Yixin Group turned losing losses in the first half of the year, and the income of new energy and used car financing business soared

On September 6, reporter Zhou Ju, a reporter from Economic Observation Network, officially released the performance report of the first half of 2022 in the first half of 2022. Data show that the operating income of Yixin Group in the first half of the year was 2.452 billion yuan, an increase of 73.22%year -on -year, and the net profit attributable to the parent company was 124 million yuan, a year -on -year loss. As a reference, Yixin Group was 135 million yuan in the same period last year.

Yixin Group said that the company's revenue growth in the first half of the year was mainly due to the rapid growth of the trading platform business. Data show that the new income of Yixin Group's core business (including the income of the loan in the reporting period to promote services and the income of new self -operated financial leasing transactions) increased from RMB 752 million in the same period last year to RMB 119%to RMB 1.647 billion Yuan.

Yixin Group is a company in China that is mainly engaged in Internet car retail trading platforms. Generally speaking, the business of Yixin Group can be divided into two parts, which are trading platform business, and self -operated financing business.

Among them, the trading platform business mainly includes consumer car purchase transactions, promoting the company's automotive financing partners to provide consumers with automobile loans, and providing value -added services such as car dealers' networking systems for car dealers. Automobile financing partners and insurance companies provide advertising and membership services; self -employed financing business is mainly through financing leasing and operating leasing to provide consumers with automobile financing solutions.

Data show that in the first half of this year, the proportion of revenue of the Yixin Group trading platform business and self -employed financing business was 76:24. Among them, the trading platform business accounted for 76%of the total revenue in the first half of the year, a significant increase of 19 percentage points compared with 57%in the same period last year. In the trading platform business, the income generated by the service promoted by loans increased from 673 million yuan in the same period last year to 1.518 billion yuan. The gross profit margin of the trading platform business is also significantly higher than the self -operated financial leasing business. Among them, the gross profit margin of the Yixin Group's trading platform is 55%, and the net interest income of the self -operated financial leasing business is only 5.6%.

Since Yixin Group transferred the advertising business, the strategic position of the loan -aid business in the Yi Xin Group is continuously increasing, and the income proportion will increase again after half of 2021. New energy vehicles and used cars have become the growth engine of its loan -aid business.

Data show that in the first half of the year, Yixin Group's financing volume of new energy vehicles was 12,000, a year -on -year increase of 135%. New energy vehicle financing was 1.186 billion yuan, an increase of 172%year -on -year. The Yixin Group said that the penetration rate of the company's new energy vehicle business has increased from 6%in June last year to 16%in June this year, an increase of 10 percentage points.

Yixin Group said that it has established a partnership with new energy vehicle manufacturers such as ideal cars, Nezha, and Weilai Automobile this year. In 2021, GAC Ean, which cooperated in 2021, contributed 30%of the total amount of new energy vehicle financing transactions in Yixin Group in the first half of this year.

In terms of second -hand cars, the second -hand car financing transactions of Yixin Group accounted for 56%of the total financing transactions, and 32%of the same period last year. The number of second -hand cars in financing was 150,000, an increase of 102%year -on -year. The amount of second -hand car financing was 14.1 billion yuan, an increase of 170%year -on -year.

However, the number of new car financing transactions in Yixin Group in the first half of the year decreased by only 16,000, a year -on -year decrease of 24%, and the financing amount was 10.9 billion yuan, a year -on -year decrease of 16%. Yi Xin Group said that this is mainly due to the epidemic terminal and the group's adjustment strategy, and the group has invested more energy and resources in the used car financing business.

While the loan -aid business increased at a high speed, the income of Yixin Group's self -operated financing business declined year -on -year. The income of the business in the first half of the year was 577 million yuan, a decrease of 5%year -on -year. Yixin said that the reason for the revenue generated by financial leasing services was reduced. During the reporting period, the revenue generated by the financial leasing business of Yixin Group was 566 million yuan, a decrease of 4%year -on -year.

In the first half of the year, the earnings of the financial leasing business of Yixin Group declined. Data show that in the first half of the year, the average yield of the net amount of financial leases received by Yixin Group was 9.4%, while the same period last year was 9.8%, a decrease of 0.4 percentage points. Yixin Group said that this is mainly due to its provision of lower -interest products to customers with better credit records.

Yixin Group emphasized that as of June 30, 2022, the company's overdue rate of more than 90 days dropped from 2.18%on June 30, 2021 to 1.94%.

In addition, it is worth noting that the revenue from the SaaS (software service) service in the first half of the year was RMB 43 million, accounting for 2%of the total revenue. Yixin Group said that through SaaS services, it has established a technical platform and application to connect financial institutions with automobile financial customers. It pointed out that in the long run, this model will release scarce funds and tap the entire automotive financing market with a scale of over RMB 2 trillion.

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