Gelonghui, February 29丨Yixin Group (02858.HK) announced its annual results. For the year ended December 31, 2023, the annual financing transaction amount was RMB 65.9 billion, an increase of 24% over the previous year. Among them, the NEV business grew rapidly, and the financing transaction amount reached RMB 12.4 billion, an increase of 200% over the previous year. In 2023, the company's total revenue was RMB 6.686 billion, up 29% year on year; gross profit was RMB 3.247 billion, up 12% year on year; net profit was RMB 555 million, up 50% year on year; adjusted net profit was RMB 910 million, up 32% year on year. The board of directors has proposed a final dividend of HK3.00 cents per share.

During the reporting period, the Group's NEV financing transactions increased to 116,000 units, an increase of 206% over the previous year. The share of NEV financing in the new vehicle business continues to rise, reaching 33% in the second half of 2023. The Group actively promotes strategic cooperation with OEM brands. As of December 31, 2023, it has reached cooperation with over 10 new car builders and joined hands with 25 traditional joint venture OEMs in the new energy business.

During the reporting period, the amount of financing transactions facilitated by the Group through the financial technology model reached RMB 10.2 billion, achieving explosive growth. The vision of the company's fintech platform is to empower the entire auto finance industry chain and raise the digital level of the industry. By connecting car manufacturers, financial institutions and consumers, the platform exports complete automotive retail finance solutions. Through cooperation with high-end brands and urban commercial banks, we have strengthened our ability to reach high-end customers, and the implementation of regional services is more solid.

In 2023, the number of institutions that have signed up for Jinke's business further increased, and 9 new cooperation projects were launched. The SaaS system architecture is constantly being iterated, and functional platforms such as auto finance's core business system, operation management system, and customer management tools have been further packaged and improved. It is suitable for various transaction models such as loan facilitation and joint leasing, adapts to various business types such as new cars, used cars, and scenario installments, supports cloud and local multi-mode deployment, and technology products are further opened up to the industry. In the long run, this model will expand Yixin Group's serviceable market from specific market segments to the entire automotive consumer finance market. We expect that our SaaS business will continue to grow rapidly in the next 2 to 3 years.