X Financial (XYF)

X Financial Reports First Quarter 2026 Unaudited Financial ResultsMay 27, 2026 4:50 PM
PR Newswire (US) SHENZHEN, China, May 27, 2026 /PRNewswire/ -- X Financial (NYSE: XYF), a leading Chinese fintech platform, today announced its unaudited financial results for the first quarter ended March 31, 2026. This press release should be read in conjunction with the Company's Report on Form 6-K for the first quarter ended March 31, 2026, which has been furnished to the U.S. Securities and Exchange Commission and is available on the SEC's website at www.sec.gov and on the Company's investor relations website at http://ir.xiaoyinggroup.com. First Quarter 2026 Financial and Operational HighlightsTotal net revenue in Q1 2026 was RMB1.18 billion (US$170.5 million), a decrease of 39.3% year-over-year and 19.9% quarter-over-quarter. The year-over-year decline was primarily driven by significantly lower loan facilitation volumes amid the Company's continued tightening of credit standards and focus on higher-quality origination.Total loan amount facilitated and originated[1] in Q1 2026 was RMB14.63 billion, down 35.8% quarter-over-quarter and down 58.4% year-over-year.Net income in Q1 2026 was RMB37.9 million (US$5.5 million), a decrease of 91.7% year-over-year, primarily reflecting substantially higher credit-related provisions and significantly lower loan facilitation revenue amid reduced origination volumes.Delinquency rates for loans 31–60 days past due improved to 2.61% (from 2.90% at Q4 2025 year-end and 1.25% a year ago); loans 91–180 days past due increased to 9.95% (from 6.31% at Q4 2025 year-end and 2.73% a year ago). The increase in the 91–180 day delinquency rate primarily reflects the migration of previously delinquent balances further into that bucket and the effect of a significantly reduced total outstanding loan balance, both of which contribute to a higher reported rate, rather than a deterioration in the quality of more recent originations.Mr. Kent Li, President of X Financial, commented: "In the first quarter of 2026, we facilitated and originated RMB14.6 billion in loans, reflecting a substantial decline of 35.8% from the prior quarter and 58.4% year-over-year. Borrower activity continued to moderate, with active borrowers declining to approximately 956,520, down 60.6% from a year ago, reflecting the Company's deliberate focus on higher-quality origination and tighter credit standards. The 31–60 day delinquency rate eased to 2.61% from 2.90% in the prior quarter, reflecting improvement in more recent origination quality. The 91–180 day rate rose to 9.95%, driven by the migration of existing delinquent balances further into that bucket rather than fresh deterioration in new originations. In response, we have further strengthened our risk management framework, enhanced collection strategies, and adjusted capital deployment to preserve balance sheet resilience. While profitability was significantly impacted by higher provisions and narrower margins, we believe these actions appropriately position the Company for the challenging environment ahead."Mr. Frank Fuya Zheng, Chief Financial Officer of X Financial, added: "In the first quarter of 2026, total net revenue was RMB1.18 billion, a decrease of 39.3% from the same period last year and 19.9% sequentially. Net income was RMB37.9 million and non-GAAP adjusted net income was RMB81.2 million, both significantly lower than the prior year period, primarily due to substantially higher credit-related provisions and significantly lower loan facilitation revenue amid reduced origination volumes. Basic earnings per ADS were RMB0.96, and non-GAAP adjusted earnings per ADS were RMB2.10. Operating margin improved to 12.0% from 1.4% in the prior quarter, though remained significantly below the 29.6% recorded in the same period of 2025, reflecting the ongoing impact of elevated credit costs and reduced contribution from higher-margin facilitation services. We will continue to manage capital conservatively, strengthen our balance sheet, and maintain cost discipline to support business resilience amid an evolving regulatory and operating landscape."[1] Represents the total amount of loans that the Company facilitated and originated during the relevant period.First Quarter 2026 GAAP and Non-GAAP Financial Summary(In thousands, except for share and per share data)Three Months Ended
March 31, 2025Three Months Ended
December 31, 2025Three Months Ended
March 31, 2026QoQYoY
RMBRMBRMB

Total net revenue1,937,5051,467,8431,176,139(19.9 %)(39.3 %)Total operating costs and expenses(1,364,600)(1,447,660)(1,035,481)(28.5 %)(24.1 %)Income from operations572,90520,183140,658596.9 %(75.4 %)Net income458,12757,16737,947(33.6 %)(91.7 %)Non-GAAP adjusted net income466,76661,32081,18032.4 %(82.6 %)





Net income per ADS—basic10.921.440.96(33.3 %)(91.2 %)Net income per ADS—diluted 10.561.440.96(33.3 %)(90.9 %)





Non-GAAP adjusted net income per ADS—basic11.101.562.1034.6 %(81.1 %)Non-GAAP adjusted net income per ADS—diluted 10.741.562.0430.8 %(81.0 %) Business Outlook & Capital ReturnBusiness Outlook: Based on current trends, X Financial expects the total loan amount facilitated and originated in the second quarter of 2026 to be in the range of RMB 11.5 billion to RMB 12.5 billion. This guidance reflects a measured pace of origination following a sequential decline in the first quarter and management's continued focus on asset quality, credit discipline, and profitability optimization rather than aggressive volume expansion. The Company remains attentive to recent regulatory developments and evolving credit conditions, and acknowledges that potential regulatory changes, once implemented, could adversely affect margins and profitability. The Company will continue to exercise prudent risk control and disciplined execution to navigate the evolving environment and support long-term business resilience.Capital Return to Shareholders: From January 1, 2026 through May 15, 2026, X Financial repurchased an aggregate of approximately 1.8 million ADSs, for a total consideration of approximately US$8.2 million under its share repurchase programs. The Company now has approximately US$39.8 million remaining under its existing US$100 million share repurchase program, which is effective through November 30, 2026. This program reflects the Company's commitment to returning capital to shareholders and enhancing long-term shareholder value, subject to ongoing assessment of market and regulatory conditions. Repurchases under the program remain subject to market conditions and other factors and may be modified or suspended at management's discretion.Regulatory UpdateThe regulatory environment governing internet-based lending in the People's Republic of China continued to evolve during the first quarter of 2026, with authorities further strengthening oversight across the consumer credit business chain. The Company continues to monitor these developments closely; however, management has limited visibility into the ultimate scope and direction of implementation. If current and emerging regulatory requirements are implemented as currently understood, the Company's operating results may be materially and adversely affected, and historical levels of profitability should not be assumed to be indicative of future performance.Conference CallX Financial's management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on May 28, 2026 (7:30 PM Beijing / Hong Kong Time on May 28, 2026).Dial-in details for the earnings conference call are as follows:United States:1-888-346-8982Hong Kong: 800-905945Mainland China: 4001-201203International: 1-412-902-4272Passcode:X FinancialPlease dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.A replay of the conference call may be accessed by phone at the following numbers until June 04, 2026:United States:1-855-669-9658International: 1-412-317-0088Passcode: 1485675Additional InformationThis press release contains highlights only. For the Company's complete financial results and management's discussion and analysis for the first quarter ended March 31, 2026, please refer to the Form 6-K filed with the U.S. Securities and Exchange Commission on May 27, 2026.About X FinancialX Financial (NYSE: XYF) (the "Company") is a leading Chinese fintech platform. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.For more information, please visit http://ir.xiaoyinggroup.com.Use of Non-GAAP Financial MeasuresIn evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors' assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income (loss) per basic share, and (v) adjusted net income (loss) per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments, gain (loss) from financial investments at equity method and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.Exchange Rate InformationThis press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8980 to US$1.00, the exchange rate in effect as of March 31, 2026, as published in the Federal Reserve Board's H.10 statistical release. Percentages stated in this release are calculated based on the RMB amounts.DisclaimerSafe Harbor StatementThis announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.Use of ProjectionsThis announcement also contains certain financial forecasts (or guidance) with respect to the Company's projected financial results. The Company's independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company's historical information.For more information, please contact:X Financial
Mr. Noah Kauffman (Chief Financial Strategy Officer)
E-mail: ir@xiaoying.com  X Financial




Unaudited Condensed Consolidated Balance Sheets










(In thousands, except for share and per share data)As of December 31,
2025
As of March 31,
2026
As of March 31, 2026
 RMB 
RMB
USD ASSETS 




 Cash and cash equivalents 987,631
1,021,230
148,047 Restricted cash, net 1,145,962
1,348,104
195,434 Accounts receivable and contract assets, net 3,145,976
2,498,233
362,168 Loans receivable from Credit Loans and other loans, net 5,298,631
4,318,579
626,062 Deposits to institutional cooperators, net 1,713,593
1,409,915
204,395 Prepaid expenses and other current assets 43,547
37,906
5,495 Deferred tax assets, net 455,358
506,794
73,470 Long term investments 515,524
522,389
75,731 Property and equipment, net 23,900
26,426
3,831 Intangible assets, net 39,183
38,839
5,630 Financial investments 1,243,076
1,825,817
264,688 Other non-current assets 53,364
52,244
7,574 TOTAL ASSETS 14,665,745
13,606,476
1,972,525





 LIABILITIES 




 Payable to investors and institutional funding partners at amortized cost 3,054,982
2,407,547
349,021 Contingent guarantee liabilities 748,307
590,611
85,621 Deferred guarantee income 467,629
388,880
56,376 Financial guarantee derivative 15,426
14,505
2,103 Short-term borrowings 409,530
353,871
51,301 Accrued payroll and welfare 76,058
30,703
4,451 Other tax payable 221,940
207,591
30,094 Income tax payable 677,521
749,170
108,607 Accrued expenses and other current liabilities 1,053,071
895,929
129,882 Dividend payable -
73,919
10,716 Other non-current liabilities 34,807
32,854
4,763 Deferred tax liabilities 69,673
92,339
13,386 TOTAL LIABILITIES 6,828,944
5,837,919
846,321





 Commitments and Contingencies 




 Equity: 




 Common shares (234,517,901 and 231,097,037 shares outstanding as of December 31, 2025
and March 31, 2026, respectively) 207
207
30 Treasury stock   (967,773)
(988,210)
(143,260) Additional paid-in capital 3,256,349
3,257,252
472,202 Retained earnings 5,484,294
5,448,322
789,841 Other comprehensive income 63,724
50,986
7,391 TOTAL EQUITY 7,836,801
7,768,557
1,126,204





 TOTAL LIABILITIES AND EQUITY 14,665,745
13,606,476
1,972,525  X Financial


Unaudited Condensed Consolidated Statements of Comprehensive Income 




 Three Months Ended March 31, (In thousands, except for share and per share data)202520262026
 RMB  RMB  USD Net revenues


Loan facilitation service1,078,379270,71439,245Post-origination service266,041196,20628,444Financing income310,140337,77448,967Guarantee income82,929258,29437,445Other revenue200,016113,15116,403Total net revenue1,937,5051,176,139170,504



Operating costs and expenses:


Origination and servicing473,725485,36470,363Borrower acquisitions and marketing709,007219,76031,859General and administrative51,74447,1216,831Provision for accounts receivable and contract assets9,04830,7784,462Provision for loans receivable62,19652,3267,586Provision for contingent guarantee liabilities63,748200,00928,995Change in fair value of financial guarantee derivative(5,417)34049Provision for (reversal of) credit losses for deposits and other financial assets549(217)(31)Total operating costs and expenses1,364,6001,035,481150,114



Income from operations572,905140,65820,390Interest income2,9227,3141,060Interest expenses(5,641)(2,067)(300)Foreign exchange (loss) gain (12,482)3,023438Loss from financial investments(3,678)(1,878)(272)Impairment losses on financial investments-(6,715)(973)Other income, net1,935(3,491)(506)



Income before income taxes555,961136,84419,837



Income tax expense(116,528)(72,204)(10,467)(Loss) gain from equity in affiliates, net of tax(2,182)5,107740Gain (loss) from financial investments at equity method, net of tax20,876(31,800)(4,610)Net income458,12737,9475,500Less: net income attributable to non-controlling interests---Net income attributable to X Financial shareholders458,12737,9475,500



Net income 458,12737,9475,500Other comprehensive income, net of tax of nil:


Gain from equity in affiliates-426Loss from financial investments(768)--Foreign currency translation adjustments(198)(12,780)(1,853)Comprehensive income457,16125,2093,653Less: comprehensive income attributable to non-controlling interests---Comprehensive income attributable to X Financial shareholders457,16125,2093,653



Net income per share—basic1.820.160.02Net income per share—diluted 1.760.160.02



Net income per ADS—basic10.920.960.14Net income per ADS—diluted 10.560.960.14



Weighted average number of ordinary shares outstanding—basic252,292,800234,143,092234,143,092Weighted average number of ordinary shares outstanding—diluted260,864,033236,519,179236,519,179  X Financial


Unaudited Reconciliations of GAAP and Non-GAAP Results







Three Months Ended March 31,(In thousands, except for share and per share data)202520262026
RMBRMBUSDGAAP net income458,12737,9475,500Less: Income (loss) from financial investments (net of tax of nil)(3,678)(1,878)(272)Less: Impairment losses on financial investments (net of tax of nil)-(6,715)(973)Less: Impairment losses on long-term investments (net of tax)---Less: Gain (loss) from financial investments at equity method (net of tax of nil)20,876(31,800)(4,610)Add: Share-based compensation expenses (net of tax of nil)25,8372,840412Non-GAAP adjusted net income466,76681,18011,767



Non-GAAP adjusted net income per share—basic1.850.350.05Non-GAAP adjusted net income per share—diluted 1.790.340.05



Non-GAAP adjusted net income per ADS—basic11.102.100.30Non-GAAP adjusted net income per ADS—diluted 10.742.040.30



Weighted average number of ordinary shares outstanding—basic252,292,800234,143,092234,143,092Weighted average number of ordinary shares outstanding—diluted260,864,033236,519,179236,519,179   View original content:https://www.prnewswire.com/news-releases/x-financial-reports-first-quarter-2026-unaudited-financial-results-302783121.htmlSOURCE X Financial Original: X Financial Reports First Quarter 2026 Unaudited Financial Results

X Financial to Report First Quarter 2026 Financial Results on May 28, 2026May 21, 2026 6:00 AM
PR Newswire (US) SHENZHEN, China, May 21, 2026 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company"), a leading online personal finance company in China, today announced that it will release its unaudited financial results for the first quarter ended March 31, 2026, before the open of U.S. markets on Thursday, May 28 2026.X Financial's management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Thursday, May 28, 2026 (7:30 PM Beijing / Hong Kong Time on the same day).Dial-in details for the earnings conference call are as follows:United States:1-888-346-8982Hong Kong:800-905945Mainland China:4001-201203International:1-412-902-4272Passcode:X FinancialPlease dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.A replay of the conference call may be accessed by phone at the following numbers until June 4, 2026:United States:1-855-669-9658International:1-412-317-0088Passcode:1485675Additionally, a live and archived webcast of the conference call will be available at https://ir.xiaoyinggroup.com.About X FinancialX Financial is a leading online personal finance company in China. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate loans to prime borrowers under a robust risk assessment and control system.For more information, please visit: https://ir.xiaoyinggroup.com.For more information, please contact:X Financial
Mr. Frank Fuya Zheng
Mr. Noah Kauffman
E-mail: ir@xiaoying.com  View original content:https://www.prnewswire.com/news-releases/x-financial-to-report-first-quarter-2026-financial-results-on-may-28-2026-302778491.htmlSOURCE X Financial Original: X Financial to Report First Quarter 2026 Financial Results on May 28, 2026

X Financial Files Annual Report on Form 20-F for Fiscal Year 2025April 30, 2026 6:50 AM
PR Newswire (US)

SHENZHEN, China, April 30, 2026 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company" or "we"), a leading online personal finance company in China, today announced it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission ("SEC") on April 30, 2026. The annual report can be accessed on the Company's investor relations website at https://ir.xiaoyinggroup.com as well as the SEC's website at https://www.sec.gov.The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to the Company's IR Department at ir@xiaoying.com.About X FinancialX Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.For more information, please visit: http://ir.xiaoyinggroup.com.For more information, please contact:X Financial
Mr. Frank Fuya Zheng
Mr. Noah Kauffman
E-mail: ir@xiaoying.com



View original content:https://www.prnewswire.com/news-releases/x-financial-files-annual-report-on-form-20-f-for-fiscal-year-2025-302758555.htmlSOURCE X Financial

Original: X Financial Files Annual Report on Form 20-F for Fiscal Year 2025

X Financial Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial ResultsMarch 25, 2026 4:50 PM
PR Newswire (US)

SHENZHEN, China, March 25, 2026 /PRNewswire/ -- X Financial (NYSE: XYF), a leading Chinese fintech platform, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025. This press release should be read in conjunction with the Company's Report on Form 6-K for the fourth quarter and fiscal year ended December 31, 2025, which has been furnished to the U.S. Securities and Exchange Commission and is available on the SEC's website at www.sec.gov and on the Company's investor relations website at http://ir.xiaoyinggroup.com.Fourth Quarter and Fiscal Year 2025 Financial HighlightsTotal net revenue in Q4 2025 was RMB1,467.8 million (US$209.9 million), a decrease of 14.1% year-over-year and 25.1% quarter-over-quarter. For fiscal year 2025, total net revenue was RMB7,639.4 million (US$1,092.4 million), an increase of 30.1% from 2024.Total loan amount facilitated and originated[1] in Q4 2025 was RMB22,768 million, down 29.5% year-over-year and 32.3% quarter-over-quarter. For fiscal year 2025, total loan amount facilitated and originated was RMB130,552 million, an increase of 24.5% from RMB104,889 million in fiscal year 2024.Net income in Q4 2025 was RMB57.2 million (US$8.2 million), a decrease of 85.2% year-over-year, driven by higher credit-related provisions and lower loan facilitation revenue. For fiscal year 2025, net income was RMB1,464.6 million (US$209.4 million), compared with RMB1,539.9 million in 2024.Delinquency rates for loans 31–60 days past due increased to 2.90% (from 1.17% a year ago); loans 91–180 days past due increased to 6.31% (from 2.48% a year ago), reflecting deteriorating asset quality and the Company's adoption of more conservative provisioning.Mr. Kent Li, President of X Financial, commented: "In the fourth quarter of 2025, we facilitated and originated RMB22.8 billion in loans, a decline of 32.3% from the prior quarter and 29.5% year-over-year. Borrower activity moderated further, with active borrowers declining to approximately 1.69 million, down 20.2% from a year ago, reflecting the Company's deliberate focus on higher-quality origination and tighter credit standards across our core channels. Asset quality came under increased pressure, with the 31–60 day delinquency rate rising to 2.90% and the 91–180 day delinquency rate increasing to 6.31%. These trends reflected continued stress in certain borrower segments and a more conservative industry-wide risk posture. In response, we have strengthened our risk management framework, enhanced collection strategies, and adjusted capital deployment to preserve balance sheet resilience. While profitability was significantly impacted by higher provisions and narrower margins, we believe these actions position the Company for more stable performance over the medium term. Looking ahead, we remain focused on asset quality, disciplined growth, and maintaining strong liquidity to navigate ongoing market uncertainty."Mr. Frank Fuya Zheng, Chief Financial Officer of X Financial, added: "In the fourth quarter of 2025, total net revenue was RMB1.47 billion, a decrease of 14.1% from the same period last year and 25.1% sequentially. Net income was RMB57.2 million and non-GAAP adjusted net income was RMB61.3 million, both significantly lower than the prior quarter, primarily due to substantially higher provisions and lower loan facilitation revenue amid reduced origination volumes. Basic earnings per ADS were RMB1.44, and non-GAAP adjusted earnings per ADS were RMB1.56, both lower than the prior quarter, reflecting the impact of elevated credit costs during the period. Operating margin declined to 1.4%, compared with 18.5% in the prior quarter and 30.7% in the same period last year, mainly driven by higher provisioning and reduced contribution from higher-margin facilitation services. We will continue to manage capital conservatively, strengthen our balance sheet, and maintain cost discipline to support business resilience amid an evolving regulatory and operating landscape."Fourth Quarter 2025 GAAP and Non-GAAP Financial Summary(In thousands, except for share and per share data)Three Months Ended
December 31, 2024Three Months Ended
September 30, 2025Three Months Ended
December 31, 2025QoQYoY
 RMB  RMB  RMB

Total net revenue1,708,7221,960,9541,467,843(25.1 %)(14.1 %)Total operating costs and expenses(1,183,510)(1,599,021)(1,447,660)(9.5 %)22.3 %Income from operations525,212361,93320,183(94.4 %)(96.2 %)Net income385,626421,24157,167(86.4 %)(85.2 %)Non-GAAP adjusted net income408,022438,17861,320(86.0 %)(85.0 %)





Net income per ADS—basic8.2210.561.44(86.4 %)(82.5 %)Net income per ADS—diluted 8.0410.081.44(85.7 %)(82.1 %)





Non-GAAP adjusted net income per ADS—basic8.7011.041.56(85.9 %)(82.1 %)Non-GAAP adjusted net income per ADS—diluted 8.4610.441.56(85.1 %)(81.6 %) Business Outlook & Capital ReturnBusiness Outlook: Given the limited visibility at the start of the year and evolving market conditions, X Financial expects the total loan amount facilitated and originated in the first quarter of 2026 to be in the range of RMB 14.5 billion to RMB 15.5 billion. This outlook reflects management's cautious approach amid ongoing macroeconomic and regulatory uncertainty, with continued emphasis on asset quality, disciplined risk management, and sustainable profitability. The forecast represents the Company's current preliminary view and remains subject to change as the year progresses.Capital Return to Shareholders: As of March 15, 2026, under the Company's US$100 million share repurchase program, the Company had repurchased an aggregate of approximately 3.79 million ADSs, including approximately 3.37 million ADSs and 2.53 million Class A ordinary shares, for a total consideration of approximately US$53.85 million. The Company now has approximately US$46.15 million remaining under the share repurchase program, which is effective through November 30, 2026. This program underscores the Company's confidence in its long-term growth outlook and its commitment to enhancing shareholder value. Repurchases under the program remain subject to market conditions and other factors and may be modified or suspended at management's discretion.Declaration of Semi-Annual Dividend: Pursuant to the semi-annual dividend policy, the Board today approved the declaration and payment of a semi-annual dividend of US$0.28 per ADS (approximately US$0.0467 per ordinary share). The holders of the Company's ordinary shares shown on the Company's record at the close of trading on April 30, 2026 (U.S. Eastern Daylight Time) will be entitled to the semi-annual dividend. These shareholders, including the Bank of New York Mellon, the depositary of our ADS program (the "Depositary"), will receive the payments of dividends on or about May 20, 2026. Dividends to the Company's ADS holders will be paid by the Depositary after May 20, 2026, and the precise timing of receipt will vary based on the processing efficiency of the respective holding brokerage.Regulatory UpdateThe regulatory environment governing internet-based lending in the People's Republic of China continued to evolve during fiscal year 2025, with authorities increasingly refining and strengthening oversight across the entire consumer credit business chain.The most significant development during the period was Notice 9, issued by the National Financial Regulatory Administration on April 1, 2025, which requires commercial banks to strictly control total borrowing costs. Although Notice 9 does not explicitly stipulate a cap of not exceeding 24% per annum, in practice, a 24% per annum cap on total borrowing cost for a single loan is generally implemented and enforced.Importantly, 24% per annum may not represent the outer boundary of pricing pressure. During the period, regulatory authorities continued to tighten total borrowing cost caps applicable to microcredit companies and consumer finance companies, and such entities may face de facto requirements set at levels below 24%. The extent to which such requirements may fall below 24%, and the pace and manner of their implementation across different institution types and jurisdictions, remain highly uncertain. The Company currently has no reliable basis upon which to predict the ultimate scope, stringency, or trajectory of applicable borrowing cost limitations. The Company expects that, if current and emerging regulatory requirements are implemented as currently understood, its operating results will be adversely and materially affected relative to those achieved in prior fiscal years. The magnitude of such impact is subject to significant uncertainty; however, investors should not assume that the Company's historical levels of profitability are indicative of future performance, and the possibility of operating losses in future periods cannot be excluded.Notice 9 also requires commercial bank head offices to implement whitelist management systems for loan facilitation platform operators, prohibiting cooperation with institutions not included on such lists. The implementation of whitelist requirements has introduced additional uncertainty with respect to the Company's funding relationships. By way of illustration only, current practices regarding whitelist administration vary across banking groups and their respective subsidiaries, and it is possible that future regulatory guidance could alter the level at which such determinations are made in ways that may affect the Company's authorized funding relationships. This example is indicative of the broader unpredictability of the regulatory environment, and numerous other aspects of implementation remain similarly subject to change without notice or predictability.Separately, payment institution rating measures issued by the People's Bank of China in December 2025 extend regulatory oversight further across the lending chain, increasing overall compliance burdens and operational costs for industry participants.The Company is closely monitoring these developments as they continue to evolve into 2026. Management currently has limited visibility into the ultimate scope, pace, and direction of implementation, and the potential impact of these regulatory changes on the Company's business, financial condition, and results of operations cannot be determined with any degree of certainty at this time.Conference CallX Financial's management team will host an earnings conference call at 8:30 AM U.S. Eastern Time on March 26, 2026 (8:30 PM Beijing / Hong Kong Time on March 26, 2026).Dial-in details for the earnings conference call are as follows:United States:1-888-346-8982Hong Kong: 800-905945Mainland China: 4001-201203International: 1-412-902-4272Passcode:X FinancialPlease dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.  A replay of the conference call may be accessed by phone at the following numbers until April 2, 2026:United States:1-855-669-9658International: 1-412-317-0088Passcode: 7562117 Additional InformationThis press release contains highlights only. For the Company's complete financial results and management's discussion and analysis for the fourth quarter and fiscal year ended December 31, 2025, please refer to the Form 6-K filed with the U.S. Securities and Exchange Commission on March 25, 2026.About X FinancialX Financial (NYSE: XYF) (the "Company") is a leading Chinese fintech platform. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.For more information, please visit http://ir.xiaoyinggroup.com.Use of Non-GAAP Financial MeasuresIn evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors' assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income (loss) per basic share, and (v) adjusted net income (loss) per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments, gain (loss) from financial investments at equity method and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.Exchange Rate InformationThis press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.9931 to US$1.00, the exchange rate in effect as of December 31, 2025, as published in the Federal Reserve Board's H.10 statistical release. Percentages stated in this release are calculated based on the RMB amounts.DisclaimerSafe Harbor StatementThis announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.Use of ProjectionsThis announcement also contains certain financial forecasts (or guidance) with respect to the Company's projected financial results. The Company's independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company's historical information.[1] Represents the total amount of loans that the Company facilitated and originated during the relevant period. X FinancialUnaudited Condensed Consolidated Balance Sheets





(In thousands, except for share and per share data)As of December 31, 2024
As of December 31, 2025
As of December 31, 2025
 RMB 
RMB
USD ASSETS 




 Cash and cash equivalents 984,611
987,631
141,229 Restricted cash, net 676,793
1,145,962
163,870 Accounts receivable and contract assets, net 2,029,550
3,145,976
449,869 Loans receivable from Credit Loans and other loans, net 4,828,317
5,298,631
757,694 Deposits to institutional cooperators, net 1,958,297
1,713,593
245,041 Prepaid expenses and other current assets 34,079
43,547
6,227 Financial guarantee derivative 1,038
-
- Deferred tax assets, net 197,713
455,358
65,115 Long term investments 498,038
515,524
73,719 Property and equipment, net 15,833
23,900
3,418 Intangible assets, net 36,592
39,183
5,603 Financial investments 513,476
1,243,076
177,758 Other non-current assets 44,951
53,364
7,631 TOTAL ASSETS 11,819,288
14,665,745
2,097,174





 LIABILITIES 




 Payable to investors and institutional funding partners at amortized cost 2,184,086
3,054,982
436,856 Contingent guarantee liabilities 187,641
748,307
107,006 Deferred guarantee income 164,725
467,629
66,870 Financial guarantee derivative -
15,426
2,206 Short-term borrowings 328,500
409,530
58,562 Accrued payroll and welfare 94,717
76,058
10,876 Other tax payable 279,993
221,940
31,739 Income tax payable 591,491
677,521
96,884 Accrued expenses and other current liabilities 941,506
1,053,071
150,587 Other non-current liabilities 27,516
34,807
4,977 Deferred tax liabilities 65,959
69,673
9,963 TOTAL LIABILITIES 4,866,134
6,828,944
976,526





 Commitments and Contingencies 




 Equity: 




 Common shares (250,678,439 and 234,517,901 shares outstanding
as of December 31, 2024 and 2025, respectively) 207
207
30 Treasury stock   (509,644)
(967,773)
(138,390) Additional paid-in capital 3,207,028
3,256,349
465,652 Retained earnings 4,174,511
5,484,294
784,244 Other comprehensive income 81,052
63,724
9,112 TOTAL EQUITY 6,953,154
7,836,801
1,120,648





 TOTAL LIABILITIES AND EQUITY 11,819,288
14,665,745
2,097,174  X Financial Unaudited Condensed Consolidated Statements of Comprehensive Income 








 Three Months Ended December 31, 
 Twelve Months Ended December 31, (In thousands, except for share and per share data)202420252025
202420252025
 RMB  RMB  USD 
 RMB  RMB  USD Net revenues






Loan facilitation service877,664440,66963,015
3,102,3453,843,005549,542Post-origination service266,018249,25135,642
759,5391,074,454153,645Financing income350,599393,98756,339
1,372,0041,396,976199,765Guarantee income69,649263,24537,644
201,716636,57291,030Other revenue144,792120,69117,259
436,178688,41898,442Total net revenue1,708,7221,467,843209,899
5,871,7827,639,4251,092,424







Operating costs and expenses:






Origination and servicing438,975505,37872,268
1,738,1392,020,546288,934Borrower acquisitions and marketing503,704212,16530,339
1,582,4722,202,375314,935General and administrative48,88646,1586,601
175,934199,55928,537Provision for accounts receivable and contract assets13,262139,60919,964
35,732242,71934,708Provision for loans receivable64,289132,62418,965
221,658340,20948,649Provision for contingent guarantee liabilities116,103398,05256,921
241,7381,001,273143,180Change in fair value of financial guarantee derivative(1,038)14,7042,103
(1,038)3,367481(Reversal of) provision for credit losses for deposits and other financial assets(671)(1,030)(147)
3,378(702)(100)Total operating costs and expenses1,183,5101,447,660207,014
3,998,0136,009,346859,324







Income from operations525,21220,1832,885
1,873,7691,630,079233,100Interest income (expenses), net4,3384,446636
(560)10,6591,524Foreign exchange (loss) gain (6,183)2,102301
(9,533)(8,539)(1,221)Income (loss) from financial investments13,396(513)(73)
17,134(14,456)(2,067)Other income, net4,0845,029719
13,521132,25018,911







Income before income taxes540,84731,2474,468
1,894,3311,749,993250,247







Income tax (expense) benefit(150,778)15,8492,266
(405,702)(291,650)(41,705)Gain from equity in affiliates, net of tax4,5874,740678
10,15925,7163,677(Loss) gain from financial investments at equity method, net of tax(9,030)5,331762
41,118(19,506)(2,789)Net income385,62657,1678,174
1,539,9061,464,553209,430Less: net income attributable to non-controlling interests---
---Net income attributable to X Financial shareholders385,62657,1678,174
1,539,9061,464,553209,430







Net income 385,62657,1678,174
1,539,9061,464,553209,430Other comprehensive income, net of tax of nil:






Gain (loss) from equity in affiliates105(30)(4)
(314)14821(Loss) income from financial investments(5,807)3,966567
2933,198457Foreign currency translation adjustments19,186(9,336)(1,335)
11,596(20,674)(2,956)Comprehensive income399,11051,7677,402
1,551,4811,447,225206,952Less: comprehensive income attributable to non-controlling interests---
---Comprehensive income attributable to X Financial shareholders399,11051,7677,402
1,551,4811,447,225206,952







Net income per share—basic1.370.240.03
5.336.000.86Net income per share—diluted 1.340.240.03
5.255.870.84







Net income per ADS—basic8.221.440.21
31.9836.005.15Net income per ADS—diluted 8.041.440.21
31.5035.225.04







Weighted average number of ordinary shares outstanding—basic281,823,659233,525,027233,525,027
288,828,371243,975,946243,975,946Weighted average number of ordinary shares outstanding—diluted288,542,180238,285,537238,285,537
293,354,671249,489,203249,489,203  X FinancialUnaudited Reconciliations of GAAP and Non-GAAP Results








Three Months Ended December 31,
Twelve Months Ended December 31,(In thousands, except for share and per share data)202420252025
202420252025
RMBRMBUSD
RMBRMBUSDGAAP net income385,62657,1678,174
1,539,9061,464,553209,430Less: Income (loss) from financial investments (net of tax of nil)13,396(513)(73)
17,134(14,456)(2,067)Less: Impairment losses on financial investments (net of tax of nil)---
---Less: Impairment losses on long-term investments (net of tax)(16,680)--
(16,680)--Less: (Loss) gain from financial investments at equity method (net of tax of nil)(9,030)5,331762
41,118(19,506)(2,789)Add: Share-based compensation expenses (net of tax of nil)10,0828,9711,283
40,17860,9678,718Non-GAAP adjusted net income408,02261,3208,768
1,538,5121,559,482223,004







Non-GAAP adjusted net income per share—basic1.450.260.04
5.336.390.91Non-GAAP adjusted net income per share—diluted 1.410.260.04
5.246.250.89







Non-GAAP adjusted net income per ADS—basic8.701.560.22
31.9838.345.48Non-GAAP adjusted net income per ADS—diluted 8.461.560.22
31.4437.505.36







Weighted average number of ordinary shares outstanding—basic281,823,659233,525,027233,525,027
288,828,371243,975,946243,975,946Weighted average number of ordinary shares outstanding—diluted288,542,180238,285,537238,285,537
293,354,671249,489,203249,489,203 



View original content:https://www.prnewswire.com/news-releases/x-financial-reports-fourth-quarter-and-fiscal-year-2025-unaudited-financial-results-302724231.htmlSOURCE X Financial

Original: X Financial Reports Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results

X Financial to Report Fourth Quarter and Fiscal Year 2025 Financial Results on March 26, 2026March 19, 2026 6:00 AM
PR Newswire (US)

SHENZHEN, China, March 19, 2026 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company"), a leading online personal finance company in China, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, before the open of U.S. markets on Thursday, March 26, 2026.X Financial's management team will host an earnings conference call at 8:30 AM U.S. Eastern Time on Thursday, March 26, 2026 (8:30 PM Beijing / Hong Kong Time on the same day).Dial-in details for the earnings conference call are as follows:United States:1-888-346-8982Hong Kong:800-905945Mainland China:4001-201203International:1-412-902-4272Passcode:X FinancialPlease dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.A replay of the conference call may be accessed by phone at the following numbers until April 2, 2026:United States:1-855-669-9658International:1-412-317-0088Passcode:7562117Additionally, a live and archived webcast of the conference call will be available at https://ir.xiaoyinggroup.com.About X FinancialX Financial is a leading online personal finance company in China. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate loans to prime borrowers under a robust risk assessment and control system.For more information, please visit: https://ir.xiaoyinggroup.com.For more information, please contact:X Financial
Mr. Frank Fuya Zheng
Mr. Noah Kauffman
E-mail: ir@xiaoying.com 



View original content:https://www.prnewswire.com/news-releases/x-financial-to-report-fourth-quarter-and-fiscal-year-2025-financial-results-on-march-26-2026-302718545.htmlSOURCE X Financial

Original: X Financial to Report Fourth Quarter and Fiscal Year 2025 Financial Results on March 26, 2026

X Financial Reports First Quarter 2023 Unaudited Financial Results
https://ih.advfn.com/stock-market/NYSE/x-financial-XYF/stock-news/91154162/x-financial-reports-first-quarter-2023-unaudited-f

Well looks like the lights,air-conditioner,TV,radio,oven,microwave,shower,sprinkler system are all on and nobody's home ..?.....come on Man

It can move upward purely on its own merits; on its own undervalued fundamentals, IMO. It does not need any reddit board hype or option traders banning together to buy calls on it. There is NO major short position on this stock at the present time to create a short squeeze. This one does NOT need such foolish and short lived tactics.

Let's see what this under the radar wonder does next week. Would not take much volume to really move price...All these reddit conspired moves these days on crazy volume with targeted short squeezes...This one has none of that.

* * $XYF Video Chart 10-20-2020 * *

Link to Video - click here to watch the technical chart video

$xyf amazing ER.

X Financial (XYF) Tops Q3 EPS by 10c

https://www.streetinsider.com/dr/news.php?id=14847400