Yixin Group Limited — Earnings Release 2020

Jun 12, 2020

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)

INSIDE INFORMATION UNAUDITED RESULTS FOR THE 2020 FIRST 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易鑫集團有限公司 (“ Yixin ” or the “ Company ” and together with its subsidiaries and consolidated affiliated 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 first quarter ended March 31, 2020 (the “ 2020 First Quarter ”).

On June 12, 2020 (6:03 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 2020 First Quarter (“ Bitauto Earnings Release ”). The Bitauto Earnings Release contains references relating to the Business Performance of the Company for the 2020 First 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.

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, which is 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.

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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 2020 First 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 First Quarter 2020 Highlights

Bitauto’s controlled subsidiary Yixin, the primary operator of the Company’s transaction services business, facilitated approximately 52,000 financed transactions for the three months ended March 31, 2020, representing a year-over-year decrease of approximately 64.6%. The decrease was primary due to the sharply decreased trading volume of China automobile transactions and lowered customer consumption capabilities caused by the outbreak of COVID-19. The total aggregate financing amount facilitated through Yixin’s loan facilitation services and self-operated financing business was approximately RMB3.90 billion (US$0.55 billion).

Amid the challenging macroeconomic environment, Yixin continued to adopt conservative risk control methodology and to focus on its loan facilitation services. For the three months ended March 31, 2020, Yixin facilitated approximately 50,000 financed transactions, representing a year-over-year decrease of 48% and approximately 96% of Yixin’s total financed transactions.

In the first quarter of 2020, under U.S. GAAP, Yixin’s total revenues were RMB862.0 million (US$121.7 million), representing a year-over-year decrease of 48.1%; new core services revenues, which include revenues from loan facilitation transactions and new self-operated financing lease transactions facilitated by Yixin during the period, were RMB221.2 million (US$31.2 million), representing a year-over-year decrease of 56.7%.

As of March 31, 2020, 90+ days (including 180+ days) past due ratio and 180+ days past due ratio for all financed transactions (including third-party loan facilitations) were 2.60% and 1.55%, respectively.

Under U.S. GAAP, Yixin’s provision for credit losses of finance receivables in the first quarter of 2020 was RMB1.07 billion (US$150.6 million).”

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The Business Performance for the 2020 First 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 securities of the Company.

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

Hong Kong, June 12, 2020

As at the date of this announcement, the Directors are:

Executive Directors Mr. Andy Xuan Zhang and Mr. Dong Jiang Non-executive Directors Mr. James Gordon Mitchell, Mr. Jimmy Chi Ming Lai, Mr. Chenkai Ling and Mr. Huan Zhou Independent non-executive Directors Mr. Tin Fan Yuen, Mr. Chester Tun Ho Kwok and Ms. Lily Li Dong

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 forward-looking 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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