News Releases

« Back
  View printer-friendly version
Yiren Digital Reports Second Quarter 2021 Financial Results
Aug 19,2021

BEIJING, Aug. 19, 2021 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading digital personal financial management platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Operational Highlights

Wealth Management

  • Cumulative number of investors served reached 2,538,656 as of June 30, 2021, representing an increase of 3.1% from 2,462,195 as of March 31, 2021 and compared to 2,223,250 as of June 30, 2020.
  • Number of active investors[1] was 385,536 as of June 30, 2021, representing an increase of 25.5% from 307,107 as of March 31, 2021, and compared to 102,658 as of June 30, 2020.
  • Total client assets[2] was RMB14,660.4 million (US$2,270.6 million) as of June 30, 2021, representing an increase of 37.3% from RMB10,678.9 million as of March 31, 2021, and compared to RMB2,628.8 million as of June 30, 2020.
  • Sales volume of investment products amounted to RMB5,343.6 million (US$827.6 million) in the second quarter of 2021, representing a decrease of 8.2% from RMB5,823.1 million in the first quarter of 2021 and compared to RMB2,186.2 million in the same period of 2020.

Consumer Credit

  • Total loans facilitated under loan facilitation model in the second quarter of 2021 reached RMB5.3 billion (US$0.8 billion), representing an increase of 6.5% from RMB4.9 billion in the first quarter of 2021 and compared to RMB1.5 billion in the second quarter of 2020.
  • Cumulative number of borrowers served reached 5,558,085 as of June 30, 2021, representing an increase of 4.7% from 5,309,727 as of March 31, 2021 and compared to 4,917,635 as of June 30, 2020.
  • Number of borrowers served in the second quarter of 2021 was 434,153 representing an increase of 25.5% from 345,939 in the first quarter of 2021 and compared to 107,568 in the second quarter of 2020.
  • Outstanding balance of performing loans facilitated under loan facilitation model reached RMB12,543.7 million (US$1,942.8 million) as of June 30, 2021, representing an increase of 12.4% from RMB11,159.2 million as of March 31, 2021 and compared to RMB4,175.8 million as of June 30, 2020.

 

[1] Active investors refer to those who have made at least one investment through our wealth management platform or have had client assets with us above zero in the past twelve months.

[2] Client assets refer to the outstanding balance of client assets generated through our platforms, where an asset is counted towards the outstanding balance for so long as it continues to be held by the investor who acquired it through our platform.

"We are pleased to deliver another solid quarter, with continued improvement in profitability and increasingly diversified revenue mix as we further navigate Yiren Digital to become a leading user-centric personal financial management platform," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "As we continue to strengthen our competitive edges and drive up our business scale, we have developed sophisticated strategies for different business lines."

"For wealth management, we are further differentiating ourselves by upgrading our services and enriching our product offerings as well as enhancing our capabilities to serve customers with higher investable assets. As of June 30, 2021, total client assets reached RMB14.7 billion, representing an increase of 37% from last quarter. Average client asset per investor further increased by 17% quarter-over-quarter to approximately RMB100,000, and the number of investors who held more than two asset classes on our Yiren Wealth platform grew by 420% from prior year, reflecting a concrete improvement in our customers' overall LTV. "

"For our credit business, we are focusing on high-quality growth and continue to take a proactive approach to transition our target borrower segment into higher-credit quality borrowers, paving the way for the launch of increasingly diversified products. Meanwhile, to echo government's focus on supporting small and micro businesses, starting from the second half of this year, we will further expand our SME segment to better promote inclusive finance."

"In the second quarter, total revenue increased by 49% year-on-year to RMB1.1 billion, of which 25% came from our wealth management business. Driven by enhanced cost control and operating efficiencies, total net income in the second quarter grew by 10% quarter-over-quarter, reflecting a healthy net income margin of 18%,"said Ms. Na Mei, Chief Financial Officer of Yiren Digital. "On the balance sheet side, our cash position remains strong with RMB2.2 billion of cash and cash equivalents as of June 30, 2021, which provides us with sufficient resilience to continue exploring new initiatives and new opportunities, and to meet any new capital requirement that may come."

Second Quarter 2021 Financial Results

Total net revenue in the second quarter of 2021 was RMB1,125.0 million (US$174.2 million), compared to RMB754.7 million in the same period last year. Revenue from wealth management business reached RMB286.8 million (US$44.4 million), representing a decrease of 11.0% from RMB322.4 million in the second quarter of 2020, primarily driven by the spin-off of our legacy business. Revenue from credit business reached RMB838.2 million (US$129.8 million), representing an increase of 93.9% from RMB432.3 million in the second quarter of 2020, primarily driven by an increase in loan volume.

Sales and marketing expenses in the second quarter of 2021 were RMB436.9 million (US$67.7 million), compared to RMB508.5 million in the same period last year. The decrease was primarily due to internal restructuring to optimize operating efficiencies.

Origination, servicing and other operating costs in the second quarter of 2021 were RMB182.7 million (US$28.3 million), compared to RMB165.2 million in the same period last year.

General and administrative expenses in the second quarter of 2021 were RMB127.7 million (US$19.8 million), compared to RMB172.6 million in the same period last year. The decrease was due to enhancement of operational efficiency.

Allowance for contract assets, receivables and others in the second quarter of 2021 was RMB93.4 million (US$14.5 million), compared to RMB168.7 million in the same period last year. The decrease was primarily due to the optimization of product mix, improved asset quality post pandemic as well as further enhancement in the Company's risk management framework.

Income tax expense in the second quarter of 2021 was RMB55.3 million (US$8.6 million).

Net income in the second quarter of 2021 was RMB200.1 million (US$31.0 million), as compared to a net loss of RMB232.2 million in the same period last year.

Adjusted EBITDA[3] (non-GAAP) in the second quarter of 2021 was RMB295.4 million (US$45.8 million), compared to a loss of RMB269.4 million in the same period last year.

Basic income per ADS in the second quarter of 2021 was RMB2.4 (US$0.4), compared to a basic loss per ADS of RMB2.5 in the same period last year.

Diluted income per ADS in the second quarter of 2021 was RMB2.4 (US$0.4), compared to a diluted loss per ADS of RMB2.5 in the same period last year.

Net cash used in operating activities in the second quarter of 2021 was RMB213.0 million (US$33.0 million), compared to RMB64.7 million in the same period last year.

Net cash used in investing activities in the second quarter of 2021 was RMB208.5 million (US$32.3 million), compared to RMB186.7 million in the same period last year.

As of June 30, 2021, cash and cash equivalents was RMB2,192.5 million (US$339.6 million), compared to RMB2,362.3 million as of March 31, 2021. As of June 30, 2021, the balance of held-to-maturity investments was RMB2.2 million (US$0.3 million), compared to RMB3.1 million as of March 31, 2021. As of June 30, 2021, the balance of available-for-sale investments was RMB224.3 million (US$34.7 million), compared to RMB234.6 million as of March 31, 2021.

Delinquency rates. As of June 30, 2021, the delinquency rates for loans facilitated that are past due for 15-29 days, 30-59 days and 60-89 days were 0.5%, 0.8% and 0.7% respectively, compared to 0.5%, 0.8% and 0.6% respectively as of March 31, 2021.

Cumulative M3+ net charge-off rates. As of June 30, 2021, the cumulative M3+ net charge-off rate for loans facilitated in 2018, 2019 and 2020 was 9.9%, 10.5% and 3.7% respectively, as compared to 10.0%, 9.7% and 2.2% respectively as of March 31, 2021.

[3]  "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.

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.

Board Composition Change

Mr. Quan Zhou will resign from the board, having fulfilled his term as a board member since January 2015, effective August 19, 2021.

"On behalf of Yiren Digital's Board of Directors, I would like to express my gratitude to Mr. Quan Zhou for his time, dedication and valuable contribution to the Company," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital.

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 RMB6.4566 to US$1.00, the effective noon buying rate on June 30, 2021, 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 19, 2021 (or 8:00 p.m. Beijing/Hong Kong Time on August 19, 2021).

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

https://apac.directeventreg.com/registration/event/9992662

Please note the Conference ID number of 9992662.

Once registration is completed, participants will receive the dial-in information for the conference call, an event passcode, and a unique registrant ID number. 

Participants joining the conference call should dial-in at least 10 minutes before the scheduled start time.

A replay of the conference call may be accessed by phone at the following numbers until August 27, 2021:

International

+61 2-9003-4211

U.S.

+1 646-254-3697

Replay Access Code:

9992662

Additionally, a live and archived webcast of the conference call will be available at ir.yirendai.com.

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 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 a leading digital personal financial management platform in China. The Company provides customized asset allocation services and wealth management solutions to China's mass affluent population as well as utilizes online and offline channels to provide retail credit facilitation services to individual borrowers and small business owners.

 

 

 

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,
2020

 

March 31,
2021

 

June 30,
2021

 

June 30,
2021

   

June 30,
2020

 

June 30,
2021

 

June 30,
2021

 

RMB

 

RMB

 

RMB

 

USD

   

RMB

 

RMB

 

USD

Net revenue:

                           

Loan facilitation services

171,084

 

542,132

 

551,373

 

85,397

   

529,625

 

1,093,505

 

169,362

Post-origination services

126,477

 

44,786

 

40,584

 

6,286

   

272,997

 

85,370

 

13,222

Account management services

300,720

 

-

 

-

 

-

   

713,886

 

-

 

-

Insurance brokerage services

19,545

 

159,704

 

151,801

 

23,511

   

19,545

 

311,505

 

48,246

Financing services

1,586

 

114,932

 

125,267

 

19,401

   

2,236

 

240,199

 

37,202

Others

135,277

 

238,409

 

256,010

 

39,651

   

240,060

 

494,419

 

76,576

Total net revenue

754,689

 

1,099,963

 

1,125,035

 

174,246

   

1,778,349

 

2,224,998

 

344,608

Operating costs and expenses:

                           

  Sales and marketing

508,466

 

405,176

 

436,882

 

67,663

   

1,124,907

 

842,058

 

130,418

  Origination,servicing and other operating
  costs

165,183

 

174,525

 

182,667

 

28,292

   

268,101

 

357,192

 

55,322

  General and administrative

172,568

 

119,865

 

127,690

 

19,777

   

321,609

 

247,555

 

38,341

  Allowance for contract assets, receivables
  and others

168,708

 

141,232

 

93,433

 

14,471

   

312,093

 

234,665

 

36,345

Total operating costs and expenses

1,014,925

 

840,798

 

840,672

 

130,203

   

2,026,710

 

1,681,470

 

260,426

Other income/(expenses):

                           

  Interest income/(expense), net

16,950

 

(10,980)

 

(22,782)

 

(3,529)

   

42,066

 

(33,762)

 

(5,229)

  Fair value adjustments related to
  Consolidated ABFE

(32,957)

 

(27,720)

 

(20,916)

 

(3,239)

   

(58,977)

 

(48,636)

 

(7,533)

  Others, net

(3,510)

 

5,122

 

14,674

 

2,273

   

8,674

 

19,796

 

3,066

Total other expenses

(19,517)

 

(33,578)

 

(29,024)

 

(4,495)

   

(8,237)

 

(62,602)

 

(9,696)

(Loss)/income before provision for income
taxes

(279,753)

 

225,587

 

255,339

 

39,548

   

(256,598)

 

480,926

 

74,486

Income tax (benefit)/expense

(47,558)

 

44,373

 

55,259

 

8,559

   

(43,622)

 

99,632

 

15,431

Net (loss)/income

(232,195)

 

181,214

 

200,080

 

30,989

   

(212,976)

 

381,294

 

59,055

                             

Weighted average number of ordinary shares
outstanding, basic

185,613,735

 

167,966,603

 

167,974,463

 

167,974,463

   

185,607,348

 

167,970,515

 

167,970,515

Basic (loss)/income per share

(1.2510)

 

1.0789

 

1.1911

 

0.1845

   

(1.1475)

 

2.2700

 

0.3516

Basic (loss)/income per ADS

(2.5020)

 

2.1578

 

2.3822

 

0.3690

   

(2.2950)

 

4.5400

 

0.7032

                             

Weighted average number of ordinary shares
outstanding, diluted

185,613,735

 

169,147,563

 

169,173,603

 

169,173,603

   

185,607,348

 

169,160,565

 

169,160,565

Diluted (loss)/income per share

(1.2510)

 

1.0713

 

1.1827

 

0.1832

   

(1.1475)

 

2.2540

 

0.3491

Diluted (loss)/income per ADS

(2.5020)

 

2.1426

 

2.3654

 

0.3664

   

(2.2950)

 

4.5080

 

0.6982

                             

Unaudited Condensed Consolidated Cash
Flow Data

                           

Net cash (used in)/generated from operating
activities

(64,721)

 

(142,011)

 

(212,993)

 

(32,988)

   

497,999

 

(355,004)

 

(54,984)

Net cash used in investing activities

(186,670)

 

(286,056)

 

(208,539)

 

(32,299)

   

(716,107)

 

(494,595)

 

(76,603)

Net cash provided by/(used in) financing
activities

39,905

 

279,400

 

144,107

 

22,319

   

(25,732)

 

423,507

 

65,593

Effect of foreign exchange rate changes

(86)

 

(118)

 

(278)

 

(43)

   

1,120

 

(396)

 

(61)

Net decrease in cash, cash equivalents and
restricted cash

(211,572)

 

(148,785)

 

(277,703)

 

(43,011)

   

(242,720)

 

(426,488)

 

(66,055)

Cash, cash equivalents and restricted cash,
beginning of period

3,237,994

 

2,707,148

 

2,558,363

 

396,240

   

3,269,142

 

2,707,148

 

419,284

Cash, cash equivalents and restricted cash,
end of period

3,026,422

 

2,558,363

 

2,280,660

 

353,229

   

3,026,422

 

2,280,660

 

353,229

 

 

 

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)

 
 

As of

 

December 31,
2020

 

March 31,
2021

 

June 30,
2021

 

June 30,
2021

 

RMB

 

RMB

 

RMB

 

USD

               

        Cash and cash equivalents

2,469,909

 

2,362,310

 

2,192,500

 

339,575

        Restricted cash

237,239

 

196,053

 

88,160

 

13,654

        Accounts receivable

122,742

 

148,114

 

228,554

 

35,399

        Contract assets, net

750,174

 

917,995

 

1,063,470

 

164,711

        Contract cost

65,529

 

62,061

 

44,684

 

6,921

        Prepaid expenses and other assets

278,591

 

215,099

 

213,942

 

33,135

        Loans at fair value

192,156

 

175,664

 

112,931

 

17,491

        Financing receivables

1,253,494

 

1,471,509

 

1,738,742

 

269,297

        Amounts due from related parties

884,006

 

911,972

 

1,064,703

 

164,901

        Held-to-maturity investments

3,286

 

3,137

 

2,233

 

346

        Available-for-sale investments

175,515

 

234,587

 

224,336

 

34,745

        Property, equipment and software, net

147,193

 

134,351

 

123,491

 

19,126

        Deferred tax assets

16,745

 

13,906

 

8,629

 

1,336

        Right-of-use assets

105,674

 

98,467

 

93,783

 

14,525

Total assets

6,702,253

 

6,945,225

 

7,200,158

 

1,115,162

        Accounts payable

9,903

 

12,923

 

64,469

 

9,985

        Amounts due to related parties

970,309

 

769,744

 

498,053

 

77,138

        Deferred revenue

50,899

 

44,408

 

21,137

 

3,274

        Payable to investors at fair value

52,623

 

52,082

 

51,289

 

7,944

        Accrued expenses and other liabilities

1,208,915

 

1,148,549

 

1,238,591

 

191,833

        Secured borrowings

500,500

 

799,200

 

968,600

 

150,017

        Refund liability

10,845

 

7,404

 

6,412

 

993

        Deferred tax liabilities

38,741

 

76,003

 

118,654

 

18,377

        Lease liabilities

81,854

 

76,735

 

70,114

 

10,859

Total liabilities

2,924,589

 

2,987,048

 

3,037,319

 

470,420

        Ordinary shares

121

 

121

 

122

 

19

        Additional paid-in capital

5,058,176

 

5,058,884

 

5,065,177

 

784,496

        Treasury stock

(40,147)

 

(40,147)

 

(40,147)

 

(6,218)

        Accumulated other comprehensive income

17,108

 

16,648

 

16,139

 

2,500

        Accumulated deficit

(1,257,594)

 

(1,077,329)

 

(878,452)

 

(136,055)

Total equity

3,777,664

 

3,958,177

 

4,162,839

 

644,742

Total liabilities and equity

6,702,253

 

6,945,225

 

7,200,158

 

1,115,162

 

 

 

Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except for number of  borrowers, number of investors and percentages)

 
 

For the Three Months Ended 

   

For the Six Months Ended 

 

June 30,
2020

 

March 31,
2021

 

June 30,
2021

 

June 30,
2021

   

June 30,
2020

 

June 30,
2021

 

June 30,
2021

 

RMB

 

RMB

 

RMB

 

USD

   

RMB

 

RMB

 

USD

Operating Highlights

                           

Amount of investment in current investment
products

2,186,210

 

5,823,057

 

5,343,601

 

827,618

   

4,349,523

 

11,166,657

 

1,729,495

Number of investors in current investment
products

30,392

 

110,072

 

120,091

 

120,091

   

30,142

 

203,472

 

203,472

Amount of loans facilitated under loan
facilitation model

1,522,646

 

4,930,287

 

5,252,859

 

813,564

   

2,263,914

 

10,183,146

 

1,577,168

Amount of loans facilitated

2,402,494

 

4,930,287

 

5,252,859

 

813,564

   

4,241,948

 

10,183,146

 

1,577,168

Number of borrowers

107,568

 

345,939

 

434,153

 

434,153

   

220,731

 

646,486

 

646,486

Remaining principal of performing loans
facilitated under loan facilitation model

4,175,751

 

11,159,179

 

12,543,745

 

1,942,779

   

4,175,751

 

12,543,745

 

1,942,779

                             

Segment Information

                           

Wealth management:

                           

Revenue

322,381

 

263,743

 

286,839

 

44,426

   

738,257

 

550,582

 

85,274

Sales and marketing expenses

45,454

 

38,987

 

29,044

 

4,498

   

112,780

 

68,031

 

10,537

Origination,servicing and other operating
costs

39,648

 

132,510

 

150,505

 

23,311

   

70,493

 

283,015

 

43,833

                             

Consumer credit:

                           

Revenue

432,308

 

836,220

 

838,196

 

129,820

   

1,040,092

 

1,674,416

 

259,334

Sales and marketing expenses

463,012

 

366,189

 

407,838

 

63,165

   

1,012,127

 

774,027

 

119,881

Origination,servicing and other operating
costs

125,535

 

42,015

 

32,162

 

4,981

   

197,608

 

74,177

 

11,489

                             
                             

Reconciliation of Adjusted EBITDA

                           

Net (loss)/income

(232,195)

 

181,214

 

200,080

 

30,989

   

(212,976)

 

381,294

 

59,055

Interest (income)/expense, net

(16,950)

 

10,980

 

22,782

 

3,529

   

(42,066)

 

33,762

 

5,229

Income tax (benefit)/expense

(47,558)

 

44,373

 

55,259

 

8,559

   

(43,622)

 

99,632

 

15,431

Depreciation and amortization

24,368

 

15,151

 

12,170

 

1,885

   

51,539

 

27,321

 

4,232

Share-based compensation

2,954

 

(240)

 

5,090

 

788

   

7,495

 

4,850

 

751

Adjusted EBITDA

(269,381)

 

251,478

 

295,381

 

45,750

   

(239,630)

 

546,859

 

84,698

Adjusted EBITDA margin

-35.7%

 

22.9%

 

26.3%

 

26.3%

   

-13.5%

 

24.6%

 

24.6%

 

 

 

Delinquency Rates (Loan Facilitation Model)

             
   

15-29 days

 

30-59 days

 

60-89 days

All Loans

           

December 31, 2015

 

1.3%

 

1.9%

 

1.5%

December 31, 2016

 

0.6%

 

0.8%

 

0.7%

December 31, 2017

 

0.5%

 

0.8%

 

0.6%

December 31, 2018

 

1.0%

 

1.8%

 

1.7%

December 31, 2019

 

0.8%

 

1.3%

 

1.0%

December 31, 2020

 

0.5%

 

0.7%

 

0.6%

March 31, 2021

 

0.5%

 

0.8%

 

0.6%

June 30, 2021

 

0.5%

 

0.8%

 

0.7%

             

Online Channels

           

December 31, 2015

 

0.4%

 

0.7%

 

0.5%

December 31, 2016

 

0.8%

 

1.1%

 

1.7%

December 31, 2017

 

0.3%

 

0.2%

 

0.0%

December 31, 2018

 

0.9%

 

1.7%

 

1.5%

December 31, 2019

 

1.0%

 

2.1%

 

1.6%

December 31, 2020

 

0.6%

 

1.0%

 

1.1%

March 31, 2021

 

0.5%

 

0.9%

 

0.7%

June 30, 2021

 

0.7%

 

0.9%

 

0.8%

             

Offline Channels

           

December 31, 2015

 

1.3%

 

2.0%

 

1.6%

December 31, 2016

 

0.6%

 

0.8%

 

0.7%

December 31, 2017

 

0.5%

 

0.9%

 

0.7%

December 31, 2018

 

1.1%

 

1.9%

 

1.8%

December 31, 2019

 

0.7%

 

0.9%

 

0.7%

December 31, 2020

 

0.4%

 

0.6%

 

0.4%

March 31, 2021

 

0.4%

 

0.7%

 

0.6%

June 30, 2021

 

0.4%

 

0.7%

 

0.6%

 

 

 

Net Charge-Off Rate (Loan Facilitation Model)

Loan
Issued
Period

 

Amount of Loans
Facilitated
During the Period

 

Accumulated M3+ Net
Charge-Off
as of June 30, 2021

 

Total Net Charge-Off
Rate
as of June 30, 2021

   

(in RMB thousands)

 

(in RMB thousands)

 

2015

 

4,530,824

 

250,850

 

5.5%

2016

 

3,749,815

 

319,425

 

8.5%

2017

 

5,043,494

 

527,583

 

10.5%

2018

 

4,211,573

 

415,948

 

9.9%

2019

 

3,431,443

 

359,282

 

10.5%

2020

 

9,614,819

 

352,935

 

3.7%

2021Q1

 

4,930,287

 

23,045

 

0.5%

 

 

 

M3+ Net Charge-Off Rate (Loan Facilitation Model)

Loan
Issued
Period

 

Month on Book

   

4

7

10

13

16

19

22

25

28

31

34

2015Q1

 

1.0%

1.9%

2.8%

3.7%

4.3%

4.8%

5.1%

5.3%

5.3%

5.3%

5.2%

2015Q2

 

1.1%

2.8%

4.2%

5.3%

6.2%

6.7%

7.0%

7.0%

6.9%

6.8%

6.8%

2015Q3

 

0.6%

2.2%

3.8%

5.0%

5.9%

6.5%

6.7%

6.8%

6.7%

6.7%

6.7%

2015Q4

 

1.0%

1.5%

2.2%

2.8%

3.1%

3.4%

3.7%

4.0%

4.2%

4.4%

4.4%

2016Q1

 

0.6%

0.9%

1.3%

1.7%

2.0%

2.2%

2.4%

2.7%

2.9%

3.0%

3.2%

2016Q2

 

0.6%

1.4%

2.3%

3.0%

3.6%

4.2%

4.8%

5.4%

5.8%

6.0%

6.2%

2016Q3

 

0.4%

1.7%

2.7%

4.1%

5.3%

6.5%

7.7%

8.6%

9.3%

9.3%

9.5%

2016Q4

 

0.3%

2.1%

3.8%

5.4%

7.2%

9.2%

10.4%

11.5%

12.4%

12.9%

13.3%

2017Q1

 

0.3%

1.6%

3.4%

5.3%

7.5%

8.9%

10.0%

10.9%

11.6%

12.1%

12.3%

2017Q2

 

4.1%

5.8%

7.9%

9.6%

11.3%

12.5%

13.2%

13.9%

14.6%

14.9%

15.1%

2017Q3

 

0.3%

1.6%

3.5%

4.9%

6.5%

7.6%

8.4%

8.9%

9.4%

9.9%

10.1%

2017Q4

 

0.2%

2.3%

5.1%

6.5%

7.9%

9.0%

9.7%

10.2%

10.7%

11.2%

10.6%

2018Q1

 

0.2%

2.9%

5.1%

6.8%

7.2%

7.9%

8.4%

8.7%

9.0%

8.6%

8.1%

2018Q2

 

0.7%

4.1%

7.1%

9.4%

11.2%

12.4%

13.4%

14.1%

14.3%

14.1%

14.1%

2018Q3

 

0.2%

2.8%

3.6%

4.5%

5.2%

6.4%

7.0%

7.0%

6.9%

7.0%

 

2018Q4

 

0.6%

2.2%

3.4%

5.2%

6.9%

9.0%

9.7%

9.9%

9.6%

   

2019Q1

 

0.0%

0.8%

2.0%

3.4%

5.3%

5.9%

6.3%

6.3%

     

2019Q2

 

0.1%

1.5%

4.5%

7.5%

8.8%

9.2%

9.9%

       

2019Q3

 

0.2%

2.9%

6.8%

9.0%

10.4%

12.0%

         

2019Q4

 

0.4%

3.1%

4.9%

6.3%

7.2%

           

2020Q1

 

0.6%

2.3%

4.1%

5.2%

             

2020Q2

 

0.5%

2.5%

4.2%

               

2020Q3

 

1.1%

3.3%

                 

2020Q4

 

0.3%

                   

 

 

 

Cision View original content:https://www.prnewswire.com/news-releases/yiren-digital-reports-second-quarter-2021-financial-results-301358808.html

SOURCE Yiren Digital