Global Market Bulletin
  • Home
  • Stock Market News
  • Investing
  • Economy
  • CEO Interviews
  • Contact Us
No Result
View All Result
SUBSCRIBE
Global Market Bulletin
  • Home
  • Stock Market News
  • Investing
  • Economy
  • CEO Interviews
  • Contact Us
No Result
View All Result
Global Market Bulletin
No Result
View All Result
Home Stock Market News

X Financial (XYF) Posts 13.3% Revenue Growth in Q3 2024 to RMB 1.58 Billion

by Global Market Bulletin
December 31, 2024
in Stock Market News
0
Here’s What Makes Mercurity Fintech (MFH) A Smart Long-Term Investment

Aurora Mobile (JG) Turns Profitable

8
SHARES
18
VIEWS
Share on FacebookShare on Twitter

X Financial (XYF) is a leading online personal finance company based in China, dedicated to revolutionizing the way borrowers and institutional funding partners connect. Utilizing a proprietary big data-driven platform, the company facilitates and originates loans, offering tailored financial solutions to prime borrowers. With a strong focus on innovation and risk management, X Financial has established strategic partnerships with financial institutions, enabling seamless operations across its diverse product offerings. Renowned for its flagship products like Xiaoying Card Loan and Xiaoying Housing Loans, the company delivers exceptional value by blending technology and customer-centric solutions. As a trusted leader in China’s fintech sector, X Financial continues to drive growth and innovation in the rapidly evolving personal finance market.

You might also like

Cerence (CRNC) is Down Big — But Jim Cramer Says “I Think You’ve Got a Winner”

Forget the Hype Stocks — EverCommerce (EVCM) Could Deliver Real 2x Returns

This AI Stock Powers Millions of Conversations Daily—LivePerson (LPSN) Deserves a Spot on Your Watchlist

Strong Financial Performance in Q3 2024

In the third quarter of 2024, X Financial reported a total net revenue of RMB 1.58 billion (US$225.5 million), reflecting a year-over-year growth of 13.3%. The company’s income from operations increased by 17% to RMB 509 million (US$72.5 million), while non-GAAP adjusted net income reached a record high of RMB 434 million (US$61.8 million), up 16% from the previous year. These results were supported by an improvement in asset quality and operational efficiencies, further enhancing the company’s profitability.

X Financial (XYF) Posts 13.3% Revenue Growth in Q3 2024 to RMB 1.58 Billion

CHECK THIS OUT: PrimeEnergy (PNRG)’s Q3 2024: Net Income Hits $22.08M with 134% Oil Production Surge

Resilient Loan Facilitation and Improved Asset Quality

The company facilitated and originated loans totaling RMB 28.3 billion in Q3 2024, a 24.6% sequential increase, demonstrating X Financial’s ability to adapt to market demand effectively. Despite a slight year-over-year decline of 3.8%, the total number of active borrowers increased to 1.97 million, up 8.6% from the same quarter in 2023. The delinquency rates for loans past due for 31-60 days improved significantly to 1.02%, down from 1.29% in the previous quarter, highlighting the company’s robust risk management capabilities.

Strategic Share Repurchase and Dividend Initiatives

X Financial has demonstrated confidence in its long-term growth through strategic capital allocation. In Q3 2024, the company extended its US$30 million share repurchase program, repurchasing shares worth US$1.3 million. Additionally, a new US$20 million repurchase program was initiated, with US$9.2 million already utilized. These actions, combined with the semi-annual dividend policy, underline X Financial’s commitment to delivering value to shareholders.

Diverse Revenue Streams and Product Innovation

The company’s revenue is well-diversified, with growth across all core segments. Loan facilitation service fees increased by 5.9% year-over-year to RMB 878 million (US$125.2 million), while financing income rose by 11.6% to RMB 336 million (US$47.8 million). Guarantee income saw an exceptional 576% growth year-over-year, reaching RMB 54 million (US$7.6 million). The introduction of new features, such as Xiaoying Housing Loans and Xiaoying Card Loan products, has further strengthened X Financial’s market presence and customer acquisition efforts.

Positive Macroeconomic Tailwinds

China’s economic stimulus measures, aimed at stabilizing financial markets and boosting consumption, are expected to benefit X Financial significantly. The personal finance market, integral to the broader economy, stands to gain from these initiatives. X Financial has already observed positive signs in the market and anticipates monthly loan volumes to exceed RMB 10 billion in Q4 2024, setting a new record.

Guidance and Outlook for 2024

X Financial expects to facilitate loans totaling RMB 30 billion to RMB 31 billion in Q4 2024, with the total for the year projected between RMB 102.6 billion and RMB 103.6 billion. This guidance reflects the company’s confidence in maintaining growth momentum amid improving market conditions and continued operational excellence.

Would You Dare Invest in X Financial?

X Financial’s strong financial results, focus on asset quality, strategic capital initiatives, and ability to leverage macroeconomic trends make it a compelling investment opportunity. The company’s innovative approach to online personal finance, supported by a robust risk management system and diverse revenue streams, positions it well for sustained growth and profitability. Investors seeking exposure to China’s expanding fintech sector should consider X Financial as a key player driving digital transformation in personal finance.

READ ALSO: Lifeway Foods (LWAY): Probiotic Pioneer Targets $195M Revenue in 2024 and The Pennant Group (PNTG) Posts $544.9M Revenue in 2023 with Strong Growth Across Healthcare Segments.

Tags: X Financial (XYF)
Share3Tweet2
Global Market Bulletin

Global Market Bulletin

Global Market Bulletin is a leading provider of stock market updates, economic news, and personalized investing guides. Our team brings you the latest global financial information to help you make smart investment decisions. About the Editorial Team Our editorial team consists of financial experts and seasoned market analysts who bring decades of experience to our coverage. With a commitment to unbiased reporting, our team ensures that every article is backed by thorough research and delivers accurate financial insights.

Recommended For You

Cerence (CRNC) is Down Big — But Jim Cramer Says “I Think You’ve Got a Winner”

by Global Market Bulletin
June 15, 2025
0
Cerence (CRNC) is Down Big — But Jim Cramer Says “I Think You’ve Got a Winner”

Cerence Inc. (NASDAQ:CRNC) is a pioneering software company that sits at the cutting edge of artificial intelligence and voice technology in the global automotive sector. Headquartered in Burlington,...

Read moreDetails

Forget the Hype Stocks — EverCommerce (EVCM) Could Deliver Real 2x Returns

by Global Market Bulletin
June 15, 2025
0
Forget the Hype Stocks — EverCommerce (EVCM) Could Deliver Real 2x Returns

EverCommerce Inc. (NASDAQ:EVCM) is a leading software and technology solutions provider dedicated to serving small and medium-sized businesses (SMBs) across the United States and globally. Headquartered in Denver,...

Read moreDetails

This AI Stock Powers Millions of Conversations Daily—LivePerson (LPSN) Deserves a Spot on Your Watchlist

by Global Market Bulletin
June 15, 2025
0
This AI Stock Powers Millions of Conversations Daily—LivePerson (LPSN) Deserves a Spot on Your Watchlist

LivePerson Inc. (NASDAQ:LPSN) is a leading provider of artificial intelligence-powered customer engagement solutions that are reshaping how brands connect with consumers in the digital era. Founded in 1995...

Read moreDetails

This Underrated AI Stock is Beating the Market—Here’s Why ExlService (EXLS) Could Explode Higher

by Global Market Bulletin
June 15, 2025
0
This Underrated AI Stock is Beating the Market—Here’s Why ExlService (EXLS) Could Explode Higher

ExlService Holdings Inc. (NASDAQ:EXLS) is a globally recognized data analytics and digital operations company that has redefined the landscape of enterprise transformation over the past two decades. Headquartered...

Read moreDetails

BlackLine (BL) Could Be the Next Big SaaS Winner in Finance Automation

by Global Market Bulletin
June 15, 2025
0
BlackLine (BL) Could Be the Next Big SaaS Winner in Finance Automation

BlackLine Inc. (NASDAQ:BL) is a global leader in financial automation software, empowering modern enterprises to transform their traditional manual accounting processes into streamlined, real-time, and automated operations. Headquartered...

Read moreDetails

Browse by Category

  • CEO Interviews
  • Economy
  • Investing
  • Stock Market News
  • Uncategorized

QUICK LINKS

  • Stock Market News
  • Investing
  • Economy
  • Contact Us
  • About Global Market Bulletin
  • Editorial Policy – Global Market Bulletin
  • Our Editorial Team

RECENT POSTS

  • Cerence (CRNC) is Down Big — But Jim Cramer Says “I Think You’ve Got a Winner”
  • Forget the Hype Stocks — EverCommerce (EVCM) Could Deliver Real 2x Returns
  • This AI Stock Powers Millions of Conversations Daily—LivePerson (LPSN) Deserves a Spot on Your Watchlist

GET EMAIL MARKET UPDATES

Subscribe to our mailing list to receives daily updates direct to your inbox!
  • Privacy Policy
  • Terms and Conditions

© 2022 Global Market Bulletin. All Rights Reserved.

No Result
View All Result
  • Home
  • Stock Market News
  • Investing
  • Economy

© 2022 Global Market Bulletin. All Rights Reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?