Yixin Group (2858) H1 2026 earnings summary

Executive summary

• Achieved strong revenue and profit growth in H1 2026, with revenue up 13–13.3% to RMB 6.18–6.2 billion and net profit up 28–28.2%, driven by SaaS and used car financing.

• Adjusted net profit rose 31–31.2% to RMB 850–851 million, and gross profit margin improved to 65% from 53% last year.

• FinTech (SaaS) revenue surged 59.5–60% year-on-year, with facilitated financing volume up 72–72.2%.

• International business expanded, with overseas financing volume reaching US$150 million and preparations for entry into Thailand, Indonesia, and Vietnam.

• Used car financing accounted for 54% of total financing, reflecting strategic focus and market opportunity capture.

Financial highlights

• Total revenue reached RMB 6.18–6.2 billion (+13–13.3% YoY); gross profit was RMB 3,988 million (+38% YoY); gross margin at 65%.

• Adjusted net profit was RMB 850–851 million (+31–31.2% YoY); IFRS net profit was RMB 703.6–704 million (+28–28.2% YoY).

• SaaS (FinTech) revenue grew 59.5–60% YoY, contributing 48% of total revenue.

• Credit impairment charge rose 61% YoY to RMB 1.67–1.678 billion, mainly due to business scale growth and higher used car proportion.

• Cash and cash equivalents at RMB 4.68 billion as of June 2026; total borrowings at RMB 32.4 billion.

Outlook and guidance

• Expects continued industry consolidation and standardization, with technology-driven players gaining share.

• Full-year 2026 profit growth guidance set at 20%.

• Focus on leveraging AI and technology to drive efficiency, cost reduction, and new business opportunities.

• International business to expand into Thailand by year-end, with Indonesia and Vietnam targeted for 2027.

• Anticipates rising contribution from international business and ongoing investment in R&D.