News for Yixin Group Limited (2858.HK)

Aug 18, 2023 / 02:00AM GMTOperator Dear investors and analysts, good morning. Welcoming you to come to the 2023 Interim Results Conference of Yixin. Our confere

Key Takeaways: Yixin will sell its 49% stake in a 2-year-old joint venture to partner Qingdao Caitong, which wants to expand into areas beyond the venture’s original auto leasing services Yixin’s auto financing business is growing despite an unsteady Chinese car market, fueled by booming demand for electric vehicles

Cango reported its Q1 financial results on June 8. The firm operates a new and used car trading platform in China. Click here to see our take on CANG stock.

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Key Takeaways: Total auto financing facilitated by Yixin in the first quarter increased 8%, as China’s passenger vehicle sales fell about 1% during the period Despite a weak overall China car market, Yixin benefitted from relatively strong demand for electric vehicles driven by a government push for environmentally friendly cars

Key Takeaways: Yixin’s financing for sales of electric vehicles surged 225% to 1.3 billion yuan in the third quarter, becoming the new growth engine for the car-loan facilitator The market for used vehicles, which was slowed by the pandemic, will weigh on the company’s fourth-quarter performance

Autohome’s revenue rose strongly on a sequential basis in the second quarter despite a year-on-year decline, sparking a rally for its stock. Read more here.

Autohome’s adjusted net income tumbled 40% during the first quarter, less than the 50% drop expected by the market.

Key Takeaways: Autohome’s adjusted net income tumbled 40% during the first quarter, less than the 50% drop expected by the market. Relieved investors sent the share price soaring 19% over three trading days

Professional team to attain new heights of the industry....