Yixin Group Ltd. reported a 31% year-on-year increase in adjusted net profit to RMB 850 million for the first half of 2026, as revenue rose 13% to RMB 6.18 billion. The Hong Kong-listed auto financing platform’s shares fell 3.77% to close at HKD 1.275, extending declines from a 52-week high of HKD 3.30.
Operating revenue growth was supported by a 60% surge in FinTech and SaaS revenue to RMB 3 billion, while the platform business accounted for 80% of total revenue, up 15% year-on-year. Gross margin expanded to 65% from cost optimization and a richer business mix, while the platform segment’s gross profit rose 38% to nearly RMB 4 billion with a 55% margin.
Auto financing transaction volume reached RMB 27 billion in H1 2026, up 13% year-on-year, covering 428,000 units. New car financing grew 18% to RMB 17.1 billion, while used car financing rose 9% to RMB 19.9 billion. New energy vehicle financing jumped 37% to RMB 13.8 billion, representing about 64% of new car financing. Cumulative auto financing transaction volume surpassed RMB 500 billion by the end of June 2026.
Credit impairment charges increased 61% year-on-year to RMB 1.67 billion, while the operating expense ratio rose 2.5 percentage points to 22.6%. ABS and ABM coupon rates are expected to remain within a range of 1.5% to 2% in the second half of 2026.
Yixin’s dealer network expanded to over 43,000 across mainland China, including Tibet and Xinjiang, while partnerships with more than 100 financial institutions were maintained. The company’s FinTech core client base grew from 64 in H1 2025 to 81 in H1 2026. AI-driven automation processed 230,000 tasks daily, with overall efficiency improving by 45.4%.
International operations generated US$150 million in transaction volume, with leading positions in Singapore and Malaysia. Expansion into Thailand is planned by year-end 2026, followed by Indonesia and Vietnam in 2027.
China’s new passenger vehicle sales fell 6% year-on-year in H1 2026 to 12.72 million units, while used car transactions declined 1.5% to 7.45 million units. New energy vehicle passenger vehicle sales decreased 14% year-on-year during the same period.
