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Jiayin Group Inc. (JFIN) is a prominent technology service group based in China, dedicated to leveraging cutting-edge technologies to bridge the gap between consumers and financial institutions. Since its inception, Jiayin Group has been at the forefront of technological innovation, embedding it into the core of their operations. The company employs big data, cloud computing, artificial intelligence, and other advanced technologies to ensure that users have access to efficient and convenient services.
Jiayin Group focuses on a dual strategy of digital and technological advancement. They are committed to building a robust cloud service platform and an intelligent risk control system, driven by big data. This approach not only enhances their service offerings but also ensures scalability and reliability in connecting users with financial products and services.
In recent achievements, Jiayin Group has shown significant progress in their business operations and financial performance. The company's third-quarter 2023 financial results showcased a strong business outlook, backed by strategic partnerships and a growing customer base. Key highlights include substantial increases in loan facilitation volumes and a high repeat borrowing rate, indicating strong customer loyalty and satisfaction.
The company continues to innovate and expand its service offerings, ensuring that each consumer enjoys seamless and secure access to financial services. Through continuous technological advancements and strategic collaborations, Jiayin Group Inc. remains a significant player in the tech-driven financial services sector in China.
Jiayin Group (NASDAQ: JFIN) announced its decision to sell its 100% equity interest in Fuzhou Zhuoqun Jieneng Information Technology Co., Ltd. and its subsidiary for an aggregate of RMB395 million. The agreement, signed on April 4, 2023, outlines the transfer of ownership to Shenzhen Rongxinbao Non-Financial Guarantee Co., Ltd. The sale is structured whereby approximately RMB316.2 million will offset existing payables owed by Jiayin to Fujian Zhuoqun, and RMB78.7 million will address payables relating to a previous transaction. The final settlement will be determined by both parties. The closing is contingent upon standard due diligence processes. Upon completion, Jiayin Finance will no longer hold any interest in Fujian Zhuoqun.
Jiayin Group Inc. (NASDAQ: JFIN) reported exceptional growth for Q4 and FY 2022, with total loan origination volume increasing by 249.2% to RMB18.9 billion and net income surging by 335.7% to RMB533.7 million. For the full year, revenue reached RMB3,271.4 million, up 83.7%, while net income grew by 152.3% to RMB1,180.2 million. The company’s focus on technology and partnerships has driven this performance. Looking ahead, Jiayin expects loan facilitation volumes of RMB70 billion for 2023, with a dividend policy established for future cash distributions.
Jiayin Group Inc. (NASDAQ: JFIN), a leading fintech platform in China, has announced that it will release its unaudited financial results for the fourth quarter and full year 2022 before U.S. markets open on March 29, 2023. A conference call is scheduled for the same day at 8:00 AM Eastern Time, where the company's performance will be discussed. Investors are encouraged to register in advance for the call and can access the live or archived webcast on the company's investor relations website.
Bright Scholar Education Holdings Limited (NYSE: BEDU) announced significant management changes on February 22, 2023. Meng Rui has been appointed as an independent director and chairman of the audit committee, qualifying as an audit committee financial expert. Concurrently, Wanmei Li has resigned as Co-CEO for personal reasons, with Hongru Zhou taking the CEO role. Zi Chen is now the president, while Ruolei Niu is appointed as the new CFO, succeeding Dongmei Li, who transitions to senior management counsel. These changes aim to enhance governance and operational leadership at Bright Scholar.
Jiayin Group Inc. (NASDAQ: JFIN) reported a significant 123.5% growth in total loan origination volume, reaching RMB14.9 billion (US$2.1 billion) in Q3 2022. Net income surged 98.8% to RMB248.1 million (US$34.9 million), with net revenue increasing 55.0% to RMB894.3 million (US$125.7 million). The average borrowing amount rose 58.1% year-over-year. Despite operational growth, the repeat borrowing rate declined to 63.8% from 69.1%. The company also initiated a US$10 million share repurchase plan, with approximately US$2.1 million used as of September 30, 2022.
Jiayin Group Inc. (NASDAQ: JFIN) announced the release of its third quarter 2022 financial results, scheduled for November 23, 2022, before U.S. market opening. A conference call will follow at 8:00 AM ET on the same day. Investors can register for the call via the company's investor relations website. Jiayin operates a fintech platform focused on connecting underserved borrowers with financial institutions, employing advanced analytics for risk assessment. For further information, visit Jiayin's website.
Jiayin Group (NASDAQ: JFIN) reported a robust second quarter performance for 2022, highlighting a significant 138.4% increase in loan origination volume to RMB13.5 billion (US$2.0 billion). Net income surged by 100.2% to RMB253.8 million (US$37.9 million), with net revenue rising 64.9% to RMB811.6 million (US$121.2 million).
Operational improvements included a 49.4% increase in average borrowing amounts and a stable repeat borrowing rate at 67.8%. The company also initiated a US$10 million share repurchase plan, showing confidence in its financial standing.
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