FinVolution Group Reports 1st Quarter 2023 Unaudited Financial Results.

SHANGHAI: FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced its unaudited financial results for the first quarter ended March 31, 2023.

For the Three Months Ended / As of

YoY

Change

March 31, 2022

March 31, 2023

Total Transaction Volume (RMB in billion)[1]

39.7

43.4

9.3 %

Transaction Volume (China's Mainland)

38.8

41.8

7.7 %

Transaction Volume (International)[2]

0.86

1.57

82.6 %

Total Outstanding Loan Balance (RMB in billion)

53.8

62.3

15.8 %

Outstanding Loan Balance (China's Mainland)[3]

53.4

61.3

14.8 %

Outstanding Loan Balance (International)[4]

0.36

0.95

163.9 %

First Quarter 2023 China Market Operational Highlights

Cumulative registered users[5] reached 146.6 million as of March 31, 2023, an increase of 8.4% compared to March 31, 2022.

Cumulative borrowers for the China market reached 24.0 million as of March 31, 2023, an increase of 6.7% compared to March 31, 2022.

Number of unique borrowers[6] for the first quarter of 2023 was 2.2 million, a decrease of 14.2% compared to the same period of 2022.

Transaction volume reached RMB41.8 billion for the first quarter of 2023, an increase of 7.7% compared to the same period of 2022.

Transaction volume facilitated for repeat individual borrowers[8] for the first quarter of 2023 was RMB37.1 billion, an increase of 13.8% compared to the same period of 2022.

Outstanding loan balance reached RMB61.3 billion as of March 31, 2023, an increase of 14.8% compared to March 31, 2022.

90 day+ delinquency ratio[9] was 1.72% as of March 31, 2023, compared to 1.64% as of March 31, 2022.

First Quarter 2023 International Market Operational Highlights

Cumulative registered users[5] reached 17.9 million as of March 31, 2023, an increase of 77.2% compared to March 31, 2022.

Cumulative borrowers for the international market reached 3.7 million as of March 31, 2023, an increase of 48.0% compared to March 31, 2022.

Number of unique borrowers[6] for the first quarter of 2023 was 0.74 million, an increase of 23.3% compared to the same period of 2022.

Number of new borrowers[7] for the first quarter of 2023 was 0.31 million, an increase of 34.8% compared to the same period of 2022.

Transaction volume reached RMB1.57 billion for the first quarter of 2023, an increase of 82.6% compared to the same period of 2022.

Proportion of transaction volume in the Indonesia market funded by local financial institutions has increased to 63.9% in the first quarter of 2023 from 14.6% in the same period last year.

Outstanding loan balance reached RMB0.95 billion as of March 31, 2023, an increase of 163.9% compared to March 31, 2022.

International business revenue was RMB447.7 million (US$65.2 million) for the first quarter of 2023, an increase of 165.8% compared to the same period of 2022, representing 14.7% of total revenue in the first quarter of 2023.

First Quarter 2023 Financial Highlights

Net revenue was RMB3,050.6 million (US$444.2 million) in the first quarter of 2023, an increase of 24.7% from RMB2,446.8 million in the same period of 2022.

Net profit was RMB689.8 million (US$100.4 million) in the first quarter of 2023, an increase of 29.1% from RMB534.3 million in the same period of 2022.

Non-GAAP adjusted operating income,[10] which excludes share-based compensation expenses before tax, was RMB762.6 million (US$111.0 million) in the...