Yiren Digital Reports First Quarter 2020 Financial Results

BEIJING, June 23, 2020 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Operational Highlights

Wealth Management--Yiren Wealth

    --  Cumulative number of investors served reached 2,218,181 as of March 31,
        2020, representing an increase of 0.3% from 2,210,530 as of December 31,
        2019 and compared to 2,159,771 as of March 31, 2019.
    --  Number of current investors was 220,568 as of March 31, 2020,
        representing a decrease of 10.5% from 246, 561 as of December 31, 2019.
    --  Number of current non-P2P investors was 26,346 as of March 31, 2020,
        representing an increase of 23.3% from 21,360 as of December 31, 2019
        and compared to 19,236 as of March 31, 2019.
    --  Total assets under administration ("AUA") for P2P products on Yiren
        Wealth was RMB 30,536.4 million (US$ 4,312.6 million) as of March 31,
        2020, representing a decrease of 10.9% from RMB 34,264.8 million as of
        December 31, 2019, and compared to RMB 46,236.7 million as of March 31,
        2019.
    --  Total AUA for non-P2P products on Yiren Wealth was RMB 1,713.1 million
        (US$241.9 million) as of March 31, 2020, representing an increase of
        66.8% from RMB 1,026.9 million as of December 31, 2019 and compared to
        RMB 424.9 million as of March 31, 2019.
    --  Sales volume of non-P2P products amounted to RMB 2,163.3 million (US$
        305.5 million) in the first quarter of 2020, representing a decrease of
        15.1% from RMB 2,548.4 million in the fourth quarter of 2019 and
        compared to RMB 328.7 million in the same period of 2019.

Consumer Credit--Yiren Credit

    --  Total loan originations in the first quarter of 2020 reached RMB 1.8
        billion (US$0.3 billion), representing a decrease of 77.0% from RMB 8.0
        billion in the fourth quarter of 2019 and compared to RMB 10.9 billion
        in the first quarter of 2019.
    --  Cumulative number of borrowers served reached 4,810,184 as of March 31,
        2020, representing an increase of 2.4% from 4,695,487 as of December 31,
        2019 and compared to 4,405,115 as of March 31, 2019.
    --  Number of borrowers served in the first quarter of 2020 was 115,420,
        representing a decrease of 8.1% from 125,622 in the fourth quarter of
        2019 and compared to 149,715 in the first quarter of 2019.
    --  The percentage of loan volume generated by repeat borrowers was 4.9% in
        the first quarter of 2020.
    --  51.4% of loan originations were generated online in the first quarter of
        2020.
    --  Total outstanding principal balance of performing loans reached RMB
        42,063.0 million (US$ 5,940.4 million) as of March 31,2020, representing
        a decrease of 17.8% from RMB 51,157.3 million as of December 31, 2019.

"During this unprecedented time, our core businesses remained stable while we made substantial progress to diversify and enrich our business lines as we continue our business transformation into China's leading digital financial service platforms for consumers." said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "We are making good progress in expanding our creditech business with new products and services and through rapidly ramping up institutional funding. Meanwhile, our wealth management has seen strong growth despite the pandemic situation, especially for non-P2P wealth management products and services.

"For credit business, we have rolled out a series of new products to provide a full spectrum of credit services and meet broader needs for mainstream consumers' daily financing, including small-ticket-shorter-tenor loans, auto loans and SME loans. For the micro and small loans, we launched our products and services partnering with online consumption platforms. To fully leverage our nationwide service network coverage, we have rolled out auto loans targeted at second-handed cars, and the business has shown encouraging early growth momentum."

"On the wealth management front, non-P2P products are increasingly popular among investors and have seen strong growth. As of March 31, 2020, the total AUA for non-P2P products on Yiren Wealth grew to RMB 1,713.1 million, representing a 66.8% quarter-over-quarter growth and 303.2% year-over-year growth. Particularly we see strong demand of our fund products during the first quarter, with a 56.8% quarter-over-quarter growth of AUA driven by our new product offerings and also customers' strong demand, we expect this growth trends to continue through the year."

"Under the challenging operating environment amid the pandemic in the first quarter of 2020, we maintained strong liquidity and profitability," said Mr. Zhong Bi, Chief Financial Officer of Yiren Digital. "Despite significant business volume drop during the quarter, our strong cost control and operation efficiency efforts have kept our business at a profit and good cash position. Our cash and cash equivalents remained stable at RMB 3.2 billion. Our usable cash maintained at a healthy level at RMB 3.6 billion and we believe we are on solid footing in the dynamic environment."

"For credit performance and the risk management, overall, early delinquencies increased in the first quarter and reached its peak at the end of March due to the pandemic situation before it quickly declined in April and returned to near pre-pandemic level in May." said Mr. Michael Ji, Chief Risk Officer of Yiren Digital. "Visible progress has been made in prioritizing our business toward higher-quality customers, which was reflected in risk performance and we are glad to see essential improvement trend in 2019 and we expect a more substantially improved trend in 2020."

First Quarter 2020 Financial Results

Total amount of loans facilitated in the first quarter of 2020 was RMB 1,839.5 million (US$259.8 million), compared to RMB 10,934.9 million in the same period last year. As of March 31, 2020, the total outstanding principal amount of the performing loans was RMB 42.1 billion (US$5.9 billion), decreased by 17.8% from RMB 51.2 billion as of December 31 2019.

Total net revenue in the first quarter of 2020 was RMB 1,023.7 million (US$144.6 million), compared to RMB 1,980.4 million in the same period last year. Revenue from Yiren Credit reached RMB 607.8 million (US$ 85.8 million), representing a decrease of 58.3% from RMB 1,459.0 million in the first quarter of 2019. Revenue from Yiren Wealth reached RMB 415.9 million (US$58.7 million), representing a decrease of 20.2% from RMB 521.4 million in the first quarter of 2019.

Sales and marketing expenses in the first quarter of 2020 were RMB 616.4 million (US$87.1 million), compared to RMB 1,127.9 million in the same period last year. Sales and marketing expenses in the first quarter of 2020 accounted for 33.5% of the total amount of loans facilitated, as compared to 10.3% in the same period last year mainly due to the decline of loan volume.

Origination and servicing costs in the first quarter of 2020 were RMB 102.9 million (US$14.5 million), compared to RMB 172.1 million in the same period last year. Origination and servicing costs in the first quarter of 2020 accounted for 5.6% of the total amount of loans facilitated, compared to 1.6% in the same period last year due to the decline of loan volume.

General and administrative expenses in the first quarter of 2020 were RMB 149.0 million (US$21.0 million), compared to RMB 257.7 million in the same period last year. General and administrative expenses in the first quarter of 2020 accounted for 14.6% of the total net revenue, compared to 13.0% in the same period last year.

Allowance for contract assets and receivables in the first quarter of 2020 were RMB 143.4 million (US$20.3 million), compared to RMB 191.1 million in the same period last year.

Income tax expense in the first quarter of 2020 was RMB 3.9 million (US$0.6 million).

Net income in the first quarter of 2020 was RMB 19.2 million (US$2.7 million), compared to RMB 369.1 million in the same period last year.

Adjusted EBITDA (non-GAAP) in the first quarter of 2020 was RMB 29.8 million (US$4.2 million), compared to an adjusted EBITDA of RMB 469.0 million in the same period last year. Adjusted EBITDA margin([1]) (non-GAAP) in the first quarter of 2020 was 2.9%, compared to 23.7% in the same period last year.

Basic income per ADS in the first quarter of 2020 was RMB 0.21 (US$0.03), compared to a basic income per ADS of RMB 3.99 in the same period last year.

Diluted income per ADS in the first quarter of 2020 was RMB 0.21 (US$0.03), compared to a diluted income per ADS of RMB 3.96 in the same period last year.

Net cash generated from operating activities in the first quarter of 2020 was RMB 557.8 million (US$78.8 million), compared to net cash used in operating activities of RMB 658.4 million in the same period last year.

Net cash used in investing activities in the first quarter of 2020 was RMB 524.5 million (US$74.1 million), compared to RMB 249.9 million in the same period last year.

As of March 31, 2020, cash and cash equivalents was RMB 3,195.0 million (US$451.2 million), compared to RMB 3,198.1 million as of December 31, 2019. As of March 31, 2020, the balance of held-to-maturity investments was RMB 4.4 million (US$0.6 million), compared to RMB 6.6 million as of December 31, 2019. As of March 31, 2020, the balance of available-for-sale investments was RMB 456.1 million (US$64.4 million), compared to RMB 461.0 million as of December 31, 2019.

Delinquency rates. As of March 31, 2020, the delinquency rates for loans that are past due for 15-29 days, 30-59 days and 60-89 days were 1.6%, 4.1%, and 3.2%, respectively compared to 1.2%, 2.0%, and 1.7%,as of December 31, 2019.

Cumulative M3+ net charge-off rates. As of March 31, 2020, the cumulative M3+ net charge-off rate for loans originated in 2017 was 16.5%, compared to 16.0% as of December 31, 2019. As of March 31, 2020, the cumulative M3+ net charge-off rate for loans originated in 2018 was 15.8%, compared to 13.8% as of December 31, 2019. As of March 31, 2020, the cumulative M3+ net charge-off rate for loans originated in 2019 was 5.2%, compared to 3.1% as of December 31, 2019.


             [1] Adjusted EBITDA margin
              is a non-GAAP financial
              measure calculated as
              adjusted EBITDA divided by
              total net revenue.

Accounting Policy Change

Effective January 1, 2020, the Company adopted ASU No. 2016-13, Financial Instruments--Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance replaces the existing "incurred loss" methodology, and introduces a forward-looking expected loss approach referred to as a current expected credit losses ("CECL") methodology. Under the incurred loss methodology, credit losses are recognized only when the losses are probable of having been incurred. The CECL methodology requires that the full amount of expected credit losses for the lifetime be recorded at the time the financial asset is originated or acquired, and adjusted for changes in expected lifetime credit losses subsequently, which requires earlier recognition of credit losses.

The CECL methodology is applicable to estimation of credit losses of financial assets measured at amortized cost, primarily including accounts receivable, contract assets, financing receivables and other receivables. As a result, the Company recognized the cumulative effect as a decrease of approximately RMB 26.1 million to the opening balances of accumulated deficit on January 1, 2020.

Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin 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 7.0808 to US$1.00, the effective noon buying rate on March 31, 2020, as set forth in the H.10 statistical release of the Federal Reserve Board.

Conference Call

Yiren Digital's management will host an earnings conference call at 8:00 p.m. U.S. Eastern Time on June 23, 2020 (or 8:00 a.m. Beijing/Hong Kong Time on June 24, 2020).

Participants who wish to join the call should register online in advance of the conference at:

http://apac.directeventreg.com/registration/event/2773237

Please note the Conference ID number of 2773237

Once registration is completed, participants will receive the dial-in information for the conference call, an event passcode, and a unique registrant ID number.

Participants joining the conference call should dial-in at least 10 minutes before the scheduled start time.

A replay of the conference call may be accessed by phone at the following numbers until July 1, 2020:



              International                       +61 2-8199-0299



              U.S.                                +1 646-254-3697



              Replay Access Code:                         2773237

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 Yiren Digital'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 Yiren Digital'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 Yiren Digital'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 Yiren Digital'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 Yiren Digital 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 Yiren Digital

Yiren Digital Ltd. (NYSE: YRD) is a leading fintech company in China, providing both credit and wealth management services. For its credit business, the Company provides an effective solution to address largely underserved investor and individual borrower demand in China through online and offline channels to efficiently match borrowers with investors and execute loan transactions. Yiren Digital 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. Yiren Digital's 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 its wealth management business, the Company targets China's mass affluent population and strives to provide customized wealth management services, with a combination of long-term and short-term targets as well as different types of investments, ranging from cash and fixed-income assets, to funds and insurance. For more information, please visit 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



                                                          March 31, 2019                                     March 31, 2020            March 31, 2020

                                                                                                                                                  ---

                                        
              
                RMB                        
              
                RMB             
     
           USD



     Net revenue:


      Loan facilitation
       services                                                1,055,046                                             358,541                     50,636


      Post-origination
       services                                                  296,279                                             146,520                     20,693


      Account management
       services                                                  488,340                                             413,166                     58,350



     Others                                                     140,743                                             105,433                     14,890



      Total net revenue                                        1,980,408                                           1,023,660                    144,569




     Operating costs and expenses:


      Sales and marketing                                      1,127,945                                             616,441                     87,058


      Origination and
       servicing                                                 172,123                                             102,918                     14,535


      General and
       administrative                                            257,707                                             149,041                     21,049


      Allowance for
       contract assets and
       receivables                                               191,104                                             143,385                     20,250



      Total operating
       costs and expenses                                      1,748,879                                           1,011,785                    142,892




     Other income/(expenses):


      Interest income, net                                        23,875                                              25,116                      3,547


      Fair value
       adjustments related
       to Consolidated
       ABFE                                                       34,998                                            (26,020)                   (3,675)


      Others, net                                                160,223                                              12,184                      1,721



      Total other income/
       (expenses)                                                219,096                                              11,280                      1,593



      Income before
       provision for
       income taxes                                              450,625                                              23,155                      3,270



      Share of results of
       equity investees                                          (4,957)                                                                            -


      Income tax expense                                          76,534                                               3,936                        556



      Net income                                                 369,134                                              19,219                      2,714





      Weighted average
       number of ordinary
       shares outstanding,
       basic                                                 185,126,457                                         185,600,961                185,600,961



      Basic income per
       share                                                      1.9940                                              0.1036                     0.0146



      Basic income per ADS                                        3.9880                                              0.2072                     0.0292





      Weighted average
       number of ordinary
       shares outstanding,
       diluted                                               186,578,885                                         186,166,429                186,166,429



      Diluted income per
       share                                                      1.9784                                              0.1032                     0.0146



      Diluted income per
       ADS                                                        3.9568                                              0.2064                     0.0292





                   Unaudited Condensed Consolidated Cash Flow Data


      Net cash (used in)/
       generated from
       operating
       activities                                              (658,435)                                            557,762                     78,771


      Net cash used in
       investing
       activities                                              (249,931)                                          (524,479)                  (74,070)


      Net cash provided
       by/ (used in)
       financing
       activities                                                493,389                                            (65,637)                   (9,270)


      Effect of foreign
       exchange rate
       changes                                                   (2,196)                                              1,206                        170


      Net decrease in
       cash, cash
       equivalents and
       restricted cash                                         (417,173)                                           (31,148)                   (4,399)


      Cash, cash
       equivalents and
       restricted cash,
       beginning of period                                     3,034,484                                           3,269,142                    461,691


      Cash, cash
       equivalents and
       restricted cash,
       end of period                                           2,617,311                                           3,237,994                    457,292


                                             
         
              Unaudited Condensed Consolidated Balance Sheets


                                                       
             
                 (in thousands)


                                                 
          
               As of



                                                          December 31, 2019                                   March 31, 2020      March 31, 2020



                                               
         
               RMB                         
              
              RMB        
     
          USD




              Cash and cash equivalents                           3,198,086                                         3,194,993              451,219


              Restricted cash                                        71,056                                            43,001                6,073


              Accounts receivable                                     3,398                                            33,902                4,788


              Contract assets, net                                2,398,685                                         1,873,548              264,596


              Contract cost                                         160,003                                           149,917               21,172


              Prepaid expenses and other
               assets                                             1,333,221                                           868,462              122,651


              Loans at fair value                                   418,492                                           313,267               44,242


              Financing receivables                                  29,612                                            33,381                4,714


              Amounts due from related
               parties                                              988,853                                         1,583,859              223,684


              Held-to-maturity investments                            6,627                                             4,399                  621


              Available-for-sale
               investments                                          460,991                                           456,061               64,408


              Property, equipment and
               software, net                                        195,855                                           188,880               26,675


              Deferred tax assets                                    45,407                                            42,084                5,943


              Right-of-use assets                                   334,134                                           291,028               41,101



     Total assets                                                9,644,420                                         9,076,782            1,281,887



              Accounts payable                                       43,583                                            39,068                5,517


              Amounts due to related parties                        106,645                                           112,034               15,822


              Liabilities from quality
               assurance program and
               guarantee                                              4,397                                             3,487                  492


              Deferred revenue                                      358,203                                           254,933               36,003


              Accrued expenses and other
               liabilities                                        2,338,745                                         1,946,205              274,858


              Refund liability                                    1,801,535                                         1,760,942              248,692


              Deferred tax liabilities                              218,888                                           216,304               30,549


              Lease liabilities                                     282,334                                           259,197               36,606



     Total liabilities                                           5,154,330                                         4,592,170              648,539



              Ordinary shares                                           121                                               121                   17


              Additional paid-in capital                          5,038,691                                         5,045,268              712,528


              Treasury stock                                       (37,097)                                         (37,097)             (5,239)


              Accumulated other
               comprehensive income                                  21,855                                            18,671                2,637


              Accumulated deficit                                 (533,480)                                        (542,351)            (76,595)


      Total (deficit)/equity                                      4,490,090                                         4,484,612              633,348



      Total liabilities and equity                                9,644,420                                         9,076,782            1,281,887


                                            
         
             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



                                                                 March 31, 2019                                        March 31, 2020        March 31, 2020



                                                  
           
                RMB                           
              
                RMB         
     
           USD



                   Operating Highlights


      Amount of p2p investment                                       11,435,588                                              5,203,747                734,909


      Number of p2p investors                                           200,780                                                 78,256                 78,256


      Amount of non-p2p investment                                      328,708                                              2,163,313                305,518


      Number of non-p2p investors                                        14,022                                                 18,809                 18,809


      Amount of loans facilitated                                    10,934,923                                              1,839,454                259,781



     Number of borrowers                                               149,715                                                115,420                115,420


      Remaining principal of
       performing loans                                              63,213,843                                             42,063,039              5,940,436




                   Segment Information



     Wealth management:



     Revenue                                                           521,434                                                415,876                 58,733


      Sales and marketing expenses                                      143,904                                                 67,326                  9,508





     Consumer credit:



     Revenue                                                         1,458,974                                                607,784                 85,836


      Sales and marketing expenses                                      984,041                                                549,115                 77,550




                   Reconciliation of Adjusted
                    EBITDA



     Net income                                                        369,134                                                 19,219                  2,714



     Interest income, net                                             (23,875)                                              (25,116)               (3,547)



     Income tax expense                                                 76,534                                                  3,936                    556


      Depreciation and amortization                                      32,502                                                 27,171                  3,837


      Share-based compensation                                           14,699                                                  4,541                    641




     Adjusted EBITDA                                                   468,994                                                 29,751                  4,201



                   Adjusted EBITDA margin                                 23.7%                                                  2.9%                  2.9%


                                      
      
                Delinquency Rates

                                                 ---

                                    
      
        Delinquent for



                                         15-29 days                     30-59 days 60-89 days



                   All Loans



     December 31, 2015                        0.7%                           1.2%       0.9%



     December 31, 2016                        0.6%                           0.9%       0.8%



     December 31, 2017                        0.8%                           1.0%       0.8%



     December 31, 2018                        1.0%                           1.8%       1.7%



     December 31, 2019                        1.2%                           2.0%       1.7%



     March 31, 2020                           1.6%                           4.1%       3.2%




                   Online Channels



     December 31, 2015                        0.5%                           0.8%       0.6%



     December 31, 2016                        0.5%                           0.9%       0.8%



     December 31, 2017                        1.1%                           1.1%       0.9%



     December 31, 2018                        1.2%                           2.3%       2.2%



     December 31, 2019                        1.6%                           2.9%       2.5%



     March 31, 2020                           1.9%                           5.2%       3.8%




                   Offline Channels



     December 31, 2015                        0.7%                           1.2%       1.0%



     December 31, 2016                        0.6%                           0.9%       0.8%



     December 31, 2017                        0.6%                           0.9%       0.7%



     December 31, 2018                        0.9%                           1.6%       1.5%



     December 31, 2019                        1.0%                           1.7%       1.5%



     March 31, 2020                           1.6%                           3.7%       3.1%


                                       
              
         M3+ Net Charge-Off Rate

                                                      ---

            Loan                                                                                                                Total Net Charge-Off
           Issued                                                                                                                        Rate
           Period         Amount of Loans Facilitated                                Accumulated M3+ Net Charge-Off
                    During the Period                                         as of March 31, 2020                   as of March 31, 2020

    ---

                  
          (in RMB thousands)                               
              (in RMB thousands)


       
     
       2015                          53,143,029                                                      4,455,505                              8.4%


       
     
       2016                          53,805,112                                                      5,071,489                              9.4%


       
     
       2017                          69,883,293                                                     11,506,013                             16.5%


       
     
       2018                          63,176,149                                                      9,989,880                             15.8%


       
     
       2019                          39,103,048                                                      2,018,636                              5.2%


                 
        
           M3+ Net Charge-Off Rate


            Loan                          
              
               Month on Book
     Issued
     Period

       ---

                      4     7       10         13        16         19         22     25     28     31  34


     2015Q1        0.8% 2.0%    3.4%      4.7%      5.7%     6.5%      7.1%      7.5%  7.7%  7.8%  7.8%


     2015Q2        0.8% 2.3%    3.8%      5.2%      6.4%     7.3%      7.9%      8.3%  8.5%  8.7%  8.8%


     2015Q3        0.4% 1.6%    3.1%      4.4%      5.6%     6.5%      7.1%      7.6%  7.9%  8.1%  8.4%


     2015Q4        0.4% 1.6%    3.1%      4.4%      5.5%     6.3%      6.9%      7.4%  7.9%  8.3%  8.5%


     2016Q1        0.3% 1.2%    2.5%      3.6%      4.5%     5.2%      5.8%      6.4%  7.0%  7.4%  7.6%


     2016Q2        0.4% 1.6%    3.1%      4.3%      5.2%     6.0%      6.8%      7.6%  8.1%  8.4%  8.7%


     2016Q3        0.3% 1.6%    3.1%      4.3%      5.4%     6.6%      7.8%      8.6%  9.2%  9.5%  9.8%


     2016Q4        0.2% 1.5%    2.9%      4.4%      5.9%     7.4%      8.4%      9.3% 10.0% 10.4% 10.7%


     2017Q1        0.3% 1.5%    3.2%      5.1%      7.1%     8.6%      9.8%     10.8% 11.5% 12.0% 12.2%


     2017Q2        1.1% 2.9%    5.6%      8.4%     10.4%    12.1%     13.5%     14.5% 15.3% 15.8%


     2017Q3        0.3% 2.9%    6.4%      9.1%     11.6%    13.6%     15.0%     16.2% 16.9%


     2017Q4        0.5% 3.9%    7.3%     10.5%     13.2%    15.3%     16.9%     18.0%


     2018Q1        0.4% 3.0%    6.6%     10.1%     12.9%    15.2%     16.9%


     2018Q2        0.5% 3.6%    7.4%     10.8%     13.6%    15.8%


     2018Q3        0.4% 3.0%    6.2%      9.1%     11.7%


     2018Q4        0.3% 2.5%    5.6%      8.6%


     2019Q1        0.2% 2.5%    5.6%


     2019Q2        0.3% 2.9%


     2019Q3        0.3%

View original content:http://www.prnewswire.com/news-releases/yiren-digital-reports-first-quarter-2020-financial-results-301082237.html

SOURCE Yiren Digital