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Xiaoying Technology's Q3 Financial Report: Financial Technology Upholds Integrity and Upgrades, and Xiaoying Technology Continues to Drive High Quality Development of the Real Economy

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On November 23, 2023 Beijing time, China's leading financial technology company Xiaoying Technology released its unaudited financial results for the third quarter as of September 30, 2023.
Xiaoying Technology maintained excellent asset quality in the third quarter, continuously unleashing business potential, and highlighting the overall characteristics of stable operation. Financial data shows that the total amount of loans matched and provided in the third quarter of 2023 was RMB 29.462 billion; The total net income for the third quarter of 2023 was RMB 1.3969 billion.
Mr. Tang Yue, the founder, CEO, and chairman of the company, said: We are pleased to see strong performance continue to be achieved in the third quarter under our strategic deployment. Our total amount of matching and providing loans has reached the high point of our previous guidance goals. Looking ahead, we will continue to implement our effective strategy to enhance our long-term growth and return to shareholders.
Continuously improving business indicators, safeguarding the development of the real economy
Under the guidance of policies, China's real economy showed sustained upward vitality in the third quarter, with a significant recovery in the consumer market and consumer confidence. The real economy, which accounts for half of the GDP, is a vital force in ensuring people's livelihoods, promoting innovation, and promoting high-quality economic development. Xiaoying Technology closely follows the changes that have occurred in the macro market, continues to penetrate the market, deeply cultivates services for small and medium-sized enterprises, and drives new development of the real economy with its own technological strength.
High quality economic development cannot be achieved without the support of financial "living water". Since the beginning of this year, Xiaoying Technology has focused on the development of key areas, optimized financial services, actively expanded channels and diverted water for the real economy, and helped market entities strengthen confidence and promote development. Financial data shows that the total amount of loans matched and provided in the third quarter of 2023 was RMB 29.462 billion; The total net income in the third quarter of 2023 was RMB 1.3969 billion; The operating profit for the third quarter of 2023 was RMB 434.7 million.
Mr. Zheng Fuya, Chief Financial Officer of the company, said: We are very satisfied with the stable financial performance in the third quarter. The total net income reached RMB 1.397 billion. We remain committed to achieving long-term balanced growth in revenue and profits. To achieve this goal, we will closely monitor market dynamics and comprehensively consider customer acquisition costs and risk control to ensure sustainable growth of our revenue and profits.
Comprehensively Building a Win Protect System and Writing a New Chapter of "Consumer Protection for the People"
Financial services serve the people, while consumer protection promotes development. In recent years, with the increasingly diversified, multi-level, and multi scenario financial consumption needs of the people, financial products have become more specialized, complex, and comprehensive, with multiple fields and channels intersecting horizontally and vertically, posing higher challenges to financial consumer protection work. On September 15th, Li Yunze, Director of the State Administration of Financial Supervision and Administration, stated at the launch ceremony of the "2023 Financial Consumer Rights Protection Education Promotion Month" that doing a good job in protecting the rights and interests of financial consumers is a concentrated reflection of practicing the political and people-oriented nature of financial work.
Since its establishment, Xiaoying Technology has always regarded safeguarding the fundamental interests of the broadest masses as the starting point and foothold of all work. Using one's own technology to achieve "technology for the good" and "finance for the people" will be an important issue in achieving high-quality development. Continuously benefiting the real economy and users through technology, safeguarding user rights and maximizing technological value, is also an important prerequisite for the high-quality development of fintech companies in the future.
According to financial report data, the loan balance as of September 30, 2023 is RMB 49.685 billion. Achieving such success is the result of Xiaoying Technology continuously penetrating into the user community in its business, thinking about what users want, understanding their needs, and wholeheartedly safeguarding their interests.
In order to continuously strengthen the protection of financial consumer rights and interests, Xiaoying Technology, under the guidance of policies, continuously improves the mechanism for protecting financial consumer rights and interests, and utilizes its own technological strength to implement the protection of user rights and interests.
In the third quarter, through independent core technology accumulation and specialized research and development, Xiaoying Technology built a "five in one" consumer rights protection system - WinPROT Win Protection System, which has five important functions: fraud prevention and anti black production, building data security, efficient customer service, innovative technology empowerment, and practicing user consumer protection education. It is worth mentioning that the WinPROT win protection system runs through the entire business chain with risk control technology developed by Xiaoying Technology itself, which can provide full process, multi node user reminders and intelligent interception for potential fraudulent behavior on the platform. As a result, it significantly improves the pre fraud identification rate, fraud response efficiency, and post fraud case mining efficiency, and strengthens the protection of consumer financial security.
Xiaoying Technology utilizes its own financial technology strength to practice consumer rights protection work, while also demonstrating the combination of technology and services, products and experiences, rationality and perception, jointly pushing consumer rights protection work to new heights and writing a new chapter for high-quality development in the future. Not only that, in the third quarter of this year's financial consumer rights protection education and promotion month, Xiaoying Technology actively utilized media resources to promote consumer protection and anti fraud around multiple dimensions of financial consumer rights protection, reaching the end of users deeply, benefiting "one old, one small" and new citizen users. As a result, the quality of users has been further improved, and the asset base of Xiaoying Technology has also been further consolidated.
Deeply cultivate for nine years, never forget the original intention of finance, and strive towards good deeds and stability
The Central Bank's "Financial Technology Development Plan (2022-2025)" points out that financial technology should achieve "digital driven, smart for the people, green and low-carbon, fair and inclusive". Undoubtedly, the development concept of Xiaoying Technology is in line with this. In the nine years of practicing "serving the people", Xiaoying Technology has developed into a financial technology enterprise with social responsibility and innovative spirit. Following the trend of the times, demonstrating corporate responsibility, and gathering forces for good are the key to Xiaoying Technology's stable and far-reaching development.
In the second quarter of this year, Xiaoying Technology officially released the "2022 Corporate Social Responsibility Report", which systematically showcases the company's "transcript" of creating public and social value. Emphasize that under the corporate culture of adhering to user first, innovation and sharing, fearing risks, and openness and equality, let technology serve finance, let finance serve the real economy and the vast new citizen group, and actively fulfill social responsibilities. As a "connector" between the real economy and banking financial institutions, Xiaoying Technology fully leverages its role as a "link" and continues to increase support for small and micro enterprises, individual businesses, and new citizen groups through its successively launched "Micro Light Plan", "Win New Plan", and "City Light Assistance Plan". By optimizing market supply, we can promote high-quality economic and financial development and achieve our own development to a new level.
Not only that, Xiaoying Technology actively shoulders social responsibility and participates in the development of social public welfare undertakings. It has established the Xiaoying Public Welfare Foundation, which focuses on the development of public welfare undertakings, and created the rural boarding school plan Xiaoying Chengxiao Public Welfare Project. Assist rural children in healthy growth from aspects such as improving their living environment, promoting reading, and managing their daily lives. Xiaoying Public Welfare strives to become a promoter and advocate of social public welfare, making a modest contribution to social welfare.
Li Kan, President of Xiaoying Technology, said: After nine years of development, we will not forget our original intention and keep our mission in mind. Deeply cultivating the real economy and providing services to small and medium-sized enterprises, Xiaoying Technology has always shouldered heavy responsibilities and committed itself to the future. At present, new development and opportunities are in front of us, which also puts forward higher goals and requirements. Financial technology provides high-quality services for the real economy, achieving high-quality development, and will become a guide for the advancement of small win technology. At the same time, we will continue to consolidate the foundation of compliance development, enhance our technological strength, listen to the needs and thoughts of the market and users, and continuously improve the consumer rights protection system. We will work hand in hand with more financial institutions to write a new chapter for the high-quality development of the real economy and finance.
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