Elevator Pitch
I maintain a Neutral rating on Hong Kong-listed Chinese automobile dealer Zhongsheng Group Holdings Limited (ZSHGY) (ZHSHF) [881:HK].
This is an update of my prior article on Zhongsheng Group published on April 27, 2020. Zhongsheng Group's share price has increased by +62% from HK$29.80 as of April 24, 2020 to HK$48.40 as of August 31, 2020, since my last update. Zhongsheng Group trades at 19.0 times consensus forward FY 2020, and it offers a consensus forward FY 2020 dividend yield of 1.1%.
Zhongsheng Group delivered positive top line and