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NEWS WRAP: FinVolution posts modest revenue gains as international growth slows

Fri, 17 May 2024 06:41:26 +0000

The online loan facilitator said its international loan transaction volume grew 41% in the first quarter, slowing from 85% in the previous quarter By Doug Young Online loan facilitator FinVolution Group (FINV.US) on Wednesday reported that growth of its international business slowed in the first quarter, reflecting difficulties it will face in boosting that.....

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Strong NEV sales keep Yixin on pace with China’s sluggish auto market

Wed, 15 May 2024 06:25:45 +0000

The online car loan facilitator’s business is growing at a similar pace to China’s auto market, which has decelerated after years of strong growth Key Takeaways: By Warren Yang It may not be zooming anymore, but online car loan facilitator Yixin Group Ltd. (2858.HK) seems to still be cruising along – albeit at reduced.....

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PODCAST: Relaxing Data Requirements, and a Big Dividend

Tue, 02 Apr 2024 09:28:46 +0000

China exempts most foreign firms from worrisome data requirements. But will it change its mind later? And a leading fintech lender offers a massive dividend. But shareholders worry more about its rapidly shrinking size.

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Forget about growth. Qifu shows it’s all about giving back to shareholders

Wed, 20 Mar 2024 04:12:58 +0000

In reporting its earnings for the fourth quarter of 2023, the online loan facilitator unveiled a plan to sharply ramp up its share buyback program Key Takeaways: By Warren Yang Qifu Technology Inc. (QFIN.US; 3660.HK) is checking all the right boxes to entice investors. For starters, the online loan facilitator delivered solid profit growth.....

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FAST NEWS: Supply chain financer Linklogis’ loss widens

Tue, 12 Mar 2024 06:10:42 +0000

The latest: Supply chain financing solutions provider Linklogis Inc. (9959.HK) said on Monday it expects to report a net loss of 455 million yuan ($63.4 million) to 465 million yuan for last year, far bigger than its 13 million yuan loss in 2022. Looking up: The large loss owed partly to higher impairment losses on financial assets,.....

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FAST NEWS: Tongcheng Travel eyes major fintech acquisition

Thu, 08 Feb 2024 07:37:14 +0000

The latest: Tongcheng Travel Holdings Ltd. (0780.HK) announced Wednesday it has signed a letter of intent to acquire 55.14% of Guangzhou Lvjin Technology, a provider of digital financial services, for up to 1.15 billion yuan ($162 million). Looking up: Tongcheng believes the acquisition will help its business development by providing financial technology to enhance its users’.....

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Yixin steers away from young joint venture to stay focused on China auto market

Wed, 10 Jan 2024 03:29:56 +0000

The online car loan facilitator is pulling out of a 2-year-old tie-up as its state-owned partner seeks to take the venture into new unrelated areas Key Takeaways: By Warren Yang Reckless expansions into areas outside your core business may sometimes yield quick profits, but many times also end in disappointment. Online auto loan facilitator.....

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Lufax takes on more risk, makes Hong Kong acquisition, as its lending shrivels

Tue, 14 Nov 2023 04:07:34 +0000

The online loan facilitator’s revenue plunged 39% in the third quarter, as its loan delinquency rates rose sharply from a year earlier Key Takeaways: By Doug Young Lufax Holding Ltd. (LU.US; 6623.HK) maintained its status as one of several fast-shrinking companies in China’s turbulent online lending realm, posting continued big contraction for all of.....

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Online lenders cool as China’s economic rebound wobbles

Wed, 13 Sep 2023 03:49:10 +0000

Lufax, Qifu and FinVolution face difficulties growing while also managing risk in a slowing economy, their latest quarterly results show Key Takeaways: By Warren Yang Winter is fast approaching for China’s top online lenders as momentum for the country’s long-awaited economic recovery fizzles. That early freeze sent a chill through the latest quarterly results.....

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FAST NEWS: Linklogis falls into the red as customers struggle

Mon, 21 Aug 2023 04:22:30 +0000

The latest: Supply chain financing solutions provider Linklogis Inc. (9959.HK) announced last Friday it expects to record a net loss between 165 million yuan ($22.7 million) and 175 million yuan in the first half of this year, reversing a 43 million yuan profit in the same period of 2022. Looking up: Despite suffering by some of its.....

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FinVolution’s low-key overseas expansion pays dividends

Wed, 24 May 2023 03:32:33 +0000

The fintech lender’s overseas revenue surged in the first quarter, outshining mediocre results for its core China-based business Key Takeaways: By Warren Yang When FinVolution Group (FINV.US) started looking to expand overseas nearly five years ago, it meant business. That strategic shift is paying off quite nicely now as life at home isn’t getting.....

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360 DigiTech’s mediocre dividends, unexciting growth leave investors uninspired

Thu, 16 Mar 2023 03:51:19 +0000

The online loan facilitator is struggling to maintain steady dividends as its net profit declines on faltering revenue growth Key Takeaways: By Warren Yang One way a company can attract investors is to pay nice dividends. Another is to offer a compelling growth story. The conundrum for 360 DigiTech Inc. (QFIN.US; 3660.HK) is that.....

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