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X Financial Reports First Quarter 2021 Unaudited Financial Results SHENZHEN , China , June 15 , 2021 / PRNewswire / -- X Financial ( NYSE : XYF ) ( the " Company " or “ we ” ) , a leading online personal finance company in China , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial Highlights • • • Total net revenue in the first quarter of 2021 was RMB906.3 million ( US $ 138.3 million ) , representing an increase of 71.3 % from RMB529.0 million in the same period of 2020 . Income from operations in the first quarter of 2021 was RMB251.2 million ( US $ 38.3 million ) , compared with loss from operations of RMB 130.0 million in the same period of 2020 . Net income attributable to X Financial shareholders in the first quarter of 2021 was RMB192.8 million ( US $ 29.4 million ) , compared with net loss attributable to X Financial shareholders of RMB196.3 million in the same period of 2020 . Non - GAAP¹ adjusted net income attributable to X Financial shareholders in the first quarter of 2021 was RMB212.0 million ( US $ 32.4 million ) , compared with Non - GAAP adjusted net loss attributable to X Financial shareholders of RMB159.9 million in the same period of 2020 . Net income per basic and diluted American depositary share ( " ADS " ) 2 in the first quarter of 2021 was RMB3.54 ( US $ 0.54 ) and RMB3.48 ( US $ 0.53 ) , compared with net loss per basic and diluted ADS of RMB3.66 and RMB3.66 in the same period of 2020 . Non - GAAP adjusted net income per basic and adjusted diluted ADS in the first quarter of 2021 was RMB3.90 ( US $ 0.60 ) , and RMB3.84 ( US $ 0.59 ) , compared with Non - GAAP adjusted net loss per basic and diluted ADS of RMB3.00 and RMB3.00 in the same period of 2020 . First Quarter 2021 Operational Highlights • The total loan facilitation amount ³ in the first quarter of 2021 was RMB10,855 million , representing an increase of 59.1 % from RMB6,823 million in the same period of 2020 and an increase of 25.2 % from RMB8,673 million in the previous quarter . The loan facilitation amount of Xiaoying Credit Loan 4 in the first quarter of 2021 was RMB10,855 million , representing an increase of 134.4 % from RMB4,631 million in the same 1 The Company uses in this press release the following non - GAAP financial measures : ( i ) adjusted net income ( loss ) , ( ii ) adjusted net income ( loss ) attributable to X Financial shareholders , ( iii ) adjusted net income ( loss ) per basic ADS , and ( iv ) adjusted net income ( loss ) per diluted ADS , each of which excludes share - based compensation expense and income ( loss ) from investments in VC funds . For more information on non - GAAP financial measure , please see the section of " Use of Non - GAAP Financial Measures Statement " and the table captioned “ Unaudited Reconciliations of GAAP and Non - GAAP Results " set forth at the end of this press release . 2 Each American depositary share ( " ADS " ) represents six Class A ordinary shares . On November 19 , 2020 , a ratio change that has the same effect as a 1 - for - 3 reverse ADS split took effect , and as a result , one ADS currently represents six Class A ordinary shares . 3 Represents the total amount of loans that X Financial facilitated during the relevant period . 4 Xiaoying Credit Loan is a category of online personal credit loan products facilitated through our platform , including Xiaoying Card Loan , Xiaoying Preferred Loan and other unsecured loan products we introduce from time to time . We ceased the operation of Xiaoying Preferred Loan in October 2019 . 1/11