X Financial (XYF) has released an update.
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X Financial has reported a robust start to 2024, with a significant 20.2% year-over-year increase in net revenue for Q1, reaching RMB 1.21 billion. The company’s net income also saw a noteworthy rise of 27.7% compared to the same period in 2023, amounting to RMB 363.1 million. Despite these financial gains, X Financial experienced a decrease in both the total loan amount facilitated and the number of active borrowers, highlighting potential challenges in the loan sector.
For further insights into XYF stock, check out TipRanks’ Stock Analysis page.
