Yixin Group adjusted net profit last year4.3.9 billion half-year increase of 27%

Yixin Group adjusted net profit last year4.3.9 billion half-year increase of 27%
On March 26, the auto finance trading platform Yixin Group (02858.Hong Kong) released its annual results report as of December 31, 2019.The financial report shows that the total revenue was 5.8 billion yuan (RMB, the same below), an increase of 5%; the adjusted net profit reached 4.3.9 billion US dollars, an annual increase of 27%.The initial net profit was 31 million yuan, and the net profit in the same period in 20181.6.7 billion.The overall development of the Chinese auto market will be difficult in 2019.According to data from China Association of Automobile Manufacturers and China Automobile Dealers Association, total sales of new and used cars and passenger cars in China fell by 4% in 2019.Yixin Group’s auto financing transaction volume in 2019 increased by 8% year-on-year to 52.20,000, of which new and used car financing transactions accounted for 61% and 39%, respectively.The financial report shows that in 2019, Yi Xin cooperated with 12 banks and financial institutions to promote about 34.70,000 financing transactions, an increase of 141% in the past, accounted for 66% of the total automobile financing transactions for the whole year, in 2018 this proportion was only 30%.At the same time, the company’s loan business revenue may exceed 210%, reaching 16.6.8 billion yuan.Thanks to the growth of the loan assistance business, Yixin’s total revenue in 2019 increased by 5% to 5.8 billion yuan per year.The company’s core business’s new revenue in the current period (including loan-facilitated transactions and new self-operated financial leasing transaction revenue during the year) increased by 21% to 25.1.9 billion yuan.Regarding the impact of the recent epidemic outbreak, Yi Xin admitted in its annual report that it will face pressures including the decline of mass consumption capacity and the continued decline of China’s car sales in 2020. Yi Xin will make full use of company resources to provide consumers with better financing productsServices; at the same time and working closely with dealer partners and other partners to find more development opportunities in the industry challenges.Sauna, Ye Wang Chen Weicheng Editor Yue Caizhou Proofreading Li Ming