X Financial American Depositary Shares, each representing six - XYF STOCK NEWS

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.

X Financial (NYSE: XYF) announced a commitment to invest US$10 million in Dragonfly Ventures II, L.P. for blockchain investment opportunities. Dragonfly is known for its long-term value investment strategy in the blockchain space, having invested in leading platforms like Maker and Compound. This investment aligns with X Financial's strategy to explore innovative technologies and enhance profitability over time. X Financial is a leading personal finance company in China, leveraging technology to provide efficient financial services.

X Financial (NYSE: XYF) announced that it has regained compliance with the NYSE's minimum share price requirement of $1.00. This follows a notification received on April 28, 2020, indicating non-compliance due to the average closing price falling below the threshold. To rectify this, X Financial changed the ADS ratio from 1:2 to 1:6, effective November 19, 2020. The NYSE confirmed on December 2, 2020, that the average closing share price exceeded the minimum requirement for the 30 trading days ending November 30, 2020.

X Financial (NYSE: XYF) reported its third quarter 2020 results with total net revenue of RMB559.8 million (US$82.5 million), down 34.5% year-over-year but up 44.3% quarter-over-quarter. The company faced a net loss of RMB113.0 million (US$16.6 million), a significant decline from a profit in the same period last year. Loan facilitation amount decreased 25.3% year-over-year, although it rose 30.4% from the previous quarter. Delinquency rates improved, indicating better credit management. Ongoing regulatory changes create uncertainty for the future.