and and Thank everyone. morning good good evening Min you,
to we order by approach in the loan conservative previous rigorously new our market operate compared navigate book credit business in volume transactions. maintained for of mentioned, to XXXX, our first dynamics, our transaction business of the Min experienced evolving decrease we X.X% As risks an assessing loan quarter for quarter. with Consequently,
remains In operating level pay interest delinquency DX loan Moreover, the our than rate off the less history. our during in sequential quarter balance to of first standards end healthy particular, of at shareholders. the quarter our our a X% us our the further sheet continued for strong safeguard fell of a approval enabling XXXX, to book and credit strict to with first Our delinquencies. business in normal decrease
than childhood at XX% enrichment outstanding one-stop actively becoming towards of funded Min goal our quality own a Additionally, loans plus were we childhood transactions program. more our business, times. our early loan coverage MX are by progressing education extra-curricular of for early service remained our on Echoing our and provider ratio comprehensive sheet balance delinquency X.X
enrichment X such as top from basketball, ages to offers project Kids arts, programs football, Wanlimu X children Our numerous quality for dancing etcetera. swimming, and music sports,
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Now, not by results. I let me financial In line. them some line key the share you time, with go of interest over will
please our discussion release. of XXXX earnings detailed For first quarter refer to press results, a our more
$XX.X from a were representing quarter for total million million, million XXXX. Our the revenues RMBXXX RMBXXX.X first or of decrease
in to decrease first Loan result the income the the of financing year loan RMBXXX first as RMBXX sheet for a totaled of from on-balance income a million RMBXXX Our of XX% quarter. RMBXXX representing the in this facilitation a transaction result during quarter related other the volume sheet for and loans million reduction million quarter last average from income balance. decreased as decrease of million off-balance by XXXX the
the related platform. Sales related loss million first of reassessment mainly consideration. for for services Wanlimu of of from variable income sales RMBXX.X a transaction the as other RMBXXX fee to RMBXX.X first of million] mainly this result and from e-commerce the XXXX, Our to quarter to others increased the income million due increased and a quarter million year, [RMBX.X last to
RMBXX.X from to for sales merchandise by first transactions. decreased due million XXXX decrease quarter to million credit the the RMBXX.X the Our fee in of amount of commission XX%
last total to RMBX billion quarter first decreased also costs year. and for from million expenses the Our RMBXX.X operating XX% by
goods million in development salaries. Our primarily costs and last RMBXX.X RMBXX.X last XX.X% decrease sold for million salaries. General cost sheet Research for in as third-party RMBXX decreased XXXX to quarter administrative first marketing of expenses a million for primarily decrease and million expenses from the the business, XX% to staff the and the decreased RMBXX.X staff first of XX.X% of million due from by book to as to decreased result increase X.X% by with year, in by first marketing for million service in the million funding decreased the a e-commerce quarter from RMBXX.X quarter partially a cost in due offset decrease from decrease RMBXX.X the the and promotional loan by on-balance to to expenses the XXXX Wanlimu of Sales to quarter fees expenses. of of result RMBXX.X RMBXX.X associated by platform. revenues first related million year,
to for to reversal compared of billion] sheet Our was quarter first quarter other due last receivables principal [RMBX.X the a RMBXXX.X and decrease on-balance mainly the last receivables provision in past-due million, to first a loss outstanding year, of compared assets the year. for
million compared was as a of of Our loss quarter million to income XXXX. first from RMBXXX.X operations the RMBXXX.X for
per diluted RMBX.XX Our net income or shareholders was ADS. to attributable Qudian’s million RMBXXX.X
shareholders ADS. net Qudian’s non-GAAP or With RMBX.XX I will that, income conclude Our per attributable remarks. to diluted RMBXXX.X was prepared million my
open will questions. the call We now continue. to please Operator,