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FinVolution(FINV) - 2024 Q1 - Quarterly Report
2024-03-19 10:42
Exhibit 99.1 FinVolution Group Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results -2023 Full Year Total Transaction Volume reached new record high of RMB194.3 billion, up 10.8% compared to Fiscal Year 2022- -2023 Full Year Net Revenues reached new record high to RMB12.5 billion, up 12.7% compared to Fiscal Year 2022- -2023 Full Year International Transaction Volume increased to RMB7.85 billion, up 84.7% compared to Fiscal Year 2022- -2023 Full Year International Revenues increased to RM ...
FinVolution(FINV) - 2023 Q4 - Earnings Call Presentation
2024-03-19 05:46
| --- | --- | --- | |--------------|-------|-----------------------| | | | | | | | | | | | FinVolution Group | | | | Investor Presentation | | | | | | . 27 g . ● | | March 2024 | LESSESSERSE ..... Disclaimer This presentation has been prepared by FinVolution Group (the "Company") pursuant to Section 5(d) of the U.S. Securities Act of 1933, as amended (the "Securities Act") solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instru ...
FinVolution(FINV) - 2023 Q4 - Earnings Call Transcript
2024-03-19 05:43
Financial Data and Key Metrics Changes - For full year 2023, total transaction volume reached RMB 194 billion, with an outstanding loan balance of RMB 67 billion, representing year-over-year increases of 11% and 4% respectively [8] - Net revenue for 2023 reached RMB 12.5 billion, up 13% year-over-year, while net income increased to RMB 2.38 billion, up 5% year-over-year [24][26] - Funding costs improved by around 100 basis points year-over-year, reflecting enhanced operational efficiency [9][19] Business Line Data and Key Metrics Changes - International transaction volume for 2023 soared to RMB 7.9 billion, and outstanding loan balance rose to RMB 1.3 billion, up 85% and 58% respectively compared to the prior year [8][20] - Revenue from the China market in 2023 expanded to RMB 10.4 billion, up 4% compared to the prior year [9] - The company served over 811,000 small business owners in 2023, facilitating RMB 47 billion of loans, up 80.5% year-over-year [10] Market Data and Key Metrics Changes - Cumulatively, the company served over 30 million borrowers across China, Indonesia, and the Philippines, with a net increase of around 3 million new borrowers year-over-year [7] - In Indonesia, the consumer confidence index remained high at 125 points in January 2024, indicating positive macroeconomic conditions [20] - The Philippines experienced fourth quarter GDP growth of 5.6% in 2023, contributing to a favorable environment for business expansion [20] Company Strategy and Development Direction - The company aims to become a leader in the fintech industry by providing inclusive financial solutions for underserved borrowers and small business owners [6] - The strategy includes a local focus and global outlook, with significant investments in technology and R&D to drive growth [11][14] - The company plans to continue expanding internationally by acquiring more licenses and entering new markets [13][14] Management Comments on Operating Environment and Future Outlook - Management noted that while the macroeconomic environment in China remains uncertain, there are signs of gradual recovery [29] - The company expects transaction volume in the China market for 2024 to be in the range of RMB 195.7 billion to RMB 205 billion, representing a year-over-year increase of around 5% to 10% [27] - International transaction volume is expected to grow by around 20% to 40% in 2024, reaching between RMB 9.4 billion to RMB 11 billion [27] Other Important Information - The company has a robust cash position with over RMB 7.9 billion in cash and short-term liquidity as of December 31, 2023, representing an increase of 12% year-over-year [25] - The company returned a total of US$160 million to shareholders in 2023, consisting of US$62 million in dividends and US$98 million through share purchases [26] Q&A Session Summary Question: Adjustments in lending strategy and outlook on asset quality - Management responded that they have reduced customer acquisitions from lower quality channels and tightened approval rates for borrowers more prone to economic uncertainties, leading to improved asset quality metrics [29][31] Question: Growth and profit outlook for Indonesian and Philippine markets - Management indicated that Indonesia's operations will focus on product adjustment and quality improvement in the first half of 2024, with expectations of achieving profitability [34] - For the Philippines, management expects rapid growth to continue, aiming for a number one market share position by the end of the year [35][39] Question: Customer acquisition cost targets and competitive landscape in the Philippines - Management stated that they will re-evaluate customer acquisition strategies in the second half of 2024, leveraging their advantages as a fintech company from China to capture market share [38][39] Question: Overall company positioning and capital return program - Management emphasized their commitment to high-quality growth and consistent capital return to shareholders, highlighting a cumulative return of over US$600 million since 2018 [41][42]
FinVolution Group Announces 10.2% Increase in Year-End Dividend to US$0.237 per ADS
Prnewswire· 2024-03-18 22:32
Marks FINV's sixth consecutive year of dividend declarations SHANGHAI, March 18, 2024 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its board of directors (the "Board") has approved a cash dividend of US$0.237 per American Depositary Share (ADS) for fiscal year 2023. The dividend is expected to be distributed on or around May 7, 2024 to shareholders of record as of the close of business on April 16, 2024. The decision to di ...
FinVolution Group to Report Fourth Quarter and Fiscal Year 2023 Financial Results on Monday, March 18, 2024
Prnewswire· 2024-03-05 11:00
-Earnings Call Scheduled for 8:30 p.m. ET on March 18, 2024- SHANGHAI, March 5, 2024 /PRNewswire/ -- FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform, today announced that it will report its fourth quarter and fiscal year 2023 unaudited financial results, on Monday, March 18, 2024, after the close of U.S. markets. The Company's management will host an earnings conference call at 8:30 PM U.S. Eastern Time on March 18, 2024 (8:30 AM Beijing/Hong Kong Time on March 1 ...
Bargain Buys: 3 Stocks Under $20 with Triple-Digit Growth Potential
InvestorPlace· 2024-03-04 20:09
If you’re on a budget but still wanting to develop your portfolio, check out these three bargain growth stocks under $20. In the stock market, there is no other charm like bargain-basement picks. Such hidden gems not only promise bargains, but deliver substantial growth and demonstrate resilience in the face of market fluctuations.Three stocks under $20 a share represent such hidden gems, each with the potential for triple-digit growth. These are not mere sticks of paper, after all; they are portfolios of p ...
FinVolution Remains A Long-Term Bullish Play
Seeking Alpha· 2024-02-08 04:59
GOCMEN Intro We wrote about FinVolution Group (NYSE:FINV) in July of last year when we went through the key financial trends & metrics that make up the company's dividend. In the company's short history, management has rewarded shareholders well through both an above-average dividend (encompassing strong growth levels) as well as significant share buybacks. Although earnings fell by approximately $0.20 per share in fiscal 2022, FinVolution's well-covered dividend, strong balance sheet, and expectation of a ...
Leapstack has raised nearly 200 million RMB in Series C+ Funding, building a diversified technological value chain for health insurance
Prnewswire· 2024-01-18 14:23
SHANGHAI, Jan. 18, 2024 /PRNewswire/ -- Leapstack, a prominent insurtech company, recently secured an impressive 200 million RMB yuan in Series C+ Funding, led by Qiming Venture Partners. The funding round also saw active participation from Soochow Yihe Capital, and existing shareholder Legend Capital, with exclusive financial advisory services provided by MountainView Capital. As a technology-driven enterprise, Leapstack specializes in cutting-edge digital solutions for medical insurance. The company offer ...
FinVolution(FINV) - 2023 Q3 - Earnings Call Transcript
2023-11-21 21:13
FinVolution Group (NYSE:FINV) Q3 2023 Results Conference Call November 20, 2023 7:30 PM ET Company Participants Jimmy Tan - Head, IR Tiezheng Li - CEO Jiayuan Xu - CFO Conference Call Participants Alex Ye - UBS Yada Li - CICC Cindy Wang - China Renaissance Operator Hello, ladies and gentlemen. Thank you for participating in the Third Quarter 2023 Earnings Conference Call for FinVolution Group. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a ques ...
FinVolution(FINV) - 2023 Q4 - Annual Report
2023-11-20 16:00
FinVolution Group Reports Third Quarter 2023 Unaudited Financial Results -International transaction volume increased 99.1% year-over-year, contributing 18.3% of total revenue- -International revenue reached RMB584.8 million, a year-over-year increase of 67.3%- SHANGHAI, Nov. 20, 2023 /PRNewswire/ – FinVolution Group ("FinVolution" or the "Company") (NYSE: FINV), a leading fintech platform, today announced its unaudited financial results for the third quarter ended September 30, 2023. | --- | --- | --- | --- ...