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FinVolution Group Reports Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results
FINVFinVolution(FINV) Prnewswire·2025-03-17 22:00

Core Insights - FinVolution Group reported a total transaction volume of RMB206.2 billion for the full year 2024, representing a year-over-year increase of 6.1% [1][16] - The international transaction volume surpassed RMB10.1 billion, marking a significant year-over-year growth of 27.8% [1][17] - International revenues reached RMB2.5 billion, up 18.5% year-over-year, accounting for 19.4% of total net revenues [1] Financial Performance - For the fourth quarter of 2024, net revenue was RMB3,456.7 million (US473.6million),anincreasefromRMB3,223.6millioninthesameperiodof2023[19]−LoanfacilitationservicefeesforQ42024wereRMB1,344.8million(US473.6 million), an increase from RMB3,223.6 million in the same period of 2023 [19] - Loan facilitation service fees for Q4 2024 were RMB1,344.8 million (US184.2 million), compared to RMB1,107.4 million in Q4 2023 [20] - Net profit for Q4 2024 was RMB680.8 million (US93.3million),upfromRMB528.8millioninQ42023[31]OperationalHighlights−Cumulativeregisteredusersreached172.6millionasofDecember31,2024,reflectinga10.993.3 million), up from RMB528.8 million in Q4 2023 [31] Operational Highlights - Cumulative registered users reached 172.6 million as of December 31, 2024, reflecting a 10.9% increase from the previous year [3] - The number of cumulative borrowers increased to 26.8 million, a rise of 6.3% year-over-year [10] - The average loan size for Q4 2024 was RMB11,466, compared to RMB9,044 in Q4 2023 [10] International Market Growth - The international market saw a cumulative borrower count of 7.0 million, up 45.8% year-over-year [10] - Unique borrowers in the international market for Q4 2024 reached 1.6 million, an increase of 87.9% compared to the same period in 2023 [10] - Transaction volume in the international market for Q4 2024 was RMB2.9 billion, a 26.1% increase year-over-year [10] Strategic Insights - The company emphasized its "Local Excellence, Global Outlook" strategy, which has driven growth in both domestic and international markets [16] - The company has consistently returned value to shareholders, deploying approximately US160.4 million in 2024 for share repurchases and dividends, representing a payout ratio of about 49.1% [18] - The company expects total revenue for 2025 to be in the range of RMB14.4 billion to RMB15.0 billion, indicating a year-over-year growth of approximately 10.0% to 15.0% [49]