Jiayin Group Inc (NAS:JFIN)

Q3 2024 Jiayin Group Inc Earnings Call Transcript

Nov 20, 2024 / 01:00 PM GMT

Release Date Price: $5.84 (-14.12%)

Transcript

Key Points

Positve

Jiayin Group Inc (JFIN) achieved a record loan facilitation volume of approximately RMB 26.5 billion in Q3 2024, marking a year-over-year growth of 10.3%.
Revenue from loan facilitation services increased by 18.1% year-over-year, reaching around RMB 1.1 billion.
The company has successfully expanded its institutional partnerships, establishing collaborations with 70 diverse financial institutions.
Jiayin Group Inc (JFIN) has made significant advancements in technology, including the introduction of a self-developed automated machine learning platform to enhance credit risk measurement and marketing scenarios.
The company reported a 71.3% year-over-year growth in new borrowers, acquiring 826,000 new borrowers in Q3 2024.

Negative

Net revenue decreased by 1.5% year-over-year, and net income dropped by 16.8% compared to the same period in 2023.
The average borrowing amount per loan decreased by 30.5% year-over-year, indicating a potential shift in user preference towards smaller loan amounts.
Accounts receivable balance increased significantly, exceeding RMB 2.8 billion, which may impact cash flow management.
Sales and marketing expenses rose by 34.9% year-over-year, primarily due to increased borrower acquisition costs.
Despite improvements, the net profit margin for Q3 2024 was 18.7%, reflecting a decrease from the same period last year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

JFIN.OQ - Jiayin Group Inc
Q3 2024 Jiayin Group Inc Earnings Call
Nov 20, 2024 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day. Ladies and gentlemen, thank you for standing by and welcome to the Gin Group's third quarter, 2024 earnings conference call. Currently all participants are in listen-only mode later, we will conduct a question and answer session and instructions will follow at that time as a reminder, we are recording today's call. If you have any objections, you may disconnect at this time.

I will now turn the call over to Mr Sean Zhang from investor relations of Gin Group. Please proceed.

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Unidentified_2 [2]
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Thank you operator. Hello everyone. Thank you all

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