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| Statement |
|---|
| We are pleased to see that our established strategy continued to deliver strong results in the third quarter |
| Our loan facilitation and origination amount reached the high end of our previous guidance, and both our top line and bottom line showed a substantial year-over-year improvement |
| We are very pleased with our solid financial results in the third quarter |
| Going forward, we will continue to execute our proven strategy and enhance our ability to drive long-term growth and returns for our shareholders |
| We will maintain healthy asset quality, leveraging our cutting-edge risk management system and focusing more on asset quality than on expanding the borrower base |
| Total net revenue increased by 56% year-over-year and 14.5% quarter-over-quarter to RMB1,397 million |
| We remain dedicated to achieving balanced growth in revenue and earnings in the long term, which is clearly a key driver of shareholder value |
| Total net revenue increased by 56% to RMB1,397 million from RMB895 million in the same period 2022, primarily due to an increase in the total loan amount facilitated and originated this quarter compared with the same period of 2022 |
| During the third quarter, our total loan amount facilitated and originated increased by 49% year-over-year and 14% quarter-over-quarter to RMB29 billion |
| To achieve this goal, we will take a comprehensive consideration of the borrower acquisition cost and risk control based on a close monitoring of market dynamics to ensure that we grow both our revenue scale and profits in a sustainable manner |
| While our net income saw a remarkable 64% year-over-year increase to RMB347 million, there was a slight decline quarter-over-quarter |
| We have enhanced our efforts to acquire more quality borrowers, but we expect the delinquency rates to continue to fluctuate for some time |
| Hello, everyone, and thank you for joining us today |
| As a result, our unit borrower acquisition cost increased quarter-over-quarter |
| Origination and service expenses increased by 50% to RMB811 million from RMB540.5 million in the same period of 2022, primarily due to the increase in borrowing acquisition cost and the collection expenses resulting from the increase in total loan amount facilitated and originated this quarter compared with the same period of 2022 |
| Thank you |
| During the quarter, as macroeconomic conditions improved moderately and the regulatory environment stabilized, the personal finance business has returned to normal across the industry, resulting in increased competition |
| Statement |
|---|
| This decrease was primarily attributed to the rising cost of borrowing acquisition and management asset quality risks |
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