Core Insights - The article emphasizes the importance of looking beyond U.S. large caps for investment opportunities, particularly in undervalued international stocks [1][3][9] - The Benzinga Value Ranking is introduced as a systematic, numbers-driven tool to identify the cheapest stocks globally based on multiple valuation metrics [2][5] Investment Strategy - Investors are encouraged to focus on the top decile of the Benzinga Value Ranking, specifically targeting non-U.S. stocks to access the cheapest part of the global market [7][9] - The current market environment is characterized by extreme valuation dispersion outside the U.S., with many profitable companies trading at low earnings multiples [4][6] Company Highlights - **POSCO Holdings (NYSE:PKX)**: A leading steel producer in South Korea, trading at discounted multiples despite controlling high-quality assets [11] - **Sasol Ltd. (NYSE:SSL)**: An integrated energy and chemicals company in South Africa, generating substantial cash flow but heavily discounted due to past operational issues [12] - **Korea Electric Power Corp. (NYSE:KEP)**: The backbone of South Korea's power system, facing extreme low valuation multiples due to government pricing controls [13] - **LuxExperience (NYSE:LUXE)**: A niche luxury travel company in the Netherlands, undervalued due to lack of investor attention rather than demand collapse [14] - **Gerdau (NYSE:GGB)**: Brazil's largest long steel producer, trading at low multiples despite consistent cash flow generation [15] - **Honda Motor (NYSE:HMC)**: A global manufacturing leader in Japan, undervalued due to lack of hype around its steady profits and cash flow [16] - **SK Telecom (NYSE:SKM)**: South Korea's largest wireless carrier, undervalued due to low growth expectations despite reliable cash generation [18] - **Jiayin Group (NASDAQ:JFIN)**: A Chinese fintech company facing regulatory uncertainty, leading to extreme valuation discounts [19] - **FinVolution Group (NYSE:FINV)**: Another Chinese fintech platform, similarly undervalued due to regulatory challenges and investor distrust [20] - **KT Corp. (NYSE:KT)**: A leading telecommunications provider in South Korea, generating stable cash flow but facing compressed valuation multiples [21]

Core Viewpoint - JFIN (JiaYin Technology) shows strong financial performance with significant revenue and profit growth, reflecting its successful technology-driven strategy in the financial services sector [1][2]. Financial Performance - As of September 30, 2025, JiaYin Technology reported total revenue of 5.132 billion RMB, representing a year-on-year increase of 16.73% [1]. - The company's net profit attributable to shareholders reached 1.435 billion RMB, marking a substantial year-on-year growth of 83.76% [1]. Company Overview - JiaYin Technology, founded by Mr. Yan Dinggui on June 18, 2011, is headquartered in Shanghai, China, and was successfully listed on NASDAQ on May 10, 2019, under the stock code JFIN [1]. - The company focuses on connecting consumers with financial institutions through advanced technologies such as big data, cloud computing, and artificial intelligence [1]. Technological Innovations - JiaYin Technology has developed several innovative platforms, including: - "TianYin" intelligent fund management platform for efficient asset matching [2]. - "MingJian" intelligent risk control engine to significantly enhance risk management capabilities [2]. - "DaYu" data asset management platform to improve data governance [2]. - "ChangE" intelligent voice call platform for compliant and considerate post-loan services [2]. - These innovations have led to digital process optimization, automated supervision, and scientific decision-making, strengthening the foundation of the digital economy [2]. Global Expansion - JiaYin Technology's business has expanded to various regions, including Southeast Asia, Africa, and Latin America, with plans for further international growth [1].

Core Insights - The overall revenue of the six listed fintech companies showed steady growth, but profitability exhibited significant divergence, with some companies experiencing a reverse trend between revenue and net profit [3][4][6] - The implementation of new regulations has led to a concentration of resources among compliant leading firms, while smaller institutions face increased compliance costs and reduced collaboration opportunities [6][10] Revenue Performance - Q3 revenue figures indicate that Qifu Technology led the industry with 5.21 billion yuan, a year-on-year increase of 19.1%, while other companies like Xinye Technology and Yirendai reported revenues between 1.96 billion to 3.49 billion yuan, with growth rates ranging from 1.8% to 23.9% [3][4] - Conversely, Lexin's revenue decreased to 3.42 billion yuan year-on-year [3] - Net profit trends were more complex, with Qifu Technology's net profit declining despite revenue growth, and Yirendai also showing a decrease in net profit [3][4] Market Dynamics - As of the end of September, Qifu Technology held the largest loan balance at 138.1 billion yuan, followed by Lexin and Xinye Technology, indicating a clear trend of resource concentration among leading platforms [4][6] - The new regulations are expected to further enhance market concentration, with leading firms gaining more market share as smaller platforms exit the market [4][6] Regulatory Impact - The new lending regulations, effective from October 1, have begun to influence the industry, pushing resources towards compliant firms and increasing operational challenges for smaller institutions [6][10] - The regulations require banks to unify various fees into a comprehensive financing cost, strictly capping it at an annualized rate of 24% [6][10] Strategic Adjustments - Companies are shifting their business models in response to the new regulations, with some moving towards a heavier capital model while others are enhancing their ecosystem strategies [6][7] - Lexin's ecosystem strategy has shown resilience, with significant growth in its installment e-commerce platform and a focus on small and micro customer segments [7][8] International Expansion - Several companies are actively pursuing international growth, with Xinye Technology reporting that 25% of its total revenue now comes from overseas, and other firms like Yirendai and Qifu Technology also exploring opportunities in Southeast Asia and other regions [7][8] Future Outlook - The industry is expected to face short-term pressures due to ongoing adjustments, but there is optimism for long-term sustainable growth as companies enhance risk management and operational efficiency [10][11] - The focus is shifting from rapid expansion to refined operations and technological empowerment, with AI applications becoming increasingly integral to business strategies [10][11]

Core Insights - U.S. stock futures are up, with Nasdaq futures increasing by approximately 50 points [1] - Nutanix Inc reported disappointing first-quarter financial results, leading to a significant drop in its stock price [2] Company Performance - Nutanix reported earnings of 21 cents per share, missing the analyst consensus estimate of 41 cents per share [2] - Quarterly sales for Nutanix were $670.576 million, falling short of the analyst consensus estimate of $676.750 million [2] - Following the earnings report, Nutanix shares fell by 16.8% to $48.86 in pre-market trading [2] Other Stocks Movement - Jiayin Group Inc (ADR) saw a decline of 7.8% to $6.83 in pre-market trading [4] - Zscaler Inc dropped 7.2% to $269.00 after reporting first-quarter financial results [4] - Ambarella Inc's stock fell 6.7% to $84.84 following its quarterly results [4] - Workday, Inc. declined 6.3% to $219.00 after its third-quarter results [4] - Pagerduty Inc decreased by 5.8% to $14.30 after mixed third-quarter results and lowered FY26 sales guidance [4] - HP Inc fell 5.7% to $22.94 after issuing first-quarter EPS guidance below estimates [4] - Deere & Company declined 4.7% to $474.95 after reporting fourth-quarter results and a worse-than-expected FY26 outlook [4] - Vera Therapeutics, Inc. dropped 3.5% to $28.40 in pre-market trading [4]

Core Insights - The company reported a revenue of 1.47 billion RMB for Q3 2025, a 1.8% increase compared to the same period in 2024, and a net profit of 380 million RMB, reflecting a 39.7% growth year-on-year [1][2] - The domestic loan facilitation transaction volume reached 32.2 billion RMB, showing a year-on-year growth of approximately 20.6% [1] - The overseas market has become a key pillar for the company's growth, with the business scale in Indonesia nearly doubling year-on-year and the number of loan users increasing by about 1.5 times [1] Financial Performance - The company achieved a Non-GAAP operating profit of 490 million RMB in Q3, meeting previously set performance guidance [1] - The overdue rate for loans over 90 days stood at 1.33% as of the end of Q3 [2] - The company has set a Q4 2025 transaction volume guidance of 23 to 25 billion RMB, with an annual transaction volume target of 127.8 to 129.8 billion RMB, representing a year-on-year growth of approximately 26.8% to 28.8% [2] Customer Acquisition and Technology - The proportion of repeat borrowing customers in transaction volume increased to 78.6%, contributing to an average loan amount of 9,115 RMB, which is a year-on-year increase of about 19.5% [2] - The company has deployed over 300 intelligent agents, achieving an internal monthly active penetration rate of over 40%, enhancing the efficiency of independent AI agent development [2] - The "Fuxi" model management platform has reduced the time from model development to production from 32 days to 16 days, with the number of models deployed increasing nearly threefold [2]

Core Insights - The company reported a loan facilitation volume of RMB 32.2 billion for Q3 2025, marking a year-on-year increase of approximately 20.6% and achieving non-GAAP income from operations of RMB 190 million, up around 50.3% year-on-year, in line with guidance [1][12][13] Financial Performance - Net revenue for the quarter was RMB 1.47 billion, reflecting a year-on-year increase of 1.8% [13] - The company’s net profit for Q3 was RMB 376 million, representing a net margin of 25.6%, slightly down from 27.5% in Q2 [23] - Full-year non-GAAP operating profit guidance is set at RMB 1.99 billion to RMB 2.06 billion, indicating a growth of approximately 52.3% to 57.6% year-on-year [12][25] Market Environment - China's GDP grew by 4.8% year-on-year in Q3, with consumption contributing 56.6% to this growth, indicating a stable economic environment [2] - The demand for consumer finance is rising steadily, with a narrow consumer credit balance up 4.2% year-on-year as of September 30 [2] Risk Management - The company has observed pressure on overall risk indicators and fluctuations in asset quality, prompting a rapid iteration of its risk control model [5] - The ninety-plus day delinquency rate stood at 1.33% at the end of Q3, with a focus on high-quality borrower segments for new customer acquisition [5] Technological Advancements - The company has made significant innovations in AI development, enhancing fraud detection capabilities and operational efficiency [6][7][8] - The integration of multimodal capabilities has reduced fraud detection time from a week to within two hours [8] Strategic Outlook - The company projects its loan facilitation volume for Q4 2025 to be between RMB 23 billion and RMB 25 billion, with full-year volume expected to be in the range of RMB 127.8 billion to RMB 129.8 billion, representing a year-on-year increase of approximately 26.8% to 28.8% [12][25] - The implementation of new loan facilitation regulations is expected to create a more compliant and sustainable industry environment, with a focus on higher-quality borrower segments [24][19]

Financial Data and Key Metrics Changes - In Q3 2025, the company facilitated RMB 32.2 billion in loan volume, a year-on-year increase of approximately 20.6% [6] - Non-GAAP income from operations was RMB 490 million, up around 50.3% year-on-year [6] - Net income for Q3 was RMB 376.5 million, representing an increase of 39.7% from the same period in 2024 [26] - The net margin for Q3 was 25.6%, slightly down from 27.5% in Q2 [35] Business Line Data and Key Metrics Changes - The company maintained cooperation with 75 financial institutions, with another 64 under negotiation, enhancing funding supply stability [7] - The share of repeat borrowers in facilitation volume rose to 78.6%, driving the average borrowing amount per transaction up to RMB 9,115, a year-on-year increase of approximately 19.5% [10] Market Data and Key Metrics Changes - China's GDP grew by 4.8% year-on-year in Q3 2025, with consumption contributing 56.6% to growth [5] - The consumer credit balance increased by 4.2% year-on-year as of September 30 [5] Company Strategy and Development Direction - The company is focusing on high-quality borrower segments and optimizing resource allocation efficiency [10] - A cautious strategy for new customer acquisition has been adopted, emphasizing high-quality borrowers [10] - The company is enhancing its technological capabilities, particularly in AI, to improve operational efficiency and risk management [12][15] Management's Comments on Operating Environment and Future Outlook - The new loan facilitation regulation has created significant downward pressure on pricing and emphasized consumer protection [30] - The company expects Q4 loan facilitation volume to be between RMB 23 billion and RMB 25 billion, with full-year volume projected at RMB 127.8 billion to RMB 129.8 billion, representing a year-on-year increase of approximately 26.8% to 28.8% [21] - Management anticipates that the enforcement of new regulations will raise industry entry barriers and promote healthier sector development [38] Other Important Information - The company ended Q3 with RMB 124.2 million in cash and cash equivalents, down from RMB 316.2 million at the end of the previous quarter [26] - The company has made significant investments in its Indonesian business, achieving nearly 200% year-on-year growth [19] Q&A Session Summary Question: Impact of new regulation on business and strategic adjustments - Management noted that the new regulation has significantly impacted the industry, leading to pricing pressure and a focus on consumer protection. The company has intensified adjustments in traffic acquisition and adopted a more cautious customer acquisition strategy [30][32] Question: Revenue take rate and margin expectations - Management indicated that the net margin for Q3 was 25.6%, slightly down from the previous quarter. They expect profitability for the full year of 2025 to be significantly higher than in 2024, despite short-term pressures from the new regulation [35][38]

Financial Data and Key Metrics Changes - In Q3 2025, the company facilitated RMB 32.2 billion in loan volume, a year-on-year increase of approximately 20.6% [6] - Non-GAAP income from operations was RMB 490 million, up around 50.3% year-on-year [6] - Net income for Q3 was RMB 376.5 million, representing an increase of 39.7% from the same period in 2024 [26] - Basic and diluted net income per share was RMB 1.83, compared to RMB 1.27 in Q3 2024 [26] - The company ended the quarter with RMB 124.2 million in cash and cash equivalents, down from RMB 316.2 million at the end of the previous quarter [26] Business Line Data and Key Metrics Changes - The company maintained cooperation with 75 financial institutions, with another 64 under negotiation, enhancing funding supply stability [7] - The share of repeat borrowers in facilitation volume rose to 78.6%, driving the average borrowing amount per transaction up to RMB 9,115, a year-on-year increase of approximately 19.5% [10] Market Data and Key Metrics Changes - The Indonesian business saw nearly 200% year-on-year growth in business scale, with the number of borrowers increasing by approximately 150% [19] - In Mexico, loan volume and user base maintained rapid growth, indicating initial success in market expansion [19] Company Strategy and Development Direction - The company is focusing on high-quality borrower segments and optimizing resource allocation efficiency through a cautious customer acquisition strategy [10][30] - The implementation of new loan facilitation regulations is expected to raise industry entry barriers and drive the sector towards healthier and more sustainable development [37] - The company aims to advance its Four Plus Two Strategy, focusing on major application directions and leveraging key infrastructure platforms for technological breakthroughs [17] Management's Comments on Operating Environment and Future Outlook - The management noted that the recent regulatory policies are creating a favorable environment for the long-term sustainable development of the industry [5] - The company projects Q4 loan facilitation volume at RMB 23 billion to RMB 25 billion, with full-year volume expected to be in the range of RMB 127.8 billion to RMB 129.8 billion, representing a year-on-year increase of approximately 26.8% to 28.8% [21] - Full-year non-GAAP operating profit guidance is set at RMB 1.99 billion to RMB 2.06 billion, reflecting a growth of approximately 52.3% to 57.6% [21] Other Important Information - The company has achieved significant innovations in AI development, establishing a technical benchmark of high performance and low cost [12] - The integration of multimodal capabilities has significantly improved fraud detection timeliness, compressing it from a week to within two hours [15] Q&A Session Summary Question: Impact of new regulation on business and strategic adjustments - Management indicated that the new regulation has significantly impacted the industry, leading to downward pricing pressure and a focus on consumer protection. The company has intensified adjustments in traffic acquisition and adopted a more cautious customer acquisition strategy [30][32] Question: Revenue take rate and margin expectations - Management noted that the net margin for Q3 was 25.6%, a slight decrease from the previous quarter. They expect profitability to be significantly higher than in 2024, despite short-term pressures from the new regulation [35][37]

Financial Data and Key Metrics Changes - In Q3 2025, the company facilitated RMB 32.2 billion in loan volume, a year-on-year increase of approximately 20.6% [4][13] - Non-GAAP income from operations was RMB 490 million, up around 50.3% year-on-year [4][15] - Net income for the third quarter was RMB 376.5 million, representing an increase of 39.7% from the same period in 2024 [16] - Basic and diluted net income per share was RMB 1.83, compared to RMB 1.27 in Q3 2024 [16] Business Line Data and Key Metrics Changes - The company maintained cooperation with 75 financial institutions, with another 64 under negotiation, enhancing funding supply stability [5] - The 90-plus-day delinquency rate stood at 1.33% at the end of Q3 [6] - The share of facilitation volume from repeat borrowers rose to 78.6%, driving the average borrowing amount per transaction up to RMB 9,115, a year-on-year increase of approximately 19.5% [6][7] Market Data and Key Metrics Changes - China's GDP grew by 4.8% year-on-year in Q3 2025, contributing to a stable environment for consumer finance [4] - Demand for consumer finance has been rising steadily, with a narrow consumer credit balance up 4.2% year-on-year as of September 30 [4] Company Strategy and Development Direction - The company is focusing on high-quality borrower segments and optimizing resource allocation efficiency [6] - A cautious strategy for new customer acquisition has been adopted, emphasizing high-quality borrowers [6] - The company aims to navigate cyclical headwinds with lean operational capabilities for sustainable growth [12] Management's Comments on Operating Environment and Future Outlook - The implementation of new regulations in October has created significant downward pressure on pricing and emphasized consumer protection [18] - The company expects Q4 loan facilitation volume to reach RMB 23-25 billion, with full-year volume projected at RMB 127.8-129.8 billion, representing a year-on-year increase of approximately 26.8%-28.8% [12][21] - Long-term, the enforcement of new regulations is expected to raise industry entry barriers and promote healthier sector development [20] Other Important Information - The company has made significant investments in AI development, achieving innovations that enhance fraud detection and operational efficiency [8][9] - The Indonesian business saw nearly 200% year-on-year growth, with a 150% increase in the number of borrowers [11] Q&A Session Summary Question: Impact of new regulation on business and strategic adjustments - Management noted significant impacts from the new regulation, including pricing pressure and a focus on consumer protection, leading to adjustments in customer acquisition strategies and borrower segmentation [18][19] Question: Revenue take rate and margin expectations - The company facilitated RMB 32.2 billion in volume in Q3 2025, with a net margin of 25.6%, slightly down from 27.5% in Q2 [20]

Group 1 - Jiayin Group Inc. (JFIN) expects non-GAAP income from operations for the full year of 2025 to be between RMB 1.99 billion and RMB 2.06 billion [1] - The company anticipates loan facilitation volume for the full year of 2025 to range from RMB 127.8 billion to RMB 129.8 billion, with the fourth quarter expected to be between RMB 23.0 billion and RMB 25.0 billion [1] Group 2 - For the third quarter, Jiayin Group reported a net income of RMB 376.5 million, reflecting a 39.7% increase compared to the same period in 2024 [2] - Net income per ADS for the third quarter was RMB 7.32, up from RMB 5.08 [2] - Non-GAAP income from operations for the third quarter was RMB 490.6 million, compared to RMB 326.5 million in the previous year [2] - The third quarter net revenue reached RMB 1.47 billion, marking a 1.8% increase from the same period in 2024 [2] - Loan facilitation volume for the third quarter was RMB 32.2 billion, which is a 20.6% increase from the same period in 2024 [2]