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51Talk Online Education Group (NYSE: COE), a global online education platform specializing in English education, announced changes to its board composition. Effective June 1, 2024, Mr. Jimmy Lai will join as an independent director and take on multiple roles within the board's committees. Mr. Lai previously served as 51Talk's CFO from 2015 to 2018 and has significant experience in various financial roles across multiple companies. Concurrently, Mr. Shengwen (Roy) Rong has resigned for personal reasons, effective May 31, 2024. The transition is amicable with no disputes or disagreements. CEO Jack Jiajia Huang expressed gratitude towards Mr. Rong and welcomed Mr. Lai's return.
FinVolution Group (NYSE: FINV) reported its Q1 2024 financial results, noting a 10.3% YoY increase in China transaction volume to RMB46.1 billion and a 40.8% YoY increase in international transaction volume to RMB2.21 billion. International revenues rose 32.9% YoY to RMB594.8 million, representing 18.8% of total net revenues. The company saw a net revenue of RMB3,165.1 million, a 3.8% increase, but net profits dropped to RMB532.0 million from RMB689.8 million YoY. Despite this, FinVolution's international markets demonstrated significant growth, while challenges persist in domestic operations, including an increased 90+ day delinquency ratio. The company reiterated its full-year 2024 transaction volume guidance of RMB195.7-205.0 billion for China and RMB9.4-11.0 billion for international markets.
FinVolution Group, a leading fintech platform, will report its first quarter 2024 financial results on May 15, 2024, with an earnings conference call scheduled at 8:30 p.m. ET. Dial-in details are provided for participants to join the call, and a webcast will be available on the Company's investor relations website. A replay will also be accessible after the live call.