Yiren Digital Reports Second Quarter 2021 Financial Results

Rhea-AI Summary

Yiren Digital Ltd. (NYSE: YRD) reported strong second-quarter results for 2021, with total revenue increasing by 49% year-over-year to RMB1.1 billion (US$174.2 million). The wealth management sector contributed RMB286.8 million, albeit down 11% year-over-year, while credit business revenue surged 93.9% to RMB838.2 million. Active investors rose 25.5% to 385,536, and total client assets reached RMB14.7 billion, up 37% from the previous quarter. Net income was RMB200.1 million, contrasting with last year's loss. The company remains in a strong cash position with RMB2.2 billion as of June 30, 2021.

Positive

• Total revenue increased by 49% year-over-year to RMB1.1 billion.
• Net income of RMB200.1 million compared to a loss last year.
• Active investors grew by 25.5% to 385,536.
• Total client assets reached RMB14.7 billion, a 37% increase from the last quarter.

Negative

• Wealth management revenue decreased by 11% year-over-year.
• Sales volume of investment products fell by 8.2% from Q1 2021.

BEIJING, Aug. 19, 2021 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading digital personal financial management platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Operational Highlights

Wealth Management

• Cumulative number of investors served reached 2,538,656 as of June 30, 2021, representing an increase of 3.1% from 2,462,195 as of March 31, 2021 and compared to 2,223,250 as of June 30, 2020.
• Number of active investors^[1] was 385,536 as of June 30, 2021, representing an increase of 25.5% from 307,107 as of March 31, 2021, and compared to 102,658 as of June 30, 2020.
• Total client assets^[2] was RMB14,660.4 million (US$2,270.6 million) as of June 30, 2021, representing an increase of 37.3% from RMB10,678.9 million as of March 31, 2021, and compared to RMB2,628.8 million as of June 30, 2020.
• Sales volume of investment products amounted to RMB5,343.6 million (US$827.6 million) in the second quarter of 2021, representing a decrease of 8.2% from RMB5,823.1 million in the first quarter of 2021 and compared to RMB2,186.2 million in the same period of 2020.

Consumer Credit

• Total loans facilitated under loan facilitation model in the second quarter of 2021 reached RMB5.3 billion (US$0.8 billion), representing an increase of 6.5% from RMB4.9 billion in the first quarter of 2021 and compared to RMB1.5 billion in the second quarter of 2020.
• Cumulative number of borrowers served reached 5,558,085 as of June 30, 2021, representing an increase of 4.7% from 5,309,727 as of March 31, 2021 and compared to 4,917,635 as of June 30, 2020.
• Number of borrowers served in the second quarter of 2021 was 434,153 representing an increase of 25.5% from 345,939 in the first quarter of 2021 and compared to 107,568 in the second quarter of 2020.
• Outstanding balance of performing loans facilitated under loan facilitation model reached RMB12,543.7 million (US$1,942.8 million) as of June 30, 2021, representing an increase of 12.4% from RMB11,159.2 million as of March 31, 2021 and compared to RMB4,175.8 million as of June 30, 2020.

[1] Active investors refer to those who have made at least one investment through our wealth management platform or have had client assets with us above zero in the past twelve months. [2] Client assets refer to the outstanding balance of client assets generated through our platforms, where an asset is counted towards the outstanding balance for so long as it continues to be held by the investor who acquired it through our platform.

"We are pleased to deliver another solid quarter, with continued improvement in profitability and increasingly diversified revenue mix as we further navigate Yiren Digital to become a leading user-centric personal financial management platform," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "As we continue to strengthen our competitive edges and drive up our business scale, we have developed sophisticated strategies for different business lines."

"For wealth management, we are further differentiating ourselves by upgrading our services and enriching our product offerings as well as enhancing our capabilities to serve customers with higher investable assets. As of June 30, 2021, total client assets reached RMB14.7 billion, representing an increase of 37% from last quarter. Average client asset per investor further increased by 17% quarter-over-quarter to approximately RMB100,000, and the number of investors who held more than two asset classes on our Yiren Wealth platform grew by 420% from prior year, reflecting a concrete improvement in our customers' overall LTV. "

"For our credit business, we are focusing on high-quality growth and continue to take a proactive approach to transition our target borrower segment into higher-credit quality borrowers, paving the way for the launch of increasingly diversified products. Meanwhile, to echo government's focus on supporting small and micro businesses, starting from the second half of this year, we will further expand our SME segment to better promote inclusive finance."

"In the second quarter, total revenue increased by 49% year-on-year to RMB1.1 billion, of which 25% came from our wealth management business. Driven by enhanced cost control and operating efficiencies, total net income in the second quarter grew by 10% quarter-over-quarter, reflecting a healthy net income margin of 18%,"said Ms. Na Mei, Chief Financial Officer of Yiren Digital. "On the balance sheet side, our cash position remains strong with RMB2.2 billion of cash and cash equivalents as of June 30, 2021, which provides us with sufficient resilience to continue exploring new initiatives and new opportunities, and to meet any new capital requirement that may come."

Second Quarter 2021 Financial Results

Total net revenue in the second quarter of 2021 was RMB1,125.0 million (US$174.2 million), compared to RMB754.7 million in the same period last year. Revenue from wealth management business reached RMB286.8 million (US$44.4 million), representing a decrease of 11.0% from RMB322.4 million in the second quarter of 2020, primarily driven by the spin-off of our legacy business. Revenue from credit business reached RMB838.2 million (US$129.8 million), representing an increase of 93.9% from RMB432.3 million in the second quarter of 2020, primarily driven by an increase in loan volume.

Sales and marketing expenses in the second quarter of 2021 were RMB436.9 million (US$67.7 million), compared to RMB508.5 million in the same period last year. The decrease was primarily due to internal restructuring to optimize operating efficiencies.

Origination, servicing and other operating costs in the second quarter of 2021 were RMB182.7 million (US$28.3 million), compared to RMB165.2 million in the same period last year.

General and administrative expenses in the second quarter of 2021 were RMB127.7 million (US$19.8 million), compared to RMB172.6 million in the same period last year. The decrease was due to enhancement of operational efficiency.

Allowance for contract assets, receivables and others in the second quarter of 2021 was RMB93.4 million (US$14.5 million), compared to RMB168.7 million in the same period last year. The decrease was primarily due to the optimization of product mix, improved asset quality post pandemic as well as further enhancement in the Company's risk management framework.

Income tax expense in the second quarter of 2021 was RMB55.3 million (US$8.6 million).

Net income in the second quarter of 2021 was RMB200.1 million (US$31.0 million), as compared to a net loss of RMB232.2 million in the same period last year.

Adjusted EBITDA^[3] (non-GAAP) in the second quarter of 2021 was RMB295.4 million (US$45.8 million), compared to a loss of RMB269.4 million in the same period last year.

Basic income per ADS in the second quarter of 2021 was RMB2.4 (US$0.4), compared to a basic loss per ADS of RMB2.5 in the same period last year.

Diluted income per ADS in the second quarter of 2021 was RMB2.4 (US$0.4), compared to a diluted loss per ADS of RMB2.5 in the same period last year.

Net cash used in operating activities in the second quarter of 2021 was RMB213.0 million (US$33.0 million), compared to RMB64.7 million in the same period last year.

Net cash used in investing activities in the second quarter of 2021 was RMB208.5 million (US$32.3 million), compared to RMB186.7 million in the same period last year.

As of June 30, 2021, cash and cash equivalents was RMB2,192.5 million (US$339.6 million), compared to RMB2,362.3 million as of March 31, 2021. As of June 30, 2021, the balance of held-to-maturity investments was RMB2.2 million (US$0.3 million), compared to RMB3.1 million as of March 31, 2021. As of June 30, 2021, the balance of available-for-sale investments was RMB224.3 million (US$34.7 million), compared to RMB234.6 million as of March 31, 2021.

Delinquency rates. As of June 30, 2021, the delinquency rates for loans facilitated that are past due for 15-29 days, 30-59 days and 60-89 days were 0.5%, 0.8% and 0.7% respectively, compared to 0.5%, 0.8% and 0.6% respectively as of March 31, 2021.

Cumulative M3+ net charge-off rates. As of June 30, 2021, the cumulative M3+ net charge-off rate for loans facilitated in 2018, 2019 and 2020 was 9.9%, 10.5% and 3.7% respectively, as compared to 10.0%, 9.7% and 2.2% respectively as of March 31, 2021.

[3]  "Adjusted EBITDA" is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of "Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures" and the table captioned "Reconciliations of Adjusted EBITDA" set forth at the end of this press release.

Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See "Operating Highlights and Reconciliation of GAAP to Non-GAAP measures" at the end of this press release.

Board Composition Change

Mr. Quan Zhou will resign from the board, having fulfilled his term as a board member since January 2015, effective August 19, 2021.

"On behalf of Yiren Digital's Board of Directors, I would like to express my gratitude to Mr. Quan Zhou for his time, dedication and valuable contribution to the Company," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital.

Currency Conversion

This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB6.4566 to US$1.00, the effective noon buying rate on June 30, 2021, as set forth in the H.10 statistical release of the Federal Reserve Board.

Conference Call

Yiren Digital's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on August 19, 2021 (or 8:00 p.m. Beijing/Hong Kong Time on August 19, 2021).

Participants who wish to join the call should register online in advance of the conference at: 

https://apac.directeventreg.com/registration/event/9992662

Please note the Conference ID number of 9992662.

Once registration is completed, participants will receive the dial-in information for the conference call, an event passcode, and a unique registrant ID number. 

Participants joining the conference call should dial-in at least 10 minutes before the scheduled start time.

A replay of the conference call may be accessed by phone at the following numbers until August 27, 2021:

International	+61 2-9003-4211
U.S.	+1 646-254-3697
Replay Access Code:	9992662

Additionally, a live and archived webcast of the conference call will be available at ir.yirendai.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yiren Digital's control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to Yiren Digital's ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in Yiren Digital's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Yiren Digital does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About Yiren Digital

Yiren Digital Ltd. is a leading digital personal financial management platform in China. The Company provides customized asset allocation services and wealth management solutions to China's mass affluent population as well as utilizes online and offline channels to provide retail credit facilitation services to individual borrowers and small business owners.

 

 

 

Unaudited Condensed Consolidated Statements of Operations
(in thousands, except for share, per share and per ADS data, and percentages)
	For the Three Months Ended									For the Six Months Ended
	June 30, 2020		March 31, 2021		June 30, 2021		June 30, 2021			June 30, 2020		June 30, 2021		June 30, 2021
	RMB		RMB		RMB		USD			RMB		RMB		USD
Net revenue:
Loan facilitation services	171,084		542,132		551,373		85,397			529,625		1,093,505		169,362
Post-origination services	126,477		44,786		40,584		6,286			272,997		85,370		13,222
Account management services	300,720		-		-		-			713,886		-		-
Insurance brokerage services	19,545		159,704		151,801		23,511			19,545		311,505		48,246
Financing services	1,586		114,932		125,267		19,401			2,236		240,199		37,202
Others	135,277		238,409		256,010		39,651			240,060		494,419		76,576
Total net revenue	754,689		1,099,963		1,125,035		174,246			1,778,349		2,224,998		344,608
Operating costs and expenses:
Sales and marketing	508,466		405,176		436,882		67,663			1,124,907		842,058		130,418
Origination,servicing and other operating   costs	165,183		174,525		182,667		28,292			268,101		357,192		55,322
General and administrative	172,568		119,865		127,690		19,777			321,609		247,555		38,341
Allowance for contract assets, receivables   and others	168,708		141,232		93,433		14,471			312,093		234,665		36,345
Total operating costs and expenses	1,014,925		840,798		840,672		130,203			2,026,710		1,681,470		260,426
Other income/(expenses):
Interest income/(expense), net	16,950		(10,980)		(22,782)		(3,529)			42,066		(33,762)		(5,229)
Fair value adjustments related to   Consolidated ABFE	(32,957)		(27,720)		(20,916)		(3,239)			(58,977)		(48,636)		(7,533)
Others, net	(3,510)		5,122		14,674		2,273			8,674		19,796		3,066
Total other expenses	(19,517)		(33,578)		(29,024)		(4,495)			(8,237)		(62,602)		(9,696)
(Loss)/income before provision for income taxes	(279,753)		225,587		255,339		39,548			(256,598)		480,926		74,486
Income tax (benefit)/expense	(47,558)		44,373		55,259		8,559			(43,622)		99,632		15,431
Net (loss)/income	(232,195)		181,214		200,080		30,989			(212,976)		381,294		59,055
Weighted average number of ordinary shares outstanding, basic	185,613,735		167,966,603		167,974,463		167,974,463			185,607,348		167,970,515		167,970,515
Basic (loss)/income per share	(1.2510)		1.0789		1.1911		0.1845			(1.1475)		2.2700		0.3516
Basic (loss)/income per ADS	(2.5020)		2.1578		2.3822		0.3690			(2.2950)		4.5400		0.7032
Weighted average number of ordinary shares outstanding, diluted	185,613,735		169,147,563		169,173,603		169,173,603			185,607,348		169,160,565		169,160,565
Diluted (loss)/income per share	(1.2510)		1.0713		1.1827		0.1832			(1.1475)		2.2540		0.3491
Diluted (loss)/income per ADS	(2.5020)		2.1426		2.3654		0.3664			(2.2950)		4.5080		0.6982
Unaudited Condensed Consolidated Cash Flow Data
Net cash (used in)/generated from operating activities	(64,721)		(142,011)		(212,993)		(32,988)			497,999		(355,004)		(54,984)
Net cash used in investing activities	(186,670)		(286,056)		(208,539)		(32,299)			(716,107)		(494,595)		(76,603)
Net cash provided by/(used in) financing activities	39,905		279,400		144,107		22,319			(25,732)		423,507		65,593
Effect of foreign exchange rate changes	(86)		(118)		(278)		(43)			1,120		(396)		(61)
Net decrease in cash, cash equivalents and restricted cash	(211,572)		(148,785)		(277,703)		(43,011)			(242,720)		(426,488)		(66,055)
Cash, cash equivalents and restricted cash, beginning of period	3,237,994		2,707,148		2,558,363		396,240			3,269,142		2,707,148		419,284
Cash, cash equivalents and restricted cash, end of period	3,026,422		2,558,363		2,280,660		353,229			3,026,422		2,280,660		353,229

 

 

 

Unaudited Condensed Consolidated Balance Sheets
(in thousands)
	As of
	December 31, 2020		March 31, 2021		June 30, 2021		June 30, 2021
	RMB		RMB		RMB		USD
Cash and cash equivalents	2,469,909		2,362,310		2,192,500		339,575
Restricted cash	237,239		196,053		88,160		13,654
Accounts receivable	122,742		148,114		228,554		35,399
Contract assets, net	750,174		917,995		1,063,470		164,711
Contract cost	65,529		62,061		44,684		6,921
Prepaid expenses and other assets	278,591		215,099		213,942		33,135
Loans at fair value	192,156		175,664		112,931		17,491
Financing receivables	1,253,494		1,471,509		1,738,742		269,297
Amounts due from related parties	884,006		911,972		1,064,703		164,901
Held-to-maturity investments	3,286		3,137		2,233		346
Available-for-sale investments	175,515		234,587		224,336		34,745
Property, equipment and software, net	147,193		134,351		123,491		19,126
Deferred tax assets	16,745		13,906		8,629		1,336
Right-of-use assets	105,674		98,467		93,783		14,525
Total assets	6,702,253		6,945,225		7,200,158		1,115,162
Accounts payable	9,903		12,923		64,469		9,985
Amounts due to related parties	970,309		769,744		498,053		77,138
Deferred revenue	50,899		44,408		21,137		3,274
Payable to investors at fair value	52,623		52,082		51,289		7,944
Accrued expenses and other liabilities	1,208,915		1,148,549		1,238,591		191,833
Secured borrowings	500,500		799,200		968,600		150,017
Refund liability	10,845		7,404		6,412		993
Deferred tax liabilities	38,741		76,003		118,654		18,377
Lease liabilities	81,854		76,735		70,114		10,859
Total liabilities	2,924,589		2,987,048		3,037,319		470,420
Ordinary shares	121		121		122		19
Additional paid-in capital	5,058,176		5,058,884		5,065,177		784,496
Treasury stock	(40,147)		(40,147)		(40,147)		(6,218)
Accumulated other comprehensive income	17,108		16,648		16,139		2,500
Accumulated deficit	(1,257,594)		(1,077,329)		(878,452)		(136,055)
Total equity	3,777,664		3,958,177		4,162,839		644,742
Total liabilities and equity	6,702,253		6,945,225		7,200,158		1,115,162

 

 

 

Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except for number of  borrowers, number of investors and percentages)
	For the Three Months Ended									For the Six Months Ended
	June 30, 2020		March 31, 2021		June 30, 2021		June 30, 2021			June 30, 2020		June 30, 2021		June 30, 2021
	RMB		RMB		RMB		USD			RMB		RMB		USD
Operating Highlights
Amount of investment in current investment products	2,186,210		5,823,057		5,343,601		827,618			4,349,523		11,166,657		1,729,495
Number of investors in current investment products	30,392		110,072		120,091		120,091			30,142		203,472		203,472
Amount of loans facilitated under loan facilitation model	1,522,646		4,930,287		5,252,859		813,564			2,263,914		10,183,146		1,577,168
Amount of loans facilitated	2,402,494		4,930,287		5,252,859		813,564			4,241,948		10,183,146		1,577,168
Number of borrowers	107,568		345,939		434,153		434,153			220,731		646,486		646,486
Remaining principal of performing loans facilitated under loan facilitation model	4,175,751		11,159,179		12,543,745		1,942,779			4,175,751		12,543,745		1,942,779
Segment Information
Wealth management:
Revenue	322,381		263,743		286,839		44,426			738,257		550,582		85,274
Sales and marketing expenses	45,454		38,987		29,044		4,498			112,780		68,031		10,537
Origination,servicing and other operating costs	39,648		132,510		150,505		23,311			70,493		283,015		43,833
Consumer credit:
Revenue	432,308		836,220		838,196		129,820			1,040,092		1,674,416		259,334
Sales and marketing expenses	463,012		366,189		407,838		63,165			1,012,127		774,027		119,881
Origination,servicing and other operating costs	125,535		42,015		32,162		4,981			197,608		74,177		11,489
Reconciliation of Adjusted EBITDA
Net (loss)/income	(232,195)		181,214		200,080		30,989			(212,976)		381,294		59,055
Interest (income)/expense, net	(16,950)		10,980		22,782		3,529			(42,066)		33,762		5,229
Income tax (benefit)/expense	(47,558)		44,373		55,259		8,559			(43,622)		99,632		15,431
Depreciation and amortization	24,368		15,151		12,170		1,885			51,539		27,321		4,232
Share-based compensation	2,954		(240)		5,090		788			7,495		4,850		751
Adjusted EBITDA	(269,381)		251,478		295,381		45,750			(239,630)		546,859		84,698
Adjusted EBITDA margin	-35.7%		22.9%		26.3%		26.3%			-13.5%		24.6%		24.6%

 

 

 

Delinquency Rates (Loan Facilitation Model)
		15-29 days		30-59 days		60-89 days
All Loans
December 31, 2015		1.3%		1.9%		1.5%
December 31, 2016		0.6%		0.8%		0.7%
December 31, 2017		0.5%		0.8%		0.6%
December 31, 2018		1.0%		1.8%		1.7%
December 31, 2019		0.8%		1.3%		1.0%
December 31, 2020		0.5%		0.7%		0.6%
March 31, 2021		0.5%		0.8%		0.6%
June 30, 2021		0.5%		0.8%		0.7%
Online Channels
December 31, 2015		0.4%		0.7%		0.5%
December 31, 2016		0.8%		1.1%		1.7%
December 31, 2017		0.3%		0.2%		0.0%
December 31, 2018		0.9%		1.7%		1.5%
December 31, 2019		1.0%		2.1%		1.6%
December 31, 2020		0.6%		1.0%		1.1%
March 31, 2021		0.5%		0.9%		0.7%
June 30, 2021		0.7%		0.9%		0.8%
Offline Channels
December 31, 2015		1.3%		2.0%		1.6%
December 31, 2016		0.6%		0.8%		0.7%
December 31, 2017		0.5%		0.9%		0.7%
December 31, 2018		1.1%		1.9%		1.8%
December 31, 2019		0.7%		0.9%		0.7%
December 31, 2020		0.4%		0.6%		0.4%
March 31, 2021		0.4%		0.7%		0.6%
June 30, 2021		0.4%		0.7%		0.6%

 

 

 

Net Charge-Off Rate (Loan Facilitation Model)
Loan Issued Period		Amount of Loans Facilitated During the Period		Accumulated M3+ Net Charge-Off as of June 30, 2021		Total Net Charge-Off Rate as of June 30, 2021
		(in RMB thousands)		(in RMB thousands)
2015		4,530,824		250,850		5.5%
2016		3,749,815		319,425		8.5%
2017		5,043,494		527,583		10.5%
2018		4,211,573		415,948		9.9%
2019		3,431,443		359,282		10.5%
2020		9,614,819		352,935		3.7%
2021Q1		4,930,287		23,045		0.5%

 

 

M3+ Net Charge-Off Rate (Loan Facilitation Model)
Loan Issued Period		Month on Book
		4	7	10	13	16	19	22	25	28	31	34
2015Q1		1.0%	1.9%	2.8%	3.7%	4.3%	4.8%	5.1%	5.3%	5.3%	5.3%	5.2%
2015Q2		1.1%	2.8%	4.2%	5.3%	6.2%	6.7%	7.0%	7.0%	6.9%	6.8%	6.8%
2015Q3		0.6%	2.2%	3.8%	5.0%	5.9%	6.5%	6.7%	6.8%	6.7%	6.7%	6.7%
2015Q4		1.0%	1.5%	2.2%	2.8%	3.1%	3.4%	3.7%	4.0%	4.2%	4.4%	4.4%
2016Q1		0.6%	0.9%	1.3%	1.7%	2.0%	2.2%	2.4%	2.7%	2.9%	3.0%	3.2%
2016Q2		0.6%	1.4%	2.3%	3.0%	3.6%	4.2%	4.8%	5.4%	5.8%	6.0%	6.2%
2016Q3		0.4%	1.7%	2.7%	4.1%	5.3%	6.5%	7.7%	8.6%	9.3%	9.3%	9.5%
2016Q4		0.3%	2.1%	3.8%	5.4%	7.2%	9.2%	10.4%	11.5%	12.4%	12.9%	13.3%
2017Q1		0.3%	1.6%	3.4%	5.3%	7.5%	8.9%	10.0%	10.9%	11.6%	12.1%	12.3%
2017Q2		4.1%	5.8%	7.9%	9.6%	11.3%	12.5%	13.2%	13.9%	14.6%	14.9%	15.1%
2017Q3		0.3%	1.6%	3.5%	4.9%	6.5%	7.6%	8.4%	8.9%	9.4%	9.9%	10.1%
2017Q4		0.2%	2.3%	5.1%	6.5%	7.9%	9.0%	9.7%	10.2%	10.7%	11.2%	10.6%
2018Q1		0.2%	2.9%	5.1%	6.8%	7.2%	7.9%	8.4%	8.7%	9.0%	8.6%	8.1%
2018Q2		0.7%	4.1%	7.1%	9.4%	11.2%	12.4%	13.4%	14.1%	14.3%	14.1%	14.1%
2018Q3		0.2%	2.8%	3.6%	4.5%	5.2%	6.4%	7.0%	7.0%	6.9%	7.0%
2018Q4		0.6%	2.2%	3.4%	5.2%	6.9%	9.0%	9.7%	9.9%	9.6%
2019Q1		0.0%	0.8%	2.0%	3.4%	5.3%	5.9%	6.3%	6.3%
2019Q2		0.1%	1.5%	4.5%	7.5%	8.8%	9.2%	9.9%
2019Q3		0.2%	2.9%	6.8%	9.0%	10.4%	12.0%
2019Q4		0.4%	3.1%	4.9%	6.3%	7.2%
2020Q1		0.6%	2.3%	4.1%	5.2%
2020Q2		0.5%	2.5%	4.2%
2020Q3		1.1%	3.3%
2020Q4		0.3%

 

 

View original content:https://www.prnewswire.com/news-releases/yiren-digital-reports-second-quarter-2021-financial-results-301358808.html

SOURCE Yiren Digital

FAQ

What were Yiren Digital's Q2 2021 financial results?

Yiren Digital reported total revenue of RMB1.1 billion, a 49% increase year-over-year, with net income reaching RMB200.1 million.

How many active investors does Yiren Digital have as of Q2 2021?

Yiren Digital has 385,536 active investors as of June 30, 2021, representing a 25.5% increase from the previous quarter.

What is the revenue breakdown for Yiren Digital's Q2 2021?

Revenue for Q2 2021 included RMB286.8 million from wealth management and RMB838.2 million from credit services.

What is the current cash position of Yiren Digital?

As of June 30, 2021, Yiren Digital's cash position is RMB2.2 billion.

What trends are evident from Yiren Digital's investment product sales in Q2 2021?

Sales volume of investment products decreased by 8.2% from Q1 2021.