PPDAI Group Inc. Reports First Quarter 2019 Unaudited Financial Results.

SHANGHAI: PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced its unaudited financial results for the first quarter ended March 31, 2019.

As of

March 31, 2018

December 31, 2018

March 31, 2019

Cumulative registered users[1] ('000)

71,424

88,930

93,864

Cumulative number of borrowers[2] ('000)

11,282

14,440

15,433

Cumulative number of individual investors[3]

581,977

667,738

689,688

For Three Months Ended

YoY Change

March 31, 2018

March 31, 2019

Number of unique borrowers[4] ('000)

2,501

3,246

29.8%

Loan origination volume[5]

(RMB, million)

12,349

19,080

54.5%

Repeat borrowing rate[6] (%)

78.7%

75.3%

-4.3%

Average loan size[7] (RMB)

3,066

3,387

10.5%

First Quarter 2019 Financial and Operational Highlights

Net profit increased by 60.7% to RMB703.1 million (US$104.8 million) in the first quarter of 2019 from RMB437.6 million in the first quarter of 2018.

Operating revenues[8] increased by 52.6% to RMB1,458.3 million (US$217.3 million) in the first quarter of 2019, from RMB955.4 million in the same period of 2018.

Loan facilitation service fees increased by 51.2% to RMB938.6 million (US$139.9 million) in the first quarter of 2019, from RMB620.8 million in the same period of 2018.

Operating income was RMB794.8 million (US$118.4 million) for the first quarter of 2019, representing an increase of 98.7% from RMB400.1 million in the same period of 2018.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB807.0 million (US$120.2million) for the first quarter of 2019, representing an increase of 94.6% from RMB414.7 million in the same period of 2018.

Cumulative registered users[1] reached approximately 93.9 million as of March 31, 2019.

Cumulative number of borrowers[2] reached 15.4 million as of March 31, 2019.

Cumulative number of individual investors[3] reached 689,688 as of March 31, 2019.

Number of unique borrowers[4] was approximately 3.3 million for the first quarter of 2019, representing an increase of 29.8% from the same period of 2018.

Loan origination volume[5] was RMB19.1 billion for the first quarter of 2019, representing an increase of 54.5% from the same period of 2018.

The proportion of total loan origination volume funded by institutional funding partners was 30.9% for the first quarter of 2019.

Average loan tenure[9] was 9.6 months for the first quarter of 2019.

[1] On a cumulative basis, number of users registered on PPDAI platform as of March 31, 2019.

[2] On a cumulative basis, number...