(RTTNews) - Zhongsheng Group Holdings Ltd (ZSHGY), a Chinese investment holding company, on Thursday reported a slip in earnings hurt by lower revenue in the first half.
The firm's Profit attributable to owners declined 36% to RMB 1.01 billion from RMB 1.58 billion in the prior year.
The earnings per share slipped by 35.5% to RMB 0.43 from RMB 0.66 a year ago.
Profit before tax declined to RMB 1.22 billion from RMB 1.96 billion last year.
Total revenue shrank by 6.2% to RMB 77.32 billion from RMB 82.41 billion in the previous year, mainly hurt by 7.2% lower motor vehicle sales.
New car sales volume declined 1.7% to 228,649 units from 232,543 units a year ago.
However, pre-owned automobile trade volume rose 9.6% to 111,244 units from 101,525 units a year ago.
In Hong Kong, the shares were trading 0.60% higher at HK$15.19.
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