X Financial (XYF) has released an update.
X Financial has reported a robust start to 2024, with a significant 20.2% year-over-year increase in net revenue for Q1, reaching RMB 1.21 billion. The company’s net income also saw a noteworthy rise of 27.7% compared to the same period in 2023, amounting to RMB 363.1 million. Despite these financial gains, X Financial experienced a decrease in both the total loan amount facilitated and the number of active borrowers, highlighting potential challenges in the loan sector.
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