Gelonghui, May 9, 丨 Yixin Group (02858.HK) announced that in the first quarter of 2024, the group maintained steady growth. The company has financed approximately 171,000 automobile transactions, including new passenger cars and used passenger cars. Compared to the first quarter of 2023, the year-on-year increase was approximately 10.2%. The total amount of financing for the first quarter of 2024 reached approximately RMB 16.1 billion. Among them, new car financing transactions increased by about 8.5% year on year to about 92,000, and used car financing transactions increased by about 12.3% year on year to about 79,000. Notably, in the first quarter of 2024, financing transactions for new energy vehicles (including new cars and used cars) surged about 88.6% year over year to about 28,000.

The company's Fintech (SaaS) business achieved significant growth, generating approximately RMB 3.9 billion in financing in the first quarter of 2024, an increase of 264.4% over the first quarter of 2023. The contribution of the company's fintech (SaaS) business to total financing increased from about 7.2% in the first quarter of 2023 to about 24.3% in the first quarter of 2024. The company continues to deepen cooperation with regional commercial banks (including Bank of Nanjing) and enhance the company's products and market share in the high-end market through cooperation with more well-known brands (such as Porsche).

The Value-Added Services segment recorded approximately 94,000 transactions in the first quarter of 2024, an increase of about 33.7% year over year in the first quarter of 2023. The company's battery GAP insurance products are popular, covering about 37.7% of the company's new electric vehicles, which is equivalent to about 9,000 transactions in the first quarter of 2024.