專欄詠竹坊

Strong NEV sales keep Yixin on pace with China’s sluggish auto market

The online car loan facilitator’s business is growing at a similar pace to China’s auto market, which has decelerated after years of strong growth

This article only represents the author's own views.

It may not be zooming anymore, but online car loan facilitator Yixin Group Ltd. (2858.HK) seems to still be cruising along – albeit at reduced speed – in a wobbly Chinese auto market.

Last week, the company said the total number of transactions processed on its auto financing platform grew about 10% in the first quarter from a year earlier, roughly on par with a 10.6% increase in Chinese vehicles sales during the three months. In value terms, Yixin facilitated 16.1 billion yuan ($2.2 billion) in vehicle sales during the quarter, about 8% more than the year-earlier period.

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