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TUHU Car (9690) investor relations material
TUHU Car H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 11.5% year-over-year to RMB16.5 billion, maintaining leadership in China's independent automotive service market.
Gross profit increased 5.9% to RMB4.0 billion, but gross margin declined to 24.1% due to a shift toward cost-effective products.
Adjusted net profit rose 12.2% to RMB700.1 million, while reported profit for the year declined 13% to RMB419.4 million.
Store network surpassed 8,000 workshops, with rapid expansion in lower-tier cities and initial overseas presence in Malaysia.
Registered users reached 162.3 million, up 16.9% year-over-year, with transacting users up 17.7% to 28.4 million.
Financial highlights
Revenue: RMB16,461.6 million (2025) vs RMB14,758.7 million (2024), up 11.5%.
Gross profit: RMB3,967.5 million (2025) vs RMB3,746.0 million (2024), up 5.9%.
Operating profit: RMB252.2 million (2025) vs RMB331.0 million (2024), down 23.8%.
Profit for the year: RMB419.4 million (2025) vs RMB482.0 million (2024), down 13%.
Adjusted EBITDA: RMB843.4 million (2025) vs RMB777.3 million (2024), up 8.5%.
Adjusted net profit: RMB700.1 million (2025) vs RMB624.1 million (2024), up 12.2%.
Cash and equivalents: RMB1,923.9 million at year-end, up from RMB1,375.4 million.
Outlook and guidance
Strategic focus on continued store expansion, AI and technology deployment, supply chain optimization, and NEV service capability.
Liquidity position deemed sufficient to fund operational and strategic initiatives.
Board considering potential dual listing and capital market activities to support growth.
- Net profit surged 378% to RMB284.3 million on 9.3% revenue growth and higher margins.9690
H1 202426 Sep 2025 - Revenue up 8.5%, gross margin 25.4%, and adjusted net profit up 29.7% year-over-year.9690
H2 202426 Sep 2025 - Revenue and net profit rose, with strong NEV and user growth and robust cash reserves maintained.9690
H1 202526 Sep 2025
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