FinVolution (NYSE: FINV) lifts dividend as 2026 revenue seen lower

Rhea-AI Filing Summary

FinVolution Group reported resilient 2025 results but signaled a tougher 2026. Full-year 2025 revenue reached RMB13.6 billion, up 3.8% year over year, while net profit rose 6.6% to RMB2.55 billion. International transaction volume grew to RMB14.0 billion and international revenue to RMB3.3 billion, up 38.6% and 32.0% respectively, contributing 24.6% of total net revenues.

In contrast, fourth-quarter 2025 net revenue fell to RMB3.02 billion from RMB3.46 billion and net profit declined to RMB415.5 million from RMB680.8 million, reflecting weaker China activity and higher provisions. Management guided 2026 total revenue to RMB11.5–12.9 billion, implying a 5–15% decline from 2025.

The company is returning significant cash to shareholders. For 2025 it allocated about US$181.7 million through US$107.2 million of share repurchases and US$74.5 million of dividends. The board approved a higher cash dividend of US$0.306 per ADS, up 10.5% year over year and equal to roughly a 20.5% payout of 2025 net income.

Positive

• None.

Negative

• 2026 revenue guidance implies decline: management expects 2026 total revenue of RMB11.5–12.9 billion, representing an approximately 5–15% year-over-year decrease from 2025, highlighting anticipated headwinds in the core China market despite international growth.

Insights

Equity research analyst

FinVolution grows 2025 profit and international business but guides 2026 revenue down.

FinVolution Group delivered modest full-year growth in a difficult China environment. 2025 revenue reached RMB13.6 billion, up 3.8%, and net profit increased 6.6% to RMB2.55 billion. International revenue climbed 32.0% to RMB3.3 billion, representing 24.6% of total net revenues, as overseas transaction volume expanded 38.6%.

Quarterly trends were weaker. In Q4 2025, net revenue declined from RMB3.46 billion to RMB3.02 billion and net profit fell from RMB680.8 million to RMB415.5 million, driven by lower China transaction volumes, tighter underwriting and higher provisions. Mainland transaction volume and outstanding loan balance both contracted, while international loan balances and borrowers grew quickly.

Capital returns are substantial: 2025 buybacks totaled US$107.2 million, and dividends US$74.5 million, for about a 50.0% payout of annual net income. The board raised the dividend to US$0.306 per ADS, a 10.5% increase, implying a 20.5% payout ratio. However, management’s 2026 revenue guidance of RMB11.5–12.9 billion, a 5–15% year-over-year decline, signals regulatory and macro headwinds in China remain significant despite strong international momentum.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2026

Commission File Number: 001-38269

FinVolution Group

Building G1, No. 999 Dangui Road

Pudong New District, Shanghai 201203

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒      Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	FinVolution Group
	By:	/s/ Jiayuan Xu
	Name:	Jiayuan Xu
	Title:	Chief Financial Officer

Date: March 18, 2026

Exhibit Index

Exhibit 99.1—Press Release—FinVolution Group Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results

Exhibit 99.2—Press Release—FinVolution Group Announces Dividend Increase to US$0.306 per American Depositary Share, Up 10.5% Year-Over-Year

Exhibit 99.1

FinVolution Group Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results

-Full Year 2025 Revenue reached RMB13.6 billion, up 3.8% year-over-year-

-Full Year 2025 International Transaction Volume reached RMB14.0 billion, up 38.6% year-over-year-

- Full Year International Revenues reached RMB3.3 billion, up 32.0% year-over-year and representing 24.6% of total net revenues-

SHANGHAI, March 16, 2026 /PRNewswire/ — FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform across China and international markets, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025.

		For the Three Months Ended/As of												For the Full Year Ended / As of December 31,
		December 31, 2024				December 31, 2025				YoY Change				2024				2025				YoY Change
Total Transaction Volume (RMB in billions)1			56.9				42.8				-24.8	%			206.2				200.3				-2.9	%
Transaction Volume (China’s Mainland)2			54.0				38.7				-28.3	%			196.1				186.3				-5.0	%
Transaction Volume (International)3			2.9				4.1				41.4	%			10.1				14.0				38.6	%
Total Outstanding Loan Balance (RMB in billions)			71.5				70.9				-0.8	%			71.5				70.9				-0.8	%
Outstanding Loan Balance (China’s Mainland)4			69.8				68.3				-2.1	%			69.8				68.3				-2.1	%
Outstanding Loan Balance (International)5			1.7				2.6				52.9	%			1.7				2.6				52.9	%

Fourth Quarter 2025 China Market Operational Highlights

●	Cumulative registered users6 reached 187.4 million as of December 31, 2025, an increase of 8.6% compared with December 31, 2024.
●	Cumulative borrowers7 reached 29.0 million as of December 31, 2025, an increase of 8.2% compared with December 31, 2024.
●	Number of unique borrowers8 for the fourth quarter of 2025 was 1.5 million, a decrease of 28.6% compared with the same period of 2024.
●	Transaction volume2 was RMB38.7 billion for the fourth quarter of 2025, a decrease of 28.3% compared with the same period of 2024.
●	Transaction volume facilitated for repeat individual borrowers9 for the fourth quarter of 2025 was RMB30.8 billion, a decrease of 34.0% compared with the same period of 2024.
●	Outstanding loan balance4 was RMB68.3 billion as of December 31, 2025, a decrease of 2.1% compared with December 31, 2024.
●	Average loan size10 was RMB12,877 for the fourth quarter of 2025, compared with RMB11,466 for the same period of 2024.
●	Average loan tenure11 was 8.2 months for the fourth quarter of 2025, compared with 8.0 months for the same period of 2024.
●	90 day+ delinquency ratio12 was 2.85% as of December 31, 2025.

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Fourth Quarter 2025 International Market Operational Highlights

●	Cumulative registered users13 reached 52.1 million as of December 31, 2025, an increase of 45.9% compared with December 31, 2024.
●	Cumulative borrowers14 for the international markets reached 11.7 million as of December 31, 2025, an increase of 67.1% compared with December 31, 2024.
●	Number of unique borrowers15 for the fourth quarter of 2025 was 3.8 million, an increase of 133.8% compared with the same period of 2024.
●	Number of new borrowers16 for the fourth quarter of 2025 was 1.6 million, an increase of 117.3% compared with the same period of 2024.
●	Transaction volume3 reached RMB4.1 billion for the fourth quarter of 2025, an increase of 41.4% compared with the same period of 2024.
●	Outstanding loan balance5 reached RMB2.6 billion as of December 31, 2025, an increase of 52.9% compared with December 31, 2024.
●	International business revenue was RMB950.9 million (US$136.0 million) for the fourth quarter of 2025, an increase of 28.6% compared with the same period of 2024, representing 31.4% of total revenue for the fourth quarter of 2025.

Fourth Quarter 2025 Financial Highlights

●	Net revenue was RMB3,023.9 million (US$432.4 million) for the fourth quarter of 2025, compared with RMB3,456.7 million for the same period of 2024.
●	Net profit was RMB415.5 million (US$59.4 million) for the fourth quarter of 2025, compared with RMB680.8 million for the same period of 2024.
●	Non-GAAP adjusted operating income,17 which excludes share-based compensation expenses before tax, was RMB519.8 million (US$74.3 million) for the fourth quarter of 2025, compared with RMB822.0 million for the same period of 2024.
●	Diluted net profit per American depositary share (“ADS”) was RMB1.63 (US$0.23) and diluted net profit per share was RMB0.33 (US$0.05) for the fourth quarter of 2025, compared with RMB2.61 and RMB0.52 for the same period of 2024, respectively.
●	Non-GAAP diluted net profit per ADS was RMB1.77 (US$0.25) and non-GAAP diluted net profit per share was RMB0.35 (US$0.05) for the fourth quarter of 2025, compared with RMB2.74 and RMB0.55 for the same period of 2024, respectively. Each ADS of the Company represents five Class A ordinary shares of the Company.

¹ Represents the total transaction volume facilitated in China’s Mainland and the international markets on the Company’s platforms during the period presented.

² Represents our transaction volume facilitated in China’s Mainland during the period presented. During the fourth quarter, RMB19.0 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

³ Represents our transaction volume facilitated in markets outside China’s Mainland during the period presented. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, for the period after its acquisition.

⁴ Outstanding loan balance (China’s Mainland) as of any date refers to the balance of outstanding loans in China’s Mainland market excluding loans delinquent for more than 180 days from such date. As of December 31, 2025, RMB37.8 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

⁵ Outstanding loan balance (international) as of any date refers to the balance of outstanding loans in the international markets excluding loans delinquent for more than 30 days from such date. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, as of December 31, 2025, covering both pre- and post-acquisition periods.

⁶ On a cumulative basis, the total number of users in China’s Mainland market registered on the Company’s platform as of December 31, 2025.

⁷ On a cumulative basis, the total number of borrowers in China’s Mainland market registered on the Company’s platform as of December 31, 2025.

⁸ Represents the total number of borrowers in China’s Mainland who successfully borrowed on the Company’s platform during the period presented.

⁹ Represents the transaction volume facilitated for repeat borrowers in China’s Mainland who successfully completed a transaction on the Company’s platform during the period presented.

¹⁰ Represents the average loan size on the Company’s platform in China’s Mainland during the period presented.

¹¹ Represents the average loan tenor on the Company’s platform in China’s Mainland during the period presented.

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¹² “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 China’s Mainland are not included in the calculation.

¹³ On a cumulative basis, the total number of users registered on the Company’s platforms outside China’s Mainland market, as of December 31, 2025. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, as of December 31, 2025, covering both pre- and post-acquisition periods.

¹⁴ On a cumulative basis, the total number of borrowers on the Company’s platforms outside China’s Mainland market, as of December 31, 2025. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, as of December 31, 2025, covering both pre- and post-acquisition periods.

¹⁵ Represents the total number of borrowers outside China’s Mainland who successfully borrowed on the Company platforms during the period presented. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, for the period after its acquisition.

¹⁶ Represents the total number of new borrowers outside China’s Mainland whose transactions were facilitated on the Company’s platforms during the period presented. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, for the period after its acquisition.

¹⁷ Please refer to “UNAUDITED Reconciliation of GAAP and Non-GAAP Results” for reconciliation between GAAP and Non-GAAP adjusted operating income.

Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution, commented, “In 2025, we proudly celebrated FinVolution’s 18th anniversary, marking a milestone in our evolution from a passionate Chinese fintech pioneer to a regional platform expanding responsible credit access across Asia and beyond. Despite a challenging macro and regulatory environment in China, we delivered resilient full-year results, with Group revenue of RMB13.6 billion, up 3.8% year over year, and net profit rising 6.6% to RMB2.5 billion. Our effective ‘Local Excellence, Global Outlook’ strategy drove international revenue to a record 31.4% contribution in the fourth quarter, highlighted by full-year profitability in Indonesia and the Philippines.

“We also made a strategic entry into our first developed market, Australia, employing the regulatory maturity and consumer-first mindset we have developed in China alongside our successful experience scaling in Southeast Asia. Going forward, our resilient risk management, ongoing AI innovation investments, and responsible growth will ensure prudent management of our China business while continue to accelerate sustainable international expansion. As we build on our international momentum, we remain committed to delivering growth and enduring value for our users, partners, and shareholders through disciplined execution,” concluded Mr. Li.

Mr. Jiayuan Xu, Chief Financial Officer of FinVolution, continued, “In the fourth quarter, we navigated a complex environment, prioritizing portfolio quality in China while sustaining strong growth internationally. Group net revenue was RMB3.0 billion and net income was RMB415.5 million, reflecting the near-term impact of tighter underwriting in China, offset by a 28.6% year-over-year increase in international revenues. We also recorded robust international transaction volume growth of 41.4% year over year to RMB4.1 billion and unique borrowers up 133.8% to 3.8 million, underscoring the resilience of our diversified model and our ability to adapt quickly in a dynamic landscape.

“Meanwhile, we continued to deliver meaningful shareholder returns, executing US$107.2 million in full-year buybacks, including a record US$40.7 million in the fourth quarter, and increasing our dividend per ADS by 10.5% to US$0.306, totaling approximately US$74.5 million for 2025. Our Chairman and senior management team recently invested an additional US$1.9 million of their own capital, reflecting strong internal confidence in our valuation and long-term prospects. We will continue to advance our strategy with a clear emphasis on execution quality and portfolio resilience, balancing growth and risk management to drive sustainable returns and value creation,” concluded Mr. Xu.

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Fourth Quarter 2025 Financial Results

Net revenue for the fourth quarter of 2025 was RMB3,023.9 million (US$432.4 million), compared with RMB3,456.7 million for the same period of 2024. This decrease was primarily due to decreases in loan facilitation service fees, post-facilitation service fees and guarantee income, partially offset by increases in net interest income and other revenue.

Loan facilitation service fees were RMB848.9 million (US$121.4 million) for the fourth quarter of 2025, compared with RMB1,344.8 million for the same period of 2024. The decrease was primarily due to decreases in the transaction volume and average rate of transaction service fees in the China market, partially offset by the increase in transaction volume in international markets.

Post-facilitation service fees were RMB392.8 million (US$56.2 million) for the fourth quarter of 2025, compared with RMB460.5 million for the same period of 2024. This decrease was primarily due to the rolling impact of deferred transaction fees.

Guarantee income was RMB948.5 million (US$135.6 million) for the fourth quarter of 2025, compared with RMB1,205.5 million for the same period of 2024. This decrease was primarily due to the decrease in risk-bearing loans in the China market, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.

Net interest income was RMB471.9 million (US$67.5 million) for the fourth quarter of 2025, compared with RMB217.9 million for the same period of 2024. This increase mainly resulted from the increase in the average outstanding loan balances of on-balance sheet loans in both China and the international markets, partially offset by the decrease in interest yield in the China market.

Other revenue was RMB361.8 million (US$51.7 million) for the fourth quarter of 2025, compared with RMB228.0 million for the same period of 2024. This increase was primarily due to the increase in the contributions from other revenue streams including other value-added services.

Origination, servicing expenses and other costs of revenue were RMB847.3 million (US$121.2 million) for the fourth quarter of 2025, compared with RMB664.0 million for the same period of 2024. This increase was primarily driven by the increase in employee expenditures and higher loan collection expenses in both China and the international markets.

Sales and marketing expenses were RMB512.4 million (US$73.3 million) for the fourth quarter of 2025, compared with RMB531.5 million for the same period of 2024. This decrease was primarily due to improved efficiency and decreased investment in marketing activities in China.

Research and development expenses were RMB142.6 million (US$20.4 million) for the fourth quarter of 2025, compared with RMB126.3 million for the same period of 2024. This increase was primarily due to increased investments in technology development.

General and administrative expenses were RMB124.5 million (US$17.8 million) for the fourth quarter of 2025, compared with RMB112.6 million for the same period of 2024, primarily due to higher professional service fees in the international market.

Provision for accounts receivable and contract assets was RMB106.4 million (US$15.2 million) for the fourth quarter of 2025, compared with RMB95.1 million for the same period of 2024. The increase was primarily due to increased transaction volume of off-balance sheet loans in the international market, partially offset by decrease in volume of off-balance sheet loans in the China market.

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Provision for loans receivable was RMB261.7 million (US$37.4 million) for the fourth quarter of 2025, compared with RMB64.3 million for the same period of 2024. This increase was primarily due to the increase in the outstanding loan balance of on-balance sheet loans in both China and the international markets.

Credit losses for quality assurance commitment were RMB546.4 million (US$78.1 million) for the fourth quarter of 2025, compared with RMB1,075.0 million for the same period of 2024. The decrease was primarily due to the decrease in risk-bearing loans in the China market.

Operating profit was RMB482.7 million (US$69.0 million) for the fourth quarter of 2025, compared with RMB787.9 million for the same period of 2024.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB519.8 million (US$74.3 million) for the fourth quarter of 2025, compared with RMB822.0 million for the same period of 2024.

Other income was RMB20.8 million (US$3.0 million) for the fourth quarter of 2025, compared with RMB25.9 million for the same period of 2024. The decrease was mainly due to lower gains from a reduction in investment products.

Income tax expense was RMB87.9 million (US$12.6 million) for the fourth quarter of 2025, compared with RMB133.1 million for the same period of 2024. This decrease was mainly due to the decrease in pre-tax profit.

Net profit was RMB415.5 million (US$59.4 million) for the fourth quarter of 2025, compared with RMB680.8 million for the same period of 2024.

Net profit attributable to ordinary shareholders of the Company was RMB424.7 million (US$60.7 million) for the fourth quarter of 2025, compared with RMB680.7 million for the same period of 2024.

Diluted net profit per ADS was RMB1.63 (US$0.23) and diluted net profit per share was RMB0.33 (US$0.05) for the fourth quarter of 2025, compared with RMB2.61 and RMB0.52 for the same period of 2024, respectively.

Non-GAAP diluted net profit per ADS was RMB1.77 (US$0.25) and non-GAAP diluted net profit per share was RMB0.35 (US$0.05) for the fourth quarter of 2025, compared with RMB2.74 and RMB0.55 for the same period of 2024, respectively. Each ADS represents five Class A ordinary shares of the Company.

As of December 31, 2025, the Company had cash and cash equivalents of RMB 4,285.1 million (US$612.8 million) and short-term investments, mainly in wealth management products and term deposits, of RMB3,015.2 million (US$431.2 million).

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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 China’s Mainland as of December 31, 2025. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.

Fiscal Year 2025 Financial Results

Net revenue for 2025 was RMB13,569.5 million (US$ 1,940.4 million), compared with RMB13,065.8 million in 2024. This increase was primarily due to increases in loan facilitation service fees, net interest income and other revenue, partially offset by decreases in guarantee income and post-facilitation service fees.

Loan facilitation service fees were RMB5,176.5 million (US$740.2 million) for 2025, compared with RMB4,694.4 million in 2024. The increase was primarily due to increases in transaction volume and average rate of transaction service fees in the international markets, partially offset by the decreases in transaction volume and average rate of transaction service fees in the China market.

Post-facilitation service fees were RMB1,629.8 million (US$233.1 million) for 2025, compared with RMB1,740.2 million in 2024. This decrease was primarily due to the rolling impact of deferred transaction fees.

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Guarantee income was RMB4,124.9 million (US$589.9 million) for 2025, compared with RMB5,085.3 million in 2024. This decrease was primarily due to the decrease in risk-bearing loans in the China market, partially offset by an increase in such loans in international markets, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.

Net interest income was RMB1,336.5 million (US$191.1 million) for 2025, compared with RMB853.8 million in 2024. This increase mainly resulted from the increase in the average outstanding loan balances of on-balance sheet loans in both China and the international markets.

Other revenue was RMB1,301.9 million (US$186.2 million) for 2025, compared with RMB692.1 million in 2024. This increase was primarily due to the increase in the contributions from other revenue streams including other value-added services.

Origination, servicing expenses and other costs of revenue were RMB2,900.1 million (US$414.7 million) for 2025, compared with RMB2,381.8 million in 2024. This increase was primarily driven by higher facilitation costs in both China and international markets.

Sales and marketing expenses were RMB2,200.5 million (US$314.7 million) for 2025, compared with RMB2,014.3 million in 2024 as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.

Research and development expenses were RMB536.6 million (US$76.7 million) for 2025, compared with RMB496.7 million in 2024. This increase was primarily due to increased investments in technology development.

General and administrative expenses were RMB442.1 million (US$63.2 million) for 2025, compared with RMB413.5 million in 2024, primarily due to increases in rents and renovation expenses, professional service fees and miscellaneous administrative expenses.

Provision for accounts receivable and contract assets was RMB426.0 million (US$60.9 million) for 2025, compared with RMB317.0 million in 2024. The increase was primarily due to increased transaction volume of off-balance sheet loans in the international market.

Provision for loans receivable was RMB637.7 million (US$91.2 million) for 2025, compared with RMB320.0 million in 2024. This increase was primarily due to the increase in the outstanding loan balance of on-balance sheet loans in both China and the international markets.

Credit losses for quality assurance commitment were RMB3,462.4 million (US$495.1 million) for 2025, compared with RMB4,587.3 million in 2024. The decrease was primarily due to the decrease in risk-bearing loans in the China market, partially offset by the increase in risk-bearing loans in the international markets.

Impairment of goodwill and intangible assets was RMB50.7 million (US$7.2 million) for 2025, compared with nil for the same period of 2024. The increase was primarily due to an impairment of goodwill related to a certain micro-lending company acquired by the Group in 2017, following a performance review during the year.

Operating profit was RMB2,913.3 million (US$416.6 million) for 2025, compared with RMB2,535.1 million in 2024.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB3,062.3 million (US$437.9 million) for 2025, compared with RMB2,679.2 million in 2024.

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Other income was RMB188.1 million (US$26.9 million) for 2025, compared with RMB310.1 million in 2024. The decrease was mainly due to lower gains from a reduction in investment products, reduced income from investments, and the reduction in government subsidies.

Income tax expense was RMB556.2 million (US$79.5 million) for 2025, compared with RMB457.4 million in 2024. This increase was mainly due to the increase in pre-tax profit and the increase in effective tax rate.

Net profit was RMB2,545.2 million (US$364.0 million) for 2025, compared with RMB2,387.8 million in 2024.

Net profit attributable to ordinary shareholders of the Company was RMB2,542.4 million (US$363.6 million) for 2025, compared with RMB2,383.1 million in 2024.

Shares Repurchase Update and Management Purchase

For the full year of 2025, the Company deployed approximately US$107.2 million to repurchase its own Class A ordinary shares in the form of ADSs. These repurchases included US$60.7 million worth of ADSs that were repurchased concurrently with the offering of convertible senior notes in June. As of December 31, 2025, in combination with the Company’s historical and existing share repurchase programs, the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$477.3 million since 2018.

In December 2025, Chairman of the Board Mr. Shaofeng Gu and other senior management of the Company, purchased in their personal capacity approximately 0.37 million of the Company’s ADS, with a total aggregate value of approximately US$1.9 million, independently of the Company’s share repurchase programs. The share purchases by senior management reflect strong conviction in the Company’s resilient business model, solid fundamentals, and accelerating international expansion. We believe these strengths, supported by the current valuation, position the Company well to execute its “Local Excellence, Global Outlook” strategy and deliver sustainable value to all stakeholders.

Business Outlook

Through prudent navigation of a complex environment, the Company delivered solid results in 2025. As a result of the near-term uncertainties introduced by recent regulatory changes in China, the Company expects its full-year 2026 total revenue guidance to be in the range of approximately RMB11.5 billion to RMB12.9 billion, representing a year-over-year decline of approximately 5% to 15%.

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 March 16, 2026 (8:30 AM Beijing/Hong Kong Time on March 17, 2026).

Dial-in details for the earnings conference call are as follows:

United States (toll free):	+1-888-346-8982
Canada (toll free):	+1-855-669-9657
International:	+1-412-902-4272
Hong Kong, China (toll free):	800-905-945
Mainland, China:	400-120-1203

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Participants should dial in at least five minutes before the scheduled start time and ask to be connected to the call for “FinVolution Group”.

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.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until March 23, 2026, by dialing the following telephone numbers:

United States / Canada (toll free):	+1-855-669-9658
International:	+1-412-317-0088
Replay Access Code:	9046716

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition across China and international 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 has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2025, the Company had 239.6 million cumulative registered users across China and international markets.

For more information, please visit https://ir.finvgroup.com

Use of Non-GAAP Financial Measures

We use non-GAAP adjusted operating income, non-GAAP operating margin, 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 income, non-GAAP operating margin, 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.

9

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 RMB6.9931 to US$1.00, the rate in effect as of December 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

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

10

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data, or otherwise noted)

		As of December 31,				As of December 31,
		2024				2025
		RMB				RMB				USD
Assets
Cash and cash equivalents			4,672,772				4,285,121				612,764
Restricted cash			2,074,300				1,912,850				273,534
Short-term investments			2,832,382				3,015,226				431,172
Investments			1,173,003				1,141,816				163,278
Quality assurance receivable, net of credit loss allowance for quality assurance receivable of RMB426,949 and RMB 581,475 as of December 31, 2024 and December 31, 2025, respectively			1,639,591				1,315,184				188,069
Intangible assets			137,298				270,246				38,645
Property, equipment and software, net			623,792				641,316				91,707
Loans receivable, net of credit loss allowance for loans receivable of RMB226,467 and RMB 544,905 as of December 31, 2024 and December 31, 2025, respectively			4,157,621				6,471,619				925,429
Accounts receivable and contract assets, net of credit loss allowance for accounts receivable and contract assets of RMB290,267 and RMB 340,816 as of December 31, 2024 and December 31, 2025, respectively			2,405,880				2,028,585				290,084
Deferred tax assets			2,513,865				2,992,071				427,860
Right of use assets			36,826				52,020				7,439
Prepaid expenses and other assets			1,289,380				1,207,791				172,712
Goodwill			50,411				79,759				11,405
Total assets			23,607,121				25,413,604				3,634,098
Liabilities and Shareholders’ Equity
Deferred guarantee income			1,515,950				1,119,004				160,015
Liability from quality assurance commitment			2,964,116				2,574,842				368,198
Payroll and welfare payable			290,389				361,188				51,649
Taxes payable			705,928				177,064				25,320
Short-term borrowings			5,594				170,408				24,368
Funds payable to investors of consolidated trusts			796,122				778,531				111,328
Contract liability			10,185				226				32
Deferred tax liabilities			491,213				786,556				112,476
Accrued expenses and other liabilities			1,245,184				1,448,231				207,094
Leasing liabilities			28,765				44,711				6,394
Convertible senior notes			-				1,019,266				145,753
Long-term borrowings			-				89,590				12,811
Total liabilities			8,053,446				8,569,617				1,225,438
Commitments and contingencies
FinVolution Group Shareholders’ equity
Ordinary shares			103				103				15
Additional paid-in capital			5,815,437				5,908,586				844,917
Treasury stock			(1,765,542	)			(2,465,259	)			(352,527	)
Statutory reserves			852,723				1,042,312				149,049
Accumulated other comprehensive income			92,626				13,027				1,863
Retained Earnings			10,208,717				12,051,332				1,723,318
Total FinVolution Group shareholders’ equity			15,204,064				16,550,101				2,366,635
Non-controlling interest			349,611				293,886				42,025
Total shareholders’ equity			15,553,675				16,843,987				2,408,660
Total liabilities and shareholders’ equity			23,607,121				25,413,604				3,634,098

11

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 December 31,												For the Year Ended December 31,
		2024				2025								2024				2025
		RMB				RMB				USD				RMB				RMB				USD
Operating revenue:
Loan facilitation service fees			1,344,799				848,943				121,397				4,694,380				5,176,457				740,224
Post-facilitation service fees			460,465				392,756				56,163				1,740,241				1,629,777				233,055
Guarantee income			1,205,502				948,461				135,628				5,085,296				4,124,934				589,858
Net interest income			217,927				471,922				67,484				853,779				1,336,459				191,111
Other Revenue			227,999				361,802				51,737				692,128				1,301,856				186,163
Net revenue			3,456,692				3,023,884				432,409				13,065,824				13,569,483				1,940,411
Operating expenses:
Origination, servicing expenses and other cost of revenue			(663,982	)			(847,318	)			(121,165	)			(2,381,839	)			(2,900,149	)			(414,716	)
Sales and marketing expenses			(531,530	)			(512,448	)			(73,279	)			(2,014,254	)			(2,200,543	)			(314,673	)
Research and development expenses			(126,257	)			(142,573	)			(20,388	)			(496,740	)			(536,617	)			(76,735	)
General and administrative expenses			(112,570	)			(124,454	)			(17,797	)			(413,548	)			(442,148	)			(63,226	)
Provision for accounts receivable and contract assets			(95,132	)			(106,405	)			(15,216	)			(317,049	)			(425,966	)			(60,912	)
Provision for loans receivable			(64,346	)			(261,657	)			(37,416	)			(320,013	)			(637,700	)			(91,190	)
Credit losses for quality assurance commitment			(1,074,955	)			(546,374	)			(78,130	)			(4,587,254	)			(3,462,384	)			(495,114	)
Impairment of goodwill and intangible assets			-				-				-				-				(50,676	)			(7,247	)
Total operating expenses			(2,668,772	)			(2,541,229	)			(363,391	)			(10,530,697	)			(10,656,183	)			(1,523,813	)
Operating profit			787,920				482,655				69,018				2,535,127				2,913,300				416,598
Other income, net			25,945				20,776				2,971				310,123				188,145				26,904
Profit before income tax expense			813,865				503,431				71,989				2,845,250				3,101,445				443,502
Income tax expenses			(133,110	)			(87,904	)			(12,570	)			(457,405	)			(556,243	)			(79,542	)
Net profit			680,755				415,527				59,419				2,387,845				2,545,202				363,960
Less: Net profit/(loss) attributable to non-controlling interest shareholders			50				(9,186	)			(1,314	)			4,699				2,797				400
Net profit attributable to FinVolution Group			680,705				424,713				60,733				2,383,146				2,542,405				363,560
Foreign currency translation adjustment, net of nil tax			28,205				(18,371	)			(2,627	)			12,620				(79,599	)			(11,383	)
Total comprehensive income attributable to FinVolution Group			708,910				406,342				58,106				2,395,766				2,462,806				352,177
Weighted average number of ordinary shares used in computing net income per share
Basic			1,266,235,809				1,240,449,252				1,240,449,252				1,287,853,207				1,259,849,521				1,259,849,521
Diluted			1,303,393,465				1,328,365,218				1,328,365,218				1,320,229,492				1,334,237,985				1,334,237,985
Net profit per share attributable to FinVolution Group’s ordinary shareholders
Basic			0.54				0.34				0.05				1.85				2.02				0.29
Diluted			0.52				0.33				0.05				1.81				1.92				0.27
Net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equal five ordinary shares)
Basic			2.69				1.71				0.24				9.25				10.09				1.44
Diluted			2.61				1.63				0.23				9.03				9.59				1.37

12

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in thousands, except share data, or otherwise noted)

		Three Months Ended December 31,												Year Ended December 31,
		2024				2025								2024				2025
		RMB				RMB				USD				RMB				RMB				USD
Net cash provided by operating activities			419,707				464,913				66,482				2,893,160				1,867,600				267,064
Net cash used in investing activities			(737,991	)			(330,241	)			(47,222	)			(2,295,816	)			(2,183,697	)			(312,263	)
Net cash provided by/(used in) financing activities			127,539				(530,864	)			(75,912	)			(622,715	)			(194,696	)			(27,841	)
Effect of exchange rate changes on cash and cash equivalents			5,407				(13,185	)			(1,888	)			3,053				(38,308	)			(5,480	)
Net decrease in cash, cash equivalent and restricted cash			(185,338	)			(409,377	)			(58,540	)			(22,318	)			(549,101	)			(78,520	)
Cash, cash equivalent and restricted cash at beginning of period			6,932,410				6,607,348				944,838				6,769,390				6,747,072				964,818
Cash, cash equivalent and restricted cash at end of period			6,747,072				6,197,971				886,298				6,747,072				6,197,971				886,298

13

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 December 31,												For the Year Ended December 31,
		2024				2025								2024				2025
		RMB				RMB				USD				RMB				RMB				USD
Net Revenues			3,456,692				3,023,884				432,409				13,065,824				13,569,483				1,940,411
Less: total operating expenses			(2,668,772	)			(2,541,229	)			(363,391	)			(10,530,697	)			(10,656,183	)			(1,523,813	)
Operating Income			787,920				482,655				69,018				2,535,127				2,913,300				416,598
Add: share-based compensation expenses			34,064				37,183				5,317				144,052				149,045				21,313
Non-GAAP adjusted operating income			821,984				519,838				74,335				2,679,179				3,062,345				437,911
Operating Margin			22.8	%			16.0	%			16.0	%			19.4	%			21.5	%			21.5	%
Non-GAAP operating margin			23.8	%			17.2	%			17.2	%			20.5	%			22.6	%			22.6	%
Non-GAAP adjusted operating income			821,984				519,838				74,335				2,679,179				3,062,345				437,911
Add: other income, net			25,945				20,776				2,971				310,123				188,145				26,904
Less: income tax expenses			(133,110	)			(87,904	)			(12,570	)			(457,405	)			(556,243	)			(79,542	)
Non-GAAP net profit			714,819				452,710				64,736				2,531,897				2,694,247				385,273
Net profit/(loss) attributable to non-controlling interest shareholders			50				(9,186	)			(1,314	)			4,699				2,797				400
Non-GAAP net profit attributable to FinVolution Group			714,769				461,896				66,050				2,527,198				2,691,450				384,873
Weighted average number of ordinary shares used in computing net income per share
Basic			1,266,235,809				1,240,449,252				1,240,449,252				1,287,853,207				1,259,849,521				1,259,849,521
Diluted			1,303,393,465				1,328,365,218				1,328,365,218				1,320,229,492				1,334,237,985				1,334,237,985
Non-GAAP net profit per share attributable to FinVolution Group’s ordinary shareholders
Basic			0.56				0.37				0.05				1.96				2.14				0.31
Diluted			0.55				0.35				0.05				1.91				2.03				0.29
Non-GAAP net profit per ADS attributable to FinVolution Group’s ordinary shareholders (one ADS equal five ordinary shares)
Basic			2.82				1.86				0.27				9.81				10.68				1.53
Diluted			2.74				1.77				0.25				9.57				10.15				1.44

14

Exhibit 99.2

FinVolution Group Announces Dividend Increase to US$0.306 per American Depositary Share, Up 10.5% Year-Over-Year

-Represents approximately 20.5% payout ratio of Net Income for FY 2025-

-Marks eighth consecutive year of dividend declaration-

SHANGHAI, March 16, 2026 /PRNewswire/ — FinVolution Group (“FinVolution,” or the “Company”) (NYSE: FINV), a leading fintech platform across China and international markets, today announced that its board of directors (the “Board”) has approved a cash dividend of US$0.306 per American Depositary Share, which represents a payout ratio of approximately 20.5% of the Company’s net income for fiscal year 2025. The dividend is expected to be distributed on or around May 7, 2026 to shareholders of record as of the close of business on April 16, 2026.

The decision to distribute dividends, and the amount of any such dividend payments, is made at the Board’s discretion based on the Company’s operations, earnings, cash flows, financial condition and other relevant factors.

For fiscal year 2025, the Company’s distributions to shareholders will total approximately US$181.7 million, consisting of US$107.2 million in share repurchases and US$74.5 million in dividends, representing a total payout ratio of approximately 50.0%.

Mr. Shaofeng Gu, Chairman of the Board of FinVolution, commented, “We are pleased to declare dividends for the eighth consecutive year, underscoring our unwavering commitment to shareholder returns. The fiscal year 2025 distribution reflects this dedication to creating long-term value, and we will continue to build on this track record of strong and consistent shareholder returns.”

Mr. Tiezheng Li, Vice Chairman of the Board and Chief Executive Officer of FinVolution commented, “Our Local Excellence, Global Outlook Strategy continues to drive robust performance across our core China market and accelerating international operations, fueling sustainable, high-quality growth. The strong execution of our capital return program underscores our confidence in our business outlook and our unwavering commitment to sharing the rewards of our growth with shareholders.”

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition across China and international 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 has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2025, the Company had 239.6 million cumulative registered users across China and international markets.

For more information, please visit https://ir.finvgroup.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 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

Email: ir@xinye.com

Piacente Financial Communications

Jenny Cai

Tel: +86 (10) 6508-0677

Email: finv@tpg-ir.com

In the United States:

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

E-mail: finv@tpg-ir.com

FAQ

How did FinVolution (FINV) perform financially in fiscal year 2025?

FinVolution grew steadily in 2025, with net revenue reaching RMB13,569.5 million and net profit rising to RMB2,545.2 million. Growth was driven by higher international transaction volumes, stronger net interest income and expanding contributions from other value-added revenue streams across its platforms.

What were FinVolution (FINV)’s key international business results for 2025?

FinVolution’s international business expanded rapidly in 2025. International transaction volume reached RMB14.0 billion, up 38.6% year over year, while international revenues rose 32.0% to RMB3.3 billion, representing 24.6% of total net revenues, supported by growth in markets including Indonesia, the Philippines and Australia.

How did FinVolution (FINV) perform in the fourth quarter of 2025?

Fourth-quarter 2025 results softened. Net revenue declined to RMB3,023.9 million from RMB3,456.7 million a year earlier, and net profit fell to RMB415.5 million from RMB680.8 million, reflecting weaker China transaction volumes, tighter underwriting, higher provisions and a shift toward international growth.

What 2026 revenue guidance did FinVolution (FINV) provide?

FinVolution expects 2026 total revenue between RMB11.5 billion and RMB12.9 billion, implying roughly a 5–15% year-over-year decline from 2025. Management cited near-term uncertainties from recent regulatory changes in China and evolving demand from customers and institutional partners across its markets.

How much is FinVolution (FINV)’s dividend per ADS and payout ratio for 2025?

The board approved a cash dividend of US$0.306 per ADS for fiscal 2025, up 10.5% year over year. This dividend represents a payout ratio of approximately 20.5% of 2025 net income, reflecting the company’s ongoing emphasis on returning capital to shareholders alongside business expansion.

What total capital did FinVolution (FINV) return to shareholders in 2025?

In 2025, FinVolution returned about US$181.7 million to shareholders. This comprised approximately US$107.2 million of share repurchases in ADS form and US$74.5 million in cash dividends, resulting in a total payout ratio of around 50.0% of the company’s full-year net income.

What does FinVolution (FINV)’s balance sheet look like as of December 31, 2025?

As of December 31, 2025, FinVolution held cash and cash equivalents of RMB4,285.1 million and short-term investments of RMB3,015.2 million. Total assets were RMB25,413.6 million and total liabilities RMB8,569.6 million, supporting shareholders’ equity of RMB16,844.0 million on its consolidated balance sheet.

Filing Exhibits & Attachments

3 documents

Press Releases

• EX-99.1 EX-99.1 220.8 KB
• EX-99.2 EX-99.2 15.7 KB
• EX-99 GRAPHIC 136.6 KB