Jiayin Group(US:JFIN)2025-11-25 13:00Financial Data and Key Metrics Changes - In Q3 2025, the company facilitated RMB 32.2 billion in loan volume, a year-on-year increase of approximately 20.6% [4][13] - Non-GAAP income from operations was RMB 490 million, up around 50.3% year-on-year [4][15] - Net income for the third quarter was RMB 376.5 million, representing an increase of 39.7% from the same period in 2024 [16] - Basic and diluted net income per share was RMB 1.83, compared to RMB 1.27 in Q3 2024 [16] Business Line Data and Key Metrics Changes - The company maintained cooperation with 75 financial institutions, with another 64 under negotiation, enhancing funding supply stability [5] - The 90-plus-day delinquency rate stood at 1.33% at the end of Q3 [6] - The share of facilitation volume from repeat borrowers rose to 78.6%, driving the average borrowing amount per transaction up to RMB 9,115, a year-on-year increase of approximately 19.5% [6][7] Market Data and Key Metrics Changes - China's GDP grew by 4.8% year-on-year in Q3 2025, contributing to a stable environment for consumer finance [4] - Demand for consumer finance has been rising steadily, with a narrow consumer credit balance up 4.2% year-on-year as of September 30 [4] Company Strategy and Development Direction - The company is focusing on high-quality borrower segments and optimizing resource allocation efficiency [6] - A cautious strategy for new customer acquisition has been adopted, emphasizing high-quality borrowers [6] - The company aims to navigate cyclical headwinds with lean operational capabilities for sustainable growth [12] Management's Comments on Operating Environment and Future Outlook - The implementation of new regulations in October has created significant downward pressure on pricing and emphasized consumer protection [18] - The company expects Q4 loan facilitation volume to reach RMB 23-25 billion, with full-year volume projected at RMB 127.8-129.8 billion, representing a year-on-year increase of approximately 26.8%-28.8% [12][21] - Long-term, the enforcement of new regulations is expected to raise industry entry barriers and promote healthier sector development [20] Other Important Information - The company has made significant investments in AI development, achieving innovations that enhance fraud detection and operational efficiency [8][9] - The Indonesian business saw nearly 200% year-on-year growth, with a 150% increase in the number of borrowers [11] Q&A Session Summary Question: Impact of new regulation on business and strategic adjustments - Management noted significant impacts from the new regulation, including pricing pressure and a focus on consumer protection, leading to adjustments in customer acquisition strategies and borrower segmentation [18][19] Question: Revenue take rate and margin expectations - The company facilitated RMB 32.2 billion in volume in Q3 2025, with a net margin of 25.6%, slightly down from 27.5% in Q2 [20]