The following is a summary of the Jiayin Group Inc. (JFIN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• In Q3 2024, Jiayin Group reported a loan facilitation volume of approximately RMB26.7 billion, marking a new record and indicating a 10.3% increase year-over-year.

• Revenue from loan facilitation services reached RMB1.1 billion, up 18.1% year-over-year.

• Net income for the quarter was RMB269.6 million, down 16.8% from the same period last year, due to increased borrower acquisition and credit costs.

Business Progress:

• Jiayin Group has enhanced its technology with upgrades like the Wenquxing knowledge base and the launch of the MingYi automated machine learning platform.

• The company has also expanded institutional partnerships, now collaborating with 70 diverse financial institutions.

• Continuing its focus on borrower acquisition, Jiayin obtained 826,000 new borrowers in Q3, showing a year-over-year growth of approximately 71.3%.

• Expansion in overseas markets, particularly in Indonesia and adjustments in Nigerian operations, reflect strategic international growth.

Opportunities:

• The company sees ongoing opportunities in technological innovation driving growth, particularly in intelligent operations and customer service improvements.

• Growth in overseas markets like Indonesia indicates potential for further international expansion.

Risks:

• The gradual growth of AI services as they scale and reach general availability may affect the pace of revenue and profit growth.

• Intense competition in international markets, especially Indonesia, poses challenges to market share and profitability.

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