Exhibit 99.1

Yiren Digital Reports Fourth Quarter and Fiscal Year 2024 Financial Results

BEIJING – March 20, 2025 – Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced its unaudited financial results for the quarter ended December 31, 2024.

Fourth Quarter 2024 and Fiscal Year 2024 Operational Highlights

Financial Services Business

· Total loans facilitated in the fourth quarter of 2024 reached RMB15.4 billion (US$2.1 billion), representing an increase of 14.6% from RMB13.4 billion in the third quarter of 2024 and compared to RMB11.6 billion in the same period of 2023.

· Cumulative number of borrowers served reached 12,350,400 as of December 31, 2024, representing an increase of 6.4% from 11,611,899 as of September 30, 2024, and compared to 9,295,666 as of December 31, 2023.

· Number of borrowers served in the fourth quarter of 2024 was 1,560,789, representing an increase of 4.2% from 1,498,020 in the third quarter of 2024 and compared to 1,371,501 in the same period of 2023. As we successfully enhance our customer segments, the repeat rate of our high-quality borrowers continues to grow. For the fiscal year of 2024, total number of borrowers served was 4,187,502, compared to 2,891,901 in 2023.

· Outstanding balance of performing loans facilitated reached RMB24.8 billion (US$3.4 billion) as of December 31, 2024, representing an increase of 8.7% from RMB22.8 billion as of September 30, 2024 and compared to RMB18.3 billion as of December 31, 2023.

Insurance Brokerage Business

· Cumulative number of insurance clients served reached 1,532,119 as of December 31, 2024, representing an increase of 4.2% from 1,470,738 as of September 30, 2024, and compared to 1,283,102 as of December 31, 2023.

· Number of insurance clients served in the fourth quarter of 2024 was 83,786, representing an increase of 1.8% from 82,291 in the third quarter of 2024, and compared to 102,556 in the same period of 2023. Total number of insurance clients served was 296,842 in 2024, compared to 358,278 in 2023. The decrease was due to the decline in new sales of our insurance products amid regulatory changes.

· Gross written premiums in the fourth quarter of 2024 were RMB1,100.3 million (US$150.7 million), representing a decrease of 18.6% from RMB1,351.3 million in the third quarter of 2024 and compared to RMB1,208.7 million in the same period of 2023. The decrease was attributed to the ongoing impact of regulatory changes and tightening measures. Total gross written premiums were RMB4,424.9 million in 2024, compared to RMB4,893.0 million in 2023.

"We closed out the year on a strong note, delivering another solid quarter of results that were in line with our previous guidance." said Mr. Ning Tang, Chairman and Chief Executive Officer. 

"2024 marked a milestone for us with several key achievements: First, we upgraded our customer segments in the financial services business, effectively improving asset quality for sustainable growth. Second, we advanced our proprietary AI systems and integrated them across all operations, driving significant improvements in efficiency and user experience. Third, our international business met its phased objectives and achieved profitability, driven by our successful expansion in the Philippines. These successes set the foundation for our long-term, high-quality growth in the coming year."

"The year 2024 has been a strong one, with solid financial performance, as full-year revenue grew by 19%," Mr. Yuning Feng, Chief Financial Officer commented. "On the balance sheet side, as of the end of 2024, our cash and cash equivalents remained strong at RMB3.8 billion, highlighting our financial flexibility and positioning us to capitalize on strategic opportunities. Meanwhile, we are pleased to announce a cash dividend distribution for the second half of 2024, amounting to US$0.22 per American depositary share (the“ADS”), an approximately 20% payout ratio, up from 14% for the first half of 2024."

Fourth Quarter 2024 Financial Results

Total net revenue in the fourth quarter of 2024 was RMB1,452.2 million (US$199.0 million), representing an increase of 14.0% from RMB1,274.3 million in the fourth quarter of 2023. Particularly, in the fourth quarter of 2024, revenue from financial services business was RMB1,047.8 million (US$143.5 million), representing an increase of 34.1% from RMB781.3 million in the same period of 2023. The increase was attributed to the persistent and growing demand for our small revolving loan products. Revenue from insurance brokerage business was RMB106.4 million (US$14.6 million), representing an increase of 8.4% from RMB98.2 million in the fourth quarter of 2023. The increase was driven by a higher-than-expected premium renewal rate. Revenue from consumption and lifestyle business and others was RMB298.0 million (US$40.8 million), representing a decrease of 24.5% from RMB394.8 million in the fourth quarter of 2023. The decrease was mainly due to the already high penetration of our products and services within the existing customer pool, along with our strategic scale-back of product offerings as we upgrade our customer segment. The Company is conducting a strategic review of this segment to better understand its potential and identify the best ways to serve our customers. Based on the findings, we will adjust our approach and offerings to ensure we effectively meet their needs.

Sales and marketing expenses in the fourth quarter of 2024 were RMB298.5 million (US$40.9 million), compared to RMB205.7 million in the same period of 2023. The increase was primarily driven by the swift growth of our financial services segment and enhanced marketing endeavors aimed at attracting new, high-caliber customers while optimizing our customer composition.

Origination, servicing and other operating costs in the fourth quarter of 2024 were RMB197.2 million (US$27.0 million), which remained relatively stable compared to RMB184.7 million in the same period of 2023.

Research and development expenses in the fourth quarter of 2024 were RMB164.7 million (US$22.6 million), compared to RMB47.6 million in the same period of 2023. The increase was mainly attributed to our ongoing investment in AI upgrades and technological innovations.

General and administrative expenses in the fourth quarter of 2024 were RMB42.2 million (US$5.8 million), compared to RMB50.5 million in the same period of 2023. The decrease was primarily due to ongoing investments in technology and AI, which have transformed the company's personnel composition and improved operational efficiency.

Allowance for contract assets, receivables and others in the fourth quarter of 2024 was RMB203.1 million (US$27.8 million), compared to RMB100.2 million in the same period of 2023. The increase was mainly due to a higher allowance for accounts receivable and financing receivables, reflecting our prudent approach to the heightened uncertainties in future market conditions.

Provision for contingent liabilities in the fourth quarter of 2024 was RMB250.7 million (US$34.3 million), compared to a reversal of RMB1.5 million in the same period of 2023. The increase was mainly attributed to a growing volume of loans facilitated under our risk-taking model^[1].

Income tax expense in the fourth quarter of 2024 was RMB10.7 million (US$1.5 million). 

Net income in the fourth quarter of 2024 was RMB331.4 million (US$45.4 million), as compared to RMB571.3 million in the same period in 2023. The decrease was primarily due to the growing loan volume facilitated by our risk-taking model, which required substantial upfront provisions under current accounting principles, as well as increased investment in acquiring new, higher-quality borrowers and developing AI innovation and capabilities.

Adjusted EBITDA^[2] (non-GAAP) in the fourth quarter of 2024 was RMB313.9 million (US$43.0 million), compared to RMB684.8 million in the same period of 2023. 

¹ The risk-taking model refers to the framework in which the company assumes the credit risk for the loans facilitated on our platform.

² "Adjusted EBITDA" is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of "Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures" and the table captioned "Reconciliations of Adjusted EBITDA" set forth at the end of this press release.

Basic and diluted income per ADS in the fourth quarter of 2024 were RMB3.8 (US$0.5) and RMB3.8 (US$0.5) respectively, compared to a basic income per ADS of RMB6.5 and a diluted income per ADS of RMB6.5 in the same period of 2023. 

Net cash generated from operating activities in the fourth quarter of 2024 was RMB373.0 million (US$51.1 million), compared to RMB417.2 million in the same period of 2023. 

Net cash used in investing activities in the fourth quarter of 2024 was RMB32.9 million (US$4.5 million), compared to RMB260.3 million in the same period of 2023.

Net cash used in financing activities in the fourth quarter of 2024 was RMB114.3 million (US$15.7 million), compared to RMB332.3 million provided by financing activities in the same period of 2023. 

As of December 31, 2024, cash and cash equivalents were RMB3,841.3 million (US$526.3 million), compared to RMB3,705.9 million as of September 30, 2024. As of December 31, 2024, the balance of held-to-maturity investments was RMB6.6 million (US$0.9 million), compared to RMB5.1 million as of September 30, 2024. As of December 31, 2024, the balance of available-for-sale investments was RMB353.2 million (US$48.4 million), compared to RMB321.6 million as of September 30, 2024. As of December 31, 2024, the balance of trading securities was RMB77.4 million (US$10.6 million), compared to RMB63.3 million as of September 30, 2024.

Delinquency rates^[3]. As of December 31, 2024, the delinquency rates for loans that are past due for 1-30 days, 31-60 days and 61-90 days were 1.6%, 1.2% and 1.1%, respectively, compared to 1.8%, 1.2% and 1.2%, respectively, as of September 30, 2024. 

Fiscal Year 2024 Financial Results

Total net revenue in 2024 was RMB5,805.9 million (US$795.4 million), compared to RMB4,895.6 million in 2023. Specifically, revenue from financial services business in 2024 was RMB3,473.1 million (US$475.8 million), compared to RMB2,515.1 million in 2023. The increase was driven by the growing demand for our small revolving loan products. Revenue from insurance brokerage business in 2024 was RMB408.4 million (US$55.9 million), compared to RMB963.8 million in 2023. The decrease was due to the ongoing impacts from regulatory changes. Revenue from consumption and lifestyle business and others was RMB1,924.4 million (US$263.6 million), compared to RMB1,416.7 million in 2023. The overall increase was mainly due to the continuous growth of this segment in the first half of the year, followed by a strategic scale-back in the second half.

Sales and marketing expenses in 2024 were RMB1,196.4 million (US$163.9 million), compared to RMB656.6 million in 2023. The increase was primarily due to our efforts to attract new, higher-quality borrowers and the growth of our financial services business volume.

Origination, servicing and other operating costs in 2024 were RMB883.0 million (US$121.0 million), compared to RMB976.2 million in 2023. The decrease was due to the AI-driven improvement of operational efficiency as well as the decline of our insurance product sales.

Research and development expenses in 2024 were RMB411.9 million (US$56.4 million), compared to RMB148.8 million in 2023. The significant increase was driven by our ongoing investment in AI development and the expansion of our technical team.

General and administrative expenses in 2024 were RMB274.7 million (US$37.6 million), which remained relatively stable compared to RMB231.1 million in 2023.

Allowance for contract assets, receivables and others in 2024 was RMB523.6 million (US$71.7 million), compared to RMB261.2 million in 2023. The increase was mainly due to a higher allowance for accounts receivable and financing receivables, reflecting our prudent approach to the heightened uncertainties in future market conditions.

³ "Delinquency rates" refers to the outstanding principal balance of loans that were 1-30 days, 31-60 days and 61-90 days past due as a percentage of the total performing outstanding principal balance of loans as of a specific date. Loans originating outside mainland China are not included in the calculation. We define a performing loan as one that is being repaid according to the agreed terms and has not become delinquent for more than 90 days.

Provision for contingent liabilities in 2024 was RMB869.3 million (US$119.1 million), compared to RMB27.0 million in 2023. The increase was mainly attributed to the growing loan volume facilitated under our risk-taking model where upfront provision is required under current accounting principles.

Income tax expense in 2024 was RMB279.2 million (US$38.2 million).

Net income in 2024 was RMB1,582.3 million (US$216.8 million), compared to RMB2,080.2 million in 2023.

Adjusted EBITDA (non-GAAP) in 2024 was RMB1,781.8 million (US$244.1 million), compared to RMB2,578.5 million in 2023.

Basic and diluted income per ADS in 2024 were RMB18.3 (US$2.5) and RMB18.1 (US$2.5) respectively, compared to a basic per ADS of RMB23.5 and a diluted per ADS of RMB23.3 in 2023.

Net cash generated from operating activities in 2024 was RMB1,424.1 million (US$195.1 million), compared to RMB2,171.0 million in 2023.

Dividend Policy

Under the Company’s semi-annual dividend policy, the Company will distribute a cash dividend for the second half of 2024, amounting to US$0.22 per American depositary share (the “ADS”), each representing two ordinary shares of the Company, par value US$0.0001 per share. The dividend is expected to be paid on or about May 15, 2025 to holders of the Company’s ordinary shares and ADSs of record as of the close of business on April 30, 2025, based on Hong Kong time and New York time, respectively. 

Business Outlook

Based on the Company's preliminary assessment of business and market conditions, the Company projects the total revenue in the year of 2025 to be between RMB5.5 billion to RMB6.5 billion, with a healthy net profit margin.

This is the Company’s current and preliminary view, which is subject to changes and uncertainties.

Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See "Operating Highlights and Reconciliation of GAAP to Non-GAAP measures" at the end of this press release. 

Currency Conversion

This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.2993 to US$1.00, the effective noon buying rate on December 31, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board.

Conference Call

Yiren Digital's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on March 20, 2025 (or 8:00 p.m. Beijing/Hong Kong Time on March 20, 2025).

Participants who wish to join the call should register online in advance of the conference at: https://dpregister.com/sreg/10197602/feaaa46216

Once registration is completed, participants will receive the dial-in details for the conference call.

Additionally, a live and archived webcast of the conference call will be available at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=NaB0pL6P

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 Yiren Digital'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 Yiren Digital's ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital's ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE or other stock exchange, 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 Yiren Digital'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 Yiren Digital 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.

About Yiren Digital

Yiren Digital Ltd. is an advanced, AI-powered platform providing a comprehensive suite of financial and lifestyle services in China. Our mission is to elevate customers' financial well-being and enhance their quality of life by delivering digital financial services, tailor-made insurance solutions, and premium lifestyle services. We support clients at various growth stages, addressing financing needs arising from consumption and production activities, while aiming to augment the overall well-being and security of individuals, families, and businesses.

For investor and media inquiries, please contact:

Yiren Digital

Investor Relations

Email: ir@Yirendai.com

Unaudited Condensed Consolidated Statements of Operations

(in thousands, except for share, per share and per ADS data, and percentages)

	For the Three Months Ended												For the Year Ended
	December 31, 2023			September 30, 2024			December 31, 2024			December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2024
	RMB			RMB			RMB			USD			RMB			RMB			USD
Net revenue:
Loan facilitation services		722,451			600,899			748,663			102,566			2,240,852			2,721,389			372,829
Post-origination services		4,630			1,421			1,474			202			17,203			5,957			816
Insurance brokerage services		98,158			85,530			106,387			14,575			963,822			408,369			55,946
Financing services		8,564			31,448			31,551			4,323			55,974			93,239			12,774
Electronic commerce services		385,886			546,366			292,678			40,097			1,267,104			1,865,621			255,589
Guarantee services		8,590			136,746			206,766			28,327			50,865			429,299			58,814
Others		46,031			76,678			64,674			8,860			299,813			282,027			38,637
Total net revenue		1,274,310			1,479,088			1,452,193			198,950			4,895,633			5,805,901			795,405
Operating costs and expenses:
Sales and marketing		205,730			335,647			298,458			40,889			656,603			1,196,429			163,910
Origination,servicing and other operating costs		184,700			205,913			197,232			27,021			976,172			882,957			120,965
Research and development		47,586			150,840			164,703			22,564			148,754			411,876			56,427
General and administrative		50,512			80,097			42,232			5,786			231,135			274,673			37,629
Allowance for contract assets, receivables and others		100,229			94,913			203,090			27,823			261,152			523,622			71,736
Provision for contingent liabilities		(1,543	)		272,406			250,691			34,344			27,035			869,280			119,091
Total operating costs and expenses		587,214			1,139,816			1,156,406			158,427			2,300,851			4,158,837			569,758
Other income/(expenses):
Interest income, net		29,880			21,877			31,219			4,277			80,749			105,477			14,450
Fair value adjustments related to Consolidated ABFE		(13,394	)		36,423			16,935			2,320			(50,171	)		107,532			14,732
Others, net		8,504			2,535			(1,353	)		(186	)		20,000			1,848			253
Total other income		24,990			60,835			46,801			6,411			50,578			214,857			29,435
Income before provision for income taxes		712,086			400,107			342,588			46,934			2,645,360			1,861,921			255,082
Share of results of equity investees		-			-			(440	)		(60	)		-			(440	)		(60	)
Income tax expense		140,818			44,665			10,702			1,466			565,163			279,182			38,248
Net income		571,268			355,442			331,446			45,408			2,080,197			1,582,299			216,774
Weighted average number of ordinary shares outstanding, basic		175,445,539			175,018,644			172,723,644			172,723,644			176,749,706			173,256,348			173,256,348
Basic income per share		3.2561			2.0309			1.9189			0.2629			11.7692			9.1327			1.2512
Basic income per ADS		6.5122			4.0618			3.8378			0.5258			23.5384			18.2654			2.5024
Weighted average number of ordinary shares outstanding, diluted		177,106,305			176,035,324			173,727,886			173,727,886			178,688,319			174,711,569			174,711,569
Diluted income per share		3.2256			2.0192			1.9078			0.2614			11.6415			9.0566			1.2408
Diluted income per ADS		6.4512			4.0384			3.8156			0.5228			23.2830			18.1132			2.4816
Unaudited Condensed Consolidated Cash Flow Data
Net cash generated from operating activities		417,232			50,393			373,038			51,106			2,171,013			1,424,082			195,098
Net cash  (used in)/provided by investing activities		(260,331	)		(1,859,587	)		(32,948	)		(4,514	)		100,045			(3,113,115	)		(426,495	)
Net cash provided by/(used in) financing activities		332,309			(22,227	)		(114,341	)		(15,665	)		(569,278	)		(277,226	)		(37,980	)
Effect of foreign exchange rate changes		(6,414	)		(6,252	)		15,020			2,058			(3,871	)		9,212			1,263
Net increase/(decrease) in cash, cash equivalents and restricted cash		482,796			(1,837,673	)		240,769			32,985			1,697,909			(1,957,047	)		(268,114	)
Cash, cash equivalents and restricted cash, beginning of period		5,575,808			5,698,461			3,860,788			528,926			4,360,695			6,058,604			830,025
Cash, cash equivalents and restricted cash, end of period		6,058,604			3,860,788			4,101,557			561,911			6,058,604			4,101,557			561,911

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)

	As of
	December 31, 2023			September 30, 2024			December 31, 2024			December 31, 2024
	RMB			RMB			RMB			USD
Cash and cash equivalents		5,791,333			3,705,866			3,841,284			526,254
Restricted cash		267,271			154,922			260,273			35,657
Trading securities		76,053			63,276			77,426			10,607
Accounts receivable		499,027			668,757			566,541			77,616
Guarantee receivable		2,890			391,547			474,132			64,956
Contract assets, net		978,051			916,543			1,008,920			138,221
Contract cost		32			279			294			40
Prepaid expenses and other assets		423,621			2,291,397			2,361,585			323,536
Loans at fair value		677,835			414,803			421,922			57,803
Financing receivables		116,164			28,672			17,515			2,400
Amounts due from related parties		820,181			3,338,868			3,387,952			464,148
Held-to-maturity investments		10,420			5,087			6,587			902
Available-for-sale investments		438,084			321,550			353,190			48,387
Equity investments		-			7,105			9,239			1,266
Property, equipment and software, net		79,158			80,224			78,678			10,779
Deferred tax assets		73,414			54,595			77,463			10,612
Right-of-use assets		23,382			14,454			39,695			5,438
Total assets		10,276,916			12,457,945			12,982,696			1,778,622
Accounts payable		30,902			42,712			43,167			5,912
Amounts due to related parties		14,414			96,498			129,629			17,759
Guarantee liabilities-stand ready		8,802			449,759			606,886			83,143
Guarantee liabilities-contingent		28,351			512,004			578,797			79,295
Deferred revenue		54,044			18,348			9,479			1,299
Payable to investors at fair value		445,762			350,000			368,022			50,419
Accrued expenses and other liabilities		1,463,369			1,672,111			1,622,050			222,220
Deferred tax liabilities		122,075			16,434			41,471			5,682
Lease liabilities		23,648			15,226			40,765			5,585
Total liabilities		2,191,367			3,173,092			3,440,266			471,314
Ordinary shares		130			132			132			18
Additional paid-in capital		5,171,232			5,198,271			5,198,457			712,186
Treasury stock		(94,851	)		(160,534	)		(170,463	)		(23,353	)
Accumulated other comprehensive income		23,669			21,226			79,268			10,860
Retained earnings		2,985,369			4,225,758			4,435,036			607,597
Total equity		8,085,549			9,284,853			9,542,430			1,307,308
Total liabilities and equity		10,276,916			12,457,945			12,982,696			1,778,622

Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except for number of  borrowers, number of insurance clients, cumulative number of insurance clients and percentages)

	For the Three Months Ended												For the Year Ended
	December 31, 2023			September 30, 2024			December 31, 2024			December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2024
	RMB			RMB			RMB			USD			RMB			RMB			USD
Operating Highlights
Amount of loans facilitated		11,645,528			13,392,676			15,352,533			2,103,288			36,036,301			53,591,593			7,342,018
Number of borrowers		1,371,501			1,498,020			1,560,789			1,560,789			2,891,901			4,187,502			4,187,502
Remaining principal of performing loans		18,251,550			22,768,555			24,755,199			3,391,448			18,251,550			24,755,199			3,391,448
Cumulative number of insurance clients		1,283,102			1,470,738			1,532,119			1,532,119			1,283,102			1,532,119			1,532,119
Number of insurance clients		102,556			82,291			83,786			83,786			358,278			296,842			296,842
Gross written premiums		1,208,717			1,351,311			1,100,262			150,735			4,893,042			4,424,889			606,207
First year premium		536,252			511,377			475,285			65,114			3,180,334			2,078,190			284,711
Renewal premium		672,465			839,934			624,977			85,621			1,712,708			2,346,699			321,496
Segment Information
Financial services business:
Revenue		781,306			836,193			1,047,768			143,544			2,515,119			3,473,109			475,814
Sales and marketing expenses		186,304			307,459			290,253			39,765			498,055			1,102,737			151,074
Origination, servicing and other operating costs		77,598			119,706			123,585			16,931			223,468			442,312			60,597
Allowance for contract assets, receivables and others		99,496			93,248			200,755			27,503			262,607			519,895			71,225
Provision for contingent liabilities		(1,543	)		272,406			250,691			34,344			27,035			869,280			119,091
Insurance brokerage business:
Revenue		98,158			85,530			106,387			14,575			963,822			408,369			55,946
Sales and marketing expenses		3,578			3,545			2,333			320			12,887			13,706			1,878
Origination, servicing and other operating costs		98,019			78,466			69,518			9,524			697,669			407,225			55,790
Allowance for contract assets, receivables and others		(35	)		(414	)		241			33			(390	)		(663	)		(91	)
Consumption & lifestyle business and others:
Revenue		394,846			557,365			298,038			40,831			1,416,692			1,924,423			263,645
Sales and marketing expenses		15,848			24,643			5,872			804			145,661			79,986			10,958
Origination, servicing and other operating costs		9,083			7,741			4,129			566			55,035			33,420			4,578
Allowance for contract assets, receivables and others		774			1,666			(756	)		(104	)		(771	)		908			124
Reconciliation of Adjusted EBITDA
Net income		571,268			355,442			331,446			45,408			2,080,197			1,582,299			216,774
Interest income, net		(29,880	)		(21,877	)		(31,219	)		(4,277	)		(80,749	)		(105,477	)		(14,450	)
Income tax expense		140,818			44,665			10,702			1,466			565,163			279,182			38,248
Depreciation and amortization		1,806			2,401			2,574			353			7,116			8,893			1,218
Share-based compensation		828			13,235			350			48			6,751			16,928			2,319
Adjusted EBITDA		684,840			393,866			313,853			42,998			2,578,478			1,781,825			244,109
Adjusted EBITDA margin		53.7	%		26.6	%		21.6	%		21.6	%		52.7	%		30.7	%		30.7	%

Delinquency Rates
	1-30 days			31-60 days			61-90 days
December 31, 2019		2.1	%		1.2	%		0.9	%
December 31, 2020		1.3	%		0.7	%		0.6	%
December 31, 2021		2.0	%		1.5	%		1.2	%
December 31, 2022		1.7	%		1.2	%		1.1	%
December 31, 2023		2.0	%		1.4	%		1.2	%
March 31, 2024		2.1	%		1.6	%		1.4	%
June 30, 2024		1.9	%		1.4	%		1.5	%
September 30, 2024		1.8	%		1.2	%		1.2	%
December 31, 2024		1.6	%		1.2	%		1.1	%

30+ Days Delinquency Rates By Vintage*
Loan Issued Period	Month on Book
	2			4			6			8			10			12			14			16			18			20			22			24
2019Q1		0.0	%		0.5	%		1.6	%		2.3	%		3.3	%		4.4	%		5.9	%		6.1	%		6.4	%		6.9	%		6.9	%		6.9	%
2019Q2		0.3	%		1.4	%		2.8	%		5.0	%		7.8	%		8.9	%		9.5	%		10.0	%		10.3	%		10.7	%		10.9	%		11.2	%
2019Q3		0.3	%		2.0	%		5.1	%		7.6	%		9.1	%		10.4	%		11.3	%		12.4	%		13.3	%		14.1	%		14.7	%		15.2	%
2019Q4		0.7	%		3.0	%		4.4	%		5.7	%		6.6	%		7.3	%		8.1	%		8.5	%		9.0	%		9.4	%		9.7	%		10.3	%
2020Q1		0.8	%		2.0	%		3.4	%		4.5	%		5.4	%		5.9	%		6.5	%		6.8	%		7.1	%		7.5	%		8.1	%		8.5	%
2020Q2		0.6	%		2.0	%		3.3	%		4.5	%		5.3	%		6.0	%		6.4	%		6.9	%		7.4	%		8.0	%		8.6	%		8.8	%
2020Q3		1.3	%		2.8	%		4.3	%		5.4	%		6.3	%		6.9	%		7.5	%		8.2	%		8.9	%		9.3	%		9.5	%		9.5	%
2020Q4		0.3	%		1.4	%		2.4	%		3.4	%		4.3	%		5.4	%		6.4	%		7.3	%		7.7	%		8.0	%		8.2	%		8.3	%
2021Q1		0.5	%		1.8	%		3.0	%		4.2	%		5.3	%		6.3	%		7.1	%		7.3	%		7.5	%		7.7	%		7.8	%		7.9	%
2021Q2		0.5	%		2.1	%		3.8	%		5.5	%		6.8	%		7.5	%		7.7	%		7.9	%		8.1	%		8.3	%		8.2	%		8.2	%
2021Q3		0.6	%		2.5	%		4.2	%		5.4	%		6.1	%		6.5	%		6.7	%		6.9	%		6.9	%		6.9	%		6.9	%		6.8	%
2021Q4		0.8	%		2.7	%		4.1	%		4.9	%		5.4	%		5.8	%		5.8	%		5.8	%		5.7	%		5.6	%		5.6	%		5.5	%
2022Q1		0.7	%		2.1	%		3.2	%		4.0	%		4.6	%		4.8	%		4.7	%		4.6	%		4.6	%		4.5	%		4.5	%		4.4	%
2022Q2		0.5	%		1.8	%		2.9	%		3.8	%		4.3	%		4.5	%		4.4	%		4.3	%		4.3	%		4.2	%		4.2	%		4.1	%
2022Q3		0.6	%		2.2	%		3.5	%		4.3	%		4.8	%		5.0	%		5.0	%		4.9	%		4.9	%		4.8	%		4.7	%		4.7	%
2022Q4		0.7	%		2.5	%		3.9	%		4.9	%		5.6	%		5.9	%		5.8	%		5.8	%		5.7	%		5.6	%		5.5	%		5.4	%
2023Q1		0.6	%		2.4	%		4.0	%		5.2	%		5.9	%		6.2	%		6.1	%		6.0	%		5.9	%		5.8	%		5.5	%
2023Q2		0.7	%		3.0	%		4.9	%		6.3	%		7.0	%		7.3	%		7.2	%		7.0	%		6.9	%		6.5	%
2023Q3		0.9	%		3.7	%		5.8	%		7.1	%		7.9	%		8.1	%		8.0	%		7.9	%
2023Q4		0.8	%		3.6	%		5.8	%		7.0	%		7.6	%		7.8	%		7.7	%
2024Q1		0.7	%		3.2	%		5.0	%		6.1	%		6.9	%
2024Q2		0.6	%		2.5	%		4.2	%		5.5	%
2024Q3		0.6	%		2.3	%
2024Q4		0.6	%

*The 30+ days delinquency rate by vintage refers to the outstanding principal balance of loans facilitated over a specified period that are more than 30 days past due, as a percentage of the total loans facilitated during that same period. Loans originating outside mainland China are excluded from the calculation.