TUHU Car Posts Double-Digit Revenue Growth but Margins Tighten in 2025

TUHU Car Inc. Class A ( (HK:9690) ) has shared an update.

TUHU Car Inc. reported revenue of RMB16.46 billion for 2025, up 11.5% year on year, with adjusted EBITDA and adjusted net profit also improving, despite a decline in operating profit and overall profit margin. The second half of 2025 showed similar trends, with double-digit revenue growth but sharply lower operating profit, indicating rising costs or investments that are pressuring margins even as the business scales, a dynamic closely watched by investors in a company with a concentrated voting structure.

For the full year, gross profit rose 5.9% to RMB3.97 billion and adjusted net profit increased 12.2% to RMB700.12 million, suggesting underlying profitability remains resilient when excluding share-based payments. However, operating profit fell 23.8% and profit for the year slipped 13%, while second-half operating profit dropped 74.6%, underscoring a trade-off between growth and near-term earnings that may shape market perceptions of TUHU’s financial discipline and long-term strategy.

The most recent analyst rating on (HK:9690) stock is a Hold with a HK$17.00 price target. To see the full list of analyst forecasts on TUHU Car Inc. Class A stock, see the HK:9690 Stock Forecast page.

More about TUHU Car Inc. Class A

TUHU Car Inc., incorporated in the Cayman Islands and listed in Hong Kong, operates in the automotive services and parts sector. The company is controlled through a weighted voting rights structure, with Class A and Class B shares providing different voting power, allowing certain shareholders to exert significant influence over corporate decisions and governance outcomes.

Average Trading Volume: 925,732

Technical Sentiment Signal: Sell

Current Market Cap: HK$10.42B

See more insights into 9690 stock on TipRanks’ Stock Analysis page.