In the last trading session, the stock price of Bitauto Holdings Ltd (NYSE:BITA) gained more than 1% to close the day at $37.40. The gains came at a share volume of 1.37 million compared to average share volume of 1.62 million. For Q3 2017, the company recorded an increase of 53.7% YoY in its revenue.
William Li, the CEO and Chairman of Bitauto, expressed that they continued to record solid progress across their business lines in Q3 2017, with total revenue up 53.7% YoY to RMB2.34 billion. With their ongoing initiatives across company’s three key enhancement segments for 2017 – traffic and content, monetization and conversion rate continuing to pay off, they remain optimistic about their performance for FY2017 and beyond.
Andy Zhang, the President of Bitauto, expressed that Yixin’s Hong Kong IPO marks as a vital milestone for both Bitauto and Yixin. Yixin’s listing will extend its access to talent, capital and business opportunities while increasing the Bitauto value chain spreading across auto consumption market in China. The net proceeds from the international offering will offer Yixin with iincreased resources to further strengthen their transaction services business as well as marketing initiatives.
Led by their seamless integrated omnichannel operational features and remarkable data analytics capabilities, Yixin’s business platform continues to record traction with both their auto consumers and business partners. In the third quarter, it recorded automobile retail and auto linked transactions of approximately 140,000.
Yixin’s monthly active users stood at 51 million in September 2017, while its network of more than 15,000 dealership outlets, there existed 100 Yixin experience stores countrywide as of the close of September 30, 2017. They are delighted to witness Yixin’s platform business progressively contribute to both profit and revenue in the third quarter of 2017as they unlock the potential of their platform business.