HK Stock Market Move | YIXIN(02858) rose more than 21%, AI empowers consumer finance risk control and other fields. The company is the largest internet car finance trading platform in the country.

YIXIN (02858) rose more than 21%, as of the time of writing, up 17.8% to HK$1.39, with a trading volume of HK$2.25 billion. Guotai Junan stated that AI is gradually being applied in various scenarios such as securities research and consulting, banking credit and marketing channels, insurance agent empowerment, point-of-sale and marketing for small and micro businesses, consumer finance risk control and customer service, with vast potential for the future. Public information shows that YIXIN is China's largest internet automotive financial trading platform, which will begin large-scale application of AI in 2024. Currently, AI technology has been widely used in the entire business process including marketing, video facial recognition, and customer service, effectively improving operational efficiency and risk management capabilities. Furthermore, YIXIN previously signed a strategic cooperation agreement with the wholly-owned subsidiary of Contemporary Amperex Technology, Era Electric Service Technology Co., Ltd., to jointly explore innovative battery exchange service models to meet the full life cycle vehicle needs of new energy vehicles, and promote the healthy and sustainable development of battery exchange ecology. It is reported that the penetration rate of new energy vehicles in YIXIN's new car financing business is close to 50% at present.