The Zhitong Finance App learned that Yixin Group (02858) rose by more than 13%. As of press release, it had risen 11.11% to HK$0.8, with a turnover of HK$235.776 million.
According to the news, Yixin Group previously released some business updates and unaudited operating data for the first quarter of 2024. The company's total 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, financing transactions for new energy vehicles (including new and used cars) surged about 88.6% year over year to about 28,000 in the first quarter of 2024.
The announcement also showed that Yixin Group's value-added services recorded about 94,000 transactions in the first quarter of this year, an increase of about 33.7% over the previous year. Among them, the company's battery GAP insurance products covered about 37.7% of the company's new energy vehicle transactions during the same period. With the gradual opening up of service space in the automotive aftermarket, the business is also expected to usher in new breakthroughs.