EX-99.1 2 tm2524094d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

Yiren Digital Reports Second Quarter 2025 Financial Results

 

BEIJING – August 21, 2025 – Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), an AI-powered platform providing a comprehensive suite of financial services in Asia, today announced its unaudited financial results for the quarter ended June 30, 2025.

 

Second Quarter 2025 Operational Highlights

 

Financial Services Business

 

·Total loans facilitated in the second quarter of 2025 reached RMB20.3 billion (US$2.8 billion), representing an increase of 34% from RMB15.2 billion in the first quarter of 2025 and increase of 57% compared to RMB12.9 billion in the same period of 2024.

 

·Cumulative number of borrowers served reached 13,536,838 as of June 30, 2025, representing an increase of 5% from 12,909,436 as of March 31, 2025, and increase of 25% compared to 10,807,497 as of June 30, 2024.

 

·Number of borrowers served in the second quarter of 2025 was 1,637,912, representing an increase of 19% from 1,375,406 in the first quarter of 2025 and 10% increase compared to 1,491,756 in the same period of 2024. The increase was driven by strong demand for our small revolving loan products.

 

·Outstanding balance of performing loans facilitated reached RMB31.2 billion (US$4.4 billion) as of June 30, 2025, representing an increase of 14% from RMB27.5 billion as of March 31, 2025 and compared to RMB21.8 billion as of June 30, 2024.

 

Insurance Brokerage Business

 

·Gross written premiums in the second quarter of 2025 were RMB850.1 million (US$118.7 million), representing an increase of 6% from RMB801.8 million in the first quarter of 2025 and 20% decrease compared to RMB1,060.9 million in the same period of 2024. The increase was attributed to a gradual recovery of the sales of our insurance products post the regulatory changes.

 

“We are pleased to report another strong quarter, driven by the continued success of our AI-powered strategy. Our advanced AI capabilities have delivered quantifiable results—more personalized customer engagement, enhanced risk management with predictive analytics and fraud detection, and improving service efficiency with compliant, tailored solutions. This robust AI foundation enables us to innovate faster, exceed customer expectations, and optimize operational performance.” said Mr. Ning Tang, Chairman and Chief Executive Officer. 

 

“Our growth is further fueled by three strategic priorities: AI innovation, geographic expansion, and operational excellence. These initiatives are accelerating momentum across our core business while unlocking new opportunities through our proprietary AI platform. By executing on this strategy, we are well-positioned to sustain long-term success.”

 

 

 

 

“Our second quarter results demonstrate the Company’s operational resilience and mark a return to profitability growth following five consecutive quarters of decline. We are pleased to report robust revenue and profit expansion across our technology segment and international operations, which underscore the strength of our strategic positioning in these key growth areas.” Mr. William Hui, Chief Financial Officer commented. “Our continued positive cash flow performance in the second quarter positions us to weather market uncertainty and make targeted investments in priority areas to support future growth.”

 

Second Quarter 2025 Financial Results

 

Total net revenue in the second quarter of 2025 was RMB1,652.1 million (US$230.6 million), representing an increase of 10% from RMB1,496.5 million in the second quarter of 2024. Particularly, in the second quarter of 2025, revenue from financial services business was RMB1,489.6 million (US$207.9 million), representing an increase of 75% from RMB851.0 million in the same period of 2024. The increase was attributed to persistent demand for our small revolving loan products, as well as a growing repeat borrowing rate among existing borrowers. The financial service revenue accounts for 90% of the total net revenue. Revenue from insurance brokerage business was RMB58.1 million (US$8.1 million), representing a decrease of 36% from RMB91.5 million in the second quarter of 2024. The decrease was attributable to lower overall commission rates and product changes. Net revenue from consumption and lifestyle business and others was RMB104.4 million (US$14.6 million), compared with the revenue of RMB554.0 million in the second quarter of 2024. The decrease was mainly attributed to our strategic decision to wind down this segment and refocus on our core financial services. Additionally, referral revenue—generated when customers were referred to other platforms for a fee—was reclassified to the financial services business segment, as these customers were originally sourced from that business unit.

 

Sales and marketing expenses in the second quarter of 2025 were RMB345.2 million (US$48.2 million), compared to RMB285.1 million in the same period of 2024. This increase was due to increase in loan facilitation volume.

 

Origination, servicing and other operating costs in the second quarter of 2025 were RMB160.9 million (US$22.5 million), compared to RMB246.5 million in the same period of 2024. This decrease was primarily due to lower commission costs resulting from lower sales volume from our insurance brokerage business.

 

Research and development expenses in the second quarter of 2025 were RMB107.7 million (US$15.0 million), compared to RMB55.8 million in the same period of 2024. The increase is attributable to increase in AI spending, R&D headcount and capital investment in technology.

 

General and administrative expenses in the second quarter of 2025 were RMB78.9 million (US$11.0 million), compared to RMB68.7 million in the same period of 2024. The increase was primarily due to increase in personnel related costs to support the growth of the business.

 

 

 

 

Allowance for contract assets, receivables and others in the second quarter of 2025 was RMB214.7 million (US$30.0 million), compared to RMB123.3 million in the same period of 2024. The increase reflects higher growth in volume of loans facilitated.

 

Provision for contingent liabilities in the second quarter of 2025 was RMB385.7 million (US$53.8 million), compared to RMB278.9 million in the same period of 2024. The increase is attributable to increase in loan volume facilitated under risk-taking model. [1]

 

Fair value adjustments gain/(loss) in the second quarter of 2025 was a gain of RMB28.0 million (US$3.9 million) compared to a loss of RMB58.4 million in first quarter 2025 and a gain of RMB38.7 million in the same period of 2024. The quarterly change was mainly due to the fair value change in crypto assets, driven by an increase in the price of Ethereum. As of June 30, 2025, the company holds 11,197.5 Ethereum.

 

Income tax expense in the second quarter of 2025 was RMB63.9 million (US$8.9 million). 

 

Net income in the second quarter of 2025 was RMB357.5 million (US$49.9 million), as compared to RMB409.5 million in the same period in 2024. The decrease was primarily due to the growing loan volume facilitated under our risk-taking model, resulting in substantial upfront provisions required by the current accounting principles.

 

 

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

 

 

 

 

Adjusted EBITDA[2] (non-GAAP) in the second quarter of 2025 was RMB351.4 million (US$49.1 million), compared to RMB484.7 million in the same period of 2024 and RMB325.0 million in the first quarter of 2025.

 

Basic and diluted income per ADS in the second quarter of 2025 were RMB4.1356 (US$0.5774) and RMB4.1072 (US$0.5734) respectively, compared to a basic income per ADS of RMB4.7390 and a diluted income per ADS of RMB4.6880 in the same period of 2024. 

 

Net cash generated from operating activities in the second quarter of 2025 was RMB411.2 million (US$57.4 million), compared to RMB368.9 million in the same period of 2024. 

 

Net cash used in investing activities in the second quarter of 2025 was RMB752.2 million (US$105.0 million), compared to RMB536.9 million in the same period of 2024.

 

Net cash provided by financing activities in the second quarter of 2025 was RMB447.6 million (US$62.5 million), compared to RMB125.9 million used in financing activities in the same period of 2024. 

 

As of June 30, 2025, cash and cash equivalents were RMB4,098.9 million (US$572.2 million), compared to RMB4,043.6 million as of March 31, 2025. As of June 30, 2025, the balance of financial investment was RMB418.9 million (US$58.5 million), compared to RMB404.1 million as of March 31, 2025.

 

Delinquency rates[3]. As of June 30, 2025, the delinquency rates for loans that are past due for 1-30 days, 31-60 days and 61-90 days were 1.7%, 1.1% and 1.0%, respectively, compared to 1.6%, 1.2% and 1.2%, respectively, as of March 31, 2025. 

 

Dividend Policy

 

Under the Company’s semi-annual dividend policy, the Company will distribute a cash dividend for the first half of 2025, 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 October 15, 2025 to holders of the Company’s ordinary shares and ADSs of record as of the close of business on September 30, 2025, based on Hong Kong time and New York time, respectively.

 

 

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.

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.

 

 

 

 

Business Outlook

 

Based on the Company’s preliminary assessment of business and market conditions, the Company projects the total revenue in the third quarter of 2025 to be between RMB1.4 billion and RMB1.6 billion, driven by loan growth from domestic market and international markets, and further market penetration into new customer segment.

 

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 RMB7.1636 to US$1.00, the effective noon buying rate on June 30, 2025, 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 August 21, 2025 (or 8:00 p.m. Beijing/Hong Kong Time on August 21, 2025).

 

Participants who wish to join the call should register online in advance of the conference at:  

https://dpregister.com/sreg/10202094/ffb82a2282

 

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=NNUZyFMv

 

 

 

 

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 services in Asia. Our mission is to elevate customers' financial well-being and enhance their quality of life by delivering digital financial services and tailor-made insurance solutions. 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 financial security of individuals, families, and businesses.

 

 

 

 

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 Six Months Ended 
   June 30,
2024		   March 31,
2025		   June 30,
2025		   June 30,
2025		   June 30,
2024		   June 30,
2025		   June 30,
2025		 
   RMB   RMB   RMB   USD   RMB   RMB   USD 
Net revenue:                                   
Loan facilitation services   695,532    742,394    874,584    122,087    1,371,827    1,616,978    225,721 
Post-origination services   1,290    1,744    10,463    1,461    3,062    12,207    1,704 
Guarantee services   68,934    318,397    316,942    44,243    85,787    635,339    88,690 
Financing services   19,574    41,887    65,821    9,188    30,240    107,708    15,036 
Insurance brokerage services   91,526    71,460    58,137    8,116    216,452    129,597    18,091 
Electronic commerce services   523,641    184,074    93,962    13,117    1,026,577    278,036    38,812 
Others   96,039    194,570    232,191    32,412    140,675    426,761    59,574 
Total net revenue   1,496,536    1,554,526    1,652,100    230,624    2,874,620    3,206,626    447,628 
Operating costs and expenses:                                   
Sales and marketing   285,101    276,952    345,166    48,183    562,324    622,118    86,844 
Origination,servicing and other operating costs   246,542    224,738    160,859    22,455    479,812    385,597    53,827 
Research and development   55,812    85,954    107,693    15,033    96,333    193,647    27,032 
General and administrative   68,670    95,837    78,862    11,009    152,344    174,699    24,388 
Allowance for contract assets, receivables and others   123,285    152,805    214,698    29,971    225,619    367,503    51,301 
Provision for contingent liabilities   278,925    410,763    385,674    53,838    346,183    796,437    111,178 
Total operating costs and expenses   1,058,335    1,247,049    1,292,952    180,489    1,862,615    2,540,001    354,570 
Other income/(expenses):                                   
Investment income *   8,301    1,972    2,245    313    10,711    4,217    589 
Interest income   16,367    22,234    22,353    3,120    41,670    44,587    6,224 
Fair value adjustments gain/(loss)   38,706    (58,376)   28,018    3,911    54,174    (30,358)   (4,238)
Others, net   (11)   674    14,084    1,967    666    14,758    2,059 
Total other income/(expenses)   63,363    (33,496)   66,700    9,311    107,221    33,204    4,634 
Income before provision for income taxes   501,564    273,981    425,848    59,446    1,119,226    699,829    97,692 
Share of results of equity investees   -    (129)   (4,431)   (618)   -    (4,560)   (636)
Income tax expense   92,036    26,346    63,877    8,917    223,815    90,223    12,595 
Net income   409,528    247,506    357,540    49,911    895,411    605,046    84,461 
                                    
Weighted average number of ordinary shares outstanding, basic   172,831,722    172,800,275    172,907,793    172,907,793    173,557,082    172,854,331    172,854,331 
Basic income per share   2.3695    1.4323    2.0678    0.2887    5.1592    3.5003    0.4886 
Basic income per ADS   4.7390    2.8646    4.1356    0.5774    10.3184    7.0006    0.9772 
                                    
Weighted average number of ordinary shares outstanding, diluted   174,711,554    173,935,749    174,102,643    174,102,643    175,457,062    174,019,493    174,019,493 
Diluted income per share   2.3440    1.4230    2.0536    0.2867    5.1033    3.4769    0.4854 
Diluted income per ADS   4.6880    2.8460    4.1072    0.5734    10.2066    6.9538    0.9708 
                                    
Unaudited Condensed Consolidated Cash Flow Data                                   
Net cash generated from operating activities   368,908    478,650    411,224    57,405    1,000,651    889,874    124,222 
Net cash used in investing activities   (536,883)   (145,590)   (752,200)   (105,003)   (1,220,580)   (897,790)   (125,327)
Net cash (used in)/provided by financing activities   (125,884)   (80,576)   447,588    62,481    (140,658)   367,012    51,233 
Effect of foreign exchange rate changes   (896)   2,367    (9,412)   (1,314)   444    (7,045)   (983)
Net (decrease)/increase in cash, cash equivalents and restricted cash   (294,755)   254,851    97,200    13,569    (360,143)   352,051    49,145 
Cash, cash equivalents and restricted cash, beginning of period   5,993,216    4,101,557    4,356,408    608,131    6,058,604    4,101,557    572,555 
Cash, cash equivalents and restricted cash, end of period   5,698,461    4,356,408    4,453,608    621,700    5,698,461    4,453,608    621,700 

 

* Due to the expansion in the types of the Company's investments, investment income has been separately presented, split out from the original interest income, to reflect the realized gains from the Company's financial investments, and historical periods have been restated to enhance investors' comprehension of the Company's financial statements.

 

 

 

 

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)

 

   As of 
   December 31,
2024		   March 31,
2025		   June 30,
2025		   June 30,
2025		 
   RMB   RMB   RMB   USD 
Cash and cash equivalents   3,841,284    4,043,590    4,098,851    572,178 
Restricted cash   260,273    312,818    354,757    49,522 
Accounts receivable   566,541    583,542    553,660    77,288 
Guarantee receivable   474,132    620,241    656,019    91,577 
Contract assets, net   1,008,920    1,114,576    1,319,246    184,160 
Contract cost   294    425    4,880    681 
Prepaid expenses and other assets   2,361,585    2,299,149    2,486,393    347,087 
Loans at fair value   421,922    314,790    480,915    67,133 
Financing receivables   17,515    22,040    484,733    67,666 
Amounts due from related parties   3,387,952    3,284,281    3,131,581    437,152 
Financial investments   437,203    404,059    418,856    58,470 
Equity investments   9,239    9,110    4,633    647 
Property, equipment and software, net   78,678    78,358    85,155    11,887 
Crypto assets   -    148,062    203,541    28,413 
Deferred tax assets   77,463    1    128,989    18,006 
Right-of-use assets   39,695    38,917    37,190    5,191 
Total assets   12,982,696    13,273,959    14,449,399    2,017,058 
Accounts payable   43,167    79,882    61,580    8,596 
Amounts due to related parties   129,629    99,616    81,688    11,403 
Guarantee liabilities-stand ready   606,886    809,726    889,343    124,148 
Guarantee liabilities-contingent   578,797    756,699    848,704    118,474 
Deferred revenue   9,479    482    515    73 
Payable to investors at fair value   368,022    287,500    872,250    121,761 
Accrued expenses and other liabilities   1,622,050    1,393,592    1,582,978    220,975 
Deferred tax liabilities   41,471    54,897    91,666    12,796 
Lease liabilities   40,765    37,808    38,281    5,344 
Total liabilities   3,440,266    3,520,202    4,467,005    623,570 
Ordinary shares   132    132    132    18 
Additional paid-in capital   5,198,457    5,201,567    5,210,508    727,359 
Treasury stock   (170,463)   (170,463)   (170,686)   (23,827)
Accumulated other comprehensive income   79,268    40,903    42,195    5,890 
Retained earnings   4,435,036    4,681,618    4,900,245    684,048 
Total equity   9,542,430    9,753,757    9,982,394    1,393,488 
Total liabilities and equity   12,982,696    13,273,959    14,449,399    2,017,058 

 

 

 

 

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 Six Months Ended 
   June 30,
 2024		   March 31,
2025		   June 30,
 2025		   June 30,
 2025		   June 30,
 2024		   June 30,
 2025		   June 30,
2025		 
   RMB   RMB   RMB   USD   RMB   RMB   USD 
Operating Highlights                                   
Amount of loans facilitated   12,936,017    15,237,923    20,347,799    2,840,443    24,846,384    35,585,722    4,967,575 
Number of borrowers   1,491,756    1,375,406    1,637,912    1,637,912    2,439,778    2,466,710    2,466,710 
Remaining principal of performing loans   21,827,634    27,458,292    31,220,078    4,358,155    21,827,634    31,220,078    4,358,155 
Cumulative number of insurance clients   1,410,158    1,590,394    1,681,888    1,681,888    1,410,158    1,681,888    1,681,888 
Number of insurance clients   88,766    77,541    118,747    118,747    153,807    187,833    187,833 
Gross written premiums   1,060,885    801,798    850,080    118,667    1,973,316    1,651,878    230,593 
First year premium   577,387    412,497    440,353    61,471    1,091,528    852,850    119,053 
Renewal premium   483,498    389,301    409,727    57,196    881,788    799,028    111,540 
                                    
Segment Information                                   
Financial services business:                                   
Revenue *   851,031    1,294,480    1,489,587    207,938    1,589,148    2,784,067    388,641 
Sales and marketing expenses   253,103    260,903    332,405    46,402    505,025    593,308    82,823 
Origination, servicing and other operating costs   113,234    140,623    105,617    14,743    199,021    246,240    34,374 
Allowance for contract assets, receivables and others   124,765    152,112    216,260    30,189    225,892    368,372    51,423 
Provision for contingent liabilities   278,925    410,763    385,674    53,838    346,183    796,437    111,178 
                                    
Insurance brokerage business:                                   
Revenue   91,526    71,460    58,137    8,116    216,452    129,597    18,091 
Sales and marketing expenses   4,263    2,795    2,731    381    7,828    5,526    771 
Origination, servicing and other operating costs   122,358    81,440    52,683    7,354    259,241    134,123    18,723 
Allowance for contract assets, receivables and others   (1,502)   (578)   564    79    (490)   (14)   (2)
                                    
Consumption & lifestyle business and others:                                   
Revenue *   553,979    188,586    104,376    14,570    1,069,020    292,962    40,896 
Sales and marketing expenses   27,735    13,254    10,030    1,400    49,471    23,284    3,250 
Origination, servicing and other operating costs   10,950    2,675    2,559    358    21,550    5,234    730 
Allowance for contract assets, receivables and others   (11)   (1,994)   45    6    (2)   (1,949)   (272)
                                    
Reconciliation of Adjusted EBITDA                                   
Net income   409,528    247,506    357,540    49,911    895,411    605,046    84,461 
Interest income and investment income, net   (24,668)   (24,206)   (24,598)   (3,433)   (52,381)   (48,804)   (6,813)
Income tax expense   92,036    26,346    63,877    8,917    223,815    90,223    12,595 
Depreciation and amortization   2,026    2,297    2,643    369    3,918    4,940    690 
Share-based compensation   2,136    2,187    6,932    968    3,343    9,119    1,273 
Fair value adjustments related to crypto assets and financial investment   3,601    70,824    (54,979)   (7,675)   1,668    15,845    2,211 
Adjusted EBITDA   484,659    324,954    351,415    49,057    1,075,774    676,369    94,417 
Adjusted EBITDA margin   32.4%   20.9%   21.3%   21.3%   37.4%   21.1%   21.1%

 

* Since the referral revenue generated after the transformation of the Consumption & lifestyle business segment has all its customers originally derived from the Financial services business segment, such revenue (including the corresponding amount for the first quarter of 2025) has been reclassified from the Consumption & lifestyle business segment to the Financial services business segment.

 

 

 

 

Delinquency Rates

 

   1-30 days   31-60 days   61-90 days 
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%
December 31, 2024   1.6%   1.2%   1.1%
March 31, 2025   1.6%   1.2%   1.2%
June 30, 2025   1.7%   1.1%   1.0%

 

 

 

 

30+ Days Delinquency Rates By Vintage*

 

Loan Issued
Period		  Month on Book 
    2    4    6    8    10    12    14    16    18    20    22    24 
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%   5.7%   5.6%
2023Q2   0.7%   3.0%   4.9%   6.3%   7.0%   7.3%   7.2%   7.0%   6.9%   6.8%   6.7%   6.6%
2023Q3   0.9%   3.7%   5.8%   7.1%   7.9%   8.1%   8.0%   7.9%   7.7%   7.6%   7.5%     
2023Q4   0.8%   3.6%   5.8%   7.0%   7.6%   7.8%   7.7%   7.5%   7.4%   7.4%          
2024Q1   0.7%   3.2%   5.0%   6.1%   6.7%   7.0%   6.9%   6.9%                    
2024Q2   0.6%   2.5%   4.2%   5.3%   6.0%   6.2%   6.4%                         
2024Q3   0.6%   2.3%   3.8%   4.9%   5.5%                                   
2024Q4   0.7%   2.4%   3.9%   4.9%                                        
2025Q1   0.6%   2.3%                                                  
2025Q2   0.7%                                                       

 

* 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.