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Overview of FinVolution Group's 2024 Performance

FinVolution Group, a prominent fintech enterprise active in China, Indonesia, and the Philippines, has released its unaudited financial results for the fourth quarter and the entire fiscal year 2024. Operating under the NYSE ticker symbol FINV, the company showcased robust performance, underscoring its successful growth strategies and expansion into international markets.

2024 Financial Highlights

In 2024, FinVolution reported a total transaction volume of RMB 206.2 billion, reflecting a year-over-year increase of 6.1%. Furthermore, the international transaction volume saw a remarkable surge, surpassing RMB 10.1 billion, up 27.8% from the previous year. The company also reported international revenues totaling RMB 2.5 billion, marking an 18.5% increase and accounting for nearly 20% of its total net revenues.

One of the most notable aspects of this financial report is the steady rise in the number of registered users and borrowers. As of December 31, 2024, FinVolution boasted 172.6 million registered users in China and approximately 35.7 million internationally. This growth in user base translates into a general increase in the cumulative number of borrowers, totaling approximately 26.8 million, adding 3.9 million new borrowers across all markets.

Fourth Quarter Analysis

The fourth quarter of 2024 saw FinVolution achieving a net revenue of RMB 3.46 billion (approximately USD 473.6 million), which is a notable increase from RMB 3.22 billion reported for the same quarter in 2023. The net profit during this quarter was RMB 680.8 million (USD 93.3 million), up from RMB 528.8 million in the year prior, indicating a firm operational grip amidst fluctuating market conditions. Additionally, the company's adjusted operating income for the same period was RMB 822.0 million, affirming its continued efficiency and profitability.

The rise in transaction volume in China's mainland market stood at RMB 54.0 billion for the fourth quarter, reflecting a year-over-year increase of 7.8%. Outstanding loan balances were noted at RMB 69.8 billion, with an average loan size rising to RMB 11,466.

Strategic Growth and Diversification

Mr. Tiezheng Li, Vice Chairman and CEO, credited the strategic approach of their 'Local Excellence, Global Outlook' initiative for navigating challenges in 2024 and successfully promoting growth in both domestic and international sectors. FinVolution's international market saw significant advancements with a 45.1% increase in registered users and a 30.8% increase in outstanding loan balances.

Looking Ahead

With the start of 2025, the company remains optimistic about its performance. The board has also set a revenue guidance of RMB 14.4 billion to RMB 15.0 billion for the upcoming year, indicating an anticipated growth rate of 10% to 15%. This outlook will continue to depend on the external market conditions and the company's ongoing ability to adapt and innovate in the fast-paced fintech space.

Conclusion

In summary, FinVolution Group's latest financial results are a testament to its resilient business model and commitment to maintaining steady growth across its key markets. As FinVolution enters 2025, its strategies appear poised to deliver continued success in the evolving fintech landscape.