FinVolution Group American Depositary Shares (FINV)
7.6400
-0.2200 (-2.80%)
Finvolution Group is a financial technology company that provides online consumer finance services in China
It connects borrowers with individual and institutional investors through its innovative lending platform, facilitating access to credit for a diverse range of customers. The company utilizes advanced data analytics and technology to streamline the loan application process, assess credit risk, and enhance the overall user experience. By leveraging its extensive network and digital capabilities, Finvolution aims to improve financial inclusion for underserved populations while delivering value to its investors.
Key Takeaways: Small revolving loans, which Yiren only started offering in 2020, were a big driver of its 13% revenue growth in the second quarter The focus on such products is part of the fintech’s efforts to balance risk management and profitability enhancement in China’s difficult economic environment
U.S. stock futures were higher this morning, with the Nasdaq futures gaining by around 70 points on Tuesday. Shares of Dada Nexus Limited (NASDAQDADA) shares fell sharply in today's pre-market trading after the company reported downbeat fourth-quarter results.
Key Takeaways: Lufax announced a massive special dividend of $2.42 per ADS, equal to about half of its Friday closing price of $4.48 The company slashed the size of its loan portfolio by 45% last year, and expects to reduce it by another 32% this year as it focuses on higher quality borrowers By Doug Young
Key Takeaways: Qifu’s revenue grew 13% year-on-year in the fourth quarter, and its net profit rose by more than 20% The company announced plans to repurchase up to $350 million worth of its shares, far more than the $132 million in repurchased from last June to March this year By Warren Yang
Key Takeaways: Yixin will sell its 49% stake in a 2-year-old joint venture to partner Qingdao Caitong, which wants to expand into areas beyond the venture’s original auto leasing services Yixin’s auto financing business is growing despite an unsteady Chinese car market, fueled by booming demand for electric vehicles
Shares of American Eagle Outfitters, Inc. (NYSEAEO) declined during Tuesday’s session after the company reported third-quarter financial results. Net revenue rose 5% Y/Y to $1.30 billion, beating the consensus of $1.28 billion. EPS of $0.49 surpassed the consensus of $0.48.
Companies Reporting Before The Bell • Greenland Technologies (NASDAQGTEC) is projected to report quarterly earnings at $0.05 per share on revenue of $24.26 million.
Gainers ThermoGenesis Holdings, Inc. (NASDAQTHMO) shares jumped 80% to $3.7820 after the company announced the roll out of ReadyStart cGMP Suites for early-stage cell and gene-therapy companies.
Key Takeways: Qudian was notified by the New York Stock Exchange that it was in violation of listing rules that require its stock price to stay above $1 The warning was its third one this year, and came after the company said it was scaling down a food business it started just six months ago and ceased its main lending business
Key Takeaways: Sinolink will buy about 156 million new shares in ZhongAn’s overseas business development unit, ZhongAn International, for about $103 million The deal comes in a difficult year for ZhongAn, whose own cash holdings are dwindling By Warren Yang
