Market view in daily routine: Yiren Digital Ltd – ADR (NYSE: YRD)

On Thursday, Yiren Digital Ltd – ADR (NYSE: YRD) remained among the day losers and traded with change of -4.94% on volume of 160111 shares in the last session as compared to average volume of 205833 shares. During last trade its minimum price was $3.66 and it gained highest price of $3.92. YRD has total market capitalization of $339671761. Its closing value stands at $3.66.

Yiren Digital Ltd. (YRD) recently reported its unaudited financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Operational Highlights

Wealth Management—Yiren Wealth

Cumulative number of investors served reached 2,218,181 as of March 31, 2020, representing a raise of 0.3% from 2,210,530 as of December 31, 2019 and contrast to 2,159,771 as of March 31, 2019.

Number of current investors was 220,568 as of March 31, 2020, representing a decrease of 10.5% from 246, 561 as of December 31, 2019.

Number of current non-P2P investors was 26,346 as of March 31, 2020, representing a raise of 23.3% from 21,360 as of December 31, 2019 and contrast to 19,236 as of March 31, 2019.

Total assets under administration (“AUA”) for P2P products on Yiren Wealth was RMB 30,536.4M (US$ 4,312.6M) as of March 31, 2020, representing a decrease of 10.9% from RMB 34,264.8M as of December 31, 2019, and contrast to RMB 46,236.7M as of March 31, 2019.

Total AUA for non-P2P products on Yiren Wealth was RMB 1,713.1M (US$241.9M) as of March 31, 2020, representing a raise of 66.8% from RMB 1,026.9M as of December 31, 2019 and contrast to RMB 424.9M as of March 31, 2019.

Sales volume of non-P2P products amounted to RMB 2,163.3M (US$ 305.5M) in the first quarter of 2020, representing a decrease of 15.1% from RMB 2,548.4M in the fourth quarter of 2019 and contrast to RMB 328.7M in the same period of 2019.

Consumer Credit—Yiren Credit

Total loan originations in the first quarter of 2020 reached RMB 1.8B (US$0.3B), representing a decrease of 77.0% from RMB 8.0B in the fourth quarter of 2019 and contrast to RMB 10.9B in the first quarter of 2019.

Cumulative number of borrowers served reached 4,810,184 as of March 31, 2020, representing a raise of 2.4% from 4,695,487 as of December 31, 2019 and contrast to 4,405,115 as of March 31, 2019.

Number of borrowers served in the first quarter of 2020 was 115,420, representing a decrease of 8.1% from 125,622 in the fourth quarter of 2019 and contrast to 149,715 in the first quarter of 2019.

The percentage of loan volume generated by repeat borrowers was 4.9% in the first quarter of 2020.

51.4% of loan originations were generated online in the first quarter of 2020.

Total outstanding principal balance of performing loans reached RMB 42,063.0M (US$ 5,940.4M) as of March 31,2020, representing a decrease of 17.8% from RMB 51,157.3M as of December 31, 2019.

“For credit business, we have rolled out a series of new products to provide a full spectrum of credit services and meet broader needs for mainstream consumers’ daily financing, including small-ticket-shorter-tenor loans, auto loans and SME loans. For the micro and small loans, we released our products and services partnering with online consumption platforms. To fully leverage our nationwide service network coverage, we have rolled out auto loans targeted at second-handed cars, and the business has shown encouraging early growth momentum.”

“On the wealth management front, non-P2P products are increasingly popular among investors and have seen strong growth. As of March 31, 2020, the total AUA for non-P2P products on Yiren Wealth grew to RMB 1,713.1M, representing a 66.8% quarter-over-quarter growth and 303.2% year-over-year growth. Particularly we see strong demand of our fund products during the first quarter, with a 56.8% quarter-over-quarter growth of AUA driven by our new product offerings and also consumers’ strong demand, we expect this growth trends to continue through the year.”

The price moved ahead of -10.38% from the mean of 20 days, -11.43% from mean of 50 days SMA and performed -23.04% from mean of 200 days price. Company’s performance for the week was -5.18%, -29.34% for month and YTD performance remained -34.05%.

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