FinVolution(US:FINV) BOCOM International·2025-08-21 14:02Investment Rating - The investment rating for the company is "Buy" with a target price of $13.00, indicating a potential upside of 50.3% from the current price of $8.65 [1][12]. Core Insights - The company's net profit for Q2 2025 was 751 million RMB, exceeding Bloomberg's expectations by 4%, with a year-on-year growth of 36.3% and a quarter-on-quarter increase of 1.9% [2]. - Revenue for Q2 2025 grew by 12.9% year-on-year and 2.8% quarter-on-quarter, with a stable take rate of 3.4% in mainland China [2]. - The company maintains its guidance for a revenue growth of 10-15% year-on-year for 2025 [2]. - The international business segment continues to grow, with a year-on-year increase of 41.5% in revenue, contributing to 22.3% of total revenue [6]. Financial Performance - For the fiscal year ending December 31, 2025, the company is projected to achieve a revenue of 13,825 million RMB, reflecting a year-on-year growth of 5.8% [5][13]. - The net profit for the same period is expected to be 2,678 million RMB, with a year-on-year growth of 12.4% [5][13]. - The company's earnings per share (EPS) for 2025 is estimated at 11.00 RMB, representing a growth of 14.7% [5][13]. Business Growth - The facilitated loans in Q2 2025 increased by 10.9% year-on-year, with international market loans growing by 39.1% [6]. - The company issued convertible bonds in June to support international business expansion, with an expected profit contribution of no less than $15 million from international operations in 2025 [6]. - The asset quality remains stable, with a 90-day delinquency rate of 1.92%, showing a slight improvement from the previous quarter [6]. Market Position - The company's market capitalization is approximately $1.21 billion, with a year-to-date stock price change of 27.39% [4]. - The stock has a 52-week high of $10.72 and a low of $5.18, indicating significant volatility [4].