YIXIN (02858) half-year report demonstrates resilience: revenue increased by 13% to 6.2 billion; adjusted net profit rose by 31% to 850 million.

On August 19, YIXIN (02858, hereinafter referred to as "Yixin") disclosed its preliminary mid-term performance for 2026. The report showed that in the first half of the year, amidst overall pressures in the automotive industry, the company demonstrated strong counter-cyclical risk resistance capabilities through its robust operational strategy and technological empowerment, achieving dual improvements in business scale and operational quality. During the period, Yixin's automotive financing transaction volume reached 428,000 transactions, a year-on-year increase of 17.7%, with financing transaction amounts reaching 37 billion yuan (RMB, the same below), up 13.2% year-on-year; total revenue and adjusted net profit, among other core indicators, all saw double-digit growth year-on-year. Among them, the fintech sector, as a core business engine, showed impressive performance, facilitating financing amounts of 26.3 billion yuan, an increase of 72.2% year-on-year. Business scale grows against the trend, with concurrent revenue and profit increases The domestic automotive industry is currently still in a deep adjustment period. According to statistics from the China Association of Automobile Manufacturers and the China Automotive Dealers Association, total sales of passenger cars (including new and used cars) in China decreased by 4.4% year-on-year in the first half of the year. Simultaneously, as regulation tightens and compliance requirements strengthen, the "Matthew effect" in the automotive finance industry has become increasingly evident, with market share continuously concentrating towards platform enterprises that have advantages in capital, channels, technology, and risk control. Against this backdrop, Yixin has adhered to a steady development approach, continuously consolidating its core business capabilities, and achieving reverse growth in business performance. Data shows that in the first half of the year, the company achieved a financing transaction volume of 428,000 for automobiles, a year-on-year increase of 17.7%; the financing transaction amount increased by 13.2% to 37 billion yuan. Among these, the transaction volume for used car financing increased by 23% year-on-year to 273,000 transactions; the corresponding financing transaction amount reached 19.9 billion yuan, an increase of 9.3% year-on-year, with its proportion of total automotive financing rising to approximately 54%, further optimizing the business structure. This achievement stems from Yixin's continued implementation of a differentiated competition strategy. In the used car business, the company has been deepening its channel layout, expanding coverage of long-tail customers, optimizing service processes, and implementing precise risk pricing, continuously improving customer conversion rates while ensuring risk is manageable. Yixin stated that although the used car market remained roughly flat year-on-year in the first half of the year, the company holds an optimistic view on the long-term growth potential in this area. The growth and structural optimization of core businesses have directly driven increases in the company's revenue and profits. According to the report, in the first half of the year, Yixin achieved total revenue of approximately 6.2 billion yuan, a year-on-year increase of 13.3%; net profit was approximately 704 million yuan, an increase of 28.2% compared to the same period last year; adjusted net profit grew year-on-year by 31.2% to approximately 850 million yuan. Fintech continues to see high growth, with significant effects of AI empowerment As a strategic pillar of the company, the fintech (SaaS) business continued its rapid growth trend in the first half of the year, becoming the core growth engine driving overall performance. During the period, the revenue of this business grew by 59.5% year-on-year to nearly 3 billion yuan; financing amounts facilitated through the Jinko platform reached 26.3 billion yuan, a year-on-year increase of 72.2%. As of the end of June this year, the Yixin Jinko platform has established partnerships with approximately 80 financial institutions, further enhancing the diversity of platform solutions and market penetration. Yixin stated in the report that as the industry shifts from "scale-driven" to a dual focus on efficiency and compliance, the value of fintech solutions in enhancing transaction efficiency and optimizing risk management has become more evident. The high growth of the Jinko business is supported by Yixins continuous enhancement of technological innovation. In the first half of the year, Yixin deepened the end-to-end integration of AI across the entire operational chain. Leveraging its self-developed Agentic model matrix and Agentic AI Harness engineering framework, its intelligent capabilities have covered core aspects such as telemarketing, application processing, risk management, customer service, and asset management, significantly improving operational efficiency and service quality. During this period, 90% of Yixin's business processes were autonomously driven by automotive finance Agentic AI, resulting in a 45.4% increase in operational efficiency. Additionally, Yixin has made substantial progress in its overseas market expansion. In the first half of 2026, the company continued to strategically focus on Southeast Asia to expand its overseas footprint, achieving approximately 150 million US dollars in international business financing, maintaining a leading position among non-bank automotive finance service providers in Singapore and Malaysia, and planning to gradually expand to new markets such as Thailand in the second half of the year, with expectations for an increased contribution from overseas business revenue. Looking to the future, Yixin stated that it will continue to uphold a proactive and prudent operational philosophy, deepen AI practices, and rely on advantages in technology, risk control, and channels to steadily expand market share while ensuring asset quality, striving to achieve strong annual performance.