The Zhitong Finance App learned that on March 27, 2024, Beijing time, Xiaoying Technology (XYF.US) announced unaudited financial results for the fourth quarter ending December 31, 2023 and the full year of fiscal year 2023. According to financial data, the total amount of loans collated and provided by Xiaoying Technology in the fourth quarter of 2023 was 26.134 billion yuan (RMB, same below), up 20.4% year on year and down 11.3% from month to month; the total amount of loans matched and provided by Xiaoying Technology for the full year of fiscal year 2023 was 105.557 billion yuan, an increase of 43.3% year on year.
Financial data also showed that the company's total net revenue for the fourth quarter reached about 1,193 billion yuan (RMB), up 24.8% year on year and down 14.6% month on month. Total net revenue for fiscal year 2023 reached approximately $4.815 billion, an increase of 35.1% over the previous year. The company's net profit for the fourth quarter was approximately $189 million, down 31.2% year on year; revenue per ADS after dilution in the fourth quarter was 3.84 yuan, compared to 5.16 yuan for the same period last year; under non-GAAP standards, the company's revenue per ADS diluted in the fourth quarter was 4.68 yuan, compared to 5.22 yuan for the same period last year.
In terms of net profit for the full year of FY2023, Xiaoying Technology's annual net profit was about 1,187 billion yuan, an increase of 46.2% over the previous year; the revenue per ADS after dilution in fiscal year 2023 was 24.48 yuan, compared to 15.42 yuan for the same period last year. Under non-GAAP standards, the company's diluted earnings per ADS for fiscal year 2023 were $26.34, compared to $16.26 for the same period last year.
As of December 31, 2023, the company's total outstanding loan balance was $48.847 billion, 49.685 billion yuan as of September 30, 2023, and 37.992 billion yuan as of December 31, 2022.
In terms of performance expectations, the company expects the total amount of loans matched and provided in the first quarter of 2024 to be between RMB 21 billion and RMB 22.5 billion. The company said the forecast reflects the company's current and preliminary views and is likely to change in the future.
Zheng Fuya, the company's chief financial officer, said in the financial report: “We achieved steady financial results in 2023, with total net revenue of about 4.8 billion yuan. Looking ahead, we will not pursue net loan size growth at the expense of profitability; this has always been a strategic priority. We will continue to strengthen our risk management system, improve asset quality, and balance revenue and profit growth.”