X Financial - XYF STOCK NEWS

X Financial (NYSE: XYF) reported strong Q4 and FY2024 financial results, with significant growth in key metrics. Q4 total loan facilitation reached RMB32,297 million, up from RMB26,134 million year-over-year. Q4 net revenue increased 43.3% to RMB1,708.7 million, while net income more than doubled to RMB385.6 million.

For FY2024, total net revenue grew 22% to RMB5,871.8 million, with net income reaching RMB1,539.9 million. The company showed improved asset quality with delinquency rates decreasing to 1.17% for 31-60 days past due loans. Active borrowers increased to 2,120,068 in Q4 2024.

The company allocated US$76 million to shareholder returns through share repurchases and dividends in 2024. Management projects approximately 30% loan volume growth for 2025, supported by favorable government policies and continued AI technology integration across operations.

X Financial (NYSE: XYF), a leading online personal finance company in China, has scheduled to release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. The results will be announced before U.S. markets open on Thursday, March 20, 2025.

The company's management team will host an earnings conference call at 7:00 AM U.S. Eastern Time (7:00 PM Beijing/Hong Kong Time) on the same day. A live and archived webcast of the conference call will be available on the company's investor relations website.

X Financial (NYSE: XYF) has announced a significant share repurchase agreement to buy back 6,349,206 ADSs at $7.67 per ADS, totaling approximately $48.7 million. The Board approved a new share repurchase plan of up to $50 million, effective until June 30, 2026. In 2024, the company returned about $76.0 million to shareholders through various means, including $16.5 million in cash dividends, $9.2 million in tender offer, and $48.7 million in the recent repurchase.

The total shares repurchased in 2024 represented approximately 17.8% of outstanding ordinary shares as of December 31, 2023. The company plans to fund the new repurchase plan from its existing cash balance.

X Financial (XYF) reported strong Q3 2024 results with total net revenue increasing 13.3% YoY to RMB1,582.5 million. The company's non-GAAP adjusted net income reached a record high of RMB433.6 million, up 15.8% YoY. Total loan amount facilitated was RMB28,338 million, down 3.8% YoY but up 24.6% QoQ. Active borrowers increased 8.6% YoY to 1,965,248. The company improved its asset quality with delinquency rates for loans past due 31-60 days decreasing to 1.02%. For Q4 2024, X Financial expects loan facilitation volume between RMB30-31 billion, with monthly volumes expected to exceed RMB10 billion.

X Financial (NYSE: XYF) announced it will hold its 2024 annual general meeting on December 20, 2024, at its headquarters in Shenzhen, China. The meeting will serve as an open forum for shareholders to discuss company affairs with management, with no proposals requiring shareholder approval. The record date is set for December 9, 2024, and both Class A and Class B ordinary shareholders, as well as ADS holders, are welcome to attend in person. The company's annual report for FY2023 is available on their investor relations website and the SEC's website, with hard copies available upon request.

X Financial (NYSE: XYF) announced it will release its unaudited financial results for the third quarter ended September 30, 2024, before U.S. markets open on Wednesday, November 27, 2024. The company will host an earnings conference call at 7:00 AM U.S. Eastern Time on the same day. A replay of the conference call will be available until December 4, 2024, and interested parties can access a live and archived webcast of the conference call through the company's investor relations website.

X Financial (NYSE: XYF) reported strong Q2 2024 financial results, with total net revenue increasing 12.5% year-over-year to RMB1,372.6 million. Net income grew 13.4% to RMB415.3 million, a record high for the company. The total loan amount facilitated and originated decreased 12.1% year-over-year but increased 5.8% sequentially to RMB22,749 million. Delinquency rates for loans past due 31-60 days and 91-180 days were 1.29% and 4.38% respectively. The company expects loan volumes to gradually recover in H2 2024 and announced a semi-annual dividend of US$0.17 per ADS. X Financial also initiated a tender offer to purchase 2 million ADSs, which was completed in July 2024.

X Financial (NYSE: XYF), a leading online personal finance company in China, has announced it will release its unaudited financial results for the second quarter ended June 30, 2024, before U.S. markets open on Thursday, August 22, 2024. The company's management team will host an earnings conference call at 7:00 AM U.S. Eastern Time on the same day. Dial-in details for the call have been provided, including numbers for the United States, Hong Kong, Mainland China, and international callers. A replay of the conference call will be available until August 29, 2024. Additionally, a live and archived webcast of the call will be accessible at https://ir.xiaoyinggroup.com.

X Financial (NYSE: XYF) has completed its tender offer to purchase up to 2 million American Depositary Shares (ADSs) at $4.52 per ADS. The offer, which expired on July 12, 2024, resulted in 2,026,640 ADSs being validly tendered. The company increased its purchase amount to accept all tendered ADSs. CFO Frank Fuya Zheng stated that this buyback provides liquidity to exiting shareholders at a premium while allowing remaining shareholders to increase their ownership stake. Following the tender offer, X Financial expects to have 186,872,295 Class A ordinary shares outstanding. The company plans to continue exploring methods like dividends and share buybacks to return value to shareholders when profitability allows.