X Financial ( (XYF) ) has released its Q4 earnings. Here is a breakdown of the information X Financial presented to its investors.
X Financial is a prominent online personal finance company in China, specializing in connecting borrowers with institutional funding partners through its data-driven platform.
In its latest earnings report, X Financial announced a significant increase in financial performance for the fourth quarter and fiscal year 2024, with notable growth in loan facilitation and net income.
The company reported a 43.3% year-over-year increase in total net revenue for the fourth quarter, reaching RMB 1,708.7 million. The total loan amount facilitated and originated in the fourth quarter rose by 23.6% year-over-year to RMB 32,297 million. Additionally, the number of active borrowers increased by 32.2% to over 2.1 million. X Financial’s net income for the quarter more than doubled compared to the previous year, reaching RMB 385.6 million.
For the fiscal year 2024, X Financial achieved a 22.0% increase in total net revenue, amounting to RMB 5,871.8 million. The company’s net income for the year rose by 29.8% to RMB 1,539.9 million. The company also highlighted improvements in asset quality, with reduced delinquency rates for loans past due.
Looking ahead, X Financial is optimistic about its growth prospects in 2025, expecting a 30% increase in total loan volumes. The company plans to leverage advancements in AI technology to enhance operational efficiency and service quality, while continuing to focus on shareholder returns through share repurchases and dividends.