Welcome to our dedicated page for X Financial American Depositary Shares, each representing six news (Ticker: XYF), a resource for investors and traders seeking the latest updates and insights on X Financial American Depositary Shares, each representing six stock.
X Financial (NYSE: XYF) is a Cayman Islands-based technology-driven personal finance company headquartered in Shenzhen, China. Founded in 2014, X Financial provides a comprehensive suite of personal finance services, primarily targeting the Chinese market. The company operates an online marketplace that bridges borrowers and investors, offering a range of loan products and investment opportunities.
Core Business
At the heart of X Financial's operations is its Xiaoying Credit Loan mechanism, which includes the Xiaoying Card Loan, designed for credit card holders, and the Xiaoying Preferred Loan, aimed at small business owners. Additionally, the company offers the Xiaoying Housing Loan, a home equity loan product for property owners.
Through its Xiaoying Wealth Management platform, X Financial provides diversified investment products, including loans, money market investments, and insurance products. The platform aims to deliver competitive returns to its investors while maintaining a robust risk assessment and control system.
Financial Performance
In the recent quarters, X Financial has demonstrated robust financial performance. For instance, in the third quarter of 2023, the company reported a 56% year-over-year increase in total net revenue, reaching RMB1,397 million. The total loan amount facilitated and originated was RMB29 billion, a 49% increase year-over-year.
Partnerships and Technology
X Financial leverages proprietary big data-driven technology to enhance its loan facilitation services. The company has established strategic partnerships with numerous financial institutions, enabling it to offer loans to prime borrowers underpinned by a strong risk management framework.
Recent Developments
In 2023, X Financial expanded its share repurchase program and declared a special dividend, reflecting its commitment to returning value to shareholders. The company also announced several leadership changes to strengthen its executive team, ensuring sustained growth and operational efficiency.
Looking ahead, X Financial plans to continue its growth trajectory by focusing on enhancing shareholder value, tightening cost controls, and improving operational efficiency. The company remains committed to complying with regulatory requirements and maintaining high standards of financial consumer protection.
X Financial (NYSE: XYF) reported impressive second-quarter 2021 results, showing a total net revenue of RMB932.4 million (US$144.4 million), a remarkable increase of 140.4% year-over-year. The company achieved a net income attributable to shareholders of RMB223.2 million (US$34.6 million), recovering from a loss of RMB343.7 million in the same quarter last year. Loan facilitation reached RMB12.8 billion, a 108.6% increase from the previous year. With a solid outlook for Q3, X Financial expects loan facilitation between RMB14.5 billion and RMB15.5 billion, and net income above RMB230 million.
X Financial (NYSE: XYF) is set to release its unaudited financial results for the second quarter ended June 30, 2021, before U.S. markets open on August 10, 2021. An earnings conference call will follow at 7:00 AM U.S. Eastern Time. The company specializes in online personal finance, connecting borrowers with institutional funding partners through advanced big data technology.
X Financial (NYSE: XYF) reported strong financial performance for Q1 2021, with total net revenue surging by 71.3% to RMB906.3 million (US$138.3 million). The company posted a net income of RMB192.8 million (US$29.4 million), reversing a loss of RMB196.3 million from the previous year. Loan facilitation amounts reached a record RMB10.9 billion, up 59.1% year-over-year. Moreover, the firm received regulatory approval to establish Xiaoying Microcredit, expanding its service offerings. For Q2 2021, X Financial projects total loan facilitations between RMB12.4 billion and RMB13.0 billion.
X Financial (NYSE: XYF), a leading online personal finance company in China, will announce its unaudited financial results for Q1 2021 on June 16, 2021, before U.S. market opening. The earnings conference call is scheduled for 7:00 AM ET the same day, with dial-in details provided in the release. The company utilizes big data technology to connect borrowers with institutional funding partners, enhancing its risk assessment protocols.
X Financial (NYSE: XYF), a leading personal finance technology company in China, announced that its VIE, Shenzhen Xiaoying Technology Co., Ltd., received approval from the Local Financial Regulatory Bureau for its microcredit operations. The letter, dated May 12, 2021, allows Xiaoying Microcredit to start business registration. This makes it the first P2P entity in China to achieve a national online microcredit operating license, marking a significant step towards regulatory compliance and operational legitimacy.
X Financial (NYSE: XYF), a leading personal finance company in China, announced on May 24, 2021, that Shaoyong (Simon) Cheng has stepped down as President and has been appointed Vice Chairman of the Board. Kent Li, previously Chief Risk Officer, has been promoted to President. Cheng has been with the company since 2015, while Li joined the same year and has a strong background in risk management. The company aims to connect borrowers with institutional funding partners using its proprietary technology.
X Financial (NYSE: XYF), a prominent technology-driven personal finance company in China, announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on May 14, 2021. The report, which contains audited consolidated financial statements, is accessible on the Company’s investor relations website and the SEC's website. Shareholders can request a hard copy of the report free of charge. X Financial emphasizes its commitment to connecting borrowers with institutional funding partners through its proprietary technology.
X Financial (NYSE: XYF) reported its fourth quarter and fiscal year 2020 results, showing a 7.7% increase in net revenue to RMB716.3 million (US$109.8 million). However, the company experienced a substantial net loss of RMB655.5 million (US$100.5 million) compared to a profit of RMB79.7 million in Q4 2019. Fiscal year revenue fell 29.0% to RMB2,193.0 million (US$336.1 million), and losses from operations surged to RMB1,430.3 million (US$219.2 million). Despite these losses, loan facilitation showed signs of recovery, and management expects positive operational growth moving forward.
X Financial (NYSE: XYF) has announced a postponement of its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020, now scheduled for April 23, 2021. The management team will hold an earnings conference call on April 26, 2021, at 7:00 AM U.S. Eastern Time. The delay raises concerns among investors regarding the company's financial transparency and operational challenges. X Financial connects borrowers with institutional partners for loans, leveraging technology for risk assessment.
X Financial (NYSE: XYF) will announce its unaudited financial results for Q4 and FY 2020 on April 20, 2021, prior to U.S. market opening. A conference call will follow at 8:00 AM ET, where management will discuss the results. The company leverages technology to provide personal finance solutions in China, using its proprietary WinSAFE risk control system for borrower assessment. X Financial has partnered with ZhongAn Online P&C Insurance to enhance investor confidence and support its growth.
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