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InvestorRoom FinVolution Group Reports Second Quarter 2021 Unaudited Financial Results -Total Transaction Volume breaks record high to RMB33.4 billion- -Further international expansion with rapid growth in total number of new borrowers- SHANGHAI , Aug. 23 , 2021 / PRNewswire / -- FinVolution Group ( " FinVolution , " or the " Company " ) ( NYSE : FINV ) , a leading fintech platform in China , today announced its unaudited financial results for the second quarter ended June 30 , 2021 . For the Three Months Ended June 30 , 2020 June 30 , 2021 YoY Change Total No. of New Individual Borrowers [ 3 ] ( ' 000 ) Mainland ( ' 000 ) 197 1,183 500.5 % New Individual Borrowers China's 169 812 380.5 % New Individual Borrowers International ( ' 000 ) 28 371 1,225.0 % No. of Small Business Owners served in China's Mainland ( ' 000 ) 31 408 1,216.1 % Total Transaction Volume [ 4 ] 13.2 33.4 153.0 % Transaction Volume China's Mainland ( RMB in billion ) 13.1 32.5 148.1 % Transaction Volume International ( RMB in billion ) 0.05 0.94 1,780.0 % Second Quarter 2021 Operational Highlights Growing global user base with total no . of new borrowers reaching record high • Total cumulative registered users [ 1 ] reached 130.8 million as of June 30 , 2021 . • Total number of unique borrowers [ 2 ] was 3.7 million as of June 30 , 2021 . • Total number of new borrowers [ 3 ] was 1.18 million , an increase of 500.5 % compared to the same period of 2020 . Total transaction volume and outstanding loan balances both reaching new record highs • Total transaction volume reached RMB33.4 billion , an increase of 153.0 % compared to the same period of 2020 . • ⚫ Transaction volume facilitated for total new borrowers [ 5 ] was RMB7.1 billion , an increase of 610.0 % compared to the same period of 2020 . • Total outstanding principal of loans reached RMB39.4 billion , an increase of 86.7 % compared to the same period of 2020 . Small business owner's loans scaling up with steady growth • Transaction volume facilitated for small business owners was RMB6.2 billion , representing 18.6 % of total transaction volume . • Numbers of small business owners served in the quarter exceeded 408.0 thousand , an increase of 1,216.1 % compared to the same period of 2020 . International expansion continues to accelerate with new geographic presence • Number of new borrowers acquired in the international markets reached 371.0 thousands , an increase of 1,225.0 % compared to the same period of 2020 . • Transaction volume facilitated for the international markets was RMB940.0 million , an increase of 1,780.0 % compared to the same period of 2020 . • Pilot testing operations took off in Vietnam . More operational highlights • 90 day + delinquency ratio [ 6 ] reached a new historical low to 1.01 % as of June 30 , 2021 , compared to 7.13 % in the same period of 2020 . • Average loan size [ 7 ] was RMB4,403 for the second quarter of 2021 , compared to RMB3,867 in the same period of 2020 . • Average loan tenor [ 8 ] was 8.1 months for the second quarter of 2021 . Second Quarter 2021 Financial Highlights Sustainable growth with progressive improvement • Net revenue was RMB2,384.1 million ( US $ 369.3 million ) for the second quarter of 2021 , an increase of 31.7 % from RMB1,810.5 million compared to the same period of 2020 . • Operating profit was RMB704.7 million ( US $ 109.1million ) for the second quarter of 2021 , an increase of 24.2 % from the same period of 2020 . • Non - GAAP adjusted operating income [ 9 ] , which excludes share - based compensation expenses before tax , was RMB726.1 million ( US $ 112.5million ) for the second quarter of 2021 , an increase of 26.1 % from the same period of 2020 . • Diluted net profit per ADS was RMB2.11 ( US $ 0.33 ) and diluted net profit per share was RMB0.42 ( US $ 0.07 ) , an increase of 40.7 % in the same period of 2020. Non - GAAP diluted net profit per ADS was RMB2.17 ( US $ 0.34 ) and Non - GAAP diluted net profit per share was RMB0.43 ( US $ 0.07 ) , an increase of 42.8 % in the same period of 2020 . [ 1 ] On a cumulative basis , total number of users registered on the Company's platforms as of June 30 , 2021 . [ 2 ] Represents the total number of borrowers whose transactions were facilitated on the Company's platforms during the period presented . [ 3 ] Represents the total number of new borrowers on the Company's platforms during the period presented . [ 4 ] Represents total transaction volume facilitated on the Company's platforms during the period presented . [ 5 ] Represents transaction volume facilitated for total number of new borrowers on the Company's platforms during the period presented . [ 6 ] " 90 day + delinquency ratio " refers to the outstanding principal balance of on - and - off balance sheet loans that were 90 to 179 calendar past due as a percentage of the total outstanding principal balance of on - off balance sheet loans on the Company's platform as of a specific date . Loans that originated outside China's Mainland is not included in the calculation . [ 7 ] Represents the average loan size on the Company's platform in China's Mainland during the period presented . [ 8 ] Represents the average loan tenor period on the Company's platform in China's Mainland during the period presented . [ 9 ] Please refer to " UNAUDITED Reconciliation of GAAP And Non - GAAP Results " for reconciliation between GAAP and Non - GAAP adjusted operating income . Mr. Feng Zhang , the Chief Executive Officer of FinVolution , commented , " We are thrilled to be reporting another set of record - breaking operational and financial results in the second quarter . As we harness our technological capabilities effectively to acquire new better quality borrowers and constantly increase our acquisition channels , our total number of new better quality borrowers acquired globally once again crossed the one million mark to a new record high of 1.18 million this quarter , an increase of 500.5 % year over year and 17.7 % quarter over quarter . " " Another clear indication that we are resuming high quality growth is our total transaction volume for the quarter reached a new record high to RMB33.4 billion , a 153.0 % jump year over year and a sequential increase of 24.6 % . " " Growth momentum for our small business owners segment remained robust with transaction volume increasing 40.9 % sequentially to RMB6.2 billion in the second quarter . Notably , the total number of small business owners served in the second quarter of 2021 exceeded 408 thousand , compared to just 220 thousand in total for the full year 2020. " " Our pilot testing operations in Vietnam , marks the fourth country in our global roadmap in addition to our international presence in Indonesia , Philippines , and Singapore . Leveraging our technologies and digitization capabilities to create long term value for our stakeholders , we are confident in our ability to maintain our position as the leading fintech platform in China while capturing tremendous growth opportunities globally , " concluded Mr. Zhang . Mr. Jiayuan Xu , the Chief Financial Officer of FinVolution , commented , " With continued improvement across multiple operating metrics in the second quarter , we delivered a non- GAAP operating profit of RMB726.1 million , an increase of 26.1 % year - over - year and a sequential increase of 8.2 % , further validating the viability of our business model . Our robust balance sheet with RMB4.9 billion in unrestricted cash and short term investments , coupled with strong technology capabilities positions us well to explore opportunities both in domestic and international markets , " concluded Mr. Xu . Second Quarter 2021 Financial Results