X Financial (NYSE: XYF)

X Financial (NYSE: XYF) (the “Company” or “we”), a leading technology-driven personal finance company in China, reported its unaudited fiscal results for the 3rd-quarter finished September 30, 2k19.

3rd-Quarter 2k19 Fiscal Highlights

Net revenues in the 3rd-quarter of 2k19 inclined by 4.50 percent to RMB866.80M (US$121.30M) from RMB829.50M in the similar duration of 2k18.

Income from operation in the 3rd-quarter of 2k19 declined by 14.50 percent to RMB234.70M (US$32.80M) from RMB274.50M in the similar duration of 2k18.

Net income attributable to X Financial shareholders in the 3rd-quarter of 2k19 declined by 33.50 percent to RMB131.60M (US$18.40M) from RMB197.90M in the similar duration of 2k18.

Non-GAAP[1] net income attributable to X Financial shareholders in the 3rd-quarter of 2k19 declined by 31.60 percent to RMB170.00M (US$23.80M) from RMB248.50M in the similar duration of 2k18.

Net income for each basic and diluted American depositary share (“ADS”)[2] in the 3rd-quarter of 2k19 were RMB0.840 (US$0.120) and RMB0.820 (US$0.110) respectively, compared with RMB1.400 and RMB1.300, respectively, in the similar duration of 2k18.

Non-GAAP net income for each basic and diluted ADS in the 3rd-quarter of 2k19 were RMB1.080 (US$0.150) and RMB1.060 (US$0.150), respectively, compared with RMB1.760 and RMB1.640, respectively, in the similar duration of 2k18.

 

3rd-Quarter 2k19 Operational Highlights

Total loan facilitation amount[3] in the 3rd-quarter of 2k19 was RMB10,750.00M, representing an incline of 42.20 percent from RMB7,560.00M in the similar duration of 2k18 and an incline of 5.70 percent from RMB10,172.00M in the 2nd-quarter of 2k19.

The loan facilitation of Xiaoying Credit Loan[4] in the 3rd-quarter of 2k19 was RMB8,086.00M, representing an incline of 17.60 percent from RMB6,879.00M in the similar duration of 2k18 and an incline of 6.10 percent from RMB7,619.00M in the 2nd-quarter of 2k19. Xiaoying Credit Loan accounted for 75.20 percent of the Company’s total loan facilitation amount, compared with 91.00 percent in the similar duration of 2k18.

Total outstanding loan balance[5] as of September 30, 2k19 was RMB19,606.00M, compared with RMB20,789.00M as of September 30, 2k18 and RMB19,821.00M as of June 30, 2k19.

Total number of loans facilitated[6] of Xiaoying Term Loan[7] in the 3rd-quarter of 2k19 was 727,360, representing a decline of 6.30 percent from 775,957 in the similar duration of 2k18 and an incline of 1.70 percent from 715,209 for the 2nd-quarter of 2k19.

Average loan amount for each transaction[8] of Xiaoying Term Loan in the 3rd-quarter of 2k19 was RMB12,848.00, representing an incline of 32.40 percent from RMB9,706.00 in the similar duration of 2k18 and a decline of 0.10 percent from RMB12,865.00 for the 2nd-quarter of 2k19.

Average consumption amount for each user[9] of Xiaoying Revolving Loan[10] in the 3rd-quarter of 2k19 was RMB5,668, representing an incline of 19.30 percent from RMB4,752 for the 2nd-quarter of 2k19.

The delinquency rates for all outstanding loans that are past due for 31-90 days and 91–180 days as of September 30, 2k19 were 2.950 percent and 4.50 percent, respectively, compared with 3.10 percent and 4.990 percent, respectively, as of June 30, 2k19, and 3.510 percent and 3.360 percent, respectively, as of September 30, 2k18.

Number of active borrowers in the 3rd-quarter of 2k19 was 840,137, representing an incline of 30.90 percent from 641,743 in the similar duration of 2k18 and an incline of 5.70 percent from 795,032 in the 2nd-quarter of 2k19.

The amount of cumulative borrowers each of whom made at least one transaction on the Company’s lending platform as of September 30, 2k19 was 5,433,901.

Total cumulative registered users reached 34,968,473 as of September 30, 2k19.

Number of active individual investors[11] in the 3rd-quarter of 2k19 was 63,320, representing a decline of 48.00 percent from 121,757 in the similar duration of 2k18 and a decline of 20.10 percent from 79,218 in the 2nd-quarter of 2k19.

The cumulative number of active individual investors as of September 30, 2k19 was 498,214, compared with 424,616 as of September 30, 2k18, and 489,880 as of June 30, 2k19.

The Gross Merchandise Value (“GMV”)[12] of Xiaoying Online Mall[13] amounted to RMB77.40M, representing an incline of 557.20 percent from RMB11.80M in the 2nd-quarter of 2k19.

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