YONGDA AUTO (03669) announced its interim results for the six months ended June 30, 2025, reporting total revenue of 27.072 billion yuan (RMB) and gross profit of 2.37 billion yuan.

According to the announcement, new vehicle sales volume reached 72,501 units in the first half of 2025, representing a 13.4% year-on-year decline. Revenue from new vehicle sales and related services totaled 20.532 billion yuan, down 14.4% compared to the same period last year. The gross profit margin for new vehicle sales and related services was 1.03%, declining by 0.61 percentage points year-on-year.

The first half of the year witnessed intensified industry competition, with some brands and dealers adopting aggressive price reduction and promotional strategies to capture market share. This led to continuous downward pressure on new vehicle selling prices, resulting in reduced per-unit gross profit. Given the current competitive market environment, the group proactively adjusted its new vehicle business strategy during the first half, shifting its core objective from "volume-driven growth" to "balanced volume and profitability," which to some extent impacted short-term sales volume.

The group actively communicated with manufacturers to achieve reductions in wholesale and retail assessment targets. It also increased investments in new customer acquisition channels such as short videos, live streaming, and social media platforms. Furthermore, the company strengthened tracking and management of process indicators including potential customer store visit rates, conversion rates, and transaction cycles, effectively improving lead conversion rates.

In terms of sales volume, the group's independent new energy brand vehicle sales reached 10,312 units in the first half of 2025, representing a 49.0% year-on-year increase. This included 4,455 units through dealership model and 5,857 units through direct sales model. As the group's represented products continue to develop toward the premium segment, the average selling price of new vehicles reached 267,300 yuan in the first half of this year. With vehicles such as the Zunje S800 scheduled for large-scale delivery in the second half, the group believes this will drive further growth while maintaining a stable comprehensive gross profit margin per new vehicle above 4%.

By the end of the first half of this year, outstanding orders for independent new energy brands reached nearly 6,000 units, laying a solid foundation for continued business growth in the second half.