omniture

Major Shareholder of Zhongsheng Group Increases Stakes in the Company

Zhongsheng Group Holdings Limited
2011-08-25 22:07 1311

HONG KONG, Aug. 25, 2011 /PRNewswire-Asia/ -- Zhongsheng Group Holdings Limited ("Zhongsheng Group" or the "Company", and together with its subsidiaries, the "Group"; Stock code: 881.HK), a leading national automobile dealership group in China, is pleased to announce that the Company's ultimate controlling shareholders Mr. Huang Yi, the chairman of the Board, and Mr. Li Guoqiang, the vice chairman of the Board, that they have purchased in the market through Blue Natural Development Ltd., which is wholly owned by Mr. Huang and Mr. Li, a total of 1,020,500 shares of the Company from 22 August 2011 to 24 August 2011 at an average price of HK$12.51 per share. Currently, the total shareholding of Mr. Huang and Mr. Li in the Company has increased from approximately 65.29% to approximately 65.34%.

Co-founder, Chairman & Executive Director of Zhongsheng Group, Mr. HUANG Yi said, "The increase in stakes by me and Mr. Li Guoqiang, the vice chairman of the Board is a vote of confidence in the value and prospect of our Group. Looking ahead, Zhongsheng Group plans to increase 40 new dealerships this year through organic growth and acquisitions to expand the dealership network. The Group aims to optimize the brand portfolio. Recently, the Group has obtained the dealership right of 'Land Rover', an international luxury automobile brand. We will proactively seek automobile brands with growth potentials to enhance overall profitability."

About Zhongsheng Group Holdings Limited

Zhongsheng Group was listed on the Main Board of the Hong Kong Stock Exchange on 26 March 2010. Zhongsheng Group is one of the leading national automobile dealership groups in China. The Group owns a comprehensive 4S dealership network nationwide, covering affluent cities and regions of China. Zhongsheng Group's brand portfolio now covers international luxury and mid-to-high-end automobile brands, including luxury automobile brands such as Mercedes-Benz, Lexus, Porsche, Audi, Lamborghini and imported Volkswagen, as well as mid-to-high-end automobile brands such as Toyota, Nissan, Honda, etc. The Group was the first company being granted dealership rights by Toyota and one of the first authorized dealerships for Lexus and Audi in China. The Group strives to develop "one-stop automobile shop" business model. In addition to new automobile sales business in its 4S dealerships, the Group's after-sales businesses offer spare parts, automobile accessories, repair and maintenance services, detailing services and other automobile-related products and services.

For more information, please visit: http://www.zs-group.com.cn

For further information, please contact:

Porda Havas International Finance Communications Group 
Ms. Kylie Yeung +852-3150-6770 kylie.yeung@pordahavas.com
Ms. Ada Leung +852-3150-6732 ada.leung@pordahavas.com
Ms. Irene Chan +852-3150-6739 irene.chan@pordahavas.com
Ms. Saprina Leung +852-3150-6722 saprina.leung@pordahavas.com
Ms. Sharon Ma +852-3150-6745 sharon.ma@pordahavas.com
Fax: +852-3150-6728
Source: Zhongsheng Group Holdings Limited
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