Written by | Huohua
Source | Beido Finance
Only one-third remain in 2022, and many financial technology companies listed on the US stock market have successively disclosed their second quarter financial data.
At present, seven companies including Lufax Holdings, Lexin, 360 Digital Technology, Xinye Technology, Xiaoying Technology, Jianpu Technology (under Rong360) and Jiayin Jinke have all produced the "midterm exam" transcripts, and the result is also "some people are happy and some are worried."
Under the weak recovery pattern, financial technology listed companies have maintained a growth trend overall, but there have also been significant differentiation.
"Score" overall growth
Under pressure, looking at the second quarter financial reports of each company, it feels like fate is intertwined.
Judging from the total revenue in the second quarter, Lufax Holdings is still ranked first among a number of financial technology listed companies. In the second quarter of 2022, Lufax Holdings achieved 15.288 billion yuan, and 360 Digital Technology ranked second with revenue of 4.183 billion yuan. As a Tanhua Xinye Technology's revenue was 2.666 billion yuan, and Lexin, which followed closely behind, was 2.413 billion yuan.
In comparison, Xiaoying Technology achieved revenue of 824 million yuan in the second quarter of 2022, while Jiayin Jinke and Rong360|Jianpu Technology were 812 million yuan and 265 million yuan respectively. Among them, the year-on-year revenue growth rates of Jiayin Jinke and Rong360|Jianpu Technology were 64.9% and 33.9% respectively, both maintaining a high-speed growth trend.
In terms of money-making ability, Lufax Holdings also maintained a significant lead, achieving a net profit of 2.909 billion yuan in the second quarter of 2022. Throughout the first half of 2022, Lufax Holdings achieved a net profit of 8.226 billion yuan, and its total revenue increased by 8.4% year-on-year to 32.604 billion yuan.
In the second quarter of 2022, 360 Digital Technology's net profit was 975 million yuan, a slight decrease year-on-year, but it is still at the forefront. During the same period, Jiayin Jinke achieved a net profit of 254 million yuan, ranking third. Secondly, the net profits of Jiayin Jinke and Xiaoying Technology were 254 million yuan and 185 million yuan respectively. Wu Haisheng, CEO and Director of Digital Technology, commented, "Despite the very severe macro environment and the long-term lockdown and travel restrictions taken by Shanghai and other regions in China to cope with the spread of the new crown pneumonia epidemic, we have once again successfully achieved solid quarterly results, during which we achieved key operational and financial goals." Zheng Fuya, chief financial officer of Xiaoying Technology, said: "We continue to follow the guidance of the government and follow the guidance of the government. Reduced the total borrowing costs of borrowers, and revenue decreased slightly from the previous quarter, but our profits increased compared with the previous quarter. The adjusted net profit of non-US GAAP in this quarter was RMB 210.7 million, a month-on-month increase of 36.9%. "
In terms of growth rate, Jiayin Jinke is the only "top student" who maintained a significant increase, with revenue and net profit in the second quarter of 2022 increasing by 64.9% and 100.2% year-on-year respectively. But compared with earlier, Jiayin Jinke's revenue growth rate has also declined. It is understood that Jiayin Jinke's revenue growth rate in the second quarter of 2021 was 100.9%.
According to Beido Finance, Jiayin Jinke's "excellent achievements" are mainly due to its promotion of the expansion of loan scale, while the doubling of net profit scale is mainly attributed to its cost and expense control. In the second quarter of 2022, Jiayin Jinke's gross profit margin was 84.19%, compared with 83.09% in the same period in 2021.
Founder, Director and CEO of Jiayin Jinke said, "Thanks to our continuous efforts to improve our risk management capabilities, optimize the borrower base and expand the cooperation network of licensed institutions. Looking forward to the future, we believe that our highly automated platform, diversified funding sources and global business will give us a good position in seizing emerging market opportunities."
"capacity" each has its own advantages
Faced with the complex market situation, many financial technology listed companies have achieved steady and high-quality development momentum, showing a certain degree of business resilience.
Take Lufax Holdings as an example. As of the end of June 2022, Lufax Holdings' retail loan balance increased by 9.0% year-on-year to RMB 661.4 billion; the cumulative number of borrowers increased by 17.3% year-on-year to about 18.2 million; the total assets of wealth management platform customers increased by 2.6% year-on-year to RMB 431.9 billion, and the 12-month retention rate of investors reached 94.7%.
As of the end of the second quarter of 2022, 360 Digital Technology connected a total of 133 financial institutions and 197.9 million users; provided loan convenience to 25.6 million users, an increase of 14.8% year-on-year. The borrower's re-borrowing rate is 88.4%. In terms of business scale, the second quarter resulted in loans of 98.28 billion yuan, an increase of 11.1% year-on-year.
In comparison, Xinye Technology contributed to loans of 41.5 billion yuan in the second quarter of 2022, an increase of 24.3% year-on-year, achieving growth for nine consecutive quarters; the loan balance was 56.4 billion yuan, an increase of 43.9% year-on-year. As of the end of June 2022, Xinye Technology has reached nearly 70 licensed financial institutions, with a total of 149 million registered users.
It is understood that Lexin’s business scale cannot be underestimated. In the second quarter of 2022, Lexin contributed to loans of 49.1 billion yuan, an increase of 13.9% month-on-month; the loan balance was 86.6 billion yuan, an increase of 3.3% month-on-month. As of the end of the second quarter, Lexin's number of users reached 178 million, a year-on-year increase of 23.5%, maintaining a year-on-year double-digit growth rate for 12 consecutive quarters; the number of credited users reached 38.87 million, a year-on-year increase of 18%.
Xiaoying Technology also performed well. Financial report data shows that the total amount of loans matched and provided by Xiaoying Technology in the second quarter of 2022 was RMB 16.879 billion; the loan balance as of the end of the period was RMB 29.075 billion; as of the end of June 2022, the cumulative number of active borrowers in history was 9 million; the cumulative number of registered users in history reached 74.4 million. Li Kan, president of
Xiaoying Technology, said, "This quarter, the number of active borrowers increased by 28.2% year-on-year and month-on-month, reaching a high level of more than 1 million in the quarter. We are very pleased to see that our products and services have been well received by a wide and growing user base. This proves our trustworthiness and lays a solid foundation for our future development." What is different from the aforementioned financial technology is that Jianpu Technology has made great achievements in serving the digital transformation of financial institutions. In the second quarter of 2022, the number of domestic recommended service loan applications and credit cards of Jianpu Technology were 1.2 million and 4.3 million respectively, an increase of 33.3% and 43.3% compared with the same period in 2021.
As of now, Jianpu Technology has established cooperation with more than 1,500 financial institutions and other customers to provide marketing customer acquisition, data analysis, operation and risk management solutions in the credit product supply industry chain of individual consumers and small and medium-sized enterprises, helping financial institutions to transform digitally.
In addition, Jiayin Jinke also hit a new high. In the second quarter of 2022, Jiayin Jinke's loan scale was 13.5 billion yuan, a year-on-year increase of 138.4%; the average loan amount was 8,939 yuan, a year-on-year increase of 49.4%; the interest rate of duplicate loan was 67.8%, while the interest rate of duplicate loans in the same period of 2021 was 72.4%.
It can be seen from this that although everyone has different sizes in the company, based on size and strength, they are all "a vast world that has great potential."
makes efforts to "small and micro" and "technology"
In the first quarter of 2022, the People's Bank of China and the China Banking and Insurance Regulatory Commission issued the "Notice on Strengthening Financial Services for New Citizens", which proposed a new strategic direction for deepening inclusive finance and promoting the steady economic development. As a result, focusing on "new citizens" and developing "small and micro" credit has become a consensus among many financial technology companies.
In the financial report released this time, each company focused on entries such as "small and micro" and "new citizens", emphasizing the importance of deep cultivation, and regards this track as an important part of future development.
According to reports, during the epidemic in Shanghai this year, Ping An Puhui Shanghai Branch, a subsidiary of Lufax Holdings, has helped 14,400 small and micro business owners in Shanghai to obtain a total of 5.65 billion yuan in financing. According to the financial report, Lufax Holdings added RMB 129.5 billion in the second quarter of this year, of which 86.1% of the new loans flowed to small and micro business owners.
Similarly, Xinye Technology provided services to more than 501,000 small and micro enterprises in the second quarter of 2022, an increase of 22.8% year-on-year; the amount of loans facilitated in the small and micro fields increased to 10.4 billion yuan, accounting for 25.1% of the total loans contributed in the second quarter, an increase of 67.7% year-on-year. In the first half of this year, Xiaoying Technology has matched and provided loans of 32.129 billion yuan. Of the total loans, 46.18% flowed to small and micro enterprises and individual industrial and commercial households.
According to 360 Digital Technology, the company's cooperative financial institutions in the second quarter of 2022 also provided loan amounts of 4.9 billion yuan to small and micro enterprises through the platform; similarly, Lexin's small and micro credit loan business for small and medium-sized business owners reached 5.4 billion yuan in the second quarter, an increase of 36.4% year-on-year.
In the first half of 2022, Xiaoying Technology matched and provided loans totaled 32.129 billion yuan. Of the total loan amount, 46.18% flows to small and micro enterprises and individual industrial and commercial households. Judging from user segmentation data, in the first half of the year, loans in fourth- and fifth-tier cities accounted for 44.4% of Xiaoying Technology’s users, and loans in rural areas accounted for 34.52%.
In addition, the China Banking and Insurance Regulatory Commission also issued the "Notice on Strengthening the Management of Internet Loan Business of Commercial Banks and Improving the Quality and Efficiency of Financial Services" on July 15, 2022, which clarified the positive role of Internet loans, further refined and clarified the requirements for Internet loan management, and extended the grace period for rectification of Internet loan business from July 2022 to June 2023.
It is not difficult to see that the advantages of financial technology companies in it are worthy of recognition. Similarly, the "new citizens" group and the small and micro fields have also become the common focus of various platforms' layout. As a financial technology company, how to use technology to empower users and better serve users is also the same development idea.
