Yixin Group renews used auto services deal with Tencent subsidiary

Yixin Group, through its indirect wholly-owned subsidiary Shanghai Changtu, has renewed its Used Auto Services Strategic Cooperation Agreement with Jingzhengu, a subsidiary of Tencent, the company's controlling shareholder. The renewal, effective January 1, 2026, extends the agreement for three years until December 31, 2028, continuing existing connected transactions.

Under the renewed agreement, Jingzhengu will provide Yixin Group with used auto services, including valuation, inspection, and a free portal for customers to obtain used vehicle quotations, in exchange for a service fee. The new annual caps for the transaction are RMB50 million for 2026, RMB55 million for 2027, and RMB60 million for 2028. These caps were determined based on historical transaction amounts, anticipated increased demand, and a favorable reduction in unit price.

The transactions, which constitute continuing connected transactions under Chapter 14A of the Listing Rules, are subject to reporting, annual review, and announcement requirements. They are exempt from circular and independent shareholders' approval due to the highest applicable percentage ratio being more than 0.1% but less than 5%. The board considers the terms fair and reasonable and in the company's and shareholders' best interests.