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

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.

X Financial (NYSE: XYF), a leading technology-driven personal finance company in China, will report its unaudited financial results for Q3 2020 on December 2, 2020, before U.S. market opening. A conference call will be held at 7:00 AM ET the same day, providing investors an opportunity to discuss the results. The Company is focused on addressing the credit demand in China through its proprietary risk control system, WinSAFE, and has partnered with ZhongAn Online P&C Insurance Co., Ltd. to enhance its credit assessment capabilities.

X Financial (NYSE: XYF) announced a change in the ratio of its American depositary shares (ADSs) from 1 ADS representing 2 Class A shares to 1 ADS representing 6 Class A shares. This change, effective on November 19, 2020, is akin to a one-for-three reverse ADS split for holders. The price of ADSs is expected to increase proportionately, though no guarantees are made. The company continues to leverage technology in personal finance and has established strategic partnerships to enhance its risk management capabilities.

X Financial (NYSE: XYF), a leading personal finance technology company in China, will hold its 2020 annual general meeting on December 11, 2020, at 10:00 a.m. Beijing Time, at its Shenzhen offices. No shareholder proposals will be discussed; instead, the meeting will serve as an open forum for shareholders and ADS holders to converse with management. The record date for determining eligible shareholders is set for November 16, 2020. The company has filed its annual report for the fiscal year ended December 31, 2019, accessible via its investor relations website.

X Financial (NYSE: XYF) reported a significant decline in its Q2 2020 financial results. Total net revenue fell by 51.0% to RMB387.9 million (US$54.9 million) due to decreased transaction volumes amid stringent risk policies. The company recorded a loss from operations of RMB341.5 million (US$48.3 million), a sharp contrast to the previous year's profit. The net loss attributable to shareholders reached RMB343.7 million (US$48.6 million). Despite challenges, active borrowers increased by 46.1% quarter-over-quarter, and the company forecasts over 20% growth in loan facilitation for Q3.

X Financial (NYSE: XYF) has appointed Frank Fuya Zheng as its new Chief Financial Officer, effective August 24, 2020, following the resignation of Kevin Jie Zhang. Mr. Zheng brings over 15 years of experience in corporate finance and investment management, previously serving as CFO at Cogo Group and holding various directorial positions. This leadership change comes as the company continues to leverage technology in personal finance, enhancing its risk assessment capabilities through partnerships and proprietary systems, targeting the growing credit demand in China.

X Financial (NYSE: XYF), a leading technology-driven personal finance company in China, will release its unaudited financial results for Q2 2020 on August 21, 2020, before U.S. markets open. An earnings conference call will follow at 8:00 AM ET on the same day, with dial-in details provided for various regions. The company utilizes a proprietary big data-driven risk control system and has partnered with ZhongAn Online P&C Insurance Co., Ltd. to enhance its credit assessment capabilities. For more information, visit X Financial's website.

X Financial (NYSE: XYF) reported a 31.9% decrease in net revenues to RMB529.0 million (US$74.5 million) for Q1 2020, largely due to a decline in transaction volumes amid stricter risk policies related to COVID-19. The company experienced a loss from operations of RMB130.0 million (US$18.3 million), compared to a profit in Q1 2019. Net loss attributable to shareholders was RMB196.3 million (US$27.7 million) versus a profit last year. Despite challenges, institutional funding contributions rose to 81.7% of total loans facilitated.