X Financial(US:XYF)2020-04-28 18:58Company Overview - X Financial is a leading technology-driven personal finance company in China, focusing on prime borrowers[7] - As of December 31, 2019, the loan balance was RMB 17,267 million[7] - The company had 5,631,081 cumulative borrowers and 499,855 cumulative investors[7] - The company had 38,826,182 registered users[7] Financial Performance - Total loan facilitation amount in the fourth quarter of 2019 was RMB 8,890 million[7] - Total net revenue for FY2019 was RMB 3,088 million, compared to RMB 3,541 million in FY2018[36] - Non-GAAP adjusted net income for FY2019 was RMB 931 million, compared to RMB 1,055 million in FY2018[36] - Total assets as of December 31, 2019, were RMB 8,299.587 million, compared to RMB 4,636.970 million as of December 31, 2018[51] - Total X Financial shareholders' equity as of December 31, 2019, was RMB 4,365.859 million, compared to RMB 3,517.023 million as of December 31, 2018[51] Funding and Costs - Low funding costs create a solid competitive advantage, with a funding cost of 7.64% for the three months ended December 31, 2019[21, 22] - The company is diversifying funding sources and increasing funding from institutions[13] Products - The company offers a comprehensive suite of products, including Xiaoying Credit Loan and Yaoqianhua[10] - Yaoqianhua is one of the most welcomed credit consumption products in China[17]