YIXIN (02858) surged over 9%, rising 9.22% to HK$3.2 with trading volume of HK$200 million as of press time.

On the news front, YIXIN achieved revenue of RMB 5.452 billion in the first half of this year, representing a 22% year-on-year increase, while adjusted net profit reached RMB 648 million, up 28% year-on-year. Among these results, the financial technology (SaaS services) business, which serves as a core strategic focus, continued its rapid growth momentum in the first half of the year, becoming the primary driver of the company's performance.

Data shows that YIXIN's financial technology business generated approximately RMB 1.9 billion in revenue during the reporting period, surging 124.5% year-on-year. The total financing facilitated through the fintech platform reached RMB 15.3 billion, representing a 58.2% year-on-year increase.

Citi research notes indicate that the group expects stronger business performance in the second half compared to the first half, anticipating further improvement in H2 results building on the solid first-half performance. With enhanced profitability, the group will continue to reward shareholders and will not easily change its dividend commitments.

The bank has raised its revenue forecasts for the company for 2025 to 2027 by 0%, 2%, and 3% respectively, to RMB 11.6 billion, RMB 13.1 billion, and RMB 14.6 billion. Meanwhile, adjusted profit forecasts for each year have been increased by 9%, 21%, and 22% respectively, to RMB 1.42 billion, RMB 1.79 billion, and RMB 1.97 billion.

The firm has raised its target price from HK$2.1 to HK$3.5 while maintaining a "Buy" rating.