Jiayin Group Q1 Net Income Declines; Net Revenue Up 31.5%

(RTTNews) - Jiayin Group (JFIN) reported first quarter net income of RMB 273.1 million, a decrease of 2.4% from RMB 279.7 million, last year. Net income per ADS was RMB 5.16, compared to RMB 5.24.

Net revenue was RMB 1.47 billion, an increase of 31.5% from the same period of 2023. Loan facilitation volume was RMB 22.5 billion, an increase of 13.6% from the same period of 2023.

The company expects loan facilitation volume for 2024 to be in the range of RMB 93 billion to RMB 98 billion and loan facilitation volume for the second quarter to be around RMB 23 billion.

On June 4, 2024, the Board of Directors approved the payment of cash dividend of $0.50 per American depositary share for the first tranche of dividends in fiscal 2024. Also, the Board of Directors approved to extend the share repurchase plan for a period of 12 months, commencing on June 13, 2024 and ending on June 12, 2025.

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