TUHU-W (09690) has released its interim results for the first half of 2026, reporting revenue of approximately RMB 8.778 billion, an 11.4% increase year-on-year. Gross profit reached roughly RMB 2.048 billion, up 3.3%, while adjusted net profit came in at about RMB 240 million and net profit for the period was RMB 184 million.

On the cost side, the group's adjusted total operating expense ratio stood at 22.8% in H1 2026, an increase of 0.4 percentage points year-on-year. This rise was primarily driven by increased investment in online third-party channel promotions and incentives for offline stores, which lifted the adjusted selling and marketing expense ratio by 0.4 percentage points to 13.2%. This strategy positively fueled rapid growth in new channel users and offline store expansion. Additionally, the adjusted operating and support expense ratio rose 0.2 percentage points to 3.8% amid accelerated store network expansion. The adjusted general and administrative expense ratio improved by 0.2 percentage points to 1.8%, while the adjusted R&D expense ratio remained flat at 4.0% despite higher hardware investment, thanks to effective cost control and initial efficiency gains from AI applications.

As of the end of June 2026, the company's registered user base grew to 175 million, an increase of 24.7 million year-on-year. Transaction users over the past twelve months reached 31 million, up 17.2% from a year ago, further solidifying the company's position as China's largest automotive service platform. Amid this rapid growth, key metrics reflecting user quality continued to improve: the annual repurchase rate rose 0.7 percentage points to 65.2%, and the share of revenue contributed by returning users increased 1.6 percentage points to 66.1%.

During the first half, the company seized opportunities from structural industry changes, driving accelerated expansion of its nationwide store network. By the end of June, the number of global TUHU workshops reached 8,825, with a net addition of 817 stores during the period. The store count at period-end grew approximately 22.5% compared to June 2025, continuing the accelerated expansion momentum seen since the second half of 2025. This makes the company the only automotive service chain globally to achieve the highest number of new stores through organic growth within a 12-month span.