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中国永达汽车服务控股有限公司股票代码Stock Code: 03669.HK2026 INTERIM PERFORMANCE REVIEWChina Yongda Automobiles Services Holdings Limited 2 0 2 6年 中 期业 绩演 示 材 料
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CONTENTS 1 1 2 233Performance OverviewAutomotive Business UpdatesFinancial AnalysisCompany Outlook55 Embodied Intelligence Business44
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YONGDA GROUP Performance Overview— P A R T O N E —
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Performance overviewNew car sales volume59,500 units* New car sales volume includes direct sales of NEVRevenue from repair and maintenance 4,278 millionPre-owned vehicles transaction volume25,129 units1H 2026 Revenue & Profit1H 2026 Business Scale 1 Sustained improvement in operating qualityAfter-sales absorption rate90.1%YoY 5.9PCT.Total amount of SG&Aexpenses and financing costs2,049 millionYoY 333 million14.0%Higher efficiencyNet cash inflow from operating activities1,173 millionYoY 0.5%Stronger financial stabilityIn 1H 2026, the key focus in the automotive industry has further shifted toward structural reshaping within the existing automotive environment. Rising export proportion and NEV penetration and growing vehicle parc continue to serve as long-term support for the sector. Nevertheless, uncertainties persist with respect to domestic demand, pricing and channel profitability.Independent NEV brands sales volume10,820 unitsYoY 4.9%01 Channel optimization Accelerate the phase-out of low-quality and inefficient stores,with 10 stores closed/ transferred.02 Stable after-sales business After-sales revenue excluding the impact of shutdowns & transfers remained stable, with the absorption rate rising to 90.1%.03 Improvement in cost control and efficiency Sustained improvement in operating cash flow. Healthy financial structure maintained04 Sales strategy optimization Proactively adjust pricing and promotion strategies to respond to market volatility,and continuously optimize inventory management. Key operational initiatives and achievements in 1H 2026Total revenue20,849 millionYoY 23.0%Gross profit1,989 millionYoY 16.1%Net profit11 millionReturn to profitability HoHYoY 17.9%YoY 1.0%YoY 17.4%Inventory balance at the end of June 2026 2,857 million20.9% from the end of 2025The annualized rate is 0.8530.8% from 0.65in 2025Cash and cash equivalents and time deposits2,772 million26.3%from the end of 2025Ratio of net cash from operating activities to interest-bearing debt0.42Net gearing ratio0.0%8.5PCT. from the end of 2025* Pre-owned vehicles transaction volume includes sales from both agency and dealership business* Excludes the impact of store shutdowns and transfers
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YONGDA GROUP Automotive Business Updates— PA R T T W O —
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Tesla repair centerZeeker repair centerXpengSmartHIMAFAW ToyotaShanghai VolkswagenBuickAudiVolvoJaguarLand RoverPorscheBMWAccelerated optimization of networkDecreaseIncrease2026/06/302025/12/31(units)-60109115Luxury and ultra-luxury brands 4S dealerships-201113City showrooms of luxury brands-80120128Luxury and Ultra-luxury brands002222Mid-high end brands 4S dealerships0000City showrooms of Mid-high end brands002222Mid-high end brands-244139Independent NEV brands 4S dealerships0077Authorized maintenance centers of independent NEV brands-244846Independent NEV brands001313Pre-owned Vehicles Malls-104203209Total Number of operating outlets in 1H 2026 2 Number of outlets in major brands (units)120 luxury brands outlets 22 mid-high brands outlets 48 NEV brands outlets 5213119893 3246333
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New car sales were proactively scaled back, gross profit margin turned positive in 1H 2026 and independent NEV sales maintained growth2025 1H 2026 1H72,50159,50017.9%* New car sales volume includes direct sales of NEVNew vehicle sales volume (units) 3 Revenue from new vehicle sales and related services (RMB million) 2025 1H2026 1HSales volume of independent NEV brands (units)10,312 Distribution Direct-sale 5,857 4,45510,820 5,8494,971Overall 4.9% Gross profit margin of new car sales and related services 1.0%-0.8%2025 1H 4.0% 2025 2H2026 1HOverall* Independent NEV brands2025 1H 2026 1H20,53215,01026.9% 0.1%2026 1H* Includes direct-sales and distribution for independent NEV brands, calculated based on new car selling prices.
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After-sales services business remains resilient and after-sales absorption rate continues to improveRevenue from repair and maintenance related services (RMB million)1.0%Gross profit margin of repair and maintenance related services2025 1H 2026 1H 40.4%39.7%2025 1H4,321 2026 1H 4,278 After-sales absorption rate Number of customers under management (‘000 people)2025 1H2026 1H84.2%90.1% 5.9PCT.*After-sales absorption rate = after-sales service gross profit / (distribution and selling expenses + administrative expenses + financing costs)4*Number of customers under management: the number of customers who returned to the stores for repair and maintenance in the past 12 months.Excluding the impact of shutdowns and transfers2025 1H4,660 2026 1H4,309 7.5%1,3542025/12/312026/06/301,3212.5% 2025/06/301,294 2.1%
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Independent NEV brands after-sales services business revenue and gross profit maintain rapid growth 5 Revenue from independent NEV brands repair and maintenance (RMB million) 2025 1H2026 1H21629034.4%Breakdown of independent NEV after-sales services output valueIndependent NEV brands repair and maintenance gross profit and gross profit margin (RMB million)Number of customers under management in independent NEV brands after-sales services business (people) 2025 1H2026 1H7411454.4%122,98834.4%39.5%5.1PCT.Gross profit marginGross profit 60%60%2026 1H25%25%15%Metal painting revenueClaim revenueMechanical and electrical revenue*Number of customers under management：the number of customers who returned to the stores for repair and maintenance in the past 12 months. 2025/12/312026/06/3091,79034.0% 2025/06/3072,28127.0%
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Pre-owned vehicles business maintains high turnover and operational control 1. New Retail Model: Establish a bulk vehicle supply cooperation mechanism with OEMs, and develop Yongda's online-offline digital operation capabilities.2. NEV pre-owned vehicles: Accelerate the layout in the new channel segment for NEV pre-owned vehicles, establish all-round cooperation with OEMs, and expand brokerage services such as consignment and commissioned auctions.3. Export business: Capitalize on the policy incentives of pre-owned vehicles export and actively promote NEV pre-owned vehicles exports.Continuous optimization of pre-owned business model: High Turnover, Risk Control, and Profitability Protection Pre-owned vehicles transaction volume (units)2025 1H 2026 1H30,42725,12917.4% 6 Gross profit margin of pre-owned vehicles sales2025 1H 2026 1H 5.2%5.1%Stable*Gross profit margin of pre-owned vehicles sales includes both agency and distribution models, with the sales of agency transactions being restated on a gross basis for consistent calculation. Overall new-to-pre-owned ratio2025 1H 2026 1H 42.0%42.2%0.2PCT.*Overall new-to-pre-owned ratio = pre-owned vehicles transaction volume/ overall new car sales volume*Pre-owned vehicles transaction volume includes sales from both agency and dealership business
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YONGDA GROUP Financial Analysis— PA R T T H R E E —
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20,532Revenue and profitsRevenueRevenue from new vehicle sales and related services2026 1H20,8492025 1H27,072 15,010 211Gross profit2026 1H1,9892025 1H2,370 18 *Adjusted net profit/ (loss)*Adjusted net profit/ (loss) attributable to owners of the company 5411*2025 1H 2026 1H -401 *2025 2H 27*2025 1H2026 1H -367 *2025 2H6326.9%Revenue from new vehicle sales and related services23.0%Total revenue91.3%Gross profit from new vehicle sales and related services16.1%Total gross profit Total amount of selling expenses, administrative expense and finance costs2026 1H2025 1H2,3822,049 YoY333 million14.0%Others: after-sales services revenue, pre-owned vehicles revenue and other revenueGross profit from new vehicle sales and related servicesOthers: after-sales services gross profit, pre-owned vehicles gross profit and other gross profit7 (RMB million) *Adjusted net profit/ (loss) & Adjusted net profit/ (loss) attributable to owners of the Company: measured using non-IFRS standards
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Operation quality 0.5% Net cash inflow from operating activities and free cash flow (RMB million) Ratio of net cash from operating activities to interest-bearing debt 2026 1H2025 1H1,1731,167 Net cash from operating activities215291Less: Capital expenditure173217Less: Lease payments784659Free cash flowFree cash flow2026 1H2025 1H1,167 1,173 659784Net cash from operating activities (RMB million) 19.0% Inventory balance (RMB million)2025/12/31Average inventory turnover days (days)2026/06/30 26.331.32025 1H2026 1H 3,6122,857 20.9%0.422025 1H2026 1H 0.650.852025*Annualized to 2026 23.5%30.8%0.348*Annualized to 2026：(Net cash flow from operating activities in 1H 2026*2) / interest-bearing debt as of June 30, 2026
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2026/06/302025/12/311.11.1Current assets cover current liabilities and long-term interest-bearing debt1.21.2Net assets cover long-term assets0.0%8.5%Net gearing ratio60.2%64.9%Asset-liability ratioNote：2026/06/302025/12/31(RMB million)12,49815,190Current assets2,7722,194Cash and cash equivalents and time deposits2,2694,110Pledged bank deposits4,4314,896Inventories in transit and in storage7,1417,142Non-current assets*Excluding leased assets and deferred tax liabilities21,37824,231Total assets10,43612,870Current liabilities1,647 1,607 Short-term interest-bearing debt5,4327,513Bills payables1,1211,307Long-term interest-bearing debt12,87015,730Total liabilities8,5088,501Total equity Financial position summary 93,1643,403Net exposure of bank bills2,7682,914Total interest-bearing debt-As of June 30, 2026, the balance of cash and cash equivalents and time deposits was RMB 2.772 billion, an increase of 26.3% from the end of 2025.Current assets cover current liabilities and long-term interest-bearing debt= current assets/(current liabilities + long-term interest-bearing debt)Net assets cover long-term assets= net assets/(non-current assets- leased assets -deferred tax liabilities) Net gearing ratio= (Interest-bearing debt - cash and cash equivalents and time deposits) / total equityNet exposure of bank bills= bills payables – pledged bank deposits
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YONGDA GROUP Embodied Intelligence Business— PA R T F O U R —
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Embodied intelligence accelerates from technology validation to industrial application, and professional service demand is emergingRobots, models, and products are continuously iterating. The industry is shifting from demonstration and presentation to trial training and application verification in scenarios with clear tasks and controlled environments. Large-scale adoption still depends on adaptation, delivery, and continuous operation capabilities.•Industry StatusThe industry is entering a verification phase of "stability in scenario-based usage"Robot brands require channel development, B2B and B2C sales capabilities, and application implementation support. Enterprise and individual customers need professional selection, application adaptation, delivery, and ongoing after-sales services. Simply selling robot bodies is insufficient to form a complete closed-loop service..•Market and Service DemandThe embodied intelligence industry currently suffers from insufficient high-quality physical-world data supply. Existing data fall short of meeting the demands for continuous model training and rapid iteration in terms of scale, scenario coverage and consistency. Large-scale deployment of physical AI still faces substantial data gaps.•Data Collection and Training Demand Stakeholder Needs• Robot Brands: Market expansion and application services.• Customers: Professional selection, smooth usage, and continuous services.• Robot and Model Companies: Data collection/ training and real-scenario training.Yongda's Entry Point• A professional robot sales and service provider connecting brands with customers.• Forming a service loop through sales, application development, delivery, and after-sales services.• Supporting product iteration with data collection/training bases and real-world scenarios. 10
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•Sales and LeasingHelping brands expand B2B/B2C markets; assisting customers in selection, experience, purchase or leasing processes.•Application DevelopmentTailoring robot capabilities to specific customer tasks, delivering ready-to-use solutions for immediate value.•Delivery and After-salesReducing service burdens for brands; ensuring smooth customer onboarding and stable long-term operation.•Data Collection & TrainingBuilding data/training bases, providing real-scenario data, model training and verification services.Mutual Empowerment: Automotive & Embodied IntelligenceResource & Capability Reuse ×New Customer Flow & Incremental Opportunities Our Positioning: 11Reuse automotive channels, customers, real business scenarios, delivery and after-sales capabilities to offer market access, demand validation, and localized support for robotics brands.Attract new customer flow via robotic experiences, enhance store tech appeal, boost engagement, and drive cross-selling and incremental services. A Professional Robot Sales and Services ProviderWe do not manufacture robot bodies or develop large models. Instead, we focus on connecting robot brands with customers, undertaking sales, application implementation, and continuous service.Your Trusted Robot Sales & Service PartnerAutomotive BusinessEmbodied Intelligence Business Yongda robotics business: professional robot sales & services provider
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Robot sales and leasing | Helping brands reach the market, helping customers choose the right productUndertaking regional agency and channel development, providing product display, customer expansion, sales conversion, and frontline market feedback to help brands enter B2B and B2C markets more efficiently.For Robot BrandsOffering product consultation, selection, experience, sales, and short/long-term leasing, with the same service provider continuously handling delivery and after-sales, lowering the threshold for first-time use.For Enterprise and Individual Customers Brand Agency and Product Display B2B Enterprise and Scientific Research/Education Customer ExpansionB2C Individual Customer Experience and Sales Short-term/Long-term Leasing and Continuous After-sales Service12 B2BB2C
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Application development, delivery, and after-salesMoving robots from "purchased" to "effectively utilized" Application DevelopmentTransforming Capabilities into Usable SolutionsStarting from customer tasks, we conduct requirement analysis, solution design, function configuration, application software development, interface connection, and system integration to adapt products to specific needs. Underlying algorithms and robot body modifications are done with the robot brand or technical partners.Delivery & After-sales ServiceEnsuring Smooth Launch & Continuous ValueWe handle installation, debugging, testing, training, acceptance and delivery. Post-launch, we provide ongoing status management, fault support, spare parts maintenance and repair, software upgrades and extended-warranty services to help brands to reduce operational burdens and enhance stability. 13
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Data collection and training | Assisting robot and model companies in completing verification and iteration through real scenarios Based on customer tasks and acceptance criteria, we assist in building data collection/training bases, organizing scenarios, equipment, and personnel, and establishing standardized processes for data collection/training, quality inspection, and result delivery. This helps robot and model companies reduce the cost and organizational complexity of building their own bases.Connecting multiple types of real business scenarios, we conduct real-robot training, capability verification, and result feedback around customer tasks. With necessary authorization and compliance with regulatory requirements, we provide data services to robot and model companies, helping to shorten iteration cycles and improve product maturity. Data Collection and Training Base Construction and Operation Real-Scenario Training, Verification, and Feedback 14
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YONGDA GROUP Company Outlook— PA R T F I V E —
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China's automobile market has entered a stage of deep transformation and adjustment01 02NEV• Penetration rate increased to 54.1% in 1H 2026 • Gradually become the core engine for the reshaping of the industrial landscapeICE• OEMs are actively addressing challenges and improving dealer profitability• Large customer base and mature service system;• ICE after-sales business shows resilienceMarket competition will eventually return to a rational state of supply-demand balance. In this process, automotive brands will face survival of the fittest. Nevertheless, the value and role of auto dealers within the end-user service business chain remain irreplaceable.15 Coordinated development • Various policies have guided the industry to accelerate its exploration of a new model centered on technology-driven and value-creating approaches.• Industry consolidation and channel network optimization has been accelerated ,• Promoted dealers to phase out inefficient outlets, industry resources concentrate on high-quality operators.The market is gradually undergoing a transition to high-quality development.
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2026 new car sales business outlook NEV Brands:Continuously improve per-store operational efficiency• Focus on improving the operational performance of individual outlets• Continuously advance lightweight channel layout and optimize the utilization of site resources• Implement dynamic inventory control, supported by human-efficiency-oriented incentive mechanisms • Explore extended services to comprehensively boost per-store efficiency and overall profitability. Traditional Brands:The supply-demand relationship is expected to be continuously improved• OEMs have proactively optimized the sales network, with the annual sales target becoming more reasonable.• By optimizing business policies and taking the initiative to lower the official retail guide prices, it has improved dealer’s operating and cash flow conditions.• Under-performing dealers continue to exit the market, with industry resources concentrating toward high-quality operators.16
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Focus on improving quality and efficiency in the automotive business After-sales business and customer operations New-car sales business0201 Optimization of the network structure• Continuously optimize network structure, eliminate inefficient outlets, and reserve high-quality NEV outlets• Diversify the utilization of outlets and share resources to improve utilization rates.• Continuously increase the scale of individual stores and the output of individual employees.03 Efficiency and financial management• Continuously strengthen expense and inventory management, drive cost reduction and expense control, and improve per-store cash flow.• Implement differentiated categorized management and promote shared management models.• Keep strong cash flow, control capital expenditure, and optimize the structure of financing channels.• Maintain healthy core financial indicators, including debt-to-asset ratio and operating cash flow.04• Diversify the product range of after-sales services to meet customer needs and reduce customer loss rate.• Continuously explore customer resources outside of our store to increase repair business volume.• Independent NEV brands after-sales services revenue is rapidly growing, and there is huge potential for increasing absorption rates.• Leveraging product cycles of key brands to increase per-store sales volume and profit quality• Formal delivery of the BMW iX3 Neue Klasse in Q4 2026• Dynamically adjust sales strategies, optimize turnover efficiency and control inventory levels17
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Embodied intelligence business: pursue the launch of first-batch projects based on our positioning as a professional robotics sales services provider. Launch of consumer-grade robot brand experience center.Commissioning of robot data collection & training site.Release of robot operation platform.Roll-out of specialized embodied intelligence maintenance project.18 Focusing on the consumer market, commercial delivery and data services, build a standardized and replicable business model.01Build Three Core Service Capabilities• Consumer-grade market development & operation.• Commercial delivery & professional services.• Data production and transaction closed-loop.2H 2026 | Four Project LaunchesDriven by real demands and clear ordersInvest in phases and control capital expenditure.Build reusable capability portfolios02Establish Standardized Replication Mechanisms• Product solutions & standard quotations.• Delivery, acceptance and operation-maintenance processes.• Platform operation & cross-regional replication.Transform one-off pilot projects into sustainable business 03First-batch project validationStandardization of core capabilitiesCross-customer and cross-regional replication
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Long-term sustainable development and shareholder returnsGive full play to dealers’ core values Low carbon operation & ESG Marketing throughchannel networkService capabilities ofthe automotive aftermarket •The industry consolidation is accelerating, with resources continuing to concentrate among top-tier high-quality dealers, and opportunities remain in the domestic market. We will consolidate our fundamentals by adhering to our core automotive-service business, develop commercialization of embodied intelligence business to cultivate new growth drivers, pursue diversified and coordinated development, continuously enhance operational efficiency, and maintain a sound financial position. We will adopt reasonable dividend distribution and share repurchase policies to deliver sustained long-term shareholder value. 19 Talent Development & New Business & New Technology• Talent training and reserve• Battery recycling & Commercial Applications of Embodied Intelligence• AI technology• Use resources rationally • Reduce pollution • Fight climate change• Actively give back to the society and establish a public welfare foundation.• Carry out various public welfare projects of caring for the elderly, caring for children, helping students and helping the poorCaring for society & employees•Build long-term sustainable capabilities and ensure stable performanceImprove shareholder returnsAdvance the company’s sustainability capabilities
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Our value and investment rationale 01 02 03Strict inventory control, lower liabilities & expenses, secure cash flow.The fundamentals of our after-sales business remain stable, and NEV after-sales services serve as a structural growth anchor.Focus on commercial application services: sales & leasing, application development, delivery & after-sales, and training data services.Enhance the quality of operationsMaintain the resilience of after-sales businessDevelop embodied intelligence business20
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DisclaimerThe slides/materials used in this presentation are strictly confidential and are being furnished to you solely for your information and may not be taken away, reproduced, redistributed, published, or transmitted directly orindirectly to any other person (whether within or outside your organization/firm), in whole or in part for any purpose. In particular, neither the information contained in this presentation nor any copy may be reproduced, redistributed,published, or transmitted directly or indirectly into the United Kingdom, Australia, the PRC, United States, Canada, Japan or any other jurisdiction which prohibits the same ext in compliance with applicable securities laws.These slides/ materials and the information contained therein do not constitute an offer or invitation to enter into, or offer to enter into, any agreement to purchase, acquire, dispose of, subscribe for or underwrite any securitiesor structured products and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto.The shares of China Yongda Automobiles Services Holdings Limited (the “Company”) have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securitieslaws of any state of the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and anyapplicable state or local securities laws. There will be no public offering of the Company’s shares in the United States.In Hong Kong, no securities of the Company may be offered to the public unless a prospectus in connection with the offering of such securities has been formally approved by The Stock Exchange of Hong Kong Limitedpursuant to the Companies Ordinance (Chapter 32 of the laws of Hong Kong) and duly registered at the Companies Registry of Hong Kong, or except in circumstances under which an offer is made to professional investors asdefined in the Securities and Futures Ordinances (Chapter 571 of the laws of Hong Kong) or any rules made thereunder, or in other circumstances which do not result in the offering document being a prospectus as defined underthe Companies Ordinance, or which do not constitute an offer to the public within the meaning of the Companies Ordinance. Any decision to purchase or subscribe for securities in any offering should be made solely on the basis ofthe information contained in such offering document to be published in relation to such offering.This presentation may contain forward-looking statements. Any such forward-looking statements are based on a number of assumptions about the operations of the Company and factors beyond the Company’s control and aresubject to significant risks and uncertainties, and accordingly, actual results may differ materially from these forward-looking statements. The Company undertakes no obligation to update these forward-looking statements for eventsor circumstances that occur subsequent to such dates.The information in this presentation should be considered in the context of the circumstances prevailing at the time of its presentation and has not been, and will not be, updated to reflect material developments which mayoccur after the date of this presentation. The information is not intended to provide, and you may not rely on this presentation and the information contained therein as providing a complete or comprehensive analysis of theCompany's financial or trading position or prospects. Some of the information is still in draft form.This presentation also contains information and statistics relating to the automotive industry. The Company has derived such information and data from unofficial sources, without independent verification. The Company cannotensure that these sources have compiled such data and information on the same basis or with the same degree of accuracy or completeness as are found in other industries. You should not place undue reliance on statements inthis presentation regarding the automotive industry. The information contained in this presentation does not constitute a due diligence review and should not be construed as such. The information contained in this presentation hasnot been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information or opinion containedherein. None of the Company or its advisers, or any of their respective directors, officers, employees, agents or advisers shall be in any way responsible for the contents hereof, or shall be liable whatsoever (in negligence orotherwise) for any loss or damage whatsoever arising from use of the information contained in this presentation or otherwise arising in connection therewith and none of them shall owe you any fiduciary duty in relation to thispresentation.By attending this presentation, you are agreeing to be bound by the foregoing restrictions and to maintain absolute confidentiality regarding the information disclosed in this presentation. Any failure to comply with theserestrictions may constitute a violation of applicable securities laws. In addition, you are deemed to have represented and agreed that you and any clients you represent are either (a) qualified institutional buyers (within the meaningof Regulation 144A under the U.S. Securities Act), or not a U.S. person and are outside of the United States and not acting for the account or benefit of a U.S. person; and (b) a “professional investor” as defined under Schedule 1 tothe Securities and Futures Ordinance or any rules made thereunder.21
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中国永达汽车服务控股有限公司股票代码Stock Code: 03669.HKTHANKSChina Yongda Automobiles Services Holdings LimitedQ&A2 0 2 6 I N T E R I M P E R F O R M A N C E R E V I E W