YIXIN (02858) announces preliminary annual performance with a net profit of 810 million yuan, a year-on-year increase of 46%.

YIXIN (02858) announced its preliminary annual performance for the year ended December 31, 2024, with a group revenue of RMB 9.888 billion, a year-on-year increase of 48%; net profit of RMB 810 million, a year-on-year increase of 46%; proposed a final dividend of HK$0.065 per share and a special dividend of HK$0.065 per share. The announcement stated that YIXIN, with its strategic foresight and strong operational capabilities, achieved remarkable results in 2024. The group leveraged its competitive advantage in the auto finance sector, achieving comprehensive business growth and historic financial performance. In 2024, the group's revenue reached RMB 9.9 billion, a year-on-year increase of 48%, and the group's adjusted net profit exceeded RMB 1 billion for the first time, a year-on-year increase of 19%. This milestone marks the group's entry into a new growth stage. This achievement not only demonstrates the group's resilience and execution in a challenging market environment but also reflects its ability to seize opportunities and promote innovation. Looking ahead, the group will strengthen its strategies in the new energy and financial technology fields, as well as enhance partnerships with industry players to solidify its market position. The company firmly believes that by continuously surpassing goals and creating greater value for shareholders, customers, and the industry, YIXIN will continue to drive high-quality development in the auto finance sector. In 2024, the group processed a total of 726,000 financing transactions (including new and used cars), a year-on-year increase of 7%. The total financing amount reached RMB 69.1 billion, a year-on-year increase of 5%. In the field of new energy passenger vehicles, the total number of new energy vehicle financing transactions (including new and used cars) reached 175,000 in 2024, a year-on-year increase of 51%. The group's assets under management steadily increased, with the total automotive finance assets managed reaching RMB 108.1 billion as of December 31, 2024. As of December 31, 2024, the group's asset quality continued to improve and demonstrated strong resilience, with the 90-day overdue rate falling to 1.86%.