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].

Core Viewpoint - Jiayin Group Inc. has announced a cash dividend of US$0.125 per ordinary share, totaling approximately US$26.6 million to be distributed to shareholders [1][2]. Group 1: Dividend Announcement - The board of directors approved a cash dividend of US$0.125 per ordinary share or US$0.50 per American depositary share (ADS) [1] - Shareholders recorded at the close of trading on August 27, 2024, will be entitled to the dividends, with payments expected around September 3, 2024, for ordinary shares and September 6, 2024, for ADS holders [1] 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 [3] - The company operates a secure platform with a comprehensive risk management system and a proprietary risk assessment model utilizing advanced big data analytics [3]

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 ...

Core Insights - Jiayin Group Inc. published its 2023 Environmental, Social, and Governance (ESG) Report, marking the third such report, emphasizing its commitment to corporate sustainability and ethical practices [1] - The company focused on societal value creation, digital transformation, service quality enhancement, responsible supply chain development, and green technology adoption in 2023 [1] ESG Reporting - The report adheres to the Global Reporting Initiative's Sustainability Reporting Standards and references Nasdaq's ESG Reporting Guide 2.0 [2] Company Overview - Jiayin Group Inc. is a leading fintech platform in China, established in 2011, that connects underserved individual borrowers with financial institutions [3] - The company utilizes a secure platform with a comprehensive risk management system and advanced big data analytics for risk assessment [3]

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 ...

Financial Data and Key Metrics Changes - The loan facilitation volume for Q1 2024 reached RMB22.5 billion, a year-over-year increase of 13.6% [9][18] - Net revenue was RMB1.475 billion, reflecting a year-over-year increase of 31.5% [9][18] - Net income for Q1 2024 was RMB273.1 million, a decrease of 2.4% from RMB279.7 million in Q1 2023 [20] - Cash and cash equivalents increased to RMB568.2 million from RMB370.2 million at the end of Q4 2023 [20] Business Line Data and Key Metrics Changes - Facilitation and service expenses rose to RMB667 million, an increase of 143.3% year-over-year, primarily due to higher guarantee costs and increased loan facilitation volume [19] - Sales and marketing expenses decreased by 5.5% to RMB359.8 million, while R&D expenses increased by 28.5% to RMB83.3 million [19] Market Data and Key Metrics Changes - The Indonesian market saw a 37% quarter-on-quarter increase in newly registered users through local partnerships [13] - The Nigerian market showed steady progress with increased borrowing volume and new borrowers [14] Company Strategy and Development Direction - The company aims to strengthen development through technology and new momentum, focusing on AI and big data to enhance competitiveness [7][9] - Plans to explore cooperation with foreign banks and expand overseas business, particularly in Indonesia, Nigeria, and Mexico [11][14] - The company emphasizes consumer rights protection and anti-fraud efforts, having blocked 65,000 malicious attacks in Q1 2024 [15] Management's Comments on Operating Environment and Future Outlook - Management noted a gradual recovery in the Chinese economy but highlighted challenges in demand and consumer loan willingness [7] - The company maintains a cautiously optimistic outlook for growth while prioritizing risk management [25] - Guidance for loan facilitation volume in Q2 2024 is set at RMB23 billion [17] Other Important Information - The company plans to distribute a cash dividend of US$0.5 per ADS and has extended its share repurchase plan to June 12, 2025 [16][29] Q&A Session Summary Question: Reasons for slowdown in loan facilitation volume growth and future borrower acquisition focus - Management attributed the slowdown to cautious operations and systematic risk assessments, while focusing on high-quality borrower segments for future growth [22][25] Question: Explanation for revenue decrease compared to Q4 2023 and cash position increase - Management explained that the revenue structure changed with a higher proportion from loan origination services, leading to improved operating profit margins despite a decrease in overall revenue [27][28] Question: Reasons for slight decline in net income despite increased facilitation volume and revenue - Management indicated that changes in revenue structure and a decrease in the take rate contributed to the decline in net income, while operational efficiency improved overall expenses [32] Question: Views on Indonesian regulatory requirements for interest rate reduction - Management sees the interest rate reduction as a recognition of the industry's potential and believes their experience in risk management will allow them to adapt effectively to new requirements [35][36]

-- 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 ...

SHANGHAI, China, April 29, 2024 (GLOBE NEWSWIRE) -- Jiayin Group Inc. ("Jiayin" or the "Company") (NASDAQ:JFIN), a leading fintech platform in China, today announced that it has filed its annual report on Form 20-F (the "Annual Report") for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the "SEC") on April 29, 2024, U.S. Eastern Time. The Annual Report can be accessed on the Company's investor relations website at https://ir.jiayintech.cn/ and on the SEC's website ...