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TUHU Car (9690) investor relations material
TUHU Car H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for the six months ended 30 June 2025 rose 10.5% year-over-year to RMB7.88 billion, with gross profit up 7.4% to RMB1.98 billion and net profit up 7.8% to RMB306.5 million.
Adjusted EBITDA increased 7.5% to RMB483.3 million, and adjusted net profit grew 14.6% to RMB410.5 million, reflecting operational improvements and cost control.
The company expanded its workshop network to 7,205 locations, with transacting users up 23.8% year-over-year to 26.5 million and registered users up 18.8% to 150.3 million.
Leveraged digital capabilities, AI-driven service enhancements, and targeted marketing to maintain growth and user satisfaction above 95%.
Free cash flow reached RMB347 million, up 32.2% year-over-year, and cash reserves remained robust at RMB7.5 billion.
Financial highlights
Revenue: RMB7.88 billion (+10.5% YoY); Gross profit: RMB1.98 billion (+7.4% YoY); Net profit: RMB306.5 million (+7.8% YoY).
Adjusted EBITDA margin: 6.1%; Adjusted net profit margin: 5.2%.
Gross margin: 25.2% (down from 25.9% YoY) due to a shift toward value-for-money products and increased tax surcharges.
Operating expenses increased, with selling and marketing up 12.5%, R&D up 13.8%, and operations/support up 9.4% year-over-year.
Earnings per share: Basic RMB0.4, Diluted RMB0.4.
Outlook and guidance
Continued investment in AI infrastructure, automation, and talent to drive operational efficiency and customer experience.
Expansion of NEV-focused services and products, targeting the growing NEV market and out-of-warranty vehicle segment.
Ongoing store network growth, especially in lower-tier cities, with a focus on franchisee support and operational excellence.
Automation and logistics upgrades expected to further improve operational efficiency and support future growth.
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