FinVolution Group Reports Second Quarter 2026 Unaudited Financial Results
Rhea-AI Summary
FinVolution Group (NYSE: FINV) reported second quarter 2026 net revenue of RMB3,403.2 million (US$501.6 million) and net profit of RMB426.8 million, both lower year over year. Total transaction volume fell to RMB44.8 billion, with Chinese Mainland volume down to RMB41.0 billion and overseas volume up to RMB3.8 billion.
Chinese Mainland net revenue was RMB2,396.7 million and U.S. GAAP operating profit RMB624.8 million, while overseas markets generated net revenue of RMB930.3 million, 27.3% of total, and operating profit of RMB53.6 million. Overseas users and borrowers grew strongly, and the group’s 90+ day delinquency ratio in China was 2.10%.
FinVolution ended the quarter with RMB6.4 billion in cash and short-term investments, a leverage ratio of 2.1x, and completed US$27.4 million of share repurchases, maintaining full-year 2026 revenue guidance of RMB11.5–12.9 billion.
Positive
- Overseas net revenue RMB930.3m, up 18.0% YoY, 27.3% of total
- Overseas operating profit RMB53.6m vs RMB25.6m YoY, more than doubled
- Net interest income increased to RMB474.3m from RMB272.1m YoY
- Strong overseas user growth: unique borrowers 5.3m, up 130.4% YoY
- Balance sheet liquidity: RMB6.4b cash and short-term investments; leverage ratio 2.1x
- Capital return: US$27.4m Q2 share repurchases, US$66.8m in first half 2026
- Guidance: full-year 2026 revenue outlook maintained at RMB11.5–12.9b
- Chinese Mainland asset quality: 90+ day delinquency ratio at 2.10%
Negative
- Total transaction volume declined to RMB44.8b from RMB54.0b YoY
- Chinese Mainland transaction volume fell to RMB41.0b, down 19.3% YoY
- Group net revenue slipped to RMB3,403.2m from RMB3,578.0m YoY
- Net profit decreased to RMB426.8m from RMB751.3m YoY
- Chinese Mainland unique borrowers down 18.2% YoY to 1.8m
- Provision for loans receivable rose to RMB164.4m from RMB98.4m YoY
- Credit losses for quality assurance increased to RMB1,108.8m from RMB987.1m YoY
- Impairment charges on goodwill and intangibles rose to RMB63.8m from RMB50.4m
News Explained
The quarter includes a RMB63.8 million impairment, primarily tied to micro-lending licenses acquired in 2017.
The company’s unaudited second-quarter results show that, as of
In the release’s terms, “capital-light” describes lending facilitated without the company bearing principal risk; the model also covered
The release also reports a
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 25 | Q1 earnings report | Negative | +10.2% | Revenue and profit declined year over year while overseas operations expanded. |
| Mar 16 | FY2025 earnings | Positive | +12.6% | Full-year revenue, profit, and international operations delivered year-over-year growth. |
| Nov 19 | Q3 earnings report | Positive | -13.9% | International growth and profitability were reported alongside lower-than-expected market reaction. |
| Aug 20 | Q2 earnings report | Positive | +5.5% | Revenue, profit, and international transaction volume increased year over year. |
| May 20 | Q1 earnings report | Positive | -0.5% | Revenue, profit, and international operations grew despite the reported negative price reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings reactions were mixed, with positive or negative disclosures diverging from subsequent price reactions in three of five events.
Key Terms
capital-light model financial
90 day+ delinquency ratio financial
non-gaap adjusted ebitda financial
quality assurance commitment financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SHANGHAI, Aug. 27, 2026 (GLOBE NEWSWIRE) -- FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform across China and overseas markets, today announced its unaudited financial results for the second quarter ended June 30, 2026.
| For the Three Months Ended/As of | YoY Change | ||
| June 30, 2025 | June 30, 2026 | ||
| Total Transaction Volume (RMB in billions)1 | 54.0 | 44.8 | - |
| - Chinese Mainland2 | 50.8 | 41.0 | - |
| - Overseas Markets3 | 3.2 | 3.8 | |
| Total Outstanding Loan Balance (RMB in billions) | 77.5 | 67.9 | - |
| - Chinese Mainland4 | 75.4 | 65.4 | - |
| - Overseas Markets5 | 2.1 | 2.5 | |
Second Quarter 2026 Highlights
Chinese Mainland Market
- Cumulative registered users reached 192.8 million as of June 30, 2026, an increase of
6.6% compared with June 30, 2025. - Cumulative borrowers reached 30.1 million as of June 30, 2026, an increase of
7.9% compared with June 30, 2025. - Number of unique borrowers6 for the second quarter of 2026 was 1.8 million, a decrease of
18.2% compared with the same period of 2025. - Transaction volume2 was RMB41.0 billion for the second quarter of 2026, a decrease of
19.3% compared with the same period of 2025. - Transaction volume facilitated for repeat individual borrowers7 for the second quarter of 2026 was RMB34.8 billion, a decrease of
20.5% compared with the same period of 2025. - Outstanding loan balance4 was RMB65.4 billion as of June 30, 2026, a decrease of
13.3% compared with June 30, 2025. - Average loan size was RMB10,742 for the second quarter of 2026, compared with RMB10,056 for the same period of 2025.
- Average loan tenure was 8.5 months for the second quarter of 2026, compared with 8.3 months for the same period of 2025.
- 90 day+ delinquency ratio8 was
2.10% as of June 30, 2026. - Net revenue9 was RMB2,396.7 million (US
$353.2 million ) for the second quarter of 2026, compared with RMB2,781.3 million for the same period of 2025. - U.S. GAAP operating profit10 was RMB624.8 million (US
$92.1 million ) for the second quarter of 2026, compared with RMB913.6 million for the same period of 2025. - Non-GAAP adjusted EBITDA11, which excludes depreciation and amortization and share-based compensation expenses from operating profit, was RMB641.9 million (US
$94.6 million ) for the second quarter of 2026, compared with RMB930.6 million for the same period of 2025.
Overseas Markets
- Cumulative registered users reached 61.4 million as of June 30, 2026, an increase of
43.5% compared with June 30, 2025. - Cumulative borrowers reached 15.6 million as of June 30, 2026, an increase of
79.3% compared with June 30, 2025. - Number of unique borrowers12 for the second quarter of 2026 was 5.3 million, an increase of
130.4% compared with the same period of 2025. - Number of new borrowers13 for the second quarter of 2026 was 2.2 million, an increase of
100.0% compared with the same period of 2025. - Transaction volume3 reached RMB3.8 billion for the second quarter of 2026, an increase of
18.8% compared with the same period of 2025. - Outstanding loan balance5 reached RMB2.5 billion as of June 30, 2026, an increase of
19.0% compared with June 30, 2025. - Net revenue14 was RMB930.3 million (US
$137.1 million ) for the second quarter of 2026, an increase of18.0% compared with the same period of 2025, representing27.3% of total revenue for the second quarter of 2026. - U.S. GAAP operating profit10 was RMB53.6 million (US
$7.9 million ) for the second quarter of 2026, compared with RMB25.6 million for the same period of 2025. - Non-GAAP adjusted EBITDA11, which excludes depreciation and amortization and share-based compensation expenses from operating profit, was RMB55.3 million (US
$8.1 million ) for the second quarter of 2026, compared with RMB26.6 million for the same period of 2025.
Group Financial Highlights
- Net revenue was RMB3,403.2 million (US
$501.6 million ) for the second quarter of 2026, compared with RMB3,578.0 million for the same period of 2025. - Net profit was RMB426.8 million (US
$62.9 million ) for the second quarter of 2026, compared with RMB751.3 million for the same period of 2025. - U.S. GAAP operating profit was RMB529.2 million (US
$78.0 million ) for the second quarter of 2026, compared with RMB815.5 million for the same period of 2025. - Non-GAAP adjusted operating profit15, which excludes share-based compensation expenses before tax, was RMB572.1 million (US
$84.3 million ) for the second quarter of 2026, compared with RMB854.8 million for the same period of 2025. - Diluted net profit per American depositary share (“ADS”) was RMB1.80 (US
$0.26) and diluted net profit per share was RMB0.36 (US$0.05) for the second quarter of 2026, compared with RMB2.82 and RMB0.56 for the same period of 2025, respectively. - Non-GAAP diluted net profit per ADS was RMB1.97 (US
$0.29) and non-GAAP diluted net profit per share was RMB0.39 (US$0.06) for the second quarter of 2026, compared with RMB2.97 and RMB0.59 for the same period of 2025, respectively. Each ADS of the Company represents five Class A ordinary shares of the Company.
_________________________
1 Represents the total transaction volume facilitated in the Chinese Mainland and overseas markets on the Company’s platform during the period presented.
2 Represents our transaction volume facilitated in the Chinese Mainland during the period presented. During the second quarter, RMB14.4 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.
3 Represents our transaction volume facilitated in Indonesia, the Philippines and Australia during the period presented.
4 Outstanding loan balance as of any date refers to the balance of outstanding loans in the Chinese Mainland market excluding loans delinquent for more than 180 days from such date. As of June 30, 2026, RMB33.4 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.
5 Outstanding loan balance as of any date refers to the balance of outstanding loans in Indonesia, the Philippines and Australia excluding loans delinquent for more than 30 days from such date.
6 Represents the total number of borrowers in the Chinese Mainland who successfully borrowed on the Company’s platform during the period presented.
7 Represents the transaction volume facilitated for borrowers who had historically completed a transaction on the Company’s platform in the Chinese Mainland during the period presented.
8 “90 day+ delinquency ratio” refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company’s platform as of a specific date. Loans that originated outside the Chinese Mainland are not included in the calculation.
9 Represents revenue from the Chinese Mainland. Prior period segment results from the Chinese Mainland have been recast to conform to the current period presentation. Please refer to the “Selected Segment Information” tables at the end of this release for a breakdown by segment for the periods presented.
10 Please refer to the “Selected Segment Information” tables at the end of this release for reconciliation between Operating Segment Profit/(Loss) and GAAP operating profit.
11 Please refer to the “Selected Segment Information” tables at the end of this release for reconciliation between GAAP operating profit and Non-GAAP adjusted EBITDA.
12 Represents the total number of borrowers in Indonesia, the Philippines and Australia who successfully borrowed on the Company’s platforms during the period presented.
13 Represents the total number of new borrowers in Indonesia, the Philippines and Australia whose transactions were facilitated on the Company’s platforms during the period presented.
14 Represents revenue from overseas markets outside the Chinese Mainland, namely Indonesia, the Philippines, and Australia. Prior period segment results from overseas markets have been recast to conform to the current period presentation. Please refer to “Selected Segment Information” for a breakdown by segment for the periods presented.
15 Please refer to “UNAUDITED Reconciliation of GAAP and Non-GAAP Results” for reconciliation between GAAP and Non-GAAP adjusted operating profit.
16 The Company has reclassified certain items within its consolidated balance sheets for the first quarter of 2026, including amounts between Loans receivable and Accounts receivable. These balance sheet reclassifications also resulted in corresponding changes in the presentation of certain items in the consolidated statements of cash flows under the indirect method. The impact of these reclassifications has been reflected in the consolidated statements of cash flows for the six months ended June 30, 2026.
Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution, commented, "Our second quarter results reflect a growing recovery following the risk mitigation actions we took in the second half of last year, with transaction volume, net revenue, and net profit all up sequentially. Both our Chinese Mainland and Overseas segments delivered resilient performances against an evolving regulatory and macro backdrop across several of our markets, reinforcing the value of our two-engine model.
"Asset quality in the Chinese Mainland segment remained solid, supported by the healthier borrower mix we captured during this year's industry consolidation. Meanwhile, the Overseas segment continued to gain traction under our 'Local Excellence, Global Outlook+' strategy. Our unique borrower base more than doubled to 5.3 million, driving continued overall profitability across our international footprint, underscoring the growing earnings power of our diversified platform.
"As we enter the third quarter, we are navigating industry headwinds as institutional funding in China tightens at the moment coupled with an evolving risk environment. We intend to stay disciplined on origination rather than chase high-risk volume. Our dual-engine profitability, technology edge and healthy, low-leverage balance sheet give us the flexibility to manage this period while continuing to build long-term value for customers and shareholders," concluded Mr. Li.
Mr. Jiayuan Xu, Chief Financial Officer of FinVolution, continued, "Total net revenues were RMB3.4 billion for the second quarter, up
“Our balance sheet remains robust, with RMB6.4 billion in cash and short-term investments, while our leverage ratio stands at 2.1x, around historic lows. We repurchased US
Second Quarter 2026 Financial Results
Net revenue for the second quarter of 2026 was RMB3,403.2 million (US
Loan facilitation service fees were RMB1,313.8 million (US
Post-facilitation service fees were RMB386.0 million (US
Guarantee income was RMB904.5 million (US
Net interest income was RMB474.3 million (US
Other revenue was RMB324.6 million (US
Origination, servicing expenses and other costs of revenue were RMB732.9 million (US
Sales and marketing expenses were RMB480.9 million (US
Research and development expenses were RMB118.9 million (US
General and administrative expenses were RMB106.3 million (US
Provision for accounts receivable and contract assets was RMB97.9 million (US
Provision for loans receivable was RMB164.4 million (US
Credit losses for quality assurance commitment were RMB1,108.8 million (US
Impairment of goodwill and intangible assets was RMB63.8 million (US
Operating profit was RMB529.2 million (US
Non-GAAP adjusted operating profit, which excludes share-based compensation expenses before tax, was RMB572.1 million (US
Other income was RMB33.9 million (US
Income tax expense was RMB116.4 million (US
Net profit was RMB426.8 million (US
Net profit attributable to ordinary shareholders of the Company was RMB441.6 million (US
Diluted net profit per ADS was RMB1.80 (US
Non-GAAP diluted net profit per ADS was RMB1.97 (US
As of June 30, 2026, the Company had cash and cash equivalents of RMB3,259.4 million (US
The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company’s platform in the Chinese Mainland as of June 30, 2026. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.
Shares Repurchase Update
For the second quarter of 2026, the Company deployed approximately US
Business Outlook
Looking ahead to the third quarter, we anticipate a considerable contraction in transaction volume in China, reflecting industry headwinds as institutional funding to the industry tightens at the moment. Despite this near-term impact, underpinned by the strength of our two-engine model and disciplined execution, we reiterate the Company’s full-year 2026 total revenue guidance to be in the range of approximately RMB11.5 billion to RMB12.9 billion.
The above forecast is based on the current market conditions and reflects the Company’s current preliminary views and expectations on market and operational conditions and the regulatory and operating environment, as well as customers’ and institutional partners’ demands, all of which are subject to change.
Conference Call
The Company’s management will host an earnings conference call at 8:30 PM U.S. Eastern Time on August 27, 2026 (8:30 AM Beijing/Hong Kong Time on August 28, 2026).
Participants should complete online registration using the link provided below at least 15 minutes before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.
Participant Online Registration:
https://register-conf.media-server.com/register/BI0f0012327500446398832920fa161c5b
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.finvgroup.com.
About FinVolution Group
FinVolution Group is a leading fintech platform with strong brand recognition across China and overseas markets, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of June 30, 2026, the Company had 254.2 million cumulative registered users across China and overseas markets.
For more information, please visit https://ir.finvgroup.com
Use of Non-GAAP Financial Measures
We use non-GAAP adjusted operating profit, non-GAAP operating margin, non-GAAP adjusted EBITDA, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Non-GAAP adjusted operating profit, non-GAAP operating margin, non-GAAP adjusted EBITDA, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider it in isolation, or as a substitute for net income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.
For more information on this non-GAAP financial measure, please see the table captioned “Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.7851 to US
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Capital Markets
Yam Cheng
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
| FinVolution Group UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share data, or otherwise noted) | ||||
| As of December 31, | As of June 30, | |||
| 2025 | 2026 | |||
| RMB | RMB | USD | ||
| Assets | ||||
| Cash and cash equivalents | 4,285,121 | 3,259,378 | 480,373 | |
| Restricted cash | 1,912,850 | 1,631,542 | 240,460 | |
| Short-term investments | 3,015,226 | 3,161,992 | 466,020 | |
| Investments | 1,141,816 | 1,164,822 | 171,674 | |
| Quality assurance receivable, net of credit loss allowance for quality assurance receivable of RMB581,475 and RMB666,160 as of December 31, 2025 and June 30, 2026, respectively | 1,315,184 | 1,421,677 | 209,529 | |
| Intangible assets | 270,246 | 206,483 | 30,432 | |
| Property, equipment and software, net | 641,316 | 620,700 | 91,480 | |
| Loans receivable, net of credit loss allowance for loans receivable of RMB544,905 and RMB416,552 as of December 31, 2025 and June 30, 2026, respectively | 6,471,619 | 6,597,360 | 972,331 | |
| Accounts receivable and contract assets, net of credit loss allowance for accounts receivable and contract assets of RMB340,816 and RMB286,557 as of December 31, 2025 and June 30, 2026, respectively | 2,028,585 | 2,895,985 | 426,815 | |
| Deferred tax assets | 2,992,071 | 3,504,367 | 516,480 | |
| Right of use assets | 52,020 | 45,000 | 6,632 | |
| Prepaid expenses and other assets | 1,207,791 | 1,484,090 | 218,728 | |
| Goodwill | 79,759 | 79,759 | 11,755 | |
| Total assets | 25,413,604 | 26,073,155 | 3,842,709 | |
| Deferred guarantee income | 1,119,004 | 1,256,324 | 185,159 | |
| Liability from quality assurance commitment | 2,574,842 | 2,684,907 | 395,706 | |
| Payroll and welfare payable | 361,188 | 244,077 | 35,972 | |
| Taxes payable | 177,064 | 477,073 | 70,312 | |
| Short-term borrowings | 170,408 | 387,456 | 57,104 | |
| Funds payable to investors of consolidated trusts | 778,531 | 739,575 | 109,000 | |
| Contract liability | 226 | - | - | |
| Deferred tax liabilities | 786,556 | 736,814 | 108,593 | |
| Accrued expenses and other liabilities | 1,448,231 | 1,619,544 | 238,692 | |
| Leasing liabilities | 44,711 | 40,061 | 5,904 | |
| Convertible senior notes | 1,019,266 | 991,199 | 146,085 | |
| Long-term borrowings | 89,590 | 155,789 | 22,960 | |
| Total liabilities | 8,569,617 | 9,332,819 | 1,375,487 | |
| Commitments and contingencies | ||||
| FinVolution Group Shareholders’ equity | ||||
| Ordinary shares | 103 | 103 | 15 | |
| Additional paid-in capital | 5,908,586 | 5,986,830 | 882,350 | |
| Treasury stock | (2,465,259) | (2,831,861) | (417,365) | |
| Statutory reserves | 1,042,312 | 1,042,312 | 153,618 | |
| Accumulated other comprehensive income | 13,027 | 32,870 | 4,846 | |
| Retained Earnings | 12,051,332 | 12,401,237 | 1,827,716 | |
| Total FinVolution Group shareholders’ equity | 16,550,101 | 16,631,491 | 2,451,180 | |
| Non-controlling interest | 293,886 | 108,845 | 16,042 | |
| Total shareholders' equity | 16,843,987 | 16,740,336 | 2,467,222 | |
| Total liabilities and shareholders’ equity | 25,413,604 | 26,073,155 | 3,842,709 | |
| FinVolution Group UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (All amounts in thousands, except share data, or otherwise noted) | ||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||
| 2025 | 2026 | 2025 | 2026 | |||||||
| RMB | RMB | USD | RMB | RMB | USD | |||||
| Operating revenue: | ||||||||||
| Loan facilitation service fees | 1,515,349 | 1,313,757 | 193,624 | 2,993,147 | 2,495,071 | 367,728 | ||||
| Post-facilitation service fees | 425,595 | 385,994 | 56,888 | 806,209 | 734,337 | 108,228 | ||||
| Guarantee income | 1,046,615 | 904,520 | 133,310 | 2,146,129 | 1,790,589 | 263,900 | ||||
| Net interest income | 272,098 | 474,296 | 69,903 | 513,712 | 958,977 | 141,336 | ||||
| Other revenue | 318,294 | 324,602 | 47,840 | 599,795 | 634,257 | 93,478 | ||||
| Net revenue | 3,577,951 | 3,403,169 | 501,565 | 7,058,992 | 6,613,231 | 974,670 | ||||
| Operating expenses: | ||||||||||
| Origination, servicing expenses and other cost of revenue | (674,544) | (732,912) | (108,018) | (1,295,009) | (1,478,084) | (217,843) | ||||
| Sales and marketing expenses | (606,444) | (480,851) | (70,869) | (1,136,147) | (973,298) | (143,446) | ||||
| Research and development expenses | (128,974) | (118,934) | (17,529) | (255,015) | (244,393) | (36,019) | ||||
| General and administrative expenses | (110,196) | (106,349) | (15,674) | (217,090) | (220,192) | (32,452) | ||||
| Provision for accounts receivable and contract assets | (106,345) | (97,868) | (14,424) | (224,063) | (209,382) | (30,859) | ||||
| Provision for loans receivable | (98,379) | (164,435) | (24,235) | (183,793) | (382,583) | (56,386) | ||||
| Credit losses for quality assurance commitment | (987,139) | (1,108,811) | (163,419) | (1,998,754) | (1,965,448) | (289,671) | ||||
| Impairment of goodwill and intangible assets | (50,411) | (63,760) | (9,397) | (50,411) | (63,760) | (9,397) | ||||
| Total operating expenses | (2,762,432) | (2,873,920) | (423,565) | (5,360,282) | (5,537,140) | (816,073) | ||||
| Operating profit | 815,519 | 529,249 | 78,000 | 1,698,710 | 1,076,091 | 158,597 | ||||
| Interest expenses | (1,444) | (20,018) | (2,950) | (2,096) | (37,165) | (5,477) | ||||
| Other income, net | 115,908 | 33,900 | 4,996 | 124,941 | 18,379 | 2,709 | ||||
| Profit before income tax expense | 929,983 | 543,131 | 80,046 | 1,821,555 | 1,057,305 | 155,829 | ||||
| Income tax expenses | (178,670) | (116,361) | (17,149) | (332,601) | (209,478) | (30,873) | ||||
| Net profit | 751,313 | 426,770 | 62,897 | 1,488,954 | 847,827 | 124,956 | ||||
| Less: Net profit/(loss) attributable to non-controlling interest shareholders | 4,316 | (14,781) | (2,178) | (4,449) | (8,786) | (1,295) | ||||
| Net profit attributable to FinVolution Group | 746,997 | 441,551 | 65,075 | 1,493,403 | 856,613 | 126,251 | ||||
| Foreign currency translation adjustment, net of nil tax | 705 | (5,213) | (768) | (15,568) | 19,843 | 2,924 | ||||
| Total comprehensive income attributable to FinVolution Group | 747,702 | 436,338 | 64,307 | 1,477,835 | 876,456 | 129,175 | ||||
| Weighted average number of ordinary shares used in computing net profit per share | ||||||||||
| Basic | 1,280,035,833 | 1,179,633,966 | 1,179,633,966 | 1,272,937,319 | 1,186,923,976 | 1,186,923,976 | ||||
| Diluted | 1,322,804,429 | 1,252,313,020 | 1,252,313,020 | 1,319,415,709 | 1,268,035,160 | 1,268,035,160 | ||||
| Net profit per share attributable to FinVolution Group’s ordinary shareholders | ||||||||||
| Basic | 0.58 | 0.37 | 0.06 | 1.17 | 0.72 | 0.11 | ||||
| Diluted | 0.56 | 0.36 | 0.05 | 1.13 | 0.69 | 0.10 | ||||
| Net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equals five ordinary shares) | ||||||||||
| Basic | 2.92 | 1.87 | 0.28 | 5.87 | 3.61 | 0.53 | ||||
| Diluted | 2.82 | 1.80 | 0.26 | 5.66 | 3.44 | 0.51 | ||||
| FinVolution Group UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (All amounts in thousands, except share data, or otherwise noted) | |||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||
| 2025 | 2026 | 2025 | 2026 | ||||||||
| RMB | RMB | USD | RMB | RMB | USD | ||||||
| Net cash provided by/(used in) operating activities | 8,627 | (389,983) | (57,477) | 530,962 | (805,354) | (118,695) | |||||
| Net cash (used in)/ provided by investing activities | (1,025,083) | (515,472) | (75,971) | (659,887) | 271,911 | 40,075 | |||||
| Net cash provided by/(used in) financing activities | 658,029 | (708,061) | (104,355) | 459,698 | (698,643) | (102,967) | |||||
| Effect of exchange rate changes on cash and cash equivalents | 5,754 | (46,217) | (6,811) | (5,511) | (74,965) | (11,048) | |||||
| Net increase in cash, cash equivalent and restricted cash | (352,673) | (1,659,733) | (244,614) | 325,262 | (1,307,051) | (192,635) | |||||
| Cash, cash equivalent and restricted cash at beginning of period | 7,425,007 | 6,550,653 | 965,447 | 6,747,072 | 6,197,971 | 913,468 | |||||
| Cash, cash equivalent and restricted cash at end of period | 7,072,334 | 4,890,920 | 720,833 | 7,072,334 | 4,890,920 | 720,833 | |||||
| FinVolution Group UNAUDITED Reconciliation of GAAP and Non-GAAP Results (All amounts in thousands, except share data, or otherwise noted) | |||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | ||||||||
| 2025 | 2026 | 2025 | 2026 | ||||||
| RMB | RMB | USD | RMB | RMB | USD | ||||
| Net Revenues | 3,577,951 | 3,403,169 | 501,565 | 7,058,992 | 6,613,231 | 974,670 | |||
| Less: total operating expenses | (2,762,432) | (2,873,920) | (423,565) | (5,360,282) | (5,537,140) | (816,073) | |||
| Operating Profit | 815,519 | 529,249 | 78,000 | 1,698,710 | 1,076,091 | 158,597 | |||
| Add: share-based compensation expenses | 39,318 | 42,866 | 6,318 | 73,997 | 81,039 | 11,944 | |||
| Non-GAAP adjusted operating profit | 854,837 | 572,115 | 84,318 | 1,772,707 | 1,157,130 | 170,541 | |||
| Operating Margin | |||||||||
| Non-GAAP operating margin | |||||||||
| Non-GAAP adjusted operating profit | 854,837 | 572,115 | 84,318 | 1,772,707 | 1,157,130 | 170,541 | |||
| Less: interest expenses | (1,444) | (20,018) | (2,950) | (2,096) | (37,165) | (5,477) | |||
| Add: other income, net | 115,908 | 33,900 | 4,996 | 124,941 | 18,379 | 2,709 | |||
| Less: income tax expenses | (178,670) | (116,361) | (17,149) | (332,601) | (209,478) | (30,873) | |||
| Non-GAAP net profit | 790,631 | 469,636 | 69,215 | 1,562,951 | 928,866 | 136,900 | |||
| Less: Net profit/(loss) attributable to non-controlling interest shareholders | 4,316 | (14,781) | (2,178) | (4,449) | (8,786) | (1,295) | |||
| Non-GAAP net profit attributable to FinVolution Group | 786,316 | 484,417 | 71,393 | 1,567,400 | 937,652 | 138,195 | |||
| Weighted average number of ordinary shares used in computing net income per share | |||||||||
| Basic | 1,280,035,833 | 1,179,633,966 | 1,179,633,966 | 1,272,937,319 | 1,186,923,976 | 1,186,923,976 | |||
| Diluted | 1,322,804,429 | 1,252,313,020 | 1,252,313,020 | 1,319,415,709 | 1,268,035,160 | 1,268,035,160 | |||
| Non-GAAP net profit per share attributable to FinVolution Group’s ordinary shareholders | |||||||||
| Basic | 0.61 | 0.41 | 0.06 | 1.23 | 0.79 | 0.12 | |||
| Diluted | 0.59 | 0.39 | 0.06 | 1.19 | 0.75 | 0.11 | |||
| Non-GAAP net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equal five ordinary shares) | |||||||||
| Basic | 3.07 | 2.05 | 0.30 | 6.16 | 3.95 | 0.58 | |||
| Diluted | 2.97 | 1.97 | 0.29 | 5.94 | 3.76 | 0.54 | |||
| FinVolution Group Selected Segment Information (All amounts in thousands, except share data, or otherwise noted) | |||||
| For the Three Months Ended June 30, 2026 | |||||
| Chinese Mainland | Overseas Markets(1) | Others(2) | Elimination | Total | |
| RMB | RMB | RMB | RMB | RMB | |
| Net Revenue | 2,396,725 | 930,283 | 81,676 | (5,515) | 3,403,169 |
| Less(3): Operating Expenses (4) | (1,771,964) | (876,648) | (124,197) | 5,515 | (2,767,294) |
| Operating Segment Profit/(Loss) | 624,761 | 53,635 | (42,521) | - | 635,875 |
| Less: Unallocated expenses(5) | (106,626) | ||||
| Operating profit | 529,249 | ||||
| For the Three Months Ended June 30, 2025 | |||||
| | Chinese Mainland | Overseas Markets(1) | Others(2) | Elimination | Total |
| RMB | RMB | RMB | RMB | RMB | |
| Net Revenue | 2,781,295 | 788,680 | 11,248 | (3,272) | 3,577,951 |
| Less(3): Operating Expenses (4) | (1,867,744) | (763,104) | (45,127) | 3,272 | (2,672,703) |
| Operating Segment Profit/(Loss) | 913,551 | 25,576 | (33,879) | - | 905,248 |
| Less: Unallocated expenses(5) | (89,729) | ||||
| Operating profit | 815,519 | ||||
Notes:
(1): “Overseas Markets” includes Indonesia, the Philippines and Australia.
(2): “Others” includes a combination of multiple business activities that each does not meet the quantitative thresholds to qualify as reportable segments.
(3): The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(4): “Operating Expenses” includes Origination, servicing expenses and other costs of revenue, Sales and marketing expenses, General and administrative expenses, Research and development expenses, Credit losses for quality assurance commitment, Provision for loans receivable and Provision for accounts receivable and contract assets.
(5): Unallocated expenses are mainly related to share-based compensation, impairment of goodwill of prior acquisitions, and other miscellaneous items that are not allocated to segments. These expenses are excluded from segment results as they are not reviewed by the CODM as part of segment performance.
| FinVolution Group Selected Segment Information (All amounts in thousands, except share data, or otherwise noted) | |||||
| For the Three Months Ended June 30, 2026 | |||||
| Chinese Mainland | Overseas Markets | Others | Unallocated expenses | Total | |
| RMB | RMB | RMB | RMB | RMB | |
| Operating profit | 624,761 | 53,635 | (42,521) | (106,626) | 529,249 |
| Add: Depreciation and amortization | 17,180 | 1,625 | 267 | - | 19,072 |
| Add: Share-based compensation expenses | - | - | - | 42,866 | 42,866 |
| Non-GAAP Adjusted EBITDA | 641,941 | 55,260 | (42,254) | (63,760) | 591,187 |
| For the Three Months Ended June 30, 2025 | |||||
| Chinese Mainland | Overseas Markets | Others | Unallocated expenses | Total | |
| RMB | RMB | RMB | RMB | RMB | |
| Operating profit | 913,551 | 25,576 | (33,879) | (89,729) | 815,519 |
| Add: Depreciation and amortization | 17,035 | 1,020 | 125 | - | 18,180 |
| Add: Share-based compensation expenses | - | - | - | 39,318 | 39,318 |
| Non-GAAP Adjusted EBITDA | 930,586 | 26,596 | (33,754) | (50,411) | 873,017 |
Note:
“Non-GAAP Adjusted EBITDA” represents operating profit (loss) plus (a) depreciation and amortization expenses and (b) share-based compensation expenses.
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