China ZhengTong Auto Services Reports 10% Decline in Revenue to RMB8.89 Billion for First Half of 2025

Reuters
Sep 25
China ZhengTong Auto Services Reports 10% Decline in Revenue to RMB8.89 Billion for First Half of 2025

China ZhengTong Auto Services Holdings Ltd. reported revenue of RMB8,891.0 million for the six months ended 30 June 2025, representing a decrease of approximately 10.0% compared to RMB9,875.6 million in the same period of 2024. The company attributed the decline in revenue mainly to a decrease in the selling price of new automobiles during the period. Revenue from the sales of new automobiles and provision of mortgage facilitation services was RMB7,245.1 million, down about 9.2% from RMB7,983.3 million a year earlier, accounting for 81.5% of total revenue in the reporting period. The group's after-sales services generated revenue of RMB1,486.9 million, with 504,250 units of automobiles serviced in aggregate during the period. Gross profit for the first half of 2025 was approximately RMB297.5 million. In its pre-owned automobile business, ZhengTong Auto advanced the transformation and upgrading of four pre-owned vehicle centers in Beijing, Shenzhen, Wuhan and Guangzhou, and is preparing for new center stores, aiming to further centralize vehicle sourcing and operations. During the reporting period, ZhengTong Auto was ranked 21st on the "2025 Top 100 China's Automobile Dealer Groups Ranking" and 66th on the "2025 Top 100 China Automobile Dealers Groups - New Energy Sub-list." The company continued restructuring its business framework, emphasizing both regional coordination and vertical brand management.

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