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ZHONGSHENG HLDG Swells 22%+, Once Peaks at $19.9
Recommend 7 Positive 9 Negative 13 |
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ZHONGSHENG HLDG (00881.HK) sustained last Friday's uptrend, moving upward repeatedly this morning. It peaked at $19.9, up more than 27%. It last reported at $19.04, up $3.44 or 22.051%, with a trading volume of 34.9 million shares, involving $635 million. Sources in mainland China indicated that ZHONGSHENG had inked a licensing agreement with Huawei's Harmony Intelligent Mobility Alliance (HIMA) to open 50 HIMA user centers across the country. BofA Securities released a report stating that ZHONGSHENG plans to open 40 AITO stores by the Chinese New Year in 2025, with a minimum capex of less than RMB1 million for each store. The broker estimated that an AITO store will generate a net profit of RMB20 million for the company. The broker also pointed out that the company aims to have nearly 1,000 sales channels. ZHONGSHENG's target price was lifted from $13 to $22 and its Buy rating was reiterated. AAStocks Financial News |
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