clients 1,256,762 1,410,158 1,470,738 1,470,738 1,256,762 1,470,738 1,470,738
Number of
insurance
clients 123,693 88,766 82,291 82,291 293,254 226,191 226,191
Gross written
premiums 1,428,484 1,060,885 1,351,311 192,560 3,684,325 3,324,627 473,756
First year
premium 914,839 577,387 511,377 72,871 2,644,082 1,602,905 228,412
Renewal premium 513,645 483,498 839,934 119,689 1,040,243 1,721,722 245,344
Gross
merchandise
volume 563,224 554,574 507,585 72,330 1,267,611 1,687,280 240,435
Segment
Information
Financial
services
business:
Revenue 667,966 851,031 836,193 119,157 1,733,813 2,425,341 345,608
Sales and
marketing
expenses 146,369 253,103 307,459 43,812 311,751 812,484 115,778
Origination,
servicing and
other
operating
costs 59,300 113,234 119,706 17,058 145,870 318,727 45,418
Allowance for
contract
assets,
receivables
and others 77,135 124,765 93,248 13,288 163,111 319,140 45,477
Provision for
contingent
liabilities 11,104 278,925 272,406 38,818 28,578 618,589 88,148
Insurance
brokerage
business:
Revenue 264,611 91,526 85,530 12,188 865,664 301,982 43,032
Sales and
marketing
expenses 3,175 4,263 3,545 505 9,309 11,373 1,621
Origination,
servicing and
other
operating
costs 176,182 122,358 78,466 11,181 599,650 337,707 48,123
Allowance for
contract
assets,
receivables
and others (3,981) (1,502) (414) (59) (355) (904) (129)
Consumption &
lifestyle
business and
others:
Revenue 378,197 553,979 557,365 79,423 1,021,846 1,626,385 231,758
Sales and
marketing
expenses 46,170 27,735 24,643 3,512 129,813 74,114 10,561
Origination,
servicing and
other
operating
costs 9,878 10,950 7,741 1,103 45,952 29,291 4,174
Allowance for
contract
assets,
receivables
and others (313) (11) 1,666 237 (1,545) 1,664 237
Reconciliation
of Adjusted
EBITDA
Net income 554,415 409,528 355,442 50,650 1,508,929 1,250,853 178,245
Interest
income, net (25,815) (24,668) (21,877) (3,117) (50,869) (74,258) (10,582)
Income tax
expense 161,917 92,036 44,665 6,365 424,345 268,480 38,258
Depreciation
and
amortization 1,664 2,026 2,401 342 5,310 6,319 901
Share-based
compensation 513 2,136 13,235 1,886 5,923 16,578 2,362
---------- ---------- ---------- --------- ---------- ---------- -------------
Adjusted EBITDA 692,694 481,058 393,866 56,126 1,893,638 1,467,972 209,184
========== ========== ========== ========= ========== ========== =============
Adjusted EBITDA
margin 52.8 % 32.1 % 26.6 % 26.6 % 52.3 % 33.7 % 33.7 %
Delinquency Rates
1-30 days 31-60 days 61-90 days
--------- ---------- ----------
December 31, 2019 2.1 % 1.2 % 0.9 %
December 31, 2020 1.3 % 0.7 % 0.6 %
December 31, 2021 2.0 % 1.5 % 1.2 %
December 31, 2022 1.7 % 1.2 % 1.1 %
December 31, 2023 2.0 % 1.4 % 1.2 %
March 31, 2024 2.1 % 1.6 % 1.4 %
June 30, 2024 1.9 % 1.4 % 1.5 %
September 30, 2024 1.8 % 1.2 % 1.2 %
30+ Days Delinquency Rates by Vintage([1])
Loan
Issued
Period Month on Book
2 4 6 8 10 12 14 16 18 20 22 24
2019Q1 0.0 % 0.5 % 1.6 % 2.3 % 3.3 % 4.4 % 5.9 % 6.1 % 6.4 % 6.9 % 6.9 % 6.9 %
2019Q2 0.3 % 1.4 % 2.8 % 5.0 % 7.8 % 8.9 % 9.5 % 10.0 % 10.3 % 10.7 % 10.9 % 11.2 %
2019Q3 0.3 % 2.0 % 5.1 % 7.6 % 9.1 % 10.4 % 11.3 % 12.4 % 13.3 % 14.1 % 14.7 % 15.2 %
2019Q4 0.7 % 3.0 % 4.4 % 5.7 % 6.6 % 7.3 % 8.1 % 8.5 % 9.0 % 9.4 % 9.7 % 10.3 %
2020Q1 0.8 % 2.0 % 3.4 % 4.5 % 5.4 % 5.9 % 6.5 % 6.8 % 7.1 % 7.5 % 8.1 % 8.5 %
2020Q2 0.6 % 2.0 % 3.3 % 4.5 % 5.3 % 6.0 % 6.4 % 6.9 % 7.4 % 8.0 % 8.6 % 8.8 %
2020Q3 1.3 % 2.8 % 4.3 % 5.4 % 6.3 % 6.9 % 7.5 % 8.2 % 8.9 % 9.3 % 9.5 % 9.5 %
2020Q4 0.3 % 1.4 % 2.4 % 3.4 % 4.3 % 5.4 % 6.4 % 7.3 % 7.7 % 8.0 % 8.2 % 8.3 %
2021Q1 0.5 % 1.8 % 3.0 % 4.2 % 5.3 % 6.3 % 7.1 % 7.3 % 7.5 % 7.7 % 7.8 % 7.9 %
2021Q2 0.5 % 2.1 % 3.8 % 5.5 % 6.8 % 7.5 % 7.7 % 7.9 % 8.1 % 8.3 % 8.2 % 8.2 %
2021Q3 0.6 % 2.5 % 4.2 % 5.4 % 6.1 % 6.5 % 6.7 % 6.9 % 6.9 % 6.9 % 6.9 % 6.8 %
2021Q4 0.8 % 2.7 % 4.1 % 4.9 % 5.4 % 5.8 % 5.8 % 5.8 % 5.7 % 5.6 % 5.6 % 5.5 %
2022Q1 0.7 % 2.1 % 3.2 % 4.0 % 4.6 % 4.8 % 4.7 % 4.6 % 4.6 % 4.5 % 4.5 % 4.4 %
2022Q2 0.5 % 1.8 % 2.9 % 3.8 % 4.3 % 4.5 % 4.4 % 4.3 % 4.3 % 4.2 % 4.2 % 4.1 %
2022Q3 0.6 % 2.2 % 3.5 % 4.3 % 4.8 % 5.0 % 5.0 % 4.9 % 4.9 % 4.8 % 4.7 % 4.7 %
2022Q4 0.7 % 2.5 % 3.9 % 4.9 % 5.6 % 5.9 % 5.8 % 5.8 % 5.7 % 5.6 % 5.5 %
2023Q1 0.6 % 2.4 % 4.0 % 5.2 % 5.9 % 6.2 % 6.1 % 6.0 % 5.9 % 5.5 %
2023Q2 0.7 % 3.0 % 4.9 % 6.3 % 7.0 % 7.3 % 7.2 % 6.9 %
2023Q3 0.9 % 3.7 % 5.8 % 7.1 % 7.9 % 8.1 % 7.8 %
2023Q4 0.8 % 3.6 % 5.8 % 7.0 % 7.6 %
2024Q1 0.7 % 3.2 % 5.0 % 6.4 %
2024Q2 0.6 % 2.7 %
2024Q3 0.6 %
([1]) The 30+ days delinquency rate by vintage refers to the outstanding principal balance of loans
facilitated over a specified period that are more than 30 days past due, as a percentage of the
total loans facilitated during that same period. Loans originating outside mainland China are
excluded from the calculation.
View original content:https://www.prnewswire.com/news-releases/yiren-digital-reports-third-quarter-2024-financial-results-302311261.html
SOURCE Yiren Digital
/CONTACT: For investor and media inquiries, please contact: Yiren Digital Investor Relations, Email: ir@yiren.com
(END) Dow Jones Newswires
November 20, 2024 05:20 ET (10:20 GMT)
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