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Yiren Digital Reports Fourth Quarter and Fiscal Year 2024 Financial Results

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BEIJING, March 20, 2025 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced its unaudited financial results for the quarter ended December 31, 2024.

Fourth Quarter 2024 and Fiscal Year 2024 Operational Highlights

Financial Services Business

Total loans facilitated in the fourth quarter of 2024 reached RMB15.4 billion (US$2.1 billion), representing an increase of 14.6% from RMB13.4 billion in the third quarter of 2024 and compared to RMB11.6 billion in the same period of 2023.Cumulative number of borrowers served reached 12,350,400 as of December 31, 2024, representing an increase of 6.4% from 11,611,899 as of September 30, 2024, and compared to 9,295,666 as of December 31, 2023.Number of borrowers served in the fourth quarter of 2024 was 1,560,789, representing an increase of 4.2% from 1,498,020 in the third quarter of 2024 and compared to 1,371,501 in the same period of 2023. As we successfully enhance our customer segments, the repeat rate of our high-quality borrowers continues to grow. For the fiscal year of 2024, total number of borrowers served was 4,187,502, compared to 2,891,901 in 2023.Outstanding balance of performing loans facilitated reached RMB24.8 billion (US$3.4 billion) as of December 31, 2024, representing an increase of 8.7% from RMB22.8 billion as of September 30, 2024 and compared to RMB18.3 billion as of December 31, 2023.

Insurance Brokerage Business 

Cumulative number of insurance clients served reached 1,532,119 as of December 31, 2024, representing an increase of 4.2% from 1,470,738 as of September 30, 2024, and compared to 1,283,102 as of December 31, 2023.Number of insurance clients served in the fourth quarter of 2024 was 83,786, representing an increase of 1.8% from 82,291 in the third quarter of 2024, and compared to 102,556 in the same period of 2023. Total number of insurance clients served was 296,842 in 2024, compared to 358,278 in 2023. The decrease was due to the decline in new sales of our insurance products amid regulatory changes.Gross written premiums in the fourth quarter of 2024 were RMB1,100.3 million (US$150.7 million), representing a decrease of 18.6% from RMB1,351.3 million in the third quarter of 2024 and compared to RMB1,208.7 million in the same period of 2023. The decrease was attributed to the ongoing impact of regulatory changes and tightening measures. Total gross written premiums were RMB4,424.9 million in 2024, compared to RMB4,893.0 million in 2023.

“We closed out the year on a strong note, delivering another solid quarter of results that were in line with our previous guidance.” said Mr. Ning Tang, Chairman and Chief Executive Officer. 

“2024 marked a milestone for us with several key achievements: First, we upgraded our customer segments in the financial services business, effectively improving asset quality for sustainable growth. Second, we advanced our proprietary AI systems and integrated them across all operations, driving significant improvements in efficiency and user experience. Third, our international business met its phased objectives and achieved profitability, driven by our successful expansion in the Philippines. These successes set the foundation for our long-term, high-quality growth in the coming year.”

“The year 2024 has been a strong one, with solid financial performance, as full-year revenue grew by 19%,” Mr. Yuning Feng, Chief Financial Officer commented. “On the balance sheet side, as of the end of 2024, our cash and cash equivalents remained strong at RMB3.8 billion, highlighting our financial flexibility and positioning us to capitalize on strategic opportunities. Meanwhile, we are pleased to announce a cash dividend distribution for the second half of 2024, amounting to US$0.22 per American depositary share (the”ADS”), an approximately 20% payout ratio, up from 14% for the first half of 2024.”

Fourth Quarter 2024 Financial Results

Total net revenue in the fourth quarter of 2024 was RMB1,452.2 million (US$199.0 million), representing an increase of 14.0% from RMB1,274.3 million in the fourth quarter of 2023. Particularly, in the fourth quarter of 2024, revenue from financial services business was RMB1,047.8 million (US$143.5 million), representing an increase of 34.1% from RMB781.3 million in the same period of 2023. The increase was attributed to the persistent and growing demand for our small revolving loan products. Revenue from insurance brokerage business was RMB106.4 million (US$14.6 million), representing an increase of 8.4% from RMB98.2 million in the fourth quarter of 2023. The increase was driven by a higher-than-expected premium renewal rate. Revenue from consumption and lifestyle business and others was RMB298.0 million (US$40.8 million), representing a decrease of 24.5% from RMB394.8 million in the fourth quarter of 2023. The decrease was mainly due to the already high penetration of our products and services within the existing customer pool, along with our strategic scale-back of product offerings as we upgrade our customer segment. The Company is conducting a strategic review of this segment to better understand its potential and identify the best ways to serve our customers. Based on the findings, we will adjust our approach and offerings to ensure we effectively meet their needs.

Sales and marketing expenses in the fourth quarter of 2024 were RMB298.5 million (US$40.9 million), compared to RMB205.7 million in the same period of 2023. The increase was primarily driven by the swift growth of our financial services segment and enhanced marketing endeavors aimed at attracting new, high-caliber customers while optimizing our customer composition.

Origination, servicing and other operating costs in the fourth quarter of 2024 were RMB197.2 million (US$27.0 million), which remained relatively stable compared to RMB184.7 million in the same period of 2023.

Research and development expenses in the fourth quarter of 2024 were RMB164.7 million (US$22.6 million), compared to RMB47.6 million in the same period of 2023. The increase was mainly attributed to our ongoing investment in AI upgrades and technological innovations.

General and administrative expenses in the fourth quarter of 2024 were RMB42.2 million (US$5.8 million), compared to RMB50.5 million in the same period of 2023. The decrease was primarily due to ongoing investments in technology and AI, which have transformed the company’s personnel composition and improved operational efficiency.

Allowance for contract assets, receivables and others in the fourth quarter of 2024 was RMB203.1 million (US$27.8 million), compared to RMB100.2 million in the same period of 2023. The increase was mainly due to a higher allowance for accounts receivable and financing receivables, reflecting our prudent approach to the heightened uncertainties in future market conditions.

Provision for contingent liabilities in the fourth quarter of 2024 was RMB250.7 million (US$34.3 million), compared to a reversal of RMB1.5 million in the same period of 2023. The increase was mainly attributed to a growing volume of loans facilitated under our risk-taking model[1].

Income tax expense in the fourth quarter of 2024 was RMB10.7 million (US$1.5 million). 

Net income in the fourth quarter of 2024 was RMB331.4 million (US$45.4 million), as compared to RMB571.3 million in the same period in 2023. The decrease was primarily due to the growing loan volume facilitated by our risk-taking model, which required substantial upfront provisions under current accounting principles, as well as increased investment in acquiring new, higher-quality borrowers and developing AI innovation and capabilities.

Adjusted EBITDA[2] (non-GAAP) in the fourth quarter of 2024 was RMB313.9 million (US$43.0 million), compared to RMB684.8 million in the same period of 2023. 

Basic and diluted income per ADS in the fourth quarter of 2024 were RMB3.8 (US$0.5) and RMB3.8 (US$0.5) respectively, compared to a basic income per ADS of RMB6.5 and a diluted income per ADS of RMB6.5 in the same period of 2023. 

Net cash generated from operating activities in the fourth quarter of 2024 was RMB373.0 million (US$51.1 million), compared to RMB417.2 million in the same period of 2023. 

Net cash used in investing activities in the fourth quarter of 2024 was RMB32.9 million (US$4.5 million), compared to RMB260.3 million in the same period of 2023.

Net cash used in financing activities in the fourth quarter of 2024 was RMB114.3 million (US$15.7 million), compared to RMB332.3 million provided by financing activities in the same period of 2023. 

As of December 31, 2024, cash and cash equivalents were RMB3,841.3 million (US$526.3 million), compared to RMB3,705.9 million as of September 30, 2024. As of December 31, 2024, the balance of held-to-maturity investments was RMB6.6 million (US$0.9 million), compared to RMB5.1 million as of September 30, 2024. As of December 31, 2024, the balance of available-for-sale investments was RMB353.2 million (US$48.4 million), compared to RMB321.6 million as of September 30, 2024. As of December 31, 2024, the balance of trading securities was RMB77.4 million (US$10.6 million), compared to RMB63.3 million as of September 30, 2024.

Delinquency rates[3]. As of December 31, 2024, the delinquency rates for loans that are past due for 1-30 days, 31-60 days and 61-90 days were 1.6%, 1.2% and 1.1%, respectively, compared to 1.8%, 1.2% and 1.2%, respectively, as of September 30, 2024. 

Fiscal Year 2024 Financial Results

Total net revenue in 2024 was RMB5,805.9 million (US$795.4 million), compared to RMB4,895.6 million in 2023. Specifically, revenue from financial services business in 2024 was RMB3,473.1 million (US$475.8 million), compared to RMB2,515.1 million in 2023. The increase was driven by the growing demand for our small revolving loan products. Revenue from insurance brokerage business in 2024 was RMB408.4 million (US$55.9 million), compared to RMB963.8 million in 2023. The decrease was due to the ongoing impacts from regulatory changes. Revenue from consumption and lifestyle business and others was RMB1,924.4 million (US$263.6 million), compared to RMB1,416.7 million in 2023. The overall increase was mainly due to the continuous growth of this segment in the first half of the year, followed by a strategic scale-back in the second half.

Sales and marketing expenses in 2024 were RMB1,196.4 million (US$163.9 million), compared to RMB656.6 million in 2023. The increase was primarily due to our efforts to attract new, higher-quality borrowers and the growth of our financial services business volume.

Origination, servicing and other operating costs in 2024 were RMB883.0 million (US$121.0 million), compared to RMB976.2 million in 2023. The decrease was due to the AI-driven improvement of operational efficiency as well as the decline of our insurance product sales.

Research and development expenses in 2024 were RMB411.9 million (US$56.4 million), compared to RMB148.8 million in 2023. The significant increase was driven by our ongoing investment in AI development and the expansion of our technical team.

General and administrative expenses in 2024 were RMB274.7 million (US$37.6 million), which remained relatively stable compared to RMB231.1 million in 2023.

Allowance for contract assets, receivables and others in 2024 was RMB523.6 million (US$71.7 million), compared to RMB261.2 million in 2023. The increase was mainly due to a higher allowance for accounts receivable and financing receivables, reflecting our prudent approach to the heightened uncertainties in future market conditions.

Provision for contingent liabilities in 2024 was RMB869.3 million (US$119.1 million), compared to RMB27.0 million in 2023. The increase was mainly attributed to the growing loan volume facilitated under our risk-taking model where upfront provision is required under current accounting principles.

Income tax expense in 2024 was RMB279.2 million (US$38.2 million).

Net income in 2024 was RMB1,582.3 million (US$216.8 million), compared to RMB2,080.2 million in 2023.

Adjusted EBITDA (non-GAAP) in 2024 was RMB1,781.8 million (US$244.1 million), compared to RMB2,578.5 million in 2023.

Basic and diluted income per ADS in 2024 were RMB18.3 (US$2.5) and RMB18.1 (US$2.5) respectively, compared to a basic per ADS of RMB23.5 and a diluted per ADS of RMB23.3 in 2023.

Net cash generated from operating activities in 2024 was RMB1,424.1 million (US$195.1 million), compared to RMB2,171.0 million in 2023.

[1] The risk-taking model refers to the framework in which the company assumes the credit risk for the loans facilitated on our platform.

[2] “Adjusted EBITDA” is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of “Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures” and the table captioned “Reconciliations of Adjusted EBITDA” set forth at the end of this press release.

[3] “Delinquency rates” refers to the outstanding principal balance of loans that were 1-30 days, 31-60 days and 61-90 days past due as a percentage of the total performing outstanding principal balance of loans as of a specific date. Loans originating outside mainland China are not included in the calculation. We define a performing loan as one that is being repaid according to the agreed terms and has not become delinquent for more than 90 days.

Dividend Policy

Under the Company’s semi-annual dividend policy, the Company will distribute a cash dividend for the second half of 2024, amounting to US$0.22 per American depositary share (the “ADS”), each representing two ordinary shares of the Company, par value US$0.0001 per share. The dividend is expected to be paid on or about May 15, 2025 to holders of the Company’s ordinary shares and ADSs of record as of the close of business on April 30, 2025, based on Hong Kong time and New York time, respectively.

Business Outlook

Based on the Company’s preliminary assessment of business and market conditions, the Company projects the total revenue in the year of 2025 to be between RMB5.5 billion to RMB6.5 billion, with a healthy net profit margin.

This is the Company’s current and preliminary view, which is subject to changes and uncertainties.

Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See “Operating Highlights and Reconciliation of GAAP to Non-GAAP measures” at the end of this press release. 

Currency Conversion

This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.2993 to US$1.00, the effective noon buying rate on December 31, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board.

Conference Call

Yiren Digital’s management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on March 20, 2025 (or 8:00 p.m. Beijing/Hong Kong Time on March 20, 2025).

Participants who wish to join the call should register online in advance of the conference at: https://dpregister.com/sreg/10197602/feaaa46216

Once registration is completed, participants will receive the dial-in details for the conference call.

Additionally, a live and archived webcast of the conference call will be available at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=NaB0pL6P

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yiren Digital’s control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to Yiren Digital’s ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital’s ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in Yiren Digital’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Yiren Digital does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About Yiren Digital

Yiren Digital Ltd. is an advanced, AI-powered platform providing a comprehensive suite of financial and lifestyle services in China. Our mission is to elevate customers’ financial well-being and enhance their quality of life by delivering digital financial services, tailor-made insurance solutions, and premium lifestyle services. We support clients at various growth stages, addressing financing needs arising from consumption and production activities, while aiming to augment the overall well-being and security of individuals, families, and businesses.

 

 

Unaudited Condensed Consolidated Statements of Operations

 (in thousands, except for share, per share and per ADS data, and percentages)

For the Three Months Ended 

For the Year Ended 

December 31,
2023

September 30,
2024

December 31,
2024

December 31,
2024

December 31,
2023

December 31,
2024

December 31,
2024

RMB

RMB

RMB

USD

RMB

RMB

USD

Net revenue:

Loan facilitation services

722,451

600,899

748,663

102,566

2,240,852

2,721,389

372,829

Post-origination services

4,630

1,421

1,474

202

17,203

5,957

816

Insurance brokerage services

98,158

85,530

106,387

14,575

963,822

408,369

55,946

Financing services

8,564

31,448

31,551

4,323

55,974

93,239

12,774

Electronic commerce services

385,886

546,366

292,678

40,097

1,267,104

1,865,621

255,589

Guarantee services

8,590

136,746

206,766

28,327

50,865

429,299

58,814

Others

46,031

76,678

64,674

8,860

299,813

282,027

38,637

Total net revenue

1,274,310

1,479,088

1,452,193

198,950

4,895,633

5,805,901

795,405

Operating costs and expenses:

Sales and marketing

205,730

335,647

298,458

40,889

656,603

1,196,429

163,910

Origination,servicing and other operating costs

184,700

205,913

197,232

27,021

976,172

882,957

120,965

Research and development

47,586

150,840

164,703

22,564

148,754

411,876

56,427

General and administrative

50,512

80,097

42,232

5,786

231,135

274,673

37,629

Allowance for contract assets, receivables and others

100,229

94,913

203,090

27,823

261,152

523,622

71,736

Provision for contingent liabilities

(1,543)

272,406

250,691

34,344

27,035

869,280

119,091

Total operating costs and expenses

587,214

1,139,816

1,156,406

158,427

2,300,851

4,158,837

569,758

Other income/(expenses):

Interest income, net

29,880

21,877

31,219

4,277

80,749

105,477

14,450

Fair value adjustments related to Consolidated ABFE

(13,394)

36,423

16,935

2,320

(50,171)

107,532

14,732

Others, net

8,504

2,535

(1,353)

(186)

20,000

1,848

253

Total other income

24,990

60,835

46,801

6,411

50,578

214,857

29,435

Income before provision for income taxes

712,086

400,107

342,588

46,934

2,645,360

1,861,921

255,082

Share of results of equity investees

–

–

(440)

(60)

–

(440)

(60)

Income tax expense

140,818

44,665

10,702

1,466

565,163

279,182

38,248

Net income

571,268

355,442

331,446

45,408

2,080,197

1,582,299

216,774

Weighted average number of ordinary shares outstanding,

basic

175,445,539

175,018,644

172,723,644

172,723,644

176,749,706

173,256,348

173,256,348

Basic income per share

3.2561

2.0309

1.9189

0.2629

11.7692

9.1327

1.2512

Basic income per ADS

6.5122

4.0618

3.8378

0.5258

23.5384

18.2654

2.5024

Weighted average number of ordinary shares outstanding,

diluted

177,106,305

176,035,324

173,727,886

173,727,886

178,688,319

174,711,569

174,711,569

Diluted income per share

3.2256

2.0192

1.9078

0.2614

11.6415

9.0566

1.2408

Diluted income per ADS

6.4512

4.0384

3.8156

0.5228

23.2830

18.1132

2.4816

Unaudited Condensed Consolidated Cash Flow Data

Net cash generated from operating activities

417,232

50,393

373,038

51,106

2,171,013

1,424,082

195,098

Net cash  (used in)/provided by investing activities

(260,331)

(1,859,587)

(32,948)

(4,514)

100,045

(3,113,115)

(426,495)

Net cash provided by/(used in) financing activities

332,309

(22,227)

(114,341)

(15,665)

(569,278)

(277,226)

(37,980)

Effect of foreign exchange rate changes

(6,414)

(6,252)

15,020

2,058

(3,871)

9,212

1,263

Net increase/(decrease) in cash, cash equivalents and

restricted cash

482,796

(1,837,673)

240,769

32,985

1,697,909

(1,957,047)

(268,114)

Cash, cash equivalents and restricted cash, beginning of

period

5,575,808

5,698,461

3,860,788

528,926

4,360,695

6,058,604

830,025

Cash, cash equivalents and restricted cash, end of period

6,058,604

3,860,788

4,101,557

561,911

6,058,604

4,101,557

561,911

 

 

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)

As of

December 31,
2023

September 30,
2024

December 31,
2024

December 31,
2024

RMB

RMB

RMB

USD

        Cash and cash equivalents

5,791,333

3,705,866

3,841,284

526,254

        Restricted cash

267,271

154,922

260,273

35,657

        Trading securities

76,053

63,276

77,426

10,607

        Accounts receivable

499,027

668,757

566,541

77,616

        Guarantee receivable

2,890

391,547

474,132

64,956

        Contract assets, net

978,051

916,543

1,008,920

138,221

        Contract cost

32

279

294

40

        Prepaid expenses and other assets

423,621

2,291,397

2,361,585

323,536

        Loans at fair value

677,835

414,803

421,922

57,803

        Financing receivables

116,164

28,672

17,515

2,400

        Amounts due from related parties

820,181

3,338,868

3,387,952

464,148

        Held-to-maturity investments

10,420

5,087

6,587

902

        Available-for-sale investments

438,084

321,550

353,190

48,387

        Equity investments

–

7,105

9,239

1,266

        Property, equipment and software, net

79,158

80,224

78,678

10,779

        Deferred tax assets

73,414

54,595

77,463

10,612

        Right-of-use assets

23,382

14,454

39,695

5,438

Total assets

10,276,916

12,457,945

12,982,696

1,778,622

        Accounts payable

30,902

42,712

43,167

5,912

        Amounts due to related parties

14,414

96,498

129,629

17,759

        Guarantee liabilities-stand ready

8,802

449,759

606,886

83,143

        Guarantee liabilities-contingent

28,351

512,004

578,797

79,295

        Deferred revenue

54,044

18,348

9,479

1,299

        Payable to investors at fair value

445,762

350,000

368,022

50,419

        Accrued expenses and other liabilities

1,463,369

1,672,111

1,622,050

222,220

        Deferred tax liabilities

122,075

16,434

41,471

5,682

        Lease liabilities

23,648

15,226

40,765

5,585

Total liabilities

2,191,367

3,173,092

3,440,266

471,314

        Ordinary shares

130

132

132

18

        Additional paid-in capital

5,171,232

5,198,271

5,198,457

712,186

        Treasury stock

(94,851)

(160,534)

(170,463)

(23,353)

        Accumulated other comprehensive

income

23,669

21,226

79,268

10,860

        Retained earnings

2,985,369

4,225,758

4,435,036

607,597

Total equity

8,085,549

9,284,853

9,542,430

1,307,308

Total liabilities and equity

10,276,916

12,457,945

12,982,696

1,778,622

 

 

Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except for number of  borrowers, number of insurance clients, cumulative number of insurance clients and percentages)

For the Three Months Ended 

For the Year Ended 

December 31,
2023

September 30,
2024

December 31,
2024

December 31,
2024

December 31,
2023

December 31,
2024

December 31,
2024

RMB

RMB

RMB

USD

RMB

RMB

USD

Operating Highlights

Amount of loans facilitated 

11,645,528

13,392,676

15,352,533

2,103,288

36,036,301

53,591,593

7,342,018

Number of borrowers

1,371,501

1,498,020

1,560,789

1,560,789

2,891,901

4,187,502

4,187,502

Remaining principal of performing loans 

18,251,550

22,768,555

24,755,199

3,391,448

18,251,550

24,755,199

3,391,448

Cumulative number of insurance clients

1,283,102

1,470,738

1,532,119

1,532,119

1,283,102

1,532,119

1,532,119

Number of insurance clients

102,556

82,291

83,786

83,786

358,278

296,842

296,842

Gross written premiums

1,208,717

1,351,311

1,100,262

150,735

4,893,042

4,424,889

606,207

First year premium

536,252

511,377

475,285

65,114

3,180,334

2,078,190

284,711

Renewal premium

672,465

839,934

624,977

85,621

1,712,708

2,346,699

321,496

Segment Information

Financial services business:

Revenue

781,306

836,193

1,047,768

143,544

2,515,119

3,473,109

475,814

Sales and marketing expenses

186,304

307,459

290,253

39,765

498,055

1,102,737

151,074

Origination, servicing and other operating

costs

77,598

119,706

123,585

16,931

223,468

442,312

60,597

Allowance for contract assets, receivables and

others

99,496

93,248

200,755

27,503

262,607

519,895

71,225

Provision for contingent liabilities

(1,543)

272,406

250,691

34,344

27,035

869,280

119,091

Insurance brokerage business:

Revenue

98,158

85,530

106,387

14,575

963,822

408,369

55,946

Sales and marketing expenses

3,578

3,545

2,333

320

12,887

13,706

1,878

Origination, servicing and other operating

costs

98,019

78,466

69,518

9,524

697,669

407,225

55,790

Allowance for contract assets, receivables and

others

(35)

(414)

241

33

(390)

(663)

(91)

Consumption & lifestyle business and others:

Revenue

394,846

557,365

298,038

40,831

1,416,692

1,924,423

263,645

Sales and marketing expenses

15,848

24,643

5,872

804

145,661

79,986

10,958

Origination, servicing and other operating

costs

9,083

7,741

4,129

566

55,035

33,420

4,578

Allowance for contract assets, receivables and

others

774

1,666

(756)

(104)

(771)

908

124

Reconciliation of Adjusted EBITDA

Net income

571,268

355,442

331,446

45,408

2,080,197

1,582,299

216,774

Interest income, net

(29,880)

(21,877)

(31,219)

(4,277)

(80,749)

(105,477)

(14,450)

Income tax expense

140,818

44,665

10,702

1,466

565,163

279,182

38,248

Depreciation and amortization

1,806

2,401

2,574

353

7,116

8,893

1,218

Share-based compensation

828

13,235

350

48

6,751

16,928

2,319

Adjusted EBITDA

684,840

393,866

313,853

42,998

2,578,478

1,781,825

244,109

Adjusted EBITDA margin

53.7 %

26.6 %

21.6 %

21.6 %

52.7 %

30.7 %

30.7 %

 

 

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 %

December 31, 2024

1.6 %

1.2 %

1.1 %

 

 

30+ Days Delinquency Rates By Vintage*

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 %

5.4 %

2023Q1

0.6 %

2.4 %

4.0 %

5.2 %

5.9 %

6.2 %

6.1 %

6.0 %

5.9 %

5.8 %

5.5 %

2023Q2

0.7 %

3.0 %

4.9 %

6.3 %

7.0 %

7.3 %

7.2 %

7.0 %

6.9 %

6.5 %

2023Q3

0.9 %

3.7 %

5.8 %

7.1 %

7.9 %

8.1 %

8.0 %

7.9 %

2023Q4

0.8 %

3.6 %

5.8 %

7.0 %

7.6 %

7.8 %

7.7 %

2024Q1

0.7 %

3.2 %

5.0 %

6.1 %

6.9 %

2024Q2

0.6 %

2.5 %

4.2 %

5.5 %

2024Q3

0.6 %

2.3 %

2024Q4

0.6 %

*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.

 

 

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Jadavpur University Alumni National Conference in Mumbai focused on the key issues influencing India’s growth trajectory leading up to 2030

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26 minutes ago

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March 26, 2025

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MUMBAI, India, March 26, 2025 /PRNewswire/ — The Alumni Association of N.C.E Bengal and the Jadavpur University Mumbai Chapter hosted its 16th National Conference on March 22, 2025, in Mumbai. The event featured a distinguished lineup of speakers and a series of insightful technical sessions, attracting prominent figures from the fields of Business, Academics and Policymaking. Over 150 participants attended the National Conference, hailing from various cities across India and abroad. Among the attendees were industry leaders, business professionals, educationists and Jadavpur University alumni.

The day-long conference, titled ‘India @ 2030: Energy, Economy, Employment,’ examined India’s preparedness to achieve sustainable growth and explored the transformative actions required to realise the nation’s Vision of Viksit Bharat (Developed India) by 2047. The day’s proceedings commenced with the traditional lamp lighting ceremony, led by Prof. Amitava Datta, Pro-Vice-Chancellor of Jadavpur University; Debashis Chatterjee, CEO & Managing Director of LTIMindtree; and Pankaj Kumar, Director of Production at ONGC Ltd.

Commenting on the National Conference, Prof. Amitava Datta said, “Alumni are the brand ambassadors of an institute and are one of its most important stakeholders. It was a wonderful experience for me to attend the national seminar arranged by the Mumbai branch of the Alumni Association of N.C.E Bengal and Jadavpur University on 22nd March. The Conference covered thought-provoking discussions and stimulating interactions on Energy, Economy, and Employment—three key pillars on which our country aspires to move forward in its path of development. It is also a privilege for me to get the opportunity to present the current state of our alma mater before alumni. I believe the bonding between the alumni members and the University will grow further in the coming years.”

Amitava Mukhopadhyay, former Executive Director of Hindustan Petroleum Corporation Limited and an alumnus of Jadavpur University, chaired the panel titled ‘Energy – Challenges and Opportunities.’ The panel featured a distinguished lineup of experts, including Dipak Bharuka, CEO of JNK India; Suparna Singh, Head of Corporate Strategy (Special Projects) at L&T; and Soumyasree Chakraborty, Senior Principal at BCG. The session concluded with an engaging, interactive Q&A, where the panellists shared valuable insights into India’s energy transition and offered their perspectives on the country’s future trajectory in this critical domain.

“India’s energy transition is at the heart of our journey toward sustainable growth and economic resilience. As we shift from fossil fuels to renewable energy, embrace electric vehicles and green hydrogen, and evolve our hydrocarbon sector towards chemicals and petrochemicals, we must also focus on moving towards a circular economy. The challenges are significant, from diversifying energy sources to overcoming financial barriers, but the opportunity for innovation is immense. By tackling these issues head-on, India can not only meet its climate commitments post-COP-26 but also lead the way in building a cleaner, more sustainable future for generations to come,” Mukhopadhyay said.

Senior journalist, author, and former Jadavpur University alumnus Rajrishi Singhal chaired a thought-provoking panel on the Economy, featuring Anagha Deodhar, Senior Economist at ICICI Bank India, and Indranil Chakraborty, Chief General Manager at the Reserve Bank of India (RBI).

The final panel of the day, chaired by Aparup Sengupta, Founder and Chairman of Aaj Global Group, focused on the critical issue of Employment. The panel included Prof. Alakh Sharma, Director of the Institute for Human Development (New Delhi); Sujatha Shivsankar, Associate Partner (HR Transformation) at KPMG India; and Prachi Choudhary, Director of People Consulting at EY.

Subhojit Bose, an alumnus of Jadavpur University, was pivotal in the success of the conference as the Convener of the Marketing Sub-committee. “I would like to extend my heartfelt congratulations to the Conference Management Committee for organizing a national conference on such a highly relevant topic. It was a valuable learning experience for all participants, especially our young alumni, who had the opportunity to hear from esteemed dignitaries across various fields, sharing their insights and expertise. A special thank you goes to our generous donors. This conference would not have been possible without their unwavering support, and we are deeply grateful for their contributions,” Bose added.

In conjunction with the National Conference, the Mumbai Alumni also organised an Employee Connect, providing alumni with the opportunity to interact with prospective employers seeking talented professionals across various fields and roles at different levels. Boyen Haddin, a globally renowned Executive Search conglomeration, joined this year’s National Conference as the Employee Connect partner.

Prinkal Shah, Director at Boyen Haddin (Mumbai), said, “The National Conference of Jadavpur University Mumbai Alumni Association provided an invaluable platform for our team to engage with leading industry professionals, academicians, policymakers, and aspiring professionals. One of the key highlights was the Employment module, where experts deliberated on the evolving landscape of human resources amid rapid technological disruptions. The discussions underscored the critical need for skilling and reskilling to meet the demands of the future workforce, offering significant insights into talent acquisition and employability trends. Events like these foster meaningful dialogue and collaboration, reinforcing our commitment to bridging the talent gap and supporting India’s progress.”

Alumni Association of N.C.E Bengal & Jadavpur University (Mumbai):

The Mumbai Branch of the Alumni Association of N.C.E Bengal and Jadavpur University was established in 1956 to provide an umbrella under which alumni could meet, interact, and socialise. In the years that followed, the objective was expanded to include knowledge sharing and charitable activities to benefit society as a whole. More than 350 active members in the Mumbai branch are connected to various core and knowledge-based industries, professional organisations, and Government agencies.

Jadavpur University, Kolkata is one of India’s most prestigious public research institutions. It is renowned for its academic excellence, progressive ethos, and commitment to intellectual freedom. Established in 1955, the University traces its origins to the National Council of Education (NCE), which was founded in 1906 as part of India’s Swadeshi movement to promote indigenous education. Over the decades, it has evolved into a globally recognised centre for higher learning, research, and innovation, consistently ranking among the country’s top universities.

In 1921, former students of the university initiated a movement to establish the National Council of Education Alumni Association (NCE Alumni Association). When the university moved to its present campus in 1924, the NCE Alumni Association moved along with that. The Association celebrated its 100th anniversary in 2021, marking an important milestone for its alumni around the globe.

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YOLO247 Launches 60-Day Leaderboard Challenge During IPL Season

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March 26, 2025

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HYDERABAD, India, March 26, 2025 /PRNewswire/ — YOLO247, one of India’s leading online gaming platforms operated by Bright Win Limited, has rolled out a 60-day leaderboard challenge coinciding with the ongoing IPL season. The initiative introduces a structured daily and weekly leaderboard system aimed at engaging users through consistent gameplay across a wide range of games available on the platform.

The promotion, which is now live, encourages participation from players across India, with rankings updated in real-time. The leaderboard challenge is structured to recognize and reward user engagement, offering incentives to top performers throughout the event duration.

Participants can enter by playing any of the eligible games on the platform, including Aviator, American Roulette, Plinko, Mines, and other popular titles. Leaderboard standings are determined based on gameplay activity, allowing users to track their performance and progression live.

Daily Leaderboard Overview:

Runs every 24 hoursCovers all games on the platformReal-time trackingRewards credited the next day

Weekly Leaderboard Overview:

Consolidated scores from daily activityHighlights consistent performance over timeAdditional rewards for top weekly rankings

This initiative reflects YOLO247’s continued efforts to deliver engaging and rewarding experiences for their community. By aligning the promotion with the IPL, they aim to enhance user involvement through a season that’s already synonymous with excitement and competition.

With no additional wagering requirements attached to leaderboard winnings, the challenge is positioned to appeal to both casual participants and seasoned players, reinforcing YOLO247’s commitment to accessible, transparent, and responsible gaming.

About YOLO247

YOLO247, operated by Bright Win Limited, is a comprehensive online gaming platform catering to a broad user base across India. The platform features a diverse portfolio that includes casino games, sports betting, virtual sports, and traditional card games. With a focus on innovation, security, and responsible play, YOLO247 offers a seamless and engaging user experience around the clock.

Media Contact:

Website: https://bit.ly/yolo247-official-site
FB: https://www.facebook.com/yolo247in
IG: https://www.instagram.com/yolo247_in
X: https://x.com/Yolo247Official

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Apollo TV Warns Customers About Fake Clone Sites and Unauthorized Sellers in 2025

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26 minutes ago

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March 26, 2025

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NEW YORK  , March 26, 2025 /PRNewswire/ —  Apollo TV, a well-known name in the IPTV streaming space, has issued a formal warning to consumers following a rise in fraudulent websites, unauthorized resellers, and imitation platforms that falsely claim to be affiliated with the brand. As digital piracy and IPTV impersonation schemes continue to evolve, the official Apollo TV company is urging customers to exercise heightened caution when purchasing subscriptions or accessing service portals.

Over the last several weeks, Apollo TV’s monitoring team has identified a growing number of clone websites—designed to closely mimic the brand’s official channels—offering misleading pricing, expired promotional codes, and fake checkout experiences that ultimately leave buyers with no service or support. The announcement, made on March 24, 2025, comes amid a broader investigation into third-party resellers operating outside Apollo TV’s verified partner network.

Clone Sites Impersonating Apollo TV Are Flooding the Market

According to company data, these fraudulent sites have emerged under names deceptively similar to Apollo TV’s original domain. These websites often feature graphics stolen from the official brand, false login portals, or subscription bundles that do not exist.

The company clarified that no resellers or alternate domains are authorized to collect payments, deliver logins, or offer discounts on its behalf. Many fake versions claim unrealistic plans or app store compatibility—services that are not part of Apollo TV’s official offerings in 2025.

Apollo TV Clarifies Official Payment Policy to Prevent Fraud

As of 2025, the official Apollo TV platform accepts Bitcoin exclusively for all subscription purchases. This policy has been clearly outlined across verified checkout channels to ensure a consistent and secure transaction process for customers worldwide. The company stresses that any third-party website or service claiming to offer Apollo TV with credit card, PayPal, or other payment options is not an authorized distributor. In many of these cases, consumers report paying for a subscription and receiving nothing in return—no access credentials, no support, and no refund. To avoid these scams, customers are urged to double-check that they are on the official Apollo TV website before completing any transaction.

Apollo TV Clarifies Official Payment Policy to Prevent Fraud

As part of its 2025 compliance structure, Apollo TV has confirmed that it only accepts Bitcoin as the official payment method for all subscription plans. The use of cryptocurrency allows for secure, encrypted transactions across its global user base while minimizing risks associated with fraud and chargebacks.

Any website claiming to accept credit cards, PayPal, or bank transfers on behalf of Apollo TV should be treated as unauthorized. Numerous victims have reported sending payments via non-approved methods only to receive no product, support, or refund. To ensure safe and verified transactions, customers should complete their orders exclusively through the official Apollo TV payment gateway.

Consumer Reports Highlight Confusion and Lost Payments

Apollo TV’s customer support division has received a sharp increase in support tickets from individuals who mistakenly purchased subscriptions through unauthorized platforms. Most common complaints include non-delivery of login credentials, broken playback functionality, and no access to customer service once payment is processed.

In many cases, buyers have turned to public forums and social platforms to voice concerns after realizing they were misled.

Apollo TV Responds With Legal Action and Cybersecurity Partnerships

In response to the growing threat of brand impersonation, Apollo TV has initiated formal takedown requests against multiple domains misusing its intellectual property. As of March 21, 2025, several clone websites were removed following DMCA actions and reports submitted through hosting providers.

The company is also working with a third-party cybersecurity firm to monitor new domain registrations and IP traffic patterns that may indicate future impersonation attempts.

Where to Safely Purchase the Real Apollo TV

For uninterrupted access and official subscription support, customers should purchase directly through the verified Apollo TV portal. The brand does not advertise through affiliate pages, paid influencers, or external IPTV forums. Any offers that do not originate from the main site should be considered unauthorized.

The official portal provides full onboarding instructions, technical support access, and a secure payment experience that mirrors the terms outlined by Apollo TV’s policy team.

Support for Victims of Unauthorized Sellers

Apollo TV is currently collecting reports from users who may have unknowingly purchased fake services. Affected individuals are encouraged to submit details—such as screenshots, domain URLs, or transaction IDs—through the Apollo TV recovery request page. While refunds cannot be processed for purchases made through fraudulent sites, this data helps fuel active investigations and prevent future scams.

As of March 2025, the company has received over 130 individual reports involving more than a dozen fake IPTV sites.

Ongoing Commitment to Transparency and Consumer Safety

With increasing impersonation across the IPTV sector, Apollo TV is doubling down on its commitment to direct-to-consumer integrity, retail protection, and continuous monitoring. The brand advises all new and returning customers to bookmark the official Apollo TV homepage and to avoid engaging with social DMs, clone apps, or unauthorized discount pages.

The company has reiterated that any changes to policy, pricing, or service access will be communicated directly on its official domain—now the only trusted source for real-time updates, technical help, and safe IPTV access.

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