FinVolution Group 6-K, filed May 26, 2026

FinVolution Group (FINV)

6-K 2026-05-26 For: 2026-05-26

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Added on May 26, 2026

About this 6-K

FinVolution Group filed this 6-K on May 26, 2026.

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	FinVolution Group

	By:	/s/ Jiayuan Xu
	Name:	Jiayuan Xu
	Title:	Chief Financial Officer

	For the Three Months Ended/As of				YoY
	March 31, 2025		March 31, 2026		Change
Total Transaction Volume (RMB in billions)¹		52.1		42.6		-18.2	%
- Chinese Mainland²		49.1		38.5		-21.6	%
- Overseas Markets³		3.0		4.1		36.7	%

Total Outstanding Loan Balance (RMB in billions)		74.1		67.7		-8.6	%
- Chinese Mainland⁴		72.2		65.1		-9.8	%
- Overseas Markets⁵		1.9		2.6		36.8	%

●	Cumulative registered users reached 190.0 million as of March 31, 2026, an increase of 7.2% compared with March 31, 2025.
●	Cumulative borrowers reached 29.6 million as of March 31, 2026, an increase of 8.4% compared with March 31, 2025.
●	Number of unique borrowers⁶ for the first quarter of 2026 was 1.7 million, a decrease of 22.7% compared with the same period of 2025.
●	Transaction volume² was RMB38.5 billion for the first quarter of 2026, a decrease of 21.6% compared with the same period of 2025.
●	Transaction volume facilitated for repeat individual borrowers⁷ for the first quarter of 2026 was RMB31.4 billion, a decrease of 26.3% compared with the same period of 2025.
●	Outstanding loan balance⁴ was RMB65.1 billion as of March 31, 2026, a decrease of 9.8% compared with March 31, 2025.
●	Average loan size was RMB12,098 for the first quarter of 2026, compared with RMB10,494 for the same period of 2025.
●	Average loan tenure was 8.5 months for the first quarter of 2026, compared with 8.2 months for the same period of 2025.
●	90 day+ delinquency ratio⁸ was 3.11% as of March 31, 2026.
●	Net revenue⁹ was RMB2,216.1 million (US$321.3 million) for the first quarter of 2026, compared with RMB2,770.2 million for the same period of 2025.
●	U.S. GAAP operating profit¹⁰ was RMB598.7 million (US$86.8 million) for the first quarter of 2026, compared with RMB913.1 million for the same period of 2025.
●	Non-GAAP adjusted EBITDA¹¹, which excludes depreciation and amortization and share-based compensation expenses from operating profit, was RMB614.9 million (US$89.1 million) for the first quarter of 2026, compared with RMB930.1 million for the same period of 2025.

●	Cumulative registered users reached 56.5 million as of March 31, 2026, an increase of 45.2% compared with March 31, 2025.
●	Cumulative borrowers reached 13.4 million as of March 31, 2026, an increase of 76.3% compared with March 31, 2025.
●	Number of unique borrowers¹² for the first quarter of 2026 was 4.5 million, an increase of 155.4% compared with the same period of 2025.
●	Number of new borrowers¹³ for the first quarter of 2026 was 1.7 million, an increase of 160.0% compared with the same period of 2025.
●	Transaction volume³ reached RMB4.1 billion for the first quarter of 2026, an increase of 36.7% compared with the same period of 2025.
●	Outstanding loan balance⁵ reached RMB2.6 billion as of March 31, 2026, an increase of 36.8% compared with March 31, 2025.
●	Net revenue¹⁴was RMB948.9 million (US$137.6 million) for the first quarter of 2026, an increase of 34.5% compared with the same period of 2025, representing 29.6% of total revenue for the first quarter of 2026.
●	U.S. GAAP operating profit¹⁰ was RMB45.8 million (US$6.6 million) for the first quarter of 2026, compared with RMB24.4 million for the same period of 2025.
●	Non-GAAP adjusted EBITDA¹¹, which excludes depreciation and amortization and share-based compensation expenses from operating profit, was RMB47.5 million (US$6.9 million) for the first quarter of 2026, compared with RMB25.5 million for the same period of 2025.

●	Net revenue was RMB3,210.1 million (US$465.4 million) for the first quarter of 2026, compared with RMB3,481.0 million for the same period of 2025.
●	Net profit was RMB421.1 million (US$61.0 million) for the first quarter of 2026, compared with RMB737.6 million for the same period of 2025.
●	U.S. GAAP operating profit was RMB546.8 million (US$79.3 million) for the first quarter of 2026, compared with RMB883.2 million for the same period of 2025.
●	Non-GAAP adjusted operating profit¹⁵, which excludes share-based compensation expenses before tax, was RMB585.0 million (US$84.8 million) for the first quarter of 2026, compared with RMB917.9 million for the same period of 2025.
●	Diluted net profit per American depositary share (“ADS”) was RMB1.65 (US$0.24) and diluted net profit per share was RMB0.33 (US$0.05) for the first quarter of 2026, compared with RMB2.84 and RMB0.57 for the same period of 2025, respectively.
●	Non-GAAP diluted net profit per ADS was RMB1.80 (US$0.26) and non-GAAP diluted net profit per share was RMB0.36 (US$0.05) for the first quarter of 2026, compared with RMB2.97 and RMB0.59 for the same period of 2025, respectively. Each ADS of the Company represents five Class A ordinary shares of the Company.

	As of December 31,			As of March 31,
	2025			2026
	RMB			RMB			USD
Assets
Cash and cash equivalents		4,285,121			4,687,773			679,584
Restricted cash		1,912,850			1,862,880			270,061
Short-term investments		3,015,226			2,643,817			383,273
Investments		1,141,816			1,142,087			165,568
Quality assurance receivable, net of credit loss allowance for quality assurance receivable of RMB581,475 and RMB616,214 as of December 31, 2025 and March 31, 2026, respectively		1,315,184			1,376,678			199,576
Intangible assets		270,246			270,246			39,177
Property, equipment and software, net		641,316			625,456			90,672
Loans receivable, net of credit loss allowance for loans receivable of RMB544,905 and RMB572,937 as of December 31, 2025 and March 31, 2026, respectively		6,471,619			6,963,186			1,009,450
Accounts receivable and contract assets, net of credit loss allowance for accounts receivable and contract assets of RMB340,816 and RMB349,157 as of December 31, 2025 and March 31, 2026, respectively		2,028,585			1,599,215			231,838
Deferred tax assets		2,992,071			3,219,281			466,698
Right of use assets		52,020			50,340			7,298
Prepaid expenses and other assets		1,207,791			1,168,487			169,395
Goodwill		79,759			79,759			11,563
Total assets		25,413,604			25,689,205			3,724,153
Deferred guarantee income		1,119,004			1,130,264			163,854
Liability from quality assurance commitment		2,574,842			2,374,176			344,183
Payroll and welfare payable		361,188			186,742			27,072
Taxes payable		177,064			428,808			62,164
Short-term borrowings		170,408			192,101			27,849
Funds payable to investors of consolidated trusts		778,531			974,768			141,312
Contract liability		226			-			-
Deferred tax liabilities		786,556			787,615			114,180
Accrued expenses and other liabilities		1,448,231			1,380,470			200,126
Leasing liabilities		44,711			44,760			6,489
Dividends payable		-			506,708			73,457
Convertible senior notes		1,019,266			1,005,162			145,718
Long-term borrowings		89,590			132,118			19,153
Total liabilities		8,569,617			9,143,692			1,325,557
Commitments and contingencies
FinVolution Group Shareholders’ equity
Ordinary shares		103			103			15
Additional paid-in capital		5,908,586			5,942,443			861,473
Treasury stock		(2,465,259	)		(2,736,995	)		(396,781	)
Statutory reserves		1,042,312			1,042,312			151,104
Accumulated other comprehensive income		13,027			38,083			5,521
Retained Earnings		12,051,332			11,959,686			1,733,790
Total FinVolution Group shareholders’ equity		16,550,101			16,245,632			2,355,122
Non-controlling interest		293,886			299,881			43,474
Total shareholders’ equity		16,843,987			16,545,513			2,398,596
Total liabilities and shareholders’ equity		25,413,604			25,689,205			3,724,153

	For the Three Months Ended March 31,
	2025			2026
	RMB			RMB			USD

Operating revenue:
Loan facilitation service fees		1,477,798			1,181,314			171,255
Post-facilitation service fees		380,614			348,343			50,499
Guarantee income		1,099,514			886,069			128,453
Net interest income		241,614			484,681			70,264
Other revenue		281,501			309,655			44,890
Net revenue		3,481,041			3,210,062			465,361
Operating expenses:
Origination, servicing expenses and other costs of revenue		(620,465	)		(745,172	)		(108,027	)
Sales and marketing expenses		(529,703	)		(492,447	)		(71,390	)
Research and development expenses		(126,041	)		(125,459	)		(18,188	)
General and administrative expenses		(106,894	)		(113,843	)		(16,504	)
Provision for accounts receivable and contract assets		(117,718	)		(111,514	)		(16,166	)
Provision for loans receivable		(85,414	)		(218,148	)		(31,625	)
Credit losses for quality assurance commitment		(1,011,615	)		(856,637	)		(124,186	)
Total operating expenses		(2,597,850	)		(2,663,220	)		(386,086	)
Operating profit		883,191			546,842			79,275
Interest expenses		(652	)		(17,147	)		(2,486	)
Other income/(expenses), net		9,033			(15,521	)		(2,250	)
Profit before income tax expense		891,572			514,174			74,539
Income tax expenses		(153,931	)		(93,117	)		(13,499	)
Net profit		737,641			421,057			61,040
Less: Net (loss)/profit attributable to non-controlling interest shareholders		(8,765	)		5,995			869
Net profit attributable to FinVolution Group		746,406			415,062			60,171
Foreign currency translation adjustment, net of nil tax		(16,273	)		25,056			3,632
Total comprehensive income attributable to FinVolution Group		730,133			440,118			63,803
Weighted average number of ordinary shares used in computing net profit per share
Basic		1,265,759,932			1,194,294,986			1,194,294,986
Diluted		1,315,948,116			1,283,838,301			1,283,838,301
Net profit per share attributable to FinVolution Group’s ordinary shareholders
Basic		0.59			0.35			0.05
Diluted		0.57			0.33			0.05
Net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equals five ordinary shares)
Basic		2.95			1.74			0.25
Diluted		2.84			1.65			0.24

	Three Months Ended March 31,
	2025			2026
	RMB			RMB			USD
Net cash provided by operating activities		522,335			225,990			32,760
Net cash provided by investing activities		365,196			146,022			21,168
Net cash (used in)/provided by financing activities		(198,331	)		9,418			1,366
Effect of exchange rate changes on cash and cash equivalents		(11,265	)		(28,748	)		(4,166	)
Net increase in cash, cash equivalents and restricted cash		677,935			352,682			51,128
Cash, cash equivalents and restricted cash at beginning of period		6,747,072			6,197,971			898,517
Cash, cash equivalents and restricted cash at end of period		7,425,007			6,550,653			949,645

For the Three Months Ended March 31, 2026
	Chinese Mainland			Overseas Markets⁽¹⁾			Others⁽²⁾			Elimination			Total
	RMB			RMB			RMB			RMB			RMB
Net Revenue		2,216,096			948,946			50,148			(5,128	)		3,210,062
Less⁽³⁾: Operating Expenses ⁽⁴⁾		(1,617,349	)		(903,196	)		(88,761	)		5,128			(2,604,178	)
Operating Segment Profit/(Loss)		598,747			45,750			(38,613	)		-			605,884
Less: Unallocated expenses⁽⁵⁾														(59,042	)
Operating profit														546,842

For the Three Months Ended March 31, 2025
	Chinese Mainland			Overseas Markets⁽¹⁾			Others⁽²⁾			Elimination			Total
	RMB			RMB			RMB			RMB			RMB
Net Revenue		2,770,160			705,343			8,250			(2,712	)		3,481,041
Less⁽³⁾: Operating Expenses ⁽⁴⁾		(1,857,018	)		(680,964	)		(27,901	)		2,712			(2,563,171	)
Operating Segment Profit/(Loss)		913,142			24,379			(19,651	)		-			917,870
Less: Unallocated expenses⁽⁵⁾														(34,679	)
Operating profit														883,191

For the Three Months Ended March 31, 2026
	Chinese Mainland		Overseas Markets		Others			Unallocated expenses			Total
	RMB		RMB		RMB			RMB			RMB
Operating profit		598,747		45,750		(38,613	)		(59,042	)		546,842
Add: Depreciation and amortization		16,180		1,785		116			-			18,081
Add: Share-based compensation expenses		-		-		-			38,173			38,173
Non-GAAP Adjusted EBITDA		614,927		47,535		(38,497	)		(20,869	)		603,096