SHENZHEN, China, March 20, 2025 /PRNewswire/ — X Financial, a China-based pioneer in the fintech sector, today released its unaudited financial results for the fourth quarter and the full year ending December 31, 2024.

According to the released financials, the company’s outstanding loan balance reached 52.327 billion yuan as of year-end. Total net revenue for the year was reported at 5.8718 billion yuan, with a net profit of 1.5399 billion yuan for fiscal 2024.

Mr Kent Li, President of X Financial, said, “We are very pleased to conclude the year with outstanding operational and financial results for the fourth quarter. Our relentless efforts to enhance asset quality, coupled with a favorable macroeconomic environment, drove significant revenue and profit growth. As we move into 2025, we remain optimistic about our business prospects and plans to capitalize on the growth opportunities in this favorable market environment to accelerate growth and enhance shareholder returns. Looking ahead, we will continue to leverage artificial intelligence to further strengthen our technological capabilities, optimize operational efficiencies, and enhance service quality.”

Advancing Five Key Financial Strategies to Enhance Service to the Real Economy

In 2024, the Central Financial Work Conference highlighted the crucial role of finance as the lifeblood of the Chinese economy and advocated for the effective implementation of five key financial initiatives. Following the introduction of policies designed to stabilize the economy and stimulate consumer spending, market dynamics have improved significantly. X Financial remains committed to its core mission of driving financial innovation and maintaining a customer-first approach. The company continues to deliver superior financial services to the real economy while effectively implementing the strategic initiatives through its ‘Small Win Practice’, achieving commendable market performance.

In 2024, X Financial introduced the Small Business Assistance Program to further support self-employed individuals, small and micro-enterprise owners, and rural entrepreneurs. Data shows that from January 2020 to the end of December 2024, X Financial has delivered over 8 million services to small and micro-entrepreneurs and self-employed individuals across 31 provinces, autonomous regions, and municipalities nationwide.

The financial report reveals that in the fourth quarter of 2024, X Financial facilitated and issued loans amounting to 32.297 billion yuan. For the full year, the total loan volume reached 104.889 billion yuan.

Mr Frank Fuya Zheng, Chief Financial Officer of X Financial, commented, “We are delighted to report strong financial performance for the fourth quarter, and our balance sheet remains solid. In 2024, we allocated approx. US$76 million for share repurchases and dividends, highlighting our commitment to creating value for our shareholders and maintaining financial flexibility to support future growth. In 2025, we will continue to enhance shareholder value through share repurchases and dividends, while executing our effective strategy to drive long-term growth and value creation.”

Technological Advancements Shape a Better Future for Small and Micro Enterprises

In 2024, advancements in AI are poised to revolutionize the industry, transitioning the financial sector from being ‘data-driven’ to ‘intelligence-driven.’ X Financial is committed to continually advancing its technology while staying true to its original mission of ‘technology for good.’ The company’s proprietary WinSAFE smart system directly addresses market needs and utilizes AI technology to foster growth within the real economy.

The WinSAFE system is the backbone of X Financial, connecting various business segments to enhance operational efficiency. In marketing, it boosts customer acquisition efficiency. For risk management, it supports the growth of small and micro enterprises by adapting to diverse scenarios. In customer service, it links to an intelligent platform that significantly enhances service delivery, protects consumer rights, and delivers a positive user experience. With its advanced digital capabilities for precision operations, the WinSAFE system serves as a vital bridge connecting the real economy with financial institutions, providing efficient and convenient technological solutions to both financial entities and consumers.

X Financial has effectively harnessed AI technology to create a robust 360-degree security barrier, ensuring the protection of information and data integrity. This effort led to the development of the WinPROT protection system, which includes five critical functions: fraud prevention, enhanced data security, efficient customer service, empowerment through innovative technology, and consumer protection education. Our comprehensive strategy provides complete safeguarding of application systems and data at all stages. The WinPROT system offers full-process, multi-point alerts and employs intelligent mechanisms to intercept potential fraudulent activities, ensuring our services remain secure and reliable for all users and partners.

X Financial is committed to further leveraging AI to advance its capabilities systematically across three key areas: business processes, user services, and risk management. The initiative is part of a strategy to drive the evolution of ‘AI + Fintech,’ delivering solutions that are smarter, more efficient and more convenient. By employing AI models such as DeepSeek, Tongyi Qianwen and Doubao, the company is optimizing operational efficiency by strengthening its technical capabilities in intelligent customer service, precision marketing, and fraud detection.  

Expanding Global Impact: X Financial’s Commitment to Philanthropy

From the outset, X Financial has embraced social responsibility as a cornerstone of the growth strategy. In 2018, the company established the X Public Welfare Foundation, driven by the corporate philosophy of ‘Small Wins, Great Goodness.’ The foundation focuses on enhancing elementary education in rural areas, notably in Xunwu County, Ganzhou City, Jiangxi Province. It has significantly improved educational resources and methodologies in these communities. The recent inauguration of the library at Chengjiang Central Primary School marks a milestone in empowering rural students to realize their potential. Simultaneously, the X Foundation has expanded its reach across borders, transforming the power of “Small Wins, Great Goodness” into a significant force. In line with the ‘Belt and Road’ initiative, the foundation has brought its extensive experience and resources in public welfare education to the African continent.

In August 2024, the X Foundation participated in the nongovernmental philanthropy exchange forum between China and Africa. As part of this collaboration, the foundation funded extensive renovations at three schools in Masare, Kenya. The project focused on the construction of enhanced educational facilities, including classrooms and libraries, using durable reinforced concrete frame structures. The improvements enhanced the safety and aesthetic appeal of the schools, significantly improving the learning environment for children and ensuring their right to equal education.

In 2024, as X Financial celebrated its tenth anniversary, the company stayed true to its original mission, guided by macroeconomic policies. The year was highlighted by solid and steady performance, with a strong focus on compliance, technological advancement, and the small and micro-business sectors. Looking ahead to 2025, X Financial is optimistic that favorable macroeconomic policies will continue to support the growth of private companies and the broader real economy. With this new phase, the company is dedicated to advancing the integration of ‘AI + Fintech,’ fully leveraging its growth potential. X Financial is also committed to the effective implementation of the five key financial initiatives and expanding ongoing collaborations to further enhance the real economy.

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SOURCE X Financial