FAST NEWS: Yixin’s Auto Finance Growth Slows Sharply in First Quarter

The latest: Yixin Group Ltd. (2858.HK), an internet-based auto financier, announced its auto financing transactions totaled 151,200 in this year’s first quarter, up 27.06% year-on-year. The figure included financing transactions for 63,800 new car and 87,400 used car purchases. Looking up: The group’s new “after-market business” offering auto insurance, maintenance and care to car owners has grown steadily in recent years, with 70,700 transactions in the first quarter, up 13.9% from the same period last year. Take Note: The latest 27% growth in auto financing transactions is down sharply from…

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Yixin Fires on All Cylinders in a Troubled Auto Market

The Internet auto financier’s car transactions rose 27% year-over-year in the third quarter, far outperforming the sputtering market Key takeaways: Yixin has posted solid transaction volume growth following its transformation into a car loan broker New car shortage caused by tight global chip supply may pose challenges to the company By Jony Ho China’s GDP grew just 4.9% year-on-year in the third quarter amid a new round of Covid-19 outbreaks, with total retail sales up just 4.4% in September. The consumer spending growth was much lower than the 16.4% growth…

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