DSC Holdings Ltd. · NASDAQ:DSC
DSC — Q2 2026 Earnings Presentation
21 slides from DSC's earnings presentation, August 2026
Slide 1: DSC Holdings Ltd. Second Quarter 2026 Earnings Webcast
DSC Holdings Ltd. (Nasdaq：DSC) Second Quarter 2026 Earnings Webcast August 2026
Slide 2: Disclaimer
81nidZpGqzkSDMpD Disclaimer These materials have been prepared by DSC Holdings Ltd. (the “Company”) solely for informational purposes and have not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fai
Slide 3: Operating Highlights
81nidZpGqzkSDMpD Operating Highlights Operating System Engagement Metrics – DaFengChe (1) Q2 2026 Dealership MAU(2) 65,334 User MAU (2) 199,933 Monetization Metrics – used car dealers only (1) Q2 2026 Dealerships • Number of monetized used car dealerships(3) 9,146 Adjusted Net • ARPU of monetized us
Slide 4: Financial Highlights
81nidZpGqzkSDMpD Financial Highlights (Amounts in RMB millions, except per ADS) Total 161.1 167.0 Revenue Q2 2025 Q2 2026 The 2Q26 figure reflects 227.8 million in Net Loss (25.0) (240.5) share-based compensation upont the completion of the IPO in June and IPO- related expenses. Q2 2025 Q2 2026 Adju
Slide 5: Industry Environment: Challenges Accelerate Digital & AI Adoption
81nidZpGqzkSDMpD Industry Environment: Challenges Accelerate Digital & AI Adoption Price pressure is challenging dealers, while transaction volume remains resilient. Market Pressure Is Forcing a New Operating Discipline Transaction Volume Remains Resilient 10–15% >70% 9.72M +1.5% YoY June 2026 used-
Slide 6: Who We Are (and Who We Are NOT)
81nidZpGqzkSDMpD Who We Are (and Who We Are NOT) We are the AI Application Infrastructure Who We for China’s Used Car Industry Are NOT THE operating system for China’s used car dealers We are NOT a • Industry data – massive granular proprietary real-time used car merchant • Dealer connection – deep
Slide 7: Our Highlights: The Industry's Digital Foundation
Our Highlights The Industry’s Digital Foundation 90%+ RMB 1.0 bn 50%+ Market Share in Used Car Daily Transaction Value of China’s Used Car Inventory Dealer Operating System in Enabled by DaFengChe in was Managed on DaFengChe(2) China by DaFengChe(1) January 2026 Leader in Transaction Services Larges
Slide 8: Our Service Offerings
81nidZpGqzkSDMpD Our Service Offerings Dealer Transaction B2B Channel Matching Inspection Delivery Service Services Used Car Operations Workflow Agent Agent Agent Agent Agent Agent Price Locate Car Inspect it Price it Buy it Move it Clean it Photograph it Market it Sell it for Sale AI Procurement AI
Slide 9: A True Flywheel Balancing Stability and Growth
A True Flywheel Balancing Stability and Growth ngagemen high e t data insight Volume Driven High Switching Costs High Ceiling Network Effect # of Monetized Dealers and Brokers(2) Digitalization Transaction # of Active Individual Users(1) Solutions Services 30,297 28,412 27,779 405,103 404,522 395,45
Slide 10: A Widening and Deepening Moat
A Widening and Deepening Moat DaFengChe is the dealer’s core operating system, holding the data, workflows and Enduring Loyalty High records they rely on every day. Switching Leaving means re-tuning nearly every part of Cost the operation, retraining staff, and forfeiting 100% of Top 100 years of hi
Slide 11: Data-Powered Capabilities and a Growing Suite of AI Agents
Data-Powered Capabilities and a Growing Suite of AI Agents Proprietary Immediate Contribution Data to Higher Efficiency and Lower Cost for Used Car Dealers Digital Operating Deployed Platform Valuable Partner Foundation to Consumer Gateway AI Models Platforms to Build Truly Agentic AI Applications i
Slide 12: AI Applications: Tools, Digital Employees and Platform Agents
AI Applications: Tools, Digital Employees and Platform Agents Industry-wide Commoditized large-language models Proprietary real-time industry data Digitalized application scenarios - dealer workflows AI Application Infrastructure: 1 AI Tools 2 Digital Employees 3 Platform-Level AI Agent Already laun
Slide 13: AI Agents Embedded in Dealers' Workflow – 1
AI Agents Embedded in Dealers’ Workflow – 1 Locate Car Price it Buy it Market Intelligence Agent Valuation Agent How likely will this car sell fast? How much should I pay to In which market procure this car? will I most likely Matching get a better deal? Agent Who has the car I am looking for? 21
Slide 14: AI Agents Embedded in Dealers' Workflow – 2
AI Agents Embedded in Dealers’ Workflow – 2 Photograph it Price for Sale Market Intelligence Agent How much are similar cars being sold locally? What’s the trend Graphics of local supply- Agent demand dynamics for similar cars? How do I make the car look good? 22
Slide 15: AI Agents Embedded in Dealers' Workflow – 3
AI Agents Embedded in Dealers’ Workflow – 3 Market it Sell it 李先生的… Sales Agent How to follow through a potential Media sale? Agent How to guide a 李先生的二手车店 customer through inquiry? 23
Slide 16: AI Agents Delivering Real Results – ZICHI Used Car in Kunming, Yunnan
81nidZpGqzkSDMpD AI Agents Delivering Real Results – ZICHI Used Car in Kunming, Yunnan Experienced Procure Team Said “Don’t Buy” AI Agent Advised “Yes, Good Opportunity” Too Demand is Likely be weak Don’t do it expensive stuck with it ZICHI’s procurement team unanimously objected to buying the Volks
Slide 17: International Opportunities: Accelerated Exports Open a Window
81nidZpGqzkSDMpD International Opportunities: Accelerated Exports Open a Window Rapidly-growing export market Why DSC can support export-oriented dealers 325k used cars exported in 1H 2026 1.7M+ China’s largest real-time verified inventory pool; a much larger live database than some other live vehic
Slide 18: Resilient Revenue Performance
Resilient Revenue Performance Revenue RMB MM YoY 2026Q2 vs 2025Q2 • Revenue grew 3.7% year over year, broadly in line with our expectations based on historical business trends and industry seasonality. 167 • The growth was primarily driven by certain customer engagement solution projects for OEMs be
Slide 19: Improved Operational Efficiency
Improved Operational Efficiency 3.0 Total Operating Expense 2.5 RMB MM 2.0 181% 303 1.5 92 1.0 2026Q2 57% • Total OPEX: increased primarily reflecting 37 0.5 RMB227.8M in share-based compensation upon the completion of the IPO in June and IPO-related expenses 0.0 92 • Excluding SBC: G&A, S&M and R&D
Slide 20: Clear Path to Profitability
Clear Path to Profitability Net Loss & Net Margin RMB MM Adjusted Net Loss & Adjusted Net Margin RMB MM 2025Q2 2026Q2 2025Q2 2026Q2 (19) (7) 125.0% 155.0% -25.0 (6) -35.0 (25) 105.0% -75.0 -85.0 85.0% 55.0% -125.0 (227) 65.0% -135.0 (16)% 45.0% -185.0 -175.0 -45.0% 25.0% -235.0 -225.0 5.0% (240) (1)
Slide 21: Clear Path to Profitability (Cont'd)
Clear Path to Profitability (Cont’d) Net Loss by Quarter (Unaudited) RMB MM Financial products referral business was divested in 350.0 309 2024.12(1) 300.0 246 245 235 242 250.0 226 186 182 192 200.0 167 161 167 143 147 150.0 100.0 50.0 0.0 2023Q1 2023Q2 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 202