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Yiren Digital Reports Third Quarter 2020 Financial Results
Nov 26,2020

BEIJING, Nov. 26, 2020 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Operational Highlights

Wealth Management—Yiren Wealth

  • Cumulative number of investors served reached 2,283,828 as of September 30, 2020, representing an increase of 2.7% from 2,223,250 as of June 30, 2020 and compared to 2,200,223 as of September 30, 2019.
  • Number of active wealth management investors[1] was 76,707 as of September 30, 2020, representing an increase of 152.4% from 30,392 as of June 30, 2020, and compared to 12,235 as of September 30, 2019.
  • Total assets under administration ("AUA") for wealth management products[2] on Yiren Wealth was RMB 4,334.2 million (US$ 638.4 million) as of September 30, 2020, representing an increase of 71.4% from 2,528.6 million as of June 30, 2020, and compared to RMB 626.2 million as of September 30, 2019.
  • Sales volume of wealth management products amounted to RMB 4,593.3 million (US$ 676.5 million) in the third quarter of 2020, representing an increase of 110.1% from RMB 2,186.2 million in the second quarter of 2020 and compared to RMB 767.2 million in the same period of 2019.

Consumer Credit—Yiren Credit

  • Total loan originations in the third quarter of 2020 reached RMB 3.2 billion (US$ 0.5 billion), representing an increase of 33.5% from RMB 2.4 billion in the second quarter of 2020 and compared to RMB 10.5 billion in the third quarter of 2019.
  • Cumulative number of borrowers served reached 5,060,824 as of September 30, 2020, representing an increase of 2.9% from 4,917,635 as of June 30, 2020 and compared to 4,593,590 as of September 30, 2019.
  • Number of borrowers served in the third quarter of 2020 was 143,238 representing an increase of 33.2% from 107,568 in the second quarter of 2020 and compared to 150,280 in the third quarter of 2019.
  • 24.4% of loan originations were generated online in the third quarter of 2020.
  • Total outstanding principal balance of performing loans reached RMB28,007.2 million (US$ 4,125.0 million) as of September 30, 2020, representing a decrease of 16.3% from RMB33,454.4 million as of June 30, 2020.

[1] Active wealth management investors refer to those who hold an investment in one or more of the wealth management products the Company source from financial institutions during the quarter.

[2] Wealth management products include the products the Company source from financial institutions, which do not include any of our legacy P2P loans.

"We are very pleased to deliver a solid quarter, and we continue to make progress in our business transitions and strategic repositioning as we drive our online wealth management business into scale and ramp up our new credit-tech product offerings. We have achieved profitability and meaningful growth on both our wealth management and credit-tech business lines. With the large growing market opportunities in both our wealth management and credit businesses, we believe Yiren Digital is well positioned as China's leading digital platform providing comprehensive personal financial services." said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital.

"For our wealth management business, we are seeing promising momentum in wealth management products and services and the demand remains strong. As of end of September, total AUA of wealth management products increased by 71% quarterly to RMB 4.3 billion, and total sales volume of wealth management products increased by 110% quarter-over-quarter to RMB 4.6 billion. New investors of wealth management products on Yiren Wealth in this quarter stood over 58,200, representing a 255% growth compared to last quarter."

"On our credit-tech business, we continue to execute our transition plan and drive our sales volume growth. Our new products continue to show strong growth as we shift towards small revolving loans and auto secured loans. For the small revolving loans, we have seen a quarterly increase of close to 100%, accounting for 19% of the total loan volume of this quarter. Meanwhile, auto secured loans grew 76% compared to the last quarter and took almost half of the total sales volume. "

"We are delighted to see continue growth in our wealth management business and loan originations and reached profitability for the quarter, as we continue to execute on our business plan," said Ms. Na Mei, Chief Financial Officer of Yiren Digital. "Total net revenue reached RMB 1.0 billion in third quarter, representing an increase of 36% from previous quarter due to growth in both loan and wealth management business. In particular, our revenue generated from wealth management products is becoming a significant portion of total net revenue at RMB 124 million up from RMB 22 million from prior quarter. On the balance sheet side, our cash position remains strong with RMB 3.3 billion of cash and short-term investments as of September 30, 2020. "

Third Quarter 2020 Financial Results

Total amount of loans facilitated in the third quarter of 2020 was RMB 3,207.0million (US$472.3million), compared to RMB 10,496.3 million in the same period last year. As of September 30, 2020, the total outstanding principal amount of the performing loans was RMB 28.0 billion (US$4.1 billion), decreased by 16.3% from RMB 33.5 billion as of June 30, 2020.

Total net revenue in the third quarter of 2020 was RMB 1,022.8 million (US$ 150.6 million), compared to RMB 2,056.1 million in the same period last year. Revenue from Yiren Credit reached RMB 741.7 million (US$ 109.2 million), representing a decrease of 51.1% from RMB 1,515.6 million in the third quarter of 2019. Revenue from Yiren Wealth reached RMB 281.1 million (US$ 41.4 million), representing a decrease of 48.0% from RMB 540.6 million in the third quarter of 2019.

Sales and marketing expenses in the third quarter of 2020 were RMB 485.1 million (US$71.4 million), compared to RMB 1,160.4 million in the same period last year. Sales and marketing expenses in the third quarter of 2020 accounted for 15.1% of the total amount of loans facilitated, as compared to 11.1% in the same period last year mainly due to the decline of loan volume.

Origination, servicing and other operating costs in the third quarter of 2020 were RMB 239.7 million (US$35.3 million), compared to RMB 156.1 million in the same period last year. Origination and servicing costs in the third quarter of 2020 accounted for 7.5% of the total amount of loans facilitated, compared to 1.5% in the same period last year due to the decline of loan volume.

General and administrative expenses in the third quarter of 2020 were RMB 159.7 million (US$ 23.5 million), compared to RMB 168.1 million in the same period last year. General and administrative expenses in the third quarter of 2020 accounted for 15.6% of the total net revenue, compared to 8.2% in the same period last year.

Allowance for contract assets and receivables in the third quarter of 2020 were RMB 25.0 million (US$ 3.7 million), compared to RMB 344.7 million in the same period last year.

Income tax expense in the third quarter of 2020 was RMB 16.4 million (US$ 2.4 million).

Net income in the third quarter of 2020 was RMB 79.8 million (US$ 11.8 million), compared to net income of RMB 228.0 million in the same period last year. 

Adjusted EBITDA[3] (non-GAAP) in the third quarter of 2020 was net income of RMB 117.5 million (US$ 17.3 million), compared to net income of RMB 274.2 million in the same period last year.

Basic income per ADS in the third quarter of 2020 was net income of RMB 0.9 (US$ 0.1), compared to a basic income per ADS of RMB 2.5 in the same period last year.

Diluted income per ADS in the third quarter of 2020 was net income of RMB 0.9 (US$ 0.1), compared to a diluted income per ADS of RMB 2.4 in the same period last year.

Net cash generated from operating activities in the third quarter of 2020 was RMB 3.1 million (US$0.5 million), compared to net cash generated from operating activities of RMB 808.1 million in the same period last year.

Net cash used in investing activities in the third quarter of 2020 was RMB 99.5 million (US$14.6 million), compared to net cash used in investing activities of RMB 78.1 million in the same period last year.

As of September 30, 2020, cash and cash equivalents was RMB 2,836.2 million (US$ 417.7 million), compared to RMB 2,935.5 million as of June 30, 2020. As of September 30, 2020, the balance of held-to-maturity investments was RMB 2.3 million (US$ 0.3 million), compared to RMB 4.1 million as of June 30, 2020. As of September 30, 2020, the balance of available-for-sale investments was RMB 511.3 million (US$ 75.3 million), compared to RMB 513.0 million as of June 30, 2020.

Delinquency rates. As of September 30, 2020, the delinquency rates for loans that are past due for 15-29 days, 30-59 days and 60-89 days were 1.1%, 1.7%, and 1.6%, respectively compared to 1.4%, 2.0%, and 2.1%, as of June 30, 2020

Cumulative M3+ net charge-off rates. As of September 30, 2020, the cumulative M3+ net charge-off rate for loans originated in 2017 was 17.0%, compared to 16.7% as of June 30, 2020. As September 30, 2020, the cumulative M3+ net charge-off rate for loans originated in 2018 was 18.3%, compared to 17.6% as of June 30, 2020. As of September 30, 2020, the cumulative M3+ net charge-off rate for loans originated in 2019 was 11.9%, compared to 9.4% as of June 30, 2020.

[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.

Board Composition Change

The Board of Directors of the Company (the "Board") has appointed Mr. Dennis Cong as a member of the Board effective November 27, 2020. At the same time, Mr. Huan Chen has retired from his position on the Board effective today after having served as a Director of the Company since 2015.

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 RMB 6.7896 to US$1.00, the effective noon buying rate on September 30, 2020, 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 7:00 p.m. U.S. Eastern Time on November 26, 2020 (or 8:00 a.m. Beijing/Hong Kong Time on November 27, 2020).

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

http://apac.directeventreg.com/registration/event/5509629

Please note the Conference ID number of 5509629.

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 December 4, 2020:

International

+61 2-8199-0299

U.S.

+1 646-254-3697

Replay Access Code:

5509629

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. (NYSE: YRD) is a leading fintech company in China, providing both credit and wealth management services. For its credit business, the Company provides an effective solution to address largely underserved investor and individual borrower demand in China through online and offline channels to efficiently match borrowers with investors and execute loan transactions. Yiren Digital deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yiren Digital's marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns. For its wealth management business, the Company targets China's mass affluent population and strives to provide customized wealth management services, with a combination of long-term and short-term targets as well as different types of investments, ranging from cash and fixed-income assets, to funds and insurance. For more information, please visit 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 Nine Months Ended 

 

September 30,
2019

 

June 30,
2020

 

September 30,
2020

 

September 30,
2020

   

September 30,
2019

 

September 30,
2020

 

September 30,
2020

 

RMB

 

RMB

 

RMB

 

USD

   

RMB

 

RMB

 

USD

Net revenue:

                           

  Loan facilitation services

1,286,923

 

171,084

 

406,413

 

59,858

   

3,579,687

 

936,038

 

137,865

  Post-origination services

103,073

 

126,477

 

195,570

 

28,804

   

640,673

 

468,567

 

69,012

  Account management services

489,673

 

300,720

 

157,327

 

23,172

   

1,527,037

 

871,213

 

128,316

  Others

176,439

 

156,408

 

263,452

 

38,802

   

505,759

 

525,293

 

77,367

Total net revenue

2,056,108

 

754,689

 

1,022,762

 

150,636

   

6,253,156

 

2,801,111

 

412,560

Operating costs and expenses:

                           

  Sales and marketing

1,160,365

 

508,466

 

485,055

 

71,441

   

3,496,957

 

1,609,962

 

237,122

  Origination,servicing and other
  operating costs

156,073

 

165,183

 

239,655

 

35,297

   

491,141

 

507,756

 

74,784

  General and administrative

168,092

 

172,568

 

159,670

 

23,517

   

601,333

 

481,279

 

70,885

  Allowance for contract assets and
  receivables

344,742

 

168,708

 

25,016

 

3,684

   

1,036,707

 

337,109

 

49,651

Total operating costs and expenses

1,829,272

 

1,014,925

 

909,396

 

133,939

   

5,626,138

 

2,936,106

 

432,442

Other income/(expenses):

                           

  Interest income, net

13,825

 

16,950

 

11,003

 

1,621

   

62,913

 

53,069

 

7,816

  Fair value adjustments related to
  Consolidated ABFE

(1,323)

 

(32,957)

 

(30,905)

 

(4,552)

   

39,462

 

(89,882)

 

(13,238)

  Others, net

7,112

 

(3,510)

 

2,726

 

401

   

184,815

 

11,400

 

1,679

Total other income/(expenses)

19,614

 

(19,517)

 

(17,176)

 

(2,530)

   

287,190

 

(25,413)

 

(3,743)

Income/(loss) before provision for
income taxes

246,450

 

(279,753)

 

96,190

 

14,167

   

914,208

 

(160,408)

 

(23,625)

Share of results of equity investees

1,505

 

-

 

-

 

-

   

(4,268)

 

-

 

-

Income tax expense/(benefit)

19,924

 

(47,558)

 

16,353

 

2,408

   

158,314

 

(27,269)

 

(4,016)

Net income/(loss)

228,031

 

(232,195)

 

79,837

 

11,759

   

751,626

 

(133,139)

 

(19,609)

                             

Weighted average number of ordinary
shares outstanding, basic

185,548,214

 

185,613,735

 

186,784,192

 

186,784,192

   

185,095,873

 

186,002,493

 

186,002,493

Basic income/(loss) per share

1.2290

 

(1.2510)

 

0.4274

 

0.0630

   

4.0607

 

(0.7158)

 

(0.1054)

Basic income/(loss) per ADS

2.4580

 

(2.5020)

 

0.8548

 

0.1260

   

8.1214

 

(1.4316)

 

(0.2108)

                             

Weighted average number of ordinary
shares outstanding, diluted

186,351,678

 

185,613,735

 

187,370,892

 

187,370,892

   

186,433,058

 

186,002,493

 

186,002,493

Diluted income/(loss) per share

1.2237

 

(1.2510)

 

0.4261

 

0.0628

   

4.0316

 

(0.7158)

 

(0.1054)

Diluted income/(loss) per ADS

2.4474

 

(2.5020)

 

0.8522

 

0.1256

   

8.0632

 

(1.4316)

 

(0.2108)

                             

Unaudited Condensed Consolidated
Cash Flow Data(Recast*)

                           

Net cash generated from/(used in)
operating activities

808,148

 

(64,721)

 

3,098

 

455

   

186,065

 

501,097

 

73,803

Net cash (used in)/provided by
investing activities

(78,146)

 

(186,670)

 

(99,460)

 

(14,649)

   

(87,181)

 

(815,567)

 

(120,120)

Net cash (used in)/provided by
financing activities

(839,114)

 

39,905

 

81,693

 

12,032

   

(419,110)

 

55,961

 

8,242

Effect of foreign exchange rate changes

3,193

 

(86)

 

(3,389)

 

(498)

   

2,529

 

(2,269)

 

(334)

Net decrease in cash, cash equivalents
and restricted cash

(105,919)

 

(211,572)

 

(18,058)

 

(2,660)

   

(317,697)

 

(260,778)

 

(38,409)

Cash, cash equivalents and restricted
cash, beginning of period

2,822,706

 

3,237,994

 

3,026,422

 

445,744

   

3,034,484

 

3,269,142

 

481,493

Cash, cash equivalents and restricted
cash, end of period

2,716,787

 

3,026,422

 

3,008,364

 

443,084

   

2,716,787

 

3,008,364

 

443,084

 

 

 

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)

 
 

As of

 

December 31,
2019

 

June 30,
2020

 

September 30,
2020

 

September 30,
2020

 

RMB

 

RMB

 

RMB

 

USD

               

        Cash and cash equivalents

3,198,086

 

2,935,543

 

2,836,229

 

417,731

        Restricted cash

71,056

 

90,879

 

172,135

 

25,353

        Accounts receivable

3,398

 

27,309

 

100,657

 

14,825

        Contract assets, net

2,398,685

 

1,356,886

 

1,231,190

 

181,335

        Contract cost

160,003

 

145,809

 

124,005

 

18,264

        Prepaid expenses and other assets

1,333,221

 

1,134,257

 

986,747

 

145,332

        Loans at fair value

418,492

 

246,475

 

180,058

 

26,520

        Financing receivables

29,612

 

54,876

 

267,938

 

39,463

        Amounts due from related parties

988,853

 

1,560,376

 

1,584,084

 

233,310

        Held-to-maturity investments

6,627

 

4,126

 

2,349

 

346

        Available-for-sale investments

460,991

 

513,013

 

511,267

 

75,301

        Property, equipment and software, net

195,855

 

184,957

 

163,696

 

24,110

        Deferred tax assets

45,407

 

49,051

 

50,175

 

7,390

        Right-of-use assets

334,134

 

224,067

 

160,825

 

23,687

Total assets

9,644,420

 

8,527,624

 

8,371,355

 

1,232,967

        Accounts payable

43,583

 

40,324

 

24,757

 

3,646

        Amounts due to related parties

106,645

 

184,325

 

293,620

 

43,246

        Liabilities from quality assurance program
        and guarantee

4,397

 

2,660

 

2,065

 

304

        Deferred revenue

358,203

 

190,712

 

135,590

 

19,970

        Accrued expenses and other liabilities

2,338,745

 

1,981,040

 

1,993,273

 

293,577

        Refund liability

1,801,535

 

1,501,318

 

1,285,109

 

189,276

        Deferred tax liabilities

218,888

 

162,016

 

150,486

 

22,164

        Lease liabilities

282,334

 

205,056

 

135,544

 

19,963

Total liabilities

5,154,330

 

4,267,451

 

4,030,320

 

593,601

        Ordinary shares

121

 

121

 

121

 

18

        Additional paid-in capital

5,038,691

 

5,050,226

 

5,059,529

 

745,188

 Treasury stock

(37,097)

 

(37,097)

 

(40,147)

 

(5,913)

        Accumulated other comprehensive income

21,855

 

23,474

 

18,595

 

2,739

        Accumulated deficit

(533,480)

 

(776,551)

 

(697,063)

 

(102,666)

Total equity

4,490,090

 

4,260,173

 

4,341,035

 

639,366

Total liabilities and equity

9,644,420

 

8,527,624

 

8,371,355

 

1,232,967

 

 

 

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 Nine Months Ended 

 

September 30,
2019

 

June 30,
2020

 

September 30,
2020

 

September 30,
2020

   

September 30,
2019

 

September 30,
2020

 

September 30,
2020

 

RMB

 

RMB

 

RMB

 

USD

   

RMB

 

RMB

 

USD

Operating Highlights

                           

Amount of p2p investment

9,037,670

 

4,017,751

 

2,620,252

 

385,921

   

32,412,841

 

11,841,750

 

1,744,101

Number of p2p investors

113,955

 

63,066

 

41,851

 

41,851

   

319,538

 

119,929

 

119,929

Amount of non-p2p investment

767,226

 

2,186,210

 

4,593,256

 

676,514

   

1,380,717

 

8,942,780

 

1,317,129

Number of non-p2p investors

12,235

 

30,392

 

76,707

 

76,707

   

26,101

 

90,888

 

90,888

Amount of loans facilitated

10,496,261

 

2,402,494

 

3,206,977

 

472,337

   

31,105,001

 

7,448,925

 

1,097,108

Number of borrowers

150,280

 

107,568

 

143,238

 

143,238

   

423,414

 

360,170

 

360,170

Remaining principal of performing
loans

54,553,702

 

33,454,423

 

28,007,249

 

4,125,022

   

54,553,702

 

28,007,249

 

4,125,022

                             

Segment Information

                           

Wealth management:

                           

  Revenue

540,554

 

322,381

 

281,050

 

41,394

   

1,654,366

 

1,019,307

 

150,129

  Sales and marketing expenses

219,390

 

45,454

 

43,879

 

6,463

   

576,462

 

156,659

 

23,074

                             

Consumer credit:

                           

  Revenue

1,515,554

 

432,308

 

741,712

 

109,242

   

4,598,790

 

1,781,804

 

262,431

  Sales and marketing expenses

940,975

 

463,012

 

441,176

 

64,978

   

2,920,495

 

1,453,303

 

214,048

                             

Reconciliation of Adjusted
EBITDA

                           

Net income/(loss)

228,031

 

(232,195)

 

79,837

 

11,759

   

751,626

 

(133,139)

 

(19,609)

Interest income, net

(13,825)

 

(16,950)

 

(11,003)

 

(1,621)

   

(62,913)

 

(53,069)

 

(7,816)

Income tax expense/(benefit)

19,924

 

(47,558)

 

16,353

 

2,408

   

158,314

 

(27,269)

 

(4,016)

Depreciation and amortization

32,153

 

24,368

 

23,404

 

3,447

   

95,767

 

74,943

 

11,038

Share-based compensation

7,954

 

2,954

 

8,952

 

1,319

   

40,385

 

16,447

 

2,422

Adjusted EBITDA

274,237

 

(269,381)

 

117,543

 

17,312

   

983,179

 

(122,087)

 

(17,981)

Adjusted EBITDA margin

13.3%

 

-35.7%

 

11.5%

 

11.5%

   

15.7%

 

-4.4%

 

-4.4%

                             

*The Company reclassified 22.0 million payments made in the second quarter of 2020 related to financing receivables from cash used in operating
activities to cash used in investing activities.

 

 

 

Delinquency Rates

   

Delinquent for

   

15-29 days

 

30-59 days

 

60-89 days

All Loans

           

December 31, 2015

0.7%

 

1.2%

 

0.9%

December 31, 2016

0.6%

 

0.9%

 

0.8%

December 31, 2017

0.8%

 

1.0%

 

0.8%

December 31, 2018

1.0%

 

1.8%

 

1.7%

December 31, 2019

1.2%

 

2.0%

 

1.7%

March 31, 2020

1.6%

 

4.1%

 

3.2%

June 30, 2020

1.4%

 

2.0%

 

2.1%

September 30, 2020

1.1%

 

1.7%

 

1.6%

             

Online Channels

         

December 31, 2015

0.5%

 

0.8%

 

0.6%

December 31, 2016

0.6%

 

1.0%

 

0.8%

December 31, 2017

1.3%

 

1.2%

 

0.9%

December 31, 2018

1.2%

 

2.3%

 

2.2%

December 31, 2019

1.6%

 

2.9%

 

2.5%

March 31, 2020

1.9%

 

5.2%

 

3.8%

June 30, 2020

1.4%

 

2.4%

 

2.7%

September 30, 2020

1.2%

 

2.2%

 

2.1%

             

Offline Channels

         

December 31, 2015

0.7%

 

1.2%

 

1.0%

December 31, 2016

0.6%

 

0.9%

 

0.8%

December 31, 2017

0.6%

 

0.9%

 

0.7%

December 31, 2018

0.9%

 

1.6%

 

1.5%

December 31, 2019

1.0%

 

1.7%

 

1.5%

March 31, 2020

1.6%

 

3.7%

 

3.1%

June 30, 2020

1.4%

 

1.8%

 

2.0%

September 30, 2020

1.0%

 

1.5%

 

1.5%

 

 

 

Net Charge-Off Rate

Loan
Issued
Period

 

Amount of Loans
Facilitated
During the Period

 

Accumulated M3+ Net Charge-
Off
as of September 30, 2020

 

Total Net Charge-Off
Rate
as of September 30, 2020

   

(in RMB thousands)

 

(in RMB thousands)

   

2015

 

53,143,029

 

4,426,384

 

8.3%

2016

 

53,805,112

 

5,035,620

 

9.4%

2017

 

69,883,293

 

11,848,179

 

17.0%

2018

 

63,176,149

 

11,551,234

 

18.3%

2019

 

39,103,048

 

4,654,088

 

11.9%

2020H1

 

3,574,487

 

6,815

 

0.2%

 

 

 

M3+ Net Charge-Off Rate

Loan Issued
Period

 

Month on Book

                         

2015Q1

 

0.8%

2.0%

3.4%

4.7%

5.7%

6.5%

7.1%

7.5%

7.7%

7.8%

7.8%

2015Q2

 

0.8%

2.3%

3.8%

5.2%

6.4%

7.3%

7.9%

8.3%

8.5%

8.7%

8.8%

2015Q3

 

0.4%

1.6%

3.1%

4.4%

5.6%

6.5%

7.1%

7.6%

7.9%

8.1%

8.4%

2015Q4

 

0.4%

1.6%

3.1%

4.4%

5.5%

6.3%

6.9%

7.4%

7.9%

8.3%

8.5%

2016Q1

 

0.3%

1.2%

2.5%

3.6%

4.5%

5.2%

5.8%

6.4%

7.0%

7.4%

7.6%

2016Q2

 

0.4%

1.6%

3.1%

4.3%

5.2%

6.0%

6.8%

7.6%

8.1%

8.4%

8.7%

2016Q3

 

0.3%

1.6%

3.0%

4.3%

5.4%

6.6%

7.8%

8.6%

9.1%

9.5%

9.7%

2016Q4

 

0.2%

1.5%

2.9%

4.3%

5.8%

7.3%

8.3%

9.2%

9.9%

10.3%

10.6%

2017Q1

 

0.4%

1.6%

3.2%

5.1%

7.0%

8.4%

9.7%

10.6%

11.3%

11.8%

12.0%

2017Q2

 

1.2%

3.0%

5.6%

8.3%

10.2%

11.9%

13.2%

14.2%

15.0%

15.4%

15.7%

2017Q3

 

0.5%

3.0%

6.3%

9.0%

11.4%

13.3%

14.8%

15.9%

16.6%

17.1%

17.4%

2017Q4

 

0.8%

4.1%

7.4%

10.5%

13.2%

15.2%

16.7%

17.8%

18.6%

19.1%

 

2018Q1

 

0.4%

3.1%

6.6%

10.0%

12.8%

15.1%

16.8%

18.1%

19.1%

   

2018Q2

 

0.5%

3.7%

7.4%

10.8%

13.6%

15.8%

17.7%

19.2%

     

2018Q3

 

0.4%

3.0%

6.2%

9.1%

11.7%

13.9%

15.9%

       

2018Q4

 

0.3%

2.5%

5.6%

8.6%

11.7%

14.5%

         

2019Q1

 

0.2%

2.5%

5.6%

9.0%

12.7%

           

2019Q2

 

0.3%

2.9%

6.9%

11.3%

             

2019Q3

 

0.3%

3.4%

8.0%

               

2019Q4

 

0.3%

3.9%

                 

2020Q1

 

0.5%

                   

 

 

Cision View original content:http://www.prnewswire.com/news-releases/yiren-digital-reports-third-quarter-2020-financial-results-301181068.html

SOURCE Yiren Digital

Yiren Digital, Investor Relations, Email: ir@Yirendai.com