Tuhu-W (09690) announced its annual results for the period ending December 31, 2025. The group recorded revenue of RMB 164.62 billion, representing an increase of 11.5% compared to the previous year. Gross profit reached RMB 39.68 billion, up 5.9% year-on-year. Adjusted net profit amounted to approximately RMB 7 billion, reflecting a growth of 12.2% over the same period last year.

In 2025, the group achieved an acceleration in revenue growth compared to the previous year. Annual total revenue reached RMB 165 billion, rising by 11.5% from RMB 148 billion in 2024. By revenue, the company maintained its leading position as the top player in China's independent automotive service market.

During the period, consumer demand for cost-effective products continued to increase. The company attracted more customers through diversified product offerings and proactive price reduction strategies. As a result, the group achieved a gross profit of RMB 40 billion, representing a 5.9% year-on-year increase.

In 2025, the company maintained disciplined spending on promotional activities. Benefiting from its well-established brand image and positive user reputation, Tuhu-W continued to outpace the industry in user growth. Combined with ongoing optimization in fulfillment operations, the adjusted sales and marketing expense ratio decreased by 0.9 percentage points compared to the previous year.

The company strengthened its deployment of artificial intelligence technologies and their implementation across various application scenarios in 2025. Consequently, the adjusted research and development (R&D) expense ratio saw a slight increase of 0.1 percentage points year-on-year.

Additionally, adjusted operating and support expenses remained stable, while the adjusted general and administrative expense ratio improved by 0.1 percentage points compared to the previous year. As a result, total operating expenses—comprising adjusted operating and support expenses, R&D expenses, sales and marketing expenses, and general and administrative expenses—amounted to RMB 36 billion in 2025, accounting for 21.8% of revenue. This represented a reduction of 0.9 percentage points compared to 2024.

In 2025, the group achieved an adjusted net profit of RMB 7 billion, marking a 12.2% increase from 2024. As of the end of the reporting period, the company held total cash exceeding RMB 83 billion, demonstrating ample financial reserves.