales volumes of auto brands at its AITO dealership stores haven't been ideal so far in 1Q 2025, with declines of 44%-47% in January and February, the analysts say. Daiwa cuts its 2025-2026 net profit forecasts for the automobile dealership group by 11%-12% and lowers the stock's target price to HK$15.00 from HK$17.20 while maintaining an unchanged outperform rating. Shares are down 0.8% at HK$14.14. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 30, 2025 22:07 ET (02:07 GMT)
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