Financial Data and Key Metrics - Loan facilitation volume reached RMB24 billion, exceeding the previous guidance of RMB23 billion [7][20] - Net revenue was RMB1.476 billion, a 15.5% year-over-year increase [7][20] - Net income decreased by 27% to RMB238.3 million compared to RMB326.3 million in the same period of 2023 [22] - Cash and cash equivalents increased to RMB880.2 million, up from RMB568.2 million at the end of the previous quarter [22] Business Line Data and Key Metrics - Loan facilitation services revenue growth moderated to 2.8%, driven by service fee optimization [20] - Guarantee services revenue in Q2 2024 was RMB424 million, significantly higher than RMB197 million in Q2 2023 [26] - New borrowers reached 680,000, reflecting a 32.9% year-over-year growth [11] - Repeat borrowing rate remained stable at 67.1% [12] Market Data and Key Metrics - In Indonesia, loan size increased by 25% compared to the previous quarter [14] - In Mexico, the company focused on improving business infrastructure and exploring long-term products [15] - In Nigeria, business scale increased compared to the previous quarter, with local regulations being implemented to regulate financial loan applications [15][16] Company Strategy and Industry Competition - The company is advancing technological transformation, integrating AI into customer services, decision support, and personalized marketing [8] - Partnerships with 69 financial institutions were established, with talks ongoing with an additional 35 [9] - The company is exploring new businesses, including car loan matching services and expanding services for small and micro business owners [10] - The company is focusing on high-quality growth, stable pricing, and continuous optimization of capital costs [29] Management Commentary on Operating Environment and Future Outlook - The macroeconomic environment in China is moving forward under pressure, with cautious consumer credit demand [6] - The company is cautiously optimistic about the overall economic environment and expects strong borrower demand for credit products in Q3 [32] - The company set Q3 guidance for loan facilitation volume at approximately RMB25 billion [18][31] Other Important Information - The company released its 2023 ESG report, focusing on technology empowerment, employee care, environmental protection, and social welfare [17] - A dividend distribution plan of $0.5 per ADS was announced, with a total amount of approximately $26.6 million [18] Q&A Session Summary Question: Net revenue increased by 15.5%, but net income decreased by 27%. How does management expect the take rate and net margin to change in the future? [25] - The decrease in net income was due to the structural difference in revenue, with a higher proportion of lower-margin guarantee business [26] - Strategic investments in borrower acquisition and R&D also contributed to the decline in net income [27] - The company expects profit margins to increase in the second half of 2024 due to continuous optimization of revenue structure and strategic investments [29] Question: Will the loan facilitation volume growth rate continue or accelerate in the future? [25] - The company set Q3 guidance at RMB25 billion, reflecting a cautious but confident approach to growth [31] - The company is balancing health and sustainability in borrower demand and strengthening risk management processes [32] Question: Why did the repeat borrowing rate drop, and what strategies are in place to retain borrowers and optimize marketing spend? [35] - The drop in repeat borrowing rate is due to increased efforts to acquire new borrowers and reduced credit limits for each borrower [37] - The company is focusing on maintaining stable facilitation volume while expanding the borrower base [38] Question: How did the company achieve cash flow growth, and what are the plans for cash flow use? [35] - Cash flow growth was driven by strong profitability, operating cash flow, and optimization of the guarantee business [39] - The company plans to continue implementing dividend policies and share repurchase plans to reward shareholders [40]

Core Viewpoint - Jiayin Group Inc. reported stable loan facilitation volume and significant growth in net revenue for the second quarter of 2024, despite declines in net income and operating income, indicating resilience in its business model amid evolving market conditions [2][3]. Financial Performance - Total loan facilitation volume remained stable at RMB 24.0 billion (US$3.3 billion) for the second quarter of 2024, unchanged from the same period in 2023 [2]. - Net revenue increased by 15.5% to RMB 1,476.3 million (US$203.1 million) compared to RMB 1,277.8 million in the second quarter of 2023 [4]. - Revenue from loan facilitation services rose by 2.8% to RMB 951.1 million (US$130.9 million) due to service fee optimization [4]. - Income from operations decreased by 38.5% to RMB 227.1 million (US$31.3 million) [6]. - Net income fell by 27.0% to RMB 238.3 million (US$32.8 million) from RMB 326.3 million in the same period of 2023 [7]. Operational Metrics - The average borrowing amount per transaction decreased by 12.4% to RMB 9,080 (US$1,249) [2]. - The repeat borrowing rate declined to 67.1% from 70.1% in the same period of 2023 [2]. Expenses - Facilitation and servicing expenses increased by 70.9% to RMB 608.2 million (US$83.7 million) primarily due to higher guarantee costs [5]. - Sales and marketing expenses rose by 15.7% to RMB 486.6 million (US$67.0 million) due to increased borrower acquisition costs [5]. - General and administrative expenses increased by 29.8% to RMB 65.0 million (US$8.9 million) driven by higher payroll and share-based compensation [5]. Cash Position - Cash and cash equivalents increased to RMB 880.2 million (US$121.1 million) as of June 30, 2024, compared to RMB 568.2 million as of March 31, 2024 [7]. Business Outlook - The company expects loan facilitation volume for the third quarter of 2024 to reach approximately RMB 25 billion, reflecting confidence in the improving economic environment [9]. Recent Developments - The Board of Directors approved a cash dividend of US$0.125 per ordinary share, with an aggregate distribution expected to be approximately US$26.6 million [10]. - The share repurchase plan was extended for an additional 12 months, with a total value not exceeding US$30 million [12]. ESG Commitment - The company published its 2023 ESG report, highlighting its commitment to corporate sustainability and ethical practices, including initiatives to enhance service quality and promote low-carbon practices [13][14].

SHANGHAI, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. (“Jiayin” or the “Company”) (NASDAQ: JFIN), a leading fintech platform in China, today announced that its board of directors approved the payment of cash dividends of US$0.125 per ordinary share, or US$0.50 per American depositary share (“ADS”). The holders of the Company’s ordinary shares shown on the Company’s record at the close of trading on August 27, 2024 (U.S. Eastern Time) will be entitled to these dividends. These shareholders, including ...

SHANGHAI, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. (“Jiayin” or the “Company”) (NASDAQ: JFIN), a leading fintech platform in China, today announced that it will release its unaudited financial results for the second quarter of 2024 before the U.S. market opens on Tuesday, August 27, 2024. The Company will conduct a conference call to discuss its financial results on Tuesday, August 27, 2024 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day). What:Jiayin Group Second Qua ...

SHANGHAI, China, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. ("Jiayin" or the "Company") (NASDAQ:JFIN), a leading fintech platform in China, today published its 2023 Environmental, Social, and Governance (ESG) Report. This publication, the Company's third ESG report, highlights Jiayin's ongoing commitment to corporate sustainability, ethical business practices, and transparent governance. In 2023, Jiayin continued its commitment to creating societal value and accelerating digital transformation. The ...

SHANGHAI, China, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. (“Jiayin” or the “Company”) (NASDAQ: JFIN), a leading fintech platform in China, today published its 2023 Environmental, Social, and Governance (ESG) Report. This publication, the Company’s third ESG report, highlights Jiayin’s ongoing commitment to corporate sustainability, ethical business practices, and transparent governance. In 2023, Jiayin continued its commitment to creating societal value and accelerating digital transformation. Th ...

imaginima/iStock via Getty Images Jiayin Group (NASDAQ:JFIN) is one of the smaller fintech companies in China; it has a strong track record of growth and a very strong balance sheet. The potential for outsized returns is appealing, but JFIN might not beat the market over 5+ years in stock price alone. Despite this, if management's initiatives go as planned, my 5Y price target of $13.34 indicates price alpha. It offers moderate deep value at the moment, but its lack of a USP and service/product originali ...

Jiayin Group Inc. (NASDAQ:JFIN) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET Company Participants Shawn Zhang - Investor Relations Dinggui Yan - Founder and Chief Executive Officer Chunlin Fan - Chief Financial Officer Yifang Xu - Chief Risk Officer Conference Call Participants Rong Hua - Jinyu Asset Management Yuxuan Chen - Huatai Securities Operator Good day, ladies and gentlemen. Thank you for standing by and welcome to the Jiayin Group's First Quarter 2024 Earnings Conference Call. Currently ...

-- First Quarter Total Loan Facilitation Volume Grew 13.6% to RMB22.5 billion ---- First Quarter Net Revenue Grew 31.5% to RMB1,475.3 million -- SHANGHAI, June 06, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. ("Jiayin" or the "Company") (NASDAQ:JFIN), a leading fintech platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Operational and Financial Highlights: Loan facilitation volume1 was RMB22.5 billion (US$3.1 billion), representin ...

SHANGHAI, China, May 30, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. ("Jiayin" or the "Company") (NASDAQ:JFIN), a leading fintech platform in China, today announced that it will release its unaudited financial results for the first quarter of 2024 before the U.S. market opens on Thursday, June 6, 2024. The Company will conduct a conference call to discuss its financial results on Thursday, June 6, 2024 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day). What:Jiayin Group First Quar ...