Yixin Group (2858) H1 2025 earnings summary

Executive summary

• Maintained steady business growth in H1 2025, with revenue rising 22% year-over-year to RMB5.45 billion and net profit up 34% to RMB549 million, driven by technology-driven financial innovation, SaaS, and used car financing growth.

• Cumulative automobile financing transactions exceeded CNY 400 billion by February 2025, with 364,000 transactions (+10.7% YoY) and used vehicle financing accounting for 61% of total transactions.

• FinTech (SaaS) business expanded rapidly, facilitating RMB15.3 billion in financing (+58.2% YoY), with SaaS revenue up 124% to RMB1.87 billion and average revenue per core customer up 87%.

• Asset management scale grew to RMB112.1 billion as of June 30, 2025.

• Rapid expansion in fintech and new energy vehicle financing, with significant AI integration and market leadership.

Financial highlights

• Operating income/revenue reached RMB5.45 billion (+22% YoY); gross profit was RMB2.89 billion (+36% YoY), with gross margin improving to 53%.

• Net profit was RMB549 million (+34% YoY); adjusted net profit was RMB648 million (+28% YoY); non-IFRS net profit was CNY 650 million.

• Cash and cash equivalents increased 35% to RMB5.68 billion; total borrowings rose 5% to RMB28.4 billion.

• Platform income rose 24% YoY, accounting for 79% of total revenue; SaaS services revenue up 124% to RMB1.87 billion.

• Credit impairment losses increased 59% YoY to RMB1.04 billion, reflecting asset base expansion and higher used car exposure.

Outlook and guidance

• Management expects continued robust business scale growth and market share expansion, leveraging digital transformation, AI innovation, and pro-consumption policies.

• FinTech and smart electric vehicle trends seen as dual catalysts for future growth.

• Targets 95% AI penetration in pre-loan processes and 60% in post-loan, aiming for over 90% intelligence long-term.

• Plans to expand AI agentic models and SaaS offerings, especially in Southeast Asia.

• No interim dividend declared for H1 2025; annual dividend policy maintained.