TUHU-W (09690) released its annual financial results, with adjusted net profit of approximately 700 million yuan, a year-on-year increase of 12.2%.

TUHU-W (09690) announced its annual performance for the year ending December 31, 2025. The group achieved a revenue of 16.462 billion yuan (same below), an increase of 11.5% year-on-year; gross profit of 3.968 billion yuan, an increase of 5.9% year-on-year; and adjusted net profit of approximately 700 million yuan, an increase of 12.2% year-on-year. In 2025, the group achieved an acceleration in revenue growth. The total revenue for the year reached 16.5 billion yuan, a 11.5% increase compared to the same period in 2024, securing the company's position as the top player in the domestic independent automotive service market in terms of revenue. During the period, consumer demand for cost-effective products continued to rise, and the company attracted more consumers through its diversified product capabilities and proactive pricing strategies, resulting in a total gross profit of 4 billion yuan, a 5.9% year-on-year increase. In 2025, the company maintained disciplined investment on the marketing side, but benefited from its deep-rooted brand image and good user reputation, leading the industry in user growth. Coupled with continuous optimization in delivery, the adjusted sales and marketing expense ratio decreased by 0.9 percentage points compared to the previous year. In 2025, the company strengthened the deployment of artificial intelligence technology capabilities and their continuous implementation in various application scenarios, resulting in a slight increase of 0.1 percentage point in the adjusted research and development (R&D) expense ratio year-on-year. Additionally, adjusted operating and support expenses remained stable, with a 0.1 percentage point improvement in the adjusted general and administrative expense ratio compared to the previous year. Therefore, in 2025, the total operating expenses for adjusted operating and support expenses, R&D expenses, sales and marketing expenses, general and administrative expenses amounted to 3.6 billion yuan, accounting for 21.8% of revenue, a decrease of 0.9 percentage points compared to 2024. In 2025, the group achieved an adjusted net profit of 700 million yuan, a 12.2% increase compared to 2024. As of the end of the reporting period, the company had a cash reserve of over 8.3 billion yuan, ensuring sufficient funds.