FinVolution Group
(NYSE:FINV)

FinVolution Group, an investment holding company, operates in the online consumer finance industry in the People's Republic of China. It operates a fintech platform that connects underserved individual borrowers with financial institutions. The company's platform provides standard and other loan pro...

Website: http://ir.ppdai.com

Founded: 2007

Full Time Employees: 3,883

CEO: Jun Zhang / Feng Zhang

Sector: Financial Services

Industry: Credit Services

Chinese Financial Services

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Quarterly

Annual

Unit: USD	2025-11-20	2025-08-21	2025-06-20	2025-05-21	2025-03-18	2024-12-31	2024-11-19	2024-08-21	2024-05-16	2024-03-19	2023-12-31	2023-11-21	2023-08-29	2023-05-18	2023-03-15	2022-12-31	2022-11-15	2022-08-23	2022-06-01	2022-03-16	2021-12-31	2021-11-18	2021-08-23	2021-05-25	2021-03-12	2020-12-31	2020-11-17	2020-08-26	2020-05-28	2020-03-20	2019-12-31	2019-11-19	2019-08-20	2019-05-15	2019-03-14	2018-12-31	2018-11-20	2018-08-22	2018-05-16	2018-03-21	2017-12-31	2017-12-13

operating revenue:
loan facilitation service fees	1,334,367,000	1,515,349,000	1,477,798,000	1,477,798,000	1,344,799,000	1,344,799,000	1,253,113,000	1,110,528,000	985,940,000	1,107,434,000	1,107,434,000	1,129,776,000	1,115,041,000	1,168,253,000	1,208,636,000	1,208,636,000	1,168,650,000	1,052,129,000	1,001,363,000	1,005,082,000	1,005,082,000	1,075,070,000	952,405,000	761,625,000	643,286,000	643,286,000	486,291,000	404,742,000	374,532,000	538,896,000	538,896,000	893,614,000	939,754,000	938,611,000	837,427,000	837,427,000	707,738,000	753,260,000	620,809,000	620,237,000	620,237,000	906,914,000
post-facilitation service fees	430,812,000	425,595,000	380,614,000	380,614,000	460,465,000	460,465,000	425,348,000	389,236,000	465,192,000	495,431,000	495,431,000	498,916,000	488,187,000	487,171,000	496,434,000	496,434,000	492,253,000	482,790,000	458,436,000	422,329,000	422,329,000	361,192,000	299,613,000	226,431,000	175,745,000	175,745,000	161,376,000	153,155,000	182,705,000	275,831,000	275,831,000	300,671,000	315,793,000	308,078,000	249,887,000	249,887,000	239,880,000	205,866,000	227,164,000	227,150,000	227,150,000	200,093,000
guarantee income	1,030,344,000	1,046,615,000	1,099,514,000	1,099,514,000	1,205,502,000	1,205,502,000	1,234,752,000	1,298,927,000	1,346,115,000	1,267,515,000	1,267,515,000	1,152,047,000	1,072,913,000	986,520,000	920,570,000	920,570,000	822,242,000	709,506,000	612,122,000	624,105,000	624,105,000	644,520,000	665,706,000	659,181,000
net interest income	350,825,000	272,098,000	241,614,000	241,614,000	217,927,000	217,927,000	185,742,000	218,803,000	231,307,000	227,426,000	227,426,000	273,274,000	263,047,000	285,632,000	292,512,000	292,512,000	329,636,000	282,934,000	269,122,000	294,656,000	294,656,000	332,597,000	308,499,000	280,418,000	204,291,000	204,291,000	260,931,000	333,157,000	314,958,000
other revenue	340,259,000	318,294,000	281,501,000	281,501,000	227,999,000	227,999,000	177,096,000	150,506,000	136,527,000	125,791,000	125,791,000	143,514,000	136,490,000	123,067,000	131,824,000	131,824,000	158,664,000	138,629,000	105,751,000	101,851,000	101,851,000	111,733,000	157,877,000	185,238,000	162,236,000	162,236,000	137,592,000	98,223,000	83,835,000	101,298,000	101,298,000	53,229,000	111,972,000	78,341,000	107,802,000	107,802,000	112,092,000	88,214,000	68,807,000	172,393,000	172,393,000	143,312,000
net revenue	3,486,607,000	3,577,951,000		3,481,041,000	3,456,692,000	2,402,283,000	3,276,051,000	3,168,000,000	3,165,081,000	3,223,597,000	2,330,962,000	3,197,527,000	3,075,678,000	3,050,643,000	3,049,976,000	2,021,056,750	2,971,445,000	2,665,988,000	2,446,794,000	2,448,023,000	1,755,526,250	2,525,112,000	2,384,100,000	2,112,893,000	1,852,992,000	1,427,523,750	1,793,333,000	1,810,452,000	2,106,310,000
operating expenses:
origination, servicing expenses and other cost of revenue	-757,822,000	-674,544,000	-620,465,000	-620,465,000	-663,982,000	-663,982,000	-603,071,000	-575,231,000	-539,555,000	-563,142,000	-563,142,000	-519,985,000	-515,960,000	-512,428,000	-516,223,000	-516,186,000	-495,022,000	-529,675,000	-497,704,000	-514,329,000
sales and marketing expenses	-551,948,000	-606,444,000	-529,703,000	-529,703,000	-531,530,000	-531,530,000	-560,220,000	-473,295,000	-449,209,000	-491,381,000	-491,381,000	-530,110,000	-468,833,000	-397,118,000	-490,735,000	-490,735,000	-535,158,000	-327,149,000	-331,980,000	-389,355,000	-389,355,000	-387,468,000	-473,194,000	-334,216,000	-209,605,000	-209,605,000	-115,305,000	-66,743,000	-91,206,000	-131,748,000	-131,748,000	-229,190,000	-215,213,000	-144,182,000	-180,901,000	-180,901,000	-184,481,000	-194,309,000	-151,063,000	-238,600,000	-238,600,000	-225,334,000
research and development expenses	-139,029,000	-128,974,000	-126,041,000	-126,041,000	-126,257,000	-126,257,000	-130,736,000	-119,252,000	-120,495,000	-127,605,000	-127,605,000	-132,588,000	-124,577,000	-126,216,000	-137,519,000	-137,519,000	-125,595,000	-115,967,000	-112,403,000	-131,914,000	-131,914,000	-104,505,000	-104,647,000	-93,784,000	-106,234,000	-106,234,000	-92,988,000	-83,394,000	-87,559,000	-93,081,000	-93,081,000	-108,221,000	-101,562,000	-87,721,000
general and administrative expenses	-100,604,000	-110,196,000	-106,894,000	-106,894,000	-112,570,000	-112,570,000	-116,759,000	-101,892,000	-82,327,000	-115,209,000	-115,209,000	-98,641,000	-90,770,000	-85,402,000	-114,358,000	-114,358,000	-100,426,000	-95,808,000	-91,139,000	-156,272,000	-156,272,000	-123,219,000	-126,129,000	-112,625,000	-157,344,000	-157,344,000	-105,392,000	-102,025,000	-96,355,000	-101,186,000	-101,186,000	-124,806,000	-102,610,000	-107,214,000	-211,667,000	-211,667,000	-182,652,000	-161,495,000	-145,539,000	-250,369,000	-250,369,000	-144,725,000
provision for accounts receivable and contract assets	-95,498,000	-106,345,000	-117,718,000	-117,718,000	-95,132,000	-95,132,000	-99,018,000	-57,237,000	-65,662,000	-36,413,000	-36,413,000	-86,884,000	-67,451,000	-63,200,000	-112,495,000	-112,495,000	-110,899,000	-94,438,000	-73,050,000
provision for loans receivable	-192,250,000	-98,379,000	-85,414,000	-85,414,000	-64,346,000	-64,346,000	-82,394,000	-91,988,000	-81,285,000	-107,562,000	-107,562,000	-176,776,000	-159,189,000	-143,316,000	-125,969,000	-125,969,000	-131,336,000	-59,129,000	-99,468,000	-131,000,000	-131,000,000	-142,526,000	-81,894,000	-18,823,000	42,523,000	42,523,000	-89,986,000	-119,776,000	-295,936,000
credit losses for quality assurance commitment	-917,256,000	-987,139,000	-1,011,615,000	-1,011,615,000	-1,074,955,000	-1,074,955,000	-1,123,628,000	-1,190,572,000	-1,198,099,000	-1,269,514,000	-1,269,514,000	-1,099,154,000	-1,073,451,000	-980,683,000	-935,903,000	-935,903,000	-813,172,000	-787,136,000	-659,009,000	-582,522,000	-582,522,000	-545,095,000		-444,876,000
impairment of goodwill, intangible assets and other long-lived assets	-265,000	-50,411,000
total operating expenses	-2,754,672,000	-2,762,432,000	-2,597,850,000	-2,597,850,000	-2,668,772,000	-2,668,772,000	-2,715,826,000	-2,609,467,000	-2,536,632,000	-2,710,826,000	-2,710,826,000	-2,644,138,000	-2,500,231,000	-2,308,363,000	-2,433,202,000	-2,433,202,000	-2,311,608,000	-2,009,302,000	-1,864,753,000	-1,924,512,000	-1,924,512,000	-1,795,260,000	-1,679,424,000	-1,457,166,000	-1,257,430,000	-1,257,430,000	-1,104,303,000	-1,243,283,000	-1,650,538,000	-797,727,000	-994,663,000	-863,480,000	-794,697,000	-663,490,000	-723,184,000	-776,815,000	-593,360,000	-590,454,000	-543,701,000	-785,246,000	-785,246,000	-667,877,000
operating profit	731,935,000	815,519,000		883,191,000	787,920,000	436,801,750	560,225,000	558,533,000	628,449,000	512,771,000	467,779,000	553,389,000	575,447,000	742,280,000	616,774,000	474,641,000	659,837,000	656,686,000	582,041,000	523,511,000	522,563,750	729,852,000	704,676,000	655,727,000	595,562,000	427,992,750	689,030,000	567,169,000
yoy	-7.11%	86.70%		58.13%	25.38%	-14.82%	19.76%	0.93%	9.21%	-30.92%	-24.16%	16.59%	-12.79%	13.03%	5.97%	-9.34%	26.27%	-10.02%	-17.40%	-20.16%	-12.26%	70.53%	2.27%	15.61%
qoq	-10.25%			12.09%	80.38%	-22.03%	0.30%	-11.13%	22.56%	9.62%	-15.47%	-3.83%	-22.48%	20.35%	29.95%	-28.07%	0.48%	12.82%	11.18%	0.18%	-28.40%	3.57%	7.46%	10.10%	39.15%	-37.88%	21.49%
other income	44,524,000	114,464,000	8,381,000	8,381,000	25,945,000	25,945,000	185,517,000	67,657,000	31,004,000	67,633,000	67,633,000	124,387,000	119,901,000	82,777,000	64,524,000	64,524,000	58,403,000	46,917,000	50,849,000	39,063,000	39,063,000	14,777,000	25,831,000	42,697,000	2,076,000	2,076,000	26,314,000	34,321,000	53,758,000	30,291,000	30,291,000	52,147,000	27,704,000	26,349,000	42,185,000	42,185,000	9,395,000	50,748,000	46,028,000	10,338,000	10,338,000	14,615,000
profit before income tax expense	776,459,000	929,983,000		891,572,000	813,865,000	507,846,250	745,742,000	626,190,000	659,453,000	580,404,000	549,545,250	677,776,000	695,348,000	825,057,000	681,298,000	513,683,250	718,240,000	703,603,000	632,890,000	562,574,000	543,390,000	744,629,000	730,507,000	698,424,000	597,638,000	456,591,000	715,344,000	601,490,000	509,530,000		596,727,500	729,178,000	813,314,000			509,920,750	741,691,000	765,843,000	532,149,000	-581,205,000	-581,205,000	699,918,000
income tax expenses	-135,738,000	-178,670,000	-153,931,000	-153,931,000	-133,110,000	-133,110,000	-121,666,000	-75,152,000	-127,477,000	-51,572,000	-51,572,000	-103,061,000	-105,230,000	-135,237,000	-124,987,000	-124,987,000	-112,741,000	-118,416,000	-98,631,000		87,108,000	-112,181,000	-110,074,000	-105,671,000	-100,376,000	-100,376,000	-118,398,000	-147,479,000	-89,168,000		-57,092,000	-130,718,000	-152,852,000	-141,300,000		193,617,000	-92,189,000	-158,049,000	-94,585,000
net profit	640,721,000	751,313,000	737,641,000	737,641,000	680,755,000	680,755,000	624,076,000	551,038,000	531,976,000	528,832,000	528,832,000	574,715,000	590,118,000	689,820,000	556,311,000	556,311,000	605,499,000	585,187,000	534,259,000	649,682,000	649,682,000	632,448,000	620,433,000	592,753,000	497,262,000	497,262,000	596,946,000	454,011,000	420,362,000	412,478,000	412,478,000	598,460,000	660,462,000	703,118,000	774,591,000	774,591,000	649,502,000	607,794,000	437,564,000	-507,066,000	-507,066,000	541,373,000
less: net profit attributable to non-controlling interest shareholders	16,432,000	4,316,000		-8,765,000	50,000																														417,000
net profit attributable to finvolution group	624,289,000	746,997,000		746,406,000	680,705,000	425,610,250	623,595,000	551,145,000	527,701,000	524,559,000	454,069,000	565,958,000	554,434,000	695,884,000	551,475,000	428,726,750	599,034,000	581,210,000	534,663,000	655,854,000	463,273,250	636,340,000	626,383,000	590,370,000	493,939,000	369,690,250	602,665,000	456,707,000	419,389,000	411,276,000	411,276,000	597,883,000
foreign currency translation adjustment, net of nil tax	-45,660,000	705,000	-16,273,000	-16,273,000	249,597,000	28,205,000	21,206,000	-47,923,000	11,132,000	8,855,000	64,393,000	-88,159,000	80,703,000	-29,168,000	-19,644,000	22,162,500	40,350,000	50,846,000	-2,546,000	-14,015,000	-14,015,000	4,264,000	-16,472,000	14,596,000	-40,642,000	-40,642,000	-37,082,000	-1,580,000	3,842,000	-8,956,000	-8,956,000	21,335,000	13,812,000	-14,081,000	-3,787,000	-3,787,000	36,625,000	51,751,000	-41,296,000	-10,097,000	-10,097,000	60,890,000
total comprehensive income attributable to finvolution group	578,629,000	747,702,000		730,133,000	930,302,000	421,714,000	644,801,000	503,222,000	538,833,000	533,414,000	444,913,000	477,799,000	635,137,000	666,716,000	531,831,000	450,889,250	639,384,000	632,056,000	532,117,000	641,839,000	463,870,250	640,604,000	609,911,000	604,966,000	453,297,000	360,985,250	565,583,000	455,127,000	423,231,000	402,320,000	402,320,000	619,218,000
weighted-average number of ordinary shares used in computing net income per share
basic	1,253,500,919	1,280,035,833	1,265,759,932	1,265,759,932	1,266,235,809	1,287,853,207	1,273,874,143		1,311,510,218	1,342,940,746	1,374,713,018	1,356,802,618	1,387,090,179	1,410,573,744	1,419,627,691	1,412,648,862	1,412,291,188	1,422,833,623	1,431,746,490	1,430,845,871	1,420,870,790	1,424,864,643	1,422,064,339	1,405,295,736	1,418,583,287,000	1,477,162,991	1,453,795,176	1,513,856,060	1,523,317,962	1,537,810,773	1,525,814,189	1,553,399,525	1,533,957,777	1,493,783,054	1,486,851,379	1,498,780,165	1,483,389,904	1,505,581,042	1,503,034,952
diluted	1,349,523,030	1,322,804,429	1,315,948,116	1,315,948,116	1,303,393,465	1,320,229,492	1,300,972,157		1,341,193,159	1,367,430,282	1,402,947,561	1,382,049,817	1,423,975,798	1,436,889,563	1,445,075,313	1,454,291,316	1,463,337,838	1,470,156,102	1,474,499,556	1,485,160,095	1,482,501,832	1,481,375,238	1,487,138,052	1,475,803,767	1,439,078,624,000	1,491,325,420	1,467,348,248	1,521,505,807	1,538,269,522	1,553,150,601	1,552,423,060	1,579,642,133	1,567,527,588	1,558,982,909	1,563,655,040	1,599,592,231	1,571,175,958	1,621,402,274	1,623,915,472
net profit per share attributable to finvolution group’s ordinary shareholders
basic	0.5	0.58	0.59	0.59	0.54	0.53	0.49	0.42	0.4	0.39	0.39	0.42	0.4	0.49	0.39	0.39	0.42	0.41	0.37	0.46	0.46	0.45	0.44	0.42
diluted	0.47	0.56	0.57	0.57	0.52	0.53	0.48	0.41	0.39	0.38	0.39	0.41	0.39	0.48	0.38	0.39	0.41	0.4	0.36	0.44	0.44	0.43	0.42	0.4
net profit per ads attributable to finvolution group’s ordinary shareholders
net revenues			3,481,041,000																																1,209,753,000	1,263,384,000	1,083,967,000	1,059,802,000	943,771,000	898,876,000	898,877,000	1,246,904,000
profit before income tax expenses			891,572,000																											469,570,000				844,418,000
net loss (profit) attributable to non-controlling interest shareholders			8,765,000
net profit attributable to finvolution group’s ordinary shareholders			746,406,000
total comprehensive income			721,368,000
total comprehensive loss attributable to non-controlling interest shareholders			8,765,000
total comprehensive income attributable to finvolution group’s ordinary shareholders			730,133,000
weighted-average number of ordinary shares used in computing net profit per share
basic	1,253,500,919	1,280,035,833	1,265,759,932	1,265,759,932	1,266,235,809	1,287,853,207	1,273,874,143		1,311,510,218	1,342,940,746	1,374,713,018	1,356,802,618	1,387,090,179	1,410,573,744	1,419,627,691	1,412,648,862	1,412,291,188	1,422,833,623	1,431,746,490	1,430,845,871	1,420,870,790	1,424,864,643	1,422,064,339	1,405,295,736	1,418,583,287,000	1,477,162,991	1,453,795,176	1,513,856,060	1,523,317,962	1,537,810,773	1,525,814,189	1,553,399,525	1,533,957,777	1,493,783,054	1,486,851,379	1,498,780,165	1,483,389,904	1,505,581,042	1,503,034,952
diluted	1,349,523,030	1,322,804,429	1,315,948,116	1,315,948,116	1,303,393,465	1,320,229,492	1,300,972,157		1,341,193,159	1,367,430,282	1,402,947,561	1,382,049,817	1,423,975,798	1,436,889,563	1,445,075,313	1,454,291,316	1,463,337,838	1,470,156,102	1,474,499,556	1,485,160,095	1,482,501,832	1,481,375,238	1,487,138,052	1,475,803,767	1,439,078,624,000	1,491,325,420	1,467,348,248	1,521,505,807	1,538,269,522	1,553,150,601	1,552,423,060	1,579,642,133	1,567,527,588	1,558,982,909	1,563,655,040	1,599,592,231	1,571,175,958	1,621,402,274	1,623,915,472
net profit attributable to non-controlling interest shareholders						-9,348,000	481,000	-107,000	4,275,000	4,273,000	9,594,250	8,757,000	35,684,000			2,509,500	6,465,000	3,977,000	-404,000					2,383,000					973,000	1,202,000	116,500	577,000	-49,000			-10,000	207,000	1,235,000
weighted average number of ordinary shares used in computing net income per share
basic								1,298,653,314
diluted								1,334,219,839
net profit attributable to non-controlling ,interest shareholders														-6,064,000	4,836,000					-6,172,000	-1,864,750	-3,892,000	-5,950,000		3,323,000	-1,860,500	-5,719,000	-2,696,000
provision for accounts receivable and other receivable																				-19,120,000	-30,026,500	-32,878,000	-47,440,000
income tax (expenses)/credit																				87,108,000
origination and servicing expenses																					-331,906,750	-459,569,000	-455,004,000	-413,054,000	-464,911,000	-454,807,000	-338,879,000	-272,315,000	-249,495,000	-305,157,000	-261,663,000	-332,078,000	-306,963,000	-264,012,000	-246,682,000	-246,682,000	-200,364,000	-207,093,000		-267,443,000	-267,443,000	-277,844,000
credit losses for quality assurance commitment1																							-391,116,000		-308,737,000	-424,807,750	-326,610,000	-575,782,000	-796,839,000
provision for accounts receivable and other receivables																								-39,788,000	-53,122,000	-53,122,000	-35,143,000
guarantee income1																									667,434,000	679,649,500	747,143,000	821,175,000	1,150,280,000
gain from quality assurance fund1
realized gain from financial guarantee derivatives																														1,749,000	1,749,000	37,235,000	2,582,000		17,971,000	17,971,000	-28,108,000	-101,885,000		27,105,000	27,105,000	42,359,000
fair value change of financial guarantee derivatives																														-4,606,000	-4,606,000	-43,474,000	-7,424,000	-783,000	10,780,000	10,780,000	-6,796,000	196,543,000	71,530,000	-460,428,000	-460,429,000	-67,379,000
weighted-average number of ordinary shares outstanding
basic	1,253,500,919	1,280,035,833	1,265,759,932	1,265,759,932	1,266,235,809	1,287,853,207	1,273,874,143		1,311,510,218	1,342,940,746	1,374,713,018	1,356,802,618	1,387,090,179	1,410,573,744	1,419,627,691	1,412,648,862	1,412,291,188	1,422,833,623	1,431,746,490	1,430,845,871	1,420,870,790	1,424,864,643	1,422,064,339	1,405,295,736	1,418,583,287,000	1,477,162,991	1,453,795,176	1,513,856,060	1,523,317,962	1,537,810,773	1,525,814,189	1,553,399,525	1,533,957,777	1,493,783,054	1,486,851,379	1,498,780,165	1,483,389,904	1,505,581,042	1,503,034,952
diluted	1,349,523,030	1,322,804,429	1,315,948,116	1,315,948,116	1,303,393,465	1,320,229,492	1,300,972,157		1,341,193,159	1,367,430,282	1,402,947,561	1,382,049,817	1,423,975,798	1,436,889,563	1,445,075,313	1,454,291,316	1,463,337,838	1,470,156,102	1,474,499,556	1,485,160,095	1,482,501,832	1,481,375,238	1,487,138,052	1,475,803,767	1,439,078,624,000	1,491,325,420	1,467,348,248	1,521,505,807	1,538,269,522	1,553,150,601	1,552,423,060	1,579,642,133	1,567,527,588	1,558,982,909	1,563,655,040	1,599,592,231	1,571,175,958	1,621,402,274	1,623,915,472
net profit per ordianry share -basic																									350
net profit per ads-basic																									1,740
net profit per ordinary share -diluted																									340
net profit per ads-diluted																									1,720
income per share -basic																										0.248	0.41	0.3	0.275	0.267	0.322	0.385		0.471		0.282	0.438	0.403	0.292
income per ads-basic																										1.235	2.07	1.51	1.377	1.337	1.611	1.924		2.354		1.41	2.189	2.014	1.461
income per share -diluted																										0.245	0.41	0.3	0.273	0.265	0.313	0.379		0.451		0.263	0.413	0.374	0.27
income per ads-diluted																										1.225	2.05	1.5	1.363	1.324	1.566	1.893		2.255		1.314	2.066	1.871	1.352
provision for accounts receivable																												-23,248,000	-33,148,000
realized loss from financial guarantee derivatives																																		-10,122,000
operating revenues:
net interest income2																														316,764,000
changes in expected discretionary payment to irf investors																																			24,047,000
total operating revenues																														1,232,789,000	1,133,258,000	1,512,429,000	1,562,266,000	1,458,337,000	1,219,163,000	1,219,163,000	1,104,282,000	1,047,340,000	916,780,000	912,119,000	912,120,000	1,250,319,000
provision for loan receivables2																														-102,568,000
provision for accounts receivables																														-63,987,000
gain from quality assurance fund																														7,074,000	22,832,750	34,321,000	22,883,000			121,856,250	276,593,000	151,089,000	59,743,000	-271,850,000	-271,850,000	131,296,000
income tax benefits																														-57,092,000
net interest income and loan provision losses																															148,242,250	264,915,000	194,747,000	133,307,000	-9,410,000	44,221,000	-20,315,000	12,462,000	26,991,000	-13,243,000	-13,243,000	-3,415,000
provision for doubtful accounts receivables																															-49,473,750	-69,185,000	-68,349,000
net profit attributable to ppdai group inc.																																	660,511,000	703,180,000	774,174,000	774,174,000	649,295,000	606,559,000	439,046,000
total comprehensive income attributable to ppdaigroup inc.																																	674,323,000			435,495,000	685,920,000	658,310,000
net income per share																																	0.431
net income per ads-basic																																	2.153
net income per ads-diluted																																	2.107
provision for doubtful accounts																																		-60,361,000	-53,021,000
gain from quality assurance																																		34,127,000
less: net loss attributable to non-controlling interest shareholders																																		-62,000
total comprehensive income attributable to ppdai group inc.																																		689,099,000	770,387,000
weighted-average number of ordinary shares used in computing net loss per share
basic	1,253,500,919	1,280,035,833	1,265,759,932	1,265,759,932	1,266,235,809	1,287,853,207	1,273,874,143		1,311,510,218	1,342,940,746	1,374,713,018	1,356,802,618	1,387,090,179	1,410,573,744	1,419,627,691	1,412,648,862	1,412,291,188	1,422,833,623	1,431,746,490	1,430,845,871	1,420,870,790	1,424,864,643	1,422,064,339	1,405,295,736	1,418,583,287,000	1,477,162,991	1,453,795,176	1,513,856,060	1,523,317,962	1,537,810,773	1,525,814,189	1,553,399,525	1,533,957,777	1,493,783,054	1,486,851,379	1,498,780,165	1,483,389,904	1,505,581,042	1,503,034,952
diluted	1,349,523,030	1,322,804,429	1,315,948,116	1,315,948,116	1,303,393,465	1,320,229,492	1,300,972,157		1,341,193,159	1,367,430,282	1,402,947,561	1,382,049,817	1,423,975,798	1,436,889,563	1,445,075,313	1,454,291,316	1,463,337,838	1,470,156,102	1,474,499,556	1,485,160,095	1,482,501,832	1,481,375,238	1,487,138,052	1,475,803,767	1,439,078,624,000	1,491,325,420	1,467,348,248	1,521,505,807	1,538,269,522	1,553,150,601	1,552,423,060	1,579,642,133	1,567,527,588	1,558,982,909	1,563,655,040	1,599,592,231	1,571,175,958	1,621,402,274	1,623,915,472
origination and servicing expenses-related party																																			-30,913,000	-30,913,000	-25,863,000	-27,557,000		-28,834,000	-28,834,000	-19,974,000
gain from guarantee and quality assurance fund																																			23,469,000
gain from disposal of subsidiary
profit before income tax credit																																			580,974,000
income tax credit																																			193,617,000
accretion on convertible redeemable preferred shares to redemption value
net profit attributable to ordinary shareholders																																			774,174,000	423,725,000	649,295,000	606,559,000	439,046,000	-1,303,940,000	-171,656,000	-278,738,000
income per share - basic																																			0.521					-1.164
income per ads - basic																																			2.603					-5.819
income per share - diluted																																			0.495					-1.164
income per ads - diluted																																			2.476					-5.819
change in expected discretionary payment to irf investors																																				11,143,000	44,572,000
accretion on series a convertible redeemable preferred shares to redemption value																																								-301,882,000	-301,882,000	-315,366,000
accretion on series b convertible redeemable preferred shares to redemption value																																								-242,839,000	-242,839,000	-238,876,000
accretion on series c convertible redeemable preferred shares to redemption value																																								-252,153,000	-252,153,000	-265,869,000
rmb
origination and servicing expense-related party																																							-25,333,000
origination and servicing expense																																							-221,766,000
other income:
realized gain/(loss) from financial guarantee derivatives																																							-45,222,000
net loss attributable to non-controlling interest shareholders																																							-1,482,000
series a preferred shares
series b preferred shares
series c preferred shares
comprehensive income																																							397,750,000		425,001,000	602,263,000
expected discretionary payment to irf investors																																								-107,661,000
income tax credit/																																								74,139,000
comprehensive income/																																								-517,163,000
weighted-average number of ordinary shares used in computing net loss per share basic																																								1,120,473,462
diluted																																								1,120,473,462
income tax expense																																									74,139,000	-158,545,000
weighted-average number of ordinary shares used in computing net loss per share
basic and diluted																																									779,804,270	665,000,000
net income per share																																	0.431
basic and diluted																																									-1.52	-0.419
net income per ads attributable to ordinary shareholders

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-05-16	2024-03-31	2024-03-19	2023-12-31	2023-11-21	2023-09-30	2023-08-29	2023-06-30	2023-05-18	2023-03-31	2023-03-15	2022-12-31	2022-11-15	2022-09-30	2022-08-23	2022-06-30	2022-06-01	2022-03-31	2022-03-16	2021-12-31	2021-11-18	2021-09-30	2021-08-23	2021-06-30	2021-05-25	2021-03-31	2021-03-12	2020-12-31	2020-11-17	2020-09-30	2020-08-26	2020-06-30	2020-05-28	2020-03-31	2020-03-20	2019-12-31	2019-11-19	2019-09-30	2019-08-20	2019-06-30	2019-05-15	2019-03-31	2019-03-14	2018-12-31	2018-11-20	2018-09-30	2018-08-22	2018-06-30	2018-05-16	2018-03-31	2018-03-21	2017-12-31	2017-12-13	2017-09-30

assets
cash and cash equivalents	4,236,973,000	5,297,339,000	5,406,481,000	4,672,772,000	5,104,262,000	5,705,919,000	6,211,480,000	6,211,480,000	4,969,319,000	4,969,319,000	5,700,722,000	5,700,722,000	4,724,925,000	4,724,925,000	5,083,789,000	5,083,789,000	3,636,380,000	3,636,380,000	3,042,020,000	3,042,020,000	4,277,291,000	4,277,291,000	3,621,008,000	3,621,008,000	4,418,127,000	4,418,127,000	3,349,759,000	3,349,759,000	2,801,844,000	2,801,844,000	2,559,750,000	2,559,750,000	2,632,174,000	2,632,174,000	1,107,192,000	1,107,192,000	1,756,946,000	1,756,946,000	2,182,928,000	2,182,928,000	2,324,542,000	2,324,542,000	1,762,727,000	1,762,727,000	1,428,753,000	1,428,753,000	1,907,265,000	1,907,265,000	1,616,164,000	1,616,164,000	1,654,559,000	1,654,559,000	2,485,054,000	2,485,054,000	1,476,238,000	1,476,238,000	1,891,131,000	1,891,131,000	715,000,000	715,000,000
restricted cash	2,370,375,000	1,774,995,000	2,018,526,000	2,074,300,000	1,828,148,000	1,770,810,000	1,378,568,000	1,378,568,000	1,800,071,000	1,800,071,000	2,163,022,000	2,163,022,000	2,491,689,000	2,491,689,000	2,960,351,000	2,960,351,000	2,842,707,000	2,842,707,000	4,034,220,000	4,034,220,000	3,791,647,000	3,791,647,000	3,491,338,000	3,491,338,000	4,073,414,000	4,073,414,000	3,915,870,000	3,915,870,000	3,931,316,000	3,931,316,000	3,546,567,000	3,546,567,000	3,484,227,000	3,484,227,000	3,915,293,000	3,915,293,000	3,281,190,000	3,281,190,000	2,556,216,000	2,556,216,000	3,686,203,000	3,686,203,000	6,000,323,000	6,000,323,000	4,488,099,000	4,488,099,000	4,160,791,000	4,160,791,000	3,677,557,000	3,677,557,000	3,502,102,000	3,502,102,000	2,361,996,000	2,361,996,000	2,563,707,000	2,563,707,000	2,392,573,000	2,392,573,000	2,786,360,000	2,786,360,000
short-term investments	2,799,285,000	2,595,018,000	3,055,696,000	2,832,382,000	3,866,027,000	2,432,848,000	2,323,835,000	2,323,835,000	2,960,821,000	2,960,821,000	2,824,471,000	2,824,471,000	3,471,381,000	3,471,381,000	2,666,273,000	2,666,273,000	3,427,020,000	3,427,020,000	2,345,160,000	2,345,160,000	907,300,000	907,300,000	2,689,558,000	2,689,558,000	1,204,901,000	1,204,901,000	1,738,575,000	1,738,575,000	2,056,029,000	2,056,029,000	2,538,666,000	2,538,666,000	1,970,958,000	1,970,958,000	2,278,395,000	2,278,395,000	1,625,442,000	1,625,442,000	233,690,000	233,690,000	114,560,000	114,560,000	419,287,000	419,287,000	989,339,000	989,339,000	1,444,120,000	1,444,120,000	1,694,660,000	1,694,660,000	1,834,592,000	1,834,592,000	1,440,540,000	1,440,540,000	2,261,907,000	2,261,907,000	1,958,910,000	1,958,910,000	1,500,000,000	1,500,000,000
investments	1,213,931,000	1,144,284,000	1,141,890,000	1,173,003,000	1,169,383,000	1,157,891,000	1,150,379,000	1,150,379,000	1,135,133,000	1,135,133,000	1,126,652,000	1,126,652,000	1,112,445,000	1,112,445,000	1,109,292,000	1,109,292,000	1,084,084,000	1,084,084,000	1,064,992,000	1,064,992,000	1,022,468,000	1,022,468,000	1,000,705,000	1,000,705,000	971,117,000	971,117,000	972,277,000	972,277,000	979,747,000	979,747,000	988,805,000	988,805,000	950,515,000	950,515,000	976,333,000	976,333,000	953,951,000	953,951,000	953,053,000	953,053,000	952,833,000	952,833,000	251,485,000	251,485,000	201,154,000	201,154,000	170,312,000	170,312,000	167,501,000	167,501,000	40,148,000	40,148,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb426,949 and rmb535,319 as of december 31, 2024 and september 30, 2025, respectively	1,495,064,000
intangible assets	147,633,000	147,898,000	147,898,000	137,298,000	137,298,000	137,298,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,692,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	98,947,000	96,780,000	96,780,000	96,780,000	96,780,000	96,780,000	96,780,000	64,280,000	64,280,000	64,280,000	64,280,000	68,880,000	68,880,000	68,880,000	68,880,000	68,880,000	68,880,000							63,760,000
property, equipment and software	610,610,000	617,701,000	616,120,000	623,792,000	637,928,000	641,800,000	613,883,000	613,883,000	140,933,000	140,933,000	149,459,000	149,459,000	169,118,000	169,118,000	138,191,000	138,191,000	141,345,000	141,345,000	130,747,000	130,747,000	102,767,000	102,767,000	111,941,000	111,941,000	112,397,000	112,397,000	114,142,000	114,142,000	84,608,000	84,608,000	91,819,000	91,819,000	93,876,000	93,876,000	108,049,000	108,049,000	117,178,000	117,178,000	127,161,000	127,161,000	134,324,000	134,324,000	141,306,000	141,306,000	142,474,000	142,474,000	138,203,000	138,203,000	144,002,000	144,002,000	135,935,000	135,935,000	131,322,000	131,322,000	113,683,000	113,683,000	108,248,000	108,248,000	78,135,000	78,135,000
loans receivable, net of credit loss allowance for loans receivable of rmb226,467 and rmb409,935 as of december 31, 2024 and september 30, 2025, respectively	6,346,481,000
accounts receivable	2,419,946,000	2,779,486,000	2,641,636,000	2,405,880,000	2,208,504,000	2,376,816,000	2,128,610,000	2,128,610,000	2,208,538,000	2,208,538,000	2,246,671,000	2,246,671,000	2,202,510,000	2,202,510,000	2,244,132,000	2,244,132,000	2,217,445,000	2,217,445,000	2,192,474,000	2,192,474,000	2,114,238,000	2,114,238,000	1,982,394,000	1,982,394,000		1,890,846,000					1,214,704,000	1,214,704,000									882,305,000		1,101,462,000	1,101,462,000	1,195,930,000	1,195,930,000	964,055,000	964,055,000	812,042,000		621,800,000	621,800,000	473,660,000	473,660,000	340,306,000	340,306,000	17,773,000	17,773,000	33,983,000	33,983,000
deferred tax assets	3,398,606,000	3,111,379,000	2,795,057,000	2,513,865,000	2,395,800,000	2,177,877,000	1,824,847,000	1,824,847,000	1,624,325,000	1,624,325,000	1,455,433,000	1,455,433,000	1,315,170,000	1,315,170,000	1,160,701,000	1,160,701,000	919,361,000	919,361,000	876,798,000	876,798,000	774,401,000	774,401,000	593,590,000	593,590,000	455,741,000	455,741,000	329,147,000	329,147,000	229,186,000	229,186,000	183,284,000	183,284,000	155,758,000	155,758,000	420,173,000	420,173,000	420,263,000	420,263,000	419,263,000	419,263,000	129,740,000	129,740,000	134,794,000	134,794,000	136,294,000	136,294,000	122,840,000	122,840,000	122,763,000	122,763,000	31,600,000	31,600,000	50,406,000	50,406,000	81,185,000	81,185,000	128,361,000	128,361,000
right of use assets	34,881,000	39,620,000	37,668,000	36,826,000	29,987,000	28,740,000	32,082,000	32,082,000	38,110,000	38,110,000	168,910,000	168,910,000	172,496,000	172,496,000	183,879,000	183,879,000	192,428,000	192,428,000	202,403,000	202,403,000	33,334,000	33,334,000	40,902,000	40,902,000	49,138,000	49,138,000	33,967,000	33,967,000	43,168,000	43,168,000	52,634,000	52,634,000	54,968,000	54,968,000	63,345,000	63,345,000	72,608,000	72,608,000	85,158,000	85,158,000		95,786,000	100,363,000	100,363,000	102,039,000	102,039,000
prepaid expenses and other assets	1,217,268,000	1,359,190,000	1,221,091,000	1,289,380,000	1,411,192,000	2,027,796,000	2,837,919,000	2,837,919,000	3,384,317,000	3,384,317,000	2,974,613,000	2,974,613,000	2,852,409,000	2,852,409,000	2,796,856,000	2,796,856,000	2,966,751,000	2,966,751,000	2,881,294,000	2,881,294,000	2,705,737,000	2,705,737,000	2,302,112,000	2,302,112,000	1,899,438,000	1,899,438,000	1,558,433,000	1,558,433,000	1,323,931,000	1,323,931,000	1,135,214,000	1,135,214,000	1,050,009,000	1,050,009,000	1,133,766,000	1,133,766,000	1,098,386,000	1,098,386,000	1,292,451,000	1,292,451,000	1,391,023,000	1,391,023,000	1,969,262,000	1,969,262,000	1,002,807,000	1,002,807,000	319,524,000	319,524,000	221,793,000	221,793,000	321,149,000	321,149,000	146,128,000	146,128,000			145,699,000	145,699,000	198,057,000	198,057,000
goodwill			50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,411,000	50,676,000	50,676,000	50,411,000	50,411,000
total assets	26,291,053,000	25,647,096,000	24,430,169,000	23,607,121,000	22,778,572,000	21,953,948,000	21,399,559,000	21,399,559,000	21,293,673,000	21,293,673,000	22,231,833,000	22,231,833,000	21,705,490,000	21,705,490,000	21,341,633,000	21,341,633,000	21,382,911,000	21,382,911,000	20,942,494,000	20,942,494,000	19,641,815,000	19,641,815,000	19,399,791,000	19,399,791,000	18,138,551,000	18,138,551,000	16,268,336,000	16,268,336,000	15,199,158,000	15,199,158,000	14,909,155,000	14,909,155,000	14,882,185,000	14,882,185,000	15,225,841,000	15,225,841,000	14,969,348,000	14,969,348,000	15,956,721,000	15,956,721,000	18,304,456,000	18,304,456,000	19,489,136,000	19,489,136,000	16,496,226,000	16,496,226,000	15,154,558,000	15,154,558,000	13,142,467,000	13,142,467,000	11,907,673,000	11,907,673,000	10,177,613,000	10,177,613,000	9,159,419,000	9,159,419,000	8,603,663,000	8,603,663,000	6,868,458,000	6,868,458,000
liabilities and shareholders’ equity
deferred guarantee income	1,322,348,000	1,360,750,000	1,381,146,000	1,515,950,000	1,629,253,000	1,709,242,000	1,826,629,000	1,826,629,000	1,882,036,000	1,882,036,000	1,869,869,000	1,869,869,000	1,831,396,000	1,831,396,000	1,786,267,000	1,786,267,000	1,805,164,000	1,805,164,000	1,625,676,000	1,625,676,000	1,416,140,000	1,416,140,000	1,183,365,000	1,183,365,000	1,089,503,000	1,089,503,000	1,129,076,000	1,129,076,000						1,259,396,000					1,245,290,000	1,245,290,000
liability from quality assurance commitment	3,088,340,000	3,183,737,000	2,995,732,000	2,964,116,000	3,166,283,000	3,051,660,000	3,088,269,000	3,088,269,000	3,306,132,000	3,306,132,000	3,703,989,000	3,703,989,000	3,758,572,000	3,758,572,000	3,650,909,000	3,650,909,000	3,555,618,000	3,555,618,000	3,470,763,000	3,470,763,000	3,286,946,000	3,286,946,000
payroll and welfare payable	269,194,000	237,223,000	190,907,000	290,389,000	229,497,000	202,035,000	165,193,000	165,193,000	261,528,000	261,528,000	222,626,000	222,626,000	202,380,000	202,380,000	175,825,000	175,825,000	274,408,000	274,408,000	213,138,000	213,138,000	192,674,000	192,674,000	164,562,000	164,562,000	252,918,000	252,918,000	190,656,000	190,656,000	165,318,000	165,318,000	129,280,000	129,280,000	220,989,000	220,989,000	144,052,000	144,052,000	118,042,000	118,042,000	98,052,000	98,052,000	176,685,000	176,685,000	193,342,000	193,342,000	139,197,000	139,197,000	128,409,000	128,409,000	188,254,000	188,254,000	134,651,000	134,651,000	113,888,000	113,888,000	103,874,000	103,874,000	156,831,000	156,831,000	169,606,000	169,606,000
taxes payable	667,522,000	412,869,000	947,691,000	705,928,000	637,803,000	489,970,000	364,000,000	364,000,000	207,477,000	207,477,000	172,623,000	172,623,000	134,299,000	134,299,000	302,772,000	302,772,000	134,027,000	134,027,000	138,462,000	138,462,000	198,354,000	198,354,000	377,873,000	377,873,000	200,648,000	200,648,000	103,532,000	103,532,000	81,150,000	81,150,000	151,160,000	151,160,000	154,398,000	154,398,000	201,663,000	201,663,000	127,703,000	127,703,000	166,355,000	166,355,000	128,298,000	128,298,000	190,129,000	190,129,000	220,516,000	220,516,000	183,146,000	183,146,000	225,101,000	225,101,000	342,026,000	342,026,000	307,055,000	307,055,000	210,328,000	210,328,000		257,143,000	180,492,000	180,492,000
short-term borrowings	91,845,000	67,326,000	26,968,000		5,995,000	5,468,000	5,688,000	5,688,000																											150,000,000	150,000,000	150,000,000	150,000,000	235,000,000	235,000,000	235,000,000	235,000,000	25,000,000	25,000,000	25,000,000	25,000,000	25,000,000	25,000,000	25,000,000
funds payable to investors of consolidated trusts	977,836,000	1,168,407,000	571,678,000	796,122,000	435,669,000	509,356,000	332,598,000	332,598,000	436,352,000	436,352,000	1,225,856,000	1,225,856,000	1,185,798,000	1,185,798,000	1,054,904,000	1,054,904,000	1,845,210,000	1,845,210,000	2,150,622,000	2,150,622,000	2,096,450,000	2,096,450,000	2,294,933,000	2,294,933,000	1,795,640,000	1,795,640,000	1,023,251,000	1,023,251,000	677,784,000	677,784,000	827,395,000	827,395,000	1,661,841,000	1,661,841,000	2,427,922,000	2,427,922,000	2,853,244,000	2,853,244,000	3,346,310,000	3,346,310,000	3,660,483,000	3,660,483,000	2,970,895,000	2,970,895,000	2,629,773,000	2,629,773,000	2,141,121,000	2,141,121,000	1,505,909,000	1,505,909,000	950,654,000	950,654,000	437,728,000	437,728,000	407,341,000	407,341,000		502,641,000	465,675,000	465,675,000
contract liability	135,000	835,000	3,582,000		11,573,000	5,109,000	5,109,000	5,109,000	5,109,000		5,109,000	5,109,000	5,109,000	5,109,000	5,215,000	5,215,000	5,109,000		6,088,000	6,088,000	6,239,000	6,239,000	10,349,000	10,349,000	8,436,000		2,085,000	2,085,000	2,522,000	2,522,000	3,018,000	3,018,000	3,447,000		4,067,000	4,067,000	10,188,000	10,188,000	40,132,000	40,132,000	55,728,000		92,430,000	92,430,000							175,263,000	175,263,000	154,792,000	154,792,000	151,823,000	151,823,000
deferred tax liabilities	676,339,000	604,602,000	552,681,000		464,312,000	368,209,000	333,264,000	333,264,000	340,608,000		336,835,000	336,835,000	317,669,000	317,669,000	291,729,000	291,729,000	232,188,000		208,138,000	208,138,000	173,630,000	173,630,000	155,526,000	155,526,000	137,632,000		112,964,000	112,964,000	117,290,000	117,290,000	100,968,000	100,968,000	103,548,000		202,907,000	202,907,000	206,801,000	206,801,000	206,922,000	206,922,000	198,922,000		112,070,000	112,070,000	110,070,000	110,070,000	99,865,000	99,865,000	100,064,000		15,940,000	15,940,000	15,940,000	15,940,000	15,940,000	15,940,000		15,940,000
accrued expenses and other liabilities	1,426,782,000	1,400,813,000	1,421,397,000		1,286,654,000	1,206,821,000	984,411,000	984,411,000	941,899,000		979,336,000	979,336,000	998,688,000	998,688,000	844,405,000	844,405,000	909,708,000		931,900,000	931,900,000	839,753,000	839,753,000	780,874,000	780,874,000	641,097,000		647,899,000	647,899,000	705,898,000	705,898,000	589,138,000	589,138,000	510,986,000		392,061,000	392,061,000	326,999,000	326,999,000	391,566,000	391,566,000	291,934,000		413,498,000	413,498,000	251,782,000	251,782,000	212,544,000	212,544,000	222,519,000		220,328,000	220,328,000	241,210,000	241,210,000	178,501,000	178,501,000			208,213,000	208,213,000
leasing liabilities	27,299,000	33,904,000	32,070,000		25,266,000	30,839,000	33,152,000	33,152,000	35,878,000		159,575,000	159,575,000	159,287,000	159,287,000	176,255,000	176,255,000	176,990,000		184,700,000	184,700,000	22,157,000	22,157,000	28,481,000	28,481,000	33,356,000		19,971,000	19,971,000	30,111,000	30,111,000	39,613,000	39,613,000	43,296,000		53,706,000	53,706,000	62,203,000	62,203,000	75,292,000	75,292,000			91,348,000	91,348,000	92,114,000	92,114,000	118,420,000	118,420,000
convertible senior notes	1,028,541,000	1,034,437,000
total liabilities	9,576,181,000	9,504,903,000	8,634,053,000		7,892,305,000	7,578,709,000	7,579,644,000	7,579,644,000	7,422,775,000		8,675,818,000	8,675,818,000	8,593,198,000	8,593,198,000	8,704,744,000	8,704,744,000	8,938,422,000		8,929,487,000	8,929,487,000	8,232,343,000	8,232,343,000	8,572,586,000	8,572,586,000	7,428,941,000		6,231,804,000	6,231,804,000	5,821,632,000	5,821,632,000	6,164,817,000	6,164,817,000	6,451,855,000		7,161,393,000	7,161,393,000	7,344,167,000	7,344,167,000	8,692,520,000	8,692,520,000	10,292,976,000		11,856,365,000	11,856,365,000	9,493,744,000	9,493,744,000	8,832,250,000	8,832,250,000	7,156,729,000		6,618,231,000	6,618,231,000	5,348,071,000	5,348,071,000	4,898,556,000	4,898,556,000			4,503,320,000	4,503,320,000
commitments and contingencies
finvolution group shareholders’ equity
ordinary shares	103,000	103,000	103,000		103,000	103,000	103,000	103,000	103,000		103,000	103,000	103,000	103,000	103,000	103,000	103,000		103,000	103,000	103,000	103,000	103,000	103,000	103,000		103,000	103,000	103,000	103,000	103,000	103,000	103,000		103,000	103,000	103,000	103,000	103,000	103,000	103,000		103,000	103,000	103,000	103,000					102,000	102,000	102,000	102,000
additional paid-in capital	5,875,615,000	5,838,926,000	5,854,162,000		5,811,096,000	5,773,446,000	5,776,852,000	5,776,852,000	5,748,734,000		5,738,613,000	5,738,613,000	5,714,469,000	5,714,469,000	5,707,355,000	5,707,355,000	5,692,703,000		5,744,874,000	5,744,874,000	5,715,772,000	5,715,772,000	5,706,895,000	5,706,895,000	5,694,733,000		5,676,879,000	5,676,879,000	5,657,451,000	5,657,451,000	5,647,114,000	5,647,114,000	5,659,990,000		5,647,563,000	5,647,563,000	5,646,651,000	5,646,651,000	5,640,345,000	5,640,345,000	5,640,898,000		5,630,852,000	5,630,852,000	5,620,359,000	5,620,359,000	5,607,375,000	5,607,375,000	5,896,017,000		5,883,639,000	5,883,639,000	5,866,091,000	5,866,091,000	5,965,722,000	5,965,722,000
treasury stock	-2,177,853,000	-2,163,698,000	-1,772,993,000		-1,730,759,000	-1,558,855,000	-1,391,529,000	-1,391,529,000	-1,199,683,000		-998,356,000	-998,356,000	-858,133,000	-858,133,000	-655,601,000	-655,601,000	-568,595,000		-515,582,000	-515,582,000	-444,165,000	-444,165,000	-377,968,000	-377,968,000	-324,171,000		-342,761,000	-342,761,000	-345,627,000	-345,627,000	-364,517,000	-364,517,000	-401,621,000		-319,845,000	-319,845,000	-169,328,000	-169,328,000	-71,571,000	-71,571,000	-47,174,000		-12,314,000	-12,314,000	-12,315,000	-12,315,000	-5,231,000	-5,231,000	-332,121,000		-243,777,000	-243,777,000	-2,000	-2,000	-8,765,000	-8,765,000
statutory reserves	852,723,000	852,723,000	852,723,000		762,472,000	762,472,000	762,472,000	762,472,000	762,472,000		698,401,000	698,401,000	698,401,000	698,401,000	698,401,000	698,401,000	698,401,000		610,403,000	610,403,000	610,403,000	610,403,000	610,403,000	610,403,000	610,403,000		458,058,000	458,058,000	458,058,000	458,058,000	458,058,000	458,058,000	458,058,000		317,198,000	317,198,000	317,198,000	317,198,000	317,198,000	317,198,000	317,198,000		256,006,000	256,006,000	256,006,000	256,006,000	256,006,000	256,006,000	256,006,000		55,090,000	55,090,000	55,090,000	55,090,000	55,090,000	55,090,000			15,662,000	15,662,000
accumulated other comprehensive income	31,398,000	77,058,000	76,353,000		64,421,000	43,215,000	91,138,000	91,138,000	80,006,000		88,861,000	88,861,000	103,772,000	103,772,000	23,069,000	23,069,000	52,237,000		71,881,000	71,881,000	31,531,000	31,531,000	-19,315,000	-19,315,000	-16,769,000		-2,754,000	-2,754,000	-7,018,000	-7,018,000	9,454,000	9,454,000	-5,142,000		35,500,000	35,500,000	72,582,000	72,582,000	74,162,000	74,162,000	70,320,000		79,276,000	79,276,000	57,941,000	57,941,000	44,129,000	44,129,000	58,210,000		61,997,000	61,997,000	25,372,000	25,372,000	-26,379,000
retained earnings	11,816,208,000	11,191,919,000	10,444,922,000		9,618,263,000	8,994,668,000	8,443,523,000	8,443,523,000	8,357,153,000		7,896,663,000	7,896,663,000	7,330,707,000	7,330,707,000	6,776,273,000	6,776,273,000	6,496,852,000		6,033,375,000	6,033,375,000	5,434,341,000	5,434,341,000	4,853,131,000	4,853,131,000	4,690,951,000		4,187,442,000	4,187,442,000	3,551,102,000	3,551,102,000	2,924,719,000	2,924,719,000	2,651,918,000		2,298,839,000	2,298,839,000	1,696,174,000	1,696,174,000	1,239,467,000	1,239,467,000	1,966,611,000		1,616,526,000	1,616,526,000			358,132,000	358,132,000
total finvolution group shareholders’ equity	16,398,194,000	15,797,031,000	15,455,270,000		14,525,596,000	14,015,049,000	13,682,559,000	13,682,559,000	13,748,785,000		13,424,285,000	13,424,285,000	12,989,319,000	12,989,319,000	12,549,600,000	12,549,600,000	12,371,701,000		11,945,054,000	11,945,054,000	11,347,985,000	11,347,985,000	10,773,249,000	10,773,249,000	10,655,250,000		9,976,967,000	9,976,967,000	9,314,069,000	9,314,069,000	8,674,931,000	8,674,931,000	8,363,306,000		7,979,358,000	7,979,358,000	7,563,380,000	7,563,380,000	7,199,704,000	7,199,704,000	7,947,956,000		7,570,449,000	7,570,449,000
non-controlling interest	316,678,000	345,162,000	340,846,000		360,671,000	360,190,000	137,356,000	137,356,000	122,113,000		131,730,000	131,730,000	122,973,000	122,973,000	87,289,000	87,289,000	72,788,000		67,953,000	67,953,000	61,487,000	61,487,000	53,956,000	53,956,000	54,360,000		59,565,000	59,565,000	63,457,000	63,457,000	69,407,000	69,407,000	67,024,000		85,090,000	85,090,000	61,801,000	61,801,000	64,497,000	64,497,000	63,524,000		62,322,000	62,322,000	61,745,000	61,745,000	61,794,000	61,794,000	61,856,000		59,981,000	59,981,000	59,774,000	59,774,000	58,539,000	58,539,000			4,310,000	4,310,000
total shareholders’ equity	16,714,872,000	16,142,193,000	15,796,116,000		14,886,267,000	14,375,239,000	13,819,915,000	13,819,915,000	13,870,898,000		13,556,015,000	13,556,015,000	13,112,292,000	13,112,292,000	12,636,889,000	12,636,889,000	12,444,489,000		12,013,007,000	12,013,007,000	11,409,472,000	11,409,472,000	10,827,205,000	10,827,205,000	10,709,610,000		10,036,532,000	10,036,532,000	9,377,526,000	9,377,526,000	8,744,338,000	8,744,338,000	8,430,330,000		8,064,448,000	8,064,448,000	7,625,181,000	7,625,181,000	7,264,201,000	7,264,201,000	8,011,480,000		7,632,771,000	7,632,771,000	7,002,482,000	7,002,482,000	6,322,308,000	6,322,308,000	5,985,738,000		5,289,442,000	5,289,442,000
total liabilities and shareholders’ equity	26,291,053,000	25,647,096,000	24,430,169,000		22,778,572,000	21,953,948,000	21,399,559,000	21,399,559,000	21,293,673,000		22,231,833,000	22,231,833,000	21,705,490,000	21,705,490,000	21,341,633,000	21,341,633,000	21,382,911,000		20,942,494,000	20,942,494,000	19,641,815,000	19,641,815,000	19,399,791,000	19,399,791,000	18,138,551,000		16,268,336,000	16,268,336,000	15,199,158,000	15,199,158,000	14,909,155,000	14,909,155,000	14,882,185,000		15,225,841,000	15,225,841,000	14,969,348,000	14,969,348,000	15,956,721,000	15,956,721,000	18,304,456,000		19,489,136,000	19,489,136,000	16,496,226,000	16,496,226,000	15,154,558,000	15,154,558,000	13,142,467,000		11,907,673,000	11,907,673,000	10,177,613,000	10,177,613,000	9,159,419,000	9,159,419,000
8
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb426,949 and rmb471,131 as of december 31, 2024 and june 30, 2025, respectively		1,472,700,000
loans receivable, net of credit loss allowance for loans receivable of rmb226,467 and rmb319,957 as of december 31, 2024 and june 30, 2025, respectively		5,307,486,000
9
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb426,949 and rmb432,418 as of december 31, 2024 and march 31, 2025, respectively			1,537,306,000
loans receivable, net of credit loss allowance for loans receivable of rmb226,467 and rmb263,237 as of december 31, 2024 and march 31, 2025, respectively			3,760,389,000
dividends payable			510,201,000				441,331,000	441,331,000							416,463,000	416,463,000							372,483,000	372,483,000							317,569,000	317,569,000							263,569,000	263,569,000							390,716,000	390,716,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb529,392 and rmb426,949 as of december 31, 2023 and 2024, respectively				1,639,591,000
loans receivable, net of credit loss allowance for loans receivable of rmb214,550 and rmb226,467 as of december 31, 2023 and 2024, respectively				4,157,621,000
liabilities and shareholders’ equity:
contract liabilities				10,185,000						5,109,000								5,109,000								8,436,000								3,447,000								55,728,000			171,851,000	171,851,000	153,272,000	153,272,000	165,469,000	165,469,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb529,392 and rmb453,718 as of december 31, 2023 and september 30, 2024, respectively					1,722,136,000
loans receivable, net of credit loss allowance for loans receivable of rmb214,550 and rmb206,241 as of december 31, 2023 and september 30, 2024, respectively					2,217,496,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb529,392 and rmb508,429 as of december 31, 2023 and june 30, 2024, respectively						1,788,655,000
loans receivable, net of credit loss allowance for loans receivable of rmb214,550 and rmb215,148 as of december 31, 2023 and june 30, 2024, respectively						1,657,087,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb529,392 and rmb545,725 as of december 31, 2023 and march 31, 2024, respectively							1,794,789,000	1,794,789,000
loans receivable, net of credit loss allowance for loans receivable of rmb214,550 and rmb204,264 as of december 31, 2023 and march 31, 2024, respectively							954,064,000	954,064,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb374,304 and rmb529,392 as of december 31, 2022 and december 31, 2023, respectively									1,755,615,000
loans receivable, net of credit loss allowance for loans receivable of rmb294,355 and rmb214,550 as of december 31, 2022 and december 31, 2023, respectively									1,127,388,000
short-term borrowing loan									5,756,000																																										29,950,000	29,950,000	29,950,000	29,950,000	52,110,000	52,110,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb374,304 and rmb529,392 as of december 31, 2022 and 2023, respectively										1,755,615,000
loans receivable, net of credit loss allowance for loans receivable of rmb294,355 and rmb214,550 as of december 31, 2022 and 2023, respectively										1,127,388,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb374,304 and rmb465,872 as of december 31, 2022 and september 30, 2023, respectively											1,716,680,000	1,716,680,000
loans receivable, net of credit loss allowance for loans receivable of rmb294,355 and rmb277,619 as of december 31, 2022 and september 30, 2023, respectively											1,556,097,000	1,556,097,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb374,304 and rmb420,018 as of december 31, 2022 and june 30, 2023, respectively													1,660,999,000	1,660,999,000
loans receivable, net of credit loss allowance for loans receivable of rmb294,355 and rmb267,488 as of december 31, 2022 and june 30, 2023, respectively													1,383,245,000	1,383,245,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb374,304 and rmb394,930 as of december 31, 2022, and march 31, 2023, respectively															1,606,434,000	1,606,434,000
loans receivable, net of credit loss allowance for loans receivable of rmb294,355 and rmb254,613 as of december 31, 2022 and march 31, 2023, respectively															1,242,632,000	1,242,632,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb239,506 and rmb374,304 as of december 31, 2021 and december 31, 2022, respectively																	1,669,855,000
loans receivable, net of credit loss allowance for loans receivable of rmb427,873 and rmb294,355 as of december 31, 2021 and december 31, 2022, respectively																	2,136,432,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb239,506 and rmb374,304 as of december 31, 2021 and 2022, respectively																		1,669,855,000
loans receivable, net of credit loss allowance for loans receivable of rmb427,873 and rmb294,355 as of december 31, 2021 and 2022, respectively																		2,136,432,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb239,506 and rmb312,363 as of december 31, 2021 and september 30, 2022, respectively																			1,499,592,000	1,499,592,000
loans receivable, net of credit loss allowance for loans receivable of rmb427,873 and rmb415,499 as of december 31, 2021 and september 30, 2022, respectively																			2,523,691,000	2,523,691,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb239,506 and rmb289,486 as of december 31, 2021 and june 30, 2022, respectively																					1,237,150,000	1,237,150,000
loans receivable, net of credit loss allowance for loans receivable of rmb427,873 and rmb386,602 as of december 31, 2021 and june 30, 2022, respectively																					2,526,379,000	2,526,379,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb239,506 and rmb262,274 as of december 31, 2021 and march 31, 2022, respectively																							1,001,235,000	1,001,235,000
loans receivable, net of credit loss allowance for loans receivable of rmb427,873 and rmb455,249 as of december 31, 2021 and march 31, 2022, respectively																							2,415,650,000	2,415,650,000
expected credit losses for quality assurance commitment																							3,204,140,000	3,204,140,000	3,188,561,000	3,188,561,000	2,918,423,000	2,918,423,000						2,390,501,000					2,315,859,000	2,315,859,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb223,514 and rmb239,506 as of december 31, 2020 and december 31, 2021, respectively																									931,798,000
loans receivable, net of credit loss allowance for loans receivable of rmb382,012 and rmb427,873 as of december 31, 2020 and december 31, 2021, respectively																									1,982,276,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb188,725 and rmb250,696 as of december 31, 2020 and december 31, 2021, respectively																									1,890,846,000
payable to platform customers																									81,150,000	81,150,000	83,947,000	83,947,000	89,928,000	89,928,000	94,309,000	94,309,000	103,453,000	103,453,000	110,733,000	110,733,000	175,808,000	175,808,000	308,173,000	308,173,000	684,630,000	684,630,000	2,394,013,000	2,394,013,000	740,454,000	740,454,000	782,713,000	782,713,000	905,034,000	905,034,000	1,294,034,000	1,294,034,000	688,967,000	688,967,000			1,113,966,000	1,113,966,000	1,662,987,000	1,662,987,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb223,514 and rmb239,506 as of december 31, 2020 and 2021, respectively																										931,798,000
loans receivable, net of credit loss allowance for loans receivable of rmb382,012 and rmb427,873 as of december 31, 2020 and 2021, respectively																										1,982,276,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb223,514 and rmb245,367 as of december 31, 2020 and september 30, 2021, respectively																											977,564,000	977,564,000
loans receivable, net of credit loss allowance for loans receivable of rmb382,012 and rmb366,982 as of december 31, 2020 and september 30, 2021, respectively																											1,539,951,000	1,539,951,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb188,725 and rmb255,354 as of december 31, 2020, and september 30, 2021, respectively																											1,589,293,000	1,589,293,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb223,514 and rmb245,492 as of december 31, 2020 and june 30, 2021, respectively																													1,052,037,000	1,052,037,000
loans receivable, net of credit loss allowance for loans receivable of rmb382,012 and rmb322,489 as of december 31, 2020 and june 30, 2021, respectively																													1,087,851,000	1,087,851,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb188,725 and rmb245,139 as of december 31, 2020 and june 30, 2021, respectively																													1,460,083,000	1,460,083,000
deferred guarantee income1																													1,190,874,000	1,190,874,000	1,261,571,000	1,261,571,000	1,259,396,000		1,224,437,000	1,224,437,000	1,202,741,000	1,202,741,000
expected credit losses for quality assurance commitment1																													2,760,757,000	2,760,757,000	2,650,796,000	2,650,796,000	2,390,501,000		2,249,845,000	2,249,845,000	2,110,438,000	2,110,438,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb223,514 and rmb241,487 as of december 31, 2020 and march 31, 2021, respectively																															1,104,998,000	1,104,998,000
loans receivable, net of credit loss allowance for loans receivable of rmb382,012 and rmb309,774 as of december 31, 2020 and march 31, 2021, respectively																															1,343,356,000	1,343,356,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb809,503 and rmb223,514 as of december 31, 2019 and december 31, 2020, respectively																																	1,121,554,000
loans receivable, net of credit loss allowance for loans receivable of rmb316,124 and rmb382,012 as of december 31, 2019 and december 31, 2020, respectively																																	2,354,882,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb145,699 and rmb188,725 as of december 31, 2019 and december 31, 2020, respectively																																	863,906,000
contract assets																																									20,555,000	20,555,000	38,142,000	38,142,000	110,645,000	110,645,000	108,845,000	108,845,000	112,103,000	112,103,000
quality assurance payable1
accounts receivable, net of credit loss allowance for accounts receivable of rmb145,699 and rmb188,725 as of december 31, 2019 and 2020, respectively																																		863,906,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb809,503 and rmb223,514 as of december 31, 2019 and 2020, respectively																																		1,121,554,000
loans receivable, net of credit loss allowance for loans receivable of rmb316,124 and rmb382,012 as of december 31, 2019 and 2020, respectively																																		2,354,882,000
quality assurance payable																																									4,776,153,000	4,776,153,000	5,373,640,000	5,373,640,000	5,112,987,000	5,112,987,000	4,597,044,000	4,597,044,000		3,819,379,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb809,503 and rmb284,266 as of december 31, 2019 and september 30, 2020, respectively																																			1,157,485,000	1,157,485,000
loans receivable, net of credit loss allowance for loans receivable of rmb316,124 and rmb607,423 as of december 31, 2019 and september 30, 2020, respectively																																			3,232,716,000	3,232,716,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb145,699 and rmb255,197 as of december 31, 2019 and september 30, 2020, respectively																																			685,903,000	685,903,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb809,503 and rmb523,175 as of december 31, 2019 and june 30, 2020, respectively																																					1,263,824,000	1,263,824,000
loans receivable, net of credit loss allowance for loans receivable of rmb316,124 and rmb737,557 as of december 31, 2019 and june 30, 2020, respectively																																					3,567,038,000	3,567,038,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb145,699 and rmb325,975 as of december 31, 2019 and june 30, 2020, respectively																																					665,331,000	665,331,000
quality assurance receivable, net of credit loss allowance for quality assurance receivable of rmb809,503 and rmb683,608 as of december 31, 2019 and march 31, 2020, respectively																																							2,631,075,000	2,631,075,000
loans receivable, net of credit loss allowance for loans receivable of rmb316,124 and rmb791,549 as of december 31, 2019 and march 31, 2020, respectively																																							4,562,162,000	4,562,162,000
accounts receivable, net of credit loss allowance for accounts receivable of rmb145,699 and rmb310,888 as of december 31, 2019 and march 31, 2020, respectively																																							766,373,000	766,373,000
quality assurance receivable																																									3,649,642,000	3,649,642,000			2,497,327,000	2,497,327,000	2,475,318,000	2,475,318,000		2,064,366,000
loans receivable, net of provision for loan losses																																									4,808,252,000		4,548,985,000		4,033,994,000						1,486,149,000		784,299,000				681,794,000
financial guarantee derivative assets																																											4,606,000	4,606,000	48,080,000	48,080,000	55,504,000	55,504,000	56,287,000	56,287,000	45,507,000	45,507,000	52,303,000	52,303,000
right of use assets1																																									95,786,000						127,066,000	127,066,000
leasing liabilities1																																									85,143,000
accounts receivable, net of provision for doubtful accounts of rmb50,544																																										882,305,000
loans receivable, net of provision for loan losses of rmb74,381																																										4,808,252,000
amounts due from related party
quality assurance fund receivable																																											2,901,703,000	2,901,703,000							2,002,519,000	2,002,519,000	2,043,394,000	2,043,394,000	1,325,312,000	1,325,312,000	1,152,769,000	1,152,769,000	975,381,000	975,381,000
loans receivable, net of benefit from loan losses																																												4,548,985,000		4,033,994,000						1,486,149,000		784,299,000
ppdai group inc. shareholders’ equity
accumulated deficit																																													1,018,643,000	1,018,643,000			45,668,000		-527,590,000	-527,590,000	-1,176,885,000	-1,176,885,000	-1,783,444,000	-1,783,444,000			-1,055,692,000	-1,055,692,000
total ppdai group inc. shareholders’ equity																																													6,940,737,000	6,940,737,000	6,260,514,000	6,260,514,000	5,923,882,000		5,229,461,000	5,229,461,000	4,769,768,000	4,769,768,000	4,202,324,000	4,202,324,000
loans and receivables, net of provision for loan losses																																															3,041,424,000		2,331,108,000
ppdai group inc. shareholder’s deficit
class a ordinary shares																																															59,000	59,000	58,000
class b ordinary shares																																															44,000	44,000	44,000
loans and receivables, net of benefit from loan losses																																																3,041,424,000
guarantee and quality assurance fund receivable																																																	2,064,366,000
due from related party																																																	2,830,000	2,830,000	6,771,000	6,771,000
guarantee and quality assurance fund payable																																																	3,819,379,000
deferred revenue																																																									265,094,000	265,094,000	317,624,000	317,624,000
provision for payment to investor reserve fund investor																																																			24,047,000		107,660,000		107,660,000			107,660,000
due to related party																																																					2,023,000	2,023,000	5,097,000	5,097,000		11,972,000	1,441,000	1,441,000
financial guarantee derivative liabilities																																																										215,770,000
accounts receivable, net of provision for doubtful accounts of rmb nil and rmb123,153 as of december 31, 2017 and 2018, respectively)																																																		812,042,000
loans receivable, net of provision for loan losses of rmb47,670 and rmb240,419 as of december 31, 2017 and 2018, respectively																																																		2,331,108,000
short-term borrowings (including short-term borrowings of the consolidated vie and vie’s subsidiaries without recourse to the company of rmb nil and rmb nil as of december 31, 2017 and 2018, respectively																																																		25,000,000
intangible asset																																																			68,880,000	68,880,000	64,280,000	64,280,000	63,760,000	63,760,000		63,760,000
contract asset																																																			105,551,000	105,551,000	76,013,000	76,013,000	43,660,000	43,660,000
quality assurance fund payable																																																			3,431,338,000	3,431,338,000	3,248,858,000	3,248,858,000	2,280,623,000	2,280,623,000	2,062,844,000	2,062,844,000	1,484,687,000	1,484,687,000
ppdai group inc. shareholders’ deficits
benefit from payment to investor reserve fund investor																																																				24,047,000		107,660,000		107,660,000
available for sale securities																																																					4,935,000	4,935,000	3,250,000	3,250,000
investment in equity investees																																																					12,872,000	12,872,000	12,814,000	12,814,000	8,857,000	8,857,000	56,424,000	56,424,000
total shareholders' equity																																																					4,829,542,000	4,829,542,000	4,260,863,000	4,260,863,000
rmb
loans and receivables, net of allowance for loan losses																																																							656,670,000	656,670,000
other assets																																																							166,251,000	166,251,000
liabilities:
payable to platform users																																																							1,241,020,000	1,241,020,000
financial guarantee derivative																																																							144,239,000	144,239,000			244,659,000	244,659,000
shareholders’ equity:
paid in capital																																																							100,000	100,000
accumulated other comprehensive income/																																																								-26,379,000
available-for-sale securities																																																									3,377,000	3,377,000	1,991,000	1,991,000
loan extended to related party
liabilities, mezzanine equity and shareholders’ deficit:
loans receivable, net of provision for loan losses of rmb1,084 and rmb47,670 as of december 31, 2016 and 2017, respectively																																																										681,794,000
liabilities, mezzanine equity and shareholders’ equity
loans receivable, net of provision for loan losses of rmb1,084 and rmb10,999 as of december 31, 2016 and september 30, 2017, respectively																																																											278,468,000
deferred tax liability																																																											12,595,000	12,595,000
mezzanine equity
series a convertible redeemable preferred shares																																																											1,263,881,000	1,263,881,000
series b convertible redeemable preferred shares																																																											970,889,000	970,889,000
series c convertible redeemable preferred shares																																																											1,141,074,000	1,141,074,000
total mezzanine equity																																																											3,375,844,000	3,375,844,000
shareholders’ deficit:
accumulated other comprehensive loss																																																											25,014,000
total shareholders’ deficit																																																											-1,010,706,000	-1,010,706,000
total liabilities, mezzanine equity and shareholders’ deficit																																																											6,868,458,000	6,868,458,000
loans receivable, net of benefit from loan losses of rmb1,084 and rmb10,999 as of december 31, 2016 and september 30, 2017, respectively																																																												278,468,000
accumulated other comprehensive loss/																																																												25,014,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-06-20	2025-05-21	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-05-16	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-05-18	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-06-01	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-05-25	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-05-28	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-05-15	2019-03-31	2018-12-31	2017-12-31

summary consolidated cash flows data:
net cash from operating activities	522,335,000	863,098,000	-513,708,000	522,335,000	522,335,000		1,315,175,000	612,672,000	770,848,000	194,465,000		1,235,053,000			672,286,000		-57,004,000			-35,152,000		493,390,000	17,377,000	-173,609,000	293,069,000			-459,382,000	1,834,034,000	-583,412,000		-1,731,268,000	897,302,000	143,575,000	474,869,000	474,869,000	758,567,000	1,288,780,000
capital expenditures	0	0	0	-9,927,000	0		0	0	0	0		0			0		0			0		0	0	0	0			0	0	0		0	0	0	0	0	0	0
free cash flows	522,335,000	863,098,000	-513,708,000	512,408,000	522,335,000		1,315,175,000	612,672,000	770,848,000	194,465,000		1,235,053,000			672,286,000		-57,004,000			-35,152,000		493,390,000	17,377,000	-173,609,000	293,069,000			-459,382,000	1,834,034,000	-583,412,000		-1,731,268,000	897,302,000	143,575,000	474,869,000	474,869,000	758,567,000	1,288,780,000
net cash from investing activities	365,196,000	-168,486,000	-1,390,279,000	365,196,000	365,196,000		-400,058,000			925,545,000		822,423,000			1,805,886,000		-272,714,000		3,685,517,000	-1,743,175,000		1,931,818,000			556,661,000		1,217,383,000			-260,475,000	-260,475,000	-857,089,000	882,288,000	-583,471,000	-269,947,000	-269,947,000	-329,760,000	-999,414,000
net cash from financing activities	-198,331,000			-198,331,000	-198,331,000		-368,971,000	226,025,000	-188,621,000	-291,148,000		-2,448,127,000			-886,716,000		-739,610,000			401,228,000										-430,786,000		1,464,435,000	217,645,000	-517,161,000	584,593,000	584,593,000	266,615,000
net increase in cash, cash equivalents and restricted cash	677,935,000			677,935,000
cash, cash equivalents and restricted cash at beginning of year	6,747,072,000
cash, cash equivalents and restricted cash at end of year	7,425,007,000
effect of exchange rate changes on cash and cash equivalents		-25,366,000			-11,265,000	-11,265,000		48,545,000	-13,143,000	-8,204,000	-8,204,000		-76,585,000	91,605,000	-26,403,000	-26,403,000		-14,314,000	34,635,000	-2,096,000	-2,096,000		22,447,000	-27,909,000	9,623,000	9,623,000		-31,923,000	720,000	3,072,000	3,072,000		167,000	31,518,000	-15,180,000	-15,180,000		-15,176,000
net increase in cash, cash equivalent and restricted cash					677,935,000				-933,977,000	820,658,000			1,474,656,000		1,565,053,000			-1,949,290,000	2,335,787,000	-1,379,195,000	-1,379,195,000									-1,271,601,000			1,997,402,000	-925,539,000	774,335,000	774,335,000
cash, cash equivalent and restricted cash at beginning of period		-352,673,000			6,747,072,000	6,747,072,000		-113,319,000	820,658,000	6,769,390,000	6,769,390,000		-827,526,000	1,565,053,000	6,479,087,000	6,479,087,000		956,592,000	-1,379,195,000	8,491,541,000	8,491,541,000		626,843,000	-10,084,000	6,116,401,000	6,116,401,000		298,992,000	-1,271,601,000	6,010,745,000	6,010,745,000		-151,204,000	774,335,000	5,293,721,000	5,293,721,000
cash, cash equivalent and restricted cash at end of period		-464,986,000			7,425,007,000	7,425,007,000		-544,319,000	-113,319,000	7,590,048,000	7,590,048,000		647,130,000	-827,526,000	8,044,140,000	8,044,140,000		-992,698,000	956,592,000	7,112,346,000	7,112,346,000		532,469,000	626,843,000	6,106,317,000	6,106,317,000		-15,651,000	298,992,000	4,739,144,000	4,739,144,000		1,846,198,000	-151,204,000	6,068,056,000	6,068,056,000
net cash provided by/(used in) financing activities						-198,331,000					-291,148,000																				-430,786,000
net (decrease)/increase in cash, cash equivalent and restricted cash
cash flows from operating activities:
net profit				737,641,000																																		541,534,000
adjustments to reconcile net profit to net cash from operating activities:
provision for loans receivable				85,414,000
provision for accounts receivable and contract assets				117,718,000
provision for quality assurance receivable				119,406,000
depreciation and amortization				17,599,000
amortization of right-of-use asset and interest of leasing liabilities				5,236,000
change in fair value of short-term investments				7,453,000
provision for investment				24,906,000
gain or loss from investments				819,000
net gain from investment in loans				-241,614,000
share-based compensation				34,679,000
interest expense on short-term borrowings				200,000
changes in operating assets and liabilities:
accounts receivable and contract assets				-353,474,000
quality assurance receivable				-17,121,000
deferred tax assets				-281,192,000
prepaid expenses and other assets				20,673,000																																		-304,012,000
deferred guarantee income				-134,804,000
liability from quality assurance commitment				31,616,000
payroll and welfare payable				-99,482,000																																		-97,309,000
taxes payable				243,064,000																																		-8,558,000
contract liabilities				-6,603,000
leasing liabilities				-3,323,000
deferred tax liabilities				58,818,000
accrued expenses and other liabilities				154,706,000																																		-99,764,000
cash flows from investing activities:
collection of loans originated and held by the group				3,099,694,000
investment in loans originated and held by the group				-2,545,116,000
proceeds from disposal of investments				10,454,000
purchase of investments				-5,066,000
proceeds from short-term investments				949,457,000
purchase of short-term investments				-1,180,224,000
purchase of property, equipment and software				-9,927,000
net funds paid on behalf of customers				-3,458,000
cash acquired from business combinations, net of cash paid				49,382,000
cash flows from financing activities:
cash received from investors - consolidated trusts				133,000,000
cash paid to investors - consolidated trusts				-374,800,000
net funds held for customers				25,994,000
cash received from short-term borrowings				26,646,000
repayment of short-term borrowings				-5,766,000
repurchase of ordinary shares				-13,669,000
proceeds from exercise of share options				10,264,000
capital injection from non-controlling interest shareholders
effect of exchange rate changes on cash, cash equivalents and restricted cash				-11,265,000
cash, cash equivalents and restricted cash at beginning of period*				6,747,072,000
cash, cash equivalents and restricted cash at end of period				7,425,007,000
supplemental disclosure of cash investing and financing activities
cash paid for interest including interest paid to investors of consolidated trusts				-8,756,000
cash paid for income taxes				-132,146,000
supplemental disclosure of non-cash investing and financing activities
payable for purchase of intangible assets				5,000,000
net cash provided by/(used in) operating activities						522,335,000					194,465,000															293,069,000					-583,412,000
net cash provided by/(used in) investing activities						365,196,000					925,545,000
net increase/(decrease) in cash, cash equivalent and restricted cash						677,935,000					820,658,000																				-1,271,601,000
impairment of intangible assets
proceeds from disposal of a subsidiary
cash paid for business combinations, net of cash acquired
cash paid for dividends
capital (reduction by) injection from non-controlling interest shareholders
payable for purchase of property, equipment and software
payable for repurchase of ordinary shares
receivable from exercise of share options
net increase/ (decrease) in cash, cash equivalent and restricted cash																1,565,053,000
provision for investments
equity pick up of investments
amounts due from related parties
amounts due to related parties
net cash provided by/ (used in) financing activities																-886,716,000					401,228,000
net cash (used in)/provided by operating activities																672,286,000
net cash (used in)/ provided by investing activities																1,805,886,000
amounts due from related party
acquisition of intangible assets
proceeds from exercise of share-based compensation plans
capital injection from non-controlling interest
receivable from exercise of share-based compensation plans
net cash provided by/ (used in) operating activities																					-35,152,000
net cash provided by/ (used in) investing activities																					-1,743,175,000
gain from disposal of investments
financial guarantee derivative assets and discretionary payment
payable to platform customers
quality assurance payable
expected credit losses for quality assurance commitment
investment in convertible loan
cash paid for repurchase of preferential beneficiaries of consolidated trusts
net cash provided (used in) by financing activities
net cash provided used in financing activities																									-869,437,000	-869,437,000
net decrease in cash, cash equivalent and restricted cash																									-10,084,000	-10,084,000
net cash from /(used in) investing activities																										556,661,000
net cash from/( provided by) financing activities
provision for accounts receivable and other receivables
loss from disposal of investments
change in fair value of investments
accounts receivable																																						-37,561,000
contract assets
net cash from (used in) operating activities
proceeds from exercise of share—based compensation plans
net cash used in (provided by) financing activities
net cash frominvesting activities
provision for accounts receivable
change in fair value of short term investments
deferred revenue																																						-215,426,000
amounts due to related party
proceeds from issuance of ordinary shares
net revenues
less: total operating expenses																																			-663,490,000
operating income																																			794,847,000
add: share-based compensation expenses																																			12,122,000
non-gaap adjusted operating income																																			806,969,000
total operating revenue																																			1,458,337,000
less: change in expected discretionary payment to irf investors
provision for loan losses
provision for doubtful accounts
gain from investment in loans
gain from disposal of subsidiary
due to related party																																						-5,103,000
due from related party
short-term loan to related party
cash paid to investors - alternative investment product
cash received from investors - alternative investment product
cash paid for repurchase of the consolidated trusts
cash paid for interest including paid to investors of consolidated trusts
accretion on convertible redeemable preferred shares to redemption value
consideration receivable for disposal of a subsidiary
rmb
profit before income tax
less: other income/(expenses)
add: share based compensation expense
add: expected discretionary payment to irf investors
net increase in cash and cash equivalents																																						1,943,771,000
cash and cash equivalents at beginning of period
cash and cash equivalents at end of period
gain from quality assurance fund																																						-137,181,000
realized gain from financial guarantee derivatives																																						-211,462,000
change in fair value of financial guarantee derivative
expected discretionary payment to irf investors
deferred tax asset
transferred from restricted cash due to maturity of investment program
increase in restricted cash
purchase of equity investments
purchase of available-for-sale securities
proceeds from series c convertible redeemable preferred shares issuance
proceeds from borrowings
repayment of borrowings
proceeds from issuance of ordinary share
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
supplemental disclosure of cash flow information
assets
cash and cash equivalents
restricted cash
short-term investments
quality assurance fund receivable
property, equipment and software
loans receivable, net of provision for loan losses of rmb1,084 and rmb10,999 as of december 31, 2016 and september 30, 2017, respectively
financial guarantee derivative
investment in equity investees
available-for-sale securities
loan extended to related party
total assets
liabilities, mezzanine equity and shareholders’ deficit:
quality assurance fund payable
deferred tax liability
funds payable to investors of consolidated trusts
total liabilities
commitments and contingencies
mezzanine equity
series a convertible redeemable preferred shares
series b convertible redeemable preferred shares
series c convertible redeemable preferred shares
total mezzanine equity
shareholders’ deficit:
ordinary shares
additional paid-in capital
non-controlling interest
statutory reserves
accumulated other comprehensive loss
accumulated deficit
total shareholders’ deficit
total liabilities, mezzanine equity and shareholders’ deficit
operating revenue:
loan facilitation service fees
post-facilitation service fees
other revenue
total operating revenues
net interest income and loan provision losses
operating expenses:
origination and servicing expenses
origination and servicing expenses-related party
sales and marketing expenses
general and administrative expenses
total operating expenses
other income:
fair value change of financial guarantee derivatives
other income
profit before income tax expense
income tax expense
accretion on series a convertible redeemable preferred shares to redemption value
accretion on series b convertible redeemable preferred shares to redemption value
accretion on series c convertible redeemable preferred shares to redemption value
net profit attributable to ordinary shareholders
foreign currency translation adjustment, net of nil tax
comprehensive income
weighted-average number of ordinary shares used in computing net loss per share
basic and diluted
net income per share
net income per ads attributable to ordinary shareholders
net cash generated in financing activities
net increase/(decrease) in cash and cash equivalents

FinVolution Group(NYSE:FINV)

FinVolution Group
(NYSE:FINV)