X Financial Announces Unaudited Financial Results for Third Quarter 2024

Operational Highlights

Three Months Ended September 30, 2023

Total loan amount facilitated and originated: 29,462 million RMB

Number of active borrowers: 1,809,815

Three Months Ended June 30, 2024

Total loan amount facilitated and originated: 22,749 million RMB

Number of active borrowers: 1,642,605

Three Months Ended September 30, 2024

Total loan amount facilitated and originated: 28,338 million RMB

Number of active borrowers: 1,965,248

X Financial, a leading online personal finance company in China, reported its unaudited financial results for the third quarter ended September 30, 2024. The total loan amount facilitated and originated in the third quarter of 2024 was 28,338 million RMB, representing a 24.6% increase from the previous quarter and a 3.8% decrease year-over-year.

Impact on Individuals

For individual borrowers, this may mean more access to online personal finance options and potentially lower interest rates as competition among lenders increases. It could also lead to greater financial inclusion as more people are able to obtain loans through platforms like X Financial.

Impact on the World

On a global scale, the financial results of X Financial could indicate trends in the online personal finance industry in China and potentially influence similar companies around the world. The company’s performance may also impact investor confidence in the fintech sector and lead to changes in regulations or market dynamics.

Conclusion

The third quarter financial results of X Financial demonstrate the company’s continued growth and impact in the online personal finance sector. With an increasing number of active borrowers and a significant total loan amount facilitated, X Financial remains a key player in the industry both domestically and globally.