FinVolution Group Reports First Quarter 2020 Unaudited Financial Results

Source: PR Newswire 2020-05-27

FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Financial and Operational Highlights：

Net revenue increased by 40.8% to RMB2,106.3 million (US$297.5 million) for the first quarter of 2020, from RMB1,495.6 million in the same period of 2019.

Operating income was RMB455.8 million (US$64.4 million) for the first quarter of 2020, representing a decrease of 42.7% from RMB794.8 million in the same period of 2019.

Non-GAAP adjusted operating income[8], which excludes share-based compensation expenses before tax, was RMB463.8 million (US$65.5 million) for the first quarter of 2020, representing a decrease of 42.5% from RMB807.0 million in the same period of 2019.

Cumulative registered users[1] reached approximately 108.3 million as of March 31, 2020.

Cumulative number of borrowers[2] was approximately 18.2 million as of March 31, 2020.

Number of unique borrowers[3] was approximately 1.6 million for the first quarter of 2020, representing a decrease of 51.1% from the same period of 2019.

Loan origination volume[4] was approximately RMB13.1 billion for the first quarter of 2020, representing a decrease of 31.6% from the same period of 2019.

Average loan tenure[7] was 8.4 months for the first quarter of 2020.

financial technology

FinVolution Group

FinVolution Group Reports First Quarter 2020 Unaudited Financial Results

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