X Financial Reports Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results

Core Viewpoint - X Financial reported strong operational and financial results for the fourth quarter and fiscal year 2024, with significant growth in loan facilitation and net income, driven by improved asset quality and favorable macroeconomic conditions in China [16][30]. Financial Highlights - Total net revenue for Q4 2024 was RMB1,708.7 million (US$234.1 million), a 43.3$52.8 million), up 104.1% from RMB189.0 million in the same period of 2023 [10][30]. - For the fiscal year 2024, total net revenue was RMB5,871.8 million (US$804.4 million), representing a 22.0$211.0 million), a 29.8% increase from RMB1,186.8 million in 2023 [44]. Operational Highlights - The total loan amount facilitated and originated in Q4 2024 was RMB32,297 million, a 23.6% increase year-over-year [2][3]. - The number of active borrowers in Q4 2024 was 2,120,068, a 32.2% increase from 1,603,760 in Q4 2023 [3][16]. - The total outstanding loan balance as of December 31, 2024, was RMB52,327 million, compared to RMB48,847 million as of December 31, 2023 [4]. Delinquency Rates - The delinquency rate for loans past due for 31-60 days was 1.17% as of December 31, 2024, down from 1.57% a year earlier [14]. - The delinquency rate for loans past due for 91-180 days was 2.48% as of December 31, 2024, compared to 3.12% as of December 31, 2023 [14]. Shareholder Returns - The company allocated US$76 million to share repurchases and dividends in 2024, reflecting its commitment to delivering value to shareholders [16][47]. - A semi-annual dividend of US$0.25 per ADS was declared, payable on or about July 2, 2025 [48]. Business Outlook - For Q1 2025, the company expects total loan volumes to be between RMB33.5 billion and RMB34.5 billion, with a full-year forecast of RMB134.4 billion to RMB138.4 billion [49].