<p>小贏科技（X Financial (XYF)）已召開其第三季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<p>小贏科技最近的財報電話會議為投資者描繪了一個複雜的局面，突出了成就與挑戰。公司報告了穩健的同比收入增長和強勁的資產負債表，但也面臨着顯著的挑戰，如環比收入下降、逾期率上升和淨收入減少。面對監管壓力，小贏科技採取了謹慎的策略，重點關注資產質量和風險管理。</p>
<h2>同比收入增長</h2>
<p>小贏科技報告的總淨收入為人民幣 19.6 億元，同比增長 23.9%。這一增長凸顯了公司在充滿挑戰的運營環境中保持穩健盈利能力的能力。</p>
<h2>貸款發放增長</h2>
<p>公司促成併發放了人民幣 336.4 億元的貸款，同比增長 18.7%。貸款發放的韌性展示了小贏科技有效應對監管挑戰的能力。</p>
<h2>強勁的資產負債表</h2>
<p>小贏科技的總資產達到人民幣 146.9 億元，同比增長 26.4%，而總股東權益上升 15% 至人民幣 79.3 億元。公司還報告了 21.5% 的股本回報率，突顯其財務實力。</p>
<h2>收入環比下降</h2>
<p>儘管同比增長，小贏科技的總淨收入較第二季度環比下降 13.7%。這一下降反映了公司在監管壓力下戰略性地決定放緩增長步伐。</p>
<h2>逾期率上升</h2>
<p>財報電話會議透露，逾期率上升，31 至 60 天的逾期率上升至 1.85%，而 91 至 180 天的逾期率攀升至 3.52%。這些數據表明某些借款人羣體的還款壓力上升。</p>
<h2>淨收入減少</h2>
<p>小贏科技的淨收入環比減少 20.2%，降至人民幣 4.212 億元。這一下降主要是由於信用損失準備金和擔保負債的增加。</p>
<h2>貸款發放指引下調</h2>
<p>展望未來，小贏科技預計在 2025 年第四季度促成和發放貸款的範圍為人民幣 210 億元至 230 億元。該指引反映了在第三季度觀察到的環比下降後，採取更為謹慎的增長步伐，繼續強調資產質量和風險管理。</p>
<p>總之，小贏科技的財報電話會議提供了其當前財務狀況的細緻視角。儘管公司展示了穩健的同比增長並保持了強勁的資產負債表，但也面臨着逾期率上升和淨收入減少等挑戰。公司謹慎的策略，專注於資產質量和風險管理，將在其應對監管環境並實現未來目標的過程中至關重要。</p>

小贏科技

<p>小贏科技的第三季度財報電話會議揭示了一個複雜的財務狀況。公司報告了 23.9% 的同比收入增長和強勁的資產負債表，總資產增長了 26.4%。然而，它面臨着 13.7% 的環比收入下降、逾期率上升以及 20.2% 的淨收入下降。小贏科技計劃在監管壓力下專注於資產質量和風險管理，並對 2025 年第四季度的貸款發放指導持謹慎態度</p>

<p>X Financial ((XYF)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>小贏科技（X Financial (XYF)）已召開其第三季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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</div><p>X Financial’s recent earnings call painted a mixed picture for investors, highlighting both achievements and challenges. The company reported solid year-over-year revenue growth and a robust balance sheet, but also faced significant hurdles such as a sequential revenue decline, increased delinquency rates, and reduced net income. In response to regulatory pressures, X Financial is adopting a cautious approach with a strong focus on asset quality and risk management.</p>
<div class="lb-trans"><p>小贏科技最近的財報電話會議為投資者描繪了一個複雜的局面，突出了成就與挑戰。公司報告了穩健的同比收入增長和強勁的資產負債表，但也面臨着顯著的挑戰，如環比收入下降、逾期率上升和淨收入減少。面對監管壓力，小贏科技採取了謹慎的策略，重點關注資產質量和風險管理。</p>
</div><h2>Year-over-Year Revenue Growth</h2>
<div class="lb-trans"><h2>同比收入增長</h2>
</div><p>X Financial reported a total net revenue of RMB 1.96 billion, marking a 23.9% increase year-over-year. This growth underscores the company’s ability to maintain solid profitability despite a challenging operating environment.</p>
<div class="lb-trans"><p>小贏科技報告的總淨收入為人民幣 19.6 億元，同比增長 23.9%。這一增長凸顯了公司在充滿挑戰的運營環境中保持穩健盈利能力的能力。</p>
</div><h2>Loan Origination Growth</h2>
<div class="lb-trans"><h2>貸款發放增長</h2>
</div><p>The company facilitated and originated RMB 33.64 billion in loans, reflecting an 18.7% increase year-over-year. This resilience in loan origination demonstrates X Financial’s capacity to navigate regulatory challenges effectively.</p>
<div class="lb-trans"><p>公司促成併發放了人民幣 336.4 億元的貸款，同比增長 18.7%。貸款發放的韌性展示了小贏科技有效應對監管挑戰的能力。</p>
</div><h2>Strong Balance Sheet</h2>
<div class="lb-trans"><h2>強勁的資產負債表</h2>
</div><p>X Financial’s total assets reached RMB 14.69 billion, up 26.4% year-over-year, while total shareholders’ equity rose by 15% to RMB 7.93 billion. The company also reported a return on equity of 21.5%, highlighting its financial strength.</p>
<div class="lb-trans"><p>小贏科技的總資產達到人民幣 146.9 億元，同比增長 26.4%，而總股東權益上升 15% 至人民幣 79.3 億元。公司還報告了 21.5% 的股本回報率，突顯其財務實力。</p>
</div><h2>Sequential Decline in Revenue</h2>
<div class="lb-trans"><h2>收入環比下降</h2>
</div><p>Despite the year-over-year growth, X Financial experienced a 13.7% sequential decline in total net revenue from Q2. This decline reflects the company’s strategic decision to moderate its growth pace amid regulatory pressures.</p>
<div class="lb-trans"><p>儘管同比增長，小贏科技的總淨收入較第二季度環比下降 13.7%。這一下降反映了公司在監管壓力下戰略性地決定放緩增長步伐。</p>
</div><h2>Increase in Delinquency Rates</h2>
<div class="lb-trans"><h2>逾期率上升</h2>
</div><p>The earnings call revealed a rise in delinquency rates, with the 31- to 60-day rate increasing to 1.85% and the 91- to 180-day rate climbing to 3.52%. These figures indicate rising repayment stress among certain borrower segments.</p>
<div class="lb-trans"><p>財報電話會議透露，逾期率上升，31 至 60 天的逾期率上升至 1.85%，而 91 至 180 天的逾期率攀升至 3.52%。這些數據表明某些借款人羣體的還款壓力上升。</p>
</div><h2>Reduced Net Income</h2>
<div class="lb-trans"><h2>淨收入減少</h2>
</div><p>X Financial’s net income decreased by 20.2% sequentially to RMB 421.2 million. This reduction was primarily due to higher provisions for credit losses and a guarantee liability.</p>
<div class="lb-trans"><p>小贏科技的淨收入環比減少 20.2%，降至人民幣 4.212 億元。這一下降主要是由於信用損失準備金和擔保負債的增加。</p>
</div><h2>Guidance for Lower Loan Origination</h2>
<div class="lb-trans"><h2>貸款發放指引下調</h2>
</div><p>Looking forward, X Financial expects to facilitate and originate loans in the range of RMB 21 billion to RMB 23 billion in Q4 2025. This guidance reflects a more measured pace following the sequential decline observed in Q3, with a continued emphasis on asset quality and risk management.</p>
<div class="lb-trans"><p>展望未來，小贏科技預計在 2025 年第四季度促成和發放貸款的範圍為人民幣 210 億元至 230 億元。該指引反映了在第三季度觀察到的環比下降後，採取更為謹慎的增長步伐，繼續強調資產質量和風險管理。</p>
</div><p>In summary, X Financial’s earnings call provided a nuanced view of its current financial standing. While the company demonstrated solid year-over-year growth and maintained a strong balance sheet, it also faced challenges such as increased delinquency rates and reduced net income. The company’s cautious approach, focusing on asset quality and risk management, will be crucial as it navigates the regulatory landscape and aims to achieve its future targets.</p>
<div class="lb-trans"><p>總之，小贏科技的財報電話會議提供了其當前財務狀況的細緻視角。儘管公司展示了穩健的同比增長並保持了強勁的資產負債表，但也面臨着逾期率上升和淨收入減少等挑戰。公司謹慎的策略，專注於資產質量和風險管理，將在其應對監管環境並實現未來目標的過程中至關重要。</p>
</div>

小贏科技的財報電話會議：在挑戰中實現增長