Yirendai Reports Third Quarter 2018 Financial Results
BEIJING, Nov. 12, 2018 /PRNewswire/ -- Yirendai Ltd. (NYSE: YRD) ("Yirendai" or the "Company"), a leading fintech company in China, today announced its unaudited financial results for the quarter ended September 30, 2018.
For the Three Months Ended
in RMB million
30-Sep-18 30-Sep-17
YoY Change
--- ---
Amount of Loans Facilitated 6,546.2 12,185.4 -46%
Total Net Revenue 1,121.2 1,513.9 -26%
Net Income 151.6 303.0 -50%
Adjusted EBITDA (non-GAAP)* 509.3 422.4 21%
Adjusted Net Income (non-GAAP)* 367.5 303.0 21%
---
* For the third quarter of 2018, adjusted EBITDA and adjusted net income includes RMB 215.9
million adjustment on income earned from loans facilitated prior to 2018, if ASC 606 was not
adopted.
In the third quarter of 2018, Yirendai facilitated RMB 6,546.2 million (US$953.1 million) of loans to 96,402 qualified individual borrowers through its online marketplace; 32.2% of loan volume were generated by repeat borrowers who have successfully borrowed on Yirendai's platform before; 74.8% of the borrowers were acquired from online channels; 100% of the loan volume originated from online channels was facilitated through mobile.
In the third quarter of 2018, Yirendai facilitated 164,218 investors with total investment amount of RMB 11,412.6 million (US$1,661.7 million), 100% of which was facilitated through its online platform and 96% of which was facilitated through its mobile application.
In the third quarter of 2018, total net revenue was RMB 1,121.2 million (US$163.2 million), a decrease of 26% from prior year; net income was RMB 151.6 million (US$22.1 million), a decrease of 50% from prior year and adjusted net income in the third quarter of 2018 was RMB 367.5 million (US$53.5 million), an increase of 21% from prior year.
"Despite a challenging industry environment during the quarter, we achieved solid performance," commented Ms. Yihan Fang, Chief Executive Officer of Yirendai. "We have seen continuously strong demand from investors on our platform, with our PICC insured loan products being sold out every day, reinforcing our leadership position. We remain confident about Yirendai's long-term prospects amid an uncertain industry environment."
"As the industry goes through the regulatory evaluation process, we maintain a prudent risk and growth policy," commented Mr. Dennis Cong, Chief Financial Officer of Yirendai. "We are currently awaiting regulators to begin on-site inspections at Yirendai and we are exceedingly confident of our ability to meet registration requirements. This quarter, one of our top priorities was cash and liquidity management, and with efforts made in product and funding diversification, we believe that we are in a solid cash and liquidity position, making us well-positioned to resume our growth and capture market opportunities as the industry consolidates."
Third Quarter 2018 Financial Results
Total amount of loans facilitated in the third quarter of 2018, was RMB 6,546.2 million (US$953.1 million), decreased by 46% from RMB 12,185.4 million in the same period last year as we proactively controlled our business growth. As of September 30, 2018, Yirendai had facilitated approximately RMB 104.2 billion (US$15.2 billion) in loan principal since its inception.
Total net revenue in the third quarter of 2018 was RMB 1,121.2 million (US$163.2 million), decreased by 26% from RMB 1,513.9 million in the same period last year. The decrease of total net revenue was mainly attributable to a decline in loan origination volume.
Sales and marketing expenses in the third quarter of 2018 were RMB 451.0 million (US$65.7 million), compared to RMB 844.2 million in the same period last year. Sales and marketing expenses in the third quarter of 2018 accounted for 6.9% of amount of loans facilitated, remaining stable from 6.9% in the same period last year.
Origination and servicing costs in the third quarter of 2018 were RMB 155.0 million (US$22.6 million), compared to RMB 119.0 million in the same period last year. Origination and servicing costs in the third quarter of 2018 accounted for 2.4% of amount of loans facilitated, increased from 1.0% in the same period last year mainly due to increased collection efforts this quarter.
General and administrative expenses in the third quarter of 2018 were RMB 167.3 million (US$24.4 million), compared to RMB 172.6 million in the same period last year. General and administrative expenses in the third quarter of 2018 accounted for 14.9% of total net revenue, compared to 11.4% in the same period last year.
Provision expenses in the third quarter of 2018 were RMB 214.7 million (US$31.3 million), compared to RMB 163.0 million in the second quarter of 2018. The increase in provision expenses was mainly attributable to more conservative changes in future collectability estimates.
Income tax expense in the third quarter of 2018 was RMB 34.2 million (US$5.0 million). Since the first quarter of 2017, Yi Ren Heng Ye Technology Development (Beijing) Co., Ltd., a subsidiary of the Company, enjoyed a favorable enterprise income tax rate of 12.5% as a software enterprise which qualification was confirmed by local tax bureau in the third quarter of 2016. This makes it eligible for an exemption of enterprise income tax for 2015 and 2016 and a favorable enterprise income tax rate of 12.5% for 2017, 2018 and 2019.
Net income in the third quarter of 2018 was RMB 151.6 million (US$22.1 million), decreased by 50% from RMB 303.0 million in the same period last year.
Adjusted net income (non-GAAP) in the third quarter of 2018 was RMB 367.5 million (US$53.5 million), increased by 21% from RMB 303.0 million in the same period last year. For the third quarter of 2018, net income would be positively impacted by RMB 215.9 million if ASC 606 was not adopted, generated from loans facilitated prior to 2018.
Adjusted EBITDA (non-GAAP) in the third quarter of 2018 was RMB 509.3 million (US$74.2 million), increased by 21% from RMB 422.4 million in the same period last year. Adjusted EBITDA margin([1]) (non-GAAP) in the third quarter of 2018 was 45.4%, compared to 27.9% in the same period last year. For the third quarter of 2018, adjusted EBITDA includes RMB 287.9 million adjustment on pre-tax income earned from loans facilitated prior to 2018, if ASC 606 was not adopted.
[1] Adjusted EBITDA margin is a non-GAAP financial measure calculated as adjusted EBITDA divided by total net revenue.
Basic income per ADS in the third quarter of 2018 was RMB 2.46 (US$0.36), decreased from RMB 5.00 in the same period last year.
Adjusted basic income per ADS in the third quarter of 2018 was RMB 5.97 (US$0.87). Adjusted basic income per ADS includes RMB 215.9 million adjustment on income earned from loans facilitated prior to 2018, if ASC 606 was not adopted.
Diluted income per ADS in the third quarter of 2018 was RMB 2.43 (US$0.35), decreased from RMB 4.91 in the same period last year.
Adjusted diluted income per ADS in the third quarter of 2018 was RMB 5.89 (US$0.86). Adjusted diluted income per ADS includes RMB 215.9 million adjustment on income earned from loans facilitated prior to 2018, if ASC 606 was not adopted.
Net cash used in operating activities in the third quarter of 2018 was RMB 138.2 million (US$20.1 million), compared to RMB 1,370.1 million in the second quarter of 2018.
As of September 30, 2018, cash and cash equivalents was RMB 806.9 million (US$117.5 million), compared to RMB 567.5 million as of June 30, 2018. As of September 30, 2018, balance of held-to-maturity investments was RMB 319.6 million (US$46.5 million), compared to RMB 312.1 million as of June 30, 2018. As of September 30, 2018, balance of available-for-sale investments was RMB 833.8 million (US$121.4 million), compared to RMB 530.1 million as of June 30, 2018.
Delinquency rates. As of September 30, 2018, the delinquency rates for loans that are past due for 15-29 days, 30-59 days and 60-89 days were 1.1%, 1.8% and 1.5%, compared to 0.8%, 1.2% and 1.3%, as of June 30, 2018. The increase in delinquency rates was partially due to the slower loan volume growth as well as continuous movements in the Company's asset credit performance.
Cumulative M3+ net charge-off rates. As of September 30, 2018, the cumulative M3+ net charge-off rate for loans originated in 2015 was 10.3%, compared to 10.1% as of June 30, 2018. As of September 30, 2018, the cumulative M3+ net charge-off rate for loans originated in 2016 was 9.6%, compared to 8.7% as of June 30, 2018. As of September 30, 2018, the cumulative M3+ net charge-off rate for loans originated in 2017 was 8.5%, compared to 6.0% as of June 30, 2018.
Other Operating Metrics and Business Results
-- As of September 30, 2018, remaining principal of performing loans
totaled RMB 42.6 billion (US$6.2 billion), decreased by 7% from RMB 45.8
billion as of June 30, 2018 and increased by 24% from RMB 34.2 billion
as of September 30, 2017.
-- In the third quarter of 2018, Grade I, II, III, IV and V loans
represented 11.5%, 32.7%, 31.3%, 17.8% and 6.7% of the Company's product
portfolio, respectively.
Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted net income, adjusted EBITDA, adjusted EBITDA margin, adjusted basic income per ADS and adjusted diluted income per ADS as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See "Operating Highlights and Reconciliation of GAAP to Non-GAAP measures" at the end of this press release.
Currency Conversion
This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB 6.8680 to US$1.00, the effective noon buying rate on September 28, 2018 as set forth in the H.10 statistical release of the Federal Reserve Board.
Conference Call
Yirendai's management will host an earnings conference call at 8:00 p.m. Eastern Time on November 12, 2018, (or 9:00 a.m. Beijing/Hong Kong Time on November 13, 2018).
Dial-in details for the earnings conference call are as follows:
International:
+65 6713-5091
U.S. Toll Free: +1 866-519-4004
Hong Kong Toll Free:
800-906-601
China Toll Free:
400-620-8038
Conference ID: 2788437
A replay of the conference call may be accessed by phone at the following numbers until November 19, 2018:
International: +61 2-8199-0299
U.S. Toll Free: +1 646-254-3697
Replay Access Code: 2788437
Additionally, a live and archived webcast of the conference call will be available at ir.yirendai.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yirendai's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to Yirendai's ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yirendai's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in Yirendai's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Yirendai does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About Yirendai
Yirendai Ltd. (NYSE: YRD) is a leading fintech company in China connecting investors and individual borrowers. The Company provides an effective solution to address largely underserved investor and individual borrower demand in China through an online platform that automates key aspects of its operations to efficiently match borrowers with investors and execute loan transactions. Yirendai deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yirendai's online marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns. For more information, please visit ir.yirendai.com.
For investor and media inquiries, please contact:
Yirendai
Hui (Matthew) Li
Director of Investor Relations
Email: ir@yirendai.com
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except for share, per share and per ADS data, and percentages)
For the Three Months Ended
For the Nine Months Ended
---
September 30,
June 30,
September 30,
September 30,
September 30,
September 30,
September 30,
2017 2018 2018 2018 2017 2018 2018
---
RMB
RMB
RMB
USD
RMB
RMB
USD
Net revenue:
Loan facilitation services 1,425,162 997,450 516,849 75,254 3,522,760 2,761,915 402,143
Post-origination services 49,951 61,673 79,665 11,600 124,652 194,743 28,355
Account management services - 401,960 441,146 64,232 1,204,227 175,339
Others 38,791 58,489 83,514 12,160 71,148 189,176 27,545
Total net revenue 1,513,904 1,519,572 1,121,174 163,246 3,718,560 4,350,061 633,382
Operating costs and expenses:
Sales and marketing 844,165 793,750 450,986 65,665 1,931,425 2,026,462 295,059
Origination and servicing 119,036 147,031 154,953 22,562 270,967 444,724 64,753
General and administrative 172,643 333,406 167,288 24,358 371,755 837,974 122,011
Provision expenses - 163,029 214,695 31,260 494,348 71,978
Total operating costs and expenses 1,135,844 1,437,216 987,922 143,845 2,574,147 3,803,508 553,801
Interest income, net 33,250 20,753 7,856 1,144 84,797 56,135 8,173
Fair value adjustments related to (22,762) 142,603 44,627 6,498 (23,322) 191,693 27,911
Consolidated ABFE
Non-operating income, net 158 5 41 6 920 (406) (59)
Income before provision for income taxes 388,706 245,717 185,776 27,049 1,206,808 793,975 115,606
Income tax expense 85,732 41,054 34,163 4,974 283,837 158,795 23,121
Net income 302,974 204,663 151,613 22,075 922,971 635,180 92,485
Weighted average number of ordinary 121,249,448 121,429,290 123,042,879 123,042,879 120,167,235 121,951,944 121,951,944
shares outstanding, basic
Basic income per share 2.4988 1.6855 1.2322 0.1794 7.6807 5.2084 0.7584
Basic income per ADS 4.9976 3.3710 2.4644 0.3588 15.3614 10.4168 1.5168
Weighted average number of ordinary 123,509,834 123,656,710 124,875,663 124,875,663 121,757,910 124,107,002 124,107,002
shares outstanding, diluted
Diluted income per share 2.4530 1.6551 1.2141 0.1768 7.5804 5.1180 0.7452
Diluted income per ADS 4.9060 3.3102 2.4282 0.3536 15.1608 10.2360 1.4904
Unaudited Condensed Consolidated
Cash Flow Data
Net cash generated from/(used in) 346,329 (1,370,147) (138,204) (20,123) 1,441,204 (1,846,078) (268,794)
operating activities
Net cash provided by/ (used in) 342,289 (491,870) (82,268) (11,978) (181,099) (956,329) (139,244)
investing activities
Net cash (used in)/ provided by (127,864) 197,184 (105,574) (15,372) (267,698) 46,434 6,761
financing activities
Effect of foreign exchange rate changes (14,885) 8,117 15,405 2,244 (25,127) 12,546 1,827
Net increase/(decrease) in cash, cash 545,869 (1,656,716) (310,641) (45,229) 967,280 (2,743,427) (399,450)
equivalents and restricted cash
Cash, cash equivalents and restricted 2,607,922 2,886,798 1,230,082 179,103 2,186,511 3,662,868 533,324
cash, beginning of period
Cash, cash equivalents and restricted 3,153,791 1,230,082 919,441 133,874 3,153,791 919,441 133,874
cash, end of period
Unaudited Consolidated Balance Sheet
(in thousands)
As of
September 30, June 30,
September 30,
September 30,
2017 2018 2018 2018
---
RMB
RMB
RMB
USD
Cash and cash equivalents 1,403,529 567,502 806,946 117,494
Restricted cash 1,750,262 662,580 112,495 16,380
Accounts receivable 24,050 6,856 6,616 962
Prepaid expenses and other assets 1,136,993 1,228,150 1,180,650 171,906
Loans at fair value 558,178 1,659,310 1,335,584 194,465
Amounts due from related parties 176,867 119,616 121,864 17,744
Held-to-maturity investments 168,917 312,101 319,639 46,540
Available-for-sale investments 996,660 530,057 833,835 121,409
Property, equipment and software, net 81,515 96,769 96,640 14,071
Deferred tax assets 685,875 429,964 231,655 33,730
Contract assets, net - 2,552,900 2,250,185 327,633
Total assets 6,982,846 8,165,805 7,296,109 1,062,334
Accounts payable 22,634 36,657 33,170 4,830
Amounts due to related parties 22,740 54,954 102,844 14,974
Liabilities from quality assurance program and guarantee 2,392,794 12,152 6,470 942
Deferred revenue 194,646 -
Payable to third-party credit assurance program - 1,241,859 353,040 51,404
Payable to investors at fair value 145,200 51,988 13,944 2,030
Accrued expenses and other liabilities 1,704,620 1,234,407 1,074,196 156,406
Deferred tax liabilities 4,545 658,156 561,370 81,737
Contract liabilities 294,680 376,905 54,879
Total liabilities 4,487,179 3,584,853 2,521,939 367,202
Ordinary shares 76 76 77 11
Additional paid-in capital 1,094,916 1,174,158 1,266,534 184,411
Treasury stock - (254) (37)
Accumulated other comprehensive income 4,330 9,005 18,360 2,673
Retained earnings 1,396,345 3,397,713 3,489,453 508,074
Total equity 2,495,667 4,580,952 4,774,170 695,132
Total liabilities and equity 6,982,846 8,165,805 7,296,109 1,062,334
Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except for number of borrowers, number of investors and percentages)
For the Three Months Ended
For the Nine Months Ended
---
September 30,
June 30,
September 30,
September 30,
September 30,
September 30,
September 30,
2017 2018 2018 2018 2017 2018 2018
---
RMB
RMB
RMB
USD
RMB
RMB
USD
Operating Highlights
Amount of loans facilitated 12,185,367 11,736,216 6,546,167 953,141 27,967,538 30,239,102 4,402,898
Loans generated from online channels 6,972,156 7,608,411 4,147,761 603,926 14,833,895 18,696,514 2,722,265
Loans generated from offline channels 5,213,211 4,127,805 2,398,406 349,215 13,133,643 11,542,588 1,680,633
Number of borrowers 192,725 177,754 96,402 96,402 455,507 447,791 447,791
Borrowers from online channels 145,838 135,686 72,108 72,108 329,736 333,765 333,765
Borrowers from offline channels 46,887 42,068 24,294 24,294 125,771 114,026 114,026
Number of investors 214,967 202,380 164,218 164,218 455,251 430,293 430,293
Investors from online channels 214,967 202,380 164,218 164,218 455,251 430,293 430,293
Reconciliation of Net Income
Net income 302,974 204,663 151,613 22,075 922,971 635,180 92,485
Adjustments on net income generated from - 235,877 215,920 31,438 701,219 102,099
loans pre-2018 (before adopting ASC606)
Adjusted net income 302,974 440,540 367,533 53,513 922,971 1,336,399 194,584
Reconciliation of EBITDA
Net income 302,974 204,663 151,613 22,075 922,971 635,180 92,485
Adjustments on income before income - 314,503 287,892 41,918 934,958 136,133
taxes, generated from loans pre-2018
(before adopting ASC606)
Interest income, net -33,250 (20,753) (7,856) (1,144) (84,797) (56,135) (8,173)
Income tax expense 85,732 41,054 34,163 4,974 283,837 158,795 23,121
Depreciation and amortization 6,892 9,119 10,944 1,594 15,991 28,563 4,159
Share-based compensation 60,065 17,791 32,537 4,737 63,142 67,902 9,887
Adjusted EBITDA 422,413 566,377 509,293 74,154 1,201,144 1,769,263 257,612
Adjusted EBITDA margin 27.9% 37.3% 45.4% 45.4% 32.3% 40.7% 40.7%
Operating Highlights
(in thousands)
As of
September 30, June 30,
September 30,
September 30,
2017 2018 2018 2018
---
RMB
RMB
RMB
USD
Operating Highlights
Remaining principal of performing loans 34,235,727 45,849,674 42,576,846 6,199,308
Remaining principal of performing loans covered by 33,622,142 148,523 124,811 18,173
quality assurance program and guarantee
Remaining principal of performing loans covered by - 42,149,174 38,960,185 5,672,712
third-party credit assurance program
Delinquency Rates
---
Delinquent for
15-29 days 30-59 days 60-89 days
All Loans
December 31, 2014 0.3% 0.2% 0.2%
December 31, 2015 0.4% 0.5% 0.4%
December 31, 2016 0.4% 0.7% 0.6%
December 31, 2017 0.8% 0.9% 0.7%
March 31, 2018 0.8% 1.6% 1.3%
June 30, 2018 0.8% 1.2% 1.3%
September 30, 2018 1.1% 1.8% 1.5%
Online Channels
December 31, 2014 0.4% 0.3% 0.2%
December 31, 2015 0.6% 0.8% 0.6%
December 31, 2016 0.6% 1.0% 0.8%
December 31, 2017 1.2% 1.2% 0.9%
March 31, 2018 1.0% 2.2% 1.8%
June 30, 2018 0.9% 1.5% 1.6%
September 30, 2018 1.2% 2.2% 1.9%
Offline Channels
December 31, 2014 0.3% 0.2% 0.2%
December 31, 2015 0.3% 0.4% 0.3%
December 31, 2016 0.4% 0.6% 0.4%
December 31, 2017 0.5% 0.7% 0.5%
March 31, 2018 0.6% 1.1% 0.8%
June 30, 2018 0.7% 1.0% 1.0%
September 30, 2018 0.9% 1.3% 1.1%
Net Charge-Off Rate for Upgraded Risk Grid
---
Loan issued Customer
Amount of loans facilitated
Accumulated M3+ Net Charge-Off
Total Net Charge-Off Rate
period grade during the period as of September 30, 2018 as of September 30, 2018
---
(in RMB thousands)
(in RMB thousands)
2014
I
II 1,921,372 84,573 4.4%
III 303,276 19,105 6.3%
IV
V 3,913 518 13.2%
Total 2,228,561 104,196 4.7%
2015
I 146,490 4,533 3.1%
II 1,614,354 98,803 6.1%
III 2,521,705 215,455 8.5%
IV 2,506,107 270,642 10.8%
V 2,768,957 392,692 14.2%
Total 9,557,613 982,126 10.3%
2016
I 497,220 17,223 3.5%
II 3,137,889 148,707 4.7%
III 3,763,081 245,613 6.5%
IV 5,183,233 436,959 8.4%
V 7,799,180 1,111,359 14.2%
Total 20,380,603 1,959,861 9.6%
2017
I 2,701,162 79,896 3.0%
II 9,079,647 549,698 6.1%
III 10,611,451 928,899 8.8%
IV 10,263,135 1,010,216 9.8%
V 8,750,663 969,227 11.1%
Total 41,406,058 3,537,937 8.5%
Q1-Q3 2018
I 2,871,763 14,498 0.5%
II 8,326,827 91,292 1.1%
III 8,289,580 123,465 1.5%
IV 6,944,551 139,122 2.0%
V 3,806,381 95,347 2.5%
Total 30,239,102 463,723 1.5%
M3+ Net Charge-Off Rate
Loan issued
Month on Book
period
---
4 7 10 13 16 19 22 25 28 31 34
2013Q1 1.9% 3.2% 3.1% 2.3% 2.0% 0.9% 0.5% 0.5% 0.4% 0.4% 0.4%
2013Q2 1.8% 3.6% 4.5% 5.9% 6.4% 7.4% 6.1% 7.0% 7.5% 7.5% 7.8%
2013Q3 0.5% 2.8% 4.2% 5.5% 6.1% 6.5% 7.1% 7.1% 7.0% 6.9% 6.9%
2013Q4 0.7% 3.4% 4.8% 6.2% 6.8% 7.5% 8.3% 8.3% 8.2% 8.5% 8.3%
2014Q1 1.0% 4.2% 6.1% 7.0% 8.4% 9.3% 9.8% 9.7% 9.9% 9.8% 9.5%
2014Q2 0.5% 1.8% 2.6% 3.8% 4.3% 4.6% 4.6% 4.7% 4.7% 4.7% 4.8%
2014Q3 0.2% 0.8% 2.0% 2.8% 3.3% 3.7% 4.0% 4.2% 4.2% 4.1% 4.1%
2014Q4 0.3% 1.5% 2.7% 3.5% 4.1% 4.6% 5.1% 5.2% 5.2% 5.3% 5.3%
2015Q1 0.6% 2.7% 4.4% 5.8% 7.1% 8.2% 9.1% 9.6% 9.9% 10.2% 10.3%
2015Q2 0.5% 2.1% 3.7% 5.3% 6.6% 7.7% 8.6% 9.2% 9.6% 9.8% 10.1%
2015Q3 0.2% 1.6% 3.4% 4.9% 6.4% 7.4% 8.1% 8.6% 9.1% 9.5% 9.8%
2015Q4 0.2% 1.6% 3.2% 4.9% 6.2% 7.2% 8.0% 8.7% 9.4% 10.0%
2016Q1 0.2% 1.3% 2.9% 4.3% 5.4% 6.4% 7.2% 8.1% 8.9%
2016Q2 0.2% 1.7% 3.4% 4.9% 6.1% 7.1% 8.3% 9.4%
2016Q3 0.1% 1.5% 3.2% 4.6% 6.0% 7.5% 9.0%
2016Q4 0.2% 1.5% 3.0% 4.6% 6.4% 8.2%
2017Q1 0.2% 1.4% 3.2% 5.4% 7.6%
2017Q2 0.3% 2.0% 4.7% 7.5%
2017Q3 0.4% 3.0% 6.5%
2017Q4 0.6% 4.2%
2018Q1 0.5%
View original content:http://www.prnewswire.com/news-releases/yirendai-reports-third-quarter-2018-financial-results-300748305.html
SOURCE Yirendai Ltd.
