Core Insights - Tuhu-W (9690) reported strong performance in the first half of 2025, maintaining its leading position in the Chinese automotive service market with significant growth in revenue, user base, and service stations [1][3] Financial Performance - The company achieved a revenue of 7.88 billion RMB, a year-on-year increase of 10.5%, with an adjusted net profit of 410 million RMB, up 14.6% [1][5] - Operating expenses totaled 1.77 billion RMB, accounting for 22.4% of revenue, showing continuous optimization compared to the same period in 2024 [5][6] - Free cash flow increased by 32.2% to 350 million RMB, with total cash reserves exceeding 7.5 billion RMB, indicating strong financial health [6] User Growth and Market Share - As of June 30, 2025, Tuhu's registered user base reached 150 million, a growth of 18.8% year-on-year, with a total of 26.5 million active transaction users, up 23.8% [3][4] - The average monthly active users on the app reached 13.5 million, reflecting a 17.5% increase, while the user repurchase rate improved to 64% [3][4] Service Station Expansion - Tuhu expanded its service station network to 7,205 locations, covering 320 prefecture-level and 1,855 county-level administrative regions, achieving a 70% coverage rate in counties with over 20,000 passenger vehicles [3][4] AI and Supply Chain Innovations - The company enhanced its AI capabilities to improve management efficiency and customer service quality, resulting in significant improvements in pre-sales conversion rates and customer satisfaction [4] - Tuhu launched its first fully automated retail warehouse in Guangzhou, reducing labor costs by 60% and increasing efficiency to 2.5 times that of traditional warehousing [4] New Business Growth - The fast repair business saw a substantial revenue increase of over 60% year-on-year, driven by the growing demand for quick repair services as vehicle ages increase [4] - The number of users engaging in new energy transactions rose to 3.4 million, a remarkable growth of 83.5%, representing over 12% of total transaction users [4]
途虎养车2025上半年收入78.8亿元增速加快，工场店达7205家稳居第一，AI 智能化应用领跑行业