TUHU-W (09690) announced its results for the six months ended June 30, 2025. The group achieved revenue of RMB 78.77 billion during the period, representing a year-on-year increase of 10.5%. Profit for the period reached RMB 307 million, up 7.8% year-on-year. Adjusted net profit totaled RMB 410 million, marking a 14.6% year-on-year increase. Basic earnings per share stood at RMB 0.4.

In the first half of 2025, the group achieved double acceleration in revenue growth, both year-on-year and quarter-on-quarter. During the reporting period, total revenue reached RMB 7.9 billion, compared to RMB 7.1 billion in the same period of 2024, representing a 10.5% year-on-year increase. Based on revenue calculations, the company maintained its leading market position in China's independent automotive services market.

During the period, against the backdrop of continued decline in industry average transaction values, the company continued to leverage its platform bargaining power to drive supply-side cost optimization. In the reporting period, the group achieved gross profit of RMB 2 billion, corresponding to a gross margin of 25.2%.

Facing the industry landscape of segmented demand and slowing consumption, the company continued to increase investment in brand building, customer acquisition, and support for franchisees and technicians. During this critical period, the company further enhanced user awareness and the health of its franchisee network to consolidate its leading advantages. The adjusted sales and marketing expense ratio increased slightly by 0.1 percentage point compared to the same period last year.

However, through AI capability deployment and the implementation of various efficiency improvement measures, the group continued to optimize operating and support expenses as well as general and administrative expenses. The adjusted expense ratios for these two categories improved by 0.3 and 0.1 percentage points year-on-year, respectively.

During the reporting period, the total operating expenses, comprising adjusted operating and support expenses, research and development expenses, sales and marketing expenses, and general and administrative expenses, amounted to RMB 1.8 billion, representing 22.4% of revenue, which continued to improve compared to the same period in 2024.

In the first half of 2025, the group achieved adjusted net profit of RMB 1.41 billion, an increase of 14.6% compared to the same period in 2024. During the period, the company's free cash flow reached RMB 347 million, up 32.2% compared to the same period in 2024. As of the end of the reporting period, the company held total cash of approximately RMB 7.5 billion, maintaining ample financial reserves.