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嘉 银 金 科 JIAYIN FIN - TECH Jiayin Group Inc. Reports Second Quarter 2021 Unaudited Financial Results August 25 , 2021 -- Second Quarter Total Loan Origination Volume grew 153.0 % to RMB5,663 million -- -- Second Quarter Net Income grew 208.5 % to RMB126.8 million -- SHANGHAI , China , Aug. 25 , 2021 ( GLOBE NEWSWIRE ) -- Jiayin Group Inc. ( " Jiayin " or the " Company " ) ( NASDAQ : JFIN ) , a leading fintech platform in China , today announced its unaudited financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Operational and Financial Highlights : • Loan origination volume¹ was RMB5,663 million ( US $ 877.1 million ) , representing an increase of 153.0 % from the same period of 2020 . • Average borrowing amount per borrower was RMB5,993 ( US $ 928.2 ) , representing a decrease of 14.2 % from the same period of 2020 . • Repeat borrowing rate² was 72.4 % , compared with repeat borrowing rate of 72.0 % in the same period of 2020 . • Net revenue was RMB492.2 million ( US $ 76.2 million ) , representing an increase of 100.9 % from the same period of 2020 . • Operating income was RMB149.6 million ( US $ 23.2 million ) , compared with operating income of RMB48.0 million in the same period of 2020 . • Net income was RMB126.8 million ( US $ 19.6 million ) , compared with net income of RMB41.1 million in the same period of 2020 . Mr. Yan Dinggui , the Company's Founder , Director and Chief Executive Officer , commented , " We are excited to announce an outstanding quarter with record operational and financial results . Loan origination volume reached RMB5,663.4 million , up 153.0 % year over year , while total revenue grew 100.9 % to RMB492.2 million from the same period of 2020. This milestone quarter fully reflects not only our successful business transition but also fruitful evidence of the years we dedicated to enhancing our risk management and improving asset quality . Our ability to grow our loan origination volume also illustrates the trust and confidence our funding partners have in our ability to generate high quality loan assets with optimized risk control system . Looking ahead , we will continue broadening partnerships with more funding partners to diversify our funding resources while maintaining excellence in our risk management . We are confident our robust growth will sustain and positive trajectory in both loan growth and asset quality will continue into the future . " " In addition to our topline expansion , we also accomplished meaningful progress in improving our operational efficiency and achieving noteworthy profitability . Our net income grew 208.5 % year over year to RMB126.8 million . This outstanding improvement demonstrates both the effectiveness of our growth strategy and strength in execution capabilities , " Mr. Yan concluded . Second Quarter 2021 Financial Results Net revenue was RMB492.2 million ( US $ 76.2 million ) , representing an increase of 100.9 % from the same period of 2020 . Revenue from loan facilitation services was RMB453.7 million ( US $ 70.3 million ) , representing an increase of 178.0 % from the same period of 2020 , of which RMB40.7 million ( US $ 6.3 million ) was from individual investor referral services . The increase was primarily due to the increased loan origination volume from our institutional funding partners . Revenue from post - origination services was nil , representing a decrease of 100 % from the same period of 2020. The decrease was due to the outstanding loan balance of our legacy P2P lending business being reduced to zero in November 2020 . Other revenue was RMB38.5 million ( US $ 5.9 million ) , representing a decrease of 8.3 % from the same period of 2020. The decrease was primarily due to reduced revenue from P2P related services as the Company no longer supports the legacy P2P lending business , of which has been partially offset by increased revenues generated both from our overseas business and sales of hardware by Shanghai Bweenet Network Technology Co. , Ltd. ( " Shanghai Bweenet " ) since May 2021 . Origination and servicing expense was RMB83.2 million ( US $ 12.9 million ) , representing an increase of 63.5 % from the same period of 2020 , primarily due to the increase in credit assessment expense resulting from higher loan origination volume . Cost of sales was RMB5.0 million ( US $ 0.8 million ) , compared with nil from the same period of 2020. The increase was primarily due the cost of hardware sold by Shanghai Bweenet .