BEIJING, Aug. 20, 2024 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced its unaudited financial results for the quarter ended June 30, 2024. Second Quarter 2024 Operational HighlightsFinancial Services Business Total loans facilitated in the second quarter of 2024 reached RMB12.9 billion (US$1.8 billion), representing an increase of 8.6% from RMB11.9 billion ...

BEIJING, Aug. 14, 2024 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital"), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, announced that it plans to release its unaudited financial results for the second quarter ended June 30, 2024 before U.S. market opens on Tuesday, on August 20, 2024.Yiren Digital's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on August 20, 2024 (or 8:00 p.m. Beijing/Hong Kong Time on A ...

Core Insights - Yiren Digital Ltd. has released its first ESG report, emphasizing its commitment to environmental sustainability and social responsibility through its mission of "Better Lives Through Digital Innovation" [1] Technological Innovation Enhances Customer Experiences - The company has implemented a business strategy of "AI + Diversified Scenarios" and launched the "AI Lab" program, resulting in over 2.1 million intelligent customer services in 2023, leading to high customer satisfaction rates: 94% for financial services, 96% for insurance brokerage, and 95% for consumption and lifestyle services [2] User Information Security and Privacy Protection - Yiren Digital has enhanced its security capabilities, obtaining ISO 27001 certification and National Level 3 Classified Protection Certification in 2023. The company developed the Hawkeye antifraud model, identifying over 20,000 potentially dubious clients through a combination of AI and manual assistance [3] Empowering Customers through Inclusive Financial Solutions and Societal Contributions - The company facilitated RMB 3.6 billion in loans in 2023 through its Yixianghua platform, providing financial solutions to over 460,000 micro and small business owners, ensuring equal access to financial services [4] - Yiren Digital provided accident insurance protection to 100,000 flexible workers in Wuhan through its "New Resident Care" project, extending services to traditionally underserved workers [5] Leading Green and Low-Carbon Development - The company promotes green finance, restricting loans to high-energy consumption and high-pollution industries. In 2023, it facilitated RMB 12.55 million in credit to 483 business owners in the environmental protection monitoring industry while rejecting applications from 327 businesses with environmental violations [6] - By the end of 2023, over 90% of electrical equipment in Yiren Digital's Beijing offices had energy-saving labels, and the company aims for an average Power Usage Effectiveness (PUE) of 1.3 by 2024 [7]

BEIJING, June 28, 2024 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced the release of its annual ESG report for the year ended December 31, 2023. The report highlights Yiren Digital's mission of "Better Lives Through Digital Innovation," demonstrating the Company's unwavering dedication to environmental sustainability and social responsibility.To view Yiren ...

Yiren Digital Investor Presentation June,2024 Disclaimer This presentation has been prepared by Yiren Digital solely for information purposes. This presentation does not constitute an offer to sell or issue or an invitation or recommendation to purchaseor subscribe for any securities of the Company for sale in the United States or anywhere else. ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 reached RMB1.4 billion, representing a 40% year-over-year increase [19] - Total loan volume reached RMB11.9 billion, marking an 86% increase year-over-year [6] - Net profit for the quarter was RMB486 million, a 14% increase from the prior year [24] - Net cash from operations increased by 62% year-over-year [24] Business Line Data and Key Metrics Changes - Financial services segment revenue increased by 53% year-over-year to RMB738.1 million [19] - Insurance brokerage segment gross written premiums reached RMB912 million, a slight 1% decrease year-over-year [19] - Consumption and lifestyle services segment GMV reached RMB625 million, a remarkable 103% year-over-year increase [15] Market Data and Key Metrics Changes - The Philippine market achieved a milestone by surpassing RMB10 million in monthly loan volume [9] - International business loan volume increased by 60% compared to the previous quarter [8] Company Strategy and Development Direction - The company has rebranded its Chinese name to emphasize its focus on AI technology [5] - AI integration is a core strategy, with plans to enhance existing operations and explore new business opportunities [16][18] - The company aims to build advanced AI capabilities and explore strategic investments and partnerships [17][43] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of regulatory changes on the life insurance sector but remains optimistic about future growth in property insurance [12][14] - The company expects to maintain a revenue range of RMB1.4 billion to RMB1.6 billion for Q2 2024 [25] - Management is evaluating the possibility of instituting a dividend to return cash to shareholders [32] Other Important Information - The delinquency rate of the loan portfolio increased to 3.9% due to industry-wide credit quality fluctuations [10] - The company is focusing on improving asset quality through AI analysis and risk control [10][11] Q&A Session Summary Question: Comments on the quarter and dividend suggestion - Management acknowledged improvements in public relations and is evaluating the suggestion for a dividend [31][32] Question: International business expansion - Management confirmed solid progress in international markets, with expectations for overseas loan volume to increase significantly [38][39] Question: AI strategy and acquisitions - Management is focusing on utilizing AI in existing operations and exploring strategic investments and acquisitions in AI [41][43] Question: Cash flow and prepaid expenses - Management explained the increase in net cash from operations and the rise in prepaid expenses due to business development needs [46][65][68]

Core Viewpoint Yiren Digital Ltd. reported strong financial results for the first quarter of 2024, showcasing significant growth in revenue and operational metrics despite seasonal challenges. The company continues to enhance its AI capabilities and expand its service offerings in financial and lifestyle sectors. Financial Services Business - Total loans facilitated in Q1 2024 reached RMB 11.9 billion (US$ 1.6 billion), up 2.3% from RMB 11.6 billion in Q4 2023 and significantly higher than RMB 6.4 billion in Q1 2023 [2] - Cumulative number of borrowers served reached 9,978,280, a 7.3% increase from 9,295,666 as of December 31, 2023, and up from 7,582,435 as of March 31, 2023 [2] - Outstanding balance of performing loans was RMB 20.2 billion (US$ 2.8 billion), reflecting a 10.4% increase from RMB 18.3 billion as of December 31, 2023, and up from RMB 11.1 billion as of March 31, 2023 [2] Insurance Brokerage Business - Cumulative number of insurance clients served reached 1,343,660, a 4.7% increase from 1,283,102 as of December 31, 2023, and up from 1,007,238 as of March 31, 2023 [3] - Gross written premiums in Q1 2024 were RMB 912.4 million (US$ 126.4 million), down 24.5% from RMB 1,208.7 million in Q4 2023, primarily due to a decline in life insurance volume from regulatory changes [3] Consumption and Lifestyle Business - Total gross merchandise volume through the e-commerce platform reached RMB 625.1 million (US$ 86.6 million) in Q1 2024, a decrease of 9.8% from RMB 692.7 million in Q4 2023, attributed to seasonal factors [4] Financial Performance - Total net revenue for Q1 2024 was RMB 1,378.1 million (US$ 190.9 million), a 39.7% increase from RMB 986.3 million in Q1 2023 [7] - Revenue from financial services was RMB 738.1 million (US$ 102.2 million), up 52.5% from RMB 483.9 million in the same period of 2023 [7] - Net income for Q1 2024 was RMB 485.9 million (US$ 67.3 million), compared to RMB 427.2 million in Q1 2023, driven by growth in financial services and lifestyle segments [10] Operational Efficiency - The company generated approximately RMB 632 million in net cash from operations during Q1 2024, reflecting a 62% increase from the previous year [5] - Cash and equivalents stood at RMB 5.9 billion (US$ 817.7 million) as of March 31, 2024, with a total of USD 9.5 million allocated for share repurchase by the same date [6] Business Outlook - The company projects total revenue for Q2 2024 to be between RMB 1.4 billion to RMB 1.6 billion, maintaining a healthy net profit margin [13] Recent Developments - A new ESG (Environmental, Social, and Governance) committee was established to enhance governance and sustainability efforts [17][18] - The board of directors saw a change with the appointment of Mrs. Shuo Zheng, who brings extensive experience in financial control and regulatory compliance [14][15]

Company Overview - Yiren Digital Ltd. is an AI-powered platform that offers a comprehensive suite of financial and lifestyle services in China [2] - The company's mission is to enhance customers' financial well-being and quality of life through digital financial services, tailor-made insurance solutions, and premium lifestyle services [2] - Yiren Digital supports clients at various growth stages, addressing financing needs from consumption and production activities, while aiming to improve the overall well-being and security of individuals, families, and businesses [2] Financial Results Announcement - Yiren Digital plans to release its unaudited financial results for the first quarter ended March 31, 2024, before U.S. market opens on June 21, 2024 [1] - An earnings conference call will be hosted by the management at 7:30 a.m. U.S. Eastern Time on June 21, 2024 [1] - Participants interested in joining the call must register online in advance to receive dial-in details [1]

Company Overview - Yiren Digital (NYSE: YRD) is an AI-powered platform that provides a comprehensive suite of financial and lifestyle services in China, aiming to enhance customers' financial well-being and quality of life [3][7] - The company recently completed a branding upgrade, changing its Chinese name to "Yiren Zhike" ("宜人 智科"), which reflects its commitment to digital intelligent technologies and AI [6] AI and Investment Insights - Mr. Huang Jingsheng emphasized the importance of identifying companies with stable cash flow that can pivot to AI innovations and redefine market categories during his discussion at the GenAI Summit [1][2] - Key considerations for spotting potential unicorns in the AI sector include technological strength, extensive vertical data for training generative AI, logical deployment of AI capabilities, and the development of internally trained platforms [3][4] Technological Capabilities - Yiren Digital's proprietary intelligence platform, DiTing, has made over one billion decisions as of March 31, 2024, showcasing its robust capabilities in advanced AI and machine learning for financial decision-making [5] - The company's AI-driven Intelligent Customer Service received the "Outstanding Solution" Award at a recent competition, highlighting its innovative approach [5] Growth Potential - Mr. Huang drew parallels between Yiren Digital's growth trajectory and that of AWS, suggesting that Yiren Digital's AI systems and models are poised for significant market evolution and revaluation [4] - The company aims to transform its AI capabilities into innovative solutions applicable across various industries, indicating a strategic focus on broadening its market impact [6]

Core Insights - Yiren Digital Ltd. has won the "Outstanding Solution" Award for its AI-driven Intelligent Customer Service at a prestigious competition focused on financial integration technology [1][2] - The competition featured 124 national finalists and was judged by a panel of industry experts, highlighting the high standards of technical proficiency and innovation [2] - Yiren Digital's Intelligent Customer Service utilizes advanced technologies such as large language models, automatic speech recognition, and deep learning to provide personalized service experiences [3] Company Overview - Yiren Digital is an AI-powered platform that offers a comprehensive suite of financial and lifestyle services in China, aiming to enhance customers' financial well-being and quality of life [5] - The company is focused on advancing AI technology in financial services and has developed a proprietary "Model Factory" to improve the efficiency of its AI Smart Customer Service [4] - Yiren Digital aims to lead the practical application of AI in key sectors like Fintech, fostering competitive advantages and driving industry growth [4]