- The stock price of FinVolution Group (NYSE: FINV) increased by over 7% pre-market. This is why it happened.
The stock price of FinVolution Group (NYSE: FINV) increased by over 7% pre-market. Investors are responding positively to the company’s first-quarter 2021 unaudited financial results.
These are the highlights:
— Total cumulative registered users reached 125.3 million as of March 31, 2021.
— Total number of unique borrowers was 3.2 million as of March 31, 2021.
— Total number of new borrowers was 1,005 thousand, an increase of 169.4% compared to same period of 2020.
— Loans facilitated for total new borrowers was RMB5.6 billion, an increase of 250% compared to the same period of 2020.
— Loans facilitated for small business owners were RMB4.4 billion, representing 16.4% of total loan origination volume.
— 90 day+ delinquency ratio was 1.13% as of March 31, 2021, compared to 7.25% as of March 31, 2020.
— Average loan size was RMB4,369 for the first quarter of 2021, compared to RMB3,873 in the same period of 2020.
— Average loan tenor was 8.4 months for the first quarter of 2021.
— Operating profit was RMB655.7 million (US$100.1 million) for the first quarter of 2021, an increase of 43.9% from the first quarter of 2020.
— Non-GAAP adjusted operating profit, which excludes share-based compensation expenses before tax, was RMB671.2 million (US$102.4 million) for the first quarter of 2021, an increase of 44.7% from the first quarter of 2020.
— Net profit was RMB592.8 million (US$90.5 million) for the first quarter of 2021, an increase of 41.0% from the first quarter of 2020.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
