BUZZ-China's Zhongsheng hits 2-1/2-month peak on FAW AUDI deal

Reuters03-12

** Shares of Chinese automobiles distributor Zhongsheng Group Holdings Ltd 0881.HK climb 3.6% to HK$14.78, their highest since December 27, and on course for the second session of gains

** Zhongsheng says it has entered into a memorandum of understanding with FAW AUDI Sales Co to deepen strategic collaboration

** Says the two firms plan to establish at least 10 new dealership outlets in 2025 to strengthen FAW Audi's dealer network in China, and they will work closely in new energy development and business models to enhance customers experiences

** Hang Seng Commerce & Industry Index .HSNC slips 0.03%, Hang Seng Index .HSI eases 0.1%

** Stock up 4.2% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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