BRIEF: FinVolution revenue falls, as overseas growth continues

Online lending platform FinVolution Group (FINV.US) reported on Monday that its first-quarter revenue fell 20% year-over-year to 2.22 billion yuan ($327 million). But it continued to post strong growth overseas, with revenue for that part of its business rising 34.5% year-over-year to 949 million yuan. Its base of overseas borrowers rose to 4.5 million, while transaction volume increased 36.7%.

During the quarter, the company’s net profit fell 44.4% year-over-year to 415 million yuan. It blamed the decline mainly on adjustments to the scale of its China business, as well as continued investment in overseas expansion and risk-control infrastructure.

FinVolution’s transaction volume for the quarter totaled 38.5 billion yuan, down 21.6% from a year earlier, while its outstanding loan balance fell 9.8% to 65.1 billion yuan. The company’s cumulative registered users totaled 190 million at the end of March, while its cumulative borrowers totaled 29.6 million.

In terms of asset quality, FinVolution’s loans overdue by more than 90 days in Mainland China as a ratio of its overall portfolio stood at 3.11% at the end of March. The company maintained its full-year 2026 revenue guidance of between 11.5 billion yuan and 12.9 billion yuan.

FinVolution shares jumped 10.24% on the first trading day after the earnings release to close at $4.95 on Tuesday. Even after the jump, the stock remains down about 6% year-to-date.

By Lee Shih Ta

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