Beijing Business Daily News (Reporter Yue Pinyu and Dong Hanxuan) On May 16th, Xinye Technology released its unaudited financial report for the first quarter of 2024. In the first quarter of 2024, Xinye Technology achieved a revenue of 3.165 billion yuan and a net profit of 532 million yuan. In terms of operating indicators, the transaction volume facilitated in the quarter reached 48.3 billion yuan, a year-on-year increase of 11.3%; The loan balance was 65.3 billion yuan, a year-on-year increase of 4.8%.
As of the end of the quarter, Xinye Technology has provided digital services to 102 financial institutions and credit technology services to nearly 31 million users both domestically and internationally.
Xinye Technology stated that the contribution of international business to the group's revenue continues to expand, becoming a strong second growth curve. Xinye Technology has established deeply localized fintech platforms in Indonesia and the Philippines, and has launched technology service businesses in Latin America. In the first quarter, the international business achieved a revenue of 590 million yuan, a year-on-year increase of 32.9%, accounting for 18.8% of the group's total revenue. Among them, the Philippine business brand achieved a high-speed year-on-year growth of 194% in transaction volume during the quarter, and further strengthened close cooperation with local financial institutions. It has now become a leading fintech platform in the local area.
In addition, Xinye Technology invested $27.2 million in share repurchases in the first quarter to continuously enhance shareholder equity. Since 2018, the company has repaid shareholders with a cumulative amount of 630 million US dollars through dividends and repurchases.
Li Tiezheng, CEO of Xinye Technology, said, "In the first quarter of this year, Xinye Technology continued to demonstrate full vitality in the domestic and international markets, and achieved a good start. We are full of confidence in 2024, and the company will continue to deepen its globalization strategy, strengthen technology and service construction, and bring more efficient and accurate digital services to financial institutions, small and micro, and individual user groups."