Q2 2024 Jiayin Group Inc Earnings Call

August 27, 2024

Speaker Change: Good day ladies and gentlemen, thank you for standing by, and welcome to the GI IN Group, second quarter 2024

Operator: in 2024, Earnings Conference Call. Currently, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, we are recording today's call.

Speaker Change: Erning's conference call.

Speaker Change: Currently, all participants are in a listen only mode. Later, we will conduct a question and answer session, and instructions will follow what up time.

Operator: If you have any objections, you may disconnect at this time.

Shawn Zhang: As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. I will now turn the call over to Mr. Shawn Zhang from Investigation of Gying Group. Please proceed.

Shawn Zhang: I will now turn the call over to Mr. Shawn Zhang from Investor Relations of Jiayin Group. Please proceed.

Shawn Zhang: Thank you, operator.

Shawn Zhang: Hello, everyone. Thank you all for joining us on today's conference call to discuss Jiayin Group's financial results for the second quarter of 2024. We released our earnings result earlier today. The press release is available on the company's website as well as from Newswear services.

Shawn Zhang: Thank you all for waiting.

Shawn Zhang: Hello everyone, thank you all for joining us on today's conference course at Discuss Giant Groups.

Speaker Change: Financial Results for the 2nd quarter of 2024. We released our earnings result earlier today. The press release is a witness on the company's website, as well as from newsware services.

Shawn Zhang: On the call with me today, our Mr. Yan Dinggui, Chief Executive Officer, Ms. Fan Chunlin, Chief Financial Officer, and Ms. Xu Yifang, Chief Risk Officer. Before we continue, please note that today's discussion will contain four looking statements made under the Safe Harbor provisions of the U.S. private security litigation reform act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. For their information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statement, except as required under applicable law.

Speaker Change: On the call with me today are Mr. Yang Dinggui, Chief Executive Officer, Mr. Fan Chunlin, Chief Financial Officer and Ms. Xu Yi Feng, Chief Risk Officer.

Speaker Change: Before the week continues.

Speaker Change: Please note that today's discussion will come to him for looking statements made under the safe harbor provisions.

Speaker Change: of the U.S. private security litigation reform at of 1985.

Speaker Change: for our local statements in full imperial risk and uncertainties. As such, the company's actual results may be materially different from the expectations it expressed today.

Speaker Change: for their information regarding these and other risks and uncertainties is included in the company's public findings with the SEC.

Speaker Change: The company does not assume any obligation to update any forward-looking statement, except as required under Applicable Wall.

Shawn Zhang: Also, please note that unless otherwise stated, all figures mentioned during the conference call are in Chinese Yermis B.

Speaker Change: Also, please note that unless otherwise stated, all previous missions during the conference called are in Chinese Army Feeds. With that, let me now turn the call over to our CEO, Mr. Yang, Dinggui, and he's a young with deliverance from boxing in Chinese, and I will follow up with the corresponding English translations.

Shawn Zhang: With that, let me now turn the call over to our CEO, Mr. Yan Dinggui. Mr. Yan will deliver his marks in Chinese, and I will follow up with the corresponding English translations. Please go ahead, Mr. Yan.

Speaker Change: please go ahead and meet for a year.

Dinggui Yan: Hello, everyone. Thank you for joining our second quarter 2020 for Ernie's conference call. In the future, we would like to express our gratitude to Mr. Yan.

Speaker Change: Hello everyone, I'm Yan Xie, I'm Yan Xie, I'm 22 years old, I'm Dinggui, I'm Dinggui, I'll be back soon

Speaker Change: Hello everyone, thank you for joining our second quarter, Tony 24, earnings conference call.

Speaker Change: Xiao Fei Xin's Xu Qiu Wei Jingzhen, Jinggui Gui Qilang's time for Feng Bo, Feng Xian Bo Dong后,目前各向 Feng Xian指标有所改善,然后对于今年下半秒而已,市场 Feng Xian水平的变化

Speaker Change: Master, can you tell us about this?

Speaker Change: and Dinggui Yan's Hong Kong Company will be able to work on the development of the Hong Kong Company.

Speaker Change: Xie Zu, Jingong機構部門

Speaker Change: [inaudible]

Dinggui Yan: This was a time of change in the external environment and deep adjustment in the past year. In the domestic industries and consumption, China's macroeconomic situation is moving forward under pressure with a conscious consumer-created demand. After a period of risk volatility, various risk indicators have improved.

Speaker Change: Reflecting on the second quarter, this was a time of change in the external environment and deep adjustment in domestic industries and consumption.

Speaker Change: China's macroeconomic situation is moving forward under pressure with consumer-quited D-Mine.

Speaker Change: After a period of disc volatility, Varus.

Speaker Change: Risk Indicators have, however, it remains to be seen whether the changes in the market risk levels will continue this trend in the second half of this year, which requires further observation and analysis.

Dinggui Yan: During this challenging period, the company's risk control and technological capabilities were put to the test, but we never stopped assisting financial institution clients in maintaining a strong first line of defense. Against this backdrop of improving risk levels, our team successfully achieved our strategic goals with innovation and firm execution. In the second quarter, the company achieved a loan facilitation volume of RMB 24 billion, a further increase compared with the previous quarter. In addition, the company's achieved net revenue of RMB 1.476 billion, a 15.5% year-over-year increase, continuing our healthy growth momentum. In addition, the company achieved a loan facilitation volume of RMB 24 billion, a 5.5% year-over-year increase, continuing our healthy growth momentum.

Speaker Change: You're in this challenging period.

Speaker Change: The company's risk control and technological capabilities were put to the task.

Speaker Change: But we never stopped assisting financial institution clients in maintaining a strong first line of defense.

Speaker Change: Against dispatch of improving risk levels.

Speaker Change: Our team successfully achieved our strategic goals with innovation and firm execution.

Speaker Change: In the second quarter, the company achieved a long facilitation volume of RMB 24 billion.

Speaker Change: A further increase compared with the previous quarter.

Speaker Change: [inaudible]

Speaker Change: A Chief Net Revenue of RMB 1.476, baby, and a 15.5% year-over-year increase, continuing our healthy good moment on.

Speaker Change: in the K-G-E-U-Sports Championship, and the K-G-E-U-Sports Championship.

Speaker Change: and I have been working on this project for the first time in the world.

Speaker Change: [inaudible]

Speaker Change: You're the best in the world. In the second episode, we're going to tell you about Hong Kong's Intermediate Series.

Speaker Change: Lin Xi, AI, Aijin, Ping Hai, Sai, Lei, Duogu,創新成果 Jiaying is the most important thing to do in the United States to help you.

Speaker Change: In terms of technology, we have actively advanced our retachological transformation. We have continuously explored the use of AI technology in business scenarios.

Speaker Change: In a second quarter, we boot our existing capabilities and integrated AI into several areas, including customer services.

Speaker Change: Internal Communications, Decision Support, Production Monitoring, Productive Maintenance, and Personalized Marketing.

Speaker Change: By leveraging our strong in-house research capabilities, we launched several innovative products in the second quarter. This includes the tongue-long intelligent recommendation system and the Lingxi AI agent platform.

Speaker Change: This advances our part of our commitment to use technological innovation as a driving force to inject deep digital power into the company's business development.

Speaker Change: [inaudible]

Speaker Change: We are going to talk about the situation in the city of Chenqing, the city of Chenqing, Liu Liang, and the city of Chendu, the city of Chendu, the city of Chendu

Speaker Change: Dingxiang was the leader of the team, and the city of Chen Gong.

Speaker Change: Dinggui Liang, Xu Dau, Jia Sang, Ji Rong, Jia Sang, Yin Heng, Mosh, Nian Dongying, Xiangmu. In the past, many of the comrades were in the Lu Li Kodak, Hu Bianjie. They were talking about the past.

Dinggui Yan: In addition, the company achieved a loan facilitation volume of RMB 24 billion, a 5.5% year-over-year increase. Our company has also continued to advance the construction of high quality and sustainable network of cooperative and national institutions. As of June 30th, we have established partnerships with 69 financial institutions and are in talks with an additional 35. Overall, our plans to deepen our cooperation with key partners are progressing well, and we are gradually implementing additional and deep cooperation in created reporting scenarios, traffic cooperation, and other business areas.

Speaker Change: Chu Hefu, in Li's Du Xiang Xin Yan, we are still in推進落地磚引小威起住的火火通道 We support Yu Wei and Du Ho Fan,提供全方位多城市的記者福

Speaker Change: [inaudible] Dinggui, Dinggui,

Operator: in 2024, Earnings Conference Call. Currently, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, we are recording today's call.

Speaker Change: Our company has also continued to advance the construction of high quality and sustainable network of co-operative and natural institutions.

Speaker Change: As of June 30th, we have established partnerships with 69 financial institutions and are in talks with additional 35.

Operator: If you have any objections, you may disconnect at this time.

Shawn Zhang: I will now turn the call over to Mr. Shawn Zhang from Investor Relations of Jiayin Group. Please proceed. Thank you, operator. Hello, everyone. Thank you all for joining us on today's conference call to discuss Jiayin Group's financial results for the second quarter of 2024. We released our earnings results earlier today. The press release is available on the company's website, as well as from Newswear Services. On the call with me today, our Mr. Yan Dinggui Chief Executive Officer, Ms.

Shawn Zhang: I will now turn the call over to Mr. Shawn Zhang from Investor Relations of Jiayin Group. Please proceed. Thank you, operator. Hello, everyone. Thank you all for joining us on today's conference call to discuss Jiayin Group's financial results for the second quarter of 2024. We released our earnings result earlier today. The press release is available on the company's website as well as from Newswear Services. On the call with me today, our Mr. Yan Dinggui Chief Executive Officer, Ms.

Speaker Change: But we're all, our clients to deepen our cooperation with team partners are progressing well and we are gradually implementing additional and deep cooperation in creating reporting scenarios traffic cooperation and other business areas.

Dinggui Yan: As an example of our achievements in the second quarter, we assisted a private bank in connecting targeted asset acquisition channels. We successfully implemented a joint operation project based on the designated traffic channel plus G1 plus bank model. As part of our deepening cooperation with institutions, we are also exploring expanding services and exploring multiple new businesses. Including core long matching services, we are also continuously advancing the channel, docking, and implementation to help attract borrowers for small and macro business owners. Each of these developments is part of our commitment to provide comprehensive and multi-level technical services to our partners.

Speaker Change: [inaudible]

Speaker Change: Example of our achievements in the second quarter, we assisted a private bank in connecting targeted asset acquisition channels. And we successfully implemented a joint operation project based on the

Shawn Zhang: Fan Chunlin, Chief Financial Officer, and Ms. Xu Yifang Chief Risk Officer. Before we continue, please note that today's discussion will contain four looking statements made under the safe harbor provisions of the U.S, private security litigation reform act of 1995. Forward-looking statements involve inherent risk and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. For their information regarding these and other risk and uncertainties, it's included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statement except as required under applicable law. Also, please note that unless otherwise stated, all figures mentioned during the conference call are in Chinese Yermis B.

Shawn Zhang: Fan Chunlin, Chief Financial Officer, and Ms. Xu Yifang Chief Risk Officer. Before we continue, please note that today's discussion will contain four looking statements made under the safe harbor provisions of the U.S, private security litigation reform act of 1995. Forward-looking statements involve inherent risk and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. For their information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statement except as required under applicable law. Also, please note that unless otherwise stated, all figures mentioned during the conference call are in Chinese Yermis B.

Speaker Change: Designated Traffic Channel plus G-Lung plus Bank Model.

Speaker Change: As part of our deepening operation with institutions, we are also exploring its venue services on boundaries and exploring multiple new businesses, including car loan matching services.

Speaker Change: We are also continuously advancing the channel, talking, and the implementation to help borrowers for small and macro business owners.

Speaker Change: These developments is part of our commitment to provide comprehensive and multi-level technical services to our partners. We are continuously striving for high-quality cyclonos.

Dinggui Yan: We are continuously striving for high-quality signal, signal noise development with institutions through these and other various deep cooperation models.

Dinggui Yan: With that, let me now turn the call over to our CEO, Mr. Yan Dinggui. Mr. Yan will deliver his marks in Chinese and I will follow up with the corresponding English translations. Please go ahead, Mr. Yan. Hello, everyone. Thank you for joining our second quarter 2020 for Ernie's conference call. [inaudible] In the domestic industries and consumption, China's macroeconomic situation is moving forward under pressure with a conscious consumer-created demand. After a period of risk volatility, various risk indicators have improved.

Speaker Change: Development with institutions through these and other various deep cooperation models.

Speaker Change: [inaudible]

Dinggui Yan: Hello, everyone. Thank you for joining our second quarter 2020 for Ernie's conference call. [inaudible] Against this backdrop of improving risk levels, our team successfully achieved our strategic goals with innovation and firm execution. In the second quarter, the company achieved a loan facilitation volume of RMB 24 billion, a further increase compared with the previous quarter. In addition, the company's achieved net revenue of RMB 1.476 billion, a 15.5% year-over-year increase continuing our healthy growth momentum.

Speaker Change: We found that in the past 10 years, I was very excited to see the performance of the performance.

Speaker Change: [inaudible]

Fan Shao: Fan Shao, 2009, Wei,公司未來的發展,就是了強勁的動人. 隨著新增計款人數或可能你的不斷提升,我們也高度關注,或轉化的效率,通過清晰化運用過產病疊的在用護年輕方面持續發力.

Speaker Change: Wenqi Lu, Wenlin Fan, 167.1% of the world. In a way, a very new country, a country that has been used by the Chinese government, the Chinese government, who has been the most popular model in the world.

Dinggui Yan: for the movie. Meanwhile, we also increased our investment in borrower acquisition. In addition to optimizing existing channels, we have established partnerships with several top tier platforms. This is awkward as we continue exploring different types of touch points, innovating forward acquisition scenarios and meeting the diverse needs of borrowers. At the same time, we adjusted our identification strategy and enhanced it with a comprehensive marketing system, leading to a broader borrower base. With these measures in place, the number of new borrower's discord rich 60,680,000, reflecting a 32.9% year-over-year group and injecting strong momentum into our future development. As our new borrower acquisition figures and capabilities continue to strengthen, we have placed a strong emphasis on conversion efficiency.

Speaker Change: Dinggui, we also increased our investment in rural acquisition. In addition to optimizing on existing channels, we have established partnerships with several top tier platforms.

Speaker Change: is open as we continue exploring different types of touch points in awaiting forward acquisition scenarios and a meeting that diverse.

Speaker Change: Needs of Borders. At the same time, we adjusted our board identification strategy and enhanced it with a comprehensive marketing system, leading to a broader borer base. With these measures in place.

Dinggui Yan: However, it remains to be seen whether the changes in the market risk levels will continue this trend in the second half of this year, which requires further observation and analysis. During this challenging period, the company's risk control and technological capabilities were put to the test, but we never stopped assisting financial institution clients in maintaining a strong first line of defense. Against this backdrop of improving risk levels, our team successfully achieved our strategic goals with innovation and firm execution.

Speaker Change: the number of new borrowers, this quarter rich, 60, 680,000 reflecting a 32.9% year over year growth and injecting strong momentum into our future development.

Speaker Change: As our new border acquisition figures and capabilities continue to script in, we have placed a strong emphasis.

Dinggui Yan: Through targeted operations and continues product iteration, we have consistently improved user retention. This quarter, our repeat borrowing rate remains stable at 67.1%.

Speaker Change: and Conversion Afficiency. The targeted operations and continues for that eight-day

Speaker Change: We have constant, consistently improved user retention.

Dinggui Yan: Looking ahead, our focus will be on optimizing balance between new and existing borrower's well fully leveraging the lifetime value of our user base, which will be central to our long-term strategic objective. This management is always a key focus in our strategic planning and business operations. By the end of the second quarter, our 61 to 90 days, the increasing rate remains at 0.67%, demonstrating a clear improvement in asset quality.

Dinggui Yan: In the second quarter, the company achieved a loan facilitation volume of RMB 24 billion, a further increase compared with the previous quarter. In addition, the company's achieved net revenue of RMB 1.476 billion, a 15.5% year-over-year increase continuing our healthy growth momentum. [inaudible] Our company has also continued to advance the construction of high quality and sustainable network of cooperative and national institutions. As of June 30th, we have established partnerships with 69 financial institutions and are in talks with additional 35.

Speaker Change: This quarter of a repeat borrowing rate remained stable at 67.1%.

Speaker Change: Working ahead, our focus will be on optimizing the balance between new and existing borders, we are fully leveraging the left-hand value of our user base.

Speaker Change: which will be central to our long-term strategy objectives.

Speaker Change: Feng Tian's水平 is the second part of our relationship with the Chinese government in the second part of the world

Speaker Change: [inaudible]

Speaker Change: Li Ji, Shibie, Bingyu, Xiao, Zodan Qi Zhajie, Yuan Su, Chao Gui Baijiu, Wu Shijuan Qi Zong, Tong, Shibie, Bingyu Nan Jie, Hei Tang, Rui, Gong Ji, Zuo, XVI Leung, Keji, Chongqing, Gao Jian, Xiao Fei's全保护的安全防護藏財

Dinggui Yan: In the second quarter, the company achieved a loan facilitation volume of RMB 24 billion, a 5.5% year-over-year increase in the second quarter. In addition, the company achieved a loan facilitation volume of RMB 24 billion, a 5.5% year-over-year increase in the future. In terms of technology, we have actively advanced our technological transformation. We have continuously explored the use of AI technology in business scenarios. In the second quarter, we built out our existing capabilities and integrated AI into several areas, including customer services, internal communications, decision support, production monitoring, predictive maintenance, and personalized marketing.

Speaker Change: Riz Management is always a key focus in our strategic planning and business operations.

Speaker Change: by the end of the second quarter, our 61 to 90 days to increase the rate, remain at 0.67% demonstrating a clear improvement in asset quality.

Dinggui Yan: We also continue to work on consumer rights protection, implementing system might ties and refine consumer rights protection operations. In the first half of this year, we identified and effectively blocked fraudulent borrowers over 1.59 million times. In all, 160,000 malicious attackers were successfully identified and intercepted.

Speaker Change: We also continue to work on consumer rights protection, implementing system-might-tized and refined consumer rights protection operations.

Speaker Change: in the first hop of this year.

Speaker Change: We identified and effectively blocked fraudulent, for over 1.59 million times. In all, 160,000 militias attackers were successfully identified and intercepted.

Dinggui Yan: By leveraging our strong in-house research capabilities, we launched several innovative products in the second quarter. This includes the Tanglong Intelligent Recommendation System and the Ling Xi AI Agent Platform. This advances or part of our commitment to use technological innovation as a driving force to inject digital power into the company's business development. [inaudible] Our company has also continued to advance the construction of high quality and sustainable network of cooperative and national institutions.

Dinggui Yan: We have leveraged technological innovation to build a strong protective shield for safeguarding consumer rights.

Speaker Change: We have leveraged technical innovation to build a strong protective shield for a safeguarding consumer rights.

Dinggui Yan: The U.S. Department of the United States is an important part of the development of the company. In addition, the two countries have also received a strong growth in the health and stability of the economy.

Speaker Change: [inaudible]

Dinggui Yan: In the history of the industry, we have high regard and high regard to the change in the new relationship. In addition, the United States and the United States have a strong influence on the development of the industry. In addition, the United States has a strong influence on the development of the industry.

Speaker Change: [inaudible]

Speaker Change: and Liar Sichang. In the second round, we will discuss about the future of the Group of the Group. We will discuss about the future of the Group of the Group of the Group. We will discuss about the first and second round.

Speaker Change: Xin Rong, Taiwan, Lei, Yin Ying's Shanghai Center, Xin Ying's Gui Fan, we believe in the Gui Fan, the Gui Fan, has a great cooperation and cooperation, and a great cooperation.

Speaker Change: In the national business remains a key focus for the company's future development and we maintain healthy and stable proof in this area during the second quarter.

Speaker Change: In the nation market, we are paying close attention to the changes in local regulatory requirements. Meanwhile, our local partner optimize its entire business team achieving significant results.

Dinggui Yan: As of June 30th, we have established partnerships with 69 financial institutions and are in talks with additional 35. Overall, our plans to deepen our cooperation with key partners are progressing well and we are gradually implementing additional and deep cooperation in created reporting scenarios, traffic cooperation, and other business areas. As an example of our achievements in the second quarter, we assisted a private bank in connecting targeted asset acquisition channels and we successfully implemented a joint operation project based on the designated traffic channel plus G1 plus bank model.

Speaker Change: In the second quarter, the long size of our Indonesian partner, increased by 25% compare with the previous quarter.

Dinggui Yan: Overall, our plans to deepen our cooperation with key partners are progressing well and we are gradually implementing additional and deep cooperation in created reporting scenarios, traffic cooperation and other business areas. As an example of our achievements in the second quarter, we assisted a private bank in connecting targeted asset acquisition channels. We successfully implemented a joint operation project based on the designated traffic channel plus G1 plus bank model. As part of our deepening cooperation with institutions, we are also exploring expanding services and exploring multiple new businesses.

Speaker Change: and the business conditions exceeded expectations set at the beginning of the year. And we also recognize that our local partner was in ongoing discussions with five local financial institutions.

Speaker Change: and driving to a spend our partnership network. In a Mexican market, we continue to focus on improving various business infrastructure and if boring long-term products.

Speaker Change: in the Nigerian market, against the backdrop of the stable indicators in the second quarter. Our business scale further than the increase compared with the previous quarter.

Dinggui Yan: As part of our deepening cooperation with institutions, we are also exploring expanding services boundaries and exploring multiple new businesses, including part-long matching services. We are also continuously advancing the channel talking and implementation to help attract borrowers for small and macro business owners. Each of these developments is part of our commitment to provide comprehensive and multi-level technical services to our partners. We are continuously striving for high-quality, sickle-knows development with institutions through these and other various deep cooperation models.

Speaker Change: In the market, some local regulations are also being implemented to regulate the listing of financial loan applications.

Dinggui Yan: Including core long matching services, we are also continuously advancing the channel, docking and implementation to help attract borrowers for small and macro business owners. Each of these developments is part of our commitment to provide comprehensive and multi-level technical services to our partners. We are continuously striving for high-quality signal, signal noise development with institutions through these and other various deep cooperation models, for the movie. Meanwhile, we also increased our investment in borrower acquisition.

Speaker Change: We believe that regulatory norms will help the industry develop in a combined healthy and sustainable direction.

Speaker Change: [inaudible]

Speaker Change: Chu Li Xiaoye, Yuan Gong, Guanghai, Wang Jing, Wang Huo,以及社會公益等你,以及事件,兵取得來公署的成果. So, the idea is, we are in a very close relationship with Chu Li Xiaoye, and we are in a very close relationship with Chu Li Xiaoye, and we are in a very close relationship with Chu Li Xiaoye.

Speaker Change: We will have a chance to meet our parents and our parents and our parents.

Speaker Change: While focusing on high-quality development, we are also committed to continuously delivering humanistic care. We will continue to invest in areas such as public welfare education, youth mental health care, and resource services. In the future, we will...

Dinggui Yan: We had heard to the concept of sustainable development and integrate ESG practice into all aspects as a core upgrade measurement. In early August, we released our 2023 ESG Report. Our company actively pursues technology empowerment, support for small and immaculate enterprises, employing care, environmental protection, and social welfare. This has brought fruitful results. It is worth mentioning that we also focus on empowering technology and supporting data elements, which have improved the coverage and accuracy of our inclusive finance. While focusing on high quality development in our core businesses, we remain dedicated to promoting social welfare with ongoing efforts in educational support, youth mental health care, and volunteer services.

Speaker Change: Ji Ji Chen Dan, Sir Wood Zai Lin, been play-on-gong-ser-the-curtz-shu, or cause-an-out-bathen. We adhere to the concept of sustainable development and integrate ESG practice into all aspects of corporate management.

Speaker Change: In early August, we released our 2020-3 SGU report. Our economy actively pursues technology empowerment support for small and immatorial enterprises.

Dinggui Yan: [inaudible] for the movie. Meanwhile, we also increased our investment in borrower acquisition. In addition to optimizing existing channels, we have established partnerships with several top tier platforms. This awkward as we continue exploring different types of touch points, innovating forward acquisition scenarios, and meeting the diverse needs of borrower. At the same time, we adjusted our borrower identification strategy and enhanced it with a comprehensive marketing system, leading to a broader borrower base. With these measures in place, the number of new borrower's discorders reached 660, 680,000, reflecting a 32.9% year-over-year group and injecting strong momentum into our future development.

Speaker Change: and Employee Care Environmental Protection and Social Will Fair. This has brought fruitful results. It is worth mentioning that we also focus on empowering technology and supporting data elements.

Speaker Change: which have improved the coverage and accuracy of our inclusive finance.

Dinggui Yan: In addition to optimizing existing channels, we have established partnerships with several top tier platforms. This awkward as we continue exploring different types of touch points, innovating forward acquisition scenarios and meeting the diverse needs of borrower. At the same time, we adjusted our identification strategy and enhanced it with a comprehensive marketing system, leading to a broader borrower base. With these measures in place, the number of new borrower's discord rich 60, 680,000, reflecting a 32.9% year-over-year group and injecting strong momentum into our future development.

Speaker Change: Well, focusing on high quality development in our core businesses, we remain dedicated to promoting social welfare with ongoing efforts in educational support, youth mental health care and a volunteer services.

Dinggui Yan: Looking ahead, we plan to continue to actively take on social responsibilities and promote the sustainable and high-quality development of the company.

Speaker Change: I had, we plan to continue to actively take on social responsibilities and promote the sustainable and high-quality development of the company.

Speaker Change: [inaudible] of the Group of the Group

Dinggui Yan: In the previous period of time, we have just announced the plan for the first time this year. The plan for the second half of the year is about 266 million dollars.

Speaker Change: Hong Shi, we also have a great family.

Speaker Change: [inaudible]

Dinggui Yan: As our new borrower acquisition figures and capabilities continue to strengthen, we have placed a strong emphasis on conversion efficiency. Through targeted operations and continues product iteration, we have consistently improved user retention. This quarter, our repeat borrower rate remains stable at 67.1%. Looking ahead, our focus will be on optimizing the balance between new and existing borrower's, well fully leveraging the lifetime value of our user base, which will be sent to our long-term strategic objective.

Dinggui Yan: As our new borrower acquisition figures and capabilities continue to strengthen, we have placed a strong emphasis on conversion efficiency. Through targeted operations and continues product iteration, we have consistently improved user retention. This quarter, our repeat borrowing rate remains stable at 67.1%. Looking ahead, our focus will be on optimizing balance between new and existing borrower's well fully leveraging the lifetime value of our user base, which will be central to our long-term strategic objective.

Dinggui Yan: In the next half of the world, we are looking forward to the future of the project. We will continue to promote the development of the company.

Speaker Change: Fan Xu's司長之間轉了,我們期待的未來能夠以各種方式持續回報關心公司發展的投資,資料預讓廣泊投資與公司共享發展成果

Speaker Change: Based on our overall assessment of the markets, we are confident in the company's group for the second half of the year in achieving our annual targets.

Speaker Change: We have decided to set the guidance for the long facilitation volume in the third quarter at approximately R&B 25 billion.

Dinggui Yan: Additionally, we are focused on enhancing shareholder value and reinforcing investor confidence. Recently, we announced this specific distribution plan for the first dividend of this year. The dividend distribution plan is USD 0.5 per EDS, and the total amount for the dividend is approximately USD 26.6 million. With the market gradually improving, we look forward to rewarding investors who care about the company's development in various ways, and we strive to share the fruits of our progress with the company and investors.

Speaker Change: Additionally, we are focused on enhancing sureholder value and reinforcing investor confidence.

Speaker Change: Recently, we announced this specific distribution plan for the first dividend.

Speaker Change: of this year. The dividend distribution plan is USD 0.5 per ADS and the total amount for the dividend is approximately USD 26.6 million.

Speaker Change: With the market gradually improving, we look forward to rewarding investors who care about the company's development in various ways and we strive to share the fruits of our progress with the company and investors.

Fan Chuning: Hello, welcome to the CFO Fan Chuning先生. Thank you very much for your time. I will now turn the call over to our CFO company. Please go ahead.

Dinggui Yan: This management is always a key focus in our strategic planning and business operations. By the end of the second quarter, our 61 to 90 days, the increasing rate remains at 0.67%, demonstrating a clear improvement in asset quality. We also continue to work on consumer rights protection, implementing system might ties and refine consumer rights protection operations. In the first half of this year, we identified and effectively blocked fraudulent borrower's over 1.59 million times.

Chunlin Fan: Thank you, Mr. Yan, and hello, everyone, for joining our call today. I will now review our financial highlights of the quarter. Please note that our numbers will be in R&B, and our percentage of changes refer to year-over-year comparisons. Unless otherwise noted. As Mr. Yan mentioned, our company remains strong and adaptable, maintaining able performance despite shifts in the micro-environment. Notevery, our long facilitation volume reached $24 billion, exceeding our previous guidance of $23 billion. Our net revenue was about $1.48 billion, up 15.5%. The growth of our revenue from our long facilitation services moderated to 2.8%, primarily driven by the service fee optimization within our long facilitation operations.

Fan Chuning: I will now review our financial highlights for the portal. Please note that our numbers will be IND.

Speaker Change: and not percentage changes in a foot to year over year comparisons unless otherwise noted.

Mr. Yan: as Mr. Yan mentioned.

Speaker Change: I'll come for the name of the main store and adaptable, maintaining the table of performers despite shifts in the micro environment.

Speaker Change: Notebre, our long presentation volume reached 24 billion exceeding our previous guidance of 2003 billion.

Dinggui Yan: In all, 160,000 militias, attackers were successfully identified and intercepted. We have leveraged technological innovation to build a strong protective shield for safeguarding consumer rights. [inaudible] We had heard to the concept of sustainable development and integrated ESG practice into all aspects of corporate management, In early August, we released our 2023 ESG report, our company actively pursues technology empowerment, support for small and immaculate enterprises, employing care, environmental protection and social welfare. This has brought fruitful results.

Dinggui Yan: In all, 160,000 malicious attackers were successfully identified and intercepted. We have leveraged technological innovation to build a strong protective shield for safeguarding consumer rights. [inaudible] We believe that regulatory norms will help the industry develop in a compliant, healthy, and sustainable direction. [inaudible] We had heard to the concept of sustainable development and integrate ESG practice into all aspects as a core upgrade measurement. In early August, we released our 2023 ESG report. Our company actively pursues technology empowerment, support for small and immaculate enterprises, employing care, environmental protection and social welfare.

Speaker Change: Honor revenue was about 1.48 billion up to 15.5%.

Speaker Change: The growth of our revenue from loan facilitation services moderated to 2.8% primary driven by the service fee optimization within our loan facilitation operations.

Chunlin Fan: Moving on to costs, facilitation and servicing stands was $688.2 million, representing an increase of 70.9% on the same period of 2023, primarily due to the increase of guaranteed costs incurred. Reversal of uncutable receivables, contract assets, loans receivable, and others represented a reversal of $3.3 million, compared with an allowance of $13.8 million in the same period of 2023. This was primarily due to the net impact of the current period provision and recovery of certain receivables written off in the prior year. Sales and marketing expense was $486.6 million, representing an increase of 15.7% from the same period of 2023, primarily due to an increase in borrow acquisition expenses.

Speaker Change: [inaudible]

Speaker Change: Wobbing down to a cup.

Speaker Change: Association and the serviting stance was 684.2 million. Representing an increase of 70.9% on the same period of 20.3.

Speaker Change: and due to the increase of guaranteed cost, seen curve.

Speaker Change: Reversive on credible, rate-severables, contract sets, long-reseverable and others, representative reversal of 3.3 million. Compared with the launch of 13.8 million in the same period of 2022-3.

Speaker Change: This was a primary duty to the net impact of the calendar period of provision and recovery of certain receivables written off in the prior year.

Speaker Change: Sales and marketing spans were the 486.6 million.

Speaker Change: representing an increase of 15.7% from the same period of 23.

Chunlin Fan: GNA expenses were $65 million, representing an increase of 29.8% from the same period of 2023, primarily due to an increase in borrow expenses and share-based compensation. R&D expense was $92.8 million, representing an increase of 36.3% from the same period of 2023, primarily due to a high-employee compensation benefit expenses. Consequently, our net income for the second quarter was $238.3 million, representing a decrease of 27% from $326.3 million in the same period of 2023. Our basic and diluted net income per share were both 1.12, compared with 1.52 in the second quarter of 2023. Basic and diluted net income per ADS were both 4.48, compared with 6.08 in the second quarter of 2023.

Speaker Change: Primary due to an increase in follow-up condition expenses.

Speaker Change: [inaudible]

Speaker Change: Primary Children by an increase in payroll expenses and the share-based compensation.

Speaker Change: On the expanse was 92.8 million representing an increase of 36.3% from the same period of 23.

Speaker Change: Primary due to high employee compensation benefit expenses.

Speaker Change: Kong Shikun Dari, our net income for a second quarter was 238.3 million, representing a decrease of 27% from 306.3 million in the same area of 233.

Speaker Change: Our basic and dilute the netting company share were both 1.12, compared with 1.52 in a second quarter of 2023.

Speaker Change: Basic and dilute a net income per ADS, with both 4.48 compared with 6.08 in a second quarter of 2003.

Chunlin Fan: We are pleased to report that our cash position significantly improved the quarter. As of June 30, 2024, our cash and cash equivalents reached $8.2 million, as the potential increase from $580.2 million at the end of the previous quarter. This growth reflects our continued emphasis on financial discipline and operational optimization.

Speaker Change: We are pleased to report that our cash position significantly improved this quarter.

Speaker Change: and the Zhuang 30, 24, our cash and the cash equivalents reached 8.2 million as a potential increase from 568.2 million at the end of the previous quarter.

Speaker Change: This growth reflects our continued emphasis on financial disappearing and operational optimization.

Shawn Zhang: With that, we can open a call for questions. Ms. Shue, our Chief Risk Officer, and I will answer your questions.

Speaker Change: with that we can hope in the call for questions.

Operator: Operator, please proceed. Thank you.

Speaker Change: Miss Xu, I'll check this office and I will answer your questions.

Operator: To ask a question, please press star 11 on your telephone and wait for your name to be announced. To withdraw your question, please press star 11 again.

Speaker Change: I pray that peace for peace.

Speaker Change: Thank you. To ask a question, please press star 111 on the telephone and wait for your name to be announced. Do we do your question? Please press star 111 again.

Yuxuan Chen: We will now take the first question from the line of QNK1 from HOTI Securities. Please go ahead. To ask a question, please press star 11 on your telephone and wait for your name to be announced. Please press star 11 on your telephone and wait for your name to be announced.

Speaker Change: We will now take the first question.

Chen: from the line of Chen, from Hot Say Security, please go ahead.

Speaker Change: Hello, everyone, welcome to the next episode.

Speaker Change: [inaudible]

Speaker Change: The second question is, whether the company is the second group of Taiwan, and the second one is Liang Bai, Sichuan, Tongbei, Shiqin, and Huang Li, Dongdao, and the two of them. In the second question, the two of them will be the first group of Taiwan, or the next group of Taiwan.

Speaker Change: is the first to make a comeback in the first half of the year, but it's still a great success. It's a great success to be able to achieve this.

Yuxuan Chen: To ask a question, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press star 11 on your telephone and wait for your name to be announced, please press and wait for your name The first is the research of the research process.

Speaker Change: OK, let me do the translation.

Speaker Change: here is a recent form of fire security. The first question is, considering that the natural unit this quarter increased by 15.5% year or year, that the net income decreased by 20.5% and the operating costs and the sales and marketing expenses also increased.

Dinggui Yan: This has brought fruitful results. It is worth mentioning that we also focus on empowering technology and supporting data elements which have improved the coverage and accuracy of our inclusive finance. While focusing on high quality development in our core businesses, we remain dedicated to promoting social welfare with ongoing efforts in educational support, youth mental health care and volunteer services. Looking ahead, we plan to continue to actively take on social responsibilities and promote the sustainable and high quality development of the company.

Dinggui Yan: It is worth mentioning that we also focus on empowering technology and supporting data elements, which have improved the courage and accuracy of our inclusive finance. While focusing on high-quality development in our core businesses, we remain dedicated to promoting social welfare with ongoing efforts in educational support, youth mental health care and volunteer services. Looking ahead, we plan to continue to actively take on social responsibilities and promote the sustainable and high-quality development of the company.

Speaker Change: How does the management impact particularly on the next modern to change in the future?

Speaker Change: and the second question is, will notice that the company's second-quarter low-facension association lawland was RMB-204 building that year over year and up to the full-time company's second-quarter high-facension.

Speaker Change: During the past these squalls ready to continue to come closer or if they are potential, I can't refer to a salary in the future.

Dinggui Yan: In the last half of the year, we have completed all the goals of the project. We have decided to make the third record of the project as a core upgrade measurement. At the same time, we have also worked hard to achieve our goals. In the previous period of time, we have just announced the plan for the first time this year. The plan for the second half of the year is about 266 million dollars.

Speaker Change: and the same time in the management, it's confident about the future rules. The same quarter guidance of R&D-203 building, things that it comes with, conservative.

Dinggui Yan: In August, 251, we are also working hard to achieve our goals. In early August, we just announced the plan for the first time in the past year. The plan for the ESG practice is 0.5 million yuan. It is 266 million yuan per month. In the future, we hope that the future of the company will continue to return to the development of the company. We hope that the development of the company will continue to grow.

Speaker Change: Could you please get elaborate on the considerations behind this, thanks.

Speaker Change: OK, OK, thank you. I'm the first one to welcome you to the next round of the round, and I'll be back to the first round of the round, and I'll be back to the next round.

Dinggui Yan: In the next half of the world, we are looking forward to the future of the project. We will continue to promote the development of the company. Based on our overall assessment of the market, we are confident in the company's growth for the second half of the year and in achieving our annual targets. Therefore, we have decided to set the guidance for the long facilitation volume in the third quarter as approximately R&B 25 billion.

Speaker Change: [inaudible]

Dinggui Yan: Based on our overall assessment of the market, we are confident in the company's growth for the second half of the year and in achieving our annual targets. Therefore, we have decided to set the guidance for the long facilitation volume in the third quarter at approximately R&B 25 billion. Additionally, we are focused on enhancing shareholder value and reinforcing investor confidence. Recently, we announced this specific distribution plan for the first dividend of this year.

Speaker Change: [inaudible]

Speaker Change: There is actually a big difference between the second quarter of this year and the second quarter of last year.

Speaker Change: We also said that the leader of the leader of the Hong Kong government is a lot better than the leader of the Hong Kong government

Speaker Change: Lu Guanzai, Ji Duu, Arling Hai, 3 years ago, Q1, Q2, Yingshou, Denggui, Wu Shulu, Xiangguan, Zheng Di, Dui Duu, Lin Lin, Yingsheng, is a big big. [inaudible]

Dinggui Yan: Additionally, we are focused on enhancing shareholder value and reinforcing investor confidence. Recently, we announced this specific distribution plan for the first dividend of this year. The dividend distribution plan is USD 0.5 per EDS and the total amount for the dividend is approximately USD 26.6 million. With the market gradually improving, we look forward to rewarding investors who care about the company's development in various ways and we strive to share the fruits of our progress with the company and investors.

Dinggui Yan: The dividend distribution plan is USD 0.5 per EDS and the total amount for the dividend is approximately USD 26.6 million. With the market gradually improving, we look forward to rewarding investors who care about the company's development in various ways and we strive to share the fruits of our progress with the company and investors.

Dinggui Yan: Thank you, Yu Xuan, and I am finally the CEO of the company, and I will answer your first question. Just as what you said, the company's revenue for the second quarter has a year-over-year increase of 15.5%, but the net income decline, and the main reasons are as follows. The structural difference in the revenue mainly because of the proportion of our guarantee business, just like what we said before, the margin of the guarantee business is much lower than that of loan facilitation services. If we talk about this indicator in the quarter, the guarantee services we made revenue in the second quarter of 2024 was 424 million RMB, which was much higher than the 197 million RMB in the second quarter of 2023.

Speaker Change: Thank you, Shawn, and I am finally the sample of the company, and I will answer your first question. And just as what you said, the company's...

Speaker Change: Revenue for the second quarter has a year-over-year increase of 15.5% but the net income decline and the main reasons are as follows. Firstly, it's because of the struck us.

Speaker Change: the structural difference in the revenue mainly because of the proportional of our guarantee business.

Shawn Zhang: Thank you, Mr. Yan. And hello, everyone. We're doing our call today.

Speaker Change: just like what we have said before, the marching of the Guarantees business is...

Chunlin Fan: I will now review our financial highlights for the quarter. Please note that our numbers will be in R&B, and our percentage changes refer to year-over-year comparisons. Unless otherwise noted. As Mr. Yan mentioned, our company remains strong and adaptable, maintaining able performance despite shifts in the micro-environment. Notevery, our low facilitation volume reached 24 billion, exceeding our previous guidance of 23 billion. Our net revenue was about 1.48 billion, up 15.5%. The growth of our revenue from our low facilitation services moderated to 2.8%, primary driven by the service fee optimization within our low facilitation operations.

Master Lord: Master Lord, Dan, that of long facilitation services, if we talk about this indicator in the quarter, the guarantee services we made it revenue in the second quarter of time in the time for was

Master Lord: 244 million RMB, which was much higher than...

Dinggui Yan: So it lowered the overall margin and that income level in the second quarter.

Master Lord: in the second quarter of 2020, so it lowered the overall marketing and net income level in the second quarter.

Chunlin Fan: Our net revenue was about $1.48 billion, up 15.5%. The growth of our revenue from our long facilitation services moderated to 2.8%, primarily driven by the service fee optimization within our long facilitation operations. Moving on to costs, facilitation and servicing stands was $688.2 million, representing an increase of 70.9% on the same period of 2023, primarily due to the increase of guaranteed costs incurred. Reversal of uncutable receivables, contract assets, loans receivable, and others represented a reversal of $3.3 million, compared with an allowance of $13.8 million in the same period of 2023.

Speaker Change: I have been working on the work in the past five years. This is the work that we need to learn from the public. We work with the public, not with the public. In the future, we will be very happy.

Chunlin Fan: Moving on to costs, facilitation and servicing stance was 108.2 million, representing an increase of 70.9% on the same period of 2023, primary due to the increase of guaranteed costs incurred. Reversal of uncutable receivables, contract assets, loans receivable, and others represented a reversal of 3.3 million, compared with an allowance of 13.8 million in the same period of 2023. This was primary due to the net impact of the current period provision and recovery of certain receivables written off in the prior year.

Speaker Change: I think that's why we're not going to be able to do this, but we're going to be able to do this for the next half of the year, and we're going to be able to continue to continue to continue to continue to continue to continue to continue

Dinggui Yan: From the perspective of the company's overall business development strategy, the listed entity will continue to focus on the loan facilitation services and reasonably control the balance of different business segments in the proportion of revenue. The guarantee business has been steadily declining since the year, and we will see that in the second half of 2024, it will significantly improve the company's future overall margin level. And that's the first reason.

Speaker Change: So, from the perspective of the companies, all business development strategy, the listed entity will continue to focus on the loan for third-teason services in a reasonably controlled balance of different business segments in the proportion of revenue.

Chunlin Fan: This was primarily due to the net impact of the current period provision and recovery of certain receivables written off in the prior year. Sales and marketing expense was $486.6 million, representing an increase of 15.7% from the same period of 2023, primarily due to an increase in borrow acquisition expenses. GNA expenses were $65 million, representing an increase of 29.8% from the same period of 2023, primarily due to an increase in borrow expenses and share-based compensation.

Speaker Change: and the guarantee business has been steadily declining since the year and in the second half of the 20-ton 4, it will significantly improve the company's future overall margin level.

Chunlin Fan: Sales and marketing expense was 486.6 million, representing an increase of 15.7% from the same period of 2023, primary due to an increase in borrow acquisition expenses. GNA expenses were 65 million, representing an increase of 29.8% from the same period of 2023, primary due to an increase in borrow expenses and share-based compensation. R&D expense was 92.8 million, representing an increase of 36.3% from the same period of 2023, primary due to a high-employee compensation benefit expenses.

Speaker Change: Dinggui Yan, the first person in the world, is the second part of the world. We are in the future. In the future, we have done a lot of work in the past. This is also a very important work. This is a great work for the two of us.

Dinggui Yan: And the second reason is because we have me, more strategic investment in the borough acquisition and also R&D portion. And that's also in the view of the company's relatively healthy profitability and the cash flow situation.

Speaker Change: and that's the first reason. And the second reason is because we have me more strategic investment in the Polaroid acquisition.

Chunlin Fan: R&D expense was $92.8 million, representing an increase of 36.3% from the same period of 2023, primarily due to a high-employee compensation benefit expenses. Consequently, our net income for the second quarter was $238.3 million, representing a decrease of 27% from $326.3 million in the same period of 2023. Our basic and diluted net income per share were both 1.12, compared with 1.52 in the second quarter of 2023. Basic and diluted net income per ADS were both 4.48, compared with 6.08 in the second quarter of 2023.

Speaker Change: and also R&D portion.

Speaker Change: and that's also in the view of the company's relatively healthy, profitable ability and the cash flow situation.

Dinggui Yan: In the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core of the core At the same time, with the continuous optimization of revenue structure and the results of strategic investment in borrower acquisition and also R&D, the company is confident that the profit margin will increase in the second half of the year.

Speaker Change: [inaudible]

Chunlin Fan: Consequently, our net income for the second quarter was 238.3 million, representing a decrease of 27% from 326.3 million in the same period of 2023. Our basic and diluted net income per share were both 1.12, compared with 1.52 in the second quarter of 2023. Basic and diluted net income per ADS were both 4.48, compared with 6.08 in the second quarter of 2023. We are pleased to report that our cash position significantly improved the quarter, as of June 30, 2024, our cash and the cash equivalence reached $8.2 million, as the potential increase from $580.2 million at the end of the previous quarter. This growth reflects our continued emphasis on financial discipline and operational optimization.

Speaker Change: [inaudible]

Chunlin Fan: We are pleased to report that our cash position significantly improved the quarter. As of June 30, 2024, our cash and the cash equivalence reached $8.2 million, as potential increase from $580.2 million at the end of the previous quarter. This growth reflects our continued emphasis on financial discipline and operational optimization.

Speaker Change: We, so the border acquisition cost and the credit cost in the second quarter increased significantly and the company's proportion of new borders in the second quarter reached about 33 percent.

Shawn Zhang: With that, we can open a call for questions.

Speaker Change: So, in the future, we will also focus on the sustainable and healthy group of our business and our investment in those areas will prove that.

Shawn Zhang: With that, we can open a call for questions.

Shawn Zhang: Ms. Xu, our Chief Risk Officer, and I, will answer your questions. Operator, please proceed. Thank you. To ask a question, please press star 11 on your telephone and wait for your name to be announced. To withdraw your question, please press star 11 again.

Operator: Ms. Xu, our Chief Risk Officer and I will answer your questions. Operator, please proceed. Thank you. To ask a question, please press star 11 on your telephone and wait for your name to be announced. To withdraw your question, please press star 11 again.

Chun: We will now take the first question. From the line of Chun, Q&A, please go ahead.

Speaker Change: We'll help our business to grow in this way.

Speaker Change: Dinggui Yan was also involved in the development of the national team in the US. In the case of AI technology, the development of AI technology is also included in the development of AI technology. This is a very interesting and interesting story.

Chun: We will now take the first question, from the line of Chun, please go ahead. Please go ahead. Okay, let me do the translation. Here is a signature from Huatai's Committee. The first question is considering that the natural revenue of this quarter increased by 15.5% year-old year, but the income decreased by 20,000%. And the operating cost and the sales of an opportunity expensive also increased. How does the management expect to take rate on the net margin to change in future?

Speaker Change: So, our R&D spends this in the second quarter in Chris by more than...

Speaker Change: 36% year over year, and our investment in the AI technologies and also the application in the several business scenarios is good for the long term development of our communist business.

Yifang Xu: [inaudible][inaudible] Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu,[inaudible] Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu,[inaudible] and that's the first reason. And the second reason is because that we have me more strategic investment in the borough acquisition and also R&D portion and that's also in the view of the company's relatively healthy profitability and the cash flow situation. [inaudible] acquiring the new boroughs and retaining high quality existing boroughs. So, the borough acquisition cost and the credit cost in the second quarter increased significantly and the company's proportion of new boroughs in the second quarter reached about 33%.

Speaker Change: [inaudible]

Speaker Change: Hai, Hai, Hai, Hai, Hai, Hai, [inaudible]

Speaker Change: So, just like Mr. Yan just mentioned that we set our cue, the third quarter guidance as...

Speaker Change: at some...

Speaker Change: Torny, Funty, Funty, Funty, and R&B.

Speaker Change: and the company focuses on high 40 groups and stable practice.

Speaker Change: Continues optimization of capital costs and further improvement of asset quality which can support our take rate at the current level and we also have the room to improve in the future.

Speaker Change: [inaudible]

Chun: And the second question is, we noticed that the company's second quarter low-fascination facilitation model was RMB224 billion last year-old year, and a single assignment quarter quarter. Do we expect this growth rate to continue in the common quarters, or is there potential for it to accelerate in the future? I would like to talk about the management constant about the future growth. The same quarter of RMB224 billion seems to be conservative. Could you please elaborate on the considerations behind this? Thanks. Okay, thank you for the question.

Speaker Change: At the same time with the continuous optimization of revenue structure and the results of strategic investment in borer acquisition and also RNG. The company is confident that the profit margin will increase in the second half of the year.

Yifang Xu: Okay, so the second question will turn over to Ms. Xu Yifeng. Ms. Xu Yifeng, thank you for your question, and I will talk with you about our guidance. So, first of all, we set a goal for further reducing risk and continuing to grow to about 25 billion R&B in the third quarter of this year as our third quarter guidance. And actually, this guidance is a certain challenge for us, but our team is confident about that. Secondly, the guidance is a direction and goal. So, set by the company's management based on a comprehensive consideration of the overall economic environment, borrower's needs, market competition and also our own strategic position.

Speaker Change: [inaudible]

Dinggui Yan: I will answer the first question about the growth rate, and the future growth rate. In the same way, you just talked about the situation, which is the growth rate of the income of the company in the second quarter of the year, and the growth rate of the income of the company in the second quarter of the year, but our current growth rate is very low.

Speaker Change: [inaudible]

Speaker Change: In this video, we will be looking at the results of the test. We will be able to see the results of the test. We will be able to see the results of the test.

Yifang Xu: As long as it is a low-fascination,[inaudible] Yifang Xu, Jiayin Group, Dinggui Yan, Yifang Xu, Jiayin Group, Dinggui Yan Yifang Xu, Jiayin Group, Dinggui Yan, Yifang Xu, Jiayin Group, Dinggui[inaudible] Dinggui Yan, Yifang Xu, Jiayin Group, and that's the first reason and the second reason is because we have more strategic investment in the borough acquisition and also R&D portion and that's also in the view of the company's relatively healthy profitability and the cash flow situation. [inaudible] And so acquiring the new boroughs and retaining high quality existing boroughs, we so the borough acquisition cost and the credit cost in the second quarter increased significantly and the company's proportion of new boroughs in the second quarter reached about, 33%.

Speaker Change: Dismissed Shrivong and thank you for your question and I will talk with you about our guidance.

Speaker Change: So, first of all, we set a go for further reducing risk and a continuing to grow to...

Speaker Change: I'm about 25 billion RMB in the third quarter of this year as our third quarter of guidance. And I actually think this guidance is a certain challenge for us, but our team is confident about that.

Speaker Change: This is the most important thing in the world.

Speaker Change: [inaudible]

Speaker Change: Secondly, the guidance is a direction and goal.

Speaker Change: set by the company's management based on a comprehensive consideration of the overall economic environment, borrowers, needs, market competition, and also our own strategic position.

Chen Qi: Chen Qi's team has seen our fans in the past, and has also been in a very long time. That's what I'm talking about.

Speaker Change: So, from now on, we will be able to do a lot of things in the future. Now, we will be able to see what we are looking at. In the future, we will be looking forward to it. We will be looking forward to seeing how many different things we are looking at in the future.

Speaker Change: [inaudible]

Speaker Change #100: So, in this program, we are going to be going to a place called Guayao, where we are going to be in a place called Guanyi, where we are going to be in a place called Guanyi

Yifang Xu: And as Mr. Yen just remarks before that, we are still cautiously optimistic about the overall economic environment, and as you know, the finance shall serve as the economic development. And the borrowers' demand for the credit products has been strong in the third quarter. We have seen that the number of the multi-application borrowers has been rising recently, but as a credit service provider we need to balance the health and sustainability behind the demand, and strengthen the approval process and the management work upon the applications during the risk management. In the competition, let's give of the long facilitation market.

Speaker Change #100: and as Mr. Yan just remarks before that we are still closely optimistic about the overall economic environment.

Speaker Change #100: in the financial service as the economic development and the Boris Demont for the

Speaker Change #101: We have seen that the number of the multi-application borrower has been rising recently but as a credit service provider, we need to balance the health and sustainability behind the line.

Speaker Change #101: and strengthen the approval process and the management work upon the applications during the risk management.

Speaker Change #102: I think that's why I'm looking at the situation in the middle of the road.

Wang Yan: [inaudible] I'm Wang Yan.

Wang Yan: [inaudible]

Yifang Xu: It is stable, but also with dynamic changes. And we can see that the industry participants, including our licensed financial institution partners, are more putably considering how to make the consumer-equatic market develop healthy in the long term and also to balance and choosing between the skill and risk indicator management. And I can tell you that our peers and us will not rush in to achieve rapid expansion in the foreturn. In the future, we will continue to support the growth of the financial institution. In the future, we will continue to look at the development of the development of the financial institution.

Speaker Change #104: In the competition, let's give off the long-faceted edition market. It is stable, but also with dynamic changes.

Speaker Change #104: and we can see that the industry participants, including our licensed financial institution partners, are more procedurally considering how to make the consumer critic market developed healthy in the long term.

Speaker Change #105: and also to bounce and choosing between the skill and the indicator management.

Speaker Change #105: and I can tell you that our peers and us will not rush into a cheap rapid expansion in the four-term.

Yifang Xu: So, in the future, we will also focus on the sustainable and healthy growth of our business and our investment in those areas will prove that will help our business to grow in this way. [inaudible] and our investment in the EI technologies and also the application in the several business scenarios is good for the long-term development of our company's business[inaudible] at the same time with the continuous optimization of revenue structure and the results of strategic investment in borrower acquisition and also R&D.

Yifang Xu: So in the future, we will also focus on the sustainable and healthy growth of our business and our investment in those areas will prove that will help our business to grow in this way. [inaudible] and our investment in the EI technologies and also the application in the several business scenarios is good for the long-term development of our company's business[inaudible] At the same time, with the continuous optimization of revenue structure and the results of strategic investment in borrower acquisition and also R&D, the company is confident that the profit margin will increase in the second half of the year.

Speaker Change #105: [inaudible]

Speaker Change #106: and I will show you a very important part of the story. This is a very important part of the story. It is a very important part of the story. It is a very important part of the story.

Yifang Xu: In general, our business strategy will continue to maintain a stable and slightly rising long-term business guideline, and it is specific to answer a question if the guidance or our good speed will speed up in the future. I think we need to also observe the overall environment in the future. So, that will be my answer about your question about our third quarter guidance.

Speaker Change #106: So in general, our business strategy will continue to maintain a stable and slightly rising.

Speaker Change #106: Long-term Business, Gut Line.

Speaker Change #107: and his specific to answer a question of the guidance and or our group speed will speed up in the future. I think we need to also observe the overall environment in the future as well.

Speaker Change #108: This is the third week of the year. We'll be back soon.

Yifang Xu: That's all.

Speaker Change #109: So, that will be my answer about your question about our third quarter guidance, that's all.

Yifang Xu: Thank you.

Rong Hua: We will now take the next question.

Rong Hua: From the line of Qua, wrong from G.U. A set, please go ahead.

Speaker Change #110: Thank you. We will now take the next question.

Speaker Change #111: from the line of Quar, wrong from Jingyu, are set, please go ahead.

Speaker Change #111: Hello, I'm Wang Wenqi, I'm from the first time in my life. The first time I saw a few years ago, I met a few years ago.

Speaker Change #112: [inaudible] This is a plan that will be held in the future. The Koubu Yan and the Koubu Wei will be held in the future.

Speaker Change #112: [inaudible]

Yifang Xu: The company is confident that the profit margin will increase in the second half of the year.

Yifang Xu: Okay, so the second question will turn over to Ms. Xu Yifang. [inaudible] and Mr. Yan just remarks before that we are still cautiously optimistic about the overall economic environment, and as you know, the finance show serves as the economic development and the boroughs demand for the credit products has been strong in the third quarter. We have seen that the number of the multi-application boroughs has been rising recently, but as a credit service provider, we need to balance the health and sustainability behind the demand and strengthen the approval process and the management work upon the applications during the risk management.

Yifang Xu: Okay, so the second question will turn over to Ms. Xu Yifang. [inaudible][inaudible] Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu,[inaudible] Yifang Xu, Yifang Xu, Yifang Xu,[inaudible] Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu,[inaudible] Yifang Xu, Yifang Xu, Yifang Xu, Yifang Xu,[inaudible] So that will be my answer about your question about our third quarter guidance, that's all.

Speaker Change #113: I'm Jia Luo Wenqi, Shi Tai, Benji Dongmu,公司的現金以及現金等假物

Speaker Change #114: We've got a lot of things to do. We've got a lot of things to do.

Rong Hua: We will now take the next question about our third quarter guidance.

Speaker Change #115: In the previous video, Hong Guan Jingjia, the company is the new CEO of the company. This is the first time I've ever seen a man in the world.

Speaker Change #115: I'm a director of the company. The company is in a new world, and there is something in the world.

Yifang Xu: Thank you.

Speaker Change #116: Hello, Management. I have two questions. The first one is the repeat boring rate. This quarter dropped from 70.1% to last year to 60.7.1%. While sales and management experience grew by 15.7% year or year.

Speaker Change #117: by the editor I read borrowing a month for borrowing and casting more statements, how they blend.

Zhang Zixi: Zhang Zixi indicates challenges in borrowing acquisition, efficiency, and the retention, and their current market conditions.

Speaker Change #119: Huotangitay Distractive has management implemented to return existing borrowers, attracting new ones and optimize marketing, then to reduce inefficient, in fact, him at work, Typing.

Speaker Change #120: and my second question is, at the end of this quarter, the company's cash and the cash equivalent position reached about 800 and 8 million RMB of significant increase compared to the previous quarter.

Speaker Change #121: How did the company achieve cash flow growth and their current micro-economic priorities? What are the main factors for the growth? What plans does the company have for the use for the cash flow in the next few few quarters? Thank you.

Rong Hua: I would like to share with you a little bit about what we should talk about. I would also like to welcome you to the next part of the night. It is also very important to us. This question is also very simple. However, we are actually talking about the quality of the information. It is actually more comfortable for us.

Speaker Change #122: Fu Jie Liu and I will be with you in the next video.

Speaker Change #123: I'm going to teach you a lesson

Speaker Change #123: [inaudible]

Rong Hua: In the last half of the year, I would like to welcome you to the next part of the night. I would like to welcome you to the next part of the night.

Speaker Change #124: But we just want to talk about the movie, because it's a very popular movie. In the last few years, we have been working with the director of this movie for the first time.

Mi Zohua: Mi Zohua Hello, and I'm Shifun. I will answer about your first question, generally, about the repeat boring rate and also the job of our boring amount per boring.

Speaker Change #126: and I can't also see that you are really focusing on our business and you are very familiar with our key business indicators.

Speaker Change #127: and just ask what you said, the Beast Indicators are in line with all business thinking and also.

Speaker Change #127: Art the results of our decision making execution.

Speaker Change #128: We are going to talk about the two countries in the United States, and we are going to talk about the situation in the United States, which is the first time we have been in the United States for a long time. And we are going to talk about the situation in the United States.

Speaker Change #129: In summary, these two indicators reflect that we have increased the efforts to acquire new borrowers while reducing the credit limit for each borrower.

Speaker Change #130: In the previous video, we were able to use this new product to make it more popular, but it was also popular in the previous video.

Speaker Change #131: I'm looking at the news of the news that the news is coming out in a year and a half ago. The news is coming out in the future. We've seen a lot of news. I'm looking at the news of the news. I'm looking at the news of the news. I'm looking at the news of the news.

Yifang Xu: In the competition, let's give of the long facilitation market. It is stable, but also with dynamic changes, and we can see that the industry participants, including our licensed financial institution partners, are more prudently considering how to make the consumer equity market develop healthy in the long term and also to balance and choosing between the skill and risk indicator management. And I can tell you that our peers and us will not rush into to achieve rapid expansion in the four-term.

Speaker Change #132: At the same time, we also noticed that this customer's credit demand is relatively strong. Therefore, from the perspective of customer acquisition, it is a good opportunity. We have seized this opportunity to increase our marketing efforts and intensify our efforts in acquiring new customers.

Speaker Change #133: and I'll be one hand after they so called silent period of the market at the beginning of this year. And so in the second quarter we can see that the risks, especially the post-long indicators have been optimized across the industry.

Speaker Change #134: and the overall economic situation is also full of expectations for the whole year of [inaudible]

Speaker Change #134: and the borrower's credit demand is also very strong, so from the perspective of our acquisition, it is a good time and that's also why we invest more on the new borrower acquisition.

Speaker Change #135: [inaudible] I'm from the Department of Technology. I'm from the Department of Technology.

Rong Hua: So, to clarify that, I can repeat that.

Yifang Xu: [inaudible] industry. So in general, our business strategy will continue to maintain a stable and slightly rising long-term business guideline. And it is specific to answer a question if the guidance and or our good speed will speed up in the future. I think we need to also observe the overall environment in the future. So that will be my answer about your question about our third quarter guidance, that's all.

Speaker Change #135: I'm...

Speaker Change #136: So to clarify that, can repeat that.

Speaker Change #136: [inaudible]

Yifang Xu: Thank you.

Rong Hua: So, to clarify that the increase on our SNM expenses is 15.7% per year. If you talk about the number of our new borrowers, it will be 32.9%.

Speaker Change #137: OK, thank you.

Speaker Change #138: So to clarify that the increase on our S&M expenses is 15.7% a year and if you talk about the chance in the number of our new borrowers, it'll be...

Speaker Change #138: 32.9%

Speaker Change #138: [inaudible]

Quarron: We will now take the next question. From the line of Quarron from G.U. Assets, please go ahead.

Rong Hua: We will now take the next question. From the line of quote, wrong from G.U, assets, please go ahead. [inaudible][inaudible] So, to clarify that, I can repeat that. So, to clarify that the increase on our SNM expenses is 15.7% per year. If you talk about the number of our new borrowers, it will be 32.9%. So, on the other hand from the perspective of average, per borrowing or per borrower created perspective, we have made more complex structural adjustment and set different differentiated business goals for different borrowers groups.

Speaker Change #139: I'm going to show you the results of the program. Thank you.

Rong Hua: So, on the other hand, from the perspective of average, per borrowing or per borrower created perspective, we have made more complex structural adjustment and set different differentiated business goals for different borrowers groups. So, the final result is a decrease in the amount of borrowing amount. So, overall we hope to maintain the scale of facilitation volume to be stable and maybe some increase in this year.

Speaker Change #140: So, on the other hand, from the perspective of average.

Speaker Change #141: Programming or Perborer created perspective. We have made more complex structural adjustment and set different, different, differentiated business goals for different Borer groups.

Speaker Change #141: So the final result is a decrease in the amount of pouring amount.

Speaker Change #141: [inaudible]

Speaker Change #141: Lin Huo, to do a great whole year, go to the restaurant.

Speaker Change #142: So, overall, we hope to maintain the skill of our facilitation volume to be stable and maybe some increase in this year.

Rong Hua: And also we want to ensure our operating purpose and also to expand the borrower base and enable us to be more flexible to meet the next stage of market changes. So, to clarify that the increase in the amount of borrowers is 8.8% per year and the increase in the amount of borrowers is 3.1% per year. So, to clarify that the increase in the amount of borrowers is 2.1% per year and the increase in the amount of borrowers is 2.1% per year.

Speaker Change #142: and also, we want to ensure our operating purpose and also to expand our base. And enable us to be more flexibly meet the next stage of market changes.

Quarron: Hello, management. I have two questions. The first one is the repeat following rate, this quarter, dropped from 70.1% last year. To 60, 7.1% while sales and management expense grew by 15.7% year over year. By the average borrowing amount per borrowing and the customer's thickness, how they can land. Does this indicate challenges in borrowing acquisition efficiency and retention and their current market condition? What targeted strategies has management implanted to retain existing borrowers, attracting new ones and optimize marketing spend to reduce inefficient ineffective advertising?

Speaker Change #142: [inaudible]

Zhang Xia: Zhang Xia.

Zhang Xia: So I will turn over to Mr. Fan for your second question. Thank you very much.

Mr. Fan: and our new model is now in the middle of the day. We have been waiting for the first time in the world and we have been waiting for the first time in the world.

Mr. Fan: [inaudible]

Mr. Fan: This is the only way to make a new project, because it is a new project that will be used in the future. So, we have a very simple process, and we want to make a new project. This is the first project of the new project, which will make a new project, which will make a more powerful project.

Dinggui Yan: My second question is at the end of this quarter, the company's cash and the cash equivalence position reached about $8.18 million RMB. It increased compared to the previous quarter. How did the company achieve cash flow growth and their current micro-economic priorities? What are the main factors for the growth? What plans does the company have for the cash flow in the next few quarters? Thank you. [inaudible] So to clarify that, I can repeat that.

Rong Hua: So, the company's cash flow continued to improve and increasing by about 300,000,000,000 300 and tall milling RMB at the end of the second quarter, compared with the end of the first quarter and mainly due to two reasons. The first will be the company's profitability and operating cash flow performed very well and especially as the company's performance growth switched from the ultra high speed growth before 2023 to the high quality growth model. The company's account receivable balance grew very well, and the recovery was very good, which made the company's net operating cash inflow and current profits show a stronger linear relationship.

Mr. Fan: [inaudible]

Wang: OK, thank you, Wang.

Speaker Change #146: So the company's casual continue to improve.

Speaker Change #147: and I'm here to introduce you to the next episode of the series.

Speaker Change #148: 100, 300, and tall meeting.

Speaker Change #148: R&B at the end of the second quarter compared with...

Speaker Change #148: and the end of the first quarter.

Speaker Change #149: and mainly due to two reasons. The first will be the company's profitability and operating cash flow performed very well and especially as the company's performance good switch from the ultra high speed good before 2023 to the high quality good model.

Speaker Change #150: the company at Council Recivable Balance Group, Zhejiang, and the recovery was very good. Which made the company's net operating cash inflow and current profits show a stronger linear relationship.

Speaker Change #150: [inaudible]

Rong Hua: And the second is because the funds released by business model optimization with the strategic reduction of guarantee business and the continuous optimization of related commercial terms. The company's funds are occupied by the security deposit have been continuously released.

Speaker Change #150: and the second is because the phone released by business model of an organization.

Speaker Change #151: with the strategic reduction of the guarantee business and the continuous optimization of related commercial terms. The company's funds occupied by the security deposit have been continuously released.

Speaker Change #151: [inaudible]

Rong Hua: In the next quarter, our company's cash flow situation will be continuously optimized, laying a solid foundation for the long-term sustainable development of the company's business, including the development of all received businesses.

Speaker Change #151: So, in the next quarters, our company's cash flow situation will be continuously optimized. Laying a solid foundation for the long term sustainable development of the company's business, including the development of all receipt business.

Speaker Change #152: From the company to the political and political situation, continue to be a part of the development of the Hong Kong and Gui Piao International Group.

Speaker Change #152: [inaudible]

Rong Hua: At the same time, if our policy permits, so the company will continue to implement the currently existing dividend policy and share repurchase plan to continuously reward our shareholders, just as Mr. Yan remarks before. On August 16, our report permits the current, the very first cash dividend of this year, which is $0.5 USD per ADS, and the ADS holders can expect to receive the dividends on the 6th of September. That will be my answer for your second question.

Speaker Change #152: Zhang, the same time our policy permits, so the company will continue to implement the currently existing dividend policy.

Speaker Change #152: and SIR repurchase plan to continuously report our shareholders just as...

Mr. Yan: Mr. Yan, remarks before on August 16th.

Speaker Change #153: I report permits the current verifers, Keshaw, Davidan.

Speaker Change #154: Cash Stephen of this year which is 0.5 US dollars per ADS and the ADS holders can expect to receive the dividends on the 6th of September.

Speaker Change #155: [inaudible] Thank you.

Shawn Zhang: I would like to turn the conference back to Shawn Zhang for closing remarks. Thank you, operator, and thank you all for participating on today's call. And thank you for your support. We appreciate your interest and look forward to reporting to you again next quarter on our progress.

Speaker Change #155: Thank you. Have we not like to turn the conference back to Shawn Zhang for closing remarks?

Shawn Zhang: Thank you all for participating on today's call and thank you for your support. We appreciate your interest and look forward to reporting to you again next quarter on our progress.

Operator: This concludes the DICE conference call. Thank you for participating. You may now disconnect.

Speaker Change #156: This concludes today's conference call. Thank you for participating. You may now disconnect.

Speaker Change #156: [inaudible]

Dinggui Yan: So to clarify that the increase on our SNM expenses is 15.7% per year. And if you talk about the number of our new borrowers, it will be 32.9%. So on the other hand, from the perspective of average per borrowing or per borrower created perspective, we have made more complex structural adjustment and set different differentiated business goals for different borrowers groups. So the final result is a decrease in the amount of borrowing amount.

Rong Hua: So, the final result is a decrease in the amount of borrowing amount. So, overall we hope to maintain the scale of facilitation volume to be stable and maybe some increase in this year. And also we want to ensure our operating purpose and also to expand the borrower base and enable us to be more flexible to meet the next stage of market changes. So, to clarify that the increase in the amount of borrowers is 8.8% per year and the increase in the amount of borrowers is 3.1% per year.

Dinggui Yan: So overall, we hope to maintain the skill of facilitation volume to be stable and maybe some increase in this year. And also we want to ensure our operating profits and also to expand the borrower base and enable us to be more flexibility meet the next stage of market changes.

Chunlin Fan: So I will turn over to Mr. Fan for your second question. First of all, it is the ability of the company to work hard and to continue to work hard in Q2. So the company's cash flow continued to improve, increasing by about 300,000 to 200,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000[inaudible] The Companies Act, Accounts Recivable Balance Group, they're down, and the recovery was very good, which made the Companies Act operating cash inflow and current profits show a stronger linear relationship.

Rong Hua: So, to clarify that the increase in the amount of borrowers is 2.1% per year and the increase in the amount of borrowers is 2.1% per year. So, the company's cash flow continued to improve and increasing by about 300,000,000,000 300 and tall milling RMB at the end of the second quarter, compared with the end of the first quarter and mainly due to two reasons, the first will be the company's profitability and operating cash flow performed very well and especially as the company's performance growth switched from the ultra high speed growth before 2023 to the high quality growth model.

Rong Hua: The company's account receivable balance grew very well and the recovery was very good, which made the company's net operating cash inflow and current profits show a stronger linear relationship. And the second is because the funds released by business model optimization with the strategic reduction of guarantee business and the continuous optimization of related commercial terms. The company's funds are occupied by the security deposit have been continuously released.

Chunlin Fan: And the second is because the funds released by a business model open organization, with the strategic reduction of guarantee business, and the continuous optimization of related commercial terms, the company's funds, all occupied by the security deposit, have been continuously released. In the next quarters, our company's cash flow situation will be continuously optimized, laying a solid foundation for the long-term sustainable development of the company's business, including the development of all received businesses.

Rong Hua: In the next quarter, our company's cash flow situation will be continuously optimized laying a solid foundation for the long-term sustainable development of the company's business including the development of all received businesses.

Chunlin Fan: So at the same time, if our policy permits, the company will continue to implement the currently existing dividend policy, and share a repurchased plan to continuously reward our shareholders, just as Mr. Yan, remarks before, on August 16, our report permits the current, the very first cash dividend of this year, which is $0.5 USD per ADS, and the ADS holders can expect to receive the dividends on the 6th of September. That will be my answer for your second question. Thank you.

Rong Hua: At the same time, if our policy permits, so the company will continue to implement the currently existing dividend policy and share repurchase plan to continuously reward our shareholders, just as Mr. Yan, remarks before, on August 16, our report permits the current, the very first cash dividend of this year, which is $0.5 USD per ADS, and the ADS holders can expect to receive the dividends on the 6th of September. That will be my answer for your second question. Thank you.

Shawn Zhang: I would like to turn the conference back to Shawn Zhang for closing remarks. Thank you, operator, and thank you all for participating on today's call, and thank you for your support. We appreciate your interest and look forward to reporting to you again next quarter on our progress.

Operator: This concludes today's conference call. Thank you for participating. You may now disconnect.

Operator: This concludes the DICE conference call. Thank you for participating.

Operator: You may now disconnect.

Q2 2024 Jiayin Group Inc Earnings Call

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