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    X Financial (XYF)

    Q1 2024 Earnings Summary

    Reported on Feb 21, 2025 (Before Market Open)
    Pre-Earnings Price$3.91Last close (May 30, 2024)
    Post-Earnings Price$3.98Open (May 31, 2024)
    Price Change
    $0.07(+1.79%)
    • Net income increased by 28% year-over-year to RMB 363 million, demonstrating strong profitability growth [[1]].
    • Total net revenue increased by 20% to RMB 1,208 million, indicating robust revenue growth [[1]].
    • The company authorized a new share repurchase program of up to $20 million, showing confidence in its future prospects and commitment to returning value to shareholders [[1]].
    • Decrease in Loan Volume: The total loan amount facilitated and originated decreased by 11% year-over-year and 18% quarter-over-quarter to RMB 22 billion, indicating a downward trend in loan origination that could impact future revenue growth.
    • Rising Delinquency Rates: Delinquency rates for outstanding loans past due for 31 to 60 days and 91 to 180 days increased to 1.61% and 4.37%, respectively, from 1.05% and 2.4% a year ago, suggesting deteriorating asset quality and potential challenges in loan repayments.
    • Increased Origination and Servicing Expenses: Origination and servicing expenses increased by 15% to RMB 427 million from RMB 371 million in the same period of 2023, primarily due to higher collection expenses, which could pressure profitability if not managed effectively.

    Research analysts covering X Financial.