• The FinVolution Group (NYSE: FINV) share price increased more than 7% before market launch. That’s why it happened.

The FinVolution Group (NYSE: FINV) share price increased more than 7% before market launch. Investors are responding positively to the company’s unaudited financial results for the first quarter of 2021.

Here are the highlights:

– The total number of cumulative registered users reached 125.3 million as of March 31, 2021.

– The total number of unique borrowers was 3.2 million as of March 31, 2021.

– The total number of new borrowers amounted to 1,005,000, an increase of 169.4% compared to the same period of 2020.

– Loans granted to total new borrowers amounted to 5.6 billion RMB, an increase of 250% compared to the same period of 2020.

– Loans to small business owners amounted to RMB 4.4 billion, or 16.4% of the total loan origination volume.

– The 90-day + default rate was 1.13% as of March 31, 2021, compared to 7.25% as of March 31, 2020.

– The average loan amount was 4,369 RMB for the first quarter of 2021, compared to 3,873 RMB for the same period of 2020.

– The average loan term was 8.4 months for the first quarter of 2021.

– Operating profit amounted to 655.7 million RMB (US $ 100.1 million) for the first quarter of 2021, an increase of 43.9% from the first quarter of 2020.

– Non-GAAP adjusted operating profit, which excludes pre-tax stock compensation expense, was RMB 671.2 million ($ 102.4 million) for the first quarter of 2021, an increase of 44.7% compared to the first quarter of 2020.

– Net profit amounted to 592.8 million RMB (90.5 million USD) for the first quarter of 2021, an increase of 41.0% compared to the first quarter of 2020.

Disclaimer: This content is intended for informational purposes. Before you make an investment, you need to do your own analysis.