you, Thank morning good evening, Min. good everyone. And and
been XXXX given weakened Min As our operation saw lending global impact and in conservative assessments risk implementing online that new credit business intricate a loan have transactions. mentioned, economy strict maintaining from the market for dynamics, and cautious we by
decreased loan As book our credit was the for focused volumes volume on a profiles. credit quarter particular, the our In sequentially. intricate we loan In transaction standards to order new with loan dynamic, market the to uphold borrowers navigate slightly transaction rigorous XX% continue result, open in fourth Meanwhile, quarter. platform fourth strong by quarter. from declined approvals X% prior in origination
quarter fourth third delinquencies to the Day-X trending downwards around a at prior which end as fell Our our at quarter. by quarter, of in decrease XX% the XX% end from the compared the delinquency the approximately to evidenced continued rate, of
help [ph] We gradually closely will business. Besides, we're that strategy, online like to our the to operating impact thoughtful our we’ll I'd that the along lending down our including landscape, to our all us in value that to business, deliver believe stakeholders. the long-term with take regulatory proactively evolving environment. changing luxury We factors solid will rapidly may continue our regime swift and in monitor fundamentals winding measures e-commerce response mention
over I them the In will go me key Now, some you interest not with let time, share results. line-by-line. financial of
discussion of our our XXXX earnings results, year full please For refer press to release. fourth more detailed and quarter
of XX% fourth decrease fourth the for quarter representing XXXX. of quarter RMBXXX from revenues total the Our were a million,
financing decrease quarter a on-balance fourth result the of Our million, as sheet of average XXXX, totaled decrease RMBXXX a the a in from representing XX% loan of income balance.
fourth Our of loan by in facilitation volume income the and as the RMBXXX quarter from loans XX% of reduction this result a XXXX, of income related other transaction during decreased off-balance to sheet quarter.
fourth increased million sheet of down the Auto Our from increase and partially the of quarter on-balance sold the of to partially XX% RMBXXX the sales e-commerce increased the in due associated decrease business. Auto goods fourth book funding with business. XXXX, Dabai income luxury to the the by by platform, in offset costs revenues primarily quarter sales decrease luxury cost platform, business from Dabai of the XXXX, by in to related due related to million offset Cost RMBXXX winding mainly of e-commerce loan the to the to the costs of
principal of for quarter of positive negative on-balance receivables mainly provisions and assets reversed for a fourth million quarter XXXX, Our RMBXX receivables the to to to compared XXXX. outstanding the other to RMBXXXmillion fourth the decrease past-due compared sheet in due
Our net RMBXXX. RMBXXX was million was conclude prepared our that, will non-GAAP remarks. income Qudian's net income to and my attributable I shareholders With
to will Operator, the call continue. now questions. please We open
