Latest news with #TiezhengLi
Korea Herald
7 days ago
- Business
- Korea Herald
FinVolution Recognized by Extel (Institutional Investor's) 2025 Asia Executive Team Awards
SHANGHAI, May 28, 2025 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech company, announced that the Company received multiple accolades in Institutional Investor's 2025 Asia Executive Team Awards. These awards commend the Company's effective corporate governance, executive leadership, and investor relations practices, as well as its unwavering commitment to sustainable value creation and transparent stakeholder communication. Institutional Investor is widely respected for in-depth journalism and insightful analysis that supports decision-making across the global investment community. Since 1972, Institutional Investor Research has published benchmark research and rankings, providing independent feedback on sell-side and corporate performance. Its 2025 Asia Pacific Executive Team Awards, based on the results of its annual survey, reflect the views of 6,300 investors, portfolio managers and analysts from 1,324 financial institutions across the region. For more information, please refer to: This year's Awards recognize the outstanding performance of FinVolution Executive Team across different award categories and regions. "We are honored by this recognition from Institutional Investor and the global investment community," said Mr. Tiezheng Li, Vice-Chairman and Chief Executive Officer of FinVolution. "The Most Honored Company Award stands as a strong testament to our team's collective focus on excellence, principled management and responsible governance across each aspect of our business, both domestically and abroad. Looking ahead, we will remain committed to upholding the highest standards of governance as we strive to advance inclusive finance through tech innovation." Mr. Jiayuan Xu, Chief Financial Officer, added, "Institutional Investor's commendation reinforces our dedication to financial discipline, effective capital allocation strategy and long-term value creation for shareholders. We will continue to prioritize transparency and fiscal responsibility as we shape the future of global finance." About FinVolution Group FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of March 31, 2025, the Company had 216.2 million cumulative registered users across China, Indonesia and the Philippines.
Yahoo
21-05-2025
- Business
- Yahoo
Q1 2025 FinVolution Group Earnings Call
Yam Cheng; Head, Capital Markets; FinVolution Group Tiezheng Li; President, Chief Executive Officer, Vice Chairman of the Board, Co-Founder; FinVolution Group Jiayuan Xu; Chief Financial Officer; FinVolution Group Cindy Wang; Analyst; China Rennaisance Alex Ye; Analyst; UBS Yada Li; Analyst; CICC Operator Hello, ladies and gentlemen. Thank you for participating in the first quarter of 2025 earnings conference call for FinVolution Group. (Operator Instructions) Today's conference call is being recorded.I will now turn the call over to your host Yam Cheng, Head of Capital Markets for the company. Yam, please go ahead. Yam Cheng Thank you, welcome. Hello, everyone. Welcome to our 2025 first-quarter earnings conference call. The company's results were issued via Newswire services earlier today and are posted online. You can download the earnings release and sign up for the company's email alerts by visiting the IR section of our website at Mr. Tiezheng Li, our Chief Executive Officer; and Mr. Jiayuan Xu, our Chief Financial Officer, will start the call with the prepare remarks and conclude with a Q&A this call, we will be referring to several non-GAAP financial measures to review and assess our operating performance. These non-GAAP financial measures are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP. For information about these non-GAAP measures and the cancellation to GAAP measures, please refer to our earnings press we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risk and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties are included in the company's filings with the US Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable we posted a presentation on our IR website providing details of our results for the I would turn the call over to our CEO, Mr. Tiezheng Li. Please go ahead. Tiezheng Li Thanks, Yam. Hello, everyone, and thank you for joining our earnings call. This is Tiezheng Li, CEO of FinVolution Group. We are happy to speak with you are pleased to report that FinVolution delivered strong financial and operational results in the first quarter of 2025. So effective execution of our local excellence, global outlook growth are navigating the expected seasonal softness in the sector, we achieved 10% year-over-year revenue growth fueled by our expanding take rate in China and surging international transaction volume grew robustly, up 36% year over year, complimenting China's slightly 7% growth. These successes job a record-breaking quarterly net profit of RMB738 million. The height since our transition to a loan facilitation model in 2019. This is represented increases of 39% year over year and 8% quarter over quarter, assessment to our operational we are mindful of ongoing microeconomic uncertainties, such as global trade tensions, property sector softening, and evolving regulations in China's consumer finance sector. We maintain a cautiously optimistic outlook. This confidence stems from two fundamental strengths in our business our proven resilience. Since our IPO in November 2017, we have successfully navigated multiple challenges, including our transition to an institutional funding model, Indonesia's regulatory change, and the COVID we have delivered consistent year-over-year growth in both transaction volume and revenue for every single quarter since 2021. This track record demonstrates our ability to adapt to regulatory changes and respond to market dynamics with agility and balance risk management with sustainable our strategic diversification initiatives in international markets continue to mitigate the impact of single country risks. Since entering Indonesia in 2018 and the Philippines in 2020, we have systematically built a broad right tech business designed to reduce geographic concentration risk. Our international business generated a total transaction volume of RMB3 billion in the fourth quarter and 36% year-over-year increase. This is outstanding loan balance growing 46% to RMB1.9 international business contributes 20.4% of total net revenue in the first quarter, up from 18.8% in the same period last year. We are on track to achieve our strategic goal of having international business, contribute 50% of the group's total revenue by customer base remains the cornerstone of our long-term growth. In Q1 2025, we maintained strong momentum in borrower acquisition across our markets, onboarding 1.2 million new borrowers, up 62% year over year. This marked our third consecutive quarter exceeding 1 million new borrowers and showing the effectiveness of our AI powered marketing strategy and diversified user acquisition China, we added 512,000 new borrowers, up 37% year over year. In our international markets, we attracted 652,000 new borrowers, up 90% year over year. This marks the fourth consecutive quarter where international acquisitions have exceeded those in China. We expect this trend to continue, thanks to the rising penetration in online lending, as well as our strategic cooperation with lending e-commerce and e-wallet platforms to acquire borrowers in international markets. Our technology initiatives continue to improve efficiency across our are exploring the use of large language models in risk assessment, leveraging their diverse capabilities to automatically extract and analyze and derive insights from unstructured data in consumer credit reports. For instance, the frequency with which a borrower changes a residential address is unstructured, contextual detail that can provide valuable insights into the stability of borrowers' work and the living conditions. Large language models can automatically capture this type of contextual data and convert it into meaningful structured data that can be integrated into our existing risk assessment model to more comprehensively evaluate users' probability of default. In our recent A/B testing, our model achieved observable statistically significant improvements, indicating enhanced risk assessment effectiveness. We've also made substantial progress in automation through our virtual representative integrating large language model, we will upgrade our natural language processing system with intelligent virtual agents that can handle customers' acquisition and a complex workflow. Looking ahead, we plan to expand their role across additional business functions to further boost operational I wrap up, a brief update on our ESG efforts. Our commitment to sustainable finance continues to deliver meaningful impact. In Q1 2025, we facilitated RMB15 billion in financing for 442,000 small business owners, up 15% and 10%, small business loans represent 30% of our China transaction volume, demonstrating our ongoing support for the backbone of China's economy. We further solidified our position as an industry thought leader by serving as a core contributor to the China Finance Consumer Rights Protection Bluebook, a key industry publication developed in a partnership with the National Internet Financial Association of China. With its release in March, we helped shape best practice in consumer protection and financial literacy conclusion, our strong first quarter performance reflects excellent execution of our effective local excellence global outlook strategy. Looking forward, we are well-positioned to capitalize on emerging opportunities while maintaining the agility required to navigate the evolving diversified footprint technological leadership and commitment to sustainable growth position us well to continue creating value for our that, I will now turn the call over to our CFO, Jiayuan Xu, who will discuss our operational and financial results. Jiayuan Xu Thank you, Tiezheng, and hello, everyone. Welcome to our first quarter 2025 earnings call. Let's go through our key results for the first quarter. To be mindful of the length of our earnings call today, I encourage listeners to refer to our first quarter earnings press release for further details. China's macro environment remained uncertain in the first quarter due to global trade there were some encouraging signs. China's GDP grew by 5.4% year over year, while retail sales rose by 5.9% in March. Total social financing expanded 8.4% in March, up from February. Additive manufacturing PMI remained above 50% in February and March, signaling continued recovery the regulatory front, we are pleased to see policies supporting consumption and consumer finance, including increased liquidity and credit supply to boost consumption. Against that backdrop, we delivered a solid domestic performance by leveraging our operational powers and tech China business achieved an increase in take rate from 3.3% to 3.4% sequentially, thanks to our strong partnerships with 114 funding partners that led to a 10-basis-point decline in funding cost. On the credit front, day one delinquency also improved by 10 basis points to 4.6% and our 30-day loan collection rate held steady at 89%.Turning to our international markets. Although GDP growth in Indonesia and the Philippines showed marginally due to trade tensions and the tariff uncertainty, the overall economy remained resilient, bolstered by a large population with solid domestic consumption credit demand for underserved communities in our foodprint market continues to support our strong growth trajectory. Our total international transaction volume exceeded RMB3 billion for the first time, up 36% year over year and 5% sequentially. Outstanding loan balance rose to RMB1.9 billion, up 46% year over year and 9% sequentially. Our cumulative international borrower base has now reached around 8 million Notably, our unique borrowers sold to a record high of 1.7 million in the first quarter, marking an impressive 106% year-over-year increase. As a result, revenue from international markets increased to RMB711 million, up 19.5% year over for Indonesia, while we experienced some seasonal impact in March due to Ramadan, growth continued at a measured pace in the first quarter. Indonesia's consumer confidence index stayed above 120, maintaining its high level for nearly 2.5 years. Unemployment also reached its lowest level in the past 10 years during the first quarter. The change in the interest rate cap imposed at the end of 2024 has had a limited impact on our business as our average loan tenure in Indonesia is less than 6 months. Moving forward, we will closely monitor potential effects from macro economy and domestic transaction volume in Indonesia reached RMB1.8 billion, up 10% year over year, while outstanding balance hit RMB1.2 billion, up 18% year over year. Our user base continued to expand with unique borrowers reaching 671,000, up 32% year over the interest rate cap overhang resolved, we allocated more resource to marketing and focus on quality growth, driving an increase in our new borrowers to 312,000 this quarter, up 69% year over year and 4% sequentially, bringing cumulative borrowers in Indonesia to 5.3 million. We also continue to diversify into offline consumption loan under the multifinance license we acquired, broadening our reach to near-prime customers through scenarios like mobile phone and electronic purchase. All of these efforts drove solid growth in Indonesia amid the seasonal impact of let's zoom in on the Philippines, where we achieved rapid growth and profitability despite Q1 being the traditional low season. In the fourth quarter, our transaction volume in the Philippines reached RMB1.2 billion, up 118% year over year and 18% sequentially. Outstanding loan balance also grew to RMB693 million, up 142% year over year and 26% sequential increase. It accounted for 37% of our international loan balance compared with 23% in the first quarter of 2024. Our outstanding performance in the Philippines has been driven by several key factors, including ongoing improvements in risk management and deeper collaboration with major e-commerce platforms to expand buy now pay later excellent asset quality has consistently attracted institutional funding partners. This quarter, we onboarded the Union Digital Bank as funding partner with several additional institutions in the pipeline. The percentage of loan facilitated by local financial institutions remained around 70% for the quarter. Buy now, Pay later business continued to grow, contributing 30% of Q1 volume, up from 19% in 2024. Going forward, we are confident of maintaining rapid transaction volume growth in the Philippines as we cement our rules in the country, further expand our funding sources and diversify our business on to our financial metrics. This quarter's operational excellence resulted in a strong financial performance. Net revenue for the quarter reached RMB3.5 billion, marking a 10% increase year over year and a 1% increase sequentially despite the low season. Net income was RMB738 million, representing a 39% increase year over year and an 8% sequential increase. Meanwhile, sales and marketing expenses rose by 18% year over year to RMB530 million as we continue to strengthen efforts to acquire new borrowers of higher qualities in both China and international ratio, defined as risk-bearing assets divided by shareholders' equity improved to around 2.7 times. Our total liquidity position consisting of cash and cash equivalents plus short-term investments remained strong at RMB8.5 billion. Next, a brief update on our ongoing efforts to enhance shareholder value. Since 2018, we have continuously returned value to our shareholders in the form of share repurchase and dividends. Recently, our Board of Directors approved our seventh annual dividend in the amount of USD0.277 per ADS, reflecting a EPS increase of 17% year over dividend was distributed on May 7, 2025, bringing our total dividend distribution to shareholders for fiscal year 2024 to USD70.3 million. In summary, strong execution of our local excellence and global outlook strategy drove continued growth in the first quarter of 2025 despite macro headwinds and seasonal softness. We remain confident in capitalizing on China's recovery while maintaining momentum in our international expansion. As such, we are reiterating our 2025 full-year revenue guidance of RMB14.4 billion to RMB15 billion, representing 10% to 15% growth year over that, I will now hand it over to Q&A. Operator, please continue. Operator (Operator Instructions) And for the benefit of all participants on today's call, if you wish to ask your question to management in Chinese, we ask that you please kindly repeat your question in Wang, China Renaissance. Cindy Wang (spoken in Chinese) Thanks for taking my question and Congrats for the great first quarter results. So I have two questions here. First, with recent new regulation on loan facilitation in China, do you see any business impact from it? And what's our basis adjustment for this?And second, so given the recent US tariff uncertainty, have you seen any impact on the Indonesia or Philippines consumption loan demand since April? And how do you expect the international new loan volume in second quarter? Thank you. Jiayuan Xu Okay. Thanks, Cindy. I will take your first question, and Tim will take your second question. Well, your first question is about the new regulations. Yes, it's about the loan facilitation model and the new regulation was announced in April and will be effective in October.I think it's the first time to clearly define the core model of loan facilitation as the loans issued by the traditional financial institutions through the external third-party platforms. So it marks the official inclusion of the loan facilitation business in China's financial regulatory framework and to reference the regulatory authorities formal recognition across the sector. Meanwhile, we noted that the regulations were just following the regulators' focus on consumer finance. We believe it's a positive signal to promote the healthy development of the industry and then to encourage the increase in supply of consumer finance products and boost the consumers' confidence. And if we look at some details in the regulation, we can find the final version to be relatively moderate stance compared with the draft ones as the focus is more on qualitative aspects than the quantitative according to the regulation, banks now are required to implement a white list management system for those cooperative Internet platforms. And the financing costs are clearly defined with all revenue costs should be included and disclosed in the contracts. So we think it will promote the industry's compliance level and benefit those leading platforms, which have the adequate capital, the strong risk management capabilities and high compliance standards. So in conclusion, we believe the overall impact of the new regulation is manageable and it's very -- it's crucial for the long-term development of the industry, okay? Tiezheng Li Cindy, I will answer the second question. Yes, we do have observed the global trade tensions, have introduced certain economic challenges to Southeast Asia. Some of the trade-oriented economies in the region are encountering slower-than-expected economic growth. And right now, many countries are currently engaged in negotiations with the United States to secure favorable tariff rates. And this year, the macroeconomic trend of Indonesia and the Philippines are the first quarter, Indonesia's GDP growth rate decreased to 4.9%, slightly below the 5.2% target. And PMI in April declined by 11% month-on-month to 46.7%. While in the Philippines, GDP growth came in at 5.4%, up slightly by 0.1% from previous quarter and keeping it among Asia fastest-growing economies. Domestic demand continues to drive the economy with consumer spending making up nearly 80% of GDP in Q1. Fortunately, our customers are mainly consumers and the loan demands are less affected by the trade the ground, we've seen some seasonal softness in Indonesia. Remittance slowed things down a little bit, but volume were still up nearly 10% year over year. We expect a nice rebound in Q2 with sequential growth. In the Philippines, it's been a strong start in Q1. Volume jumped 18% quarter on in Q2, we are projecting another solid quarter with good sequential growth. Thank you, Cindy. Operator Alex Ye, UBS. Alex Ye (spoken in Chinese) So I have two questions. First one is on the loan application demand trend in China in the past two months. And do you plan to tighten the credit approval preemptively given the rising macro uncertainty? And how would that impact your full year's loan volume outlook?The second question is regarding the drivers for the improved take rate for the China business and the outlook ahead. Thank you. Jiayuan Xu Thanks, Alex. I will take your questions. Your first question is about the credit demand in April and May. We have delivered solid results in the first quarter. And in terms of the loan application demand, we observed the rate holding steady in April and April, we saw a slight month-over-month decline and rebounded in May has surpassed the March levels. And historically, the main demand tends to be softened slightly due to the seasonal holidays. But this year, we are seeing the moderately better demand. Yes, so that's about the application rate. And in terms of the credit performance, yes, it showed steady improvement in the first quarter and have remained stable in the second quarter so the macro economy still has a lot of uncertainties and given the moderately supportive demand, we have selectively adjusted our risk appetite for marginal assets. And meanwhile, we will closely monitor the macroeconomic trends and the industry development and will dynamically balance between the risk management and the business growth. The performance of April and May, the transaction volumes indicate that a healthy growth trajectory has emerged. So given our current business performance and operation capabilities, we are confident in achieving our guidance of 10% to 15% full-year revenue growth, okay? So that's about the first your second question is about the take rate in our domestic business. Yes. In the first quarter, our take rate in China increased by 10 basis points sequentially, primarily driven by several factors: number one, we further improved the funding cost by 10 basis points quarter-over-quarter; and number two, our loan tenure extended slightly from 8 months to 8.2 months with the improved risk performance. Currently, both risk metrics and funding costs are at historical favorable levels. And looking ahead, we expect that both will remain it will stabilize the take rate at current level. We will continue to drive high-quality growth in China market with refined operations and management. Operator Yada Li, CICC. Yada Li (spoken in Chinese) Then I'll do the translation.I was wondering if you could give more color on the latest business updates regarding the international expansion. Any guidance for revenue and profit in 2025? And besides Indonesia and Philippines, could you elaborate more about the development of other regions as well? That's all. Thank you. Jiayuan Xu Okay. Thanks, Yada. I will take your question. Well, for international markets, despite the uncertainties in the macroeconomic environment, with our proven technological capabilities and the risk control expertise across those diverse markets, it enabled us to deliver a strong first quarter performance. The transaction volume in our international market surpassed RMB3 billion for the first time in this quarter with a year-over-year increase of 36% and a quarter-over-quarter increase of 5%.And the number of unique borrowers reached a historical high at 1.7 million with a triple-digit year-over-year growth. And the revenue from our international market boosted to RMB711 million, marking a year-over-year increase of nearly 20% and accounting for 20.4% of total revenue. And in terms of the revenue and the profit, we maintain our full year revenue growth target of 10% to 15%. The contribution from international markets is expected to increase to 25%. That indicates the growth rate of international revenue will outpace the overall the first quarter, Indonesia and the Philippines collectively achieved a modest profit aligned with our projection. And looking ahead, we expect they will generate a minimum net profit of $10 million in our expansion into the new markets, we have mentioned in the early earnings call, we shared that we recently obtained the banking finance company license in Pakistan. And operation in Pakistan is still in an early stage. Meanwhile, we were actively exploring the new countries to support our long-term means we will -- we aim to deliver at least 15% revenue contribution from international markets by 2030. We would be happy to share if there are any updates. Operator As there are no further questions at this time, I'd now like to turn the call back over to the company for closing remarks. Yam Cheng Okay. Thank you once again for joining us today. If you have any further questions, please feel free to contact us and our Investor Relations team. Thank you so much. Operator Thank you. This concludes this conference call. You may now disconnect your lines. Thank you.
Yahoo
03-04-2025
- Business
- Yahoo
FinVolution Engages in Fintech Globalization Talks with UN and Pakistani Officials
BEIJING, April 3, 2025 /PRNewswire/ -- On March 28, CEO of FinVolution Group (NYSE: FINV), Tiezheng Li, met with former United Nations Under-Secretary General Zukang Sha and Munir Akram, Permanent Representative of Pakistan to the UN, to discuss approaches for the globalization of fintech companies, inclusive finance practices, and technology exchanges. The meeting was also attended by Khalil Hashmi, Pakistan's Ambassador to China, and other dignitaries. During the discussions, Zukang Sha recognized FinVolution's efforts in advancing inclusive finance and expanding its global footprint. He emphasized the importance of regulatory compliance and cross-cultural management in fintech expansion, highlighting the need for international partnerships to drive sustainable financial ecosystems. Tiezheng Li shared insights into FinVolution's globalization strategy, outlining the company's growth across key markets. Since its initial international expansion in 2018, FinVolution has established fully localized operations in Indonesia, the Philippines, and Pakistan, while also extending its intelligent financial technology services to Latin America. The company remains committed to leveraging scalable technology to enhance financial inclusion and support economic development in emerging markets. Daira, a fintech platform launched by FinVolution in Pakistan, already obtained a Non-Banking Financial Company (NBFC) license from the Securities and Exchange Commission of Pakista in 2024, enabling it to provide localized and secure fintech services customized for the Pakistani market. This initiative reflects FinVolution's approach of integrating global expertise with localized solutions to meet the diverse needs of different markets. As FinVolution continues to strengthen its international presence, 2024 has been marked by key milestones, including securing new financial licenses, expanding partnerships with financial institutions in Indonesia and the Philippines, and reinforcing its on-the-ground operations. The company remains focused on driving sustainable fintech growth and fostering global financial inclusion through responsible innovation. View original content to download multimedia: SOURCE FinVolution Group Sign in to access your portfolio
Associated Press
18-03-2025
- Business
- Associated Press
FinVolution Group Reports Strong Growth and Global Expansion in 2024
SHANGHAI, March 18, 2025 /PRNewswire/ -- FinVolution Group (NYSE: FINV), a leading fintech company, today announced its unaudited financial results for 2024, highlighting continued global expansion, strategic collaborations, and advancements in AI-driven credit technology. FinVolution reported annual revenue of US$1.8 billion, a 4.1% year-over-year increase, with net profit remaining stable at US$327.1 million. Transaction volume reached US$28.2 billion, up 6.1%, while outstanding loan balance rose to US$9.8 billion, also a 6.1% increase. FinVolution Group's CEO, Tiezheng Li commented, 'We successfully leveraged our strengths in technology, customer acquisition, and retention to deliver solid results despite a challenging environment in 2024. These achievements strengthen our confidence for 2025 and beyond—becoming the leading fintech player across the Pan-Asian region.' FinVolution Group's CFO, Jiayuan Xu, stated: 'Over the past year, FinVolution achieved solid growth and demonstrated healthy financial performance. In 2024, we allocated US$160.4 million to shareholder returns, accounting for approximately 49.1% of our annual net profit. Since 2018, we have returned a total of approximately US$765 million to our shareholders. This underscores our steadfast commitment to enhancing shareholder value and our strong confidence in the company's business fundamentals and cash flow outlook.' Accelerating International Growth FinVolution's international business continued its strong momentum, contributing 21.4% of total revenue in Q4 2024. The company acquired 2.2 million new borrowers outside of its Chinese market in 2024, a 61% year-over-year increase, with international transaction volume surpassed US$1.4 billion, while the outstanding loan balance grew 31% to US$232.9 million. To support its global expansion, FinVolution secured key financial licenses across multiple markets, including: A Non-Banking Financial Company (NBFC) license from the Securities and Exchange Commission of Pakistan (SECP). Acquired a large majority stake in an Indonesian multi-finance company, enabling FinVolution to diversify its products into offline consumption loans with different scenarios such as mobile and electronic devices. Accreditation as a Special Accessing Entity (SAE) by the Credit Information Corporation (CIC) of the Philippines. Strengthening Partnerships and Expanding Financial Inclusion Following a successful transition to higher-quality borrowers in FinVolution's largest overseas market, Indonesia, transaction volume in the second half of 2024 grew to US$506.9 million, up 11% compared to the first half of 2024. The company also strengthened its funding network, adding Super Bank, bringing its total active funding partners to 10 in Indonesia. In the Philippines, FinVolution became the first company to introduce institutional funding through its loan facilitation model, collaborating with 5 leading institutional funding partners. The company also expanded its Buy Now, Pay Later (BNPL) services, embedding fintech solutions directly into major e-commerce platforms to enhance financial access for consumers. Looking ahead, FinVolution aims to generate 50% of its revenue from international markets by 2030 under its 'Local Excellence, Global Outlook' strategy. Building on its success in Indonesia and the Philippines, the company is accelerating expansion into Pakistan and other countries in 2025. Driving Innovation with AI-Powered Credit Technology FinVolution continues to push the boundaries of AI-driven credit technology, leveraging Large Language Models (LLMs) to optimize every stage of the credit lifecycle. In 2024, the company officially registered its proprietary LLM, 'Rice Seeds', designed to enhance credit risk assessment, fraud detection, and customer interactions. The company also launched Zeta, an AI-powered application platform, complementing its E-LADF AI development platform introduced in 2023. These two platforms have enabled an intelligent ecosystem covering customer acquisition, risk control, and user engagement, supporting over 1,000 AI applications that have significantly improved operational efficiency and user experience: Customer Acquisition: AI-driven advertising technology reduced marketing material production costs by 60%. Risk Management: Proprietary visual AI models improved fraud detection accuracy to 99%, leveraging background template recognition and ID verification algorithms. Customer Engagement: AI-powered behavioral and conversational KYC tagging optimized customer service strategies, boosting overall user conversion rates by 9%. Customer Support: AI-generated call summaries and user sentiment analysis increased operational efficiency by 20 times. As FinVolution continues to scale its global footprint, the company remains committed to leveraging cutting-edge AI and fintech solutions to drive financial inclusion and sustainable growth.
Yahoo
17-03-2025
- Business
- Yahoo
FinVolution Group Announces New Share Repurchase Program Up To US$150 million
SHANGHAI, March 17, 2025 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform in China, Indonesia and the Philippines, today announced that the board of directors of the Company (the "Board") has authorized a new share repurchase program (the "New Share Repurchase Program") effective on March 20, 2025. Pursuant to the New Share Repurchase Program, the Company may repurchase up to US$150.0 million worth of its shares (including ADSs) during the period from March 20, 2025 to March 19, 2027. Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution Group, said, "We remain dedicated to increasing shareholder value. Since the initial launch of our first share repurchase program on March 21, 2018, through December 31, 2024, we have cumulatively deployed approximately US$370.0 million to repurchase the Company's ADSs. We believe that the current external environment, coupled with our strong financial foundation, presents a compelling opportunity to deliver shareholder value. This New Share Repurchase Program is also our fourth share repurchase program, reflecting our confidence in the Company's 'Local Excellence, Global Outlook' strategy, business operations and outlook." "Our Board's approval of the New Share Repurchase Program underscores the Company's effective business strategies and impressive growth trajectory," said Mr. Shaofeng Gu, Chairman and Chief Innovation Officer of FinVolution Group. "We continue to view FinVolution as an excellent investment at our current market valuation, and share buybacks serve as a useful capital management tool in the current environment. With our thriving expansion in multiple international markets and a solid balance sheet, we believe we are well-positioned to capitalize on this buying opportunity and deliver long-term sustainable growth for all our stakeholders." The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Board will review the share repurchase program periodically, and may authorize adjustment of its terms and size. About FinVolution Group FinVolution Group is a leading fintech platform with strong brand recognition in China, Indonesia and the Philippines, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2024, the Company had 208.3 million cumulative registered users across China, Indonesia and the Philippines. For more information, please visit Safe Harbor Statement This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company's marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. For investor and media inquiries, please contact: In China:FinVolution GroupHead of Capital MarketsJimmy Tan, IRCTel: +86 (21) 8030 3200 Ext. 8601Email: ir@ Piacente Financial CommunicationsJenny CaiTel: +86 (10) 6508-0677Email: finv@ In the United States:Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050E-mail: finv@ View original content: SOURCE FinVolution Group
