6-K - YRD - Equibles

UNITED STATES

SECURITIES AND EXCHANGECOMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATEISSUER

PURSUANT TO RULE 13a-16OR 15d-16 UNDER

THE SECURITIES EXCHANGEACT OF 1934

Forthe month of November 2025

Commission File Number: 001-37657

YIREN DIGITAL LTD.

28/F, China MerchantsBureau Building

118 Jianguo Road

Chaoyang District,Beijing 100022

The People’sRepublic 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 ¨

ExhibitIndex

Exhibit No.	Description
99.1	Yiren Digital Reports Third Quarter 2025 Financial Results

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.

Yiren Digital Ltd.
By:	/s/ Ka Chun William Hui
	Name:	Ka Chun William Hui
	Title:	Chief Financial Officer

Date: November 26, 2025

Exhibit 99.1

Yiren Digital Reports Third Quarter 2025 Financial Results

BEIJING, Nov. 25, 2025 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company specializing in digital consumer lending, insurance and financial technology innovation across China and Southeast Asia, today announced its unaudited financial results for the quarter ended September 30, 2025.

ThirdQuarter 2025 Operational Highlights

FinancialServices Business

·	Total<br> loans facilitated in the third quarter of 2025 reached RMB20.2 billion (US$2.8<br> billion), representing an increase of 51% compared to RMB13.4 billion in the same<br> period of 2024 and remaining stable compared to RMB20.3 billion in the second quarter<br> of 2025.
·	Cumulative<br> number of borrowers served reached 14,006,873 as of September 30, 2025, representing<br> an increase of 3% from 13,536,838 as of June 30, 2025, and increase of 21% compared<br> to 11,611,899 as of September 30, 2024.
·	Number<br> of borrowers served in the third quarter of 2025 was 1,335,978, representing a decrease of<br> 18% compared to 1,637,912 in the second quarter of 2025 and a decrease of 11% compared to<br> 1,498,020 in the same period of 2024. The decrease was due to our strategic tightening of<br> our credit policy amid industry-wide credit risk fluctuations.
·	Outstanding<br> balance of performing loans facilitated reached RMB34.2 billion (US$4.8 billion)<br> as of September 30, 2025, representing an increase of 10% from RMB31.2 billion as<br> of June 30, 2025 and an increase of 50% compared to RMB22.8 billion as<br> of September 30, 2024.

InsuranceBrokerage Business

·	Gross<br> written premiums in the third quarter of 2025 were RMB1,148.0 million (US$161.3<br> million), representing an increase of 35% from RMB850.1 million in the second quarter<br> of 2025 and 15% decrease compared to RMB1,351.3 million in the same period of 2024.<br> The increase was attributed to the accelerating growth of our internet insurance business<br> as well as the strong performance of renewal premiums.
·	Annualized<br> insurance premiums of internet insurance products were RMB196.2 million (US$27.6<br> million), representing an increase of 204% from RMB64.5 million in the second quarter<br> of 2025.

"We delivered a stable and resilient quarter amid industry-wide challenges," said Mr. Ning Tang, Chairman and Chief Executive Officer. "Through adaptive risk management measures and business diversification — including the growth of our high-potential online insurance business — we have demonstrated our ability to manage risk in a challenging environment."

"As part of our ongoing transformation, we advanced our agentic AI capabilities to improve process efficiency and unit economics. These innovations are now helping to mitigate the margin pressure associated with the current credit cycle."

"We maintain a healthy and ample cash position and are driving the turnaround of the insurance business with the new internet insurance strategy. Our balance sheet remained robust with total cash, cash equivalents, and restricted cash of RMB4.3 billion. This provides us with the financial flexibility to invest in our next generation of fintech." Mr. William Hui, Chief Financial Officer commented.

ThirdQuarter 2025 Financial Results

Totalnet revenuein the third quarter of 2025 was RMB1,555.0 million (US$218.4 million), representing an increase of 5% from RMB1,479.1 million in the third quarter of 2024. Particularly, in the third quarter of 2025, revenue from financial services business was RMB1,423.2 million (US$199.9 million), representing an increase of 70% from RMB836.2 million in the same period of 2024. The increase was attributed to persistent demand for our small revolving loan products, as well as a growing repeat borrowing rate among existing borrowers. The financial service revenue accounts for 92% of the total net revenue. Revenue from insurance brokerage business was RMB84.2 million (US$11.8 million), representing a decrease of 2% from RMB85.5 million in the third quarter of 2024. The decrease was attributable to lower overall commission rates from the traditional line. Net revenue from other business was RMB47.5 million (US$6.7 million), compared with the revenue of RMB557.4 million in the third quarter of 2024. The decrease was mainly attributed to our strategic decision to wind down the historical "consumption and lifestyle" segment announced in the fourth quarter of 2024.

Salesand marketing expenses in the third quarter of 2025 were RMB331.8 million (US$46.6 million), compared to RMB335.6 million in the same period of 2024.

Origination,servicing and other operating costs in the third quarter of 2025 were RMB149.9 million (US$21.1 million), compared to RMB205.9 million in the same period of 2024. This decrease was primarily due to 27% decrease in origination and service expense from the financial services and lower commission costs from our insurance brokerage business.

Researchand development expenses in the third quarter of 2025 were RMB91.5 million (US$12.9 million), compared to RMB150.8 million in the same period of 2024. The decrease in R&D expenses was due to the one-off system development project from 2024.

Generaland administrative expenses in the third quarter of 2025 were RMB104.4 million (US$14.7 million), compared to RMB80.1 million in the same period of 2024. The increase was primarily due to increase in personnel related costs to strengthen our risk management and fund the plan for new business initiatives.

Allowancefor contract assets, receivables and othersin the third quarter of 2025 was RMB229.4 million (US$32.2 million), compared to RMB94.9 million in the same period of 2024. The increase was driven by higher receivables from loan facilitation services and guarantee services, fueled by growing loan volume. Additionally, due to the increase in self-funded loan balance in the third quarter of 2025, the balance of financing receivables increased from RMB 17.5 million to RMB 1.1 billion.

Provisionfor contingent liabilities in the third quarter of 2025 was RMB459.8 million (US$64.6 million), compared to RMB272.4 million in the same period of 2024. The increase was attributable to increase in loan volume facilitated under risk-taking model. ^[1]^

Fairvalue adjustments gainin the third quarter of 2025 was a gain of RMB161.3 million (US$22.7 million) compared to a gain of RMB36.4 million in the same period of 2024. The increase was mainly due to the fair value change in crypto assets, driven by an increase in the price of Ethereum.

Incometax expensein the third quarter of 2025 was RMB56.1 million (US$7.9 million).

Netincome in the third quarter of 2025 was RMB317.6 million (US$44.6 million), as compared to RMB355.4 million in the same period in 2024. The decrease was primarily due to substantial upfront provisions — required by accounting principles for our growing loan volume under the "risk-taking model" — coupled with a declining fee rate of loan-facilitation business following the new regulations as well as a decreasing commission rate in our insurance brokerage business. The industry-wide fluctuations in asset quality and our conservative risk assumptions are also attributed to the overall declined profitability.

^[1]^<br> The risk-taking model refers to the framework in which we assume the credit risk for the loans facilitated<br> on our platform.

AdjustedEBITDA^[2]^ (non-GAAP) in the third quarter of 2025 was RMB236.8 million (US$33.3 million), compared to RMB380.9 million in the same period of 2024 and RMB351.4 million in the second quarter of 2025.

Basicand diluted income per ADS in the third quarter of 2025 were RMB3.6472 (US$0.5124) and RMB3.6270 (US$0.5094) respectively, compared to a basic income per ADS of RMB4.0618 and a diluted income per ADS of RMB4.0384 in the same period of 2024.

Netcash used in operating activitiesin the third quarter of 2025 was RMB5.5 million (US$0.8 million), compared to RMB50.4 million generated from operating activities in the same period of 2024.

Netcash used in investing activities in the third quarter of 2025 was RMB707.6 million (US$99.4 million), compared to RMB1,859.6 million in the same period of 2024.

Netcash provided by financing activities in the third quarter of 2025 was RMB529.7 million (US$74.4 million), compared to RMB22.2 million used in financing activities in the same period of 2024.

As of September 30, 2025, cash and cash equivalents were RMB3,864.9 million (US$542.9 million), compared to RMB4,098.9 million as of June 30, 2025. As of September 30, 2025, the balance of financial investment was RMB498.8 million (US$70.1 million), compared to RMB418.9 million as of June 30, 2025.

Delinquencyrates^[3]^. As of September 30, 2025, the delinquency rates for loans that are past due for 1-30 days, 31-60 days and 61-90 days were 2.7%, 1.7% and 1.4%, respectively, compared to 1.7%, 1.1% and 1.0%, respectively, as of June 30, 2025.

BusinessOutlook

Based on the Company's preliminary assessment of business and market conditions, the Company projects the total revenue in the fourth quarter of 2025 to be between RMB1.4 billion and RMB1.6 billion, driven by loan growth from domestic market and international markets, and further market penetration into new customer segment.

This is the Company's current and preliminary view, which is subject to changes and uncertainties.

^[2]^ "Adjusted<br> EBITDA" is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of<br> "Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures" and the table captioned "Reconciliations of<br> Adjusted EBITDA" set forth at the end of this press release.
^[3]^"Delinquency<br> rates" refers to the outstanding principal balance of loans that were 1-30 days, 31-60 days and 61-90 days past due as a<br> percentage of the total performing outstanding principal balance of loans as of a specific date. Loans originating outside mainland<br> China are not included in the calculation. We define a performing loan as one that is being repaid according to the agreed terms and<br> has not become delinquent for more than 90 days.

^[2]^ "Adjusted EBITDA" is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of "Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures" and the table captioned "Reconciliations of Adjusted EBITDA" set forth at the end of this press release.

^[3]^"Delinquency rates" refers to the outstanding principal balance of loans that were 1-30 days, 31-60 days and 61-90 days past due as a percentage of the total performing outstanding principal balance of loans as of a specific date. Loans originating outside mainland China are not included in the calculation. We define a performing loan as one that is being repaid according to the agreed terms and has not become delinquent for more than 90 days.

Non-GAAPFinancial Measures

In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See "Operating Highlights and Reconciliation of GAAP to Non-GAAP measures" at the end of this press release.

CurrencyConversion

This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.1190 to US$1.00, the effective noon buying rate on September 30, 2025, as set forth in the H.10 statistical release of the Federal Reserve Board.

ConferenceCall

Yiren Digital's management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on November 25, 2025 (or 8:00 p.m. Beijing/Hong Kong Time on November 25, 2025).

Participants who wish to join the call should register online in advance of the conference at:

https://dpregister.com/sreg/10204584/1005e60b0b0

Once registration is completed, participants will receive the dial-in details for the conference call.

Additionally, a live and archived webcast of the conference call will be available at:

https://event.choruscall.com/mediaframe/webcast.html?webcastid=yBd8FS50

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 Yiren Digital'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 Yiren Digital's ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital's ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE or other stock exchange, 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 Yiren Digital'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 Yiren Digital 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.

AboutYiren Digital

Yiren Digital Ltd. is a leading fintech company specializing in digital consumer lending, insurance, and financial technology innovation across China and Southeast Asia. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. With the recent launch of its Magicube Agent Platform and its strategic entry into digital asset business, Yiren Digital is building a new growth engine to become an AI-powered and blockchain-enabled global fintech leader. For more information, please visit https://ir.yiren.com.

Unaudited<br> Condensed Consolidated Statements of Operations
(in thousands,<br> except for share, per share and per ADS data, and percentages)
	For<br> the Three Months Ended											For<br> the Nine Months Ended
	September 30,<br><br> 2024			June 30,<br><br> 2025			September 30,<br><br> 2025			September 30,<br> 2025		September 30,<br><br> 2024			September 30,<br><br> 2025			September 30,<br> 2025
	RMB			RMB			RMB					RMB			RMB
Net revenue:
Loan facilitation<br> services		600,899			874,584			611,859					1,972,726			2,228,837
Post-origination services		1,421			10,463			2,617					4,483			14,824
Guarantee services		136,746			316,942			458,363					222,533			1,093,702
Financing services		31,448			65,821			67,850					61,688			175,558
Insurance brokerage services		85,530			58,137			84,228					301,982			213,825
Electronic commerce services		546,366			93,962			32,555					1,572,943			310,590
Others		76,678			232,191			297,492					217,353			724,253
Total net<br> revenue		1,479,088			1,652,100			1,554,964					4,353,708			4,761,589
Operating costs and expenses:
Sales and marketing		335,647			345,166			331,758					897,971			953,876
Origination,servicing and other<br> operating costs		205,913			160,859			149,911					685,725			535,508
Research and development		150,840			107,693			91,514					247,173			285,161
General and administrative		80,097			78,862			104,420					232,441			279,119
Allowance for contract assets,<br> receivables and others		94,913			214,698			229,355					320,532			596,858
Provision<br> for contingent liabilities		272,406			385,674			459,783					618,589			1,256,220
Total operating<br> costs and expenses		1,139,816			1,292,952			1,366,741					3,002,431			3,906,742
Other income:
Investment income *		1,101			2,245			3,791					11,812			8,008
Interest income		20,776			22,353			19,704					62,446			64,291
Fair value adjustments gain		36,423			28,018			161,328					90,597			130,970
Others,<br> net		2,535			14,084			644					3,201			15,403
Total other<br> income		60,835			66,700			185,467					168,056			218,672
Income before<br> provision for income taxes		400,107			425,848			373,690					1,519,333			1,073,519
Share of results of equity<br> investees		-			(4,431	)		-					-			(4,560	)		)
Income tax<br> expense		44,665			63,877			56,053					268,480			146,276
Net income		355,442			357,540			317,637					1,250,853			922,683
Weighted average number<br> of ordinary shares outstanding, basic		175,018,644			172,907,793			174,179,898					173,557,082			173,301,042
Basic income per share		2.0309			2.0678			1.8236					7.2072			5.3242
Basic<br> income per ADS		4.0618			4.1356			3.6472					14.4144			10.6484
Weighted average number<br> of ordinary shares outstanding, diluted		176,035,324			174,102,643			175,153,288					175,457,062			174,402,280
Diluted income per share		2.0192			2.0536			1.8135					7.1291			5.2905
Diluted<br> income per ADS		4.0384			4.1072			3.6270					14.2582			10.5810
Unaudited Condensed Consolidated<br> Cash Flow Data
Net cash generated from/(used<br> in) operating activities		50,393			411,224			(5,484	)		)		1,051,044			884,390
Net cash used in investing activities		(1,859,587	)		(752,200	)		(707,599	)		)		(3,080,167	)		(1,605,389	)		)
Net cash (used in)/provided by<br> financing activities		(22,227	)		447,588			529,732					(162,885	)		896,744
Effect of foreign exchange rate<br> changes		(6,252	)		(9,412	)		(10,449	)		)		(5,808	)		(17,494	)		)
Net (decrease)/increase in cash,<br> cash equivalents and restricted cash		(1,837,673	)		97,200			(193,800	)		)		(2,197,816	)		158,251
Cash, cash<br> equivalents and restricted cash, beginning of period		5,698,461			4,356,408			4,453,608					6,058,604			4,101,557
Cash,<br> cash equivalents and restricted cash, end of period		3,860,788			4,453,608			4,259,808					3,860,788			4,259,808

All values are in US Dollars.

* Due to the expansion in the types of the Company's investments, investment income has been separately presented, split out from the original interest income, to reflect the realized gains from the Company's financial investments, and historical periods have been restated to enhance investors' comprehension of the Company's financial statements.

Unaudited Condensed Consolidated Balance Sheets

(inthousands)

	As of
	December 31,<br> 2024			June 30,<br> 2025			September 30,<br> 2025			September 30, 2025
	RMB			RMB			RMB
Cash and cash equivalents		3,841,284			4,098,851			3,864,891
Restricted cash		260,273			354,757			394,917
Accounts receivable		566,541			553,660			796,551
Guarantee receivable		474,132			656,019			715,996
Contract assets, net		1,008,920			1,319,246			1,227,236
Contract cost		294			4,880			6,936
Prepaid expenses and other assets		2,361,585			2,486,393			2,672,111
Loans at fair value		421,922			480,915			473,570
Financing receivables		17,515			484,733			1,061,080
Amounts due from related parties		3,387,952			3,131,581			3,101,835
Financial investments		437,203			418,856			498,766
Equity investments		9,239			4,633			4,633
Property, equipment and software, net		78,678			85,155			84,867
Crypto assets		-			203,541			333,530
Deferred tax assets		77,463			128,989			173,182
Right-of-use assets		39,695			37,190			40,257
Total assets		12,982,696			14,449,399			15,450,358
Accounts payable		43,167			61,580			50,401
Amounts due to related parties		129,629			81,688			51,826
Guarantee liabilities-stand ready		606,886			889,343			929,970
Guarantee liabilities-contingent		578,797			848,704			874,717
Deferred revenue		9,479			515			335
Payable to investors at fair value		368,022			872,250			1,392,631
Accrued expenses and other liabilities		1,622,050			1,582,978			1,647,346
Borrowings		-			-			9,255
Deferred tax liabilities		41,471			91,666			108,404
Lease liabilities		40,765			38,281			42,596
Total liabilities		3,440,266			4,467,005			5,107,481
Ordinary shares		132			132			133
Additional paid-in capital		5,198,457			5,210,508			5,229,667
Treasury stock		(170,463	)		(170,686	)		(170,686	)		)
Accumulated other comprehensive income		79,268			42,195			70,603
Retained earnings		4,435,036			4,900,245			5,213,160
Total equity		9,542,430			9,982,394			10,342,877
Total liabilities and equity		12,982,696			14,449,399			15,450,358

All values are in US Dollars.

Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures

(inthousands, except for number of borrowers, number of insurance clients, cumulative number of insurance clients and percentages)

	For the Three Months Ended											For the Nine Months Ended
	September 30,<br> 2024			June 30,<br> 2025			September 30,<br> 2025			September 30, 2025		September 30,<br> 2024			September 30,<br> 2025			September 30, 2025
	RMB			RMB			RMB					RMB			RMB
Operating Highlights
Amount of loans facilitated		13,392,676			20,347,799			20,166,545					38,239,060			55,752,267
Number of borrowers		1,498,020			1,637,912			1,335,978					3,365,960			3,145,904
Remaining principal of performing loans		22,768,555			31,220,078			34,235,130					22,768,555			34,235,130
Cumulative number of insurance clients		1,470,738			1,681,888			1,853,435					1,470,738			1,853,435
Number of insurance clients		82,291			118,747			229,353					226,191			387,130
Gross written premiums		1,351,311			850,080			1,147,966					3,324,627			2,799,844
First year premium		511,377			440,353			443,189					1,602,905			1,296,039
Renewal premium		839,934			409,727			704,777					1,721,722			1,503,805
Segment Information
Financial services business:
Revenue		836,193			1,489,587			1,423,231					2,425,341			4,207,298
Sales and marketing expenses		307,459			332,405			322,184					812,484			915,492
Origination, servicing and other operating costs		119,706			105,617			87,322					318,727			333,562
Allowance for contract assets, receivables and others		93,248			216,260			226,267					319,140			594,639
Provision for contingent liabilities		272,406			385,674			459,783					618,589			1,256,220
Insurance brokerage business:
Revenue		85,530			58,137			84,228					301,982			213,825
Sales and marketing expenses		3,545			2,731			2,077					11,373			7,603
Origination, servicing and other operating costs		78,466			52,683			61,142					337,707			195,265
Allowance for contract assets, receivables and others		(414	)		564			677					(904	)		663
Others:
Revenue		557,365			104,376			47,505					1,626,385			340,466
Sales and marketing expenses		24,643			10,030			7,497					74,114			30,781
Origination, servicing and other operating costs		7,741			2,559			1,447					29,291			6,681
Allowance for contract assets, receivables and others		1,666			45			34					1,664			(1,915	)		)
Reconciliation of Adjusted EBITDA
Net income		355,442			357,540			317,637					1,250,853			922,683
Interest income and investment income, net		(21,877	)		(24,598	)		(23,495	)		)		(74,258	)		(72,299	)		)
Income tax expense		44,665			63,877			56,053					268,480			146,276
Depreciation and amortization		2,401			2,643			3,252					6,319			8,192
Share-based compensation		13,235			6,932			14,439					16,578			23,558
Fair value adjustments related to crypto<br> assets and financial investment		(12,954	)		(54,979	)		(131,101	)		)		(11,286	)		(115,256	)		)
Adjusted EBITDA		380,912			351,415			236,785					1,456,686			913,154
Adjusted EBITDA margin		25.8	%		21.3	%		15.2	%		%		33.5	%		19.2	%		%

All values are in US Dollars.

Delinquency Rates
	1-30 days			31-60 days			61-90 days
December 31, 2020		1.3	%		0.7	%		0.6	%
December 31, 2021		2.0	%		1.5	%		1.2	%
December 31, 2022		1.7	%		1.2	%		1.1	%
December 31, 2023		2.0	%		1.4	%		1.2	%
December 31, 2024		1.6	%		1.2	%		1.1	%
March 31, 2025		1.6	%		1.2	%		1.2	%
June 30, 2025		1.7	%		1.1	%		1.0	%
September 30, 2025		2.7	%		1.7	%		1.4	%

30+Days Delinquency Rates By Vintage*

Loan<br> Issued<br> Period
	2		4		6		8		10		12		14		16		18		20		22		24
2020Q1	0.8	%	2.0	%	3.4	%	4.5	%	5.4	%	5.9	%	6.5	%	6.8	%	7.1	%	7.5	%	8.1	%	8.5	%
2020Q2	0.6	%	2.0	%	3.3	%	4.5	%	5.3	%	6.0	%	6.4	%	6.9	%	7.4	%	8.0	%	8.6	%	8.8	%
2020Q3	1.3	%	2.8	%	4.3	%	5.4	%	6.3	%	6.9	%	7.5	%	8.2	%	8.9	%	9.3	%	9.5	%	9.5	%
2020Q4	0.3	%	1.4	%	2.4	%	3.4	%	4.3	%	5.4	%	6.4	%	7.3	%	7.7	%	8.0	%	8.2	%	8.3	%
2021Q1	0.5	%	1.8	%	3.0	%	4.2	%	5.3	%	6.3	%	7.1	%	7.3	%	7.5	%	7.7	%	7.8	%	7.9	%
2021Q2	0.5	%	2.1	%	3.8	%	5.5	%	6.8	%	7.5	%	7.7	%	7.9	%	8.1	%	8.3	%	8.2	%	8.2	%
2021Q3	0.6	%	2.5	%	4.2	%	5.4	%	6.1	%	6.5	%	6.7	%	6.9	%	6.9	%	6.9	%	6.9	%	6.8	%
2021Q4	0.8	%	2.7	%	4.1	%	4.9	%	5.4	%	5.8	%	5.8	%	5.8	%	5.7	%	5.6	%	5.6	%	5.5	%
2022Q1	0.7	%	2.1	%	3.2	%	4.0	%	4.6	%	4.8	%	4.7	%	4.6	%	4.6	%	4.5	%	4.5	%	4.4	%
2022Q2	0.5	%	1.8	%	2.9	%	3.8	%	4.3	%	4.5	%	4.4	%	4.3	%	4.3	%	4.2	%	4.2	%	4.1	%
2022Q3	0.6	%	2.2	%	3.5	%	4.3	%	4.8	%	5.0	%	5.0	%	4.9	%	4.9	%	4.8	%	4.7	%	4.7	%
2022Q4	0.7	%	2.5	%	3.9	%	4.9	%	5.6	%	5.9	%	5.8	%	5.8	%	5.7	%	5.6	%	5.5	%	5.4	%
2023Q1	0.6	%	2.4	%	4.0	%	5.2	%	5.9	%	6.2	%	6.1	%	6.0	%	5.9	%	5.8	%	5.7	%	5.6	%
2023Q2	0.7	%	3.0	%	4.9	%	6.3	%	7.0	%	7.3	%	7.2	%	7.0	%	6.9	%	6.8	%	6.7	%	6.6	%
2023Q3	0.9	%	3.7	%	5.8	%	7.1	%	7.9	%	8.1	%	8.0	%	7.9	%	7.7	%	7.6	%	7.5	%	7.5	%
2023Q4	0.8	%	3.6	%	5.8	%	7.0	%	7.6	%	7.8	%	7.7	%	7.5	%	7.4	%	7.3	%	7.3	%
2024Q1	0.7	%	3.2	%	5.0	%	6.1	%	6.7	%	7.0	%	6.9	%	6.8	%	6.7	%	6.9	%
2024Q2	0.6	%	2.5	%	4.2	%	5.3	%	6.0	%	6.2	%	6.2	%	6.2	%
2024Q3	0.6	%	2.3	%	3.8	%	4.9	%	5.6	%	5.9	%	5.7	%
2024Q4	0.7	%	2.4	%	3.9	%	5.1	%	5.9	%
2025Q1	0.6	%	2.4	%	4.3	%	5.2	%
2025Q2	0.8	%	3.3	%
2025Q3	1.0	%

*The 30+ days delinquency rate by vintage refers to the outstanding principal balance of loans facilitated over a specified period that are more than 30 days past due, as a percentage of the total loans facilitated during that same period. Loans originating outside mainland China are excluded from the calculation.