Beijing Business Daily News (Reporter Liu Sihong) On August 21st, fintech group Xinye Technology released its unaudited financial report for the second quarter of 2024. The report shows that in the second quarter, Xinye Technology achieved a revenue of 3.168 billion yuan (RMB, the same below) and a net profit of 551 million yuan. In terms of business indicators, the transaction volume for the quarter reached 48.7 billion yuan, a year-on-year increase of 3%; The loan balance was 65.6 billion yuan, a year-on-year increase of 3%.
In the domestic market, Xinye Technology achieved a transaction volume of 46.4 billion yuan in the second quarter, a year-on-year increase of 2%; The loan balance was 64.2 billion yuan, a year-on-year increase of 2.6%. As of the end of the second quarter, the company has provided digital services to over a hundred financial institutions; Nearly 25.9 million users have been served domestically.
In terms of international markets, Xinye Technology has established deeply localized fintech platforms in Indonesia and the Philippines, conducted technology service business in Latin America, and continues to explore business opportunities in more overseas markets. In the second quarter of this year, the effectiveness of the group's international market layout was further highlighted, with international business achieving a transaction volume of 2.3 billion yuan, a year-on-year increase of 27.8%; The international high-quality customer base continues to expand, and the proportion of new borrowing users exceeds that of the domestic market. Among them, the brand performance of the Philippine business exceeded expectations, with a high-speed year-on-year increase of 140% in transaction volume for the quarter, and further expanding cooperation with local financial institutions and leading e-commerce platforms in Southeast Asia.
In terms of shareholder returns, Xinye Technology invested $29.6 million in share repurchases in the second quarter, a 9% increase compared to the previous quarter. It is reported that since 2018, Xinye Technology has returned $662 million to shareholders through dividends and repurchases, with an overall shareholder return rate of 49% of net profit in 2023.