CarLink's gross profit margin increased, but it is still operating at a loss.

According to its prospectus, CheLianTianXia's gross profit margin increased from 9.5% in 2022 to 17.5% in 2023. In the first half of 2025, its gross profit margin decreased to 16.2%, but remained relatively stable. CheLianTianXia's net losses were RMB 514 million, RMB 201 million, and RMB 253 million in 2022, 2023, and 2024, respectively, with a net loss of RMB 262 million in the first half of 2025.