Core Viewpoint - JiaYin Technology (JFIN.US) has launched its self-developed "Fuxi" model management platform, which leverages strong model management capabilities and intelligent algorithm technology to enhance data application potential and optimize model training, thereby promoting digital transformation in enterprises [1][2]. Group 1: Platform Features - "Fuxi" is named after the cultural ancestor of the Huaxia nation, symbolizing wisdom and innovation, and aims to achieve breakthroughs in model management capabilities in the era of large models [2]. - The platform provides a full-stack solution that allows modelers and developers to quickly and easily build and train machine learning models, significantly lowering development barriers and improving efficiency [2]. - "Fuxi" seamlessly integrates with enterprise data warehouses and big data platforms, enabling centralized management of offline model information, performance evaluation, and efficient governance of model data [2]. Group 2: Performance Improvements - The deployment efficiency of models has increased by 300%, with significant improvements in model data preprocessing efficiency, model stability, and task execution speed [2]. - The platform excels in model asset management, service management, and monitoring, achieving abstraction and unified management of the modeling process [2]. - "Fuxi" supports independent model operation clusters, ensuring stability and scalability of the model runtime environment to meet varying business load demands [6]. Group 3: Advantages of the Platform - The platform features a simple and user-friendly model deployment method that integrates deeply with the development environment, greatly simplifying the model release process [3]. - It enhances the reusability of model parameter configurations through configurable deployment parameters and easy orchestration, improving flexibility and efficiency in model development [4]. - A unified model stability and performance evaluation system is established, allowing for timely identification and resolution of potential issues before production, ensuring high quality and reliability of models [5]. Group 4: Future Development - "Fuxi" will continue to evolve towards model system construction and application expansion, transitioning from intelligent system functions to AI upgrades, and providing more convenient collaborative modeling capabilities [9]. - The launch of the "Fuxi" model management platform represents JiaYin Technology's commitment to technological innovation, aiming to create a new model of digital transformation through "technology research and development - scenario implementation - ecosystem co-construction" [9].

Core Viewpoint - JFIN's stock price increased by 2.96% to $12.54 per share, with a total market capitalization of $669 million as of May 19, 2023, despite a decline in net profit [1] Financial Performance - As of December 31, 2024, JFIN reported total revenue of 5.801 billion RMB, representing a year-on-year growth of 6.11% [1] - The company's net profit attributable to shareholders was 1.056 billion RMB, showing a year-on-year decrease of 18.58% [1] Upcoming Events - JFIN is scheduled to disclose its Q1 2025 financial report on June 5, 2023, with the actual date subject to company announcement [2] Company Overview - JFIN, founded by Mr. Yan Dinggui on June 18, 2011, is a leading technology service group in China, headquartered in Shanghai [2] - The company went public on NASDAQ on May 10, 2019, under the stock code JFIN [2] - JFIN focuses on connecting consumers with financial institutions through big data, cloud computing, and artificial intelligence [2] Technological Innovations - JFIN has developed several technology-driven platforms, including: - "Tianyin" for intelligent fund management - "Mingjian" for intelligent risk control - "Dayu" for data asset management - "Chang'e" for intelligent voice calling services [3] - These innovations have led to digital process optimization, automated supervision, and scientific decision-making, enhancing the company's digital capabilities [3]

Core Viewpoint - JFIN's stock price increased by 4.89% on May 12, reaching $13.395 per share, with a total market capitalization of $715 million. The company reported a total revenue of 5.801 billion RMB for the year ending December 31, 2024, reflecting a year-on-year growth of 6.11%, while the net profit attributable to shareholders decreased by 18.58% to 1.056 billion RMB [1][2]. Group 1 - JFIN is set to disclose its Q1 2025 financial report on June 5, with the actual date subject to company announcements [2]. - Founded in June 2011 by Mr. Yan Dinggui, JFIN is a leading technology service group in China, focusing on connecting consumers with financial institutions through big data, cloud computing, and artificial intelligence [2]. - JFIN has expanded its business globally, covering regions such as Southeast Asia, Africa, and Latin America, with plans for further expansion [2]. Group 2 - The company has implemented a comprehensive technology strategy, resulting in various innovative platforms such as the "Tianyin" intelligent fund management platform, "Mingjian" intelligent risk control engine, "Dayu" data asset management platform, and "Chang'e" intelligent voice call platform [3]. - These technological innovations have led to digitalization of processes, automation of supervision, and scientific decision-making, thereby strengthening the foundation of the digital economy and rapidly enhancing digital capabilities [3].

Core Viewpoint - JFIN (嘉银科技) has shown a modest increase in stock price and reported mixed financial results, indicating both growth in revenue and a decline in net profit, while continuing to focus on technological innovation and expansion into global markets [1][2]. Financial Performance - As of December 31, 2024, JFIN reported total revenue of 5.801 billion RMB, representing a year-on-year growth of 6.11% [1]. - The company's net profit attributable to shareholders was 1.056 billion RMB, reflecting a year-on-year decrease of 18.58% [1]. Company Overview - JFIN is a leading technology service group in China, founded by Mr. Yan Dinggui on June 18, 2011, and headquartered in Shanghai [1]. - The company was successfully listed on NASDAQ on May 10, 2019, under the stock code JFIN [1]. Technological Innovations - JFIN has developed several innovative platforms, including: - "Tianyin" intelligent fund management platform for efficient asset matching [2]. - "Mingjian" intelligent risk control engine for optimizing risk management [2]. - "Dayu" data asset management platform for enhancing data governance [2]. - "Chang'e" intelligent voice call platform for compliant post-loan services [2]. - These innovations have led to digitalization of processes, automation of supervision, and scientific decision-making, strengthening the foundation of the digital economy [2]. Global Expansion - JFIN's business has expanded to regions including Southeast Asia, Africa, and Latin America, with plans for further promotion in more countries and regions [1].

Core Viewpoint - Jiayin Group Inc. has filed its annual report for the fiscal year ended December 31, 2024, with the SEC, highlighting its position as a leading fintech platform in China [1]. Group 1: Company Overview - Jiayin Group Inc. is a prominent fintech platform in China, established in 2011, focused on connecting underserved individual borrowers with financial institutions [3]. - The company operates a secure platform featuring a comprehensive risk management system and a proprietary risk assessment model that utilizes advanced big data analytics and algorithms [3]. Group 2: Financial Reporting - The annual report includes audited consolidated financial statements and is available for shareholders and ADS holders upon request [2].

Financial Performance - The consolidated VIE had accumulated deficits of RMB965 million, RMB636 million, and RMB614 million (US$84 million) as of December 31, 2022, 2023, and 2024, respectively [47]. - Cash dividends received from PRC subsidiaries were nil, RMB157.7 million, and RMB303.7 million (US$41.6 million) for the years 2022, 2023, and 2024, respectively [50]. - As of the date of the report, dividends of RMB461.4 million (US$63.2 million) have been made to the Parent by its subsidiaries [52]. - Jiayin Technology paid a cash dividend of RMB400 million to its shareholders in March 2018 before entering into the Contractual Arrangements [53]. - The company reported a net income of RMB 1,056,468 for the year ended December 31, 2024, a decrease from RMB 1,297,576 in 2023, indicating a decline of about 18.6% [66][66]. - The equity in earnings of subsidiaries and VIEs for the year ended December 31, 2024, was RMB 1,095,954, a decrease from RMB 1,720,422 in 2023, reflecting a decline of approximately 36.2% [66][66]. - The company reported net cash provided by operating activities of RMB 1,425,488 for the year ended December 31, 2024, compared to RMB 389,588 in 2023, indicating a significant increase [67][67]. - The total loan facilitation volume facilitated through the platform was RMB55.5 billion in 2022, RMB88.1 billion in 2023, and is projected to reach RMB100.8 billion (US$13.8 billion) in 2024 [114]. Regulatory Environment - The PRC companies can only pay dividends out of retained earnings, which are determined according to PRC accounting standards [56]. - The company does not anticipate needing approvals from the CAC or other PRC government authorities for future offerings of securities to foreign investors [68]. - The CSRC has implemented new regulations requiring domestic enterprises to complete filing procedures for future offerings within three business days after closing [69]. - There is uncertainty regarding the approval process from the CSRC and CAC, which may significantly impact the ability to offer securities and could adversely affect financial conditions [71]. - The likelihood of being subject to cybersecurity review by the CAC is considered low, as the company and its consolidated VIE are not recognized as critical information infrastructure operators [72]. - Regulatory changes could impose additional compliance requirements, potentially hindering the ability to offer securities and affecting financial results [76]. - The company operates through a VIE structure, which may face scrutiny under PRC laws, impacting the enforceability of contractual arrangements and financial performance [77]. - The company is subject to PRC regulations that limit interest rates; loans exceeding 36% per annum are invalid, and those between 24% and 36% are valid but not enforceable in court [126]. - The company must comply with stringent data protection regulations, which could incur additional costs and impact operations if not adhered to [174][175]. Operational Risks - The company faces risks related to compliance with PRC regulations, which could result in severe penalties or affect the enforceability of its contractual arrangements [90]. - The company must maintain and increase the number of borrowers and loan volume to ensure business sustainability [90]. - The company is subject to credit cycles and risks associated with the deterioration of borrowers' credit profiles [90]. - The company may face challenges in securing funding from institutional partners on acceptable terms, impacting its financial condition [90]. - Negative publicity regarding the online consumer finance industry could adversely affect the company's business and results [90]. - The company relies on proprietary credit assessment models, and any flaws in these models could materially impact its reputation and market share [91]. - The company has obligations to verify borrower information and detect fraud; failure to meet these obligations could lead to liabilities and reputational harm [91]. - The company faces competition from various online consumer finance platforms and traditional financial institutions, which may have more resources and better adaptability to market changes [152]. - The company may struggle to protect its intellectual property rights, which are critical to its competitive position [199]. Financial Position - As of December 31, 2024, total assets amounted to RMB 5,409,893, a significant increase from RMB 5,644,766 as of December 31, 2023 [63][65]. - Total liabilities as of December 31, 2024, were RMB 2,282,279, up from RMB 3,264,305 as of December 31, 2023, showing a reduction in liabilities [63][65]. - Cash and cash equivalents decreased to RMB 540,523 as of December 31, 2024, from RMB 370,193 as of December 31, 2023, indicating a decline of approximately 45.9% [63][65]. - The company’s total operating costs and expenses for the year ended December 31, 2024, were RMB 4,553,017, compared to RMB 4,134,403 in 2023, representing an increase of about 10.1% [66][66]. - The total net assets as of December 31, 2024, were RMB 3,127,614, a slight decrease from RMB 2,380,461 as of December 31, 2023 [63][65]. Strategic Initiatives - The company is exploring opportunities in international markets, including increased investments in Indonesia since establishing an office there in 2019 [111]. - The company has adjusted its cooperation model with institutional funding partners to comply with Circular 141, which imposes restrictions on third-party fees and outsourcing core businesses [101][102]. - The company has entered into collaboration agreements with two licensed credit reporting institutions to ensure compliance with credit reporting regulations [106]. - The company has incurred significant expenses related to brand promotion and borrower acquisition efforts, which may not yield immediate revenue increases [158]. - The company purchased commercial property in Shanghai, approximately 43,500 square meters, for a total cash consideration of approximately RMB1.35 billion (US$184.9 million) to serve as its new headquarters [192]. Technology and Cybersecurity - The company continuously updates its fraud detection technology, but significant increases in fraudulent activities could lead to regulatory intervention and litigation [148]. - The company's risk management system may not be adequate, potentially damaging its reputation and business operations [149]. - The company’s operations depend on the performance of internet infrastructure and telecommunications networks in China, which are under state control [195]. - The company is subject to stringent reporting obligations under the Cyber Security Law of the PRC, which may adversely impact its business and results of operations [179]. - The reliance on complex software systems poses risks of undetected errors that could harm user experience and data protection [198]. Market Conditions - Broader macroeconomic factors, including interest rates and unemployment, can deter borrowers and affect loan facilitation volumes [134]. - Economic conditions in China are sensitive to both domestic policies and global economic factors, which may affect the company's operations [135]. - The company cannot guarantee that demand for consumer loans will remain stable, and any reduction in demand or increase in default rates could negatively impact growth and revenue [136]. - Rising costs of telecommunications and Internet services could adversely affect the company's results of operations [197].

Financial Data and Key Metrics Changes - In Q4 2024, the company facilitated loan transactions totaling RMB27.7 billion, a 37.8% year-over-year increase, with loan facilitation service revenue reaching RMB1.124 billion, up 46.3% year-over-year [8][9][28] - The company's net revenue was RMB1,404.5 million, representing a decrease of 12.2% from the same period of 2023, primarily due to a significant decrease in revenue from guaranteed services [28][29] - The net income for Q4 was RMB275.5 million, a decrease of 25.1% compared to the previous year, attributed to a higher base from a one-off non-operational income in Q4 2023 [31][32] Business Line Data and Key Metrics Changes - Revenue from loan facilitation services increased to RMB1,124 million, reflecting a 46.3% year-over-year growth, while the share of facilitation service revenue rose from 48% in Q4 2023 to 80% in Q4 2024 [38][40] - The company added 2.774 million new borrowers in 2024, representing a year-over-year growth of 45.1% [10][68] Market Data and Key Metrics Changes - In the Indonesian market, loan volume increased by 74% year-over-year, with registered users growing by 131% [18] - The company maintained strong growth momentum in the Mexican market, optimizing risk indicators and improving profitability [19] Company Strategy and Development Direction - The company is focused on high-quality growth driven by technology, with a strategy to expand incrementally while managing risks [7][8] - Plans for 2025 include a loan facilitation volume target range of RMB137 billion to RMB142 billion, reflecting a year-over-year growth of about 36% to 41% [25][45] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's business expansion and profitability in 2025, supported by macroeconomic policies aimed at boosting consumer credit [24][25] - The company plans to enhance shareholder returns by increasing the cash dividend from no less than 15% to approximately 30% of the previous fiscal year's net profit after tax [23][77] Other Important Information - The company has established partnerships with 73 financial institutions and is exploring innovative business models in areas such as auto-backed loans [12] - The delinquency rate for loans overdue from 61 to 90 days dropped to 0.53%, indicating improved risk management [14] Q&A Session Summary Question: Significant slowdown in revenue growth in 2024 - Management clarified that the slowdown is a result of strategic focus on high-quality growth in facilitation services, with facilitation service revenue growing 46.3% year-over-year despite overall revenue decline [38][40][42] Question: Plans and investments in technology and talent cultivation - The company is increasing investments in AI and big data, enhancing automation capabilities, and integrating AI solutions in risk management to maintain a competitive edge [54][59] Question: Decline in net income and cost control - The decline in net income was attributed to one-time non-operating income in 2023, increased borrower acquisition costs, and higher R&D expenses. Management expects improvements in profitability through effective control of revenue share from guarantee services and AI applications [65][68][70] Question: Plans to optimize borrower experience and attract new groups - The company aims to enhance borrower retention through improved customer service, seamless marketing and risk control processes, and innovative business models to integrate the industry ecosystem [82][90]

Financial Data and Key Metrics Changes - In Q4 2024, the company facilitated loan transactions totaling RMB27.7 billion, a 37.8% year-over-year increase, with loan facilitation service revenue reaching RMB1.124 billion, up 46.3% year-over-year [8][9] - The company's net revenue was RMB1,404.5 million, representing a decrease of 12.2% from the same period of 2023 [28] - The net income for Q4 was RMB275.5 million, a decrease of 25.1% compared to the previous year, primarily due to a higher base from a one-off non-operational income in Q4 2023 [31][32] Business Line Data and Key Metrics Changes - Revenue from loan facilitation services increased to RMB1,124 million, reflecting a 46.3% year-over-year growth, while revenue from guarantee services significantly decreased [29][38] - The share of facilitation service revenue increased from 48% in Q4 2023 to 80% in Q4 2024, indicating a strategic shift towards higher-margin services [38] Market Data and Key Metrics Changes - The company added 2.774 million new borrowers in 2024, representing a year-over-year growth of 45.1% [10] - The delinquency rate for loans overdue from 61 to 90 days dropped to 0.53%, showing significant improvement compared to the same period last year [14] Company Strategy and Development Direction - The company is focused on high-quality growth driven by technology and risk management, with plans to expand its borrower acquisition channels and enhance its service offerings [7][12] - The strategic focus for 2025 includes a loan facilitation volume target range of RMB137 billion to RMB142 billion, reflecting a year-over-year growth of about 36% to 41% [25][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macroeconomic environment supporting consumer credit growth, with expectations for stronger policy measures to boost the industry [24] - The company plans to enhance shareholder returns by increasing the cash dividend from no less than 15% to approximately 30% of the previous fiscal year's net profit after tax starting in 2025 [23][77] Other Important Information - The company maintained cooperative relationships with 73 financial institutions and is exploring innovative business models in areas such as auto-backed loans [12] - The company has invested in AI and technology to improve operational efficiency and risk management, including the deployment of an AI-powered risk control platform [15][56] Q&A Session Summary Question: Significant slowdown in revenue growth in 2024 - Management clarified that the slowdown is a result of strategic focus on high-quality growth in facilitation services, with facilitation service revenue growing 46.3% year-over-year despite overall revenue decline [38][40] Question: Plans and investments in technology and talent cultivation - The company is increasing investments in AI and big data, enhancing automation capabilities, and integrating AI solutions in risk management to maintain a competitive edge [54][59] Question: Decline in net income and cost control issues - The decline in net income was attributed to one-time non-operating income in 2023, increased borrower acquisition costs, and higher R&D expenses, with plans for improvement through strategic investments [65][68] Question: Plans to optimize borrower experience and attract new groups - The company aims to enhance borrower retention through improved service offerings, seamless marketing and risk control processes, and innovative business models to attract high-quality borrowers [82][90]

Core Viewpoint - Jiayin Group Inc. reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024, highlighting a complex market environment but maintaining sustainable business performance through innovation and strategic risk management [1][4]. Fourth Quarter 2024 Operational and Financial Highlights - Loan facilitation volume reached RMB27.7 billion (US$3.8 billion), a 37.8% increase year-over-year [8]. - Average borrowing amount per transaction decreased to RMB7,807 (US$1,070), down 21.5% from the same period in 2023 [8]. - The repeat borrowing rate was 69.9%, a decline from 72.9% in the same period of 2023 [8]. - Net revenue was RMB1,404.5 million (US$192.4 million), representing a decrease of 12.2% from the same period in 2023 [10]. - Income from operations was RMB392.6 million (US$53.8 million), compared to RMB232.0 million in the same period of 2023 [15]. - Net income was RMB275.5 million (US$37.7 million), down 25.1% from RMB367.6 million in the same period of 2023 [16]. Full Year 2024 Operational and Financial Highlights - Total loan facilitation volume for the year was RMB100.8 billion (US$13.8 billion), an increase of 14.4% from RMB88.1 billion in 2023 [8]. - Net revenue for the year was RMB5,801.0 million (US$794.7 million), up 6.1% from RMB5,466.9 million in 2023 [18]. - Revenue from loan facilitation services increased by 15.0% to RMB4,011.8 million (US$549.6 million) [19]. - Net income for the year was RMB1,056.5 million (US$144.7 million), a decrease of 18.6% from RMB1,297.6 million in 2023 [24]. Strategic Initiatives and Future Outlook - The company plans to accelerate global expansion, diversify funding sources, and enhance AI adoption [6]. - A cash dividend of US$0.5 per American depositary share was distributed in 2024, totaling approximately US$26.6 million, representing 15.0% of net income after tax for fiscal year 2023 [5]. - The company expects loan facilitation volume for 2025 to be between RMB137.0 billion and RMB142.0 billion, with a first-quarter estimate of around RMB35 billion [28]. Recent Developments - The board approved an adjustment to the dividend policy, increasing the annual dividend to around 30% of net income after tax starting from 2025 [31]. - The company completed the purchase of commercial property in Shanghai for approximately RMB1.35 billion, which will serve as its new headquarters [35]. Financial Position - As of December 31, 2024, cash and cash equivalents were RMB540.5 million (US$74.0 million), down from RMB741.2 million as of September 30, 2024 [17]. - Total assets were RMB5,409.9 million (US$741.2 million) as of December 31, 2024 [46].

Core Viewpoint - Jiayin Group Inc. is set to release its unaudited financial results for the fourth quarter and full year 2024 on March 27, 2025, before the U.S. market opens [1] Group 1: Financial Results Announcement - The financial results will be discussed in a conference call scheduled for March 27, 2025, at 8:00 AM U.S. Eastern Time [1][2] - A live and archived webcast of the conference call will be available on the company's investor relations website [3] Group 2: Company Overview - Jiayin Group Inc. is a leading fintech platform in China, established in 2011, focusing on connecting underserved individual borrowers with financial institutions [4] - The company utilizes a comprehensive risk management system and a proprietary risk assessment model that employs advanced big data analytics and algorithms to evaluate borrower risk profiles [4]