31.08.2022, 04:30

Yiren Digital Reports Fourth Quarter and Fiscal Year 2021 Financial Results

BEIJING, Aug. 31, 2022 /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading digital personal financial management platform in China, today announced its unaudited financial results for the fourth quarter and the fiscal year ended December 31, 2021.

Fourth Quarter 2021 and Fiscal Year 2021 Operational Highlights

Wealth Management

  • Cumulative number of investors served reached 2,702,122 as of December 31, 2021, representing an increase of 3.4% from 2,612,279 as of September 30, 2021 and compared to 2,326,169 as of December 31, 2020.
  •  Number of active investors[1] was 424,366 as of December 31, 2021, representing a decrease of 0.8% from 427,873 as of September 30, 2021 and compared to 163,593 as of December 31, 2020. The quarter-over-quarter decline was primarily due to a decline in the insurance segment as a result of optimization in insurance product mix, which was offset by the rapid growth in customer base on Yiren Wealth platform.
  • Total client assets[2] was RMB19,261.0 million (US$3,022.5 million) as of December 31, 2021, representing an increase of 10.6% from RMB17,415.3 million as of September 30, 2021 and compared to RMB8,550.7 million as of December 31, 2020.
  • Sales volume of investment products amounted to RMB5,391.8 million (US$846.1 million) in the fourth quarter of 2021, representing an increase of 7.2% from RMB5,030.2 million in the third quarter of 2021 and compared to RMB6,836.9 million in the same period of 2020. For the fiscal year of 2021, sales volume of investment products reached RMB21,588.6 million (US$3,387.7 million), compared to RMB15,779.7 million in 2020.

Consumer Credit

  • Total loans facilitated under loan facilitation model in the fourth quarter of 2021 reached RMB6.2 billion (US$1.0 billion), representing a decrease of 9.8% from RMB6.8 billion in the third quarter of 2021 and compared to RMB4.2 billion in the fourth quarter of 2020.
  • Cumulative number of borrowers served reached 6,127,068 as of December 31, 2021, representing an increase of 4.9% from 5,840,424 as of September 30, 2021 and compared to 5,249,936 as of December 31, 2020.
  • Number of borrowers served in the fourth quarter of 2021 was 618,131, representing an increase of 12.7% from 548,495 in the third quarter of 2021 and compared to 189,117 in the fourth quarter of 2020. Total number of borrowers served in 2021 was 1,297,046.
  • Outstanding balance of performing loans facilitated under loan facilitation model reached RMB14,102.3 million (US$2,213.0 million) as of December 31, 2021, representing an increase of 2.2% from RMB13,793.9 million as of September 30, 2021 and compared to RMB8,863.5 million as of December 31,2020.

Consumption-Driven Services

  • In the second half of 2021, the Company began scaling its e-commerce platform and also launched a "Life Plus Finance" initiative ("Yiren Select"), integrating high quality financial services with online and offline consumption scenarios. Total gross merchandise volume generated through both channels reached RMB61.6 million (US$9.7 million) in the fourth quarter of 2021.

[1] Active investors refer to those who have made at least one investment through our wealth management platform or have had client assets with us above zero in the past twelve months.

[2] Client assets refer to the outstanding balance of client assets generated through our platforms, where an asset is counted towards the outstanding balance for so long as it continues to be held by the investor who acquired it through our platform.

"Looking back at the year of 2021, we are pleased to announce another concrete milestone during the journey of our business transitions towards China's leading digital personal financial management platform, with our revenue structure further diversifying and our business volume and profitability resuming to a healthy growth rate post the restructuring, meeting our previous guidance for both wealth management and credit-tech business lines," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital.

"On wealth management, the growth momentum remains strong with contribution to our total net revenue reaching more than 35% in the fourth quarter of 2021, a historical high. Specially, our total client asset reached RMB19.3 billion as of December 31, 2021, representing an increase of 11% compared to the end of prior quarter. Notably, total investor base on Yiren Wealth platform saw an accelerated growth due to our Yiren Select initiative. In the fourth quarter of 2021, the number of new investors on Yiren Wealth increased by 22% on a quarter-over-quarter basis and the number of investors who held at least two different asset classes grew by 15% compared with the third quarter of 2021. Moreover, our insurance brokerage business has been growing at a higher-than-expected rate with total premiums reaching RMB888 million in the fourth quarter of 2021, representing a 21% quarterly growth, which is a sharp contrast to the overall industry downside cycle."

"On credit-tech we have seen a visible evolvement in our overall loan portfolio as we continue to optimize our product mix and shift towards higher credit quality customer segments, moving in full swing towards guided APR with stable unit economics. Currently, 99% of our new loans facilitated are small revolving loans and SME loans, compared to 71% in the year of 2021, leading to a shorter-tenor portfolio with lower operating and credit costs, which is more flexible to adjust to external environment. Moreover, our e-commerce platform launched in August 2021, has started to contribute revenue with rapid growth, effectively driving up our user activities and establishing a more diversified finance consumption ecosystem."

"The year of 2021 ended with strong earnings. Excluding one-time business disposal expense incurred in the fourth quarter of 2020, total net income for the year of 2021 was more than RMB1.0 billion, compared to a loss of RMB36.9 million in 2020, beating our internal target with fast business recovery and optimized operational efficiency," said Ms. Na Mei, Chief Financial Officer of Yiren Digital. "On the balance sheet side, our cash position grows stronger with RMB3.0 billion cash and short-term investment as of December 31, 2021, an increase of 17% compared with the end of the last quarter, providing sufficient fuel for any further business expansion that we may have in the future."

Fourth Quarter 2021 Financial Results

Total net revenue in the fourth quarter of 2021 was RMB1,020.9 million (US$160.2 million), compared to RMB1,160.9 million in the same period of 2020. Specifically, in the fourth quarter of 2021, revenue from wealth management business was RMB372.3 million (US$58.4 million), and revenue from credit business was RMB615.5 million (US$96.6 million). Excluding the impact from the disposed business line, total net revenue in the fourth quarter of 2021 increased by 15.9% compared with the same period in 2020.

Sales and marketing expenses in the fourth quarter of 2021 were RMB304.1 million (US$47.8 million), compared to RMB295.1 million in the same period of 2020. The increase was primarily due to the continued expansion of our insurance brokerage business, which is offset by the optimization of cost structure in our offline business.

Origination, servicing and other operating costs in the fourth quarter of 2021 were RMB216.8 million (US$34.0 million), compared to RMB596.9 million in the same period of 2020. The decrease was primarily due to the improved cost efficiency after the business restructuring completed on December 31, 2020.

General and administrative expenses in the fourth quarter of 2021 were RMB119.4 million (US$18.8 million), compared to RMB149.3 million in the same period of 2020. The decrease was mainly due to the optimization of the company's offline business.

Allowance for contract assets, receivables and others in the fourth quarter of 2021 was RMB51.9 million (US$8.1 million), compared to RMB34.5 million in the same period of 2020. The increase was primarily driven by the growth of loan volumes facilitated.

Income tax expense in the fourth quarter of 2021 was RMB5.4 million (US$0.8 million).

Net income in the fourth quarter of 2021 was RMB330.8 million (US$51.9 million), as compared to net loss of RMB559.6 million in the same period of 2020. The change was primarily due to the one-time expense of business disposal during the restructuring completed on December 31, 2020.

Adjusted EBITDA[3] (non-GAAP) in the fourth quarter of 2021 was RMB353.4 million (US$55.5 million), compared to RMB48.9 million in the same period of 2020.

Basic and diluted income per ADS in the fourth quarter of 2021 was RMB3.9 (US$0.6), compared to a basic loss per ADS of RMB6.7 and a diluted loss per ADS of RMB6.7 in the same period of 2020.

Net cash generated from operating activities in the fourth quarter of 2021 was RMB189.4 million (US$29.7 million), compared to net cash used in operating activities of RMB219.1 million in the same period of 2020.

Net cash used in investing activities in the fourth quarter of 2021 was RMB381.9 million (US$59.9 million), compared to net cash used in investing activities of RMB981.1 million in the same period of 2020.

As of December 31, 2021, cash and cash equivalents was RMB2,864.5 million (US$449.5 million), compared to RMB2,328.4 million as of September 30, 2021. As of December 31, 2021, the balance of held-to-maturity investments was RMB2.2 million (US$0.3 million), compared to RMB2.2 million as of September 30, 2021. As of December 31, 2021, the balance of available-for-sale investments was RMB177.4 million (US$27.8 million), compared to RMB277.9 million as of September 30, 2021.

Delinquency rates. As of December 31, 2021, the delinquency rates for loans that are past due for 15-29 days, 30-59 days and 60-89 days were 0.9%, 1.5% and 1.2% respectively, compared to 0.5%, 0.7% and 0.6% respectively as of December 31, 2020.

Cumulative M3+ net charge-off rates. As December 31, 2021, the cumulative M3+ net charge-off rate for loans originated in 2018, 2019 and 2020 was 9.8%, 11.4% and 5.8% respectively, as compared to 9.9%, 11.0% and 4.8% respectively as of September 30, 2021.

[3] "Adjusted EBITDA" is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of "Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures" and the table captioned "Reconciliations of Adjusted EBITDA" set forth at the end of this press release.

Fiscal Year 2021 Financial Results

Total net revenue in 2021 was RMB4,477.9 million (US$702.7 million), compared to RMB3,962.0 million in 2020. Specifically, revenue from wealth management business in 2021 was RMB1,260.5 million (US$197.8 million), and revenue from credit business in 2021 was RMB3,184.3 million (US$499.7 million). Excluding the impact from the disposed business line, total net revenue in the year of 2021 increased by 92.8% compared with the year of 2020. The increase was primarily due to the business recovery from the COVID-19 pandemic and continued growth in the sales volume of current investment products and loans facilitated under loan facilitation model post the restructuring.

Sales and marketing expenses in 2021 was RMB1,553.3 million (US$243.8 million), compared to RMB1,905.1 million in 2020. The decrease was primarily due to the optimization of the Company's offline business.

Origination, servicing and other operating costs in 2021 was RMB760.9 million (US$119.4 million), compared to RMB1,104.7 million in 2020. The decrease was mainly due to the improved cost efficiency after the business restructuring completed on December 31, 2020.

General and administrative expenses in 2021 was RMB506.2 million (US$79.4 million), compared to RMB630.6 million in 2020. The decrease was primarily due to the optimization of our offline business and the overall improvement of cost efficiency.

Allowance for contract assets, receivables and others in 2021 was RMB370.2 million (US$58.1 million), which remained stable compared to RMB371.6 million in 2020.

Income tax expense in 2021 was RMB170.2 million (US$26.7 million).

Net income in 2021 was RMB1,033.0 million (US$162.1 million), compared to a net loss of RMB692.7 million in 2020. The income was driven by the resumption of business growth as well as improving operational efficiencies post the pandemic outbreak.

Adjusted EBITDA (non-GAAP) in 2021 was RMB1,338.9 million (US$210.1 million), compared to a loss of RMB73.2 million in 2020. Adjusted EBITDA margin1 (non-GAAP) in 2021 was 29.9%, compared to a loss of 1.8% in 2020.

Basic and diluted income per ADS in 2021 were RMB12.2 (US$1.9) and RMB12.1 (US$1.9) respectively, compared to a loss per ADS of RMB7.7 and a diluted loss per ADS of RMB7.7 in 2020.

Net cash generated from operating activities in 2021 was RMB158.2 million (US$24.8 million), compared to net cash generated from operating activities of RMB282.0 million in 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 RMB6.3726 to US$1.00, the effective noon buying rate on December 31, 2021, as set forth in the H.10 statistical release of the Federal Reserve Board.

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. is a leading digital personal financial management platform in China. The Company provides customized, asset allocation based wealth management solutions to China's mass affluent population as well as utilizes online and offline channels to provide retail credit facilitation services to individual borrowers and small business owners.

 

 

 

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 Year Ended 


December
31, 2020


September
30, 2021


December
31, 2021


December
31, 2021



December 31,
2020


December 31,
2021


December
31, 2021


RMB


RMB


RMB


USD



RMB


RMB


USD

Net revenue:















Loan facilitation services

393,682


601,283


410,988


64,493



1,329,720


2,105,776


330,442

Post-origination services

201,873


39,024


49,861


7,824



670,440


174,255


27,344

Account management services

50,566


-


-


-



921,779


-


-

Insurance brokerage services

308,790


199,406


244,780


38,411



430,830


755,691


118,584

Financing services

54,348


144,614


140,027


21,973



59,658


524,840


82,359

Electronic commerce services

-


-


33,114


5,196



-


33,114


5,196

Others

151,592


247,664


142,170


22,311



549,535


884,253


138,760

Total net revenue

1,160,851


1,231,991


1,020,940


160,208



3,961,962


4,477,929


702,685

Operating costs and expenses:















Sales and marketing

295,133


407,172


304,114


47,722



1,905,095


1,553,344


243,754

Origination,servicing and other operating
costs

596,926


186,915


216,751


34,013



1,104,682


760,858


119,395

General and administrative

149,276


139,321


119,364


18,731



630,555


506,240


79,440

Allowance for contract assets, receivables
and others

34,520


83,578


51,911


8,146



371,629


370,154


58,085

Loss of disposal

655,839


-


-


-



655,839


-


-

Total operating costs and expenses

1,731,694


816,986


692,140


108,612



4,667,800


3,190,596


500,674

Other income/(expenses):















Interest income/(expense), net

8,554


(21,565)


(18,056)


(2,833)



61,623


(73,383)


(11,515)

Fair value adjustments related to
Consolidated ABFE

(54,106)


(526)


11,720


1,839



(143,988)


(37,442)


(5,875)

Others, net

3,444


3,934


2,935


460



14,844


26,665


4,183

Total other expenses

(42,108)


(18,157)


(3,401)


(534)



(67,521)


(84,160)


(13,207)

(Loss)/income before provision for income
taxes

(612,951)


396,848


325,399


51,062



(773,359)


1,203,173


188,804

Income tax (benefit)/expense

(53,342)


75,923


(5,366)


(842)



(80,611)


170,189


26,706

Net (loss)/income

(559,609)


320,925


330,765


51,904



(692,748)


1,032,984


162,098
















Weighted average number of ordinary shares
outstanding, basic

167,964,040


170,193,542


169,967,125


169,967,125



180,301,898


169,029,826


169,029,826

Basic (loss)/income per share

(3.3317)


1.8856


1.9461


0.3054



(3.8422)


6.1113


0.9590

Basic (loss)/income per ADS

(6.6634)


3.7712


3.8922


0.6108



(7.6844)


12.2226


1.9180
















Weighted average number of ordinary shares
outstanding, diluted

167,964,040


171,571,392


171,171,951


171,171,951



180,301,898


170,590,203


170,590,203

Diluted (loss)/income per share

(3.3317)


1.8705


1.9324


0.3032



(3.8422)


6.0554


0.9502

Diluted (loss)/income per ADS

(6.6634)


3.7410


3.8648


0.6064



(7.6844)


12.1108


1.9004
















Unaudited Condensed Consolidated Cash
Flow Data















Net cash (used in)/generated from operating
activities

(219,069)


323,819


189,377


29,717



282,028


158,192


24,824

Net cash  (used in)/provided by investing
activities

(981,096)


(233,782)


381,870


59,924



(1,796,663)


(346,507)


(54,374)

Net cash provided by/(used in) financing
activities

899,487


49,770


(45,831)


(7,192)



955,448


427,446


67,076

Effect of foreign exchange rate changes

(538)


(257)


(283)


(44)



(2,807)


(936)


(147)

Net (decrease)/increase in cash, cash
equivalents and restricted cash

(301,216)


139,550


525,133


82,405



(561,994)


238,195


37,379

Cash, cash equivalents and restricted cash,
beginning of period

3,008,364


2,280,660


2,420,210


379,785



3,269,142


2,707,148


424,811

Cash, cash equivalents and restricted cash,
end of period

2,707,148


2,420,210


2,945,343


462,190



2,707,148


2,945,343


462,190

 

 

 

Unaudited Condensed Consolidated Balance Sheets

 (in thousands)



As of


December 31,
2020


September 30,
2021


December 31,
2021


December 31,
2021


RMB


RMB


RMB


USD









        Cash and cash equivalents

2,469,909


2,328,380


2,864,543


449,511

        Restricted cash

237,239


91,830


80,800


12,679

        Accounts receivable

122,742


258,729


305,018


47,864

        Contract assets, net

750,174


1,191,497


1,105,905


173,541

        Contract cost

65,529


34,707


9,959


1,563

        Prepaid expenses and other assets

278,591


358,052


352,015


55,239

        Loans at fair value

192,156


82,474


73,734


11,571

        Financing receivables

1,253,494


1,969,456


1,697,962


266,449

        Amounts due from related parties

884,006


768,646


879,256


137,974

        Held-to-maturity investments

3,286


2,200


2,200


341

        Available-for-sale investments

175,515


277,934


177,360


27,832

        Property, equipment and software, net

147,193


115,326


102,548


16,092

        Deferred tax assets

16,745


6,285


7,388


1,159

        Right-of-use assets

105,674


70,897


80,752


12,672

Total assets

6,702,253


7,556,413


7,739,440


1,214,487

        Accounts payable

9,903


36,799


19,065


2,992

        Amounts due to related parties

970,309


474,925


434,127


68,124

        Deferred revenue

50,899


11,862


12,379


1,943

        Payable to investors at fair value

52,623


50,814


50,686


7,954

        Accrued expenses and other liabilities

1,208,915


1,245,263


1,182,783


185,604

        Secured borrowings

500,500


1,038,600


1,028,600


161,410

        Refund liability

10,845


5,927


5,732


899

        Deferred tax liabilities

38,741


147,575


112,535


17,659

        Lease liabilities

81,854


53,194


72,101


11,314

Total liabilities

2,924,589


3,064,959


2,918,008


457,899

        Ordinary shares

121


123


123


19

        Additional paid-in capital

5,058,176


5,096,994


5,100,486


800,378

        Treasury stock

(40,147)


(42,502)


(42,897)


(6,731)

        Accumulated other comprehensive income

17,108


14,442


11,553


1,812

        Accumulated deficit

(1,257,594)


(577,603)


(247,833)


(38,890)

Total equity

3,777,664


4,491,454


4,821,432


756,588

Total liabilities and equity

6,702,253


7,556,413


7,739,440


1,214,487

 

 

 

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 Year Ended 


December 31,
2020


September 30,
2021


December 31,
2021


December 31,
2021



December 31,
2020


December 31,
2021


December 31
2021


RMB


RMB


RMB


USD



RMB


RMB


USD

Operating Highlights















Amount of investment in current investment
products

6,836,906


5,030,228


5,391,760


846,085



15,779,685


21,588,645


3,387,729

Number of investors in current investment
products

99,112


127,378


144,987


144,987



153,700


409,281


409,281

Amount of loans facilitated under loan facilitation
model

4,202,538


6,841,921


6,170,158


968,232



9,614,819


23,195,224


3,639,837

Number of borrowers

189,117


548,495


618,131


618,131



525,320


1,297,046


1,297,046

Remaining principal of performing loans
facilitated under loan facilitation model

8,863,461


13,793,925


14,102,279


2,212,955



8,863,461


14,102,279


2,212,955

Electronic commerce of gross merchandise
volume

-


-


61,619


9,669



-


61,619


9,669
















Segment Information















Wealth management:















Revenue

413,057


337,627


372,304


58,423



1,432,364


1,260,513


197,803

Sales and marketing expenses

39,012


55,463


75,842


11,901



195,671


199,336


31,281

Origination,servicing and other operating costs

266,492


159,348


156,243


24,518



442,507


598,606


93,934
















Consumer credit:















Revenue

747,794


894,364


615,522


96,589



2,529,598


3,184,302


499,686

Sales and marketing expenses

256,121


351,709


227,508


35,702



1,709,424


1,353,244


212,353

Origination,servicing and other operating costs

330,434


27,567


53,396


8,379



662,175


155,140


24,345
















Others:















Revenue

-


-


33,114


5,196



-


33,114


5,196

Sales and marketing expenses

-


-


764


119



-


764


120

Origination,servicing and other operating costs

-


-


7,112


1,116



-


7,112


1,116































Reconciliation of Adjusted EBITDA















Net (loss)/income

(559,609)


320,925


330,765


51,904



(692,748)


1,032,984


162,098

Interest (income)/expense, net

(8,554)


21,565


18,056


2,833



(61,623)


73,383


11,515

Income (benefit)/tax expense

(53,342)


75,923


(5,366)


(842)



(80,611)


170,189


26,706

Depreciation and amortization

16,829


8,449


7,466


1,172



91,772


43,236


6,785

Share-based compensation

(2,274)


11,742


2,497


392



14,173


19,089


2,995

Adjusted EBITDA

48,889


438,604


353,418


55,459



(73,198)


1,338,881


210,099

Adjusted EBITDA margin

4.2 %


35.6 %


34.6 %


34.6 %



-1.8 %


29.9 %


29.9 %

 

 

 

Delinquency Rates (Loan Facilitation Model)



15-29 days


30-59 days


60-89 days

All Loans







December 31, 2015

1.3 %


1.9 %


1.5 %

December 31, 2016

0.6 %


0.8 %


0.7 %

December 31, 2017

0.5 %


0.8 %


0.6 %

December 31, 2018

1.0 %


1.8 %


1.7 %

December 31, 2019

0.8 %


1.3 %


1.0 %

December 31, 2020

0.5 %


0.7 %


0.6 %

December 31, 2021

0.9 %


1.5 %


1.2 %








Online Channels







December 31, 2015

0.4 %


0.7 %


0.5 %

December 31, 2016

0.8 %


1.1 %


1.7 %

December 31, 2017

0.3 %


0.2 %


0.0 %

December 31, 2018

0.9 %


1.7 %


1.5 %

December 31, 2019

1.0 %


2.1 %


1.6 %

December 31, 2020

0.6 %


1.0 %


1.1 %

December 31, 2021

0.8 %


1.3 %


1.1 %








Offline Channels







December 31, 2015

1.3 %


2.0 %


1.6 %

December 31, 2016

0.6 %


0.8 %


0.7 %

December 31, 2017

0.5 %


0.9 %


0.7 %

December 31, 2018

1.1 %


1.9 %


1.8 %

December 31, 2019

0.7 %


0.9 %


0.7 %

December 31, 2020

0.4 %


0.6 %


0.4 %

December 31, 2021

1.0 %


1.8 %


1.4 %

 

 

 

Net Charge-Off Rate (Loan Facilitation Model)


Loan Issued
Period

Amount of Loans
Facilitated
During the Period


Accumulated M3+ Net
Charge-Off
as of December 31, 2021


Total Net Charge-Off
Rate
as of December 31, 2021

2015

4,530,824


243,840


5.4 %

2016

3,749,815


317,288


8.5 %

2017

5,043,494


523,778


10.4 %

2018

4,211,573


413,071


9.8 %

2019

3,431,443


390,252


11.4 %

2020

9,614,819


560,733


5.8 %

2021Q1-Q3

17,025,066


374,843


2.2 %

 

 

 

M3+ Net Charge-Off Rate (Loan Facilitation Model)

Loan
Issued
Period

Month on Book













2015Q2

1.1 %

2.8 %

4.2 %

5.3 %

6.2 %

6.7 %

7.0 %

7.0 %

6.9 %

6.8 %

6.8 %

2015Q3

0.6 %

2.2 %

3.8 %

5.0 %

5.9 %

6.5 %

6.7 %

6.8 %

6.7 %

6.7 %

6.7 %

2015Q4

1.0 %

1.5 %

2.2 %

2.8 %

3.1 %

3.4 %

3.7 %

4.0 %

4.2 %

4.4 %

4.4 %

2016Q1

0.6 %

0.9 %

1.3 %

1.7 %

2.0 %

2.2 %

2.4 %

2.7 %

2.9 %

3.0 %

3.2 %

2016Q2

0.6 %

1.4 %

2.3 %

3.0 %

3.6 %

4.2 %

4.8 %

5.4 %

5.8 %

6.0 %

6.2 %

2016Q3

0.4 %

1.7 %

2.7 %

4.1 %

5.3 %

6.5 %

7.7 %

8.6 %

9.3 %

9.3 %

9.5 %

2016Q4

0.3 %

2.1 %

3.8 %

5.4 %

7.2 %

9.2 %

10.4 %

11.5 %

12.4 %

12.9 %

13.3 %

2017Q1

0.3 %

1.6 %

3.4 %

5.3 %

7.5 %

8.9 %

10.0 %

10.9 %

11.6 %

12.1 %

12.3 %

2017Q2

4.1 %

5.8 %

7.9 %

9.6 %

11.3 %

12.5 %

13.2 %

13.9 %

14.6 %

14.9 %

15.1 %

2017Q3

0.3 %

1.6 %

3.5 %

4.9 %

6.5 %

7.6 %

8.4 %

8.9 %

9.4 %

9.9 %

10.1 %

2017Q4

0.2 %

2.3 %

5.1 %

6.5 %

7.9 %

9.0 %

9.7 %

10.2 %

10.7 %

11.2 %

10.6 %

2018Q1

0.2 %

2.9 %

5.1 %

6.8 %

7.2 %

7.9 %

8.4 %

8.7 %

9.0 %

8.6 %

8.1 %

2018Q2

0.7 %

4.1 %

7.1 %

9.4 %

11.2 %

12.4 %

13.4 %

14.1 %

14.3 %

14.1 %

14.1 %

2018Q3

0.2 %

2.8 %

3.6 %

4.5 %

5.2 %

6.4 %

7.0 %

7.0 %

6.9 %

7.0 %

6.9 %

2018Q4

0.6 %

2.2 %

3.4 %

5.2 %

6.9 %

9.0 %

9.7 %

9.9 %

9.6 %

9.7 %

9.7 %

2019Q1

0.0 %

0.8 %

2.0 %

3.4 %

5.3 %

5.9 %

6.3 %

6.3 %

6.3 %

6.3 %


2019Q2

0.1 %

1.5 %

4.5 %

7.5 %

8.8 %

9.2 %

9.9 %

10.3 %

10.6 %



2019Q3

0.2 %

2.9 %

6.8 %

9.0 %

10.4 %

12.0 %

13.2 %

13.8 %




2019Q4

0.4 %

3.1 %

4.9 %

6.3 %

7.2 %

7.9 %

8.4 %





2020Q1

0.6 %

2.3 %

4.1 %

5.2 %

6.0 %

6.2 %






2020Q2

0.5 %

2.5 %

4.2 %

5.3 %

6.1 %







2020Q3

1.1 %

3.3 %

5.1 %

6.3 %








2020Q4

0.3 %

1.8 %

3.2 %









2021Q1

0.4 %

2.3 %










2021Q2

0.4 %











 

View original content:https://www.prnewswire.com/news-releases/yiren-digital-reports-fourth-quarter-and-fiscal-year-2021-financial-results-301614873.html


Source: Yiren Digital Related Stocks: NYSE:YRD