Le Lézard
Classified in: Science and technology, Business, Covid-19 virus
Subjects: ERN, CCA

Yiren Digital Reports Second Quarter 2020 Financial Results


BEIJING, Aug. 27, 2020 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company in China, today announced its unaudited financial results for the second quarter ended June 30, 2020.

Second Quarter 2020 Operational Highlights

Wealth Management?Yiren Wealth

Consumer Credit?Yiren Credit

"With the pandemic still not far behind us and the changing market environment in the second quarter, we are making comprehensive progresses towards our business transition in our credit-tech business and have achieved meaningful scale in our wealth management business growth," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital.

"For our credit-tech business, our new online product initiatives are tracking very well. Our new revolving loan product, Yi Xiang Hua, accounted for 13% of our total loan volume this quarter, growing over 500% quarter over quarter. Meanwhile, by leveraging our vast offline service network coverage, we are ramping up auto loans nicely, achieving a 51% growth from last quarter. Moreover, we have made great strides in repositioning our credit business by moving from a P2P funding model to a loan facilitation model. In the second quarter, 63% of loans facilitated were funded by institutional intuitional partners and we expect this proportion to reach close to 100% by the end of this year with a diversified partner base."

"On wealth management business, we are seeing very strong growth momentum particularly for our fund products. As of June 30, 2020, the number of current non-P2P investors increased 20% from last quarter to 31,530, and total AUA for non-P2P products increased by 48% quarterly to RMB 2.5 billion. Moreover, average AUA per investor for non-P2P products also sees steady growth, with average AUA per investor for bank's fixed-income products exceeding RMB 100,000 and for funds over RMB 50,000, which is well above industry average"

"We are delighted to see a notable acceleration in loan originations from prior quarter to RMB 2.4 billion, thanks to our strategic initiatives this year in diversification of our loan products," said Mr. Zhong Bi, Chief Financial Officer of Yiren Digital. "To provide relief to our borrowers who were significantly affected by the pandemic as well as medical workers who fought on the frontlines, we proactively granted a concession totaling RMB 245 million for over 50,000 borrowers in principal, interest and late fees, this represents a one-time hit to our revenue. On the balance sheet side, our cash position remains strong with approximately RMB 3.4 billion of cash and short-term investments as of June 30, 2020. "

"Thanks to our continued efforts in risk management, the delinquency rates have shown a progressive improving trend. 15-90 days delinquency has decreased to 5.5% as of June 30, 2020 from 8.9% as of March 31, 2020. 15-90 days delinquency further decreased to 5.2% as of July 31, 2020 as a result of our strengthened efforts in tightening controls and improving borrower's credit quality." said Mr. Michael Ji, Chief Risk Officer of Yiren Digital. "To mitigate the risk caused by covid-19 and help customers went through the financial hardship, we have launched 7 relating special collection projects in the second quarter, including continued 'pandemic customer care program', which offered payment relief for the customers who were hit by covid-19 and healthcare givers who were fighting the disease. These special collection projects helped us achieve a decline in NCL by over 10% as compared with projection at the beginning of the year, even facing the economic headwind. We will continue to strengthen our risk management and expect delinquency rates to further improve in the second half of the year.

Second Quarter 2020 Financial Results

Total amount of loans facilitated in the second quarter of 2020 was RMB 2,402.5 million (US$340.1 million), compared to RMB 9,673.8 million in the same period last year. As of June 30, 2020, the total outstanding principal amount of the performing loans was RMB 33.5 billion (US$4.7 billion), decreased by 20% from RMB 42.1 billion as of March 31, 2020.

Total net revenue in the second quarter of 2020 was RMB 754.7 million (US$106.8 million), compared to RMB 2,216.6 million in the same period last year. Revenue from Yiren Credit reached RMB 432.3 million (US$61.2 million), representing a decrease of 73% from RMB 1,624.3 million in the second quarter of 2019. Revenue from Yiren Wealth reached RMB 322.4 million (US$45.6 million), representing a decrease of 46% from RMB 592.4 million in the second quarter of 2019.

Sales and marketing expenses in the second quarter of 2020 were RMB 508.5 million (US$72.0 million), compared to RMB 1,208.6 million in the same period last year. Sales and marketing expenses in the second quarter of 2020 accounted for 21.2% of the total amount of loans facilitated, as compared to 12.5% in the same period last year mainly due to the decline of loan volume.

Origination and servicing costs in the second quarter of 2020 were RMB 165.2 million (US$23.4 million), compared to RMB 162.9 million in the same period last year. Origination and servicing costs in the second quarter of 2020 accounted for 6.9% of the total amount of loans facilitated, compared to 1.7% in the same period last year due to the decline of loan volume.

General and administrative expenses in the second quarter of 2020 were RMB 172.6 million (US$24.4 million), compared to RMB 175.5 million in the same period last year. General and administrative expenses in the second quarter of 2020 accounted for 22.9% of the total net revenue, compared to 7.9% in the same period last year.

Allowance for contract assets and receivables in the second quarter of 2020 were RMB 168.7 million (US$23.9 million), compared to RMB 500.9 million in the same period last year.

Income tax benefit in the second quarter of 2020 was RMB 47.6 million (US$6.7 million).

Net loss in the second quarter of 2020 was RMB 232.2 million (US$32.9 million), compared to net income of RMB 154.5 million in the same period last year. 

Adjusted EBITDA (non-GAAP) in the second quarter of 2020 was net loss of RMB 269.4 million (US$38.1 million), compared to net income of RMB 239.9 million in the same period last year.

Basic income per ADS in the second quarter of 2020 was net loss of RMB 2.5 (US$0.4), compared to a basic income per ADS of RMB 1.7 in the same period last year.

Diluted income per ADS in the second quarter of 2020 was net loss of RMB 2.5 (US$0.4), compared to a diluted income per ADS of RMB 1.7 in the same period last year.

Net cash used in operating activities in the second quarter of 2020 was RMB 86.8 million (US$12.3 million), compared to net cash generated from operating activities of RMB 36.4 million in the same period last year.

Net cash used in investing activities in the second quarter of 2020 was RMB 164.6 million (US$23.3 million), compared to net cash provided by investing activities of RMB 240.9 million in the same period last year.

As of June 30, 2020, cash and cash equivalents was RMB 2,935.5 million (US$415.5 million), compared to RMB 3,195.0 million as of March 31, 2020. As of June 30, 2020, the balance of held-to-maturity investments was RMB 4.1 million (US$0.6 million), compared to RMB 4.4 million as of March 31, 2020. As of June 30, 2020, the balance of available-for-sale investments was RMB 513.0 million (US$72.6 million), compared to RMB 456.1 million as of March 31, 2020.

Delinquency rates. As of June 30, 2020, the delinquency rates for loans that are past due for 15-29 days, 30-59 days and 60-89 days were 1.4%, 2.0%, and 2.1%, respectively compared to1.6%, 4.1%, and 3.2%, as of March 31, 2020. 

Cumulative M3+ net charge-off rates. As of June 30, 2020, the cumulative M3+ net charge-off rate for loans originated in 2017 was 16.7%, compared to 16.5% as of March 31, 2020. As of June 30, 2020, the cumulative M3+ net charge-off rate for loans originated in 2018 was 17.6%, compared to 15.8% as of March 31, 2020. As of June 30, 2020, the cumulative M3+ net charge-off rate for loans originated in 2019 was 9.4%, compared to 5.2% as of March 31, 2020.

Recent Development

Management Change

Mr. Zhong Bi has resigned from his position as the Company's Chief Financial Officer ("CFO") to pursue other opportunities, effective on September 10, 2020. The board of directors of the Company has appointed Ms. Na Mei as the Company's new CFO, effective on September 10, 2020. Over the past two months, Ms. Mei has been working with Mr. Bi on daily CFO duties to ensure a smooth transition.

Ms. Mei joined CreditEase Consumer Credit Division, now part of Yiren Digital, in 2015. She has served as the financial controller for this business unit and the head of business finance department. Prior to joining CreditEase, Ms. Mei had worked 12 years at PricewaterhouseCoopers. She brought in seasoned experience in finance management, taxation, internal control and consulting, along with years of first-hand exposure dealing with publicly listed companies in China and abroad. Ms. Mei obtained her bachelor's degree from Capital Economic University and is a certified public accountant.

2020 Share Incentive Plan

Yiren Digital adopted a 2020 share incentive plan (the "2020 Plan") in the second quarter of 2020. The 2020 Plan has a ten-year term, and has a maximum number of 18,560,000 ordinary shares available for issuance pursuant to all awards under the 2020 Plan. Yiren Digital may grant restricted share units and other form of awards pursuant to the 2020 Plan. In connection with the adoption of the 2020 Plan and to prevent dilution to existing shareholders, CreditEase Holdings (Cayman) Limited, the parent company of Yiren Digital, will surrender for cancellation and for nil consideration 18,560,000 ordinary shares of US$0.0001 par value each standing in its name in the register of members of Yiren Digital.

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.

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 RMB 7.0651 to US$1.00, the effective noon buying rate on June 30, 2020, 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 p.m. U.S. Eastern Time on August 27, 2020 (or 8:00 a.m. Beijing/Hong Kong Time on August 28, 2020).

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

http://apac.directeventreg.com/registration/event/9992747

Please note the Conference ID number of 9992747.

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 September 3, 2020:

International

+61 2-8199-0299

U.S.

+1 646-254-3697

Replay Access Code:

9992747

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. (NYSE: YRD) is a leading fintech company in China, providing both credit and wealth management services. For its credit business, the Company provides an effective solution to address largely underserved investor and individual borrower demand in China through online and offline channels to efficiently match borrowers with investors and execute loan transactions. Yiren Digital deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yiren Digital's marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns. For its wealth management business, the Company targets China's mass affluent population and strives to provide customized wealth management services, with a combination of long-term and short-term targets as well as different types of investments, ranging from cash and fixed-income assets, to funds and insurance. For more information, please visit ir.Yirendai.com.

 

 

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,
2019


March 31,
2020


June 30,
2020


June 30,
2020



June 30,
2019


June 30,
2020


June 30,
2020


RMB


RMB


RMB


USD



RMB


RMB


USD

Net revenue:















Loan facilitation services

1,237,718


358,541


171,084


24,215



2,292,764


529,625


74,964

Post-origination services

241,321


146,520


126,477


17,902



537,600


272,997


38,640

Account management services

549,024


413,166


300,720


42,564



1,037,364


713,886


101,044

Others

188,577


105,433


156,408


22,138



329,320


261,841


37,061

Total net revenue

2,216,640


1,023,660


754,689


106,819



4,197,048


1,778,349


251,709

Operating costs and expenses:















Sales and marketing

1,208,647


616,441


508,466


71,969



2,336,592


1,124,907


159,220

Origination and servicing

162,945


102,918


165,183


23,380



335,068


268,101


37,947

General and administrative

175,534


149,041


172,568


24,425



433,241


321,609


45,521

Allowance for contract assets and
receivables

500,861


143,385


168,708


23,879



691,965


312,093


44,174

Total operating costs and expenses

2,047,987


1,011,785


1,014,925


143,653



3,796,866


2,026,710


286,862

Other income/(expenses):















Interest income, net

25,213


25,116


16,950


2,399



49,088


42,066


5,954

Fair value adjustments related to
Consolidated ABFE

5,787


(26,020)


(32,957)


(4,665)



40,785


(58,977)


(8,348)

Others, net

17,480


12,184


(3,510)


(496)



177,703


8,674


1,228

Total other income/(expenses)

48,480


11,280


(19,517)


(2,762)



267,576


(8,237)


(1,166)

Income/(loss) before provision for
income taxes

217,133


23,155


(279,753)


(39,596)



667,758


(256,598)


(36,319)

Share of results of equity investees

(816)


-


-


-



(5,773)


-


-

Income tax expense/(benefit)

61,856


3,936


(47,558)


(6,731)



138,390


(43,622)


(6,174)

Net income/(loss)

154,461


19,219


(232,195)


(32,865)



523,595


(212,976)


(30,145)
















Weighted average number of ordinary
shares outstanding, basic

184,608,337


185,600,961


185,613,735


185,613,735



184,865,964


185,607,348


185,607,348

Basic income/(loss) per share

0.8367


0.1036


(1.2510)


(0.1771)



2.8323


(1.1475)


(0.1624)

Basic income/(loss) per ADS

1.6734


0.2072


(2.5020)


(0.3542)



5.6646


(2.2950)


(0.3248)
















Weighted average number of ordinary
shares outstanding, diluted

186,667,233


186,166,429


185,613,735


185,613,735



186,621,626


185,607,348


185,607,348

Diluted income/(loss) per share

0.8275


0.1032


(1.2510)


(0.1771)



2.8057


(1.1475)


(0.1624)

Diluted income/(loss) per ADS

1.6550


0.2064


(2.5020)


(0.3542)



5.6114


(2.2950)


(0.3248)
















Unaudited Condensed Consolidated
Cash Flow Data















Net cash generated from/(used in)
operating activities

36,352


557,762


(86,768)


(12,281)



(622,083)


470,994


66,664

Net cash provided by/(used in)
investing activities

240,896


(524,479)


(164,623)


(23,302)



(9,035)


(689,102)


(97,537)

Net cash (used in)/provided by
financing activities

(73,385)


(65,637)


39,905


5,648



420,004


(25,732)


(3,642)

Effect of foreign exchange rate changes

1,532


1,206


(86)


(12)



(664)


1,120


159

Net increase/(decrease) in cash, cash
equivalents and restricted cash

205,395


(31,148)


(211,572)


(29,947)



(211,778)


(242,720)


(34,356)

Cash, cash equivalents and restricted
cash, beginning of period

2,617,311


3,269,142


3,237,994


458,308



3,034,484


3,269,142


462,717

Cash, cash equivalents and restricted
cash, end of period

2,822,706


3,237,994


3,026,422


428,361



2,822,706


3,026,422


428,361

 

 

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)



As of


December 31,
2019


March 31,
2020


June 30,
2020


June 30,
2020


RMB


RMB


RMB


USD









        Cash and cash equivalents

3,198,086


3,194,993


2,935,543


415,498

        Restricted cash

71,056


43,001


90,879


12,863

        Accounts receivable

3,398


33,902


27,309


3,865

        Contract assets, net

2,398,685


1,873,548


1,356,886


192,055

        Contract cost

160,003


149,917


145,809


20,638

        Prepaid expenses and other assets

1,333,221


868,462


1,134,257


160,545

        Loans at fair value

418,492


313,267


246,475


34,886

        Financing receivables

29,612


33,381


54,876


7,767

        Amounts due from related parties

988,853


1,583,859


1,560,376


220,857

        Held-to-maturity investments

6,627


4,399


4,126


584

        Available-for-sale investments

460,991


456,061


513,013


72,612

        Property, equipment and software, net

195,855


188,880


184,957


26,179

        Deferred tax assets

45,407


42,084


49,051


6,943

        Right-of-use assets

334,134


291,028


224,067


31,715

Total assets

9,644,420


9,076,782


8,527,624


1,207,007

        Accounts payable

43,583


39,068


40,324


5,708

        Amounts due to related parties

106,645


112,034


184,325


26,090

        Liabilities from quality assurance program and guarantee

4,397


3,487


2,660


377

        Deferred revenue

358,203


254,933


190,712


26,994

        Accrued expenses and other liabilities

2,338,745


1,946,205


1,981,040


280,397

        Refund liability

1,801,535


1,760,942


1,501,318


212,497

        Deferred tax liabilities

218,888


216,304


162,016


22,932

        Lease liabilities

282,334


259,197


205,056


29,024

Total liabilities

5,154,330


4,592,170


4,267,451


604,019

        Ordinary shares

121


121


121


17

        Additional paid-in capital

5,038,691


5,045,268


5,050,226


714,813

        Treasury stock

(37,097)


(37,097)


(37,097)


(5,251)

        Accumulated other comprehensive income

21,855


18,671


23,474


3,323

        Accumulated deficit

(533,480)


(542,351)


(776,551)


(109,914)

Total equity

4,490,090


4,484,612


4,260,173


602,988

Total liabilities and equity

9,644,420


9,076,782


8,527,624


1,207,007

 

 
















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,
2019


March 31,
2020


June 30,
2020


June 30,
2020



June 30,
2019


June 30,
2020


June 30,
2020


RMB


RMB


RMB


USD



RMB


RMB


USD

Operating Highlights















Amount of p2p investment

11,939,582


5,203,747


4,017,751


568,676



23,375,170


9,221,497


1,305,218

Number of p2p investors

157,973


78,256


63,066


63,066



320,054


108,252


108,252

Amount of non-p2p investment

284,782


2,163,313


2,186,210


309,438



613,490


4,349,523


615,635

Number of non-p2p investors

10,235


18,809


30,392


30,392



19,370


39,443


39,443

Amount of loans facilitated

9,673,818


1,839,454


2,402,494


340,051



20,608,740


4,241,948


600,409

Number of borrowers

135,246


115,420


107,568


107,568



280,634


220,731


220,731

Remaining principal of performing
loans

58,071,303


42,063,039


33,454,423


4,735,166



58,071,303


33,454,423


4,735,166
















Segment Information















Wealth management:















Revenue

592,378


415,876


322,381


45,630



1,113,812


738,257


104,493

Sales and marketing expenses

213,168


67,326


45,454


6,434



357,072


112,780


15,963
















Consumer credit:















Revenue

1,624,262


607,784


432,308


61,189



3,083,236


1,040,092


147,216

Sales and marketing expenses

995,479


549,115


463,012


65,535



1,979,520


1,012,127


143,257
















Reconciliation of Adjusted
EBITDA















Net income/(loss)

154,461


19,219


(232,195)


(32,865)



523,595


(212,976)


(30,145)

Interest income, net

(25,213)


(25,116)


(16,950)


(2,399)



(49,088)


(42,066)


(5,954)

Income tax expense/(benefit)

61,856


3,936


(47,558)


(6,731)



138,390


(43,622)


(6,174)

Depreciation and amortization

31,112


27,171


24,368


3,449



63,614


51,539


7,295

Share-based compensation

17,732


4,541


2,954


418



32,431


7,495


1,061

Adjusted EBITDA

239,948


29,751


(269,381)


(38,128)



708,942


(239,630)


(33,917)

Adjusted EBITDA margin

10.8%


2.9%


-35.7%


-35.7%



16.9%


-13.5%


-13.5%

 

 

Delinquency Rates



Delinquent for



15-29 days


30-59 days


60-89 days

All Loans







December 31, 2015

0.7%


1.2%


0.9%

December 31, 2016

0.6%


0.9%


0.8%

December 31, 2017

0.8%


1.0%


0.8%

December 31, 2018

1.0%


1.8%


1.7%

December 31, 2019

1.2%


2.0%


1.7%

March 31, 2020

1.6%


4.1%


3.2%

June 30, 2020

1.4%


2.0%


2.1%








Online Channels






December 31, 2015

0.5%


0.8%


0.6%

December 31, 2016

0.5%


0.9%


0.8%

December 31, 2017

1.1%


1.1%


0.9%

December 31, 2018

1.2%


2.3%


2.2%

December 31, 2019

1.6%


2.9%


2.5%

March 31, 2020

1.9%


5.2%


3.8%

June 30, 2020

1.4%


2.4%


2.7%








Offline Channels






December 31, 2015

0.7%


1.2%


1.0%

December 31, 2016

0.6%


0.9%


0.8%

December 31, 2017

0.6%


0.9%


0.7%

December 31, 2018

0.9%


1.6%


1.5%

December 31, 2019

1.0%


1.7%


1.5%

March 31, 2020

1.6%


3.7%


3.1%

June 30, 2020

1.4%


1.8%


2.0%

 

 

Net Charge-Off Rate

Loan
Issued
Period


Amount of Loans
Facilitated
During the Period


Accumulated M3+ Net Charge-
Off
as of June 30, 2020


Total Net Charge-Off
Rate
as of June 30, 2020



(in RMB thousands)


(in RMB thousands)



2015


53,143,029


4,441,696


8.4%

2016


53,805,112


5,057,850


9.4%

2017


69,883,293


11,693,408


16.7%

2018


63,176,149


11,131,294


17.6%

2019


39,103,048


3,688,712


9.4%

2020Q1


1,320,428


6,388


0.5%

 

 

M3+ Net Charge-Off Rate

Loan
Issued
Period


Month on Book



4

7

10

13

16

19

22

25

28

31

34

2015Q1


0.8%

2.0%

3.4%

4.7%

5.7%

6.5%

7.1%

7.5%

7.7%

7.8%

7.8%

2015Q2


0.8%

2.3%

3.8%

5.2%

6.4%

7.3%

7.9%

8.3%

8.5%

8.7%

8.8%

2015Q3


0.4%

1.6%

3.1%

4.4%

5.6%

6.5%

7.1%

7.6%

7.9%

8.1%

8.4%

2015Q4


0.4%

1.6%

3.1%

4.4%

5.5%

6.3%

6.9%

7.4%

7.9%

8.3%

8.5%

2016Q1


0.3%

1.2%

2.5%

3.6%

4.5%

5.2%

5.8%

6.4%

7.0%

7.4%

7.6%

2016Q2


0.4%

1.6%

3.1%

4.3%

5.2%

6.0%

6.8%

7.6%

8.1%

8.4%

8.7%

2016Q3


0.3%

1.6%

3.1%

4.3%

5.4%

6.6%

7.8%

8.6%

9.2%

9.5%

9.8%

2016Q4


0.2%

1.5%

2.9%

4.4%

5.9%

7.4%

8.4%

9.3%

10.0%

10.4%

10.7%

2017Q1


0.3%

1.5%

3.2%

5.1%

7.1%

8.6%

9.8%

10.8%

11.5%

12.0%

12.2%

2017Q2


1.1%

2.9%

5.6%

8.4%

10.4%

12.1%

13.5%

14.5%

15.3%

15.8%

16.0%

2017Q3


0.3%

2.9%

6.4%

9.1%

11.6%

13.6%

15.0%

16.2%

16.9%

17.5%


2017Q4


0.5%

3.9%

7.3%

10.5%

13.2%

15.3%

16.9%

18.0%

18.8%



2018Q1


0.4%

3.0%

6.6%

10.1%

12.9%

15.2%

16.9%

18.2%




2018Q2


0.5%

3.6%

7.4%

10.8%

13.6%

15.8%

17.7%





2018Q3


0.4%

3.0%

6.2%

9.1%

11.7%

13.9%






2018Q4


0.3%

2.5%

5.6%

8.6%

11.7%







2019Q1


0.2%

2.5%

5.6%

9.0%








2019Q2


0.3%

2.9%

6.9%









2019Q3


0.3%

3.4%










2019Q4


0.3%











 

 

 

 

SOURCE Yiren Digital


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