Hua Rong's questions to Jiayin Group Inc (JFIN) leadership • Q3 2024
Question
Hua Rong from Jin Yun Asset asked for an explanation of the significant sequential increase in accounts receivable in Q3 and the status of its recovery. Rong also questioned why the average borrowing amount per borrower decreased year-over-year despite revenue growth.
Answer
CFO Fan Chunlin stated the rise in accounts receivable was in line with record quarterly growth in loan facilitation revenue and that historical collection has been good. Chief Risk Officer Xu Yifang explained the lower average loan amount is a result of a strategic shift to acquire new borrowers with lower initial credit lines and to offer more flexible withdrawal options for existing premium borrowers, thereby expanding the overall user base.