HK Stock Market Move | YIXIN (02858) rose more than 8% during the day. In the first quarter, the financial technology platform promoted a year-on-year increase of 56.5% in financing amount.

YIXIN (02858) surged more than 8% during trading hours, and at the time of reporting, it was up by 6.16%, trading at 2.24 Hong Kong dollars with a turnover of 1.27 billion Hong Kong dollars. In terms of news, recently, YIXIN released business updates and operational data for the first quarter of this year. During the period, the volume of car financing transactions (including new and used cars) reached 172,000 transactions, with a corresponding financing amount of 15.3 billion yuan. The volume of used car financing transactions increased by approximately 31.9% to around 104,000 transactions, with a financing amount of about 6.1 billion yuan facilitated by financial technology platforms, achieving a strong year-on-year growth of 56.5%. In the first quarter, YIXIN has launched four new cooperation projects and continues to deepen its cooperation with state-owned commercial banks. The founder stated that as a leading third-party car finance company, YIXIN has a distinctive high dividend characteristic, with a dividend of 0.13 Hong Kong dollars per share in the past 24 years and a dividend payout ratio of over 100%, corresponding to a dividend yield of 6% as of 25/5/14. The company also has strong confidence in future growth, and its performance is expected to continue its high growth trend from the past 25 years, hence receiving a "strong buy" rating.