The following is a summary of the FinVolution Group (FINV) Q3 2024 Earnings Call Transcript:

Financial Performance:

• For Q3 2024, FinVolution Group reported a total transaction volume of RMB 52.2 billion and a total loan balance of RMB 68.1 billion, indicating a growth of 1.8% and 3.3% respectively year-over-year.

• Net revenue for the quarter reached RMB 3.3 billion, marking a 3% increase year-over-year and sequentially; Net income was RMB 624 million, displaying a 9% rise year-over-year and a 13% increase sequentially.

• Funding costs improved by an additional 50 basis points in Q3, with a total reduction of 190 basis points since the beginning of the year.

Business Progress:

• FinVolution reported significant progress in its international expansion, now expecting about 20% of its 2024 revenue to come from international markets. The company has also bolstered its leadership in this area with new hires including Dr. Sun Xiaodong as Senior Vice President for International Business.

• Strong growth was reported in new borrower numbers, especially in international markets, with a 60% year-over-year and 43% quarter-over-quarter increase in new borrowers from these regions.

• The company highlighted its partnerships with multiple renowned local and global financial institutions, which have supported its growth and provided new strategic opportunities.

• Leveraging technology through the integration of larger-language models into their operations, notably improving loan collection efficiency and securing against deepfake voice command frauds.

Opportunities:

• Market expansion is evident as international revenue is projected to grow significantly. The company aims to make 50% of its revenue from international markets by 2030.

• The company's partnerships with leading digital and traditional financial institutions promote operational synergies and enhance market penetration.

Risks:

• Even with positive developments, the growth in AI services could be gradual as technologies mature and integrate into the market.

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