Yiren Digital Ltd (NYSE:YRD)
$ 5.92 -0.27 (-4.36%) Market Cap: 514.63 Mil Enterprise Value: -296.58 Mil PE Ratio: 1.87 PB Ratio: 0.42 GF Score: 64/100
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Q2 2024 Yiren Digital Ltd Earnings Call Transcript

Aug 20, 2024 / 12:00PM GMT
Release Date Price: $4.8 (-2.44%)

Key Points

Positve
  • Total loan volume reached RMB12.9 billion, marking a 59% increase year-over-year.
  • Number of borrowers served increased by 47% year-over-year to 1.5 million.
  • Monthly active users on the loan facilitation platform rose by 88% year-over-year to 4.5 million.
  • Customer acquisition costs decreased by 18% quarter-over-quarter.
  • The company announced a new dividend policy, with the first cash dividend set at USD0.2 per American depository share.
Negative
  • Gross written premiums in the insurance brokerage business decreased by 20% year-over-year.
  • Revenue from the insurance segment was down 77% year-over-year.
  • Sales and marketing expenses increased by 21% year-over-year.
  • Allowance for contract assets and receivables increased by 152% year-over-year.
  • Net income decreased by 22% year-over-year.
Operator

Good day, and welcome to the Yiren Digital second quarter 2024 earnings conference call. (Operator Instructions). Please note this event is being recorded. I would now like to turn the conference over to Keyao He, Investor Relations Officer. Please go ahead.

Keyao He
Yiren Digital Ltd - Investor Relations Officer

Thank you, operator. Good morning and good evening, everyone. Today's call features a presentation by our Founder, Chairman and CEO of Yiren Digital, Mr. Ning Tang; and our CFO, Ms. Na Mei. Our new CFO, Mr. Yuning Feng, will also attend the Q&A session after the prepared remarks.

Before beginning, we'd like to remind you the discussions during this call contain forward-looking statements made under the safe harbor provision of US Private Securities Litigation Reform Act of 1995. Such statements are subject to risks, uncertainties, and factors that can cause actual results to differ materially from those contained in any such statements. Further information regarding future risks, uncertainties, or factors is included in our filings with

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