On November 21, Beijing time, Xinye Technology (NYSE: FINV) released its unaudited financial report for the third quarter of 2023. According to the financial report, Xinye Technology achieved a quarterly revenue of 3.198 billion yuan (RMB, the same below), an increase of 7.6% compared to the same period last year; The transaction volume achieved in the current quarter was 51.3 billion yuan, a year-on-year increase of 12.7%; The loan balance at the end of the quarter was 65.9 billion yuan, an increase of 9.3% year-on-year.
Xinye Technology's international business continued to perform well in the third quarter, with a revenue contribution of 585 million yuan, a year-on-year increase of 67.3%, accounting for 18.3% of the group's total revenue.
Xinye Technology maintains its risk indicators at a low level. According to the financial report, Xinye Technology's high-quality users accounted for over 80% of the quarter and remained stable; The overdue rate of over 90 days is 1.67%, continuously surpassing the industry level.
Xinye Technology continues to increase its strategic investment in small and micro financial service businesses. In the third quarter, Xinye Technology served approximately 448000 small and micro users and individual businesses, resulting in loans totaling 12.3 billion yuan, a year-on-year increase of 9% and a month on month increase of 7%.
Xinye Technology, formerly known as Paipai Leng, was established in June 2007 and headquartered in Shanghai. It was successfully listed on the New York Stock Exchange in 2017 and renamed "Xinye Technology Group" in November 2019.