Yiren Digital Ltd. Sponsored Adr (YRD) has released an update.
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Yiren Digital Ltd. reports robust financial performance for the fourth quarter and fiscal year 2023, highlighting a significant increase in loans facilitated and borrowers served, alongside substantial growth in e-commerce revenue. Despite a decrease in life insurance sales due to new regulations, the company’s technological advancements, particularly in AI, have poised it for strategic partnerships and investments in its expanding AI ecosystem. The company’s solid year-end financials are supported by a strong balance sheet, with notable cash reserves earmarked for future business opportunities.
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