股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: Yixin Group Limited 易鑫集团有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02858 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | USD | | 0.0001 | USD | | 1,500,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 15,000,000,000 | USD | | 0.0001 | USD | ...

Core Insights - Yixin (02858) has officially open-sourced its self-developed Agentic large model, YiXin-Agentic-Qwen3-14B, becoming the first company in the automotive finance industry to do so [1][2] - Yixin was recognized as the "Annual AI Application Scenario Breakthrough Enterprise" at the 36Kr "WISE 2025 Business King" conference, highlighting its leadership in AI innovation and application within the automotive finance sector [1] - The open-sourcing of the Agentic large model signifies Yixin's commitment to driving industry intelligence upgrades and accelerating the co-construction of the AI ecosystem [1][3] Model Features - YiXin-Agentic-Qwen3-14B is deeply optimized based on the Qwen3-14B model, showcasing superior reasoning, complex task handling, and multi-party collaboration capabilities, serving as an efficient intelligent engine for automotive finance and various professional scenarios [2] - The model ranks first in multiple performance tests among similarly parametered models, with reasoning costs reduced by one-third compared to the industry average [2] - It includes 100,000 proprietary training data points primarily sourced from Yixin's real business scenarios, ensuring high representativeness and proprietary value [2] - The model is equipped with a dedicated knowledge system and toolset for the financial sector, covering functions such as voice interaction, vehicle assessment, risk prevention, fraud detection, and compliance checks, forming a comprehensive intelligent support system [2] Open Source Strategy - Yixin proposes an open-source co-construction model addressing the challenges of industry intelligence transformation, which includes "open base - community co-construction - capability iteration - enterprise deployment - ecological prosperity" [3] - The open-sourced YiXin-Agentic-Qwen3-14B will complement Yixin's previously released industry-first open-source inference model, YiXin-Distill-Qwen-72B, creating a dual-technology matrix of "vertical base + Agentic brain" [3] - This initiative fills the gap in the automotive finance sector for professional open-source AI toolchains, enabling enterprises to implement AI applications within as little as one day, significantly lowering R&D costs and transformation barriers [3] Future Outlook - As an AI-driven fintech platform, Yixin aims to become the first company in China's automotive finance sector to file for generative AI large model registration by 2024, and to achieve large-scale AI application across all business scenarios [6] - By 2025, Yixin plans to lead the industry into a new phase of open collaboration by open-sourcing the first high-performance inference model and the Agentic large model [6] - The company will continue to deepen the integration of AI in the automotive finance sector, empowering domestic and overseas partners, and injecting new vitality and ideas into the industry's intelligent development [6]

作为AI驱动的金融科技平台，易鑫持续深耕科技创新：2024成为中国汽车金融领域首个通过生成式人 工智能大模型备案的企业，并率先在业务全场景实现AI大规模应用；2025年，开源业内首个高性能推 理模型和Agentic大模型，引领行业迈向开放共赢的新阶段。未来，易鑫将立足"技术开源+生态共建"的 路径，继续深化AI在汽车金融领域的融合应用，赋能国内及海外伙伴，为行业智能化发展注入新活力 与新思路。 据悉，YiXin-Agentic-Qwen3-14B是基于通义千问Qwen3-14B模型深度优化而成，具备卓越的推理、复 杂任务处理及多方协作的智能体能力，可为汽车金融与各类专业场景提供高效智能引擎。该模型在同参 数规模模型的多项性能测试中位列榜首，推理成本较行业平均水平降低三分之一。尤其在汽车金融垂直 领域，其10万条专有训练数据大部分来源于易鑫真实业务场景，兼具高代表性和专有价值。同时，为深 度适配行业需求，模型还搭载了金融领域专属知识体系与工具集，涵盖语音交互、车辆评估、风险防 控、欺诈识别、合规检测等多项功能，形成全链路智能支撑体系，实现金融服务效率与安全的双重提 升。 针对行业智能化转型的落地难题，易鑫提出" ...

Core Conclusions - The financial industry experienced a weekly increase of +0.68% in the non-bank financial index, underperforming the CSI 300 index by 0.96 percentage points [1] - The banking sector saw a decline of -0.59%, lagging behind the CSI 300 index by 2.23 percentage points, with state-owned banks, joint-stock banks, city commercial banks, and rural commercial banks showing varied performance [1][9] Insurance Sector Insights - The insurance sector's index rose by +0.20%, underperforming the CSI 300 index by 1.44 percentage points, driven by strong demand for dividend insurance products that align with residents' needs for stable returns and value appreciation [2][12] - Major insurance companies are focusing on dividend insurance as a strategic core, with product offerings expanding significantly ahead of the 2026 "opening red" period [2][12] - The growth of new single premiums is expected to be strong in 2026, supported by improved net present value margins (NBVM) and a favorable regulatory environment for dividend insurance [2][17] Brokerage Sector Insights - The brokerage sector index increased by +0.74%, underperforming the CSI 300 index by 0.90 percentage points, with recent developments in refinancing for two brokerages indicating a cautious approach to capital raising [2][18] - The current environment presents a mismatch between profitability and valuation in the brokerage sector, suggesting potential for valuation recovery [2][19] - Recommendations include strong mid-to-large brokerages with low valuations and those involved in mergers or restructuring [2][19] Banking Sector Insights - The banking sector's index decreased by -0.59%, underperforming the CSI 300 index by 2.23 percentage points, with a focus on high dividend strategies remaining viable [3][20] - The average dividend yield for banks is approximately 4.1%, which is attractive compared to other sectors, particularly in the context of a stable earnings outlook [3][21] - Recommendations include state-owned banks and resilient city commercial banks, with specific attention to banks with strong fundamentals and low volatility [3][22]

Group 1 - The core viewpoint of the article is the launch of XinMM-AM1, the first Agentic AI model in the automotive finance industry by Yixin Group, which aims to enhance customer acquisition, risk control, and operational efficiency, potentially driving the industry into the next decade [1][2] - XinMM-AM1 has approximately 30 billion parameters, with a response latency of less than 200ms and a single card throughput of up to 370 tokens/s, facilitating low-cost large-scale deployment and business services [1] - The model serves as the "core brain" and orchestrator for automotive finance, enabling full-channel interaction, multi-modal perception, global collaboration, and comprehensive security compliance, thus automating decision-making processes [1] Group 2 - Yixin Group is an AI-driven fintech platform that became the first company in China's automotive finance sector to file a generative AI model in 2024 and has implemented large-scale AI applications across all business scenarios [2] - With the launch of the Agentic model, Yixin aims to accelerate AI empowerment in the industry and continue building a smart automotive finance ecosystem [2]

Core Insights - Yixin (02858) officially launched the automotive finance industry's first Agentic large model, XinMM-AM1, at the 2025 World Internet Conference, which is expected to drive the automotive finance sector into the next decade [1] Group 1: Model Specifications - The XinMM-AM1 model has approximately 30 billion parameters, with a response latency of less than 200ms, supporting real-time interaction with voice agents and achieving a throughput of 370 tokens/s per card, facilitating low-cost large-scale deployment [2] - The model is trained on over 15 trillion tokens of data, primarily sourced from Yixin's diverse and rich business scenarios, providing high representativeness and proprietary value [2] Group 2: Functional Capabilities - XinMM-AM1 serves as the "core brain" and dispatcher for the business, enabling full-channel interaction, multi-modal perception, global collaboration, and comprehensive security compliance, thus empowering the entire automotive finance business chain from customer acquisition to intelligent risk control [2] - The model significantly enhances risk control capabilities and business quality while improving the financing application approval rate, addressing the industry's challenges of long cycles, multiple interaction steps, and complex decision factors [2] Group 3: Company Positioning and Future Plans - Yixin is an AI-driven fintech platform with over 2 billion yuan invested in research and development [2] - In 2024, Yixin will become the first company in China's automotive finance sector to file for a generative AI large model, leading the large-scale application of AI across all business scenarios [2] - The launch of the Agentic large model will accelerate AI empowerment in the industry and continue to promote the construction of an intelligent automotive finance ecosystem [2]

Core Points - The "Direct to Wuzhen" Global Internet Competition concluded successfully on November 9, 2025, with Yixin Group winning the first prize for its AI-based automotive finance solution "Yixin Smart Service" [1] - The competition attracted 1,082 high-quality projects from 29 countries and regions, highlighting Yixin Group as the only company to win in the open-source model track [1] - This award recognizes Yixin Group's technological innovation and its leadership position in the "AI + Automotive Finance" sector [1] Company Summary - Yixin Group's "Yixin Smart Service" solution aims to provide a comprehensive smart operation service for automotive and financial enterprises, addressing long-standing challenges in the automotive finance industry [1] - The solution automates and intelligently operates the entire process from customer acquisition, application, risk control, funding, customer service to asset management, making it a ready-to-use enterprise application [1]

Core Insights - Yixin (02858.HK) won the first prize at the 2025 "Direct to Wuzhen" Global Internet Competition with its self-developed AI smart service solution "Yixin Smart Service" [1][2] Group 1: Competition Overview - The "Direct to Wuzhen" competition is a key segment of the World Internet Conference Wuzhen Summit, attracting 1,082 high-quality projects from 29 countries and regions [2] - Yixin was the only company to win the first prize in the open-source model track, highlighting its leadership in the "AI + automotive finance" sector [2] Group 2: Yixin's Solution - The "Yixin Smart Service" solution is based on the self-developed Agentic large model, aimed at providing comprehensive smart operational services for automotive and financial enterprises [4][5] - The solution addresses long-standing pain points in the automotive finance industry, such as complex decision-making and weak link collaboration, achieving full-process automation and intelligent operation [5] Group 3: Future Strategy - Yixin plans to continue focusing on its strategic positioning as an "AI-driven automotive finance technology platform," enhancing its intelligent service system centered around large models [7] - The company aims to promote the deep integration and large-scale implementation of AI technology across all scenarios in automotive finance, providing smarter, more efficient, and safer solutions for global partners [7]

Group 1 - The core event was the award ceremony for the 2025 "Direct to Wuzhen" Global Internet Competition, where Yixin (02858) won the first prize with its AI-driven automotive finance service solution "Yixin Smart Service" [1][2] - The competition attracted 1,082 high-quality projects from 29 countries and regions, highlighting Yixin's achievement as the only company to win in the open-source model track, showcasing its leadership in the "AI + Automotive Finance" sector [2][5] - Yixin's "Yixin Smart Service" solution is based on its self-developed Agentic large model, providing a comprehensive smart operation service for automotive and financial enterprises, addressing long-standing industry pain points [5][6] Group 2 - The solution automates and intelligently operates the entire process from customer acquisition to asset management, demonstrating significant commercial value and market potential [5] - Yixin aims to continue its strategic positioning as an "AI-driven automotive finance technology platform," focusing on deepening the intelligent service system centered around large models and promoting the integration of AI technology across all automotive finance scenarios [6]

Major Events - Bluestar Jiahe Services (02606.HK) plans to repurchase up to 10% of its issued H-shares [1] - China People's Insurance Group (01339.HK) reported original premium income of 97.985 billion yuan in January, a year-on-year increase of 6.67% [1] - Hengteng Network (00136.HK) signed a strategic cooperation agreement with Evergrande Tourism Group [1] Financial Data - New Star Printing (01975.HK) achieved a net profit of 27.5 million HKD in the interim period, with an interim dividend of 1.5 HKD cents [1] Earnings Forecast - Qihua Environmental Protection (00976.HK) expects an increase in annual net loss [1] - Zhuyou Intelligent Manufacturing Technology (00726.HK) anticipates a net profit increase of approximately 40.8% for the year [1] - Birmingham Sports (02309.HK) raised its earnings forecast, expecting a mid-term profit of 70 million HKD [1] - Huazhang Technology (01673.HK) expects a mid-term profit of 15 to 20 million yuan, turning from loss to profit year-on-year [1] - Raffles Interior (01376.HK) anticipates a net loss of 4.5 million Singapore dollars for the 2020 fiscal year [1] - Fengcheng Holdings (08216.HK) expects a net profit increase of over 50% for the year [1] - New Fengtai Group (01771.HK) forecasts a net profit growth of approximately 20% for the year [1] - Yefeng Group (01695.HK) expects an annual loss not exceeding 4 million Malaysian ringgit [1] Operational Data - China People's Insurance Group (01339.HK) reported original premium income of 97.985 billion yuan in January, a year-on-year increase of 6.67% [1] - New China Life Insurance (01336.HK) reported original premium income of 34.63 billion yuan in January, a year-on-year increase of 12.78% [1] - China Property & Casualty Insurance (02328.HK) reported original insurance premium income of 53.112 billion yuan in January, a year-on-year increase of 1.2% [1] - China Metallurgical Group (01618.HK) signed new contracts worth 103.59 billion yuan in January, a year-on-year increase of 129.7% [1] - China Eastern Airlines (00670.HK) reported a 60.59% year-on-year decline in passenger turnover in January [1] - Sinopec Oilfield Services (01033.HK) recently signed overseas contracts worth 2.323 billion yuan [1] - China Southern Airlines (01055.HK) reported a 59.16% year-on-year decline in passenger turnover in January [1] - Huili Group (00806.HK) reported total managed assets of approximately 14.8 billion USD at the end of January [1]