FinVolution Group 6-K, filed Mar 18, 2025

FinVolution Group (FINV)

6-K 2025-03-18 For: 2025-03-18

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Added on April 07, 2026

About this 6-K

FinVolution Group filed this 6-K on March 18, 2025.

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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 Change		For the Full Year Ended / As of December 31,				YoY 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	%

	●	Cumulative registered users⁶ reached 172.6 million as of December 31, 2024, an increase of 10.9% compared with December 31, 2023.
	●	Cumulative borrowers⁷ reached 26.8 million as of December 31, 2024, an increase of 6.3% compared with December 31, 2023.
	●	Number of unique borrowers⁸ for the fourth quarter of 2024 was 2.1 million, an increase of 0.3% compared with the same period of 2023.
	●	Transaction volume² reached RMB54.0 billion for the fourth quarter of 2024, an increase of 7.8% compared with the same period of 2023.
	●	Transaction volume facilitated for repeat individual borrowers⁹ for the fourth quarter of 2024 was RMB46.7 billion, an increase of 9.1% compared with the same period of 2023.
	●	Outstanding loan balance⁴ reached RMB69.8 billion as of December 31, 2024, an increase of 5.6% compared with December 31, 2023.
	●	Average loan size¹⁰was RMB11,466 for the fourth quarter of 2024, compared with RMB9,044 for the same period of 2023.
	●	Average loan tenure¹¹was 8.0 months for the fourth quarter of 2024, compared with 8.2 months for the same period of 2023.
	●	90 day+ delinquency ratio¹² was 2.13% as of December 31, 2024.

	●	Cumulative registered users¹³ reached 35.7 million as of December 31, 2024, an increase of 45.1% compared with December 31, 2023.
	●	Cumulative borrowers¹⁴ for the international market reached 7.0 million as of December 31, 2024, an increase of 45.8% compared with December 31, 2023.
	●	Number of unique borrowers¹⁵ for the fourth quarter of 2024 was 1.6 million, an increase of 87.9% compared with the same period of 2023.
	●	Number of new borrowers¹⁶ for the fourth quarter of 2024 was 0.7 million, an increase of 118.4% compared with the same period of 2023.
	●	Transaction volume³ reached RMB2.9 billion for the fourth quarter of 2024, an increase of 26.1% compared with the same period of 2023.
	●	Outstanding loan balance⁵ reached RMB1.7 billion as of December 31, 2024, an increase of 30.8% compared with December 31, 2023.
	●	International business revenue was RMB739.3 million (US$101.3 million) for the fourth quarter of 2024, an increase of 22.8% compared with the same period of 2023, representing 21.4% of total revenue for the fourth quarter of 2024.

	●	Net revenue was RMB3,456.7 million (US$473.6 million) for the fourth quarter of 2024, compared with RMB3,223.6 million for the same period of 2023.
	●	Net profit 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.
	●	Non-GAAP adjusted operating income¹⁷, 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.
	●	Diluted net profit per American depositary share (“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-GAAP diluted 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 of the Company represents five Class A ordinary shares of the Company.

United States (toll free):	+1-888-346-8982
Canada (toll free):	+1-855-669-9657
International:	+1-412-902-4272
Hong Kong, China (toll free):	800-905-945
Hong Kong, China:	+852-3018-4992
Mainland, China:	400-120-1203

United States (toll free):	+1-877-344-7529
Canada (toll free):	+1-855-669-9658
International:	+1-412-317-0088
Replay Access Code:	2187762

	As of December 31,			As of December 31,
	2023			2024
	RMB			RMB			USD
Assets
Cash and cash equivalents		4,969,319			4,672,772			640,167
Restricted cash		1,800,071			2,074,300			284,178
Short-term investments		2,960,821			2,832,382			388,035
Investments		1,135,133			1,173,003			160,701
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			224,623
Intangible assets		98,692			137,298			18,810
Property, equipment and software, net		140,933			623,792			85,459
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			569,592
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			329,604
Deferred tax assets		1,624,325			2,513,865			344,398
Right of use assets		38,110			36,826			5,045
Prepaid expenses and other assets		3,384,317			1,289,380			176,644
Goodwill		50,411			50,411			6,906
Total assets		21,293,673			23,607,121			3,234,162
Liabilities and Shareholders’ Equity
Deferred guarantee income		1,882,036			1,515,950			207,684
Liability from quality assurance commitment		3,306,132			2,964,116			406,082
Payroll and welfare payable		261,528			290,389			39,783
Taxes payable		207,477			705,928			96,712
Short-term borrowings		5,756			5,594			766
Funds payable to investors of consolidated trusts		436,352			796,122			109,068
Contract liability		5,109			10,185			1,395
Deferred tax liabilities		340,608			491,213			67,296
Accrued expenses and other liabilities		941,899			1,245,184			170,590
Leasing liabilities		35,878			28,765			3,941
Total liabilities		7,422,775			8,053,446			1,103,317
Commitments and contingencies
FinVolution Group Shareholders’ equity
Ordinary shares		103			103			14
Additional paid-in capital		5,748,734			5,815,437			796,712
Treasury stock		(1,199,683	)		(1,765,542	)		(241,878	)
Statutory reserves		762,472			852,723			116,823
Accumulated other comprehensive income		80,006			92,626			12,689
Retained Earnings		8,357,153			10,208,717			1,398,588
Total FinVolution Group shareholders’ equity		13,748,785			15,204,064			2,082,948
Non-controlling interest		122,113			349,611			47,897
Total shareholders’ equity		13,870,898			15,553,675			2,130,845
Total liabilities and shareholders’ equity		21,293,673			23,607,121			3,234,162

	For the Three Months Ended December 31,									For the Year Ended December 31,
	2023			2024						2023			2024
	RMB			RMB			USD			RMB			RMB			USD

Operating revenue:
Loan facilitation service fees		1,107,434			1,344,799			184,237			4,520,504			4,694,380			643,127
Post-facilitation service fees		495,431			460,465			63,083			1,969,705			1,740,241			238,412
Guarantee income		1,267,515			1,205,502			165,153			4,478,995			5,085,296			696,683
Net interest income		227,426			217,927			29,856			1,049,379			853,779			116,967
Other Revenue		125,791			227,999			31,236			528,862			692,128			94,821
Net revenue		3,223,597			3,456,692			473,565			12,547,445			13,065,824			1,790,010
Operating expenses:
Origination, servicing expenses and other cost of revenue		(563,142	)		(663,982	)		(90,965	)		(2,111,515	)		(2,381,839	)		(326,311	)
Sales and marketing expenses		(491,381	)		(531,530	)		(72,819	)		(1,887,442	)		(2,014,254	)		(275,952	)
Research and development expenses		(127,605	)		(126,257	)		(17,297	)		(510,986	)		(496,740	)		(68,053	)
General and administrative expenses		(115,209	)		(112,570	)		(15,422	)		(390,022	)		(413,548	)		(56,656	)
Provision for accounts receivable and contract assets		(36,413	)		(95,132	)		(13,033	)		(253,948	)		(317,049	)		(43,436	)
Provision for loans receivable		(107,562	)		(64,346	)		(8,815	)		(586,843	)		(320,013	)		(43,842	)
Credit losses for quality assurance commitment		(1,269,514	)		(1,074,955	)		(147,268	)		(4,422,802	)		(4,587,254	)		(628,451	)
Total operating expenses		(2,710,826	)		(2,668,772	)		(365,619	)		(10,163,558	)		(10,530,697	)		(1,442,701	)
Operating profit		512,771			787,920			107,946			2,383,887			2,535,127			347,309
Other income, net		67,633			25,945			3,554			394,698			310,123			42,487
Profit before income tax expense		580,404			813,865			111,500			2,778,585			2,845,250			389,796
Income tax expenses		(51,572	)		(133,110	)		(18,236	)		(395,100	)		(457,405	)		(62,664	)
Net profit		528,832			680,755			93,264			2,383,485			2,387,845			327,132
Less: Net profit/(loss) attributable to non-controlling interest shareholders		4,273			50			7			42,650			4,699			644
Net profit attributable to FinVolution Group		524,559			680,705			93,257			2,340,835			2,383,146			326,488
Foreign currency translation adjustment, net of nil tax		8,855			249,597			34,195			27,769			234,012			32,060
Total comprehensive income attributable to FinVolution Group		533,414			930,302			127,452			2,368,604			2,617,158			358,548
Weighted average number of ordinary shares used in computing net income per share
Basic		1,342,940,746			1,266,235,809			1,266,235,809			1,374,713,018			1,287,853,207			1,287,853,207
Diluted		1,367,430,282			1,303,393,465			1,303,393,465			1,402,947,561			1,320,229,492			1,320,229,492
Net profit per share attributable to FinVolution Group’s ordinary shareholders
Basic		0.39			0.54			0.07			1.70			1.85			0.25
Diluted		0.38			0.52			0.07			1.67			1.81			0.25
Net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equal five ordinary shares)
Basic		1.95			2.69			0.37			8.51			9.25			1.27
Diluted		1.92			2.61			0.36			8.34			9.03			1.24

	Three Months Ended December 31,									Year Ended December 31,
	2023			2024						2023			2024
	RMB			RMB			USD			RMB			RMB			USD
Net cash provided by operating activities		45,284			299,509			41,033			1,360,872			2,893,160			396,361
Net cash provided by/(used in) investing activities		(104,246	)		(745,555	)		(102,141	)		1,411,992			(2,295,816	)		(314,526	)
Net cash provided by/(used in) financing activities		(1,030,417	)		255,302			34,976			(2,505,002	)		(622,715	)		(85,312	)
Effect of exchange rate changes on cash and cash equivalents		(4,975	)		5,406			741			22,441			3,053			419
Net increase/ (decrease) in cash, cash equivalent and restricted cash		(1,094,354	)		(185,338	)		(25,391	)		290,303			(22,318	)		(3,058	)
Cash, cash equivalent and restricted cash at beginning of period		7,863,744			6,932,410			949,736			6,479,087			6,769,390			927,403
Cash, cash equivalent and restricted cash at end of period		6,769,390			6,747,072			924,345			6,769,390			6,747,072			924,345