On Wednesday, U.S. stocks closed with Finvolution rising 5.57%, at $6.63.
According to the Zhito Finance APP, on Wednesday, U.S. stocks closed with Finvolution (FINV.US) rising 5.57%, at $6.63. Finvolution's previously announced third-quarter financial report showed revenue of 3.276 billion yuan (RMB, the same below), an increase of 2.5% year-on-year; net income of 0.624 billion yuan, an increase of 8.6% year-on-year. In terms of operation indicators, the transaction volume facilitated in the quarter was nearly 52.2 billion yuan, an increase of 1.8% year-on-year; the loan balance was 68.1 billion yuan, an increase of 3.3% year-on-year. As of the end of the third quarter, the company had served a total of 32.6 million users in domestic and international markets.
In addition, earlier this week, jefferies financial analyst Thomas Chong maintained a 'buy' rating on Finvolution and raised the target price from $6.2 to $7.2.
