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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 JFIN The Nasdaq Stock Market LLC FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPOR ...

Financial Data and Key Metrics Changes - In Q4 2023, the company's loan facilitation volume was RMB 20.1 billion, an increase of 6.3% year-over-year [9] - The total loan facilitation volume for the full year reached RMB 88.1 billion, an increase of 58.7% compared to 2022, achieving a new historical high [9] - Q4 2023 net revenue was RMB 1.6 billion, an increase of 51.8% year-over-year, while annual net revenue reached RMB 5.47 billion, an increase of 67.1% year-over-year [9] - The company's net income for Q4 2023 was RMB 367.6 million, a decrease of 31.1% from RMB 533.7 million in the same period of 2022 [23] Business Line Data and Key Metrics Changes - Facilitation and servicing expenses were RMB 857.2 million, representing an increase of 329.1% from the same period of 2022, primarily due to increased loan facilitation volume [22] - Sales and marketing expenses decreased by 11.9% to RMB 329.5 million compared to the same period of 2022 [23] - R&D expenses increased by 44.3% to RMB 92.9 million, primarily due to higher employee compensation [23] Market Data and Key Metrics Changes - The balance of various types of RMB loans from financial institutions amounted to RMB 237.59 trillion at the end of 2023, an increase of 10.6% year-over-year [11] - The demand for consumer credit services in the Chinese market remained robust, supported by various government policies aimed at stimulating consumption [10] Company Strategy and Development Direction - The company is focusing on technological innovation and risk management as core competencies, aiming to enhance market share and operational precision [8] - A strategic shift towards technology was marked by the company's name change to Jiayin Technology, emphasizing the application of AI in business operations [12] - The company aims to maintain a focus on technological innovation and expand its business scale while managing risks effectively [18] Management's Comments on Operating Environment and Future Outlook - The management highlighted the challenges posed by the macroeconomic environment, including slow economic recovery and geopolitical conflicts [7] - The company is optimistic about future growth, setting a target for total loan facilitation to range from RMB 93 billion to RMB 98 billion for 2024 [18] Other Important Information - The company has distributed two cash dividends totaling US $0.80 per ADS, accounting for 25% of the company's net income after tax for the fiscal year of 2022 [19] - As of now, the company has repurchased its ADS for approximately US $10.6 million, with plans to increase the repurchase limit to US $30 million [20] Q&A Session Summary Question: Measures to keep delinquency rates low - Management acknowledged the increase in delinquency rates and emphasized the implementation of enhanced risk management strategies and borrower experience optimization [25][26] Question: Future dividend policy and payout ratio - Management confirmed the commitment to rewarding shareholders through dividends and share repurchase plans, with a focus on maintaining a sustainable payout ratio [27][28] Question: Adjustments in customer acquisition channels and risk control - Management outlined plans to enhance borrower acquisition strategies, focusing on high-quality assets and improving risk management through data analysis [31][32] Question: Factors behind the decrease in net income and accounts receivable increase - Management explained that the decrease in net income was influenced by a high net margin in Q4 2022 due to a one-time tax benefit, and they will continue to focus on facilitating and risk control services [34][36]

SHANGHAI, China, March 21, 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 fourth quarter and full year 2023 before the U.S. market opens on Thursday, March 28, 2024. The Company will conduct a conference call to discuss its financial results on Thursday, March 28, 2024 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day). What:Jiayi ...

为进一步提升公司员工和合作伙伴的合规经营理念和防诈反诈意识，近日嘉银科技(JFIN.US)联合上海市公安局浦东分局塘桥派出所开展“嘉银法治宣传日”合规培训及反诈讲座。本次活动采用线上线下相结合的形式，总部、异地职场相关业务部门及合作方上百名员工参与了此次讲座。 本次活动邀请了两位一线警官分别开展合规普法和反诈知识讲座。活动伊始，主讲警官普及了《中华人民共和国刑法》和《中华人民共和国治安管理处罚法》中的法律常识，重点讲解了公司运营、业务合作中可能涉及的相关法条，同时提醒大家在业务开展过程中要注重信息安全保护。主讲警官在讲座中融入了生动的案例讲解，让法律条款变得通俗易懂，增加了员工们的法律知识储备。最后，主讲警官还提醒大家，做到知法、懂法、守法、用法，学会通过合法途径保护自己和他人的安全。 另一方面，主讲警官也从大量实际案例出发，介绍了“什么是电信网络诈骗”、“常见电信网络诈骗案件的种类及特点”和“如何防范电信网络诈骗”等方面内容，重点介绍了投资理财类，网络交友类，冒充公检法类，冒充熟人、领导身份类诈骗等几种常见电信诈骗和案例，提醒大家诈骗集团作案手法不断翻新，需不断提升反诈意识和识诈能力，保护好个人信息安全，做 ...