X Financial (XYF) 23 Nov 232023 Q3 Earnings call transcript

Hello, and welcome to the X Financial Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded.

Now I'd like to turn the conference over to [ Victoria Yu ]. Please go ahead.

Thank you, operator. you us thank and everyone, for today. joining Hello, earlier are at available company's (sic) results the and released were website The on today company's ir.xiaoyinggroup.com ]. [ ir.xiaoying.com IR

today to go Zheng, Chief Mr. highlights, available Officer. Kan are call your On overview are a will followed through Zheng, Financial during the They X business of all Mr. Fuya and by the Mr. Mr. company's the the questions Frank financials. Li, from session. answer give President; will brief Li who Financial and operations Q&A

or operating statements I the Private or that to events this remind cause of and risks, to control, based and factors, current many you which the call conditions, forward-looking the of that company's Reform which involve and the from uncertainties actual current which predict, Litigation statements. all achievements harbor may XXXX. the company's and contain of are relate are management's forward-looking differ performance statements are beyond and materially on difficult under of to provisions those Such Act in may safe unknown known expectations other Securities results, market

required new the regarding future Commission. any the uncertainties included risks, Further company's the update information, otherwise, and any and under to as The obligation law. a Securities and is of filings events as factors these information company result other does undertake with U.S. Exchange in not statements except forward-looking or

Mr. please is now to It go ahead. Kan pleasure Mr. Li, my introduce Li.

everyone. Hello,

strong established continue deliver quarter. in see results the our that We third to strategy are pleased to

and improvement. and previous end high a the substantial both year-over-year reached our amount origination and showed facilitation our line top line loan guidance, bottom Our of

in regulatory the improved competition. has the increased moderately finance conditions resulting across normal and macroeconomic business During the environment industry, as stabilized, the returned to personal quarter,

our cost a As unit increased borrower acquisition quarter-over-quarter. result,

range. to fluctuated Our low loan historic the delinquencies middle within

billion. year-over-year RMB XX% During total originated quarter-over-quarter increased the XX% and XX loan our facilitated by and third quarter, to amount

With the quarter all total days ago. XX XXXX, respectively, a the and X.XX% end outstanding with billion at for rates the nearly compared loans XXX XX and for XX X.XX%, were XX reaching days outstanding due September RMB the of at delinquency end X.X%, and of X.XX% past loan respectively, to balance our to year

our acquire We to have quality time. expect fluctuate enhanced some to but delinquency efforts continue borrowers, rates we more for the to

maintain our cutting-edge quality, risk system will We borrower expanding quality asset on base. healthy leveraging more focusing and than management asset on the

our long-term execute we will returns and proven strategy for our growth ability and Going shareholders. continue to forward, to drive enhance our

call Now go Frank, I turn will will the to who through financials. our

Kan, and you, hello, Thank everyone.

net our year-over-year We RMB X,XXX are quarter. increased in and the million. Total XX% third very pleased XX.X% with quarter-over-quarter revenue results financial to solid by

a decrease million, borrowing acquisition management was While our net a income slight risks. year-over-year RMB was remarkable increase to to XX% and attributed rising asset decline the there quarter-over-quarter. primarily This XXX saw cost of quality

driver control achieve we risk manner. close remain market ensure and our growth to based long achieving dynamics To grow cost we We comprehensive take monitoring acquisition borrower will that which the sustainable on in and and the scale earnings shareholder is revenue of consideration a in revenue a profits to value. goal, in key clearly a this dedicated a balanced of term, both of

total an originated quarter RMB period in facilitated million XXX compared in with due primarily in Now increased net this and all RMB of that financial XX% the would amount Total to numbers revenue is Please some same the loan XXXX. the same I to increase note up. like QX. for by rounded performance brief RMB million XXXX, X,XXX from the period and are stated to

and period the the compared the and XXXX. increased RMB of to XXXX, in same increase in million acquisition originated resulting XXX.X quarter expenses facilitated the same the million expenses service XXX primarily with collection XX% cost to this from of RMB amount due and Origination total period by in increase from loan borrowing

Provisions same increase was a originated loans the same for compared of the loans due of amount receivable the with period total compared facilitated result million XXXX. RMB by an in increase to primarily receivable XXXX, held XX of XX quarter company loan in with period million RMB as this the and in the

with compared XXXX period XXXX. XXX RMB operations same with Net compared XXXX. net of Income income with adjusted million from million million in of was the period XXX million XXXX. XXX Non-GAAP same in RMB income in same RMB the period XXX was compared the million RMB RMB million XXX RMB of XXX was

earnings information, financial further For website. IR release please the our refer on to

total share of USD the X.X our million. a repurchase approximately XXX,XXX had total for of Since repurchased X.X aggregate USD XXX,XXX a consideration of ADS repurchased million. plan. approximately ADS Regarding consolidation In beginning an XXXX, of for we we QX,

We have potential approximately USD at X.X for million plan. our remaining repurchase current the

our on outlook. Now business

between expect and be XX and XX.X we year, to amount facilitated loan total For RMB the originated RMB billion billion. QX this

fiscal expect billion. and amount XXX.X XXX.X XXXX, loan a For total RMB and between to originated year RMB billion be we facilitated

the our please. Operator? Operator, concludes and to remarks, we'd This prepared call like to open questions.

[Operator time, this no At we Instructions] have questions.

[ return Yu back call Ms. the ] for Let's closing to Victoria remarks.

on us today. everyone, call the you, Thank for joining

questions, to to the them near in look with will If through raise pleased Thank chance haven't speaking answer forward we again be you you We follow-up got future. contacts. the to your you.

Thank concluded. for today's now you has Conference attending presentation.

may now disconnect. You

you. Thank