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InvestorRoom FinVolution Group Reports Third Quarter 2021 Unaudited Financial Results -Total Transaction Volume continue record - breaking momentum reaching RMB38.1 billion- -Third consecutive quarter with over 1 million new global borrowers- SHANGHAI , Nov. 18 , 2021 / PRNewswire / -- FinVolution Group ( " FinVolution , " or the " Company " ) ( NYSE : FINV ) , a leading fintech platform in China , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . For the Three Months Ended September 30 , 2020 September 30 , 2021 YoY Change Total No. of New Individual Borrowers [ 3 ] ( ' 000 ) New Individual Borrowers China's Mainland ( ' 000 ) New Individual Borrowers International ( ' 000 ) No. of Small Business Owners served in China's Mainland ( ' 000 ) Total Transaction Volume [ 4 ] Transaction Volume China's Mainland ( RMB in billion ) Transaction Volume International ( RMB in billion ) Third Quarter 2021 Operational Highlights 408 1,184 190.2 % 207 201 827 357 299.5 % 77.6 % 98 488 398.0 % 17.3 38.1 120.2 % 17.0 37.1 118.2 % 0.3 1.0 233.3 % Third consecutive quarter with over 1 million new global borrowers • Total cumulative registered users [ 1 ] reached 135.6 million as of September 30 , 2021 . • Total number of unique borrowers [ 2 ] was 3.9 million as of September 30 , 2021 . • Total number of new borrowers [ 3 ] was 1.18 million , an increase of 190.2 % compared to the same period of 2020 . Total Transaction Volume and outstanding loan balances continue record breaking momentum • Total Transaction Volume reached RMB38.1 billion , an increase of 120.2 % compared to the same period of 2020 . • Transaction volume facilitated for total new borrowers [ 5 ] was RMB7.2 billion , an increase of 287.8 % compared to the same period of 2020 . • Total outstanding principal of loans reached RMB45.0 billion , an increase of 100.9 % compared to the same period of 2020 . Small business owner's loans continue to scale up with steady growth • Transaction volume facilitated for small business owners was RMB7.9 billion , representing 20.7 % of Total Transaction Volume . • Total number of small business owners served in the third quarter of 2021 was 488.0 thousand , an increase of 398.0 % compared to the same period of 2020 . International expansion continues to accelerate with diversified business models • Number of new borrowers acquired in the International Markets reached 357.0 thousand , an increase of 77.6 % compared to the same period of 2020 . • Entered into a strategic cooperation with PT Bank Jago , increasing loan facilitation capabilities and broadening presence across different market segments in Indonesia . • Commenced Buy - Now - Pay - Later cooperation with e - commerce partners in Indonesia . • Transaction volume facilitated in the International Markets exceeded RMB1.0 billion , an increase of 233.3 % compared to the same period of 2020 . More operational highlights • Executed initial issuance of RMB200 million asset - backed - securities ( " ABS " ) which was listed on and traded on China's Shenzhen Stock Exchange . • 90 day + delinquency ratio [ 6 ] was 1.04 % as of September 30 , 2021 , compared to 3.4 % in the same period of 2020 . • Average loan size [ 7 ] was RMB5,102 for the third quarter of 2021 , compared to RMB4,095 in the same period of 2020 . • Average loan tenor [ 8 ] was 8.2 months for the third quarter of 2021 . Third Quarter 2021 Financial Highlights Sustainable growth with progressive improvement • Net revenue was RMB2,525.1 million ( US $ 391.9 million ) for the third quarter of 2021 , an increase of 40.8 % from RMB1,793.3 million compared to the same period of 2020 . • Operating profit was RMB729.9 million ( US $ 113.3 million ) for the third quarter of 2021 , an increase of 5.9 % from the same period of 2020 . • Non - GAAP adjusted operating income [ 9 ] , which excludes share - based compensation expenses before tax , was RMB751.3 million ( US $ 116.6 million ) for the third quarter of 2021 , an increase of 7.7 % from the same period of 2020 . • Diluted net profit per American depositary share ( " ADS " ) was RMB2.15 ( US $ 0.33 ) and diluted net profit per share was RMB0.43 ( US $ 0.07 ) , an increase of 4.9 % from the same period of 2020. Non - GAAP diluted net profit per ADS was RMB2.21 ( US $ 0.34 ) and non - GAAP diluted net profit per share was RMB0.44 ( US $ 0.07 ) , an increase of 6.3 % from the same period of 2020. Each ADS of the Company represents five ordinary shares of the Company . [ 1 ] On a cumulative basis , total number of users registered on the Company's platforms as of September 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 days past due as a percentage of the total outstanding principal balance of on- and off - balance sheet loans on the Company's platform as of a specific date . Loans that originated outside China's Mainland are 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 , " Given our stronger - than - expected results , greater confidence in business trends and successful strategy execution , we have raised our total transaction volume outlook for 2021. We now expect transaction volume for the year to reach between RMB130 billion and RMB135 billion , representing a year - over - year increase in the range of 102.8 % to 110.6 % , above our prior guidance of RMB100 billion to RMB120 billion . " " Total transaction volume maintained its strong growth trajectory during the third quarter , reaching a new record high of RMB38.1 billion , representing an increase of 120.2 % year over year and 14.1 % sequentially . " " Transaction volume for small business owners grew rapidly to RMB7.9 billion , accounting for 20.7 % of total transaction volume for the period . The total number of small business owners we served in the third quarter grew to 488 thousand , representing a 19.6 % increase from the previous quarter . " " Our international expansion continues to flourish . During the third quarter , we strengthened our local partnerships and generated over RMB1 billion in transaction volume . Our strategic cooperation with PT Bank Jago increased our loan facilitation capabilities and broadened our presence across different market segments in Indonesia . We have also teamed up with local e - commerce partners to launch operations in the Buy - Now - Pay - Later sector . Looking ahead , we will continue to pursue premium quality growth in China while capturing massive growth opportunities in international markets , " concluded Mr. Zhang . Mr. Jiayuan Xu , the Chief Financial Officer of FinVolution , commented , " We successfully issued and listed our first ABS on China's Shenzhen Stock Exchange , marking an important milestone in our strategic transition towards better quality borrowers . With the diversification in funding sources through different avenues , we expect future improvement in