Yixin Group Limited — Earnings Release 2018

Nov 28, 2018

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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YIXIN GROUP LIMITED 易鑫集團有限公司

(incorporated in the Cayman Islands with limited liability and carrying on business in Hong Kong as “Yixin Automotive Technology Group Limited”) (Stock Code: 2858)

(1) INSIDE INFORMATION UNAUDITED RESULTS FOR THE 2018 THIRD QUARTER OF OUR CONTROLLING SHAREHOLDER, BITAUTO HOLDINGS LIMITED; AND

(2) ADOPTION OF NEW COMPANY LOGO

(1) UNAUDITED RESULTS FOR THE 2018 THIRD QUARTER OF OUR CONTROLLING SHAREHOLDER, BITAUTO HOLDINGS LIMITED

This announcement is issued pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

The board (the “ Board ”) of directors (the “ Directors ”) of Yixin Group Limited 易鑫集团有限公司 (“ Yixin ” or the “ Company ” and together with its subsidiaries and consolidated affiliates entities, the “ Group ”) is pleased to announce certain information relating to the unaudited operational and financial performance of the Group (the “ Business Performance ”) for the third quarter ended September 30, 2018 (the “ 2018 Third Quarter ”).

On November 28, 2018 (6:11 a.m. US ET), Bitauto Holdings Limited (“ Bitauto ”), a company listed on the New York Stock Exchange (the “ NYSE ”) (NYSE: BITA) in the United States and a controlling shareholder of the Company, publicly released its unaudited results for the 2018 Third Quarter (“ Bitauto Earnings Release ”). The Bitauto Earnings Release contains references relating to the Business Performance of the Company for the 2018 Third Quarter. If you wish to review the Bitauto Earnings Release issued by Bitauto, please visit http://ir.bitauto.com. The Bitauto Earnings Release is also available in the public domain.

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The financial results of Bitauto, including those contained in the Bitauto Earnings Release, have been prepared in accordance with Generally Accepted Accounting Principles (“ GAAP ”) of the United States (“ U.S. GAAP ”), which are different from International Financial Reporting Standards (“ IFRS ”). We use IFRS to prepare and present our financial information. As such, the financial information and additional financial measures, including adjusted net profit (“ Non-GAAP net income ”), which are unaudited and not required by, or presented in accordance with IFRS, in the Bitauto Earnings Release is not directly comparable to the financial results the Company discloses as a company listed on The Stock Exchange of Hong Kong Limited.

Our shareholders and potential investors are advised that the financial results contained in the Bitauto Earnings Release are unaudited and have not been prepared or presented by the Company and there is no indication or assurance from the Company that the financial results of our Group for the 2018 Third Quarter will be the same as those presented in the Bitauto Earnings Release.

To ensure that all our shareholders and potential investors have equal and timely access to the information pertaining to the Company, set forth below are the key highlights of financial and other information published by Bitauto in the Bitauto Earnings Release that relate to the Company, some of which may constitute inside information of the Company.

“Yixin Third Quarter 2018 Highlights

In the third quarter of 2018, Bitauto’s controlled subsidiary Yixin, the primary operator of the Company’s transaction services business, facilitated approximately 123,000 financed automobile transactions, with the aggregate loan amount of approximately RMB9.8 billion, through its loan facilitation services and self-operated financing business. In particular, Yixin’s third-party loan facilitation transactions continued to gain momentum, contributing approximately 24% of the total financed automobile transaction volume in the third quarter, up from 19% in the previous quarter. In the third quarter of 2018, through its loan facilitation services for partner banks, Yixin facilitated approximately 30,000 financed automobile transactions, a year-over-year increase of approximately 300 times, and approximately RMB2.2 billion amount in auto financing.

In the third quarter of 2018, under U.S. GAAP, Yixin’s total revenues reached RMB1.38 billion (US$200.7 million); gross profit reached RMB610.5 million (US$88.9 million); net loss was RMB3.9 million (US$0.6 million) and Non-GAAP net income was RMB121.6 million (US$17.7 million). Yixin’s Non-GAAP net income is calculated as net loss excluding sharebased compensation of RMB89.9 million (US$13.1 million), amortization of intangible assets resulting from asset and business acquisitions of RMB35.7 million (US$5.2 million), and offset by tax effect of RMB0.04 million (US$0.01 million). In the third quarter of 2018, Yixin entered into certain transactions with other subsidiaries of Bitauto, which have been eliminated upon Bitauto’s consolidation of Yixin. The revenue that Yixin recorded for the services provided to those subsidiaries of Bitauto amounted to RMB4.1 million (US$0.6 million).

As of September 30, 2018, Yixin had cash and cash equivalents and restricted cash of RMB5.73 billion (US$834.9 million), total finance receivables of RMB38.00 billion (US$5.53 billion), and total borrowings, including bank borrowings and asset-backed securitization debt, of RMB31.65 billion (US$4.61 billion).

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As of September 30, 2018, 90+ days (including 180+ days) past due ratio and 180+ days past due ratio for Yixin’s self-operated financing business were 1.04% and 0.53% respectively; 90+ days (including 180+ days) past due ratio and 180+ days past due ratio for all financed transactions including the third-party loan facilitations were 0.97% and 0.49% respectively.

Under U.S. GAAP, Yixin’s provision for credit losses of finance receivables in the third quarter of 2018 was RMB130.6 million (US$19.0 million). The balance of provision for credit losses of finance receivables was RMB276.3 million (US$40.2 million) as of September 30, 2018.”

The Business Performance for the 2018 Third Quarter contained in this announcement represents preliminary statistics and a preliminary assessment based on the management accounts of the Group and such information has not been audited or reviewed by the Company’s auditor.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

(2) ADOPTION OF NEW COMPANY LOGO

The Board announces that the Company has adopted a new logo with effect from November 28, 2018. The Company’s old and new logos are set out below for identification purpose.

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� (old logo) (new logo)

The new logo will be printed on all corporate documents of the Company, including but not limited to interim and annual reports, announcements, circulars, press releases, corporate stationery, and used in its website.

New share certificates of the Company bearing the new logo will be issued. The change of Company logo will not affect any of the rights of the existing shareholders of the Company. All the existing share certificates of the Company in issue bearing the old logo will continue to be effective as documents of title to such shares of the Company and be valid for trading, settlement, registration and delivery purposes. Accordingly, there will not be any arrangement for the free exchange of the existing share certificates for new share certificates bearing the Company’s new logo.

By Order of the Board Yixin Group Limited 易鑫集团有限公司 Andy Xuan Zhang Chairman

Hong Kong, November 28, 2018

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As at the date of this announcement, the Board comprises Mr. Andy Xuan Zhang as Chairman and executive Director and Mr. Dong Jiang as executive Director, Mr. James Gordon Mitchell, Mr. Jimmy Chi Ming Lai, Mr. Chenkai Ling and Mr. Xuyang Zhang as non-executive Directors, and Mr. Tin Fan Yuen, Mr. Chester Tun Ho Kwok and Ms. Lily Li Dong as independent nonexecutive Directors.

This announcement may contain forward-looking statements. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this announcement. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forwardlooking statements may prove to be incorrect and may not be realised in future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this announcement should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved. Shareholders and potential investors should therefore not place undue reliance on such statements.

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