Finvolution Group Stock Price, News & Analysis

FinVolution Group (NYSE: FINV) announced it will report its third-quarter 2022 unaudited financial results on November 14, 2022, after U.S. markets close. An earnings conference call will be held at 7:30 PM ET the same day. Interested participants are encouraged to dial in early to connect to the call. The company's platform connects individual borrowers with financial institutions in China and boasts over 149.3 million cumulative registered users as of June 30, 2022.

FinVolution Group (NYSE: FINV) announced a fivefold increase in the financing facility for its Indonesian subsidiary, AdaKami, from 100 billion to 500 billion Rupiah (US$34.9 million) through PT Bank Jago. This expansion will enhance AdaKami's capacity to offer credit access to more local consumers, promoting financial inclusion. The partnership with Bank Jago, established in October 2021, is pivotal for AdaKami's growth strategy in Indonesia. CEO Feng Zhang emphasized the importance of this expanded financing in transitioning to higher-quality borrowers and enhancing financial outreach.

FinVolution Group (NYSE: FINV) announced an expansion of its share repurchase program from US$60 million to US$140 million, effective until December 31, 2023. This decision reflects their commitment to enhancing shareholder value, with a cumulative total of US$260 million allocated to buybacks since 2018. The plan aims to utilize existing cash reserves to support strategic investments while maintaining strong operational performance. CEO Feng Zhang and Chairman Shaofeng Gu expressed confidence in the company’s financial flexibility and long-term growth potential amidst market challenges.

FinVolution Group reported strong second-quarter results for 2022, achieving a record total transaction volume of RMB41.5 billion, marking a 24.3% increase year-over-year. The net revenue rose by 11.8% to RMB2,666 million, while net profit was RMB585.2 million, a 5.7% decline. The outstanding loan balance surged 43.9% to RMB56.4 billion. Small business loans increased by 67.7%, comprising 25.1% of total volume. However, the company reported a 6.2% drop in diluted net profit per share. A cautious outlook anticipates third-quarter transaction volume between RMB44.0 billion and RMB45.0 billion.

FinVolution Group (NYSE: FINV), a leading fintech platform, will report its second quarter 2022 unaudited financial results on August 22, 2022, after U.S. market close. The management will hold an earnings call at 8:30 PM ET on the same day. Dial-in details for various regions have been provided. Established in 2007, FinVolution connects underserved borrowers with financial institutions and is recognized for its innovative technologies in credit risk assessment and fraud detection. As of March 31, 2022, the company had over 145.3 million cumulative registered users.

FinVolution Group (NYSE: FINV), a leading fintech platform in China, announced its membership in the United Nations Global Compact (UNGC) on June 22, 2022. This commitment underscores FinVolution's dedication to corporate responsibility across human rights, labor, environment, and anti-corruption. With over 145.3 million registered users as of March 31, 2022, the company aims to enhance its socially responsible business practices globally. The UNGC, launched in 2000, is the world's largest corporate sustainability initiative, promoting responsible business behavior among its 15,000+ signatories.

FinVolution Group (FINV) reported impressive financial results for Q1 2022, highlighted by a record total transaction volume of RMB39.7 billion, a 48.1% year-over-year increase. While net revenue rose 15.8% to RMB2,446.8 million, net profit fell 9.9% to RMB534.3 million compared to Q1 2021. The company maintained strong operational performance with 145.3 million cumulative registered users and growth in small business loans, which saw a 122.7% increase. Despite a positive outlook, the delinquency ratio rose to 1.64%.

FinVolution Group (NYSE: FINV) will report its Q1 2022 financial results on May 31, 2022, after U.S. market close. A conference call featuring management will take place at 8:30 PM ET on the same day. Investors can access a live webcast at https://ir.finvgroup.com. The company continues to connect underserved borrowers with financial institutions in China, having served over 140.3 million cumulative registered users by December 31, 2021. Details for participation and dial-in numbers for the call are provided.