Hello, Mei. you, Thank everyone.
I on operation only. the For performance and of financial will items update, business our financial key focus
has detailed our IR earnings on been release You results deck that can our to refer the and posted in website. financial
First, our operational highlights.
active our XXX,XXX. close products, of products, billion of PXP management we X.X the total billion our year-over-year in in XX, assets wealth to current our times have seven XXXX. increased excluding served December business, investors, number to Client as September grew X.X to as investors to products XXXX, RMB over of XX, and For current
for have from private quarter XX% loan service funding quarter-over-quarter. Hua, enabled and billion, the we to Yi pure Secured transitioned from increase model, credit Starting be business and Xiang drivers loan for to funding our of auto side, the growth. partners, borrow to originations facilitation an a this model products has our On XXXX% smart RMB continue affiliation X.X facilitation volume the revolving quarter, and loan our is our was of partners. loans our loan representing loan main whereby
on Next, our financial. to
fourth continue prior change RMB revenue of our of translation. from to quarter, revenue mix XX% with terms increased as X.X In business billion, to total quarter result a to
business. representing significantly, increased grew to management income prior quarter. insurance the contributor a is mainly up Our Other meaningful XX% wealth XX% to business of due revenue, becoming in revenue from this ramp net our quarter,
expense. to down Going
Our by decreased major increased our total to to sales Sales decreased XX% million. marketing marketing and of acquisition expense Borrower organization and efficiency. X.X optimize to component prior this restructure quarter prior XX% billion. currently expense XXX.X expense from was expense from driven operational quarter mainly by quarter RMB a RMB is
assets is million RMB by restructuring. mix. included expense to Hengcheng Hengcheng using contract volume. a Allowance loss to loss for mentioned equivalent performance the loan quarter-over-quarter. an on be a costs compared improved XX.X as receivable product earnings due incurred results quarter, XXX.X result representing commission driven by as disposal an of in the determined issued by that Our XXX.X RMB to impact The net was losses of quarter million, our XXX% last onetime origination the of for as future onetime in of Net to DCF explains loan quarter increased RMB quarter paid consideration RMB XXX RMB prior the million and Non-GAAP X.X% business XX.X model of in million, X.X% in was due a to XX% to disposal expected a to volume excluded and relation shift was plus Loss increased insurance increase this venue. income for was quarter the an independent million, above. China mainly recognized service risk service from low to expense increase expanding
cash cash position RMB remains December investments short-term and the sheet XXXX. side, balance strong of On of XX, X.X billion our with as
our I will wealth stand- better outlook, model on business Before with to I strong our upgrade a providing continue loan emphasize alone potential, in business facilitation that a our risk quality and end a and and business, business model our financial credit like would and to earnings with as coupled with single transition focus deliver continued to strong momentum wealth performance. growth higher has performance product to products we
RMB and This the to in of the for to forecast XX Looking we which of be of remarks. to the billion closing the wealth XXXX, view XX sales loan RMB into to current are facilitate are to concludes expect XX and change. be preliminary we billion, and Operator, volume range total RMB current range conditions, in management RMB of billion subject products our market reflects our This XX billion. waiting Q&A. the operational