Jiayin Group Reports Q1 Financial Results

Jiayin Group (NASDAQ:JFIN), fintech company based in China that launched on the NASDAQ in May announced its unaudited financial results for the first quarter. For the first three months ending March 31, 2019 Jiayin reported US$109 million in net revenue, which was generated in part from loan facilitation services (US88.7 million) and post-origination services (US$10.9 million).

As quoted in the press release:

Net revenue was RMB731.3 million (US$109.0 million), representing a decrease of 25.6% year over year, primarily due to reduced loan origination volume and increased incentive offered to investors in the first quarter of 2019.

Revenue from loan facilitation services was RMB595.4 million (US$88.7 million), representing a decrease of 21.6% year over year, primarily due to reduced loan origination volume and increased incentive offered to investors in the first quarter of 2019.

Revenue from post-origination services was RMB73.4 million (US$10.9 million), representing an increase of 27.8% year over year, primarily due to cumulative effect of increased amount of loans originated during prior periods.

Click here to read the full press release.