Yixin Group (2858) H2 2025 earnings summary

Executive summary

• Achieved record revenue of RMB 11.56 billion in 2025, up 17% year-over-year, with gross margin rising to 56% and adjusted net profit increasing 33% to RMB 1.43 billion.

• SaaS revenue surged 150% to RMB 4.5 billion, now 39% of total revenue, driven by technology and business mix optimization.

• Used car financing volume reached RMB 42.1 billion, up as much as 58%, with total auto financing transactions at 844,000 units.

• Launched industry-first agentic AI model, XingMM-AM1, and expanded AI-driven risk management across the value chain.

• International business achieved stable profitability in Singapore and rapid market entry in Malaysia, ranking top three among non-bank auto finance providers.

Financial highlights

• Gross profit increased to RMB 6.46 billion, up 39% year-over-year, with gross margin improving from 47% to 56%.

• Adjusted net profit was RMB 1.43 billion, up 33% year-over-year; non-IFRS net profit reached RMB 1.4 billion.

• Operating profit rose 50% to RMB 1.70 billion; adjusted operating profit reached RMB 2.04 billion, up 42%.

• SaaS business accounted for 39% of total revenue, growing 1.5x year-over-year.

• Cash and cash equivalents stood at RMB 4.51 billion; total borrowings at RMB 31.28 billion.

Outlook and guidance

• Plans to deepen AI agent strategy across pre-, in-, and post-financing stages, aiming for higher efficiency and risk control.

• Targeting further international expansion in Southeast Asia, with Malaysia, Indonesia, Thailand, and Vietnam as next markets.

• Aims to become market leader in Malaysia by 2026 and achieve profitability.

• Dividend payout proposed at HK10.0 cents (final) and HK4.0 cents (special) per share, totaling ~RMB839 million.