X Financial Sees Strong Growth in Loan Facilitation and Active Borrowers in Q4 2024

X Financial Reports Robust Growth in Loan Facilitation and Active Borrowers

X Financial (NYSE: XYF), a key player in China's online personal finance sector, announces significant growth in its fourth quarter and fiscal year financial results for 2024. The company facilitates loans totaling RMB 32,297 million in Q4 2024, marking a remarkable 23.6% increase from RMB 26,134 million in the same quarter of the previous year. This surge underscores X Financial's effective strategies in expanding its lending operations, despite a slight decline in total loans for the year. The overall loan facilitation for 2024 reaches RMB 104,889 million, compared to RMB 105,557 million in 2023, indicating a potential stabilization in loan origination after previous growth.

The increase in active borrowers is another notable aspect of X Financial's recent performance. In Q4 2024, the number of active borrowers rises to 2,120,068, a significant increase of 32.2% from 1,603,760 in Q4 2023. This surge reflects the company's successful outreach and customer engagement initiatives, which have drawn more individuals into its financial services ecosystem. For the entire year, the active borrower count stands at 5,231,887, representing an impressive 16.4% increase from 4,495,997 in 2023. Such growth in borrower numbers is crucial for X Financial's sustainability and long-term profitability, as a larger customer base can lead to increased loan demand and diversified financial product offerings.

Furthermore, the company's delinquency rates indicate improved credit quality among its borrowers. As of December 31, 2024, the delinquency rate for loans overdue by 31-60 days decreases to 1.17%, down from 1.57% the previous year. Similarly, the delinquency rate for loans overdue by 91-180 days falls to 2.48%, a decrease from 3.12%. These improvements in loan performance highlight X Financial's effective risk management strategies and its commitment to maintaining healthy credit standards despite the competitive pressures in the Chinese financial sector.

In addition to these positive metrics, X Financial's commitment to leveraging technology continues to set it apart in the personal finance industry. The company's online platform not only streamlines the loan application process but also enhances borrower engagement through personalized financial education resources. This dual focus on technology and customer service positions X Financial favorably as it navigates the evolving landscape of personal finance in China.

Overall, X Financial's recent performance reflects a strong trajectory in loan facilitation and borrower engagement, showcasing its resilience in a competitive market while also emphasizing the importance of sound credit management.