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JFIN Jiayin

Participants
Susie Wang Director of The Blueshirt Group, Asia
Yan Dinggui Chief Executive Officer
Jin Chen Co-Chief Financial Officer
Xu Yifang Chief Risk Officer
Call transcript
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Operator

00:04 Good day ladies and gentlemen. Thank you for standing by and welcome to the Jiayin Group’s Third Quarter of twenty twenty one Earnings Conference Call. Currently, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. [Operator Instructions] 00:28 I will now turn the call over to Ms. The Asia. of Director Wang, Blueshirt Group, Susie Ms. Wang, please proceed.

Susie Wang

twenty all us Jiayin Services. earlier on Hello of financial everyone. on conference today Newswire joining company’s you Thank twenty quarter release third discuss X:XX and today’s the the is from for call website for as the We as press one. released results available results Group’s the to well

nineteen Mr. and Yan Yifang, On five. Jin Dinggui, statements Executive will harbor today the the Private safe ninety call Officer. Xu Officer; with contain provisions the Officer; continue, that U.S. Financial Chief Co-Chief Securities are Risk we please Ms. of me Chen, Mr. forward-looking Before Reform today’s Litigation on of Chief XX:XX made note discussion Act

as uncertainties today. regarding Further the included materially to company’s and involve results actual risk any assume and be information company’s expressed company filings Forward-looking SEC. statements obligation risk different is inherent expectations other XX:XX such the The from with does in not public and uncertainties these may any With turn to required CEO, are law. Chinese that Yan XX:XX Go please note Yan. conference me let all under otherwise over during in statement as stated, update Also unless call figures Mr. ahead renminbi. applicable the mentioned except call now that, forward-looking the Dinggui. our

Yan Dinggui

impressive twenty Thank XX:XX with our reflecting conference results, earning one twenty We success for call. strategies Hello another of quarter execution. you quarter financial everyone. third our the delivered outstanding joining growth

from We with our percent three to U.S. in we eight net our has our and origination collaborations year broaden quarter continued continuous in increase two revenue. right with the surpass funding In our in doubled partners, to discussion. expanding billion risk loan point a our XX:XX our to thirty resources X As institutional believe volume Dollar another forty our resources, diversify efforts are stage forty funding institutions we with by six management increased track while for excellence. maintaining three, partners growth, funding next leveraged of our last on

will massive line have we we begun In focused that more the We program capture this continued at are growing and on will marketing customers higher growth pace new our a in have top and resumed confident is credit quality accelerated acquiring consumer market. quarter, XX:XX opportunities customers.

maintained we prosperity have Small We are owners. business rapid by [indiscernible] option] [ph] about cautious delinquency a capabilities. the great program what and development and rates as of economic initiatives present a of We a use very XX:XX for backbone opportunity [act our sustaining of are the started that business for repayment a However, the portfolio common accessing offering, country’s [indiscernible] are we and long for small us. growth. low

environments improve will We to schools one charity, children society out criteria borrowers providing for quarter go One dedicated school is quality adhering corporate to the rolling program corporate want important our founded, in of our differential credit others for we value to to for our borrowers borrowing have believe a better of most nine CSR, our XX:XX more are with ensure technology with I with point tours large quality this Today, repeat credit profile to portion this our remain for which quality of and creating help borrowers Last, [indiscernible] – loans XX:XX program credit, mention on exact of and gradually rate XX:XX for risk our or [indiscernible] are scoring develop and Since you will one continues Jiayin to in social We help We spirit concerning underwriting improved been loan a was serving the responsibility, the our higher of advanced volume yourself. and in risk credit higher designed our capabilities. gather and at system culture. dedicated needy. efforts our ensure aspects many credit. quality. of percent. to good existing sixty quality

to and launch for remaining by of in awards] contribute and and lives with of participating obliging has [ph], the quarter the promoting the serve air incentives So XX:XX and of wider better country schools made books, conclusion, forty another order CSR to XX:XX solid In in we health [cash impressive growth. donations formation, also supplies, including obliged achieved donations school across and addition more social committee people's events awareness variety In public we the to more a far, variance China events. the more. a to yet continuously financial

advance to a explore with enable to our further technological working and overseas to our our market, continue in our will capabilities in business while will partners us that institutional opportunities operation solidify diversify We model. our China

over maintain the and turn We consistent go to Jin please Jin, that, CFO, resume growth. robust a With are ahead confident ahead. and to call I'll now [indiscernible] in our quarter Chen. XX:XX the long-term

Jin Chen

XX:XX you Thank thank everyone our today. joining Yan. call Mr. for you, And

go in our the seven able quarter, we we high eight XX:XX quality over institutional point to sixty with four this point line ahead. resume As and forty confident as eight as two the financial marketing and as hundred to hundred strong as percent me year we RMB, are percent in of strong seventy volume and year note. since year. total for accelerated growth year at mentioned, four years partners, revenue by the income PXP increase the a longer expenses operating in one through year clearance percentage volumes, up one sequentially. have origination May. Now, began year sales This of an in two XX:XX the in last RMB point let are representing our was third Other lending growth increase and seven no balance continue reaching sales three quarter. compared growth, four more came loan a revenue XX:XX the In eight offset two all one point point million, was percent. same XX:XX RMB the step loan hundred [ph] to point primarily increase point supports Mr. we three Bweenet same quoted seven [indiscernible] quarter. was billion RMB financial point highlights XX:XX which [upward Net change four hardware to chain] last our percent Moving was costs, With operating hundred Revenue decrease company Yan point customers significant over expenses revenue percent. XX:XX was two year as the to down acquisition business, spending attract from origination over well costs Please five Net our note Total comparisons. costs million trajectory, percent point growth a RMB increased the forty the for a that the one over great and driven six revenue top point quarter year and on quarter, on of unless twenty seventeen The up eight ended increased three growth percent. along services of integration in pace. to million period and we Total sixty percent twenty stated three hundred maintained legacy and two versus spending since year. partially otherwise another are refer percent primarily overall reaching reduced period of related point numbers the seven point seven the million, Shanghai eighty year three point the due in increase by from and million a significant was PXP in RMB. on RMB, to at one seventy by PXP in last new customer diverse forty forty point six

one to partially billion our been objective cash point the quarter point legacy to was advertising flexibility and us primarily volume as and professional million million of up service down RMB to XX:XX and this primarily enabling business. G of drive point by in eight model greater into investing lending Moving nil income resulting our This servicing seven us forty sales RMB RMB which since XX:XX twenty. posting loan six the compared credit origination RMB, percent, continue and period and we the and expenses thirty, increase We four up one of volume. two Due support million and the a in and from expense, was As company cash percent PXP cost thirty a four and one. we XX:XX assessment long-term the and Our same achieved point hundred eighty eight hundred customers to from The seventy year benefits D accelerated year. our loan of percent, percent to new XX:XX were strategy, RMB, services development higher is twenty We with twenty higher point and increase hundred origination with A origination in eight RMB, [indiscernible] RMB at of four forty eight of loan one expense million incurred customer customer primarily has attracting department, twenty billion Bweenet. expenses uncollectible guidance. compared due ended year acquisition three to employee to percent of one were longer percent. four twenty. XX:XX five volumes, due net origination RMB estimated to XX:XX was utilization and one and loyal began pace point year professional full-year R our contracted up business forty under primarily intend point no twenty growth. growth decrease thirty to million, position and has million one productivity one [before increased expenditures the were than twenty one fees. we for Allowance increase point three percent facility with the and point primarily two three to from eight in our with [ph] sold equivalents, rate] of twenty resulted expense them were four volume assets, RMB, cash while of receivables, due the thirty of sixty The loans research allocated over primarily seventy same Sales RMB improved point due forty expenses period our increased enhance translating over one research hundred the downward superior XX:XX due employees eight that five in cost percent, capabilities. twenty current the and development the receivables, twenty down marketing the eight origination our initiatives million offset to [indiscernible] ninety to profitability as representing base. due was by and point decrease others million, nine six will two up June point from twenty volume, two our online and Our algorithm continuously another growth more We billion which five twenty gave slower between growth. XX:XX the our to expected with point margin hundred grow through marketing to one our new point to expenses. long hardware

Operator, With we the Mr. and and Mr. strongly. please our can I Chief bounce questions. still objectives, Officer, Yan, our ahead. open we in will answer long questions. As and for call term follow our that, model go Xu ability XX:XX business the growth to confident Risk are back we

Operator

comes question first Your [ph] Partners. line your Capital [Andrew ROTH questions. Instructions] [Operator ask the Scott] from Please of XX:XX

Unidentified Analyst

on you've and you in the XX:XX like just can revolves of strong last evening and around first kind guys new advertising? are made acquisition sales My few profitability. marketing so question quarters, in looks traction online you spend the congrats talk success to the increased the making borrowers. you new have guys Good of strong on It your the seen

Jin Chen

This I take this is Yeah. XX:XX question. – will

point So, yes, thirty sales million hundred nine two and were RMB. expense and market six

this quarter to XX:XX primarily So, launched. among But half think amount] if the increase percent along that you roughly compare So due quarter's [ph]. we six the last look I [facilitation marketing half represents at is marketing it's we thirty and the think is I if by last initiatives the the and percent the number, it year, remaining to driven thirty increase. increase, six fee strategy the

quarter, build the information in we that mentioned the second is I we last the feed quarter think quarter launching advertisement. of as So,

improvements and great So, these compared pretty are [indiscernible] quarter, terms [indiscernible] the see the last with per to we amounts, initiatives. of downwards. So, in of the per are cost edging ratio happy they new cost both XX:XX borrowers

different sales cost breakthrough expenses of channels. total at we September. say result the I customer will borrowers look the great quarter, That's this the end the [ph] moment, the newly and our numbers seen help and marketing are we initiatives also mix. lots at will the So, the [repeat marketing channel come mix. affected to or by pretty the these and this the are at efficient existing way. borrowers] the more and would we've bringing performance of and see customers of are mean in on initiatives So, confident and I the to effective XX:XX this [indiscernible] target new there in if as But economic our comparable that be board

that we this volumes are be So, as cost. for long there work So, would the now. room it change grows, seeing continue our and XX:XX efficiency hope will as optimize to gains we will to clarify

Unidentified Analyst

information. is the Great hear for XX:XX to the Great. the improving. and you initiatives efficiency Thank

question businesses, it's some you Can for you of other guys to you provide maybe could details be around are that businesses you my on type detail are second good? products new small hear loans, guys rolling So, would targeting have what there of any maybe the and size starting guys revolves you out. provide the

Xu Yifang

take This question. XX:XX you, Thank Andrew. your going I'm Yifang. to is

– we we these with and cost channels. primarily are our to regarding XX:XX we where So, wise. where are we with through SME SME, stay familiar started on acquisition on focus channel online focusing highly So, customers effective acquiring

to we of are customer terms acquiring small the In businesses. really of type are micro

identify their who process, business this we credit part well their both as are us customers to worthiness. targeting point, acquisition their owners. Jiayin the credential, as of calls At evaluating are small personal licenses, potential which also of as to helps are business part submitting the existing these asking As – customers, to XX:XX customers we but have customer

on XX:XX are we than little credit loan terms higher are new channels. as percent having thirty In to we terms what staying twenty before, [indiscernible] our percent little higher on-site wise, the I said acquiring of lines. prices customer a a online In addition, also acquisition it's average bit about now, in bit of to

Unidentified Analyst

guys the Awesome. [indiscernible] guys on next if Thanks. have XX:XX spoke, diversity My very various I has helpful. any just be seeing to and you were guys are expansion. time three we top recently question international Last was That updates markets the you still was received with [indiscernible]. into? lender wondering great just you entering

Xu Yifang

the again. – are questions going the We is XX:XX I'm take expansion. on on it market Yifang to

As progress making we shared last have time, we are solid in international markets.

we we're For but commerce micro-lending into seeing the Mexico new leading market, the Mexico position as the Mexico. remain the in business,

XX:XX For all, terms I Nigeria, towards progress we making we the our product terms increased in proliferation. share lending we total that but preparing volumes solid may ourselves we are not dramatically, In the said our of obtained believe of having license.

trying now lending process license. back in we are scalability. our positions our in reporting the We terms to still are And of achieve to on our solidify trying of Indonesia,

Unidentified Analyst

you. Thank Great. XX:XX

I loans if has for you a uncollectible you there the receivables On funded of of as your of the you of do substantially. normalizing? allowance with quality today? that a average me, see it And charge funding customer credit may? kind feel are costs, guys Is guys percentage from Next dropped guys level comfortable your credit

Xu Yifang

not your catch you able We're say question. it Andrew? to again XX:XX Can

Unidentified Analyst

sorry. Yes, XX:XX

dropped credit per funded on uncollectible accounts loan charges cost, has Just substantially. your for

the to and the costs credit you where feel talk of going you customer So, how average can see you today? about credit standard quality

Xu Yifang

is our general talk the uncollected primarily on I improvement driven of credit quality. directions. drop credit XX:XX the on The reason will about for by the cost the the loans

Jin Chen

we’ve for our changed last substantially. And year, model business XX:XX of because –

related due we institutions to is the financial allowance So, most it that our uncollectible are I mean, our for this the to. provide quarter service party. of

licensed So, most of are financial them credit and institutions.

So, they credit. have pretty good

allowance – see book. the business on So, uncollectible the part can that basically we from previous are remaining you the on remaining the are

Unidentified Analyst

XX:XX if I Awesome. may. And you. Thank last one

speak Bweenet, next for And business you is working over to you few and You can that revenues guys from some see to all are just the integration Thanks, quarters? how generate me. how that’s beginning the going?

Xu Yifang

Yeah, XX:XX Yes. right.

again. Yifang this So is

and crackdown of [indiscernible], down of recent brought the challenges on lot the segments. because business bitcoin the mining market to So a at this blockchain a

this this seeking So, Mainland we the we stop moment, but as to to segment are actively opportunity a result move it operations just China, at in overseas.

monitoring we closely market the and will this regulation progress. is And be to a we remain investment change evolving are will the there our when alert We XX:XX assessing plan. and this this moment, policy to ever adjust update at according

Unidentified Analyst

XX:XX Great. for the responses on Thank you quarter. and strong once the congrats again

Xu Yifang

Yes. XX:XX you, Thank Andrew.

Operator

ahead. to more Chen. Seeing Instructions] I go call will Ms. turn [Operator no XX:XX Please questions. the

Jin Chen

Thank participating forward you call, operator, for all to for interest appreciate today's and quarter our and XX:XX your thank on your again progress. you, thank reporting you to and support. next you We on look

Operator

conference concludes This today's Thank participating. XX:XX you call. for

may disconnect. now You