The X Financial (NYSE: XYF) SEC filings page aggregates the company’s regulatory disclosures as a foreign private issuer. X Financial files an annual report on Form 20-F with the U.S. Securities and Exchange Commission, which includes audited consolidated financial statements and detailed discussion of its operations as a leading online personal finance company and Chinese fintech platform. The company has stated that shareholders may request hard copies of this annual report.
Between annual reports, X Financial submits Form 6-K current reports. These filings frequently furnish unaudited quarterly financial results, such as second and third quarter earnings, along with operational metrics including total loan amount facilitated and originated, total outstanding loan balance, number of active borrowers, and delinquency rates for loans in various past-due buckets. Certain 6-K filings also cover corporate events, such as the scheduling of the annual general meeting of shareholders or the appointment of senior management.
Within its financial disclosures, X Financial provides breakdowns of net revenues into categories such as loan facilitation service, post-origination service, financing income, guarantee income, and other revenue. The company also discusses non-GAAP financial measures, including adjusted net income and adjusted net income per ADS, and reconciles these to the most directly comparable GAAP measures. Its balance sheet and income statement presentations include items like loans receivable, deposits to institutional cooperators, contingent guarantee liabilities, deferred guarantee income, and provisions related to credit risk.
On Stock Titan, these SEC filings are updated as new 20-F and 6-K documents are released through EDGAR. AI-powered tools can help readers quickly interpret key elements of X Financial’s filings, such as revenue composition, loan facilitation trends, delinquency metrics, and the impact of guarantee and risk-related provisions, without having to manually parse every line of the original documents.
X Financial director Wan Zheng has filed an initial ownership report showing holdings tied to the company’s Class A ordinary shares. The filing lists 90,000 Class A ordinary shares, including shares represented by ADS, associated with restricted stock units (RSUs) as of 2026-03-18.
The RSUs reference 90,000 underlying Class A ordinary shares with a stated exercise price of $0.0000 per share and an expiration date of June 1, 2034. This Form 3 does not show any recent purchases or sales; it establishes Wan Zheng’s starting equity position as a director.
X Financial director Xue Zheng filed an initial Form 3 showing existing equity holdings in the company. The filing reports direct ownership of 409,998 Class A ordinary shares, including shares represented by ADS. It also lists two restricted stock unit awards, each tied to 90,000 underlying Class A shares at a zero exercise price with expiration in 2034.
X Financial reported the initial holdings of Chief Risk Officer jiang yufan on a Form 3. The filing shows direct ownership of 1,112,484 Class A ordinary shares, including shares represented by ADS. It also lists two RSU awards that can convert to 50,004 and 49,998 Class A ordinary shares at an exercise price of $0.0000 per share, both expiring in 2034. These entries reflect existing positions rather than new purchases or sales.
X Financial filed an initial ownership report for Chief Financial Officer Zheng Fuya (Frank). He directly holds 549,990 Class A ordinary shares, including shares represented by ADS. He also holds RSUs covering 25,014 underlying shares exercisable on January 10, 2028 and 24,996 underlying shares exercisable on January 10, 2027, all with a zero exercise price.
X Financial amendment to a Schedule 13G/A reports that the filing is being made on behalf of Nexus Special Situations Fund SPC and Fung Yu Wai David and that neither Reporting Person beneficially owns any Class A Ordinary Shares. The statement lists 0 shares and 0% ownership and includes CUSIP 98372W202.
X Financial, a Cayman Islands holding company operating mainly in mainland China through VIE structures, reports consolidated 2025 net revenue of RMB 7,639,425 thousand and net income of RMB 1,464,553 thousand. Total assets were RMB 14,665,745 thousand and total shareholder’s equity RMB 7,836,801 thousand as of December 31, 2025.
The company facilitated RMB 130,552 million in loans in 2025 and increasingly relies on institutional funding partners and a small direct microcredit book via Quanbei Microcredit. Delinquency for loans 31–60 days past due rose from 1.17% to 2.90% between year-end 2024 and 2025, highlighting credit risk in a tightening regulatory and macro environment.
X Financial returned capital through cash dividends to U.S. investors of US$8.3 million, US$16.5 million, and US$22.1 million in 2023, 2024, and 2025, and significant share repurchases totaling approximately US$59.5 million in 2024 and US$67.9 million in 2025. The filing emphasizes substantial legal and operational risks tied to its VIE structure, evolving Chinese data and fintech rules, Whitelist and pricing caps for partner banks, and potential trading prohibitions under the HFCA Act if PCAOB access were curtailed.
X Financial’s major shareholder Yue (Justin) Tang and related entities report updated ownership and recent share acquisitions. Tang is deemed to beneficially own 114,934,942 ordinary shares, representing 49.01% of the company’s ordinary share capital on an as-converted basis. This includes holdings through Mangrove Coast Investment Limited, the Mangrove Coast Trust and Purple Mountain Holding Ltd., combining Class A and high-vote Class B ordinary shares. The filing notes that Class B shares convert one-for-one into Class A, but Class A cannot convert into Class B, with Class B carrying twenty votes per share. Tang also acquired 194,213 ADSs in open-market purchases using personal funds in December 2025 and received 258,333 ADSs through RSU vesting in November 2025 and January 2026, indicating incremental increases in his economic stake.
X Financial reported sharply weaker fourth-quarter 2025 results as credit quality deteriorated and regulation tightened, though full-year earnings remained solid. Q4 income from operations fell to RMB20.2 million from RMB525.2 million a year earlier, and net income dropped 85.2% to RMB57.2 million as loan facilitation revenue declined and credit-related provisions surged. Total net revenue fell 14.1% year-over-year, while operating margin compressed to 1.4% and net profit margin to 3.9%. Asset quality worsened, with 31–60 day delinquency rising to 2.90% and 91–180 day delinquency to 6.31%. For 2025, net income was RMB1,464.6 million and non-GAAP adjusted net income was RMB1,559.5 million, both roughly flat versus 2024. Despite the tougher environment, the company maintained strong liquidity, with approximately RMB2.13 billion in cash and restricted cash and shareholders’ equity of RMB7,836.8 million. The board approved a semi-annual dividend of US$0.28 per ADS and continued a US$100 million repurchase program, of which about US$53.85 million has been used. Management highlighted significant regulatory uncertainty, including borrowing cost caps and whitelist rules, and warned that future profitability could be materially weaker than in prior years, with the possibility of losses.
X Financial director ZHANG LONGGEN reported his initial ownership in the company. As of the reporting date, he holds 409,998 Class A ordinary shares, including shares represented by ADS. He also holds two restricted stock unit awards covering 90,000 underlying Class A shares each, with exercise prices of 0.0000 per share and exercise dates in 2026 and 2027, both expiring in 2034. These entries reflect holdings rather than new market transactions.
X Financial director Cheng Shaoyong filed an initial statement of beneficial ownership showing holdings of restricted stock units. The filing reports 60,000 RSUs that can convert into Class A ordinary shares, including shares represented by ADS. These RSUs have a zero exercise price, become exercisable on December 1, 2026, and expire on December 1, 2033. All 60,000 underlying shares are held as a direct position and represent equity-based compensation rather than an open-market trade.