6-K
FinVolution Group (FINV)
UNITED STATES
SECURITIES AND EXCHANGECOMMISSION
WASHINGTON, D.C.20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2025
Commission File Number: 001-38269
FinVolution Group
Building G1, No. 999 Dangui Road
Pudong New District, Shanghai 201203
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ___X____ Form 40-F _________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| FinVolution Group | |
|---|---|
| By: | /s/ Jiayuan Xu |
| Name: | Jiayuan Xu |
| Title: | Chief Financial Officer |
Date: March 18, 2025
Exhibit Index
Exhibit 99.1
FinVolutionGroup Reports Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results
-Full Year 2024 Transaction Volume reached RMB206.2 billion, up 6.1% year-over-year-
-Full Year 2024 International Transaction Volume exceeded RMB10.1 billion, up 27.8% year-over-year-
-Full Year International Revenues reached RMB2.5 billion, up 18.5% year-over-year and representing 19.4% of total net revenues-
SHANGHAI, March 17, 2025 /PRNewswire/ – FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform in China, Indonesia and the Philippines, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.
| For the Three Months <br><br>Ended/As of | YoY<br> <br>Change | For the Full Year Ended / As of December 31, | YoY<br> <br>Change | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 31, 2023 | December 31, 2024 | 2023 | 2024 | |||||||||
| Total Transaction Volume (RMB in billions)^1^ | 52.4 | 56.9 | 8.6 | % | 194.3 | 206.2 | 6.1 | % | ||||
| Transaction Volume (China’s Mainland)^2^ | 50.1 | 54.0 | 7.8 | % | 186.4 | 196.1 | 5.2 | % | ||||
| Transaction Volume (International)^3^ | 2.3 | 2.9 | 26.1 | % | 7.9 | 10.1 | 27.8 | % | ||||
| Total Outstanding Loan Balance (RMB in billions) | 67.4 | 71.5 | 6.1 | % | 67.4 | 71.5 | 6.1 | % | ||||
| Outstanding Loan Balance (China’s Mainland)^4^ | 66.1 | 69.8 | 5.6 | % | 66.1 | 69.8 | 5.6 | % | ||||
| Outstanding Loan Balance (International)^5^ | 1.3 | 1.7 | 30.8 | % | 1.3 | 1.7 | 30.8 | % |
FourthQuarter 2024 China Market Operational Highlights
| ● | Cumulative<br> registered users^6^ reached 172.6 million as of December 31, 2024, an increase of<br> 10.9% compared with December 31, 2023. |
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| ● | Cumulative<br> borrowers^7^ reached 26.8 million as of December 31, 2024, an increase of 6.3% compared<br> with December 31, 2023. |
| ● | Number<br> of unique borrowers^8^ for the fourth quarter of 2024 was 2.1 million, an increase<br> of 0.3% compared with the same period of 2023. |
| ● | Transaction<br> volume^2^ reached RMB54.0 billion for the fourth quarter of 2024, an increase of<br> 7.8% compared with the same period of 2023. |
| ● | Transaction<br> volume facilitated for repeat individual borrowers^9^ for the fourth quarter of<br> 2024 was RMB46.7 billion, an increase of 9.1% compared with the same period of 2023. |
| ● | Outstanding<br> loan balance^4^ reached RMB69.8 billion as of December 31, 2024, an increase of<br> 5.6% compared with December 31, 2023. |
| ● | Average<br> loan size^10^was RMB11,466 for the fourth quarter of 2024, compared with RMB9,044<br> for the same period of 2023. |
| ● | Average<br> loan tenure^11^was 8.0 months for the fourth quarter of 2024, compared with 8.2<br> months for the same period of 2023. |
| ● | 90<br> day+ delinquency ratio^12^ was 2.13% as of December 31, 2024. |
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FourthQuarter 2024 International Market Operational Highlights
| ● | Cumulative<br> registered users^13^ reached 35.7 million as of December 31, 2024, an increase of<br> 45.1% compared with December 31, 2023. |
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| ● | Cumulative<br> borrowers^14^ for the international market reached 7.0 million as of December 31,<br> 2024, an increase of 45.8% compared with December 31, 2023. |
| ● | Number<br> of unique borrowers^15^ for the fourth quarter of 2024 was 1.6 million, an increase<br> of 87.9% compared with the same period of 2023. |
| ● | Number<br> of new borrowers^16^ for the fourth quarter of 2024 was 0.7 million, an increase<br> of 118.4% compared with the same period of 2023. |
| ● | Transaction<br> volume^3^ reached RMB2.9 billion for the fourth quarter of 2024, an increase of<br> 26.1% compared with the same period of 2023. |
| ● | Outstanding<br> loan balance^5^ reached RMB1.7 billion as of December 31, 2024, an increase of 30.8%<br> compared with December 31, 2023. |
| ● | International<br> business revenue was RMB739.3 million (US$101.3 million) for the fourth quarter of 2024,<br> an increase of 22.8% compared with the same period of 2023, representing 21.4% of total revenue<br> for the fourth quarter of 2024. |
FourthQuarter 2024 Financial Highlights
| ● | Net<br> revenue was RMB3,456.7 million (US$473.6 million) for the fourth quarter of 2024, compared<br> with RMB3,223.6 million for the same period of 2023. |
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| ● | Net<br> profit was RMB680.8 million (US$93.3 million) for the fourth quarter of 2024, compared with<br> RMB528.8 million for the same period of 2023. |
| ● | Non-GAAP<br> adjusted operating income^17^, which excludes share-based compensation expenses<br> before tax, was RMB822.0 million (US$112.6 million) for the fourth quarter of 2024, compared<br> with RMB547.0 million for the same period of 2023. |
| ● | Diluted<br> net profit per American depositary share (“ADS”) was RMB2.61 (US$0.36) and diluted<br> net profit per share was RMB0.52 (US$0.07) for the fourth quarter of 2024, compared with<br> RMB1.92 and RMB0.38 for the same period of 2023, respectively. |
| ● | Non-GAAP<br> diluted net profit per ADS was RMB2.74 (US$0.38) and non-GAAP diluted net profit per share<br> was RMB0.55 (US$0.08) for the fourth quarter of 2024, compared with RMB2.04 and RMB0.41 for<br> the same period of 2023, respectively. Each ADS of the Company represents five Class A ordinary<br> shares of the Company. |
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^1^Represents the total transaction volume facilitated in China’s Mainland and the international markets on the Company’s platforms during the period presented.
^2^Represents our transaction volume facilitated in China’s Mainland during the period presented. During the fourth quarter, RMB19.9 billion were facilitated under the capital-light model, for which the Company does not bear principal risk.
^3^Represents our transaction volume facilitated in markets outside China’s Mainland during the period presented.
^4^Outstanding loan balance (China’s Mainland) as of any date refers to the balance of outstanding loans in China’s Mainland market excluding loans delinquent for more than 180 days from such date. As of December 31, 2024, RMB26.6 billion were facilitated under the capital-light model, for which the Company does not bear principal risk.
^5^Outstanding loan balance (international) as of any date refers to the balance of outstanding loans in the international markets excluding loans delinquent for more than 30 days from such date.
^6^On a cumulative basis, the total number of users in China’s Mainland market registered on the Company’s platform as of December 31, 2024.
^7^On a cumulative basis, the total number of borrowers in China’s Mainland market registered on the Company’s platform as of December 31, 2024.
^8^Represents the total number of borrowers in China’s Mainland who have successfully borrowed on the Company’s platform during the period presented.
^9^Represents the transaction volume facilitated for repeat borrowers in China’s Mainland who successfully completed a transaction on the Company’s platform during the period presented.
^10^Represents the average loan size on the Company’s platform in China’s Mainland during the period presented.
^11^Represents the average loan tenor on the Company’s platform in China’s Mainland during the period presented.
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^12^“90 day+ delinquency ratio” refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company’s platform as of a specific date. Loans that originated outside China’s Mainland are not included in the calculation.
^13^On a cumulative basis, the total number of users registered on the Company’s platforms outside China’s Mainland market, as of December 31, 2024.
^14^On a cumulative basis, the total number of borrowers on the Company’s platforms outside China’s Mainland market, as of December 31, 2024.
^15^Represents the total number of borrowers outside China’s Mainland who have successfully borrowed on the Company platforms during the period presented.
^16^Represents the total number of new borrowers outside China’s Mainland whose transactions were facilitated on the Company’s platforms during the period presented.
^17^Please refer to “UNAUDITED Reconciliation of GAAP And Non-GAAP Results” for reconciliation between GAAP and Non-GAAP adjusted operating income.
^18^Change in Presentation of Consolidated Statements of Cash Flows During the fourth quarter of 2024, the Company elected to change its presentation of the cash flows associated with funds held for customers from operating activities to present them as financing activities and funds paid on behalf of customers from operating activities to present them as investing activities within its Consolidated Statements of Cash Flows. Prior periods’ balances have been adjusted to conform to the current period presentation.
Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution, commented, “Through strong execution of our Local Excellence, Global Outlook strategy, we successfully navigated 2024’s challenges and continued to deliver progressive growth in the China market while driving rapid growth in the international markets. Cumulatively, we served 33.8 million borrowers with an increase of 3.9 million new borrowers across all our markets.”
“With solid progress across numerous operational metrics, our total transaction volume grew to RMB206.2 billion while total outstanding loan balance grew to RMB 71.5 billion for the full year, both metrics up by 6.1% year-over-year, respectively. These healthy results validate our deep commitment to our diversification into the international markets, underscoring, the effectiveness of our Local Excellence, Global Outlook strategy,” concluded Mr. Li.
Mr. Jiayuan Xu, Chief Financial Officer of FinVolution, continued, “For the first time, transaction volume in the international markets exceeded RMB10.1 billion for the full year while outstanding loan balance reached RMB1.7 billion, up 27.8% and 30.8% year-over-year respectively. Contributions from international revenue in the fourth quarter grew further to RMB739.3 million, up 22.8% year-over-year and accounting for 21.4% of total revenue. These positive developments reaffirm the value and effectiveness of our international diversification. Driven by strong and consistent business growth, our net revenues for the fourth quarter reached RMB3,456.7 million, up 7.2% year-over-year”.
“As part of our unwavering commitment to delivering value to shareholders through business growth and capital return, we deployed approximately US$160.4 million in 2024. This compromised, US$90.2 million for share repurchases and US$70.2 million for dividend distributions, representing a total payout ratio of approximately 49.1%. Since 2018, we have consistently returned value to our shareholders through our capital return program, including both share repurchases and dividend distributions, demonstrating our dedication to sustainable shareholder value creation,” concluded Mr. Xu.
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FourthQuarter 2024 Financial Results
Netrevenue for the fourth quarter of 2024 was RMB3,456.7 million (US$473.6 million), compared with RMB3,223.6 million for the same period of 2023. This increase was primarily due to the increase in loan facilitation service fees and other revenue.
Loanfacilitation service fees were RMB1,344.8 million (US$184.2 million) for the fourth quarter of 2024, compared with RMB1,107.4 million for the same period of 2023. The increase was primarily due to the increase in the transaction volume.
Post-facilitationservice fees were RMB460.5 million (US$63.1 million) for the fourth quarter of 2024, compared with RMB495.4 million for the same period of 2023. This decrease was primarily due to the rolling impact of deferred transaction fees in the China market.
Guaranteeincome was RMB1,205.5 million (US$165.2 million) for the fourth quarter of 2024, compared with RMB1,267.5 million for the same period of 2023. This decrease was primarily due to the increased proportion of capital light business in China’s market, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.
Netinterest income was RMB217.9 million (US$29.9 million) for the fourth quarter of 2024, compared with RMB227.4 million for the same period of 2023.This decrease was primarily due to the decrease in the average outstanding loan balances of on-balance sheet loans in the international markets, offset by the increase of outstanding loan balance in the China market.
Otherrevenue was RMB228.0 million (US$31.2 million) for the fourth quarter of 2024, compared with RMB125.8 million for the same period of 2023. This increase was primarily due to the increase in the contributions from other revenue streams.
Origination,servicing expenses and other costs of revenue were RMB664.0 million (US$91.0 million) for the fourth quarter of 2024, compared with RMB563.1 million for the same period of 2023. This increase was primarily due to the increase in facilitation costs and loan collection expenses as a result of higher outstanding loan balances.
Salesand marketing expenses were RMB531.5 million (US$72.8 million) for the fourth quarter of 2024, compared with RMB491.4 million for the same period of 2023, as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.
Researchand development expenses were RMB126.3 million (US$17.3 million) for the fourth quarter of 2024, compared with RMB127.6 million for the same period of 2023.
Generaland administrative expenses were RMB112.6 million (US$15.4 million) for the fourth quarter of 2024, compared with RMB115.2 million for the same period of 2023. This decrease was primarily due to the improvements in operating efficiency.
Provisionfor accounts receivable and contract assets was RMB95.1 million (US$13.0 million) for the fourth quarter of 2024, compared with RMB36.4 million for the same period of 2023. The increase was primarily due to higher transaction loan volume in the international markets.
Provisionfor loans receivable was RMB64.3 million (US$8.8 million) for the fourth quarter of 2024, compared with RMB107.6 million for the same period of 2023. This decrease was primarily due to the decrease in the loan volume and the outstanding loan balances of on-balance sheet loans in the international markets.
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Creditlosses for quality assurance commitment were RMB1,075.0 million (US$147.3 million) for the fourth quarter of 2024, compared with RMB1,269.5 million for the same period of 2023. The decrease was primarily due to the decrease in the proportion of risk bearing loans and the improvement in credit risk performance.
Operatingprofit was RMB787.9 million (US$107.9 million) for the fourth quarter of 2024, compared with RMB512.8 million for the same period of 2023.
Non-GAAPadjusted operating income, which excludes share-based compensation expenses before tax, was RMB822.0 million (US$112.6 million) for the fourth quarter of 2024, compared with RMB547.0 million for the same period of 2023.
Otherincome was RMB25.9 million (US$3.6 million) for the fourth quarter of 2024, compared with RMB67.6 million for the same period of 2023. The decrease was mainly due to the decrease in government subsidies.
Incometax expense was RMB133.1 million (US$18.2 million) for the fourth quarter of 2024, compared with RMB51.6 million for the same period of 2023. This increase was mainly due to the increase in pre-tax profit and the change in effective tax rate.
Netprofit was RMB680.8 million (US$93.3 million) for the fourth quarter of 2024, compared with RMB528.8 million for the same period of 2023.
Netprofit attributable to ordinary shareholders of the Company was RMB680.7 million (US$93.3 million) for the fourth quarter of 2024, compared with RMB524.6 million for the same period of 2023.
Dilutednet profit per ADS was RMB2.61 (US$0.36) and diluted net profit per share was RMB0.52 (US$0.07) for the fourth quarter of 2024, compared with RMB1.92 and RMB0.38 for the same period of 2023 respectively.
Non-GAAPdiluted net profit per ADS was RMB2.74 (US$0.38) and non-GAAP diluted net profit per share was RMB0.55 (US$0.08) for the fourth quarter of 2024, compared with RMB2.04 and RMB0.41 for the same period of 2023 respectively. Each ADS represents five Class A ordinary shares of the Company.
As of December 31, 2024, the Company had cash and cash equivalents of RMB4,672.8 million (US$640.2 million) and short-term investments, mainly in wealth management products and term deposits, of RMB2,832.4 million (US$388.0 million).
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The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company’s platform in China’s Mainland as of December 31, 2024. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.
FiscalYear 2024 Financial Results
Netrevenue for 2024 was RMB13,065.8 million (US$1,790.0 million), compared with RMB12,547.4 million in 2023.
Loanfacilitation service fees were RMB4,694.4 million (US$643.1 million) for 2024, compared with RMB4,520.5 million in 2023. The increase was primarily due to the increase in transaction volume.
Post-facilitationservice fees were RMB1,740.2 million (US$238.4 million) for 2024, compared with RMB1,969.7 million in 2023. This decrease was primarily due to the rolling impact of deferred transaction fees in the China market.
Guaranteeincome was RMB5,085.3 million (US$696.7 million) for 2024, compared with RMB4,479.0 million in 2023. This increase was primarily due to the increased outstanding loan balance of off-balance sheet loans in the international markets, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.
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Netinterest income was RMB853.8 million (US$117.0 million) for 2024, compared with RMB1,049.4 million in 2023.This decrease was primarily due to the decrease in the average outstanding loan balances of on-balance sheet loans in the international markets.
Otherrevenue was RMB692.1 million (US$94.8 million) for 2024, compared with RMB528.9 million in 2023. This increase was primarily due to the increase in the contributions from other revenue streams.
Origination,servicing expenses and other costs of revenue were RMB2,381.8 million (US$326.3 million) for 2024, compared with RMB2,111.5 million in 2023. This increase was primarily due to the increase in facilitation costs and loan collection expenses as a result of higher outstanding loan balances.
Salesand marketing expenses were RMB2,014.3 million (US$276.0 million) for 2024, compared with RMB1,887.4 million in 2023, as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.
Researchand development expenses were RMB496.7 million (US$68.1 million) for 2024, compared with RMB511.0 million in 2023. This decrease was primarily due to our improvements in technology development efficiency.
Generaland administrative expenses were RMB413.5 million (US$56.7 million) for 2024, compared with RMB390.0 million in 2023. This increase was primarily due to the increased benefits we provided to our employees.
Provisionfor accounts receivable and contract assets was RMB317.0 million (US$43.4 million) for 2024, compared with RMB253.9 million in 2023. This increase was primarily due to the decrease in provisions from other third-party platforms in 2023.
Provisionfor loans receivable was RMB320.0 million (US$43.8 million) for 2024, compared with RMB586.8 million in 2023. This decrease was primarily due to the decreases in the transaction volume and the outstanding loan balances of on-balance sheet loans in the international markets.
Creditlosses for quality assurance commitment were RMB4,587.3 million (US$628.5 million) for 2024, compared with RMB4,422.8 million in 2023. The increase was primarily due to the increased outstanding loan balances of off-balance sheet loans in the international markets and offset by the decrease in the proportion of risk bearing loans in China.
Operatingprofit was RMB2,535.1 million (US$347.3 million) for 2024, compared with RMB2,383.9 million in 2023.
Non-GAAPadjusted operating income, which excludes share-based compensation expenses before tax, was RMB2,679.2 million (US$367.0 million) for 2024, compared with RMB2,500.3 million in 2023.
Otherincome was RMB310.1 million (US$42.5 million) for 2024, compared with RMB394.7 million in 2023. The decrease was mainly due to the decrease in government subsidies.
Incometax expense was RMB457.4 million (US$62.7 million) for 2024, compared with RMB395.1 million in 2023. This increase was mainly due to the increase in pre-tax profit and the change in effective tax rate.
Netprofit was RMB2,387.8 million (US$327.1 million) for 2024, compared with RMB2,383.5 million in 2023.
Netprofit attributable to ordinary shareholders of the Company was RMB2,383.1 million (US$326.5 million) for 2024, compared with RMB2,340.8 million in 2023.
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SharesRepurchase Update
For the full year of 2024, the Company deployed a total of US$90.2 million to repurchase its own Class A ordinary shares in the form of ADSs in the market. As of December 31, 2024, in combination with the Company’s historical and existing share repurchase programs, the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$370.0 million since 2018.
BusinessOutlook
While the macroeconomic recovery continued to gain traction with pockets of improvement since the beginning of 2024, uncertainties persist in the markets in which we operate. The Company has observed encouraging signs of recovery and will continue to closely monitor macro conditions across our Pan-Asian markets and remain prudent in our business operations. The Company expects its full-year 2025 total revenue guidance to be in the range of approximately RMB14.4 billion to RMB15.0 billion, representing year-over-year growth of approximately 10.0% to 15.0%.
The above forecast is based on the current market conditions and reflects the Company’s current preliminary views and expectations on market and operational conditions and the regulatory and operating environment, as well as customers’ and institutional partners’ demands, all of which are subject to change.
BoardComposition Update
The board of directors of the Company has approved that Mr. Simon Tak Leung Ho, who has served as a director of the Company since November 2020, will transition to the role of an independent director. Mr. Ho currently serves as the chief financial officer for GoTo Group, Indonesia. Prior to joining GoTo Group, Mr. Ho served as chief financial officer for Maya Group, Philippines from April 2023 to July 2024, chief financial officer of Tianxia Technology from August 2021 to September 2022 and chief financial officer for FinVolution Group from September 2016 to November 2020. Mr. Ho also served in various positions at Citigroup Global Markets Asia Limited from 2008 to 2016 including managing director and head of Asian financials research. Mr. Ho received his bachelor’s degree in engineering from Northwestern University, Illinois. Mr. Ho is also a Chartered Financial Analyst.
ConferenceCall
The Company’s management will host an earnings conference call at 8:30 PM U.S. Eastern Time on March 17, 2025 (8:30 AM Beijing/Hong Kong Time on March 18, 2025).
Dial-in details for the earnings conference call are as follows:
| United<br> States (toll free): | +1-888-346-8982 |
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| Canada<br> (toll free): | +1-855-669-9657 |
| International: | +1-412-902-4272 |
| Hong<br> Kong, China (toll free): | 800-905-945 |
| Hong<br> Kong, China: | +852-3018-4992 |
| Mainland,<br> China: | 400-120-1203 |
Participants should dial in at least five minutes before the scheduled start time and ask to be connected to the call for “FinVolution Group.”
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Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.finvgroup.com.
A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until March 24, 2025, by dialing the following telephone numbers:
| United<br> States (toll free): | +1-877-344-7529 |
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| Canada<br> (toll free): | +1-855-669-9658 |
| International: | +1-412-317-0088 |
| Replay<br> Access Code: | 2187762 |
AboutFinVolution Group
FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2024, the Company had 208.3 million cumulative registered users across China, Indonesia and the Philippines.
For more information, please visit https://ir.finvgroup.com
Useof Non-GAAP Financial Measures
We use non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider it in isolation, or as a substitute for net income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.
For more information on this non-GAAP financial measure, please see the table captioned “Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.
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ExchangeRate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00, the rate in effect as of December 31, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.
SafeHarbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Forinvestor and media inquiries, please contact:
In China:
FinVolution Group
Head of Capital Markets
Jimmy Tan, IRC
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
| 10 |
| --- |
FinVolutionGroup
UNAUDITEDINTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Allamounts in thousands, except share data, or otherwise noted)
| As of December 31, | As of December 31, | |||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2024 | |||||||
| RMB | RMB | |||||||
| Assets | ||||||||
| Cash and cash equivalents | 4,969,319 | 4,672,772 | ||||||
| Restricted cash | 1,800,071 | 2,074,300 | ||||||
| Short-term investments | 2,960,821 | 2,832,382 | ||||||
| Investments | 1,135,133 | 1,173,003 | ||||||
| Quality assurance receivable, net of credit loss allowance for quality assurance receivable of RMB529,392 and RMB426,949 as of December 31, 2023 and December 31, 2024, respectively | 1,755,615 | 1,639,591 | ||||||
| Intangible assets | 98,692 | 137,298 | ||||||
| Property, equipment and software, net | 140,933 | 623,792 | ||||||
| Loans receivable, net of credit loss allowance for loans receivable of RMB214,550 and RMB226,467 as of December 31, 2023 and December 31, 2024, respectively | 1,127,388 | 4,157,621 | ||||||
| Accounts receivable and contract assets, net of credit loss allowance for accounts receivable and contract assets of RMB310,394 and RMB290,267 as of December 31, 2023 and December 31, 2024, respectively | 2,208,538 | 2,405,880 | ||||||
| Deferred tax assets | 1,624,325 | 2,513,865 | ||||||
| Right of use assets | 38,110 | 36,826 | ||||||
| Prepaid expenses and other assets | 3,384,317 | 1,289,380 | ||||||
| Goodwill | 50,411 | 50,411 | ||||||
| Total assets | 21,293,673 | 23,607,121 | ||||||
| Liabilities and Shareholders’ Equity | ||||||||
| Deferred guarantee income | 1,882,036 | 1,515,950 | ||||||
| Liability from quality assurance commitment | 3,306,132 | 2,964,116 | ||||||
| Payroll and welfare payable | 261,528 | 290,389 | ||||||
| Taxes payable | 207,477 | 705,928 | ||||||
| Short-term borrowings | 5,756 | 5,594 | ||||||
| Funds payable to investors of consolidated trusts | 436,352 | 796,122 | ||||||
| Contract liability | 5,109 | 10,185 | ||||||
| Deferred tax liabilities | 340,608 | 491,213 | ||||||
| Accrued expenses and other liabilities | 941,899 | 1,245,184 | ||||||
| Leasing liabilities | 35,878 | 28,765 | ||||||
| Total liabilities | 7,422,775 | 8,053,446 | ||||||
| Commitments and contingencies | ||||||||
| FinVolution Group Shareholders’ equity | ||||||||
| Ordinary shares | 103 | 103 | ||||||
| Additional paid-in capital | 5,748,734 | 5,815,437 | ||||||
| Treasury stock | (1,199,683 | ) | (1,765,542 | ) | ) | |||
| Statutory reserves | 762,472 | 852,723 | ||||||
| Accumulated other comprehensive income | 80,006 | 92,626 | ||||||
| Retained Earnings | 8,357,153 | 10,208,717 | ||||||
| Total FinVolution Group shareholders’ equity | 13,748,785 | 15,204,064 | ||||||
| Non-controlling interest | 122,113 | 349,611 | ||||||
| Total shareholders’ equity | 13,870,898 | 15,553,675 | ||||||
| Total liabilities and shareholders’ equity | 21,293,673 | 23,607,121 |
All values are in US Dollars.
| 11 |
| --- |
FinVolutionGroup
UNAUDITEDINTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Allamounts in thousands, except share data, or otherwise noted)
| For the Three Months Ended December 31, | For the Year Ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2024 | 2023 | 2024 | |||||||||||||
| RMB | RMB | RMB | RMB | |||||||||||||
| Operating revenue: | ||||||||||||||||
| Loan facilitation service fees | 1,107,434 | 1,344,799 | 4,520,504 | 4,694,380 | ||||||||||||
| Post-facilitation service fees | 495,431 | 460,465 | 1,969,705 | 1,740,241 | ||||||||||||
| Guarantee income | 1,267,515 | 1,205,502 | 4,478,995 | 5,085,296 | ||||||||||||
| Net interest income | 227,426 | 217,927 | 1,049,379 | 853,779 | ||||||||||||
| Other Revenue | 125,791 | 227,999 | 528,862 | 692,128 | ||||||||||||
| Net revenue | 3,223,597 | 3,456,692 | 12,547,445 | 13,065,824 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Origination, servicing expenses and other cost of revenue | (563,142 | ) | (663,982 | ) | ) | (2,111,515 | ) | (2,381,839 | ) | ) | ||||||
| Sales and marketing expenses | (491,381 | ) | (531,530 | ) | ) | (1,887,442 | ) | (2,014,254 | ) | ) | ||||||
| Research and development expenses | (127,605 | ) | (126,257 | ) | ) | (510,986 | ) | (496,740 | ) | ) | ||||||
| General and administrative expenses | (115,209 | ) | (112,570 | ) | ) | (390,022 | ) | (413,548 | ) | ) | ||||||
| Provision for accounts receivable and contract assets | (36,413 | ) | (95,132 | ) | ) | (253,948 | ) | (317,049 | ) | ) | ||||||
| Provision for loans receivable | (107,562 | ) | (64,346 | ) | ) | (586,843 | ) | (320,013 | ) | ) | ||||||
| Credit losses for quality assurance commitment | (1,269,514 | ) | (1,074,955 | ) | ) | (4,422,802 | ) | (4,587,254 | ) | ) | ||||||
| Total operating expenses | (2,710,826 | ) | (2,668,772 | ) | ) | (10,163,558 | ) | (10,530,697 | ) | ) | ||||||
| Operating profit | 512,771 | 787,920 | 2,383,887 | 2,535,127 | ||||||||||||
| Other income, net | 67,633 | 25,945 | 394,698 | 310,123 | ||||||||||||
| Profit before income tax expense | 580,404 | 813,865 | 2,778,585 | 2,845,250 | ||||||||||||
| Income tax expenses | (51,572 | ) | (133,110 | ) | ) | (395,100 | ) | (457,405 | ) | ) | ||||||
| Net profit | 528,832 | 680,755 | 2,383,485 | 2,387,845 | ||||||||||||
| Less: Net profit/(loss) attributable to non-controlling interest shareholders | 4,273 | 50 | 42,650 | 4,699 | ||||||||||||
| Net profit attributable to FinVolution Group | 524,559 | 680,705 | 2,340,835 | 2,383,146 | ||||||||||||
| Foreign currency translation adjustment, net of nil tax | 8,855 | 249,597 | 27,769 | 234,012 | ||||||||||||
| Totalcomprehensive income attributable to FinVolution Group | 533,414 | 930,302 | 2,368,604 | 2,617,158 | ||||||||||||
| Weightedaverage number of ordinary shares used in computing net income per share | ||||||||||||||||
| Basic | 1,342,940,746 | 1,266,235,809 | 1,374,713,018 | 1,287,853,207 | ||||||||||||
| Diluted | 1,367,430,282 | 1,303,393,465 | 1,402,947,561 | 1,320,229,492 | ||||||||||||
| Netprofit per share attributable to FinVolution Group’s ordinary shareholders | ||||||||||||||||
| Basic | 0.39 | 0.54 | 1.70 | 1.85 | ||||||||||||
| Diluted | 0.38 | 0.52 | 1.67 | 1.81 | ||||||||||||
| Netprofit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equal five ordinary shares) | ||||||||||||||||
| Basic | 1.95 | 2.69 | 8.51 | 9.25 | ||||||||||||
| Diluted | 1.92 | 2.61 | 8.34 | 9.03 |
All values are in US Dollars.
| 12 |
| --- |
FinVolutionGroup
UNAUDITEDINTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS^18^
(Allamounts in thousands, except share data, or otherwise noted)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2024 | 2023 | 2024 | |||||||||||||
| RMB | RMB | RMB | RMB | |||||||||||||
| Net cash provided by operating activities | 45,284 | 299,509 | 1,360,872 | 2,893,160 | ||||||||||||
| Net cash provided by/(used in) investing activities | (104,246 | ) | (745,555 | ) | ) | 1,411,992 | (2,295,816 | ) | ) | |||||||
| Net cash provided by/(used in) financing activities | (1,030,417 | ) | 255,302 | (2,505,002 | ) | (622,715 | ) | ) | ||||||||
| Effect of exchange rate changes on cash and cash equivalents | (4,975 | ) | 5,406 | 22,441 | 3,053 | |||||||||||
| Net increase/ (decrease) in cash, cash equivalent and restricted cash | (1,094,354 | ) | (185,338 | ) | ) | 290,303 | (22,318 | ) | ) | |||||||
| Cash, cash equivalent and restricted cash at beginning of period | 7,863,744 | 6,932,410 | 6,479,087 | 6,769,390 | ||||||||||||
| Cash, cash equivalent and restricted cash at end of period | 6,769,390 | 6,747,072 | 6,769,390 | 6,747,072 |
All values are in US Dollars.
| 13 |
| --- |
FinVolutionGroup
UNAUDITEDReconciliation of GAAP and Non-GAAP Results
(Allamounts in thousands, except share data, or otherwise noted)
| For the Three Months Ended December 31, | For the Year Ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2024 | 2023 | 2024 | |||||||||||||
| RMB | RMB | RMB | RMB | |||||||||||||
| Net Revenues | 3,223,597 | 3,456,692 | 12,547,445 | 13,065,824 | ||||||||||||
| Less: total operating expenses | (2,710,826 | ) | (2,668,772 | ) | ) | (10,163,558 | ) | (10,530,697 | ) | ) | ||||||
| Operating Income | 512,771 | 787,920 | 2,383,887 | 2,535,127 | ||||||||||||
| Add: share-based compensation expenses | 34,215 | 34,064 | 116,407 | 144,052 | ||||||||||||
| Non-GAAP adjusted operating income | 546,986 | 821,984 | 2,500,294 | 2,679,179 | ||||||||||||
| Operating Margin | 15.9 | % | 22.8 | % | % | 19.0 | % | 19.4 | % | % | ||||||
| Non-GAAP operating margin | 17.0 | % | 23.8 | % | % | 19.9 | % | 20.5 | % | % | ||||||
| Non-GAAP adjusted operating income | 546,986 | 821,984 | 2,500,294 | 2,679,179 | ||||||||||||
| Add: other income, net | 67,633 | 25,945 | 394,698 | 310,123 | ||||||||||||
| Less: income tax expenses | (51,572 | ) | (133,110 | ) | ) | (395,100 | ) | (457,405 | ) | ) | ||||||
| Non-GAAP net profit | 563,047 | 714,819 | 2,499,892 | 2,531,897 | ||||||||||||
| Less: Net profit/(loss) attributable to non-controlling interest shareholders | 4,273 | 50 | 42,650 | 4,699 | ||||||||||||
| Non-GAAP net profit attributable to FinVolution Group | 558,774 | 714,769 | 2,457,242 | 2,527,198 | ||||||||||||
| Weighted average number of ordinary shares used in computing net income per share | ||||||||||||||||
| Basic | 1,342,940,746 | 1,266,235,809 | 1,374,713,018 | 1,287,853,207 | ||||||||||||
| Diluted | 1,367,430,282 | 1,303,393,465 | 1,402,947,561 | 1,320,229,492 | ||||||||||||
| Non-GAAP net profit per share attributable to FinVolution Group’s ordinary shareholders | ||||||||||||||||
| Basic | 0.42 | 0.56 | 1.79 | 1.96 | ||||||||||||
| Diluted | 0.41 | 0.55 | 1.75 | 1.91 | ||||||||||||
| Non-GAAP net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equal five ordinary shares) | ||||||||||||||||
| Basic | 2.08 | 2.82 | 8.94 | 9.81 | ||||||||||||
| Diluted | 2.04 | 2.74 | 8.76 | 9.57 |
All values are in US Dollars.
| 14 |
| --- |
Exhibit 99.2
FinVolutionGroup Announces Dividend Increase to US$0.277 per American Depositary Share, Up 17% Year-Over-Year
-RepresentsApproximately 21.5% Payout Ratio of Net Income for FY 2024-
-Marksseventh consecutive year of dividend declaration-
-RevisedDividend Policy of between 20% to 30% of net income for 2025 onward-
SHANGHAI, March 17, 2025 /PRNewswire/ -- FinVolution Group (“FinVolution,” or the “Company”) (NYSE: FINV), a leading fintech platform in China, Indonesia and the Philippines, today announced that its board of directors (the “Board”) has approved a cash dividend of US$0.277 per American Depositary Share, which represents a payout ratio of approximately 21.5% of the Company’s net income for fiscal year 2024. The dividend is expected to be distributed on or around May 7, 2025 to shareholders of record as of the close of business on April 16, 2025.
The decision to distribute dividends, and the amount of any such dividend payments, is made at the Board’s discretion based on the Company’s operations, earnings, cash flows, financial condition and other relevant factors.
The Company’s annual cash dividend policy in effect through fiscal year 2024 states that the Company will declare and distribute a recurring cash dividend of no less than 10% of the Company’s net income after tax in the previous fiscal year. The Company’s average dividend payout ratio for fiscal years 2018 to 2023 was approximately 16% of the Company’s net income in the same period. For fiscal year 2025 onward, the new policy states that the Company will declare and distribute a recurring cash dividend of between 20% to 30% of the Company’s net income after tax in the fiscal year. Distributions to shareholders for fiscal year 2024 will total approximately US$160.4 million, consisting of US$90.2 million in share repurchases and US$70.2 million in dividends, representing total payout ratio of approximately 49.1%.
Mr. Shaofeng Gu, Chairman of the Board and Chief Innovation Officer of the Company, commented, “We are pleased to declare dividends for the seventh consecutive year and implement an enhanced dividend policy for 2025, reaffirming our dedication to increasing shareholder value. Since our IPO, we have consistently returned value to our shareholders through our capital return program.”
Mr. Tiezheng Li, Vice Chairman of the Board and Chief Executive Officer of the Company commented, “Our Local Excellence, Global Outlook Strategy has effectively strengthened our operations in both China and international markets, allowing us to achieve sustainable, high-quality growth while sharing the profits with our shareholders.”
AboutFinVolution Group
FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2024, the Company had 208.3 million cumulative registered users across China, Indonesia and the Philippines.
For more information, please visit https://ir.finvgroup.com
SafeHarbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Forinvestor and media inquiries, please contact:
In China:
FinVolution Group
Head of Capital Markets
Jimmy Tan, IRC
Tel: +86 (21) 8030 3200 Ext. 8601
Email: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
Exhibit 99.3
FinVolutionGroup Announces New Share Repurchase Program
UpTo US$150 million
SHANGHAI, March 17, 2025 /PRNewswire/ -- FinVolution Group (“FinVolution,” or the “Company”) (NYSE: FINV), a leading fintech platform in China, Indonesia and the Philippines, today announced that the board of directors of the Company (the “Board”) has authorized a new share repurchase program (the “New Share Repurchase Program”) effective on March 20, 2025. Pursuant to the New Share Repurchase Program, the Company may repurchase up to US$150.0 million worth of its shares (including ADSs) during the period from March 20, 2025 to March 19, 2027.
Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution Group, said, “We remain dedicated to increasing shareholder value. Since the initial launch of our first share repurchase program on March 21, 2018, through December 31, 2024, we have cumulatively deployed approximately US$370.0 million to repurchase the Company’s ADSs. We believe that the current external environment, coupled with our strong financial foundation, presents a compelling opportunity to deliver shareholder value. This New Share Repurchase Program is also our fourth share repurchase program, reflecting our confidence in the Company’s ‘Local Excellence, Global Outlook’ strategy, business operations and outlook.”
“Our Board’s approval of the New Share Repurchase Program underscores the Company’s effective business strategies and impressive growth trajectory,” said Mr. Shaofeng Gu, Chairman and Chief Innovation Officer of FinVolution Group. “We continue to view FinVolution as an excellent investment at our current market valuation, and share buybacks serve as a useful capital management tool in the current environment. With our thriving expansion in multiple international markets and a solid balance sheet, we believe we are well-positioned to capitalize on this buying opportunity and deliver long-term sustainable growth for all our stakeholders.”
The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Board will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
AboutFinVolution Group
FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2024, the Company had 208.3 million cumulative registered users across China, Indonesia and the Philippines.
For more information, please visit https://ir.finvgroup.com
SafeHarbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Forinvestor and media inquiries, please contact:
In China:
FinVolution Group
Head of Capital Markets
Jimmy Tan, IRC
Tel: +86 (21) 8030 3200 Ext. 8601
Email: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com