Core Viewpoint - Jiayin Group Inc. reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, highlighting a strategic shift towards prioritizing asset quality amidst a tightening regulatory environment, resulting in decreased loan facilitation volume and net income for the fourth quarter, while achieving overall growth in loan facilitation volume for the full year 2025 [1][11][12]. Fourth Quarter 2025 Operational and Financial Highlights - Loan facilitation volume was RMB24.2 billion (US$3.5 billion), a decrease of 12.6% from the same period in 2024 [7]. - Average borrowing amount per borrowing increased to RMB9,846 (US$1,408), up 26.1% from the same period in 2024 [7]. - Repeat borrowing contribution rose to 79.4% compared to 72.7% in the same period of 2024 [7]. - The 90 day+ delinquency ratio was 2.03% as of December 31, 2025 [7]. - Net revenue was RMB1,090.2 million (US$155.9 million), down 22.4% from the same period in 2024 [7][13]. - Income from operation decreased to RMB94.6 million (US$13.5 million) from RMB392.6 million in the same period of 2024 [7][19]. - Net income was RMB100.6 million (US$14.4 million), compared to RMB275.5 million in the same period of 2024 [7][19]. Full Year 2025 Operational and Financial Highlights - Total loan facilitation volume reached RMB129.0 billion (US$18.4 billion), an increase of 28.0% from 2024 [8]. - Average borrowing amount per borrowing was RMB8,601 (US$1,230), slightly up from RMB8,536 in 2024 [8]. - Repeat borrowing contribution was 76.0%, compared to 74.2% in 2024 [8]. - Net revenue increased to RMB6,222.2 million (US$889.8 million), up 7.3% from 2024 [21]. - Income from operation was RMB1,797.3 million (US$257.0 million), compared to RMB1,248.0 million in 2024 [25]. - Net income rose to RMB1,535.7 million (US$219.6 million), compared to RMB1,056.5 million in 2024 [26]. Regulatory Update - A new regulatory framework was implemented on October 1, 2025, mandating stricter compliance measures for the loan facilitation industry, including transparency in fees and borrower information [30]. - The regulations are expected to impact the Company's operating results, but management believes they will support a more sustainable long-term trajectory [31]. Business Outlook - The Company anticipates loan facilitation volume for the first quarter of 2026 to be between RMB18.5 billion and RMB19.5 billion, reflecting a strategic recalibration towards asset quality and operational resilience [29]. Share Repurchase Plan Update - The Board approved a share repurchase plan with an aggregate value of up to US$80 million, with approximately 4.6 million ADSs repurchased for about US$30.4 million as of March 31, 2026 [32]. Dividend Policy - The Board approved an adjustment to the dividend policy, allowing for an annual cash dividend of around 30% of the net income after tax from the previous fiscal year, starting from 2025 [34][35].

Core Viewpoint - Jiayin Group Inc. reported strong financial results for the first quarter of 2025, with significant growth in loan facilitation volume and net revenue, reflecting the company's effective strategies in a dynamic macroeconomic environment [1][6]. Financial Performance - Total loan facilitation volume increased by 58.2% year-over-year to RMB35.6 billion (approximately US$4.9 billion) [1][9]. - Net revenue grew by 20.4% to RMB1,775.6 million (approximately US$244.7 million) compared to the same period in 2024 [1][8]. - Net income reached RMB539.5 million (approximately US$74.3 million), marking a 97.5% increase from RMB273.1 million in the first quarter of 2024 [1][15]. Operational Highlights - The average borrowing amount per transaction decreased by 24.4% to RMB7,987 (approximately US$1,101) [9]. - The contribution of repeat borrowers to total loan facilitation volume was 71.9%, down from 78.3% in the same period of 2024 [9]. - The 90-day+ delinquency ratio stood at 1.13% as of March 31, 2025 [9]. Revenue Breakdown - Revenue from loan facilitation services was RMB1,478.6 million (approximately US$203.8 million), an increase of 77.9% year-over-year [10]. - Revenue from releasing guarantee liabilities decreased to RMB170.6 million (approximately US$23.5 million) from RMB524.5 million in the same period of 2024 [11]. - Other revenue increased slightly to RMB126.4 million (approximately US$17.4 million) compared to RMB119.8 million in the same period of 2024 [11]. Expense Analysis - Facilitation and servicing expenses decreased by 49.6% to RMB336.0 million (approximately US$46.3 million) [12]. - Sales and marketing expenses rose by 87.5% to RMB674.5 million (approximately US$92.9 million) due to increased borrower acquisition costs [13]. - General and administrative expenses increased by 14.2% to RMB52.8 million (approximately US$7.3 million) [13]. Business Outlook - The company expects its loan facilitation volume for the full year of 2025 to be between RMB137 billion and RMB142 billion, with a second-quarter forecast of RMB37 billion to RMB39 billion [18]. - Non-GAAP income from operations for the second quarter of 2025 is anticipated to be between RMB0.66 billion and RMB0.73 billion [18]. Recent Developments - The Board of Directors approved a cash dividend of US$0.20 per ordinary share for the fiscal year 2025 [19]. - A share repurchase plan was extended for another 12 months, allowing the company to repurchase its shares with an aggregate value not exceeding the remaining balance under the plan [20].