[ET Net News Agency, 28 August 2018] UBS Global Research lowered its target price for
Yixin Group (02858) to HK$4 from HK$6.28 as peer valuations have fallen on sluggish car
sales and macro concerns, and maintained its "buy" rating.
The research house remains positive on Yixin and believes the market is overlooking the
growth potential of its loan facilitation business. It said Yixin delivered solid 1H
results with revenue and margins higher than UBS's estimates despite these concerns.
UBS is encouraged by Yixin's continued expansion of financial partners and capabilities
in joint loan offerings, demonstrated by the recent cooperation with WeBank. (KL)