Jiayin Group Inc. announced its unaudited financial results for the third quarter ended September 30, 2024. The company reported a loan facilitation volume of RMB26.7 billion, marking a 10.3% increase compared to the same period in 2023. Loan facilitation service revenue also grew by 18.1% year-over-year, reaching RMB1,105.7 million, primarily driven by service fee optimization and increased volume from institutional funding partners.
Despite growth in loan facilitation, net revenue for the quarter decreased by 1.5% to RMB1,444.9 million from the same period in 2023. Net income also saw a decline of 16.8% year-over-year, totaling RMB269.6 million, with basic and diluted net income per ADS at RMB5.08 (US$0.72). The company's income from operations decreased by 18.3% to RMB311.9 million.
In a recent development, the Board of Directors approved an amended dividend policy on November 19, 2024, to distribute cash dividends once each fiscal year, starting from 2025, at an aggregate amount of no less than 15% of the previous fiscal year's net income after tax. Additionally, as of November 20, 2024, the company had repurchased approximately 3.5 million of its ADSs for approximately US$15.0 million under a plan extended to June 12, 2025, with an aggregate value not exceeding US$30 million.
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