YIXIN (02858) rose more than 7% in late trading. As of the time of writing, the stock was up 6.36% to HKD 2.51, with a turnover of HKD 65.6491 million.

Last month, YIXIN announced the renewal of its strategic cooperation agreement with Jing Zhen Gu for used car services, valid for a period of three years.

Western Securities pointed out that Tencent is the controlling shareholder of the company, and Jing Zhen Gu is a subsidiary of Tencent, indicating a continued deepening of cooperation with the Tencent-affiliated ecosystem.

Under the renewed agreement, Jing Zhen Gu will continue to provide used car valuation and related services for the company, which will pay corresponding service fees.

The existing annual cap under the previous agreement was RMB 50 million; following the renewal, the new annual cap has been raised to RMB 60 million. This increase in the cap reflects the company's confidence in the growing demand for its used car business.

Notably, Hong Kong Exchanges launched the HKEx Tech 100 Index, and the company was included as a constituent.

The institution noted that Hong Kong Exchanges has authorized E Fund Management to launch an ETF in the mainland that tracks the HKEx Tech 100 Index, which is expected to further enhance the company's liquidity.

Furthermore, the Q3 operational data showed a growth rate that outperformed the market, and full-year performance is expected to maintain strong growth.