Yiren Digital Ltd 6-K, filed Nov 23, 2022

Yiren Digital Ltd. (YRD)

6-K 2022-11-23 For: 2022-11-23

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Added on April 06, 2026

About this 6-K

Yiren Digital Ltd filed this 6-K on November 23, 2022.

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Exhibit No.	Description

99.1	Yiren Digital Reports Third Quarter 2022 Financial Results

Yiren Digital Ltd.

By:	/s/ Na Mei
	Name:	Na Mei
	Title:	Chief Financial Officer

	For the Three Months Ended									For the Nine Months Ended
	September 30, 2021			September 30, 2022			September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2022
	RMB			RMB			USD			RMB			RMB			USD
Net revenue:
Loan facilitation services		601,283			334,162			46,976			1,694,788			837,548			117,741
Post-origination services		39,024			74,433			10,464			124,394			166,720			23,437
Insurance brokerage services		199,406			189,019			26,572			510,911			532,770			74,896
Financing services		144,614			54,702			7,690			384,813			242,843			34,138
Electronic commerce services		-			52,954			7,444			-			173,742			24,424
Others		247,664			135,385			19,031			742,083			392,921			55,236
Total net revenue		1,231,991			840,655			118,177			3,456,989			2,346,544			329,872
Operating costs and expenses:
Sales and marketing		407,172			136,406			19,176			1,249,230			470,547			66,149
Origination,servicing and other operating costs		186,915			223,622			31,436			544,107			565,250			79,462
General and administrative		139,321			109,947			15,456			386,876			338,459			47,580
Allowance for contract assets, receivables and others		83,578			35,074			4,931			318,243			132,476			18,622
Total operating costs and expenses		816,986			505,049			70,999			2,498,456			1,506,732			211,813
Other (expenses)/income:
Interest expense, net		(21,565	)		(378	)		(53	)		(55,327	)		(29,741	)		(4,181	)
Fair value adjustments related to Consolidated ABFE		(526	)		2,077			292			(49,162	)		21,862			3,073
Others, net		3,934			3,035			427			23,730			18,930			2,661
Total other (expenses)/income		(18,157	)		4,734			666			(80,759	)		11,051			1,553
Income before provision for income taxes		396,848			340,340			47,844			877,774			850,863			119,612
Income tax expense		75,923			70,020			9,843			175,555			141,227			19,853
Net income		320,925			270,320			38,001			702,219			709,636			99,759

Weighted average number of ordinary shares outstanding, basic		170,193,542			179,409,525			179,409,525			168,719,693			173,174,370			173,174,370
Basic income per share		1.8856			1.5067			0.2118			4.1620			4.0978			0.5761
Basic income per ADS		3.7712			3.0134			0.4236			8.3240			8.1956			1.1522

Weighted average number of ordinary shares outstanding, diluted		171,571,392			179,841,065			179,841,065			169,972,343			173,962,494			173,962,494
Diluted income per share		1.8705			1.5031			0.2113			4.1314			4.0792			0.5735
Diluted income per ADS		3.7410			3.0062			0.4226			8.2628			8.1584			1.1470

Unaudited Condensed Consolidated Cash Flow Data
Net cash generated from/(used in) operating activities		323,819			342,888			48,202			(31,185	)		1,377,540			193,651
Net cash (used in)/provided by investing activities		(233,782	)		(835,064	)		(117,391	)		(728,377	)		(230,586	)		(32,415	)
Net cash provided by/(used in) financing activities		49,770			(276,198	)		(38,827	)		473,277			(434,572	)		(61,091	)
Effect of foreign exchange rate changes		(257	)		2,284			321			(653	)		3,592			505
Net increase/(decrease) in cash, cash equivalents and restricted cash		139,550			(766,090	)		(107,695	)		(286,938	)		715,974			100,650
Cash, cash equivalents and restricted cash, beginning of period		2,280,660			4,427,408			622,395			2,707,148			2,945,344			414,050
Cash, cash equivalents and restricted cash, end of period		2,420,210			3,661,318			514,700			2,420,210			3,661,318			514,700

	As of
	December 31, 2021			June 30, 2022			September 30, 2022			September 30, 2022
	RMB			RMB			RMB			USD
Cash and cash equivalents		2,864,543			4,354,487			3,612,972			507,904
Restricted cash		80,800			72,921			48,346			6,796
Accounts receivable		305,018			297,939			274,623			38,606
Contract assets, net		1,105,905			634,079			502,936			70,702
Contract cost		9,959			2,545			1,610			226
Prepaid expenses and other assets		352,015			266,636			361,258			50,785
Loans at fair value		73,734			19,812			11,109			1,562
Financing receivables		1,697,962			960,238			713,411			100,290
Amounts due from related parties		879,256			935,714			1,124,738			158,113
Held-to-maturity investments		2,200			102,200			1,800			253
Available-for-sale investments		177,360			136,362			1,109,408			155,958
Property, equipment and software, net		102,548			92,714			82,184			11,553
Deferred tax assets		7,388			75,555			102,934			14,470
Right-of-use assets		80,752			48,151			39,133			5,501
Total assets		7,739,440			7,999,353			7,986,462			1,122,719
Accounts payable		19,065			30,903			31,711			4,458
Amounts due to related parties		434,127			411,530			244,185			34,327
Deferred revenue		12,379			1,713			526			74
Payable to investors at fair value		50,686			49,605			39,598			5,567
Accrued expenses and other liabilities		1,182,783			1,242,139			1,234,738			173,577
Secured borrowings		1,028,600			869,300			767,900			107,950
Refund liability		5,732			5,390			351			49
Deferred tax liabilities		112,535			80,200			78,819			11,079
Lease liabilities		72,101			49,724			40,968			5,759
Total liabilities		2,918,008			2,740,504			2,438,796			342,840
Ordinary shares		123			123			129			18
Additional paid-in capital		5,100,486			5,107,095			5,158,676			725,195
Treasury stock		(42,897	)		(42,897	)		(42,897	)		(6,030	)
Accumulated other comprehensive income		11,553			4,772			7,509			1,056
Accumulated deficit		(247,833	)		189,756			424,249			59,640
Total equity		4,821,432			5,258,849			5,547,666			779,879
Total liabilities and equity		7,739,440			7,999,353			7,986,462			1,122,719

	For the Three Months Ended									For the Nine Months Ended
	September 30, 2021			September 30, 2022			September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2022
	RMB			RMB			USD			RMB			RMB			USD
Operating Highlights
Amount of investment in current investment products		5,030,228			4,476,390			629,281			16,196,885			15,394,970			2,164,191
Number of investors in current investment products		127,378			176,787			176,787			299,186			437,296			437,296
Amount of loans facilitated under loan facilitation model		6,841,921			6,298,522			885,432			17,025,066			15,839,577			2,226,693
Number of borrowers		548,495			737,320			737,320			967,057			1,228,435			1,228,435
Remaining principal of performing loans facilitated under loan facilitation model		13,793,925			10,630,352			1,494,391			13,793,925			10,630,352			1,494,391
Gross merchandise volume		-			249,624			35,092			-			395,762			55,635

Segment Information
Holistic Wealth:
Revenue		337,627			294,332			41,376			888,209			852,237			119,806
Sales and marketing expenses		55,463			46,698			6,565			123,494			142,480			20,030
Origination,servicing and other operating costs		159,348			165,605			23,280			442,363			403,738			56,757

Consumer credit:
Revenue		894,364			493,369			69,357			2,568,780			1,320,565			185,642
Sales and marketing expenses		351,709			88,714			12,471			1,125,736			325,934			45,819
Origination,servicing and other operating costs		27,567			39,951			5,616			101,744			113,454			15,949

Others:
Revenue		-			52,954			7,444			-			173,742			24,424
Sales and marketing expenses		-			994			140			-			2,133			300
Origination,servicing and other operating costs		-			18,066			2,540			-			48,058			6,756

Reconciliation of Adjusted EBITDA
Net income		320,925			270,320			38,001			702,219			709,636			99,759
Interest expense, net		21,565			378			53			55,327			29,741			4,181
Income tax expense		75,923			70,020			9,843			175,555			141,227			19,853
Depreciation and amortization		8,449			8,514			1,197			35,770			23,893			3,359
Share-based compensation		11,742			15,760			2,216			16,592			20,642			2,902
Adjusted EBITDA		438,604			364,992			51,310			985,463			925,139			130,054
Adjusted EBITDA margin		35.6	%		43.4	%		43.4	%		28.5	%		39.4	%		39.4	%

Delinquency Rates (Loan Facilitation Model)
	15-29 days			30-59 days			60-89 days
All Loans
December 31, 2019		0.8	%		1.3	%		1.0	%
December 31, 2020		0.5	%		0.7	%		0.6	%
December 31, 2021		0.9	%		1.5	%		1.2	%
March 31, 2022		0.9	%		2.0	%		1.9	%
June 30, 2022		0.6	%		1.4	%		1.5	%
Septempber 30, 2022		0.7	%		1.1	%		1.0	%

Online Channels
December 31, 2019		1.0	%		2.1	%		1.6	%
December 31, 2020		0.6	%		1.0	%		1.1	%
December 31, 2021		0.8	%		1.3	%		1.1	%
March 31, 2022		0.7	%		1.5	%		1.3	%
June 30, 2022		0.6	%		1.1	%		1.2	%
Septempber 30, 2022		0.6	%		0.9	%		0.8	%

Offline Channels
December 31, 2019		0.7	%		0.9	%		0.7	%
December 31, 2020		0.4	%		0.6	%		0.4	%
December 31, 2021		1.0	%		1.8	%		1.4	%
March 31, 2022		1.1	%		2.7	%		2.9	%
June 30, 2022		0.8	%		2.0	%		2.3	%
Septempber 30, 2022		1.3	%		1.9	%		1.9	%

Net Charge-Off Rate (Loan Facilitation Model)
Loan Issued Period	Amount of Loans Facilitated During the Period		Accumulated M3+ Net Charge-Off as of Septempber 30, 2022		Total Net Charge-Off Rate as of Septempber 30, 2022
	(in RMB thousands)		(in RMB thousands)
2019		3,431,443		401,135		11.7	%
2020		9,614,819		768,606		8.0	%
2021		23,195,224		1,414,959		6.1	%
2022H1		9,541,056		140,742		1.5	%

M3+ Net Charge-Off Rate (Loan Facilitation Model)
Loan Issued Period	Month on Book
	4			7			10			13			16			19			22			25			28			31			34
2019Q1		0.0	%		0.8	%		2.0	%		3.4	%		5.3	%		5.9	%		6.3	%		6.3	%		6.3	%		6.3	%		6.3	%
2019Q2		0.1	%		1.5	%		4.5	%		7.5	%		8.8	%		9.2	%		9.9	%		10.3	%		10.6	%		10.6	%		10.6	%
2019Q3		0.2	%		2.9	%		6.8	%		9.0	%		10.4	%		12.0	%		13.2	%		13.8	%		14.4	%		14.6	%		14.6	%
2019Q4		0.4	%		3.1	%		4.9	%		6.3	%		7.2	%		7.9	%		8.4	%		8.9	%		9.5	%		9.8	%
2020Q1		0.6	%		2.3	%		4.1	%		5.2	%		6.0	%		6.2	%		6.6	%		7.2	%		7.7	%
2020Q2		0.5	%		2.5	%		4.2	%		5.3	%		6.1	%		6.7	%		7.5	%		8.1	%
2020Q3		1.1	%		3.3	%		5.1	%		6.3	%		7.1	%		8.1	%		8.7	%
2020Q4		0.3	%		1.8	%		3.2	%		4.6	%		6.0	%		7.0	%
2021Q1		0.4	%		2.3	%		3.9	%		5.5	%		6.6	%
2021Q2		0.4	%		2.4	%		4.5	%		5.9	%
2021Q3		0.5	%		3.1	%		5.0	%
2021Q4		0.6	%		3.2	%
2022Q1		0.6	%