FinVolution (FINV) 20-F 30 Apr 20 2019 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2019shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	FinVolution Group
Entity Central Index Key	0001691445
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Transition Report	false
Document Annual Report	true
Document Shell Company Report	false
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity File Number	001-38269
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Building G1, No. 999 Dangui Road
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200120
Entity Address, Country	CN
Document Registration Statement	false
Document Accounting Standard	U.S. GAAP
Class A Ordinary Shares [Member]
Document Information [Line Items]
No Trading Symbol Flag	true
Entity Common Stock, Shares Outstanding	943,436,904
Title of 12(b) Security	Class A ordinary shares, par value US$0.00001 per share
Security Exchange Name	NYSE
Class B Ordinary Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	586,000,000
American Depositary Share [Member]
Document Information [Line Items]
Trading Symbol	FINV
Title of 12(b) Security	American depositary shares
Security Exchange Name	NYSE
Class A and Class B Ordinary Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	1,529,436,904
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	Building G1, No. 999 Dangui Road
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200120
Entity Address, Country	CN
City Area Code	86
Local Phone Number	8030 3200
Contact Personnel Name	Simon Tak Leung Ho, Chief Financial Officer
Contact Personnel Email Address	simon@xinye.com

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Assets
Cash and cash equivalents	¥ 2,324,542	$ 333,900	¥ 1,616,164
Restricted cash (including restricted cash of the consolidated trusts of RMB303,667 and RMB799,646 as of December 31, 2018 and 2019, respectively)	3,686,203	529,490	3,677,557
Short-term investments	114,560	16,456	1,694,660
Accounts receivable, net of provision for doubtful accounts of RMB50,544 (adjusted, Note 2(ah)) and RMB145,699 as of December 31, 2018 and 2019, respectively)	882,305	126,735	812,042
Quality assurance receivable	3,649,642	524,238	2,064,366
Property, equipment and software, net	134,324	19,294	144,002
Right of use assets	95,786	13,759
Intangible assets	64,280	9,233	68,880
Goodwill	50,411	7,241	50,411
Loans receivable, net of provision for loan losses of RMB74,381 (adjusted, Note 2(ah)) and RMB316,124 as of December 31, 2018 and 2019, respectively (including loans receivable, net of provision for loan losses of the consolidated trusts of RMB2,290,082 and RMB4,618,856 as of December 31, 2018 and 2019, respectively)	4,808,252	690,662	2,331,108
Financial guarantee derivative assets			56,287
Investments	952,833	136,866	167,501
Deferred tax assets	129,740	18,636	122,763
Amounts due from related party			2,830
Contract assets	20,555	2,952	112,103
Prepaid expenses and other assets	1,391,023	199,806	221,793
Total assets	18,304,456	2,629,268	13,142,467
Liabilities and Shareholders' Equity:
Payable to platform customers (including payable to platform customers of the consolidated variable interest entity ("VIE") and VIE's subsidiaries without recourse to the Company of RMB905,034 and RMB684,630 as of December 31, 2018 and 2019, respectively)	684,630	98,341	905,034
Quality assurance payable (including quality assurance payable of the consolidated VIE and VIE's subsidiaries without recourse to the Company of RMB3,819,379 and RMB4,776,153 as of December 31, 2018 and 2019, respectively)	4,776,153	686,051	3,819,379
Payroll and welfare payable (including payroll and welfare payable of the consolidated VIE and VIE's subsidiaries without recourse to the Company of RMB129,809 and RMB115,540 as of December 31, 2018 and 2019, respectively)	176,685	25,379	188,254
Taxes payable (including taxes payable of the consolidated VIE and VIE's subsidiaries without recourse to the Company of RMB208,585 and RMB32,468 as of December 31, 2018 and 2019, respectively)	128,298	18,429	225,101
Short-term borrowings (including short-term borrowings of the consolidated VIE and VIE's subsidiaries without recourse to the Company of Nil and RMB85,000 as of December 31, 2018 and 2019, respectively)	235,000	33,756	25,000
Funds payable to investors of consolidated trusts (including funds payable to investors of consolidated trusts of RMB1,505,909 and RMB3,660,483 as of December 31, 2018 and 2019 respectively)	3,660,483	525,796	1,505,909
Contract liabilities (including contract liabilities of the consolidated VIE and VIE's subsidiaries without recourse to the Company of RMB158,061 and RMB50,166 as of December 31, 2018 and 2019, respectively)	55,728	8,005	165,469
Amounts due to related party (including amounts due to related party of the consolidated VIE and VIE's subsidiaries without recourse to the Company of Nil and RMB4,309 as of December 31, 2018 and 2019, respectively)	4,309	619
Leasing liabilities (including leasing liabilities of the consolidated VIE and VIE's subsidiaries without recourse to the Company of Nil and RMB84,284 as of December 31, 2018 and 2019, respectively)	85,143	12,230
Deferred tax liabilities (including deferred tax liabilities of the consolidated VIE and VIE's subsidiaries without recourse to the Company of RMB78,268 and RMB47,117 as of December 31, 2018 and 2019, respectively)	198,922	28,573	100,064
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIE and VIE's subsidiaries without recourse to the Company of RMB190,406 and RMB237,802 as of December 31, 2018 and 2019, respectively)	287,625	41,315	222,519
Total liabilities	10,292,976	1,478,494	7,156,729
Commitments and contingencies
FinVolution Group Shareholders' equity :
Additional paid-in capital	5,640,898	810,265	5,896,017
Treasury stock (46,301,000 and 20,634,265 shares as of December 31, 2018 and 2019, respectively)	(47,174)	(6,777)	(332,121)
Statutory reserves	317,198	45,563	256,006
Accumulated other comprehensive income	70,320	10,097	58,210
Retained earnings	1,966,611	282,486	45,668
Total FinVolution Group shareholders' equity	7,947,956	1,141,649	5,923,882
Non-controlling Interest	63,524	9,125	61,856
Total shareholders' equity	8,011,480	1,150,774	5,985,738
Total liabilities and shareholders' equity	18,304,456	2,629,268	13,142,467
Class A Ordinary Shares [Member]
FinVolution Group Shareholders' equity :
Ordinary shares	64	9	58
Class B Ordinary Shares [Member]
FinVolution Group Shareholders' equity :
Ordinary shares	¥ 39	$ 6	¥ 44

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)shares	Dec. 31, 2018CNY (¥)shares
Restricted cash	¥ 3,686,203	¥ 3,677,557
Provision for doubtful accounts	145,699	50,544
Provision for loan losses	316,124	74,381
Loans receivable, net of provision for loan losses	4,808,252	2,331,108
Payable to platform customers	684,630	905,034
Quality assurance fund payable	4,776,153	3,819,379
Payroll and welfare payable	176,685	188,254
Taxes payable	128,298	225,101
Short-term borrowings	235,000	25,000
Funds payable to investors of consolidated trusts	3,660,483	1,505,909
Contract liabilities	55,728	165,469
Amounts due to related parties	4,309
Deferred tax liabilities	198,922	100,064
Accrued expenses and other liabilities	287,625	¥ 222,519
Leasing liabilities	¥ 85,143
Ordinary stock, shares issued | shares	1,550,071,169
Treasury stock, common shares | shares	20,634,265	46,301,000
Consolidated VIEs' principal subsidiaries [Member]
Payable to platform customers	¥ 684,630	¥ 905,034
Quality assurance fund payable	4,776,153	3,819,379
Payroll and welfare payable	115,540	129,809
Taxes payable	32,468	208,585
Short-term borrowings	85,000	0
Funds payable to investors of consolidated trusts	3,660,483	1,505,909
Contract liabilities	50,166	158,061
Amounts due to related parties	4,309	0
Deferred tax liabilities	84,284	0
Accrued expenses and other liabilities	47,117	78,268
Leasing liabilities	237,802	190,406
VIE's subsidiaries [Member]
Payable to platform customers	684,630	905,034
Quality assurance fund payable	4,776,153	3,819,379
Payroll and welfare payable	115,540	129,809
Taxes payable	32,468	208,585
Short-term borrowings	85,000	0
Funds payable to investors of consolidated trusts	3,660,483	1,505,909
Contract liabilities	50,166	158,061
Amounts due to related parties	4,309	0
Deferred tax liabilities	84,284	0
Accrued expenses and other liabilities	47,117	78,268
Leasing liabilities	¥ 237,802	¥ 190,406
Class A Ordinary Shares [Member]
Ordinary stock, authorized | shares	10,000,000,000	10,000,000,000
Ordinary stock, shares issued | shares	964,071,169	874,071,169
Ordinary Stock, shares outstanding | shares	943,436,904	827,770,169
Class B Ordinary Shares [Member]
Ordinary stock, authorized | shares	10,000,000,000	10,000,000,000
Ordinary stock, shares issued | shares	586,000,000	659,000,000
Ordinary Stock, shares outstanding | shares	586,000,000	659,000,000
Consolidated Trust [Member]
Restricted cash	¥ 799,646	¥ 303,667
Loans receivable, net of provision for loan losses	¥ 4,618,856	¥ 2,290,082

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)¥ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)¥ / sharesshares	Dec. 31, 2017CNY (¥)¥ / sharesshares
Operating revenue:
Operating revenues			¥ 4,218,946
Net interest income	¥ 1,106,669	$ 158,963	256,108	¥ 31,377
Net revenues	5,962,757	856,496	4,543,673	3,927,223
Operating expenses:
Origination and servicing expenses	(1,164,716)	(167,301)	(875,905)	(890,160)
Origination and servicing expenses-related party	(43,494)	(6,248)	(109,666)	(84,362)
Sales and marketing expenses	(720,333)	(103,469)	(710,754)	(788,291)
General and administrative expenses	(435,816)	(62,601)	(383,388)	(423,795)
Research and development expenses	(390,585)	(56,104)	(317,965)	(164,869)
Provision for loans receivable	(299,504)	(43,021)	(192,749)	(46,586)
Provision for accounts receivable	(261,882)	(37,617)	(106,652)
Total operating expenses	(3,316,330)	(476,361)	(2,697,079)	(2,398,063)
Other income (expenses)
Gain from quality assurance	98,405	14,135	510,894	5,885
Realized gain (loss) from financial guarantee derivatives	31,444	4,517	(157,244)	169,103
Fair value change of financial guarantee derivatives	(56,287)	(8,085)	272,057	(383,061)
Other income, net	136,491	19,606	148,356	36,531
Profit before income tax expenses	2,856,480	410,308	2,620,657	1,357,618
Income tax expenses	(481,962)	(69,230)	(151,206)	(274,711)
Net profit	2,374,518	341,078	2,469,451	1,082,907
Less: Net profit (loss) attributable to non-controlling interest shareholders	1,668	240	377	(76)
Net profit	2,372,850	340,838	2,469,074	1,082,983
Accretion on convertible redeemable preferred shares to redemption value				(3,073,471)
Net profit (loss) attributable to FinVolution Group's ordinary shareholders	2,372,850	340,838	2,469,074	(1,990,488)
Net profit	2,374,518	341,078	2,469,451	1,082,907
Foreign currency translation adjustment, net of nil tax	12,110	1,739	43,293	99,934
Total comprehensive income	2,386,628	342,817	2,512,744	1,182,841
Total comprehensive income (loss) attributable to non-controlling interests shareholders	1,668	240	377	(76)
Total comprehensive income attributable to FinVolution Group	¥ 2,384,960	$ 342,577	¥ 2,512,367	¥ 1,182,917
Weighted average number of ordinary shares used in computing net income (loss) per share
Basic | shares	1,525,814,189	1,525,814,189	1,498,780,165	779,804,270
Diluted | shares	1,552,423,060	1,552,423,060	1,599,592,231	779,804,270
Net income (loss) per share - Basic | (per share)	¥ 1.5551	$ 0.2234	¥ 1.6474	¥ (2.5525)
Net income (loss) per share - Diluted | (per share)	¥ 1.5285	$ 0.2196	¥ 1.5436	¥ (2.5525)
Loan facilitation service fees [Member]
Operating revenue:
Operating revenues	¥ 3,310,875	$ 475,577	¥ 2,919,234	¥ 2,843,287
Post-facilitation service fees [Member]
Operating revenue:
Operating revenues	1,200,373	172,423	922,797	668,819
Other Revenue [Member]
Operating revenue:
Operating revenues	¥ 344,840	$ 49,533	376,915	491,400
Changes in expected discretionary payment to IRF investors [Member]
Operating revenue:
Operating revenues			¥ 68,619	(107,660)
Series A Convertible Redeemable Preferred Shares [Member]
Other income (expenses)
Accretion on convertible redeemable preferred shares to redemption value				(1,237,274)
Series B Convertible Redeemable Preferred Shares [Member]
Other income (expenses)
Accretion on convertible redeemable preferred shares to redemption value				(905,861)
Series C Convertible Redeemable Preferred Shares [Member]
Other income (expenses)
Accretion on convertible redeemable preferred shares to redemption value				¥ (930,336)
American Depositary Shares [Member]
Weighted average number of ordinary shares used in computing net income (loss) per share
Net income (loss) per share - Basic | (per share)	¥ 7.7757	$ 1.1169	¥ 8.2369	¥ (12.7627)
Net income (loss) per share - Diluted | (per share)	¥ 7.6424	$ 1.0978	¥ 7.7178	¥ (12.7627)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)	Series A Preferred Stock [Member]CNY (¥)	Series B Preferred Stock [Member]CNY (¥)	Series C Preferred Stock [Member]CNY (¥)	Common Stock [Member]CNY (¥)shares	Common Stock [Member]Series A Preferred Stock [Member]CNY (¥)shares	Common Stock [Member]Series B Preferred Stock [Member]CNY (¥)shares	Common Stock [Member]Series C Preferred Stock [Member]CNY (¥)shares	Additional Paid-in Capital [Member]CNY (¥)	Additional Paid-in Capital [Member]Series A Preferred Stock [Member]CNY (¥)	Additional Paid-in Capital [Member]Series B Preferred Stock [Member]CNY (¥)	Additional Paid-in Capital [Member]Series C Preferred Stock [Member]CNY (¥)	Treasury Stock [Member]CNY (¥)shares	Accumulated Other Comprehensive Income [Member]CNY (¥)	Statutory Reserves [Member]CNY (¥)	Retained Earnings (accumulated Deficit) [Member]CNY (¥)	Non-controlling Interest [Member]CNY (¥)
Balance at Dec. 31, 2016	¥ (438,423)														¥ (85,017)	¥ 15,662	¥ (369,068)
Balance, Shares at Dec. 31, 2016 | shares						665,000,000
Issuance of ordinary shares upon Initial Public Offering ("IPO") and Concurrent Private Placement ("CPP"), net of expense	1,677,222					¥ 51				¥ 1,677,171
Issuance of ordinary shares upon Initial Public Offering ("IPO") and Concurrent Private Placement ("CPP"), net of expense, shares | shares						104,230,769
Accretions to preferred shares redemption value	(3,073,471)																(3,073,471)
Conversion of preferred shares to ordinary shares			¥ 1,563,908	¥ 1,212,295	¥ 1,391,567		¥ 19	¥ 14	¥ 16		¥ 1,563,889	¥ 1,212,281	¥ 1,391,551
Conversion of preferred shares to ordinary shares, Shares | shares							285,000,000	214,285,700	234,554,700
Share-based compensation	65,324									65,324
Cancellation of Share-based compensation plan of a subsidiary	40,828									40,828
Net profit	1,082,907																1,082,983	¥ (76)
Foreign currency translation adjustment	99,934														99,934
Business Combination	60,097																	60,097
Appropriation to statutory reserve																39,428	(39,428)
Balance at Dec. 31, 2017	3,682,188					¥ 100				5,951,044					14,917	55,090	(2,398,984)	60,021
Balance, Shares at Dec. 31, 2017 | shares						1,503,071,169
Issuance of ordinary shares for share-based compensation plans						¥ 2								¥ (2)
Issuance of ordinary shares for share-based compensation plans, shares | shares						30,000,000								(30,000,000)
Repurchase of ordinary shares	(452,262)													¥ (452,262)
Repurchase of ordinary shares, shares | shares														(60,306,360)
Cumulative effect of accounting change	176,494																176,494
Share-based compensation	50,319									50,319
Exercise of share-based compensation plans	14,797									(105,346)				¥ 120,143
Exercise of share-based compensation plans, shares | shares														44,005,360
Net profit	2,469,451																2,469,074	377
Foreign currency translation adjustment	43,293														43,293
Capital injection from non-controlling interest	1,458																	1,458
Appropriation to statutory reserve																200,916	(200,916)
Balance at Dec. 31, 2018	5,985,738					¥ 102				5,896,017				¥ (332,121)	58,210	256,006	45,668	61,856
Balance, Shares at Dec. 31, 2018 | shares						1,533,071,169								(46,301,000)
Issuance of ordinary shares for share-based compensation plans						¥ 1								¥ (1)
Issuance of ordinary shares for share-based compensation plans, shares | shares						17,000,000								(17,000,000)
Repurchase of ordinary shares	(47,173)													¥ (47,173)
Repurchase of ordinary shares, shares | shares														(12,729,500)
Share-based compensation	42,260									42,260
Exercise of share-based compensation plans	34,742									(297,379)				¥ 332,121
Exercise of share-based compensation plans, shares | shares														55,396,235
Net profit	2,374,518	$ 341,078															2,372,850	1,668
Dividends paid to shareholders	(390,715)																(390,715)
Foreign currency translation adjustment	12,110	1,739													12,110
Appropriation to statutory reserve																61,192	(61,192)
Balance at Dec. 31, 2019	¥ 8,011,480	$ 1,150,774				¥ 103				¥ 5,640,898				¥ (47,174)	¥ 70,320	¥ 317,198	¥ 1,966,611	¥ 63,524
Balance, Shares at Dec. 31, 2019 | shares						1,550,071,169								(20,634,265)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Cash flows from operating activities:
Net profit	¥ 2,374,518	$ 341,078	¥ 2,469,451	¥ 1,082,907
Adjustments to reconcile net profit to net cash provided by (used in) operating activities:
Provision for loans receivable	299,504	43,021	192,749	46,586
Provision for accounts receivable	261,882	37,617	106,652
Depreciation and amortization	57,712	8,290	42,162	22,555
Amortization of right-of-use asset and interest of leasing liabilities	49,373	7,092
Change in fair value of short term investments	13,028	1,871	(16,460)	(3,875)
Gain from disposal of investments	(10,614)	(1,525)
Change in fair value of investments			77
Net gain from investment in loans	(1,106,669)	(158,963)	(256,108)	(31,377)
Share-based compensation	42,260	6,070	50,319	106,152
Impairment of intangible assets	4,600	661
Changes in operating assets and liabilities:
Accounts receivable	(332,145)	(47,710)	(746,753)	(3,578)
Quality assurance receivable	(1,585,276)	(227,711)	(911,597)	(865,957)
Financial guarantee derivative assets and discretionary payment	56,287	8,085	(379,717)	490,721
Deferred tax assets	(6,977)	(1,002)	(27,705)	(112,583)
Amounts due from related party	2,830	407	(2,830)	(123)
Contract assets	91,548	13,150	(59,019)
Prepaid expenses and other assets	(1,090,910)	(156,699)	(115,017)	(70,703)
Deferred revenue				102,198
Payable to platform customers	(220,404)	(31,659)	(208,932)	692,307
Quality assurance payable	956,774	137,432	1,756,535	1,589,140
Payroll and welfare payable	(11,569)	(1,662)	31,423	72,297
Taxes payable	(96,803)	(13,905)	(32,042)	171,934
Contract liabilities	(109,741)	(15,763)	(97,080)
Amounts due to related party	4,309	619	(11,972)	(3,539)
Leasing liabilities	(51,370)	(7,379)
Deferred tax liabilities	98,858	14,200	84,124	15,940
Accrued expenses and other liabilities	93,473	13,427	16,696	108,449
Net cash provided by operating activities	(215,522)	(30,958)	1,884,956	3,409,451
Cash flows from investing activities:
Collection of loans originated and held by the Group	10,520,227	1,511,136	2,805,940	368,953
Investment in loans originated and held by the Group	(12,128,140)	(1,742,098)	(4,331,811)	(1,022,937)
Investment in convertible loan	(20,000)	(2,873)
Proceeds from disposal of investments	21,508	3,089
Purchase of investments	(803,691)	(115,443)	(155,286)	(9,953)
Proceeds from short-term investments	5,532,569	794,704	13,122,058	6,485,536
Purchase of short-term investments	(3,902,033)	(560,492)	(12,799,210)	(8,147,450)
Purchase of property, equipment and software	(48,659)	(6,989)	(83,584)	(90,871)
Proceeds from disposal of a subsidiary				6,000
Acquisition of intangible assets			(5,120)
Cash paid for business combinations, net of cash acquired				(40,078)
Net cash used in investing activities	(828,219)	(118,966)	(1,447,013)	(2,450,800)
Cash flows from financing activities:
Cash paid for repurchase of preferential beneficiaries of consolidated trusts	(7,948)	(1,143)	(47,173)	(31,250)
Cash received from short-term borrowings	235,000	33,757	87,010
Repayment of short-term borrowings	(25,000)	(3,591)	(63,685)
Cash paid for dividends	(390,715)	(56,123)
Repurchase of ordinary shares	(42,276)	(6,073)	(452,262)
Proceeds from exercise of share-based compensation plans	31,592	4,538	14,009
Capital injection from non-controlling interest			1,458
Proceeds from issuance of ordinary shares, net				1,677,222
Net cash provided by financing activities	1,749,512	251,301	530,097	2,132,933
Effect of exchange rate changes on cash, cash equivalents and restricted cash	11,253	1,618	41,977	(15,445)
Net increase in cash, cash equivalents and restricted cash	717,024	102,995	1,010,017	3,076,139
Cash, cash equivalents and restricted cash at beginning of year	5,293,721	760,395	4,283,704	1,207,565
Cash, cash equivalents and restricted cash at end of year	6,010,745	863,390	5,293,721	4,283,704
Supplemental disclosure of cash investing and financing activities
Cash paid for interest including paid to investors of consolidated trusts	(94,957)	(13,640)	(58,312)	(5,376)
Cash paid for income taxes	(145,825)	(20,946)	(180,233)	(216,060)
Supplemental disclosure of non-cash investing and financing activities
Accretion on convertible redeemable preferred shares to redemption value				3,073,471
Payable for purchase of property, equipment and software	292	42	917	6,585
Payable for repurchase of ordinary shares	4,897	703
Receivable from exercise of share-based incentive plans	3,150	452	788
Consolidated Trust [Member]
Cash flows from financing activities:
Cash received from investors	3,437,160	493,717	1,183,580	555,500
Cash paid to investors	¥ (1,488,301)	$ (213,781)	¥ (192,840)	¥ (68,539)

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Statement of Cash Flows [Abstract]
Cash and cash equivalents	¥ 2,324,542	$ 333,900	¥ 1,616,164
Restricted cash	3,686,203	529,490	3,677,557
Cash, cash equivalents and restricted cash	¥ 6,010,745	$ 863,390	¥ 5,293,721	$ 760,395	¥ 4,283,704	¥ 1,207,565

Principal activities and reorga

Principal activities and reorganization	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principal activities and reorganization	1. Principal activities and reorganization (a) Principal activities FinVolution Group (formerly known as PPDAI Group Inc., the “Company”) is an investment holding company and with its consolidated subsidiaries and variable interest entities (“VIEs”) (collectively referred to as the “Group”) operates an online consumer finance marketplace through its platform (www.ppdai.com) registered in the People’s Republic of China (the “PRC” or “China”). As of December 31, 2019, the Company’s principal subsidiaries and consolidated VIEs are as follows: Name Percentage direct or ownership Date of incorporation Place of Subsidiaries FinVolution (HK) LIMITED. (“FinVolution HK”) 100 % June 12, 2012 Hong Kong, China Beijing Prosper Investment Consulting Co., Ltd. (“Beijing Prosper”) 100 % August 21, 2012 Beijing, China Shanghai Guangjian Information Technology Co., Ltd. (“Shanghai Guangjian”) 100 % June 5, 2017 Shanghai, China Shanghai Shanghu Information Technology Co., Ltd. (“Shanghai Shanghu”) Shanghai Manyin Information Technology Co., Ltd. (“Shanghai Manyin”) 100 % February 12, 2018 Shanghai, China Consolidated VIEs Beijing Paipairongxin Investment Consulting Co., Ltd. (“Beijing Paipairongxin”) 100 %* June 15, 2012 Beijing, China Shanghai Zihe Information Technology Co., Ltd. (“Shanghai Zihe”) 100 %* July 6, 2017 Shanghai, China Shanghai Nianqiao Technology Co., Ltd. 100 %* August 8, 2018 Shanghai, China Shanghai Ledao Technology Co., Ltd. 100 %* January 10, 2019 Shanghai, China Consolidated VIEs’ principal subsidiaries Shanghai PPDai Financial Information Services Co.,Ltd. (“Shanghai PPDai”) 100 %* January 18, 2011 Shanghai, China Shanghai Erxu Information Technology Co., Ltd. (“Shanghai Erxu”) 100 %* April 28, 2018 Shanghai, China Fujian Zhiyun Financing Guarantee Co., Ltd.. (“Fujian Zhiyun”) 100 %* November 21, 2019 Fujian, China * Controlled via contractual relationships (b) Reorganization Prior to 2012, the operation of the online consumer finance marketplace was carried out by Shanghai PPDAI and Beijing Paipairongxin, both of which were owned by the original shareholders (the “Founders”) and an angel investor. To facilitate offshore financing, an offshore corporate structure was formed in 2012 (the “Reorganization”), which was carried out as follows: 1) Fin V Cayman Islands June 6, 2012 2) On June 12, 2012, FinVolution 3) On June 15, 2012, Beijing Prosper was incorporated in the PRC as a wholly owned subsidiary of FinVolution HK 4) On August 21, 2012, Beijing Paipairongxin was incorporated in the PRC by the founders of Shanghai PPDAI. 1. Principal activities and reorganization (continued) (b) Reorganization (continued) By entering into a series of commercial agreements in 2012 to 2014 (the “VIE Agreements”) that included the founders. Beijing Prosper, Beijing Paipairongxin and Shanghai PPai, (i) Shanghai PPDAI became a wholly owned subsidiary of Beijing Paipairongxin and (ii) Beijing Pairongxin became a VIE whose primary beneficiary is Beijing Prosper. Upon entering into the agreements, the shareholders of Beijing Paipairongxin became the “Nominee Shareholders” of Beijing Paipairongxin. The Company further carried out the following reorganization activities in 2017: 1) On June 5, 2017, Shanghai Guangjian was incorporated in the PRC as a wholly owned subsidiary of Finvolution 2) On June 15, 2017, Shanghai Shanghu was incorporated in PRC as a wholly owned subsidiary of Shanghai Guangjian. In June 2017, Shanghai Guangjian, Shanghai Shanghu, Beijing Prosper, Beijing Paipairongxin, Shanghai PPDAI and the shareholders of Beijing Paipairongxin entered into a new set of contractual arrangements, including an equity pledge agreement, a business operation agreement, a power of attorney, an option agreement and an exclusive technology consulting and service agreement, replacing the previous contractual agreements among Beijing Prosper, Beijing Paipairongxin, Shanghai PPDai and the shareholders of Beijing Paipairongxin. The term of the new set of agreements do not change from the previous ones. As a result, the Company continues to have control over Beijing Paipairongxin. In February 2018, the Group established Shanghai Manyin. In November 2018 and January 2019, Shanghai Manyin entered into a series of similar contractual agreements with Shanghai Nianqiao and Shanghai Ledao, which enable the Group to effective control Shanghai Niaoqiao and Shanghai Ledao. Shanghai Guangjian and Shanghai Manyin are collectively referred to as the WOFEs. Beijing Paipairongxin, Shanghai Zihe, Shanghai Nianqiao and Shanghai Ledao are collectively referred to as the VIEs. (c) Share split On October 20, 2017, the Company effected a share split. Each of ordinary share and preferred share of the Company was subdivided into 100 0.00001

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of significant accounting policies	2. Summary of significant accounting policies (a) Basis of presentation The Group’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and related disclosures. Actual results may differ from those estimates. (b) Principle of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries, which include the WOFEs and consolidated VIEs, for which the Company is the ultimate primary beneficiary. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. Consolidated VIEs are entities in which the WOFEs through their respective contractual arrangements, bear the risks of, and enjoy the rewards normally associated with, ownership of the entities, and therefore the Company is the primary beneficiary of these entities. All transactions and balances among the Company, its subsidiaries, the VIEs and the VIEs’ subsidiaries have been eliminated upon consolidation. Details of the typical structure of the Company’s significant VIEs are set forth below: i) VIE Agreements that give the Company effective control of VIEs Business Operation Agreement Pursuant to the relevant business operation agreements, the shareholders of the VIEs agree that to the extent permitted by law, they will accept and unconditionally execute the WOFEs’ instructions on business operations, such as appointment of directors and executive officers. They further agree that, without the WOFEs’ prior written consent, the VIEs will not take any action that may have material adverse effects on their assets, businesses, human resources, rights, obligations, or business operations. The shareholders of the VIEs agree to transfer any dividends or other similar income or interests they receive as the shareholders of the VIEs, if any, immediately and unconditionally to the WOFEs. This agreement also requires each of the shareholders of the VIEs to issue an irrevocable power of attorney authorizing the WOFEs or any person(s) designated by the WOFEs to execute shareholders’ rights on behalf of such shareholder. Unless the WOFEs terminate this agreement in advance, the agreement will remain effective until the VIEs are dissolved pursuant to PRC law. Power of Attorney Pursuant to each power of attorney, each shareholder of the VIEs have irrevocably appointed the WOFEs or any persons designated by the WOFEs to act as such shareholder’s attorney-in-fact Exclusive Option Agreement Pursuant to the exclusive option agreements, the Nominee Shareholders of the VIEs granted the WOFEs or any third party designated by the WOFEs the exclusive and irrevocable right to purchase from the Nominee Shareholders, to the extent permitted by PRC law and regulations, all or part of its respective equity interests in the VIEs for a purchase price equal to the registered capital. The Nominee Shareholders will then return the purchase price to the WOFEs or any third party designated by the WOFEs after the option is exercised. The WOFEs may transfer all or part of its option to a third party at its own option. The VIEs and the Nominee Shareholders agree that without prior written consent of the WOFEs, they may not transfer or otherwise dispose the equity interests or declare any dividend. The exclusive option agreement will remain effective until the WOFEs or any third party designated by the WOFEs acquire all equity interest of the VIEs. i) VIE Agreements that give the Company effective control of VIEs (continued) Equity Pledge Agreement Pursuant to relevant equity pledge agreements, each shareholder of the VIEs has pledged all of his or her equity interest held in the VIEs to the WOFEs to guarantee his or her obligations under the business operation agreement, the power of attorney, exclusive option agreement and the exclusive technology consulting and service agreement. In the event that the VIEs breach any obligations under these agreements, the WOFEs as the pledgee, will be entitled to request immediate disposal of the pledged equity interests and have priority to be compensated by the proceeds from the disposal of the pledged equity. The Nominee Shareholders may not dispose of the equity interests or create or permit any pledges which may have an adverse effect on the rights or benefits of the WOFEs without the prior written consent of the WOFEs. The relevant share pledge agreements will remain effective until the VIEs and its Nominee Shareholders discharge all of their obligations under the VIE Agreements and the pledgee consents such discharge in writing. ii) VIE Agreement Exclusive technology consulting and service agreement Pursuant to the exclusive technology consulting and service agreements, WOFEs have the exclusive right to provide the VIEs and their subsidiaries (as designated in the agreement) with technical support, consulting services and other services. The WOFEs shall exclusively own any intellectual property arising from the performance of the agreement. During the term of this agreement, the VIEs and their designated subsidiaries may not accept any services covered by this agreement provided by any third party. The VIEs and their designated subsidiaries agree to pay service fees equal to 100% of the net profit generated or otherwise determined by the WOFEs. Except by mutual agreement upon early termination by parties in writing, the exclusive business cooperation agreement will remain effective until the VIEs and their designated subsidiaries are dissolved in accordance with PRC law and regulation. Based on these contractual agreements, the Company believes that the VIEs as described above should be considered as VIEs because the equity holders do not have significant equity at risk nor do they have the characteristics of a controlling financial interest. Given that the Company, through the WOFEs, is the primary beneficiary of these VIEs, the Company believes that these VIEs should be consolidated based on the structure as described above. The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and their subsidiaries are eliminated in the balances presented below: As of December 31, 2018 2019 RMB RMB Cash and cash equivalents 752,102 2,025,233 Restricted cash 3,341,985 2,620,706 Short-term investments 1,574,090 — Account s 800,334 846,454 Quality assurance receivable 2,064,366 3,649,642 Property, equipment and software, net 104,802 103,444 Right of Use assets — 94,852 Loans and receivables, net of provision for loan losses — 36,344 Financial guarantee derivative assets 56,287 — Investments 1,147,569 2,306,831 Deferred tax assets 88,446 122,920 Contract assets 112,103 20,555 Prepaid expenses and other assets 167,817 1,290,996 Total assets 10,209,901 13,117,977 Payable to platform customers 905,034 684,630 Quality assurance payable 3,819,379 4,776,153 Payroll and welfare payable 129,809 115,540 Taxes payable 208,585 32,468 Short-term borrowings — 85,000 Contract liabilities 158,061 50,166 Deferred tax liabilities 78,268 47,117 Leasing liabilities — 84,284 Amounts 1,609,126 3,189,663 Accrued expenses and other liabilities 190,406 237,802 Total liabilities 7,098,668 9,302,823 For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Net revenue 3,900,454 4,250,978 4,684,436 Net profit 730,855 1,604,530 661,808 Net cash provided by operating activities 3,233,966 1,356,887 74,977 Net cash provided by (used in) investing activities (1,642,454 ) (1,031,968 ) 367,903 Net cash provided by (used in) financing activities (31,250 ) 1,043,899 108,972 Net increase in cash, cash equivalents and restricted cash 1,560,262 1,368,818 551,852 Cash, cash equivalents and restricted cash at beginning of year 1,165,007 2,725,269 4,094,087 Cash, cash equivalents and restricted cash at end of year 2,725,269 4,094,087 4,645,939 Under the VIE Arrangements, the Company has the power to direct activities of the VIEs and can have assets transferred out of the VIEs. Therefore, the Company considers that there is no asset in the VIEs that can be used only to settle obligations of the VIEs, except for registered capital and PRC statutory reserves, if any. As the VIEs are incorporated as limited liability company under the Company Law of the PRC, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the VIEs. Currently there is no contractual arrangement which requires the Company to provide additional financial support to the VIEs. However, as the Company conducts its businesses primarily based on the licenses and approvals held by the VIEs and their subsidiaries, the Company has provided and will continue to provide financial support to the VIEs. (c) Business combinations and noncontrolling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 “Business Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total costs of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated income statements. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. In a business combination achieved in stages, the Company re-measures re-measurement When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained noncontrolling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary. For the Company’s majority-owned subsidiaries and VIEs, a noncontrolling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Company. Consolidated net income (loss) on the consolidated income statements includes the net income (loss) attributable to noncontrolling interests and mezzanine equity holders when applicable. Net income (loss) attributable to mezzanine equity holders is included in net income (loss) attributable to noncontrolling interests on the consolidated income statements, while it is excluded from the consolidated statements of changes in shareholders’ equity. The cumulative results of operations attributable to noncontrolling interests, along with adjustments for share-based compensation expense arising from outstanding share-based awards relating to subsidiaries’ shares, are also recorded as noncontrolling interests in the Company’s consolidated balance sheets. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows. (d) Use of estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Financial statements amounts that reflect significant accounting estimates and assumptions include revenue recognition, fair value of quality assurance liabilities, valuation allowance for deferred tax assets, allowance for doubtful accounts, allowance for loan losses, determination of uncertain tax positions, accounting for convertible redeemable preferred shares, and valuation of share-based awards. Such accounting estimates are impacted significantly by judgements and assumptions used in the preparation of the Group’s consolidated financial statements, and actual results could differ materially from these estimates. Changes in estimates are recorded in the period they are identified. (e) Foreign currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The US$ is the functional currency of the Group’s entities incorporated in Cayman Islands and Hong Kong, and the RMB is the functional currency of the Group’s PRC subsidiaries. Transactions denominated in other than the functional currencies are re-measured re-measured The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses items are generally translated at the average exchange rates prevailing during the fiscal year. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders’ deficit on the consolidated financial statements. The exchange rates used for translation on December 31, 2018 and 2019 were US$1.00= RMB6.8632 and RMB6.9762, respectively, representing the index rates stipulated by the People’s Bank of China. (f) Convenience translation Translations of balances in the Group’s consolidated balance sheet, consolidated statement of operations and comprehensive income (loss) and consolidated statement of cash flows from RMB into US$ as of and for year ended December 31, 2019 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.9618, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 31, 2019. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2019, or at any other rate. (g) Significant risks and uncertainties Risk of concentration As of December 31, 2018 and 2019, substantially all of the Group’s cash, term deposit and cash equivalents, restricted cash and short-term investments were held in major financial institutions located in the PRC and in Hong Kong, which management considers to be of high credit quality. Accounts receivable are generally unsecured and denominated in RMB, and are derived from revenues earned from operations arising primarily in the PRC. No individual customer accounted for more than 10% of net revenues for the years ended December 31, 2017, 2018 and 2019. No individual customer accounted for more than 10% of accounts receivable as of December 31, 2018 and 2019. Risk of uncertainties In October 2019, the China Banking and Insurance Regulatory Commission, together with eight other regulatory agencies jointly promulgated the Supplemental Rules to the Administration of Financing Guarantee Companies (“Circular 37”), which provides that any entity providing client referral or credit assessment services to the lending institutions may not provide financing guarantee services in a direct or a disguised form without the regulatory approval. If any entity operates financing guarantee business or provide financing guarantee services in a disguised form without appropriate approval, its business operations will be banned by the regulatory authorities and it will be required to properly settle existing business . Such entity might also subject to penalties including fines and confiscation of illegal gains if applicable. In the Group’s collaboration with institutional funding partners, the Group provides certain quality assurance commitment to attract and maintain the Group’s cooperation with institutional funding partners. Due to the lack of legal interpretation for financing guarantee in a disguised form, there is uncertainty related to whether these quality assurance commitment provided constitute a financing guarantee in a disguised form. If the quality assurance commitment provided by the Group were considered to be financing guarantee in a disguise form, the Group’s business, financial condition, results of operations and liquidity will be materially and adversely affected. In order to reduce the compliance risk under Circular 37, the Group incorporated a licensed financial guarantee company in late 2019, which, since its incorporation, provides direct guarantees for certain loans funded by the institutional funding partners to replace existing quality assurance commitment provided. The Group in the process of increasing its guarantee capability by obtaining additional financial guarantee licenses or increase the capital of its financial guarantee subsidiary to further reduce its risk of noncompliance. (h) Cash and cash equivalents Cash and cash equivalents represent cash on hand, demand deposits and highly liquid investments placed with banks or other financial institutions, which have original maturities less than three months. (i) Restricted cash Restricted cash represents: (i) Cash in quality assurance is cash managed by the Group through designated bank accounts and cash managed by China United SME Guarantee Corporation under the new quality assurance program. There is no other use of these funds except for making payments to investors for default loans that are subject to quality assurance protection. As of December 31, 2018 and 2019, the restricted cash related to quality assurance obligations were RMB2,414,449 and RM B (ii) Cash in investor reserve funds is cash managed by the Group through a designated bank account or third party payment company account. There is no other use of these funds except for payments to protect relevant investors from potential losses resulting from delinquent loans and or underperformance of the investment programs. As of December 31, 2018 and 2019, the restricted cash related to investor reserve funds amounted to RMB 17,971 RMB41,958, respectively. As of December 31, 2019, the underlying investment programs were all matured and the Group was in the process of settling the remaining balance in this account. (iii) Cash received from investors or borrowers that has not yet been disbursed, due to a settlement time lag. As of December 31, 2018 and 2019, the restricted cash related to cash not yet disbursed amounted to RMB 905,034 RMB684,630 (iv) Cash received via consolidated trusts that has not yet been distributed. As of December 31, 2018 and 2019, the restricted cash related to cash not yet distributed amounted to RMB 303,667 RMB799,646 , respectively. (v) Cash held as collateral for short-term borrowings of subsidiar ies 26,000 RMB251,853 , respectively. (vi) Cash held in escrow accounts that is jointly managed by the Group Group 10,436 RMB44,367, respectively. (vii) Cash held in designated account under the name of a subsidiary of the Group as a security deposit for an institutional funding partner. As of December 31, 2018 and 2019, the restricted cash related to security deposit amounted to Nil and RMB390,000. (j) Short-term Investments Short-term investments mainly consist of investments in wealth management products. The wealth management products are certain deposits with variable interest rates or principal not guaranteed with certain financial institutions. Realized and unrealized gain related to the short-term investments is recorded as other income in the consolidated statements of comprehensive income. RMB35,516, RMB96,061 and RMB52,863 was recognized for the year s (k) Accounts receivable, contract assets and allowance for accounts receivable Accounts receivable is related to the facilitation and post-facilitation service in relation to loans facilitated by the Group. Contract assets represent the Group’s right to consideration in exchange for investment management services in relation to investment programs that the Company has transferred to the customer before payment is due. The Group only recognizes accounts receivable and contract assets to the extent that the Group believes it is probable that it will collect substantially all of the consideration to which it will be entitled to in exchange for the services transferred to the customer. Accounts receivable and contract assets is stated at the historical carrying amount net of write-offs and allowance for doubtful accounts. The Group establishes an allowance for doubtful accounts based on estimates, historical default experience and other factors surrounding the credit risk of borrowers. The Group evaluates and adjusts its allowance for accounts receivable and contract assets on a quarterly basis or more often as necessary. Accounts receivable and contract assets that are delinquent for 180 days or more are generally written off. (l) Investments The Group has classified its investments into equity method investments and non-marketable equity investments. The Group applies equity method in accounting for its investments in entities in which the Group has the ability to exercise significant influence but does not have control and the investments are in either common stock or in-substance Non-marketable non-marketable The following As of December 31, 2018 2019 Equity method investments 81,000 96,622 Non-marketable 86,501 856,211 167,501 952,833 Equity method investments For the years ended December 31, 2017, 2018 and 2019, the Group completed the following significant investments which were accounted for as equity investments: In October 2018, the Group made investments in a private equity funds with the cash consideration of RMB50,000 and The Company accounted for these investments under equity methods. For the years ended December 31, 2017, 2018 and 2019, the Company also made several insignificant equity method investments ranging from RMB5,000 to RMB25,000. For the years ended 2017, 2018 and 2019, the Company disposed certain equity method investments for total consideration of nil, nil and RMB20,000, which results a gain of nil, nil, and RMB10,621 in other income, respectively. As of December 31, 2018 and 2019, the equity pick up adjustment made by the Group on the equity method investments are not material. For the year s Non-marketable equity investments For the years ended December 31, 2017, 2018 and 2019, the Group completed the following significant investments which were accounted for as non-marketable In December 2019, the Group acquired less than of i n a company in the fina ncial service indu s try of appr o ximately billion In July 2019, the Group acquired approximately 3.22% preferred share in Fansheng Limited for a cash consideration of USD4,370 or equivalent of RMB30,000 and accounted for it as non-marketable equity investment using measurement alternative. In April 2019, the Group acquired approximately 6.98% preferred share in Shanghai Zhan Lue data technology Co., Ltd. for a cash consideration of RMB30,000 and accounted for it as non-marketable equity investment using measurement alternative. In October 2018, the Group acquired approximately 5% preferred share in Shanghai Yi Yang automobile service Co., Ltd. for a cash consideration of RMB30,000 and accounted for it as non-marketable equity investment using measurement alternative. For the years ended 2017, 2018 and 2019, the Group also made several insignificant investments in non-marketable equity investments ranging from RMB209 to RMB13,952. For the years ended 2017, 2018 and 2019, the Company disposed certain non-marketable equity investments for total consideration of nil, nil and RMB1,508, which results a loss of nil, nil, and RMB7 in other income, respectively. As of December 31, 2018 and 2019, the amount of fair value change adjustment recognized for non-marketable equity investments were RMB77 and nil, respectively. (m) Fair value measurement Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value include: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities. Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Group does not have any non-financial The Group’s financial instruments consist principally of cash and cash equivalents, restricted cash, short-term investments, quality assurance receivable, loans receivable, accounts receivable, contract assets, financial guarantee derivative, payable to platform customers, quality assurance payable, short-term borrowings and other liabilities. As of December 31, 2018 and 2019, the carrying values of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, payable to platform customers, short-term borrowings and other liabilities approximated their fair values reported in the consolidated balance sheets due to the short term maturities of these instruments. The quality assurance receivable is measured using the contractual amounts due from borrowers, taking into account an expected rate of default. Due to the short term nature of the contributions, no discount factor was applied. Subsequently, the carrying value approximates fair value due to the short term nature of the receivable. The quality assurance payable is measured by taking into account the expected payout rate and incorporating a markup margin. On a recurring basis, the Group measures its short-term investments, financial guarantee derivative and non-marketable equity investments at fair value. Since financial guarantee derivative and non-marketable equity investments do not have quoted price in active markets, they are valued using valuation model. Management is responsible for determining the fair value. The following table sets forth the Group’s assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: December 31, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair value RMB RMB RMB RMB Assets Short-term investments —wealth management products — 1,694,660 — 1,694,660 Investments —non-marketable — — 86,501 86,501 Financial guarantee derivative assets — — 56,287 56,287 Total Assets — 1,694,660 142,788 1,837,448 December 31, 2019 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair value RMB RMB RMB RMB Assets Short-term investments —wealth management products — 114,560 — 114,560 Investments —non-marketable — — 856,211 856,211 Total Assets — 114,560 856,211 970,771 The Group values its wealth management products held in certain bank accounts using quoted rate of return or quoted subscription/redemption prices published by the banks for these products, and accordingly, the Group classifies wealth management products as Level 2 within the fair value hierarchy based on the nature of the fair value inputs. The non-marketable equity investments are accounted for under the measurement alternative and therefore are classified as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. The Company did not transfer any assets or liabilities in or out of level 3 during the years ended December 31, 2018 and 2019. Changes in fair value measurement categorized within Level 3 of the fair value hierarchy are analyzed each period for changes in estimates or assumptions. Level 3 Valuation Techniques Level 3 financial assets and liabilities consist of financial guarantee derivatives and non-marketable Non-marketable non-marketable start-up non-marketable 0 The Group uses the discounted cash flow model to value financial guarantee derivatives at inception and subsequent valuation dates. The Group analyzes the fair value of this derivative by first defining the cash flows associated with the derivative and then considers the assumptions used in determining the cash flows from a market participant’s perspective. This discounted cash flow model incorporates assumptions such as the expected default rates, discount rates, as well as early repayment rates. The expected default rate is determined based on the historical performance of loans with similar tenure and of similar credit worthiness and adjusted by the inputs that other market participants would use. Aside from the expected default rate, the Group has also considered the discount rate and early repayment rate in determining the fair value of the financial guarantee derivatives. As the term of the loans are short and the market interest rate is relatively stable, the discount rate and early repayment rate assumptions does not have a significant impact on the fair value of the derivative. Changes in the fair value are recorded in fair value change of financial guarantee derivatives in the Group’s consolidated statements of Comprehensive Income (Loss). The following table sets forth the significant unobservable inputs used for fair value measurement of financial guarantee derivatives: As of December 31, 2018 2019 Expected default rate 0.46% - N/A Please refer to Note 2(t) for the movement and gain of financial guarantee contracts and related derivatives. The following table sets forth the movement of non-marketable investments measured using Level 3 valuation techniques: For the years ended 2018 2019 Opening balance — 86,501 Purchase of non-marketable investments 86,578 771,218 Disposal of non-marketable investments — (1,508 ) Fair value change (77 ) — Ending balance 86,501 856,211 (n) Net interest income The Group, through consolidated trust plans (See Note 4), WOFEs and subsidiaries of VIEs, originate and hold loans. Interest on loans receivable is accrued based on the contractual interest rates of the loan as earned. Accrual of interest is generally discontinued when reasonable doubt exists as to the full, timely collection of interest or principal. When a loan is discontinued from interest accrual, the Group stops accruing interest and revers

Significant equity transactions

Significant equity transactions and acquisitions	12 Months Ended
	Dec. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Significant equity transactions and acquisitions	3. Significant equity transactions and acquisitions (a) Initial public offering On November 10, 2017, the Company completed its initial public offering on the New York Stock Exchange under the symbol “PPDF”. The Company offered 17,000,000 American Depositary Shares (“ADS”). Each ADS represents five Immediately prior to the completion of the initial public offering, all classes of preferred shares of the Company were converted and redesignated as Class A ordinary shares on a one-for-one SPC-Star four In respect of all matters subject to shareholders’ vote, each holder of Class A ordinary share is entitled to one and each holder of Class B ordinary share is entitled to twenty votes. Class B ordinary share is convertible into one Class A ordinary share at any time by the holder thereof. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Upon any sale, transfer, assignment or disposition of any Class B ordinary share by the shareholder to any person who is not an affiliate of such shareholder, or upon a change of ultimate beneficial ownership of any Class B ordinary share to any person who is not an affiliate of the registered shareholder of such share, such Class B ordinary shares shall be automatically and immediately converted into the equivalent number of Class A ordinary shares. (b) Acquisition of HB micro lending company On August 31, 2017, the Group, through one of its subsidiaries, entered into a share purchase agreement to purchase 32% of the common shares of HB micro lending company (“HB”) on National Equities Exchange and Quotations an equity exchange market in China for a total cash consideration of RMB48.2 million. Further in October, the Group, through another subsidiary, entered into an equity pledge agreement with HB and paid cash consideration of RMB42.0 million to acquire 28% of its restricted common shares. As of December 31, 2017, the Group was able to control 60% of the voting rights of HB and has majority seats on the board of directors thus controlling HB. In accordance with ASC Topic 805, the acquisition of HB had been accounted for as a business combination and the results of operations of HB from the acquisition date, i.e. October 31, 2017 The allocation of the purchase price is as follows: As of acquisition date Amortization years RMB Identifiable assets acquired Identifiable intangible asset 63,760 Indefinite Cash 50,068 Other asset 2,337 Identifiable liabilities assumed Deferred tax liability (15,940 ) Other liability (393 ) Goodwill 50,411 Non-controlling (60,097 ) Total purchase price 90,146

Loans receivable, net

Loans receivable, net	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Loans receivable, net	4. Loans receivable, net Loans receivable originated and retained by the Group consist of the following: As of December 31, 2018 2019 RMB RMB Loans (adjusted, Note 2(ah)) 2,405,489 5,124,376 Allowance for loan losses (adjusted, Note 2(ah)) (74,381 ) (316,124 ) Loans receivable, net 2,331,108 4,808,252 As of December 31, 2019 and 2018, the entire loans receivable balance represents the outstanding loans made to the borrowers from consolidated trusts and loans held by subsidiaries of the Group. As part of the Group’s efforts to develop new product offerings for institutional funding partners, the Group has established a series of trusts administrated by third-party trust companies. These trusts make loans solely to borrowers referred the Group to provide returns to the trust beneficiaries. As such, the Group has power to direct the activities of the trusts. Also, the Group is either the sole beneficiary of certain trusts or has the obligation to absorb losses or the right to receive residual benefits from certain trusts that could potentially be significant to these trusts. As a result, the Group is considered the primary beneficiary of the trusts and their assets, liabilities, results of operations and cash flows are consolidated accordingly. The following table sets forth the activity in the allowance for loan losses for the years ended December 31, 2017, 2018 and 2019. For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Beginning balance 1,084 47,670 74,381 Current period provision 65,299 204,442 372,066 Current period reversal (18,713 ) (11,693 ) (72,562 ) Current period write off — (166,038 ) (57,761 ) Ending balance 47,670 74,381 316,124 The following table sets forth the aging 1-89 days 90-119 days 120-149 days 150-179 days Total past due Current Total loans receivable December 31, 2018 59,685 11,173 7,739 7,040 85,637 2,319,852 2,405,489 December 31, 2019 283,354 51,775 45,321 40,034 420,484 4,703,892 5,124,376 As of December 31, 2018 and 2019, loans receivable amounting to RMB25,952 and RMB137,130 were in non-accrual status with no loans receivables accruing interest 90 days past due. Interest income for non-accrual loans receivable is recognized on a cash basis. For the year ended December 31, 2017, 2018 and 2019, interest income earned from non-accrual loans receivable were not material. As prescribed in ASC Topic 310, credit losses shall be deducted from the allowance for credit losses and written off in the period deemed uncollectible. Uncollectible generally means loans remain past due after all commercially reasonable means of recovering the loan balance have been exhausted. As disclosed in note 2(n), the Company writes-off the loans receivable and the related allowance when the loans receivables are delinquent for 180 days or more. The allowance for loan losses is maintained at a level considered adequate to provide for losses that will probably incur. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Group’s past loan loss history, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, composition of the loan portfolio, current economic conditions and other relevant factors. The allowance is calculated at portfolio-level since the loans portfolio is typically of smaller balance homogenous loans and is collectively evaluated for impairment. In estimating the probable loss of the loan portfolio, the Group also considers qualitative factors such as current economic conditions and or events in specific industries and geographical areas, including unemployment levels, trends in real estate values, peer comparisons, and other pertinent factors such as regulatory guidance. The following table sets forth the total assets, liabilities, results of operations and cash flows of the above trusts, which are included in the Group’s consolidated financial statements. As of December 31, 2018 2019 RMB RMB Restricted cash 303,667 799,646 Loans and other receivable 2,507,878 5,092,609 Total assets 2,811,545 5,892,255 Funds payable to investors of consolidated trusts 2,808,506 5,887,693 Taxes payable 3,039 4,562 Total liabilities 2,811,545 5,892,255 For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Net revenue (28,372 ) (164,082 ) (243,795 ) Net loss (44,396 ) — — Net cash used in operating activities (16,024 ) (18,008 ) (78,339 ) Net cash used in investing activities (615,971 ) (1,624,784 ) (1,290,842 ) Net cash provided by financing activities 675,654 1,901,684 1,865,160 Net increase in cash, cash equivalents and restricted cash 43,659 258,892 495,979 Cash, cash equivalents and restricted cash at beginning of year 1,116 44,775 303,667 Cash, cash equivalents and restricted cash at end of period 44,775 303,667 799,646 The following table sets forth the breakdown of funds payable to investors of consolidated trusts between the institutional funding partners and the Group as of December 31, 2018 and December 31, 2019: As of December 31, 2018 2019 Institutional funding The Group Institutional funding The Group Principal invested 1,493,916 1,093,610 3,529,785 1,316,130 Accrued interest/residual interest 11,993 208,987 130,698 911,080 Total 1,505,909 1,302,597 3,660,483 2,227,210

Prepaid expenses and other asse

Prepaid expenses and other assets	12 Months Ended
	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses and other assets	5. Prepaid expenses and other assets Receivables, prepayments and other assets consist of the following: As of December 31, 2018 2019 RMB RMB Security deposits 1 60,052 1,108,146 Prepaid rental deposits 92,922 100,125 Prepaid online marketing expenses 25,975 17,701 Advances 19,517 14,220 Convertible loan 2 — 20,000 Others 23,327 130,831 221,793 1,391,023 1 The balances represent security deposits set aside as requested by certain institutional funding partners, held in deposit accounts with the institutional funding partners. 2 In 2019, the Group agrees to grant a RMB20,000 loan, which can be extend to RMB40,000, to Shanghai Qiaopan Technology Company Limited (“Qiaopan”), a third party company founded by a former employee of the Group. Together with the loan agreement, the Group agrees to lent certain equipment amounting to RMB8,000 to Qiaopan. The loan and equipment are convertible into a minority interest in Qiaopan upon occurrence of certain events in 2020. If Qiaopan fails to fulfill such events, Qiaopan is obligated to repay loan at a 8% interest rate and pay a rental fee of certain percentage on the equipment amount for its usage of the equipment. The Group considered this arrangement and concluded although Qiaopan meets the definition of VIE, the Group does not need to consolidate Qiaopan in its consolidated financial statements as the Group does not have power to direct the activities of Qiaopan. Qiaopan engaged in offline B2C consumption-oriented lending business with focuses on consumers of 3C products (i.e. computer, communications, and consumer electronics). Qiaopan refers these offline B2C borrowers to institutional funding partners. A reserve pool equals to 5% to 10% of the total lending amount is set aside by Qiaopan to repay the institutional funding partners in the event of default of borrowers referred by Qiaopan. Qiaopan and its founders/directors are obligated to replenish the reserve pool whenever payment is made from the reserve pool. In December, 2019, the Group granted a guarantee in an amount up to RMB100,000 to Shanghai Qiaopan Technology Company Limited (“Qiaopan”) to facilitate its offline B2C lending business. Under the guarantee agreement, the Group is only liable to the institutional funding partner when the reserve pool is depleted. Once the Group makes any guarantee payment under this guarantee agreement, the Group shall be able to claim the payment amount from the founders/directors of Qiaopan who gave personal guarantee to the Group to repay any payments made by the Group under this guarantee agreement, as well as any applicable penalties, damages and professional fees incurred by the Group. For the year ended December 31, 2019, no guarantee payments were made by the Group under this guarantee agreement. As of December 31, 2019, no liability was recorded by the Group as the Group believe the reserve pool set aside by Qiaopan is enough to cover the default risk of borrowers referred by Qiaopan to its institutional funding partners and the relevant guarantee liability, if any, for the outstanding loans covered by this guarantee agreement is not material.

Property, equipment and softwar

Property, equipment and software, net	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, equipment and software, net	6. Property, equipment and software, net Property, equipment and software, net consist of the following: As of December 31, 2018 2019 RMB RMB Computer and electronic equipment 126,842 166,019 Office furniture and equipment 13,843 15,993 Leasehold improvement 55,575 56,554 Software 28,069 33,797 Total 224,329 272,363 Less: Accumulated depreciation and amortization (1) (80,327 ) (138,039 ) Property, equipment and software, net 144,002 134,324 (1) Depreciation and amortization expenses for the years ended December 31, 2017, 2018 and 2019 was RMB 22,555 42,162 57,712

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	7. Intangible assets Intangible assets consist of the following: As of December 31, 2018 2019 RMB RMB Micro-Lending License 63,760 63,760 Financing guarantee License 1 4,600 4,600 Factoring License 1 265 265 Financial Leasing License 1 255 255 Total 68,880 68,880 Less: Accumulated amortization and impairment — (4,600 ) Intangible assets 68,880 64,280 1 The Group acquired Shenzhen Rongze Commerecial Co., Ltd, Zhongyu Financial Leasing and Zhongyisheng Financial Guarantee Co., Ltd. in 2018. The acquisitions met the “single or similar asset threshold” and are not considered as business combination in accordance with ASC Topic 805. In 2019, the financial guarantee licenses related to Zhongyisheng Financial Guarantee Co., Ltd. was revoked and therefore full impairment was provided.

Accounts receivable and contrac

Accounts receivable and contract assets	12 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Accounts receivable and contract assets	8. Accounts receivable and contract assets The following table presents the accounts receivable as of December 31, 2018 and 2019: As of December 31, 2018 2019 RMB RMB Accounts receivable (adjusted, Note 2(ah)) 862,586 1,028,004 Allowance for doubtful accounts (adjusted, Note 2(ah)) (50,544 ) (145,699 ) Accounts receivable, net 812,042 882,305 The following table presents the aging of past-due accounts receivable or more by type of fee as of December 31, 2018 and 2019: Current 1-89 days past due 90-119 Past due 120-149 Past due 150-179 days Total accounts receivable December 31, 2018 Loan facilitation 765,354 38,768 8,193 8,086 7,720 828,121 Post facilitation 10,310 4,197 1,689 1,877 1,926 19,999 Other 14,466 — — — — 14,466 Total 790,130 42,965 9,882 9,963 9,646 862,586 December 31, 2019 Loan facilitation 793,608 78,878 22,058 20,440 18,920 933,904 Post facilitation 38,710 11,487 4,956 5,238 5,346 65,737 Other 28,363 — — — — 28,363 Total 860,681 90,365 27,014 25,678 24,266 1,028,004 As disclosed in note 2(k), the Company writes-off the accounts receivable and the related allowance when the accounts receivables are delinquent for 180 days or more. The following table sets forth the movement of provision for accounts receivable as of December 31, 2018 and 2019, respectively: For the Years Ended December 31, 2018 2019 RMB RMB Beginning balance — 50,544 Impact due to adoption of new revenue standard 16,501 — Current period accrual 107,352 274,375 Current period reversal (700 ) (12,493 ) Current period write-off (72,609 ) (166,727 ) Ending balance 50,544 145,699 The following table sets forth the contract assets as of December 31, 2018 and 2019: As of December 31, 2018 2019 RMB RMB Investment management fee for investment programs 110,321 20,555 Contract acquisition cost 1,782 — 112,103 20,555 The following table sets forth the movement of contract assets for the years ended December 31, 2018 and 2019: For the Years Ended December 31, 2018 2019 RMB RMB Beginning balance — 112,103 Impact due to adoption of new revenue standard 53,084 — Recognition of investment management fee 208,471 109,423 Recognition of contract acquisition cost 4,186 — Settlement upon maturity of investment programs (146,483 ) (199,189 ) Settlement upon fulfilment of contract (7,155 ) (1,782 ) Ending balance 112,103 20,555

Employee benefits

Employee benefits	12 Months Ended
	Dec. 31, 2019
Postemployment Benefits [Abstract]
Employee benefits	9. Employee benefits The full time employees of the Group are entitled to staff welfare benefits, including medical insurance, basic pensions, unemployment insurance, work injury insurance, maternity insurance and housing funds. The Group is required to accrue for these benefits based on certain percentages of the employees’ salaries in accordance with the relevant regulations and to make contribution to the state-sponsored pension and medical plans. The total amounts charged to the consolidated statements of comprehensive income (loss) for such employee benefits amounted to approximately RMB 128,554 143,078 RMB144,596 for the years ended December 31, 2017, 2018 and 2019, respectively.

Accrued expenses and other liab

Accrued expenses and other liabilities	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued expenses and other liabilities	10. Accrued expenses and other liabilities Accrued expenses and other liabilities consist of the following: As of December 31 2018 2019 RMB RMB Funds payable to financial institution partners* 7,490 95,643 Accrued marketing expense 113,568 45,616 Accrued collection service fee 15,005 35,358 Accrued technical services expense 16,510 20,945 Accrued payment channel expenses 25,728 18,620 Accrued professional service fee 16,441 16,270 Others 27,777 55,173 222,519 287,625 * The balance of payable mainly includes funds received from borrowers but not yet transferred to the institutional funding partners due to the settlement time lag.

Related party balances and tran

Related party balances and transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related party balances and transactions	11. Related party balances and transactions Transaction with PPcredit Amounts incurred by the Group For the Years ended December 31, 2017 2018 2019 RMB RMB RMB Data collection service expense (i) . 84,362 109,666 43,494 (i) PPcredit Data Service (Shanghai) Co., Ltd. (“PPcredit”) was founded in April 2016 by the founders of the Group to provide data collection services. The Group mainly uses PPcredit as a data provider since PPcredit was established. The price for the service is determined based on the price charged by other market participants. Amounts due to related party As of December 31, 2018 2019 RMB RMB PPcredit — 4,309 Amounts due from related party As of December 31, 2018 2019 RMB RMB PPcredit 2,830 —

Taxation

Taxation	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Taxation	12. Taxation Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed. Hong Kong Hong Kong profits tax rate is 16.5% for the years ended December 31, 2016 and 2017. No Hong Kong profits tax was provided for as there was no estimated assessable profits tax during the relevant periods. The PRC On March 16, 2007, the National People’s Congress of the PRC enacted an Enterprise Income Tax Law (“EIT Law”), under which Foreign Investment Enterprises (“FIEs”) and domestic companies would be subject to EIT at a uniform rate of 25 15 15 re-applied 15 The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a non-PRC The EIT Law also imposes a withholding income tax of 10% on dividends distributed by a FIE to its immediate holding company outside of China, if such immediate holding company is considered as a non-resident re-invested no Composition of income tax expenses The current and deferred portions of income tax expenses included in the consolidated statements of comprehensive income (loss) during the years ended December 31, 2017, 2018 and 2019 are as follows: For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Current income tax expenses 371,354 94,787 390,080 Deferred income tax expense (benefit) (96,643 ) 56,419 91,882 Total 274,711 151,206 481,962 Reconciliation of the differences between statutory tax rate and the effective tax rate The Group did not identify significant unrecognized tax benefits for the years ended December 31, 2017, 2018 and 2019 and does not anticipate any significant change in unrecognized tax benefits within 12 months from December 31, 2019. Aggregate undistributed earnings of the Company’s subsidiaries and VIE located in the PRC that are available for distribution at December 31, 2019 are considered to be indefinitely reinvested and accordingly, no provision has been made for the Chinese dividend withholding taxes that would be payable upon the distribution of those amounts to any entity within the Group that is outside the PRC. The following table sets forth reconciliation between the computed expected tax expenses (benefit) rate and the effective income tax rate: For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Statutory tax rate 25 % 25 % 25 % Research and development tax credit (2 )% (2 )% (3 ) % Effect of tax holiday* (6 )% (19 )% (7 ) % Change in valuation allowance — — 1 % Non-deductible expenses 2 % 2 % 1 % Others 1 % — — Effective income tax rate 20 % 6 % 17 % * Due to the confirmation of software enterprise status of a subsidiary of the Group in the fourth quarter of 2018, the Group reversed a total of 268,051 136,424 131,627 The aggregate amount and per share effect of the tax holidays are as follows For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Tax holiday effect 153,908 460,333 202,923 Net income per share effect - Basic 0.20 0.31 0.13 - Diluted 0.20 0.29 0.13 Deferred tax assets The following table sets forth the significant components of the deferred tax assets: As of December 31, 2018 2019 RMB RMB Deferred tax assets: Timing difference in revenue recognition for transaction service 63,733 62,718 Provision for accounts receivable and loans receivable 52,207 49,827 Net accumulated losses-carry forward 38,851 15,166 Payroll and welfare payable and other temporary difference 8,115 8,274 Less: valuation allowance (40,143 ) (6,245 ) Total deferred tax assets 122,763 129,740 Deferred tax liabilities: Quality assurance payable (41,799 ) (34,367 ) Intangible assets arisen from business combination (15,940 ) (15,940 ) Investor reserve funds (23,287 ) (15,523 ) Unrealized gain in consolidated trusts — (130,009 ) Other taxable temporary difference (19,038 ) (3,083 ) Total deferred tax liabilitie s (100,064 ) (198,922 ) Net deferred tax assets (liabilities) 22,699 (69,182 ) Movement of valuation allowances For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB At beginning of year 2,906 21,538 40,143 Current year additions 18,688 22,585 741 Current year reversals (56 ) (3,980 ) (34,639 ) At end of year 21,538 40,143 6,245 Valuation allowances have been provided on deferred tax assets due to the uncertainty surrounding their realization. As of December 31, 2018 and 2019, valuation allowances on deferred tax assets mainly arising from tax loss carry forwards were provided because it was more likely than not that the Group will no As of December 31, 2019, total tax loss carry forwards of the Company’s subsidiaries in the PRC of approximately RMB 64,655 The applicable carry-forward limitation period is 5 years under the PRC EIT law. Uncertain tax positions The Group evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31, 2018 and 2019, the Group did no

Ordinary shares and treasury st

Ordinary shares and treasury stock	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Ordinary shares and treasury stock	13. Ordinary shares and treasury stock In June 2012, FinVolution Group was incorporated as Limited Liability Company with authorized share capital of US$50,000 divided into 5,000,000,000 shares, of which 4,266,159,600 shares are designated as ordinary shares at par value of US$0.00001 and 733,840,400 as preferred shares. Immediately prior to the completion of the initial public offering, the Company adopted a dual class share structure. All classes of preferred shares of the Company were converted and designated as Class A ordinary shares on a one-for-one basis and all the ordinary shares of our company were redesignated as Class B ordinary shares on a one-for-one one-for-one On November 10, 2017, the Company successfully completed its initial public offering on the New York Stock Exchange. The Company sold 85,000,000 Class A ordinary shares (equivalent to 17,000,000 ADS) at US$2.6 per share (equivalent to US$13.0 per ADS) for a total offering size of approximately RMB1,464.8 million (US$221.0 million). Concurrently with the initial public offering, the Company also closed a private placement with Sun Kung Kai & Co. (CP) Limited and sold 19,230,769 Class A ordinary shares at an aggregate investment amount of RMB331.4 million (US$50.0 million). For the years ended December 31, 2018 and 2019, unanimously approved by the Board, the Company issued 30,000,000 and 17,000,000 Class A Ordinary Shares for exercise of share based incentive plans. For the years ended December 31, 2018 and 2019, the Company repurchased 60,306,360 and 12,729,500 Class A ordinary shares on the open market for an aggregate cash consideration of US$67,622 and US$6,802 (RMB47,173). The weighted average price of these shares repurchased were US$1.12 and US$0.53 per share. These issued and repurchased shares are considered not outstanding and therefore were accounted for under the cost method and includes such treasury stock as a component of the shareholder’s equity. For the year ended December 31, 2018 and 2019, a total of 44,005,360 and 55,396,235 . As of December 31, 2018 and 2019, 46,301,000 and 20,634,265 shares were not in use and not outstanding, respectively. For the year ended December 31, 2018 and 2019, certain Class B ordinary shareholders sold 2,000,000 and 73,000,000 Class B ordinary shares on the open market which were automatically transferred into Class A ordinary shares upon completion of the transaction. As of December 31, 2019, 1,550,071,169 ordinary shares have been issued at par value of US$0.00001, including (i) 964,071,169 Class A ordinary shares and (ii) 586,000,000 Class B ordinary shares.

Redeemable convertible preferre

Redeemable convertible preferred shares	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Redeemable convertible preferred shares	1 4 On September 13, 2012, the Company issued 2,850,000 1.60 4,560 2,142,857 7.00 15,000 2,345,547 19.90 46,667 On October 20, 2017, the Company effected a share split. Each of ordinary share and preferred share of the Company was subdivided into 100 0.00001 285,000,000 214,285,700 234,554,700 All of the preferred shares were converted to Class B ordinary shares immediately upon the completion of the Company’s initial public offering on November 10, 2017. Prior to their conversion, the preferred shares were entitled to certain preference with respect to conversion, redemption, dividends and liquidation. The Company classified the Preferred Shares in the mezzanine section of the consolidated balance sheets because they were redeemable at the holders’ option any time after a certain date and were contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. The Company recognized accretion to the respective redemption value of the Preferred Shares over the period starting from issuance date to the earliest redemption date. The Company recognized accretion of the Preferred Shares amounted to RMB 3,073,471 Nil Nil

Share-based compensation

Share-based compensation	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation	1 5 1) Share based compensation plan of FinVolution Group The Group recognizes share-based compensation, net of estimated forfeitures, on a straight line basis over the In June 2013, the Group adopted 2013 Share Incentive Plan, or the 2013 plan, which allows the Group to offer share based incentive awards to employees, officers, directors and individual consultants who render services to the Group. The maximum number of the shares that may be issued pursuant to all awards under the 2013 Plan is 221,917,800 ordinary shares after giving effect to the 100-for-1 share split effected by the Group in October 2017. Share options granted under 2013 plan are generally subject to a four-year vesting schedule as determined by the administrator of the plans. In October 2017, the Company adopted 2017 Share Incentive Plan, or the 2017 plan, which allows the Group to offer a variety of share-based incentive awards to employees, officers, directors and individual consultants who render services to the Group. The plan permits the grant of three types of awards: options, restricted shares and restricted share units. The maximum number of the shares that may be issued pursuant to all awards under the 2017 Plan is 1,000,000,000 ordinary shares after giving effect to the 100-for-1 1) Share based compensation plan of FinVolution Group (continued) Share Options The following table sets forth the stock option shares activities under all the option plans for the years ended December 31, 2017, 2018 and 2019: Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value US$ US$ Outstanding at December 31, 2016 112,570,000 0.0650 3.37 22,688 Granted 26,610,000 0.3020 — — Canceled/ Forfeited (7,538,200 ) 0.0967 — — Outstanding at December 31, 2017 131,641,800 0.1108 2.69 172,618 Granted 12,039,050 0.8942 — — Canceled/ Forfeited (3,722,285 ) 0.1930 — — Expired (300,000 ) 0.0040 — — Exercised (44,005,360 ) 0.0543 — — Outstanding at December 31, 2018 95,653,205 0.2214 2.17 47,689 Granted 19,275,000 0.6540 — — Canceled/ Forfeited (6,490,415 ) 0.5964 — — Exercised (53,873,360 ) 0.0977 — — Outstanding at December 31, 2019 54,564,430 0.4519 2.51 4,264 Vested and expected to vest at December 31, 2019 53,286,128 0.4523 2.51 4,143 Exercisable as of December 31, 2019 14,156,930 0.3075 1.54 3,221 1) Share based compensation of FinVolution Group (continued) Share Options The Group did not recognize the share-based compensation expenses for the options excisable upon the occurrence of initial public offering. Immediately upon the completion of the Group’s initial public offering, share-based compensation expenses amounting to RMB 61,544 were recognized. For the years ended December , , and , total share-based compensation expenses recognized related to the share options were RMB 65,324 , RMB 44,490 and RMB , respectively. As of December , , the unrecognized compensation cost was RMB 38,055 . These amounts are expected to be recognized over a weighted average period of 1.56 years. Total compensation cost may be adjusted for future changes in estimated forfeitures. The aggregate intrinsic value is calculated as the difference between the exercise prices of the options and the per-share 1.422 0.7200 The weighted average grant-date per-share 0.7595 The fair value of each option granted under the Company’s Incentive Shares plan was estimated on the date of grant using the binomial model that uses the assumption noted in the following table: Options Granted in 2017 Options Granted in 2018 Options Granted in 2019 RMB RMB RMB Risk-free interest rate 1.97%~2.04 % 2.52%-2.75 % 2.62% Expected life (in years) 5 5 5 Expected dividend yield 0 % 0 % 0% Expected volatility 39.0%~41.9 % 37.74%-38.74 % 38.01% Exercise multiple 2.8 2.2-2.8 2.2-2.8 RSUs The following table sets forth the Company’s RSUs activities under all incentive plans for the years ended December 31, 2017, 2018 and 2019: Number of RSUs Weighted- US$ Unvested at December 31, 2017 — — Granted 7,822,280 1.4375 Vested — — Canceled/ Forfeited (270,800 ) 1.3233 Unvested at December 31, 2018 7,551,480 1.4416 Granted 9,406,495 0.7353 Vested (1,534,570 ) 1.4645 Canceled/ (3,399,610 ) 1.0740 Unvested at December 31, 2019 12,023,795 0.9880 Total share-based compensation cost for the RSUs amounted to nil 5,829 65,829 2.93 2) Share based compensation plan of Shanghai Paifenle Internet Technology Co., Ltd. (“Paifenle”) In April, 2017, the Group authorized a share based compensation plan (the “Paifenle Plan”) that provides for the issuance of up to 15,000,000 11,650,000 3,350,000 In December, 2017, the Board of Directors decided to cancel the Paifenle Plan since Paifenle has discontinued most of its operations. The share-based compensation expenses for the remaining periods were recognized immediately to the current period totaling at RMB 40,828

Net income (loss) per share

Net income (loss) per share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income (loss) per share	16. Net income (loss) per share Basic earnings per share is computed using the weighted average number of the ordinary shares outstanding during the period. Diluted earnings per share (‘‘EPS’’) is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under the treasury stock method. For the year ended December 31, 2017, stock options to purchase ordinary shares and the Series A, Series B and Series C Preference Shares convertible into ordinary shares were anti-dilutive and excluded from the calculation of diluted net loss per share of the Company were 11,302,024 and 631,303,796 on a weighted average basis, respectively. Basic earnings (loss) per share and diluted earnings (loss) per share have been calculated in accordance with ASC Topic 260 on computation of earnings per share for the years ended December 31, 2017, 2018 and 2019 as follows: For the years ended December 31, 2017 2018 2019 RMB RMB RMB Basic net income (loss) per share calculation: Numerator: Net profit (loss) attributable to FinVolution Group 1,082,983 2,469,074 2,372,850 Accretion on Series A convertible redeemable preferred shares redemption value (1,237,274 ) — — Accretion on Series B convertible redeemable preferred shares (905,861 ) — — Accretion on Series C convertible redeemable preferred shares (930,336 ) — — Net income (loss) attributable to ordinary shareholders - basic (1,990,488 ) 2,469,074 2,372,850 Denominator: Weighted average number of ordinary shares outstanding - 779,804,270 1,498,780,165 1,525,814,189 Net income (loss) per share attributable to ordinary shareholders - (2.5525 ) 1.6474 1.5551 Dilute net income (loss) per share calculation: Numerator: Net income (loss) attributable to ordinary shareholders (1,990,488 ) 2,469,074 2,372,850 Denominator: Weighted average number of ordinary shares outstanding - basic 779,804,270 1,498,780,165 1,525,814,189 Ordinary shares issuable upon the exercise of outstanding stock options using the treasury stock method — 98,670,254 23,831,652 Ordinary shares issuable upon the vesting of outstanding restricted share units using the treasury stock method — 2,141,812 2,777,219 Weighted average number of ordinary shares outstanding - diluted 779,804,270 1,599,592,231 1,552,423,060 Net income (loss) per share attributable to ordinary shareholders - diluted (2.5525 ) 1.5436 1.5285

Short-term borrowings

Short-term borrowings	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Short-term borrowings	17. Short-term borrowings As of December 31, 2018 and 2019, the Company had short-term borrowings from banks which were repayable in one year and charged weighted average interest rate s 3.63% and , re s B of RMB25,000 and RMB235,000 are collateralized by a pledge of certain bank deposits with carrying values of RMB26,000 and RMB251,853, as of December 31, 2018 and 2019, respectively. As of December 31, 2019, the Company is in compliance with all covenants in relation to bank borrowings. As of December 31, 2019, all of the borrowings will be due within one year.

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	18. Leases The company leases facilities under non-cancellable (a) The following table sets forth the breakdown of leasing expenses: For the years ended 2019 RMB Lease cost: Amortization of right-of-use assets 44,190 Interest of lease liabilities 5,183 Expenses for short-term leases within 12 months 1,499 Total lease cost 50,872 (b) The following table sets forth the supplemental cash flow information related to leases: For the years ended 2019 RMB Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating lease payments 51,370 (c) The following table sets forth the weighted-average remaining lease term and discount rate: As of December 31, 2019 Weighted-average remaining lease term Operating leases 2.46 years Weighted-average discount rate Operating leases 4.75 % (d) The following table sets forth the maturities of lease liabilities: For the years ended 2019 RMB 2020 45,174 2021 40,688 2022 15,285 2023 640 Total undiscounted lease payments 101,787 Less: imputed interest (16,644 ) Total lease liabilities 85,143 (e) The following table sets forth the non-cancellable future minimum lease payments for the Group’s operating leases under the previous lease standard (“ASC Topic 840”) as of December 31, 2018: As of December 31, 2018 RMB 2019 58,406 2020 45,077 2021 40,221 2022 14,826 Thereafter 640 Total 159,170

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	19. Commitments and contingencies (a) Capital and other commitments Other than mentioned in Note 5 (b) Contingencies i) VIE Arrangements From time to time, the Group is involved in claims and legal proceedings that arise in the ordinary course of business. Based on currently available information, management does not believe that the ultimate outcome of these unresolved matters, individually and in the aggregate, is likely to have a material adverse effect on the Group’s financial position, results of operations or cash flows. However, litigation is subject to inherent uncertainties and the Group’s view of these matters may change in the future. If an unfavorable outcome were to occur, there exists the possibility of a material adverse impact on the Group’s financial position, results of operations and cash flows for the periods in which the unfavorable outcome occurs. The Group accounts for loss contingencies in accordance with ASC Topic 450 “Contingencies” and other related guidance. Set forth below is a description of certain loss contingencies as well as the opinion of management as to the likelihood of loss. Current PRC laws and regulations include limitations on foreign ownership in PRC companies that conduct online business. Specifically, foreign investors are not allowed to own any equity interests in any entity conducting online business. Since the Company is incorporated in the Cayman Islands, neither the Company nor its PRC subsidiary is eligible to conduct online business in China. To comply with PRC laws and regulations, the Company conducts its operations in China through a series of contractual arrangements entered into among its wholly owned PRC subsidiaries, the WOFEs, its affiliated PRC entities, the VIEs and the VIEs’ shareholders. The VIEs and their subsidiaries hold the licenses that are essential to the operation of the Group’s business. In the opinion of management and the Company’s PRC legal counsel, (i) the ownership structure of the Company, the WOFE and the VIEs are in compliance with existing PRC laws and regulations;(ii) the contractual arrangements with the VIEs and their shareholders are valid and binding, and will not result in any violation of PRC laws or regulations currently in effect; and (iii) the Group’s business operations are in compliance with existing PRC laws and regulations in all material respects. However, there are substantial uncertainties regarding the interpretation and application of current and future PRC laws and regulations. Accordingly, the Company cannot be assured that PRC regulatory authorities will not ultimately take a contrary view to its opinion. If the current ownership structure of the Company and its contractual arrangements with the VIEs were found to be in violation of any existing or future PRC laws and regulations, the Company may be required to restructure its ownership structure and operations in the PRC to comply with the changing and new PRC laws and regulations. Under PRC Ministry of Commerce (“MOFCOM”) security review rules promulgated in September 2011, a national security review is required for certain mergers and acquisitions by foreign investors raising concerns regarding national defense and security. Foreign investors are prohibited from circumventing the national security review requirements by structuring transactions through proxies, trusts, indirect investment, leases, loans, control through contractual arrangements, or offshore transactions. Management, in conjunction with its PRC legal counsel, has concluded there is no need to submit the existing contractual arrangements with its consolidated VIEs and its shareholders to the MOFCOM for national security review based upon analysis of the rules. However, there are substantial uncertainties regarding the interpretation and application of the MOFCOM security review rules, and any new laws, rules, regulations or detailed implementation measures in any form relating to such rules. Therefore, the Company cannot be assured that the relevant PRC regulatory authorities, such as the MOFCOM, would not ultimately take a contrary view to the opinion of management and the Company’s PRC legal counsel. If the MOFCOM or other PRC regulatory authority determines that the Company needs to submit the existing contractual arrangements with the VIEs and its shareholders for national security review, the Company may face sanctions by the MOFCOM or other PRC regulatory authority, which may include, among others, requiring the Company to restructure its ownership structure, discontinuation or restriction of operations in the PRC, or invalidation of the agreements that the VIEs have entered into with the VIEs and its shareholders. In such case, the Company may not be able to operate or control business in the same manner as it currently does, and therefore, may not be able to consolidate the VIEs and their subsidiaries. In addition, the relevant regulatory authorities would have broad discretion in dealing with such violations which may adversely impact the financial statements, operations and cash flows of the Company (including restrictions on the Company to carry out business). i) VIE Arrangements (continued) If the VIEs and their respective shareholders fail to perform their respective obligations under the current contractual arrangements, the Company may have to incur substantial costs and expend significant resources to enforce those arrangements and rely on legal remedies under PRC laws. The PRC laws, rules and regulations are relatively new, and because of the limited volume of published decisions and their non-binding ii) VIE Arrangements In the opinion of management, the likelihood of loss in respect of the Company’s current ownership structure or the contractual arrangements with the VIEs is remote. In accordance with the Interim Measures on Administration of Business Activities of Online Lending Information Intermediaries (Interim Measures) jointly issued by China Banking Regulatory Commission, or the CBRC, together with three other PRC regulatory agencies in August, 2016, a record-filing and licensing regime is introduced. It requires online lending information intermediaries to register with the local financial regulatory authority, update their industrial and commercial registration with the local commercial registration authority to include “online lending information intermediary” in their business scope, and obtain telecommunication business license from the relevant telecommunication regulatory authority. As of the date of this report, the local financial regulatory authorities are still in the process of making detailed implementation rules regarding the filing procedures and the Company has not been permitted to submit such filing application. iii) Class Action Starting in September 2018, the Company and certain of its current and former officers and directors, the underwriters of the Company’s initial public offering in November 2017, and the Company’s agent for the service of process in the U.S. have been named as defendants in putative securities class actions captioned Yizhong Huang v. FinVolution Group, et al., Case No. 654482/2018 (New York County of the Supreme Court of the State of New York, filed on September 10, 2018) (the “Huang Case”); Ravindra Vora v. FinVolution Group, et al., Case No. 654777/2018 (New York County of the Supreme Court of the State of New York, filed on September 27, 2018) (the “Vora Case”); Lai v. FinVolution Group, et al. Case No. 1:2018-cv-06716 2:2019-cv-00168 These actions allege that defendants made misstatements and omissions in connection with the Company’s initial public offering in November 2017 in violation of the Securities Act of 1933. The Lai Case also advances claims under the Securities Exchange Act of 1934. On October 16, 2018, the Supreme Court of the State of New York consolidated the two state court lawsuits (the Huang Case and the Vora Case) under the caption In re PPDAI Group Securities Litigation, No. 654482/2018 (the “New York State Action”). On December 17, 2018, the plaintiffs in the New York State Action filed a consolidated amended complaint, which the Company and certain other defendants moved to dismiss. On July 31, 2019, the Company and certain other defendants filed a motion to dismiss the New York State Action. On February 26, 2020, the Court in the New York State Action granted in part and denied in part the motion to dismiss. The Company and certain other defendants have appealed the partial denial of their motion, and that appeal is in the process of being briefed. On February 21, 2019, the U.S. District Court for the Eastern District of New York consolidated the two federal court lawsuits (the Lai Case and the Goyal Case) under the caption In re PPDAI Group Inc. Securities Litigation, No. 18-cv-6716-FB-JO (the “Federal Court Action”), appointed lead plaintiffs of the Federal Court Action, and approved a scheduling stipulation for the filing of the plaintiffs’ amended complaint and the defendants’ responsive pleadings. On April 22, 2019, plaintiffs in the Federal Court Action filed a second amended complaint. Defendants filed a motion to dismiss the Federal Court Action, which was fully briefed as of January 17, 2020, and remains pending. As such, the Company is currently not in a position to estimate the possible loss or possible range of loss, if any, associated with the resolution of the lawsuits.

Restricted net assets

Restricted net assets	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Restricted net assets	2 0 Relevant PRC laws and regulations permit PRC companies to pay dividends only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. Additionally, the Company’s PRC subsidiaries can only distribute dividends upon approval of the shareholders after they have met the PRC requirements for appropriation to statutory reserves. The statutory general reserve fund requires annual appropriations of 10% of net after-tax 9

Condensed financial information

Condensed financial information of the parent company	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed financial information of the parent company	2 1 The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X 4-08 The subsidiaries did not pay any dividend to the Company for the year s The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2018 and 2019. As of December 31, 2018 2019 RMB RMB US$ Note2(f) Assets Cash and cash equivalents 461,054 157,143 22,572 Prepaid expenses and other assets 4,798 4,443 638 Investment in and advances to subsidiaries 5,476,363 8,223,441 1,181,220 Total assets 5,942,215 8,385,027 1,204,430 Liabilities and Shareholders’ Equity Accrued expenses and other liabilities 18,333 437,071 62,781 Total liabilities 18,333 437,071 62,781 Shareholders’ equity : Class A ordinary shares (US$0.00001 par value; 58 64 9 Class B ordinary shares (US$0.00001 par value; 44 39 6 Additional paid-in 5,896,017 5,640,898 810,265 Treasury stock (46,301,000 and 20,634,265 shares as of December 31, 2018 and 2019, respectively) (332,121 ) (47,174 ) (6,777 ) Statutory reserves 256,006 317,198 45,563 Accumulated other comprehensive income 58,210 70,320 10,097 Retained earnings 45,668 1,966,611 282,486 Total shareholders’ equity 5,923,882 7,947,956 1,141,649 Total liabilities and shareholders’ equity 5,942,215 8,385,027 1,204,430 Statements of comprehensive loss For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB US$ Note 2(f) Operating expenses Sales and marketing expenses — (2 ) — — General and administrative expenses (71,189 ) (57,448 ) (25,590 ) (3,675 ) Profits from operations — Other income, net 2,515 21,183 7,898 1,133 Share of profit of subsidiaries 1,151,657 2,505,341 2,390,542 343,380 Net profit 1,082,983 2,469,074 2,372,850 340,838 Accretion on Series A convertible redeemable preferred shares to redemption (1,237,274 ) — — — Accretion on Series B convertible redeemable preferred shares to redemption value (905,861 ) — — — Accretion on Series C convertible redeemable preferred shares to redemption value (930,336 ) — — — Net profit (loss) attributable to ordinary shareholders (1,990,488 ) 2,469,074 2,372,850 340,838 Statements of cash flows For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB US$ Note 2(f) Net cash provided by (used in) operating activities (12,178 ) 12,111 8,474 1,217 Net cash used in investing activities (720,259 ) (69,660 ) 86,471 12,421 Net cash provided by (used in) financing activities 1,677,222 (438,253 ) (401,400 ) (57,658 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash (13,447 ) 22,098 2,544 366 Net increase (decrease) in cash, cash equivalents and restricted cash 931,338 (473,704 ) (303,911 ) (43,654 ) Cash, cash equivalents and restricted cash-beginning of year 3,420 934,758 461,054 66,226 Cash, cash equivalents and restricted cash-end 934,758 461,054 157,143 22,572

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent events	22. Subsequent events On March 19, 2020, the Board of Directors of the Company unanimously approved a cash dividend of US$ 0.12 per ADS, payable around April 30, 2020 April 7, 2020 In early 2020, in response to intensifying efforts to contain the spread of COVID-19, the Chinese government took a number of actions, which included extending the Chinese New Year holiday, quarantining and otherwise treating individuals in China who had the COVID-19, asking China residents to remain at home and to avoid gathering in public, and other actions. The COVID-19 has also resulted in temporary closure of many corporate offices, retail stores, and manufacturing facilities and factories across China. In respond to the pandemic, the Company also made remote working arrangement and suspended the Company’s offline customer acquisition activities and business travels to ensure the safety and health of the Company’s employees. All of the above measures reduce the Company’s business operation capacity and negatively affect its operating results. The outbreak of COVID-19 also cause an increase in default of the loans on the Company’s platform as the extension of the Chinese New Year holiday and suspension of business activities across various sectors are likely to hurt income of the borrowers on the Company’s platform. As a result, the provision for loan receivable, accounts receivable and quality assurance payable increased which negatively impacted the Company’s earnings in the first quarter of 2020. If the outbreak drags on for longer, the private enterprises, especially SMEs, could also start to encounter cash flow or operating difficulties, thus leading to a rise in unemployment and weakening debt repayment ability of borrowers on the Company’s platform. As a result of the sharp slowdown in consumption activities, especially in leisure spending or outdoor entertainment, the growth of the Company’s loan volume also slowdown in the first quarter of 2020 due to a weaker loan demand, which negatively impacted the Company’s revenue for the three months ended March 31, 2020.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The Group’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and related disclosures. Actual results may differ from those estimates.
Principle of consolidation	(b) Principle of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries, which include the WOFEs and consolidated VIEs, for which the Company is the ultimate primary beneficiary. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. Consolidated VIEs are entities in which the WOFEs through their respective contractual arrangements, bear the risks of, and enjoy the rewards normally associated with, ownership of the entities, and therefore the Company is the primary beneficiary of these entities. All transactions and balances among the Company, its subsidiaries, the VIEs and the VIEs’ subsidiaries have been eliminated upon consolidation. Details of the typical structure of the Company’s significant VIEs are set forth below: i) VIE Agreements that give the Company effective control of VIEs Business Operation Agreement Pursuant to the relevant business operation agreements, the shareholders of the VIEs agree that to the extent permitted by law, they will accept and unconditionally execute the WOFEs’ instructions on business operations, such as appointment of directors and executive officers. They further agree that, without the WOFEs’ prior written consent, the VIEs will not take any action that may have material adverse effects on their assets, businesses, human resources, rights, obligations, or business operations. The shareholders of the VIEs agree to transfer any dividends or other similar income or interests they receive as the shareholders of the VIEs, if any, immediately and unconditionally to the WOFEs. This agreement also requires each of the shareholders of the VIEs to issue an irrevocable power of attorney authorizing the WOFEs or any person(s) designated by the WOFEs to execute shareholders’ rights on behalf of such shareholder. Unless the WOFEs terminate this agreement in advance, the agreement will remain effective until the VIEs are dissolved pursuant to PRC law. Power of Attorney Pursuant to each power of attorney, each shareholder of the VIEs have irrevocably appointed the WOFEs or any persons designated by the WOFEs to act as such shareholder’s attorney-in-fact Exclusive Option Agreement Pursuant to the exclusive option agreements, the Nominee Shareholders of the VIEs granted the WOFEs or any third party designated by the WOFEs the exclusive and irrevocable right to purchase from the Nominee Shareholders, to the extent permitted by PRC law and regulations, all or part of its respective equity interests in the VIEs for a purchase price equal to the registered capital. The Nominee Shareholders will then return the purchase price to the WOFEs or any third party designated by the WOFEs after the option is exercised. The WOFEs may transfer all or part of its option to a third party at its own option. The VIEs and the Nominee Shareholders agree that without prior written consent of the WOFEs, they may not transfer or otherwise dispose the equity interests or declare any dividend. The exclusive option agreement will remain effective until the WOFEs or any third party designated by the WOFEs acquire all equity interest of the VIEs. i) VIE Agreements that give the Company effective control of VIEs (continued) Equity Pledge Agreement Pursuant to relevant equity pledge agreements, each shareholder of the VIEs has pledged all of his or her equity interest held in the VIEs to the WOFEs to guarantee his or her obligations under the business operation agreement, the power of attorney, exclusive option agreement and the exclusive technology consulting and service agreement. In the event that the VIEs breach any obligations under these agreements, the WOFEs as the pledgee, will be entitled to request immediate disposal of the pledged equity interests and have priority to be compensated by the proceeds from the disposal of the pledged equity. The Nominee Shareholders may not dispose of the equity interests or create or permit any pledges which may have an adverse effect on the rights or benefits of the WOFEs without the prior written consent of the WOFEs. The relevant share pledge agreements will remain effective until the VIEs and its Nominee Shareholders discharge all of their obligations under the VIE Agreements and the pledgee consents such discharge in writing. ii) VIE Agreement Exclusive technology consulting and service agreement Pursuant to the exclusive technology consulting and service agreements, WOFEs have the exclusive right to provide the VIEs and their subsidiaries (as designated in the agreement) with technical support, consulting services and other services. The WOFEs shall exclusively own any intellectual property arising from the performance of the agreement. During the term of this agreement, the VIEs and their designated subsidiaries may not accept any services covered by this agreement provided by any third party. The VIEs and their designated subsidiaries agree to pay service fees equal to 100% of the net profit generated or otherwise determined by the WOFEs. Except by mutual agreement upon early termination by parties in writing, the exclusive business cooperation agreement will remain effective until the VIEs and their designated subsidiaries are dissolved in accordance with PRC law and regulation. Based on these contractual agreements, the Company believes that the VIEs as described above should be considered as VIEs because the equity holders do not have significant equity at risk nor do they have the characteristics of a controlling financial interest. Given that the Company, through the WOFEs, is the primary beneficiary of these VIEs, the Company believes that these VIEs should be consolidated based on the structure as described above. The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and their subsidiaries are eliminated in the balances presented below: As of December 31, 2018 2019 RMB RMB Cash and cash equivalents 752,102 2,025,233 Restricted cash 3,341,985 2,620,706 Short-term investments 1,574,090 — Account s 800,334 846,454 Quality assurance receivable 2,064,366 3,649,642 Property, equipment and software, net 104,802 103,444 Right of Use assets — 94,852 Loans and receivables, net of provision for loan losses — 36,344 Financial guarantee derivative assets 56,287 — Investments 1,147,569 2,306,831 Deferred tax assets 88,446 122,920 Contract assets 112,103 20,555 Prepaid expenses and other assets 167,817 1,290,996 Total assets 10,209,901 13,117,977 Payable to platform customers 905,034 684,630 Quality assurance payable 3,819,379 4,776,153 Payroll and welfare payable 129,809 115,540 Taxes payable 208,585 32,468 Short-term borrowings — 85,000 Contract liabilities 158,061 50,166 Deferred tax liabilities 78,268 47,117 Leasing liabilities — 84,284 Amounts 1,609,126 3,189,663 Accrued expenses and other liabilities 190,406 237,802 Total liabilities 7,098,668 9,302,823 For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Net revenue 3,900,454 4,250,978 4,684,436 Net profit 730,855 1,604,530 661,808 Net cash provided by operating activities 3,233,966 1,356,887 74,977 Net cash provided by (used in) investing activities (1,642,454 ) (1,031,968 ) 367,903 Net cash provided by (used in) financing activities (31,250 ) 1,043,899 108,972 Net increase in cash, cash equivalents and restricted cash 1,560,262 1,368,818 551,852 Cash, cash equivalents and restricted cash at beginning of year 1,165,007 2,725,269 4,094,087 Cash, cash equivalents and restricted cash at end of year 2,725,269 4,094,087 4,645,939 Under the VIE Arrangements, the Company has the power to direct activities of the VIEs and can have assets transferred out of the VIEs. Therefore, the Company considers that there is no asset in the VIEs that can be used only to settle obligations of the VIEs, except for registered capital and PRC statutory reserves, if any. As the VIEs are incorporated as limited liability company under the Company Law of the PRC, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the VIEs. Currently there is no contractual arrangement which requires the Company to provide additional financial support to the VIEs. However, as the Company conducts its businesses primarily based on the licenses and approvals held by the VIEs and their subsidiaries, the Company has provided and will continue to provide financial support to the VIEs.
Business combinations and noncontrolling interests	(c) Business combinations and noncontrolling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 “Business Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total costs of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated income statements. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. In a business combination achieved in stages, the Company re-measures re-measurement When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained noncontrolling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary. For the Company’s majority-owned subsidiaries and VIEs, a noncontrolling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Company. Consolidated net income (loss) on the consolidated income statements includes the net income (loss) attributable to noncontrolling interests and mezzanine equity holders when applicable. Net income (loss) attributable to mezzanine equity holders is included in net income (loss) attributable to noncontrolling interests on the consolidated income statements, while it is excluded from the consolidated statements of changes in shareholders’ equity. The cumulative results of operations attributable to noncontrolling interests, along with adjustments for share-based compensation expense arising from outstanding share-based awards relating to subsidiaries’ shares, are also recorded as noncontrolling interests in the Company’s consolidated balance sheets. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows.
Use of estimates	(d) Use of estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Financial statements amounts that reflect significant accounting estimates and assumptions include revenue recognition, fair value of quality assurance liabilities, valuation allowance for deferred tax assets, allowance for doubtful accounts, allowance for loan losses, determination of uncertain tax positions, accounting for convertible redeemable preferred shares, and valuation of share-based awards. Such accounting estimates are impacted significantly by judgements and assumptions used in the preparation of the Group’s consolidated financial statements, and actual results could differ materially from these estimates. Changes in estimates are recorded in the period they are identified.
Foreign currency and foreign currency translation	(e) Foreign currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The US$ is the functional currency of the Group’s entities incorporated in Cayman Islands and Hong Kong, and the RMB is the functional currency of the Group’s PRC subsidiaries. Transactions denominated in other than the functional currencies are re-measured re-measured The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses items are generally translated at the average exchange rates prevailing during the fiscal year. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders’ deficit on the consolidated financial statements. The exchange rates used for translation on December 31, 2018 and 2019 were US$1.00= RMB6.8632 and RMB6.9762, respectively, representing the index rates stipulated by the People’s Bank of China.
Convenience translation	(f) Convenience translation Translations of balances in the Group’s consolidated balance sheet, consolidated statement of operations and comprehensive income (loss) and consolidated statement of cash flows from RMB into US$ as of and for year ended December 31, 2019 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.9618, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 31, 2019. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2019, or at any other rate.
Significant risks and uncertainties	(g) Significant risks and uncertainties Risk of concentration As of December 31, 2018 and 2019, substantially all of the Group’s cash, term deposit and cash equivalents, restricted cash and short-term investments were held in major financial institutions located in the PRC and in Hong Kong, which management considers to be of high credit quality. Accounts receivable are generally unsecured and denominated in RMB, and are derived from revenues earned from operations arising primarily in the PRC. No individual customer accounted for more than 10% of net revenues for the years ended December 31, 2017, 2018 and 2019. No individual customer accounted for more than 10% of accounts receivable as of December 31, 2018 and 2019. Risk of uncertainties In October 2019, the China Banking and Insurance Regulatory Commission, together with eight other regulatory agencies jointly promulgated the Supplemental Rules to the Administration of Financing Guarantee Companies (“Circular 37”), which provides that any entity providing client referral or credit assessment services to the lending institutions may not provide financing guarantee services in a direct or a disguised form without the regulatory approval. If any entity operates financing guarantee business or provide financing guarantee services in a disguised form without appropriate approval, its business operations will be banned by the regulatory authorities and it will be required to properly settle existing business . Such entity might also subject to penalties including fines and confiscation of illegal gains if applicable. In the Group’s collaboration with institutional funding partners, the Group provides certain quality assurance commitment to attract and maintain the Group’s cooperation with institutional funding partners. Due to the lack of legal interpretation for financing guarantee in a disguised form, there is uncertainty related to whether these quality assurance commitment provided constitute a financing guarantee in a disguised form. If the quality assurance commitment provided by the Group were considered to be financing guarantee in a disguise form, the Group’s business, financial condition, results of operations and liquidity will be materially and adversely affected. In order to reduce the compliance risk under Circular 37, the Group incorporated a licensed financial guarantee company in late 2019, which, since its incorporation, provides direct guarantees for certain loans funded by the institutional funding partners to replace existing quality assurance commitment provided. The Group in the process of increasing its guarantee capability by obtaining additional financial guarantee licenses or increase the capital of its financial guarantee subsidiary to further reduce its risk of noncompliance.
Cash and cash equivalents	(h) Cash and cash equivalents Cash and cash equivalents represent cash on hand, demand deposits and highly liquid investments placed with banks or other financial institutions, which have original maturities less than three months.
Restricted cash	(i) Restricted cash Restricted cash represents: (i) Cash in quality assurance is cash managed by the Group through designated bank accounts and cash managed by China United SME Guarantee Corporation under the new quality assurance program. There is no other use of these funds except for making payments to investors for default loans that are subject to quality assurance protection. As of December 31, 2018 and 2019, the restricted cash related to quality assurance obligations were RMB2,414,449 and RM B (ii) Cash in investor reserve funds is cash managed by the Group through a designated bank account or third party payment company account. There is no other use of these funds except for payments to protect relevant investors from potential losses resulting from delinquent loans and or underperformance of the investment programs. As of December 31, 2018 and 2019, the restricted cash related to investor reserve funds amounted to RMB 17,971 RMB41,958, respectively. As of December 31, 2019, the underlying investment programs were all matured and the Group was in the process of settling the remaining balance in this account. (iii) Cash received from investors or borrowers that has not yet been disbursed, due to a settlement time lag. As of December 31, 2018 and 2019, the restricted cash related to cash not yet disbursed amounted to RMB 905,034 RMB684,630 (iv) Cash received via consolidated trusts that has not yet been distributed. As of December 31, 2018 and 2019, the restricted cash related to cash not yet distributed amounted to RMB 303,667 RMB799,646 , respectively. (v) Cash held as collateral for short-term borrowings of subsidiar ies 26,000 RMB251,853 , respectively. (vi) Cash held in escrow accounts that is jointly managed by the Group Group 10,436 RMB44,367, respectively. (vii) Cash held in designated account under the name of a subsidiary of the Group as a security deposit for an institutional funding partner. As of December 31, 2018 and 2019, the restricted cash related to security deposit amounted to Nil and RMB390,000.
Short-term Investments	(j) Short-term Investments Short-term investments mainly consist of investments in wealth management products. The wealth management products are certain deposits with variable interest rates or principal not guaranteed with certain financial institutions. Realized and unrealized gain related to the short-term investments is recorded as other income in the consolidated statements of comprehensive income. RMB35,516, RMB96,061 and RMB52,863 was recognized for the year s
Accounts receivable, contract assets and allowance for doubtful accounts	(k) Accounts receivable, contract assets and allowance for accounts receivable Accounts receivable is related to the facilitation and post-facilitation service in relation to loans facilitated by the Group. Contract assets represent the Group’s right to consideration in exchange for investment management services in relation to investment programs that the Company has transferred to the customer before payment is due. The Group only recognizes accounts receivable and contract assets to the extent that the Group believes it is probable that it will collect substantially all of the consideration to which it will be entitled to in exchange for the services transferred to the customer. Accounts receivable and contract assets is stated at the historical carrying amount net of write-offs and allowance for doubtful accounts. The Group establishes an allowance for doubtful accounts based on estimates, historical default experience and other factors surrounding the credit risk of borrowers. The Group evaluates and adjusts its allowance for accounts receivable and contract assets on a quarterly basis or more often as necessary. Accounts receivable and contract assets that are delinquent for 180 days or more are generally written off.
Investments	(l) Investments The Group has classified its investments into equity method investments and non-marketable equity investments. The Group applies equity method in accounting for its investments in entities in which the Group has the ability to exercise significant influence but does not have control and the investments are in either common stock or in-substance Non-marketable non-marketable The following As of December 31, 2018 2019 Equity method investments 81,000 96,622 Non-marketable 86,501 856,211 167,501 952,833 Equity method investments For the years ended December 31, 2017, 2018 and 2019, the Group completed the following significant investments which were accounted for as equity investments: In October 2018, the Group made investments in a private equity funds with the cash consideration of RMB50,000 and The Company accounted for these investments under equity methods. For the years ended December 31, 2017, 2018 and 2019, the Company also made several insignificant equity method investments ranging from RMB5,000 to RMB25,000. For the years ended 2017, 2018 and 2019, the Company disposed certain equity method investments for total consideration of nil, nil and RMB20,000, which results a gain of nil, nil, and RMB10,621 in other income, respectively. As of December 31, 2018 and 2019, the equity pick up adjustment made by the Group on the equity method investments are not material. For the year s Non-marketable equity investments For the years ended December 31, 2017, 2018 and 2019, the Group completed the following significant investments which were accounted for as non-marketable In December 2019, the Group acquired less than of i n a company in the fina ncial service indu s try of appr o ximately billion In July 2019, the Group acquired approximately 3.22% preferred share in Fansheng Limited for a cash consideration of USD4,370 or equivalent of RMB30,000 and accounted for it as non-marketable equity investment using measurement alternative. In April 2019, the Group acquired approximately 6.98% preferred share in Shanghai Zhan Lue data technology Co., Ltd. for a cash consideration of RMB30,000 and accounted for it as non-marketable equity investment using measurement alternative. In October 2018, the Group acquired approximately 5% preferred share in Shanghai Yi Yang automobile service Co., Ltd. for a cash consideration of RMB30,000 and accounted for it as non-marketable equity investment using measurement alternative. For the years ended 2017, 2018 and 2019, the Group also made several insignificant investments in non-marketable equity investments ranging from RMB209 to RMB13,952. For the years ended 2017, 2018 and 2019, the Company disposed certain non-marketable equity investments for total consideration of nil, nil and RMB1,508, which results a loss of nil, nil, and RMB7 in other income, respectively. As of December 31, 2018 and 2019, the amount of fair value change adjustment recognized for non-marketable equity investments were RMB77 and nil, respectively.
Fair value measurement	(m) Fair value measurement Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value include: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities. Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Group does not have any non-financial The Group’s financial instruments consist principally of cash and cash equivalents, restricted cash, short-term investments, quality assurance receivable, loans receivable, accounts receivable, contract assets, financial guarantee derivative, payable to platform customers, quality assurance payable, short-term borrowings and other liabilities. As of December 31, 2018 and 2019, the carrying values of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, payable to platform customers, short-term borrowings and other liabilities approximated their fair values reported in the consolidated balance sheets due to the short term maturities of these instruments. The quality assurance receivable is measured using the contractual amounts due from borrowers, taking into account an expected rate of default. Due to the short term nature of the contributions, no discount factor was applied. Subsequently, the carrying value approximates fair value due to the short term nature of the receivable. The quality assurance payable is measured by taking into account the expected payout rate and incorporating a markup margin. On a recurring basis, the Group measures its short-term investments, financial guarantee derivative and non-marketable equity investments at fair value. Since financial guarantee derivative and non-marketable equity investments do not have quoted price in active markets, they are valued using valuation model. Management is responsible for determining the fair value. The following table sets forth the Group’s assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: December 31, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair value RMB RMB RMB RMB Assets Short-term investments —wealth management products — 1,694,660 — 1,694,660 Investments —non-marketable — — 86,501 86,501 Financial guarantee derivative assets — — 56,287 56,287 Total Assets — 1,694,660 142,788 1,837,448 December 31, 2019 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair value RMB RMB RMB RMB Assets Short-term investments —wealth management products — 114,560 — 114,560 Investments —non-marketable — — 856,211 856,211 Total Assets — 114,560 856,211 970,771 The Group values its wealth management products held in certain bank accounts using quoted rate of return or quoted subscription/redemption prices published by the banks for these products, and accordingly, the Group classifies wealth management products as Level 2 within the fair value hierarchy based on the nature of the fair value inputs. The non-marketable equity investments are accounted for under the measurement alternative and therefore are classified as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. The Company did not transfer any assets or liabilities in or out of level 3 during the years ended December 31, 2018 and 2019. Changes in fair value measurement categorized within Level 3 of the fair value hierarchy are analyzed each period for changes in estimates or assumptions. Level 3 Valuation Techniques Level 3 financial assets and liabilities consist of financial guarantee derivatives and non-marketable Non-marketable non-marketable start-up non-marketable 0 The Group uses the discounted cash flow model to value financial guarantee derivatives at inception and subsequent valuation dates. The Group analyzes the fair value of this derivative by first defining the cash flows associated with the derivative and then considers the assumptions used in determining the cash flows from a market participant’s perspective. This discounted cash flow model incorporates assumptions such as the expected default rates, discount rates, as well as early repayment rates. The expected default rate is determined based on the historical performance of loans with similar tenure and of similar credit worthiness and adjusted by the inputs that other market participants would use. Aside from the expected default rate, the Group has also considered the discount rate and early repayment rate in determining the fair value of the financial guarantee derivatives. As the term of the loans are short and the market interest rate is relatively stable, the discount rate and early repayment rate assumptions does not have a significant impact on the fair value of the derivative. Changes in the fair value are recorded in fair value change of financial guarantee derivatives in the Group’s consolidated statements of Comprehensive Income (Loss). The following table sets forth the significant unobservable inputs used for fair value measurement of financial guarantee derivatives: As of December 31, 2018 2019 Expected default rate 0.46% - N/A Please refer to Note 2(t) for the movement and gain of financial guarantee contracts and related derivatives. The following table sets forth the movement of non-marketable investments measured using Level 3 valuation techniques: For the years ended 2018 2019 Opening balance — 86,501 Purchase of non-marketable investments 86,578 771,218 Disposal of non-marketable investments — (1,508 ) Fair value change (77 ) — Ending balance 86,501 856,211
Loans receivable, net
Interest income and interest expense related to the loans originated by the Group	Interest on loans receivable is accrued based on the contractual interest rates of the loan as earned. Accrual of interest is generally discontinued when reasonable doubt exists as to the full, timely collection of interest or principal. When a loan is discontinued from interest accrual, the Group stops accruing interest and reverses all accrued but unpaid interest as of such date. As the primary beneficiary of the trusts, the Group incorporated the trust plans and recorded return of the other trust parties into interest expense. The interest expense is accrued based on the expected rate of return during the contractual term of the alternative investment products and the trusts. The net recor ded For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Interest income 46,975 316,193 1,342,289 Less: Interest expense (15,598 ) (60,085 ) (235,620 ) Net interest income 31,377 256,108 1,106,669
Property and equipment, net	( o Property and equipment are stated at cost less accumulated depreciation and amortization. Property and equipment are depreciated over the estimated useful lives of the assets using the straight-line method taking into account the estimated residual value, if any. The following Category Estimated useful life Residual value Office furniture and equipment 3 5 years 5% Computer and electronic equipment 3 5 years 5% Leasehold improvements shorter of remaining lease period or estimated useful life Nil Software 1 5 years Nil Expenditures for maintenance and repairs are expensed as incurred. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation amortization are removed from the accounts and any resulting gain or loss is recognized in consolidated statement of comprehensive income.
Intangible assets	( p As of December 31, 2019, the intangible assets held by the Group includes micro-lending license, factoring license, financial leasing license and financing guarantee license which have indefinite useful life. The Group evaluates these indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset is tested for impairment.
Goodwill	( q Goodwill represents the excess of the purchase consideration over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries and VIEs. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step In performing the two-step
Impairment of long-lived assets other than goodwill	( r The Group evaluates its long-lived assets other than goodwill and intangible assets with indefinite useful life for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparison of the carrying amounts to the expected future undiscounted cash flows attributable to these assets. If it is determined that an asset is not recoverable, an impairment loss is recorded in the amount by which the carrying amount of the assets exceeds the expected discounted cash flows arising from those assets. Impairment losses of long-lived assets related to intangible assets recognized for the years ended December 31, 2017, 2018 and 2019 were nil, nil and RMB4,600.
Guarantee and quality assurance fund payable and receivable	( s Borrowers may elect to, or in certain circumstances, are required to make contributions to the quality assurance fund, in addition to the transaction service fee and payments of loan principal and interest. The quality assurance fund is maintained in a segregated restricted cash bank account. This contribution, which is a certain percentage of the principal amount, is determined at the time of the loan application based on the borrower’s credit score. The contribution does not change over time after the loan is matched and must be paid in its entirety even if the loan is pre-paid. The Group is required to record its quality assurance obligation associated with the quality assurance commitment provided to institutional funding partners and quality assurance fund in accordance with ASC Topic 460, Guarantees. Accordingly, the liabilities are measured at their fair value at inception. For guarantee and quality assurance arrangement, default payments to investors are capped at the quality assurance balance at any point in time. The Group is not obligated to pay default loans in the event no funds are available in the quality assurance account. Once the investors are paid for a borrower’s default, any future principal and interests recovered are contributed into the quality assurance account. For quality assurance commitment provided to institutional funding partners, default payments are not capped and the Group is obligated to compensate the institutional funding partners in the event of any default. The quality assurance obligations are comprised of two components: (i) ASC Topic 460 component; and (ii) ASC Topic 450 component. In accordance with ASC 460-10-25-2 460-10-30-3, non-contingent Subsequent to initial recognition, the quality assurances obligations are measured at the greater of the amount determined based on ASC Topic 460 and the amount determined based on ASC Topic 450. ASC Topic 460 does not prescribe a method for subsequently measuring and recording the non-contingent 460-10-35-1, As the risk of the guarantee liability is reduced, it is recognized into the income statement by a systematic and rational amortization method, e.g. over the term of the loan, within the “gain from the quality assurance” line item of the income statement. For the years ended December 31, 2017, 2018 and 2019, the amount of gains recorded were RMB5.9 million, RMB510.9 million and RMB98.4 million (US$14.1 million), respectively. A quality assurance receivable is recognized at loan inception at its fair value on a loan-by-loan On a loan-by-loan up-to-date. Individual investors who invested in loans for which the borrower elected to participate in the quality assurance bear their own financial risk and may suffer a loss if the restricted cash balance plus the subsequent quality assurance contributions are exhausted by quality assurance payments which are made on a first-loss basis. Payouts from the quality assurance account are made to investors when a borrower delinquent in repaying an installment of principal and interest in the order of default date until the restricted cash balance is reduced to nil, even though there may still be investors protected by quality assurance. Amounts recovered from the defaulted borrower will be remitted to replenish the portion of the quality assurance fund used to repay the investors. The following table sets forth the Group’s quality assurance obligations movement activities for the years ended December 31, 2017, 2018 and 2019: For the years ended December 31, 2017 2018 2019 Opening balance 473,704 2,062,844 3,819,379 Fair value of newly written guarantee and quality assurance obligation 3,318,432 5,313,489 6,156,826 Release of guarantee and quality assurance payable upon repayment (2,506,141 ) (4,049,457 ) (6,718,809 ) Contingent liability 2,527,209 3,380,930 6,409,884 Payouts during the year (4,812,797 ) (7,889,277 ) (12,299,134 ) Recoveries during the year 3,062,437 5,000,850 7,408,007 Ending balance 2,062,844 3,819,379 4,776,153 The following table sets forth the Group’s quality assurance receivables movement activities for the years ended December 31, 2017, 2018 and 2019: For the years ended December 31, 2017 2018 2019 Opening balance 286,812 1,152,769 2,064,366 Fair value of newly written guarantee and quality assurance obligation 3,318,432 5,313,489 6,156,826 Guarantee fee and quality assurance obligation contribution received from borrowers (2,479,428 ) (4,244,259 ) (6,070,412 ) Gain (loss) from quality assurance 26,953 (157,633 ) (210,520 ) Fair value of early repaid investment program * — — 1,709,382 Ending balance 1,152,769 2,064,366 3,649,642 * Since November 2019, th e
Financial guarantee derivative	( t For investors who invest in loans without the quality assurance through certain Investment Programs (Note 2( w Similar to the quality assurance, the Group maintains a separate dedicated restricted cash account for each of these investment programs. Such funds are maintained solely for the benefit of the investors who invested in loans through the Investment Programs. In general, the investor reserve fund covers underperformance to the extent there are available funds, i.e., it protects investors from not only loan defaults, but also an investment program performing below its stated expected rate of return, which may be due to either a decline in market interest rates during the program’s term, or an inability to timely match repayments with new loans. Payouts will be made from the corresponding investor reserve funds to make up the gap between the actual return and the stated expected rate of return. The capital used for investment purposes in such programs is generated with the cash flows from the borrowers’ monthly repayments of principal and interest. The investor reserve funds are maintained separately and are used to compensate investors in the event of a program’s underperformance. The investor reserve funds are funded upon a program’s maturity, and are capped at a certain percentage of the total funding of each investment program. If an individual investment program underperforms, the Group will use the investor reserve fund to make up for the shortfall, which is paid out upon maturity of the program. An investor who participates in this program is entitled to coverage by the investor reserve fund for the duration he or she participates in the program . In order to determine the accounting method used, the Group considered the criteria of the scope exception under ASC 815-10-15-58. non-payment back-to-back 815-10-15-58(a) Derivative assets and liabilities within the scope of ASC Topic 815 are required to be recorded at fair value at inception and re-measured If there are changes to the expected defaults of loans and expected performance of the investment programs, the Group records these resulting adjustments to the “fair value change of financial guarantee derivatives” line item within “other income (expense)” on the consolidated statement of comprehensive income. Upon the maturity of an investment program, any cumulative gain or loss will be reclassified to the “realized gain or loss from financial guarantee derivatives” line item within “other income (expense).” That is, whenever cash flows occur upon maturity, the fair value changes are reclassified within the income statement and recorded as realized gain or loss. In October 2017, along with the termination of investment program with flexible investment periods, the remaining restricted cash amounting to approximately RMB45,567 were transferred from restricted cash to cash and cash equivalents, as the C The following table sets forth the Group’s financial guarantee derivative movement activities for the years ended December 31, 2017, 2018 and 2019. For the years ended December 31, 2017 2018 2019 Opening balance 167,291 (215,770 ) 56,287 Initial recognition of and change in fair value of ongoing investor reserve arrangements (213,958 ) 114,813 (24,843 ) Settlement upon maturity of investor reserve arrangements (169,103 ) 157,244 (31,444 ) Ending balance (215,770 ) 56,287 — In December 2017, due to the deterioration of performance of investor reserve fund investment programs, the Group reversed all the gains recorded historically amounting to RMB213,958 and additional provision outside the Group’s contractual obligation related to the investor reserve fund amounting to RMB107,660 was recognized as a reduction of revenue. In 2018, the Group experienced improved loan performance and a reversal amounting to RMB68,619 was recognized in revenue. Please refer to Note 2( u
Revenue recognition	(u) Revenue recognition The Group engages primarily in operating an online consumer finance platform which matches borrowers with both individual investors, institutional funding partners and assisting facilitation of loans to investors on certain third-party online platforms (collectively referred to as “investors”). The Group determines that it is not the legal lender and legal borrower in the above process. Therefore, the Group does not record loan receivable and payable arising from the loans between investors and borrowers on its balance sheets. Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Group’s activities and is recorded net of value-added tax (“VAT”). On January 1, 2018, the Company adopted the revenue standard using the modified retrospective transition method to those contracts which were not completed as of January 1, 2018. Results for periods beginning after January 1, 2018 are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with historic accounting under ASC Topic 605. Upon initial adoption, the Group recognized the cumulative effect of initially applying the revenue standard as an increase of approximately RMB176.5 million, net of tax, to the opening balances of retained earnings. These adjustments primarily arose from the timing of revenue recognition for transaction service The following table sets forth the impact to the consolidated statement of comprehensive income for the years ended December 31, 2018 as a result of adoption of ASC Topic 606. For the years ended December 31, 2018 As reported Amounts without Effect of Loan facilitation service fees 2,919,234 2,141,565 777,669 Post-facilitation service fees 922,797 773,116 149,681 Other Revenue 376,915 793,188 (416,273 ) 4,218,946 3,707,869 511,077 Revenue recognition policies for each type of services under ASC Topic 606 are discussed as follows: Revenue from Single Loans In accordance with a series contracts entered into among the borrowers, investors (either individual or institutional funding partners) and the Group, the Group generally provides the following services to the borrowers and investors: • The Group operates a platform that enables borrowers and investors to exchange information; • The Group collects information from borrowers, conduct credit assessment and match borrowers with investors; • Once borrowers and investors are matched, the Group is responsible for collect and transfer funds between borrowers and investors; • The Group will also provide investors with collection services upon borrowers’ default; • Borrowers are obligated to pay the Group a monthly transaction service service • If a loan is subject to the protection of the quality assurance program which provides a protection mechanism to investors who subscribe to these loans, borrowers are obligated to pay a monthly quality assurance contribution on top of the principle, interest and transaction service • In the event of prepayment, the borrowers are also obligated to pay the outstanding unpaid transaction service • If the investor is an institutional funding partner, the Group provides quality assurance commitment as credit enhancement. The Group determines its customers to be both investors and borrowers. Starting from 2018, the Group charges the transaction service The transaction price allocated to loan facilitation is recognized as revenue upon execution of loan agreements between investors and borrowers; the consideration allocated to post-facilitation services is recognized over the period of the loan on a straight line method, which approximates the pattern of when the underlying services are performed. In additional to transaction servi ce Revenue from Investment Programs For investment programs that only fund loans protected by the quality assurance, the loan transaction service The Group stopped offering investment program in 2019 as a result of regulatory requirements to stop P2P business. As of December 31, 2019, the remaining outstanding investment programs typically mature within a year. Incentives To expand its market presence, attract new investors and increase activity level on our platform, the Group will occasionally provide incentives to potential investors at its sole discretion. The Group provides the following types of incentives: • When a loan is successfully matched during the relevant incentive program period, the investor receives a cash incentive, either provided upfront as a one-time • In certain other circumstances, the Group may provide a cash incentive to a new potential investor upon signing up as a new user on the platform, without a requirement for the potential investor to fund a loan. This is considered a type of marketing expense to attract potential investors to the platform, and is recorded as expense, rather than a reduction of transaction price. Other revenue Other than the collection fees charged for certain loans and investment management fee for investment programs, other revenue primarily includes borrower referral fees. The Group refers borrowers that do not meet the Group’s risk appetite to other lending platforms, and charges a referral fee based on the loan origination volume, cost per-click or other performance based criteria. Such fee is recognized as other revenue upon loan origination, each click or other performance obligation is satisfied. Revenue disaggregation analysis The following table set s For the year ended December 31, 2018 2019 With quality Without quality With quality Without quality Loan facilitation service fees 2,404,178 515,056 2,984,063 326,812 Post-facilitation service fees 678,518 244,279 1,096,660 103,713 Other revenue - investment management fee 208,471 — 109,423 — - borrowers referral fee — 96,167 — 130,677 - others 54,734 17,543 37,949 66,791 Changes in expected discretionary payment to IRF investors — 68,619 — — 3,345,901 941,664 4,228,095 627,993 Interest income is not included in the table above as it is not accounted for under ASC Topic 606. Contract balances Contract assets represent the Group’s right to consideration in exchange for facilitation and post-facilitation service that the Company has transferred to the customer before payment is due. Contract liabilities represent the Group’s obligation to transfer facilitation and post-facilitation service to the customer due to received payment. The timing of revenue recognition, scheduled payments, and cash collections results in contract assets and contract liability. Practical expedient and exemptions The Group generally expenses sales commission when incurred for loans with a term for one year or less. These costs are recorded within sales and marketing expenses. The Group does not disclose the value of unsatisfied performance obligation as most of the loans facilitated through its platform with an original term of one year or less. Expected discretionary payment to investor reserve fund investors In relation to investor reserve fund, the Group records approximately RMB107,660 as of December 31, 2017 in provision for expected discretionary payment to investors in investment programs protected by investor reserve fund investor as a reduction of revenue as such compensation is deemed beyond its legal obligations. For the year ended December 31, 2018, the Group made in total RMB39,041 payment under such provision. As of December 31, 2018, considering the improved loan performance observed and decrease in expected default rate for remaining IRF investment programs, the Group reversed the provision amounting to RMB68,619 . Revenue Recognition Under ASC Topic 605 Consistent with the criteria of ASC 605 “Revenue Recognition” (“ASC 605”), the Group recognizes revenue when the following four revenue recognition criteria are met: (i) Persuasive evidence of an arrangement exists; (ii) Delivery has occurred or services have been provided; (iii) The selling price is fixed or determinable; and, (iv) Collectability is reasonably assured. Revenue recognition policies for each type of service are discussed as follows: Revenue from Single Loans The Group charges fees at the inception of the loan, which are deducted from the amount that borrowers receive from investors, for facilitating loan origination (covering matching of investors to borrowers and facilitating the execution of loan agreement between investors and borrowers) and for providing ongoing monthly services (covering cash processing services and collection services) (“non-contingent The Group considers the loan facilitation services and post-facilitation services as multiple deliverable arrangements. Although the Group does not sell these services separately, the Group determined that all deliverables have standalone value. Thus, all non-contingent non-contingent non-contingent service service non-contingent, In December 2017, to comply with a series of regulatory requirements, the Group discontinued upfront fee collection. Instead, the transaction service 605-30-5, service In addition to the loan transaction servi c . Revenue Recognition Under ASC Topic 605 (continued) Revenue from Single Loans (continued) Under certain circumstances, in addition to the loan transaction service Revenue from Investment Programs For investment programs that only fund loans that are protected by the quality assurance fund, the loan transaction service fee and monthly contribution to the quality assurance fund paid by the borrowers are the same as those discussed under “Revenue from Single Loans” above. In addition, under this type of investment program, if there is any surplus gain, i.e., the actual rate of return exceeds the stated expected rate of return in the investment program agreement, this is recognized as an investment program management fee in other revenue upon maturity of such program, when the amount becomes fixed and determinable. Incentives To expand its market presence, attract new investors and increase activity level on our platform, the Group will occasionally provide incentives to potential investors at its sole discretion. The Group provides the following types of incentives: • When a loan is successfully matched during the relevant incentive program period, the investor receives a cash incentive, either provided upfront as a one-time 605-50. • In certain other circumstances, the Group may provide a cash incentive to a new potential investor upon signing up as a new user on the platform, without a requirement for the potential investor to fund a loan. This is considered a type of marketing expense to attract potential investors to the platform, and is recorded as expense, rather than a reduction of revenue. Other revenue Other revenue includes collection fees charged to borrowers, management fees charged to investors for certain investment programs, service fees charged to borrowers for transfer of loans on the secondary loan market and other fees charged to our customers.
Origination and servicing expenses	( v Origination and servicing expenses primarily consist of salaries and benefits of employees who facilitate loan origination, perform risk pricing, debt-collection service, customer service, data processing and data analysis. Origination and servicing expenses-related party consist of expenses for data collection service provided by PPcredit, a related party of the Group. (See Note 11)
Sales and marketing expenses	( w Sales and marketing expenses consist primarily of advertising and online marketing promotion expenses. Advertising and online marketing expenses, amounting to approximately RMB779,737, RMB702,508 and RMB 710,203
General and administrative expenses	(x) General and administrative expenses General and administrative expenses consist primarily of salaries and benefits for general management, finance and administrative personnel, share-based compensation expenses, rental, professional service fees and other expenses.
Research and development expenses	(y) Research and development expenses Research and development expenses consist primarily of payroll and related expenses for IT professionals involved in developing technology platform and website, server and other equipment depreciation, bandwidth and data center costs. All research and development costs have been expensed as incurred as the costs qualifying for capitalization have been insignificant.
Share-based compensation	(z) Share-based compensation The Group follows ASC Topic 718, which requires all share-based payments to employees and directors, including grants of employee stock options, to be recognized as compensation expense in the financial statements over the vesting period of the award based on the fair value of the award determined at the grant date. Under ASC Topic 718, the number of share-based awards for which the service is not expected to be rendered for the requisite period should be estimated, and the related compensation cost is not recorded for that number of awards. In accordance with ASC Topic 718, the Group recognize share-based compensation expenses, net of a forfeiture rate, using the straight-line method for awards with services conditions only, and using the graded-vesting attribution method for awards with graded vesting features and performance conditions. Compensation cost is accrued if it is probable that a performance condition will be achieved.
Leases	( aa) Leases Prior to the adoption of ASC 842 on January 1, 2019 A lease for which substantially all the benefits and risks incidental to ownership remain with the lessor is classified as an operating lease. All leases of the Group are currently classified as operating leases. When a lease contains rent holidays, the Group records the total expenses on a straight-line basis over the lease term. Upon and hereafter the adoption of ASC 842 on January 1, 2019 The Group determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities, in the Group’s consolidated balance sheets. The Group does not have any finance leases as of the adoption date or December 31, 2019. ROU assets represent the Group’s right to use an underlying asset for the lease term and lease liabilities represent the Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Group includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate, which it calculates based on the credit quality of the Group and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease. The Group has elected to adopt the following lease practical expedients in conjunction with the adoption of ASU 2016-02: (i) elect for each lease to not separate non-lease components from lease components and instead to account for each separate lease component and the non-lease components associated with that lease component as a single lease component; (ii) for leases that have lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Group elected not to apply ASC 842 recognition requirements; and (iii) the Group elected to apply the package of practical expedients for existing arrangements entered into prior to January 1, 2019 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied to existing leases, and (c) initial direct costs.
Government grants and subsidy income	(ab) Government grants and subsidy income The Group receives government grants and subsidies in the PRC from various levels of local governments from time to time which are granted for general corporate purposes and to support its ongoing operations in the region. The grants are determined at the discretion of the relevant government authority and there are no restrictions on their use. The government subsidies are recorded as other income in the consolidated statement of comprehensive income in the period the cash is received. The government grants received by the Group amounting to RMB1,682, RMB53,739 and RMB 62,517
Taxation	(ac) Taxation Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carry forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be received or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of comprehensive income (loss) in the period of the enactment of the change. The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. The Group recognizes a tax benefit associated with an uncertain tax position when, in its judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority. For a tax position that meets the more-likely-than-not
Earnings (loss) per share	(ad) Earnings (loss) per share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period using the two-class two-class if-converted
Segment reporting	(ae) Segment reporting The Group’s chief operating decision maker, the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole and therefore, the Group only has one no
Treasury shares	(af) Treasury shares The Group paid-in paid-in In the event that treasury shares are reissued at an amount different from the cost the Company paid to repurchase the treasury shares, the Company will recognize the difference in additional paid-in capital by using first-in, first-out method. The treasury shares account includes and ordinary shares mainly for the purpose of exercise of share-based compensation plans as of December , and , respectively.
Statutory reserves	(ag) Statutory reserves In accordance with the relevant regulations and their articles of association, subsidiaries of the Company incorporated in the PRC are required to allocate at least 10% of their after-tax 61,192
Recently issued accounting standards	(aj) Recently issued accounting standards Adoption of new accounting standards In February 2016, the FASB issued ASU 2016-02, 2016-02”), 2016-02 right-to-use 2018-10, 2018-11, The Group adopted ASC Topic 842 using the modified retrospective transition approach. Prior period results continue to be presented under ASC Topic 840 based on the accounting standards originally in effect for such periods. Please refer to Note 2(a a New accounting standards not yet adopted In June 2016, the FASB amended guidance related to impairment of financial instruments as part of ASU 2016-13 2018-19): 2016-13. a In January 2017, the FASB issued ASU 2017-04, In August 2018, the FASB issued ASU 2018-13, 2018-13

Principal activities and reor_2

Principal activities and reorganization (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Principal Subsidiaries and Consolidated VIEs'	As of December 31, 2019, the Company’s principal subsidiaries and consolidated VIEs are as follows: Name Percentage direct or ownership Date of incorporation Place of Subsidiaries FinVolution (HK) LIMITED. (“FinVolution HK”) 100 % June 12, 2012 Hong Kong, China Beijing Prosper Investment Consulting Co., Ltd. (“Beijing Prosper”) 100 % August 21, 2012 Beijing, China Shanghai Guangjian Information Technology Co., Ltd. (“Shanghai Guangjian”) 100 % June 5, 2017 Shanghai, China Shanghai Shanghu Information Technology Co., Ltd. (“Shanghai Shanghu”) Shanghai Manyin Information Technology Co., Ltd. (“Shanghai Manyin”) 100 % February 12, 2018 Shanghai, China Consolidated VIEs Beijing Paipairongxin Investment Consulting Co., Ltd. (“Beijing Paipairongxin”) 100 %* June 15, 2012 Beijing, China Shanghai Zihe Information Technology Co., Ltd. (“Shanghai Zihe”) 100 %* July 6, 2017 Shanghai, China Shanghai Nianqiao Technology Co., Ltd. 100 %* August 8, 2018 Shanghai, China Shanghai Ledao Technology Co., Ltd. 100 %* January 10, 2019 Shanghai, China Consolidated VIEs’ principal subsidiaries Shanghai PPDai Financial Information Services Co.,Ltd. (“Shanghai PPDai”) 100 %* January 18, 2011 Shanghai, China Shanghai Erxu Information Technology Co., Ltd. (“Shanghai Erxu”) 100 %* April 28, 2018 Shanghai, China Fujian Zhiyun Financing Guarantee Co., Ltd.. (“Fujian Zhiyun”) 100 %* November 21, 2019 Fujian, China * Controlled via contractual relationships

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Investments	The following As of December 31, 2018 2019 Equity method investments 81,000 96,622 Non-marketable 86,501 856,211 167,501 952,833
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table sets forth the Group’s assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: December 31, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair value RMB RMB RMB RMB Assets Short-term investments —wealth management products — 1,694,660 — 1,694,660 Investments —non-marketable — — 86,501 86,501 Financial guarantee derivative assets — — 56,287 56,287 Total Assets — 1,694,660 142,788 1,837,448 December 31, 2019 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair value RMB RMB RMB RMB Assets Short-term investments —wealth management products — 114,560 — 114,560 Investments —non-marketable — — 856,211 856,211 Total Assets — 114,560 856,211 970,771
Summary of Significant Unobservable Inputs used for Fair Value Measurement of Financial Guarantee Derivatives	The following table sets forth the significant unobservable inputs used for fair value measurement of financial guarantee derivatives: As of December 31, 2018 2019 Expected default rate 0.46% - N/A
Summary of Movement of Non-Marketable Investments	The following table sets forth the movement of non-marketable investments measured using Level 3 valuation techniques: For the years ended 2018 2019 Opening balance — 86,501 Purchase of non-marketable investments 86,578 771,218 Disposal of non-marketable investments — (1,508 ) Fair value change (77 ) — Ending balance 86,501 856,211
Schedule of Interest Income, Interest Expense and Loan Provision Losses Related to Loans	The net recor ded For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Interest income 46,975 316,193 1,342,289 Less: Interest expense (15,598 ) (60,085 ) (235,620 ) Net interest income 31,377 256,108 1,106,669
Schedule of Estimated Useful Life and Residual Value of Property and Equipment, Net	The following Category Estimated useful life Residual value Office furniture and equipment 3 5 years 5% Computer and electronic equipment 3 5 years 5% Leasehold improvements shorter of remaining lease period or estimated useful life Nil Software 1 5 years Nil
Schedule of Guarantee and Quality Assurance Fund Obligations Movement Activities	The following table sets forth the Group’s quality assurance obligations movement activities for the years ended December 31, 2017, 2018 and 2019: For the years ended December 31, 2017 2018 2019 Opening balance 473,704 2,062,844 3,819,379 Fair value of newly written guarantee and quality assurance obligation 3,318,432 5,313,489 6,156,826 Release of guarantee and quality assurance payable upon repayment (2,506,141 ) (4,049,457 ) (6,718,809 ) Contingent liability 2,527,209 3,380,930 6,409,884 Payouts during the year (4,812,797 ) (7,889,277 ) (12,299,134 ) Recoveries during the year 3,062,437 5,000,850 7,408,007 Ending balance 2,062,844 3,819,379 4,776,153
Schedule of Quality and Assurance Fund Receivable Movement Activities	The following table sets forth the Group’s quality assurance receivables movement activities for the years ended December 31, 2017, 2018 and 2019: For the years ended December 31, 2017 2018 2019 Opening balance 286,812 1,152,769 2,064,366 Fair value of newly written guarantee and quality assurance obligation 3,318,432 5,313,489 6,156,826 Guarantee fee and quality assurance obligation contribution received from borrowers (2,479,428 ) (4,244,259 ) (6,070,412 ) Gain (loss) from quality assurance 26,953 (157,633 ) (210,520 ) Fair value of early repaid investment program * — — 1,709,382 Ending balance 1,152,769 2,064,366 3,649,642 * Since November 2019, th e
Schedule of Financial Guarantee Derivative Movement Activities	The following table sets forth the Group’s financial guarantee derivative movement activities for the years ended December 31, 2017, 2018 and 2019. For the years ended December 31, 2017 2018 2019 Opening balance 167,291 (215,770 ) 56,287 Initial recognition of and change in fair value of ongoing investor reserve arrangements (213,958 ) 114,813 (24,843 ) Settlement upon maturity of investor reserve arrangements (169,103 ) 157,244 (31,444 ) Ending balance (215,770 ) 56,287 —
Schedule of Revenue Initial Application Period Cumulative Effect Transition	The following table sets forth the impact to the consolidated statement of comprehensive income for the years ended December 31, 2018 as a result of adoption of ASC Topic 606. For the years ended December 31, 2018 As reported Amounts without Effect of Loan facilitation service fees 2,919,234 2,141,565 777,669 Post-facilitation service fees 922,797 773,116 149,681 Other Revenue 376,915 793,188 (416,273 ) 4,218,946 3,707,869 511,077
Disaggregation of Revenue	The following table set s For the year ended December 31, 2018 2019 With quality Without quality With quality Without quality Loan facilitation service fees 2,404,178 515,056 2,984,063 326,812 Post-facilitation service fees 678,518 244,279 1,096,660 103,713 Other revenue - investment management fee 208,471 — 109,423 — - borrowers referral fee — 96,167 — 130,677 - others 54,734 17,543 37,949 66,791 Changes in expected discretionary payment to IRF investors — 68,619 — — 3,345,901 941,664 4,228,095 627,993
Beijing Paipairongxin Investment Consulting Co., Ltd [Member]
Summary of Financial Information of VIE and its Subsidiaries	The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and their subsidiaries are eliminated in the balances presented below: As of December 31, 2018 2019 RMB RMB Cash and cash equivalents 752,102 2,025,233 Restricted cash 3,341,985 2,620,706 Short-term investments 1,574,090 — Account s 800,334 846,454 Quality assurance receivable 2,064,366 3,649,642 Property, equipment and software, net 104,802 103,444 Right of Use assets — 94,852 Loans and receivables, net of provision for loan losses — 36,344 Financial guarantee derivative assets 56,287 — Investments 1,147,569 2,306,831 Deferred tax assets 88,446 122,920 Contract assets 112,103 20,555 Prepaid expenses and other assets 167,817 1,290,996 Total assets 10,209,901 13,117,977 Payable to platform customers 905,034 684,630 Quality assurance payable 3,819,379 4,776,153 Payroll and welfare payable 129,809 115,540 Taxes payable 208,585 32,468 Short-term borrowings — 85,000 Contract liabilities 158,061 50,166 Deferred tax liabilities 78,268 47,117 Leasing liabilities — 84,284 Amounts 1,609,126 3,189,663 Accrued expenses and other liabilities 190,406 237,802 Total liabilities 7,098,668 9,302,823 For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Net revenue 3,900,454 4,250,978 4,684,436 Net profit 730,855 1,604,530 661,808 Net cash provided by operating activities 3,233,966 1,356,887 74,977 Net cash provided by (used in) investing activities (1,642,454 ) (1,031,968 ) 367,903 Net cash provided by (used in) financing activities (31,250 ) 1,043,899 108,972 Net increase in cash, cash equivalents and restricted cash 1,560,262 1,368,818 551,852 Cash, cash equivalents and restricted cash at beginning of year 1,165,007 2,725,269 4,094,087 Cash, cash equivalents and restricted cash at end of year 2,725,269 4,094,087 4,645,939

Significant equity transactio_2

Significant equity transactions and acquisitions (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Schedule of Allocation of the Purchase Price	The allocation of the purchase price is as follows: As of acquisition date Amortization years RMB Identifiable assets acquired Identifiable intangible asset 63,760 Indefinite Cash 50,068 Other asset 2,337 Identifiable liabilities assumed Deferred tax liability (15,940 ) Other liability (393 ) Goodwill 50,411 Non-controlling (60,097 ) Total purchase price 90,146

Loans receivable, net (Tables)

Loans receivable, net (Tables)	12 Months Ended
	Dec. 31, 2019
Accounts Receivable and Related Allowance for Doubtful Accounts	Loans receivable originated and retained by the Group consist of the following: As of December 31, 2018 2019 RMB RMB Loans (adjusted, Note 2(ah)) 2,405,489 5,124,376 Allowance for loan losses (adjusted, Note 2(ah)) (74,381 ) (316,124 ) Loans receivable, net 2,331,108 4,808,252
Schedule of Allowance for Loan Losses	The following table sets forth the activity in the allowance for loan losses for the years ended December 31, 2017, 2018 and 2019. For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Beginning balance 1,084 47,670 74,381 Current period provision 65,299 204,442 372,066 Current period reversal (18,713 ) (11,693 ) (72,562 ) Current period write off — (166,038 ) (57,761 ) Ending balance 47,670 74,381 316,124
Schedule of Aging of Loans	The following table sets forth the aging 1-89 days 90-119 days 120-149 days 150-179 days Total past due Current Total loans receivable December 31, 2018 59,685 11,173 7,739 7,040 85,637 2,319,852 2,405,489 December 31, 2019 283,354 51,775 45,321 40,034 420,484 4,703,892 5,124,376
Schedule of Total Assets, Liabilities, Results of Operations and Cash Flows of Trusts	The following table sets forth the total assets, liabilities, results of operations and cash flows of the above trusts, which are included in the Group’s consolidated financial statements. As of December 31, 2018 2019 RMB RMB Restricted cash 303,667 799,646 Loans and other receivable 2,507,878 5,092,609 Total assets 2,811,545 5,892,255 Funds payable to investors of consolidated trusts 2,808,506 5,887,693 Taxes payable 3,039 4,562 Total liabilities 2,811,545 5,892,255 For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Net revenue (28,372 ) (164,082 ) (243,795 ) Net loss (44,396 ) — — Net cash used in operating activities (16,024 ) (18,008 ) (78,339 ) Net cash used in investing activities (615,971 ) (1,624,784 ) (1,290,842 ) Net cash provided by financing activities 675,654 1,901,684 1,865,160 Net increase in cash, cash equivalents and restricted cash 43,659 258,892 495,979 Cash, cash equivalents and restricted cash at beginning of year 1,116 44,775 303,667 Cash, cash equivalents and restricted cash at end of period 44,775 303,667 799,646
Schedule of Reconciliation of funds payable to investors of consolidated trusts	The following table sets forth the breakdown of funds payable to investors of consolidated trusts between the institutional funding partners and the Group as of December 31, 2018 and December 31, 2019: As of December 31, 2018 2019 Institutional funding The Group Institutional funding The Group Principal invested 1,493,916 1,093,610 3,529,785 1,316,130 Accrued interest/residual interest 11,993 208,987 130,698 911,080 Total 1,505,909 1,302,597 3,660,483 2,227,210
Accounts Receivable [Member]
Accounts Receivable and Related Allowance for Doubtful Accounts	The following table presents the accounts receivable as of December 31, 2018 and 2019: As of December 31, 2018 2019 RMB RMB Accounts receivable (adjusted, Note 2(ah)) 862,586 1,028,004 Allowance for doubtful accounts (adjusted, Note 2(ah)) (50,544 ) (145,699 ) Accounts receivable, net 812,042 882,305
Schedule of Aging of Loans	The following table presents the aging of past-due accounts receivable or more by type of fee as of December 31, 2018 and 2019: Current 1-89 days past due 90-119 Past due 120-149 Past due 150-179 days Total accounts receivable December 31, 2018 Loan facilitation 765,354 38,768 8,193 8,086 7,720 828,121 Post facilitation 10,310 4,197 1,689 1,877 1,926 19,999 Other 14,466 — — — — 14,466 Total 790,130 42,965 9,882 9,963 9,646 862,586 December 31, 2019 Loan facilitation 793,608 78,878 22,058 20,440 18,920 933,904 Post facilitation 38,710 11,487 4,956 5,238 5,346 65,737 Other 28,363 — — — — 28,363 Total 860,681 90,365 27,014 25,678 24,266 1,028,004

Prepaid expenses and other as_2

Prepaid expenses and other assets (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Receivables, Prepayments and Other Assets	Receivables, prepayments and other assets consist of the following: As of December 31, 2018 2019 RMB RMB Security deposits 1 60,052 1,108,146 Prepaid rental deposits 92,922 100,125 Prepaid online marketing expenses 25,975 17,701 Advances 19,517 14,220 Convertible loan 2 — 20,000 Others 23,327 130,831 221,793 1,391,023 1 The balances represent security deposits set aside as requested by certain institutional funding partners, held in deposit accounts with the institutional funding partners. 2 In 2019, the Group agrees to grant a RMB20,000 loan, which can be extend to RMB40,000, to Shanghai Qiaopan Technology Company Limited (“Qiaopan”), a third party company founded by a former employee of the Group. Together with the loan agreement, the Group agrees to lent certain equipment amounting to RMB8,000 to Qiaopan. The loan and equipment are convertible into a minority interest in Qiaopan upon occurrence of certain events in 2020. If Qiaopan fails to fulfill such events, Qiaopan is obligated to repay loan at a 8% interest rate and pay a rental fee of certain percentage on the equipment amount for its usage of the equipment. The Group considered this arrangement and concluded although Qiaopan meets the definition of VIE, the Group does not need to consolidate Qiaopan in its consolidated financial statements as the Group does not have power to direct the activities of Qiaopan.

Property, equipment and softw_2

Property, equipment and software, net (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software, Net	Property, equipment and software, net consist of the following: As of December 31, 2018 2019 RMB RMB Computer and electronic equipment 126,842 166,019 Office furniture and equipment 13,843 15,993 Leasehold improvement 55,575 56,554 Software 28,069 33,797 Total 224,329 272,363 Less: Accumulated depreciation and amortization (1) (80,327 ) (138,039 ) Property, equipment and software, net 144,002 134,324 (1) Depreciation and amortization expenses for the years ended December 31, 2017, 2018 and 2019 was RMB 22,555 42,162 57,712

Intangible assets (Tables)

Intangible assets (Tables)	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: As of December 31, 2018 2019 RMB RMB Micro-Lending License 63,760 63,760 Financing guarantee License 1 4,600 4,600 Factoring License 1 265 265 Financial Leasing License 1 255 255 Total 68,880 68,880 Less: Accumulated amortization and impairment — (4,600 ) Intangible assets 68,880 64,280 1 The Group acquired Shenzhen Rongze Commerecial Co., Ltd, Zhongyu Financial Leasing and Zhongyisheng Financial Guarantee Co., Ltd. in 2018. The acquisitions met the “single or similar asset threshold” and are not considered as business combination in accordance with ASC Topic 805. In 2019, the financial guarantee licenses related to Zhongyisheng Financial Guarantee Co., Ltd. was revoked and therefore full impairment was provided.

Accounts receivable and contr_2

Accounts receivable and contract assets (Tables)	12 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Schedule of accounts receivable	The following table presents the accounts receivable as of December 31, 2018 and 2019: As of December 31, 2018 2019 RMB RMB Accounts receivable (adjusted, Note 2(ah)) 862,586 1,028,004 Allowance for doubtful accounts (adjusted, Note 2(ah)) (50,544 ) (145,699 ) Accounts receivable, net 812,042 882,305
Schedule of aging of past-due accounts receivable	The following table presents the aging of past-due accounts receivable or more by type of fee as of December 31, 2018 and 2019: Current 1-89 days past due 90-119 Past due 120-149 Past due 150-179 days Total accounts receivable December 31, 2018 Loan facilitation 765,354 38,768 8,193 8,086 7,720 828,121 Post facilitation 10,310 4,197 1,689 1,877 1,926 19,999 Other 14,466 — — — — 14,466 Total 790,130 42,965 9,882 9,963 9,646 862,586 December 31, 2019 Loan facilitation 793,608 78,878 22,058 20,440 18,920 933,904 Post facilitation 38,710 11,487 4,956 5,238 5,346 65,737 Other 28,363 — — — — 28,363 Total 860,681 90,365 27,014 25,678 24,266 1,028,004
Schedule of Movement of Provision for Accounts Receivable	The following table sets forth the movement of provision for accounts receivable as of December 31, 2018 and 2019, respectively: For the Years Ended December 31, 2018 2019 RMB RMB Beginning balance — 50,544 Impact due to adoption of new revenue standard 16,501 — Current period accrual 107,352 274,375 Current period reversal (700 ) (12,493 ) Current period write-off (72,609 ) (166,727 ) Ending balance 50,544 145,699
Schedule of Contract with Customer, Assets	The following table sets forth the contract assets as of December 31, 2018 and 2019: As of December 31, 2018 2019 RMB RMB Investment management fee for investment programs 110,321 20,555 Contract acquisition cost 1,782 — 112,103 20,555
Schedule of Movement of Contract Assets	The following table sets forth the movement of contract assets for the years ended December 31, 2018 and 2019: For the Years Ended December 31, 2018 2019 RMB RMB Beginning balance — 112,103 Impact due to adoption of new revenue standard 53,084 — Recognition of investment management fee 208,471 109,423 Recognition of contract acquisition cost 4,186 — Settlement upon maturity of investment programs (146,483 ) (199,189 ) Settlement upon fulfilment of contract (7,155 ) (1,782 ) Ending balance 112,103 20,555

Accrued expenses and other li_2

Accrued expenses and other liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: As of December 31 2018 2019 RMB RMB Funds payable to financial institution partners* 7,490 95,643 Accrued marketing expense 113,568 45,616 Accrued collection service fee 15,005 35,358 Accrued technical services expense 16,510 20,945 Accrued payment channel expenses 25,728 18,620 Accrued professional service fee 16,441 16,270 Others 27,777 55,173 222,519 287,625 * The balance of payable mainly includes funds received from borrowers but not yet transferred to the institutional funding partners due to the settlement time lag.

Related party balances and tr_2

Related party balances and transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Summary of Amount Incurred by the Group	Amounts incurred by the Group For the Years ended December 31, 2017 2018 2019 RMB RMB RMB Data collection service expense (i) . 84,362 109,666 43,494 (i) PPcredit Data Service (Shanghai) Co., Ltd. (“PPcredit”) was founded in April 2016 by the founders of the Group to provide data collection services. The Group mainly uses PPcredit as a data provider since PPcredit was established. The price for the service is determined based on the price charged by other market participants.
Summary of Amounts Due to Related Party	Amounts due to related party As of December 31, 2018 2019 RMB RMB PPcredit — 4,309
Summary of Amounts Due From Related Party	Amounts due from related party As of December 31, 2018 2019 RMB RMB PPcredit 2,830 —

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Current and Deferred Portions of Income Tax Expenses	The current and deferred portions of income tax expenses included in the consolidated statements of comprehensive income (loss) during the years ended December 31, 2017, 2018 and 2019 are as follows: For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Current income tax expenses 371,354 94,787 390,080 Deferred income tax expense (benefit) (96,643 ) 56,419 91,882 Total 274,711 151,206 481,962
Summary of Reconciliation Between the Computed Expected Tax Expenses (Benefit) Rate and the Effective Income Tax Rate	The following table sets forth reconciliation between the computed expected tax expenses (benefit) rate and the effective income tax rate: For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Statutory tax rate 25 % 25 % 25 % Research and development tax credit (2 )% (2 )% (3 ) % Effect of tax holiday* (6 )% (19 )% (7 ) % Change in valuation allowance — — 1 % Non-deductible expenses 2 % 2 % 1 % Others 1 % — — Effective income tax rate 20 % 6 % 17 %
Summary of Aggregate Amount and Per Share Effect of Tax Holidays	The aggregate amount and per share effect of the tax holidays are as follows For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB Tax holiday effect 153,908 460,333 202,923 Net income per share effect - Basic 0.20 0.31 0.13 - Diluted 0.20 0.29 0.13
Significant Components of Deferred Tax Assets	The following table sets forth the significant components of the deferred tax assets: As of December 31, 2018 2019 RMB RMB Deferred tax assets: Timing difference in revenue recognition for transaction service 63,733 62,718 Provision for accounts receivable and loans receivable 52,207 49,827 Net accumulated losses-carry forward 38,851 15,166 Payroll and welfare payable and other temporary difference 8,115 8,274 Less: valuation allowance (40,143 ) (6,245 ) Total deferred tax assets 122,763 129,740 Deferred tax liabilities: Quality assurance payable (41,799 ) (34,367 ) Intangible assets arisen from business combination (15,940 ) (15,940 ) Investor reserve funds (23,287 ) (15,523 ) Unrealized gain in consolidated trusts — (130,009 ) Other taxable temporary difference (19,038 ) (3,083 ) Total deferred tax liabilitie s (100,064 ) (198,922 ) Net deferred tax assets (liabilities) 22,699 (69,182 )
Movement of Valuation Allowances	Movement of valuation allowances For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB At beginning of year 2,906 21,538 40,143 Current year additions 18,688 22,585 741 Current year reversals (56 ) (3,980 ) (34,639 ) At end of year 21,538 40,143 6,245

Share-based compensation (Table

Share-based compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Shares Activities	The following table sets forth the stock option shares activities under all the option plans for the years ended December 31, 2017, 2018 and 2019: Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value US$ US$ Outstanding at December 31, 2016 112,570,000 0.0650 3.37 22,688 Granted 26,610,000 0.3020 — — Canceled/ Forfeited (7,538,200 ) 0.0967 — — Outstanding at December 31, 2017 131,641,800 0.1108 2.69 172,618 Granted 12,039,050 0.8942 — — Canceled/ Forfeited (3,722,285 ) 0.1930 — — Expired (300,000 ) 0.0040 — — Exercised (44,005,360 ) 0.0543 — — Outstanding at December 31, 2018 95,653,205 0.2214 2.17 47,689 Granted 19,275,000 0.6540 — — Canceled/ Forfeited (6,490,415 ) 0.5964 — — Exercised (53,873,360 ) 0.0977 — — Outstanding at December 31, 2019 54,564,430 0.4519 2.51 4,264 Vested and expected to vest at December 31, 2019 53,286,128 0.4523 2.51 4,143 Exercisable as of December 31, 2019 14,156,930 0.3075 1.54 3,221
Schedule of Fair Value of Each Option Granted Estimated Using Binomial Model Assumption	The fair value of each option granted under the Company’s Incentive Shares plan was estimated on the date of grant using the binomial model that uses the assumption noted in the following table: Options Granted in 2017 Options Granted in 2018 Options Granted in 2019 RMB RMB RMB Risk-free interest rate 1.97%~2.04 % 2.52%-2.75 % 2.62% Expected life (in years) 5 5 5 Expected dividend yield 0 % 0 % 0% Expected volatility 39.0%~41.9 % 37.74%-38.74 % 38.01% Exercise multiple 2.8 2.2-2.8 2.2-2.8
Summary of Restricted Stock Units Activities Under All Incentive Plans	The following table sets forth the Company’s RSUs activities under all incentive plans for the years ended December 31, 2017, 2018 and 2019: Number of RSUs Weighted- US$ Unvested at December 31, 2017 — — Granted 7,822,280 1.4375 Vested — — Canceled/ Forfeited (270,800 ) 1.3233 Unvested at December 31, 2018 7,551,480 1.4416 Granted 9,406,495 0.7353 Vested (1,534,570 ) 1.4645 Canceled/ (3,399,610 ) 1.0740 Unvested at December 31, 2019 12,023,795 0.9880

Net income (loss) per share (Ta

Net income (loss) per share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Computation of Earnings Per Share	Basic earnings (loss) per share and diluted earnings (loss) per share have been calculated in accordance with ASC Topic 260 on computation of earnings per share for the years ended December 31, 2017, 2018 and 2019 as follows: For the years ended December 31, 2017 2018 2019 RMB RMB RMB Basic net income (loss) per share calculation: Numerator: Net profit (loss) attributable to FinVolution Group 1,082,983 2,469,074 2,372,850 Accretion on Series A convertible redeemable preferred shares redemption value (1,237,274 ) — — Accretion on Series B convertible redeemable preferred shares (905,861 ) — — Accretion on Series C convertible redeemable preferred shares (930,336 ) — — Net income (loss) attributable to ordinary shareholders - basic (1,990,488 ) 2,469,074 2,372,850 Denominator: Weighted average number of ordinary shares outstanding - 779,804,270 1,498,780,165 1,525,814,189 Net income (loss) per share attributable to ordinary shareholders - (2.5525 ) 1.6474 1.5551 Dilute net income (loss) per share calculation: Numerator: Net income (loss) attributable to ordinary shareholders (1,990,488 ) 2,469,074 2,372,850 Denominator: Weighted average number of ordinary shares outstanding - basic 779,804,270 1,498,780,165 1,525,814,189 Ordinary shares issuable upon the exercise of outstanding stock options using the treasury stock method — 98,670,254 23,831,652 Ordinary shares issuable upon the vesting of outstanding restricted share units using the treasury stock method — 2,141,812 2,777,219 Weighted average number of ordinary shares outstanding - diluted 779,804,270 1,599,592,231 1,552,423,060 Net income (loss) per share attributable to ordinary shareholders - diluted (2.5525 ) 1.5436 1.5285

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Summary of lease cost	(a) The following table sets forth the breakdown of leasing expenses: For the years ended 2019 RMB Lease cost: Amortization of right-of-use assets 44,190 Interest of lease liabilities 5,183 Expenses for short-term leases within 12 months 1,499 Total lease cost 50,872
Summary of supplemental cash flow	(b) The following table sets forth the supplemental cash flow information related to leases: For the years ended 2019 RMB Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating lease payments 51,370
Summary of weighted-average remaining lease term and discount rate	(c) The following table sets forth the weighted-average remaining lease term and discount rate: As of December 31, 2019 Weighted-average remaining lease term Operating leases 2.46 years Weighted-average discount rate Operating leases 4.75 %
Summary of maturities of lease liabilities	(d) The following table sets forth the maturities of lease liabilities: For the years ended 2019 RMB 2020 45,174 2021 40,688 2022 15,285 2023 640 Total undiscounted lease payments 101,787 Less: imputed interest (16,644 ) Total lease liabilities 85,143
Summary of non-cancellable future minimum lease payments	(e) The following table sets forth the non-cancellable future minimum lease payments for the Group’s operating leases under the previous lease standard (“ASC Topic 840”) as of December 31, 2018: As of December 31, 2018 RMB 2019 58,406 2020 45,077 2021 40,221 2022 14,826 Thereafter 640 Total 159,170

Condensed financial informati_2

Condensed financial information of the parent company (Tables)	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Balance Sheet	The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2018 and 2019. As of December 31, 2018 2019 RMB RMB US$ Note2(f) Assets Cash and cash equivalents 461,054 157,143 22,572 Prepaid expenses and other assets 4,798 4,443 638 Investment in and advances to subsidiaries 5,476,363 8,223,441 1,181,220 Total assets 5,942,215 8,385,027 1,204,430 Liabilities and Shareholders’ Equity Accrued expenses and other liabilities 18,333 437,071 62,781 Total liabilities 18,333 437,071 62,781 Shareholders’ equity : Class A ordinary shares (US$0.00001 par value; 58 64 9 Class B ordinary shares (US$0.00001 par value; 44 39 6 Additional paid-in 5,896,017 5,640,898 810,265 Treasury stock (46,301,000 and 20,634,265 shares as of December 31, 2018 and 2019, respectively) (332,121 ) (47,174 ) (6,777 ) Statutory reserves 256,006 317,198 45,563 Accumulated other comprehensive income 58,210 70,320 10,097 Retained earnings 45,668 1,966,611 282,486 Total shareholders’ equity 5,923,882 7,947,956 1,141,649 Total liabilities and shareholders’ equity 5,942,215 8,385,027 1,204,430
Schedule of Comprehensive Loss	Statements of comprehensive loss For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB US$ Note 2(f) Operating expenses Sales and marketing expenses — (2 ) — — General and administrative expenses (71,189 ) (57,448 ) (25,590 ) (3,675 ) Profits from operations — Other income, net 2,515 21,183 7,898 1,133 Share of profit of subsidiaries 1,151,657 2,505,341 2,390,542 343,380 Net profit 1,082,983 2,469,074 2,372,850 340,838 Accretion on Series A convertible redeemable preferred shares to redemption (1,237,274 ) — — — Accretion on Series B convertible redeemable preferred shares to redemption value (905,861 ) — — — Accretion on Series C convertible redeemable preferred shares to redemption value (930,336 ) — — — Net profit (loss) attributable to ordinary shareholders (1,990,488 ) 2,469,074 2,372,850 340,838
Schedule of Cash Flow Statement	Statements of cash flows For the Years Ended December 31, 2017 2018 2019 RMB RMB RMB US$ Note 2(f) Net cash provided by (used in) operating activities (12,178 ) 12,111 8,474 1,217 Net cash used in investing activities (720,259 ) (69,660 ) 86,471 12,421 Net cash provided by (used in) financing activities 1,677,222 (438,253 ) (401,400 ) (57,658 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash (13,447 ) 22,098 2,544 366 Net increase (decrease) in cash, cash equivalents and restricted cash 931,338 (473,704 ) (303,911 ) (43,654 ) Cash, cash equivalents and restricted cash-beginning of year 3,420 934,758 461,054 66,226 Cash, cash equivalents and restricted cash-end 934,758 461,054 157,143 22,572

Principal Activities and Reor_3

Principal Activities and Reorganization - Schedule of Principal Subsidiaries and Consolidated VIE (Detail)	12 Months Ended
	Dec. 31, 2019
Principal Activities And Reorganization [Line Items]
Date of incorporation	Jun. 6, 2012
Place of incorporation	Cayman Islands
FinVolution (HK) LIMITED [Member] | Subsidiaries [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Jun. 12, 2012
Place of incorporation	Hong Kong, China
Beijing Prosper Investment Consulting Co., Ltd [Member] | Subsidiaries [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Aug. 21, 2012
Place of incorporation	Beijing, China
Shanghai Guangjian Information Technology Co., Ltd [Member] | Subsidiaries [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Jun. 5, 2017
Place of incorporation	Shanghai, China
Shanghai Manyin Information Technology Co., Ltd. [Member] | Subsidiaries [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Feb. 12, 2018
Place of incorporation	Shanghai, China
Consolidated VIEs' [Member] | Beijing Paipairongxin Investment Consulting Co., Ltd [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Jun. 15, 2012
Place of incorporation	Beijing, China
Consolidated VIEs' [Member] | Shanghai Zihe Information Technology Co., Ltd [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Jul. 6, 2017
Place of incorporation	Shanghai, China
Consolidated VIEs' [Member] | Shanghai Nianqiao Technology Co., Ltd [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Aug. 8, 2018
Place of incorporation	Shanghai, China
Consolidated VIEs' [Member] | Shanghai Ledao Technology Co., Ltd. [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Jan. 10, 2019
Place of incorporation	Shanghai, China
Consolidated VIEs' principal subsidiaries [Member] | Shanghai PPDai Financial Information Services Co.,Ltd [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Jan. 18, 2011
Place of incorporation	Shanghai, China
Consolidated VIEs' principal subsidiaries [Member] | Shanghai Erxu Information Technology Co., Ltd [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Apr. 28, 2018
Place of incorporation	Shanghai, China
Consolidated VIEs' principal subsidiaries [Member] | Fujian Zhiyun Financing Guarantee Co., Ltd [Member]
Principal Activities And Reorganization [Line Items]
Percentage of direct or indirect ownership	100.00%
Date of incorporation	Nov. 21, 2019
Place of incorporation	Fujian, China

Principal Activities and Reor_4

Principal Activities and Reorganization - Additional Information (Detail)	Oct. 20, 2017$ / shares	Dec. 31, 2019$ / shares	Jun. 30, 2012$ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of incorporation		Jun. 6, 2012
Place of incorporation		Cayman Islands
Share split, description		Each of ordinary share and preferred share of the Company was subdivided into 100 shares at a par value of US$0.00001
Preferred stock shares converted and designated	100
Ordinary shares, par value	$ 0.00001	$ 0.00001	$ 0.00001
Preferred shares, par value	$ 0.00001

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	Jan. 01, 2020CNY (¥)	Dec. 31, 2019CNY (¥)Segmentsshares	Dec. 31, 2019USD ($)Segments	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2017CNY (¥)	Mar. 31, 2020CNY (¥)	Dec. 31, 2019USD ($)shares	Oct. 31, 2019CNY (¥)	Jul. 31, 2019CNY (¥)	Jul. 31, 2019USD ($)	Apr. 30, 2019CNY (¥)	Jan. 01, 2019CNY (¥)	Oct. 31, 2018CNY (¥)	Oct. 31, 2017CNY (¥)
Summary Of Significant Accounting Policies [Line Items]
Exchange rates used for translation		6.9762		6.8632			6.9762
Convenience translation rate		6.9618					6.9618
Restricted cash		¥ 3,686,203,000		¥ 3,677,557,000			$ 529,490
Cash collateral for borrowed securities		251,853,000		26,000,000
Cash held in escrow accounts		44,367,000		10,436,000
Insignificant equity method investments		803,691,000	$ 115,443	155,286,000	¥ 9,953,000
Disposed equity method investments		20,000,000		0	0
Gain on disposed equity method investments		10,621,000		0	0
Disposed non marketable equity securities		1,508		0	0
Loss on disposed non marketable equity securities		7,000		0	0
Cash consideration for equity interests		¥ 96,622,000		81,000,000
Acquired of equity interest		10.00%					10.00%
Impairment of long-lived assets		¥ 4,600,000		0	0
Gain from quality assurance fund		¥ 98,400,000	$ 14,100	510,900,000	5,900,000
Percentage of principal amount invested received		0.10%	0.10%
Restricted cash transferred to cash and cash equivalents														¥ 45,567,000
Reversal of gains					213,958,000
Expected discretionary payment to investor reserve				39,041,000	107,660,000
Discretionary payment to investor reserve				68,619,000
Operating revenues				¥ 4,218,946,000
Percentage on statutory reserve contribution from net profit		50.00%	50.00%
Number of reportable segments | Segments		1	1
Number of geographical segments | Segments		0	0
Treasury stock, common shares | shares		20,634,265		46,301,000			20,634,265
Appropriations to the general reserve		¥ 61,192,000		¥ 200,916,000	39,428,000
Maximum potential future payments of outstanding loans		0					$ 0
Equity method investment impairment		0		0	0
Reclassified provision for loan receivables		299,504,000
Prior period reclassification amount				192,749,000	46,586,000
Operating lease right of use asset		95,786,000					$ 13,759					¥ 127,066,000
Operating lease liability		85,143,000										¥ 118,420,000
Cummulative effect on retained earnings				176,494,000
Non-marketable equity investments		856,211,000		86,501,000
Non-marketable Equity Method Investments [Member]
Summary Of Significant Accounting Policies [Line Items]
Amount of fair value adjustment		0		77,000
Non-marketable Equity Investments In Financial Industry [Member]
Summary Of Significant Accounting Policies [Line Items]
Non-marketable equity investments		700,000,000
Fujian Zhiyun [Member] | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Net assets of guarantee company						¥ 0
Individual Investors With Capped Obligations [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash				2,414,449,000
Institutional Investors Without Uncapped Obligations [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash		1,473,749,000
Shanghai Yi Yang Automobile Service Co Ltd [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash consideration for equity interests													¥ 30,000,000
Acquired of equity interest													5.00%
Shanghai Zhan Lue Data Technology Co Ltd [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash consideration for equity interests											¥ 30,000,000
Acquired of equity interest											6.98%
Fan Sheng Limited [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash consideration for equity interests									¥ 30,000,000	$ 4,370
Acquired of equity interest									3.22%	3.22%
Two Private Equity Fund One [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash consideration for equity interests									¥ 50,000,000
Two Private Equity Fund Two [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash consideration for equity interests									¥ 20,000,000
Guarantee and Quality Assurance Fund [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash		21,794,353,000		19,350,705,000
Investor Reserve Funds [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash		41,958,000		17,971,000
Cash Received From Investors Or Borrowers Not Yet Disbursed [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash		684,630,000		905,034,000
Cash Received Via Consolidated Trust Not Yet Distributed [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash		799,646,000		303,667,000
Demand Deposits [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash								¥ 390,000,000
Accounting Standards Update 2016-13 [Member] | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase in financial instruments	¥ 0
Cummulative effect on retained earnings	¥ 882,964,000
Grants [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating revenues		62,517,000		53,739,000	1,682,000
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect of initially applying the revenue standard on retained earnings		176,500,000
Operating revenues				511,077,000
Other Income [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash held in escrow accounts		52,863,000
Realized and unrealized gain on short-term investments				96,061,000	35,516,000
Selling and Marketing Expense [Member]
Summary Of Significant Accounting Policies [Line Items]
Advertising and online marketing expenses		¥ 710,203,000		702,508,000	779,737,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents, original maturities period		3 months	3 months
Insignificant equity method investments		¥ 25,000,000		25,000,000	25,000,000
Insignificant non-marketable equity method investments		¥ 13,952,000		13,952,000	13,952,000
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Statutory reserve contribution percentage on net profit		10.00%	10.00%
Insignificant equity method investments		¥ 5,000,000		5,000,000	5,000,000
Insignificant non-marketable equity method investments		¥ 209,000		¥ 209,000	¥ 209,000
Beijing Prosper Investment Consulting Co., Ltd [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage to pay service fees by VIE's		100.00%	100.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Financial Information of VIE and its Subsidiaries (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Jan. 01, 2019CNY (¥)	Dec. 31, 2018CNY (¥)
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 2,324,542	$ 333,900		¥ 1,616,164
Restricted cash	3,686,203	529,490		3,677,557
Short-term investments	114,560	16,456		1,694,660
Accounts receivable	882,305	126,735		812,042
Property, equipment and software, net	134,324	19,294		144,002
Right of use assets	95,786	13,759	¥ 127,066
Financial guarantee derivative assets				56,287
Investments	96,622			81,000
Deferred tax assets	129,740	18,636		122,763
Contract assets	20,555	2,952		112,103
Prepaid expenses and other assets	1,391,023	199,806		221,793
Total assets	18,304,456	2,629,268		13,142,467
Payable to platform customers	684,630	98,341		905,034
Payroll and welfare payable	176,685	25,379		188,254
Taxes payable	128,298	18,429		225,101
Short-term borrowings	235,000	33,756		25,000
Contract liabilities	55,728	8,005		165,469
Deferred tax liabilities	198,922	28,573		100,064
Leasing liabilities	85,143	12,230
Amounts due to related parties	4,309	619
Accrued expenses and other liabilities	287,625	41,315		222,519
Total liabilities	10,292,976	$ 1,478,494		7,156,729
Beijing Paipairongxin Investment Consulting Co., Ltd [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents	2,025,233			752,102
Restricted cash	2,620,706			3,341,985
Short-term investments				1,574,090
Accounts receivable	846,454			800,334
Quality assurance receivable	3,649,642			2,064,366
Property, equipment and software, net	103,444			104,802
Right of use assets	94,852
Loans and receivables, net of provision for loan losses	36,344
Financial guarantee derivative assets				56,287
Investments	2,306,831			1,147,569
Deferred tax assets	122,920			88,446
Contract assets	20,555			112,103
Prepaid expenses and other assets	1,290,996			167,817
Total assets	13,117,977			10,209,901
Payable to platform customers	684,630			905,034
Quality assurance payable	4,776,153			3,819,379
Payroll and welfare payable	115,540			129,809
Taxes payable	32,468			208,585
Short-term borrowings	85,000
Contract liabilities	50,166			158,061
Deferred tax liabilities	47,117			78,268
Leasing liabilities	84,284
Amounts due to related parties	3,189,663			1,609,126
Accrued expenses and other liabilities	237,802			190,406
Total liabilities	¥ 9,302,823			¥ 7,098,668

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Financial Information of VIE and its Subsidiaries (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Variable Interest Entity [Line Items]
Net revenue			¥ 4,218,946
Net profit	¥ 2,374,518	$ 341,078	2,469,451	¥ 1,082,907
Net increase in cash, cash equivalents and restricted cash	717,024	102,995	1,010,017	3,076,139
Cash, cash equivalents and restricted cash at beginning of year	5,293,721	760,395	4,283,704	1,207,565
Cash, cash equivalents and restricted cash at end of year	6,010,745	$ 863,390	5,293,721	4,283,704
Beijing Paipairongxin Investment Consulting Co., Ltd [Member]
Variable Interest Entity [Line Items]
Net revenue	4,684,436		4,250,978	3,900,454
Net profit	661,808		1,604,530	730,855
Net cash provided by operating activities	74,977		1,356,887	3,233,966
Net cash provided by (used in) investing activities	367,903		(1,031,968)	(1,642,454)
Net cash provided by (used in) financing activities	108,972		1,043,899	(31,250)
Net increase in cash, cash equivalents and restricted cash	551,852		1,368,818	1,560,262
Cash, cash equivalents and restricted cash at beginning of year	4,094,087		2,725,269	1,165,007
Cash, cash equivalents and restricted cash at end of year	¥ 4,645,939		¥ 4,094,087	¥ 2,725,269

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Investments (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Summary Of Significant Accounting Policies [Abstract]
Equity method investments	¥ 96,622		¥ 81,000
Non-marketable equity investments	856,211		86,501
Investments	¥ 952,833	$ 136,866	¥ 167,501

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Total Assets	¥ 970,771	¥ 1,837,448
Non Marketable Equity Investments [Member]
Assets
Total Assets	856,211	86,501
Wealth Management Products [Member]
Assets
Total Assets	114,560	1,694,660
Financial guarantee derivative [Member]
Assets
Total Assets		56,287
Fair Value, Inputs, Level 2 [Member]
Assets
Total Assets	114,560	1,694,660
Fair Value, Inputs, Level 2 [Member] | Wealth Management Products [Member]
Assets
Total Assets	114,560	1,694,660
Fair Value, Inputs, Level 3 [Member]
Assets
Total Assets	856,211	142,788
Fair Value, Inputs, Level 3 [Member] | Non Marketable Equity Investments [Member]
Assets
Total Assets	¥ 856,211	86,501
Fair Value, Inputs, Level 3 [Member] | Financial guarantee derivative [Member]
Assets
Total Assets		¥ 56,287

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Summary of Significant Unobservable Inputs used for Fair Value Measurement of Financial Guarantee Derivatives (Detail) - Measurement Input, Default Rate [Member] - Financial guarantee derivative [Member]	Dec. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected default rate	0
Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected default rate		0.46
Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected default rate		12.37

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Summary of Movement of Non-Marketable Investments (Detail) - Non-marketable Investments [Member] - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Movement of Non-Marketable Investments [Line Items]
Opening balance	¥ 86,501
Purchase of non-marketable investments	771,218	¥ 86,578
Disposal of non-marketable investments	(1,508)
Fair value change		(77)
Ending balance	¥ 856,211	¥ 86,501

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Schedule of Interest Income, Interest Expense and Loan Provision Losses Related to Loans (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Accounting Policies [Abstract]
Interest income	¥ 1,342,289		¥ 316,193	¥ 46,975
Less: Provision for loan losses	(235,620)		(60,085)	(15,598)
Net interest income (expense) and provision for loan losses	¥ 1,106,669	$ 158,963	¥ 256,108	¥ 31,377

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Schedule of Estimated Useful Life and Residual Value of Property and Equipment Net (Detail)	12 Months Ended
	Dec. 31, 2019
Office Furniture and Equipment [Member]
Property Plant And Equipment [Line Items]
Residual value	5.00%
Computer and Electronic Equipment [Member]
Property Plant And Equipment [Line Items]
Residual value	5.00%
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	shorter of remaining lease period or estimated useful life
Residual value
Software [Member]
Property Plant And Equipment [Line Items]
Residual value
Minimum [Member] | Office Furniture and Equipment [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Minimum [Member] | Computer and Electronic Equipment [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Minimum [Member] | Software [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	1 year
Maximum [Member] | Office Furniture and Equipment [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Maximum [Member] | Computer and Electronic Equipment [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Maximum [Member] | Software [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Schedule of Guarantee and Quality Assurance Fund Obligations Movement Activities (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Accounting Policies [Abstract]
Opening balance	¥ 3,819,379		¥ 2,062,844	¥ 473,704
Fair value of newly written guarantee and quality assurance obligation	6,156,826		5,313,489	3,318,432
Release of guarantee and quality assurance payable upon repayment	(6,718,809)		(4,049,457)	(2,506,141)
Contingent liability	6,409,884		3,380,930	2,527,209
Payouts during the year	(12,299,134)		(7,889,277)	(4,812,797)
Recoveries during the year	7,408,007		5,000,850	3,062,437
Ending balance	¥ 4,776,153	$ 686,051	¥ 3,819,379	¥ 2,062,844

Summary of Significant Accou_14

Summary of Significant Accounting Policies - Schedule of Guarantee and Quality Assurance Fund Receivable Movement Activities (Detail) ¥ in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Accounting Policies [Abstract]
Opening balance		¥ 2,064,366		¥ 1,152,769	¥ 286,812
Fair value of newly written guarantee and quality assurance obligation		6,156,826		5,313,489	3,318,432
Guarantee fee and quality assurance obligation contribution received from borrowers		(6,070,412)		(4,244,259)	(2,479,428)
Gain (loss) from quality assurance		(210,520)		(157,633)	26,953
Fair value of early repaid investment program	[1]	1,709,382
Ending balance		¥ 3,649,642	$ 524,238	¥ 2,064,366	¥ 1,152,769
[1]	Since November 2019, the Company early repaid investors of certain investment programs before maturity of the investment program due to regulatory requirements. This is regarded as an advance to the borrowers, which resulted in an increase in quality assurance receivable. The initial recognition of such quality assurance relievable was based on best estimate of future cash receipt of the underlying loans.

Summary of Significant Accou_15

Summary of Significant Accounting Policies - Schedule of Financial Guarantee Derivative Movement Activities (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Summary Of Significant Accounting Policies [Line Items]
Settlement upon maturity of investor reserve arrangements	¥ (56,287)	$ (8,085)	¥ 272,057	¥ (383,061)
Financial Guarantee [Member]
Summary Of Significant Accounting Policies [Line Items]
Opening balance	56,287		(215,770)	167,291
Initial recognition of and change in fair value of ongoing investor reserve arrangements	(24,843)		114,813	(213,958)
Settlement upon maturity of investor reserve arrangements	¥ (31,444)		157,244	(169,103)
Ending balance			¥ 56,287	¥ (215,770)

Summary of Significant Accou_16

Summary of Significant Accounting Policies - Schedule of Revenue, Initial Application Period Cumulative Effect Transition (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			¥ 4,218,946
Loan facilitation service fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606	¥ 3,310,875	$ 475,577	2,919,234	¥ 2,843,287
Post-facilitation service fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606	1,200,373	172,423	922,797	668,819
Other Revenue [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606	¥ 344,840	$ 49,533	376,915	¥ 491,400
Amounts without adoption of ASC Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			3,707,869
Amounts without adoption of ASC Topic 606 [Member] | Loan facilitation service fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			2,141,565
Amounts without adoption of ASC Topic 606 [Member] | Post-facilitation service fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			773,116
Amounts without adoption of ASC Topic 606 [Member] | Other Revenue [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			793,188
Effect of change [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			511,077
Effect of change [Member] | Loan facilitation service fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			777,669
Effect of change [Member] | Post-facilitation service fees [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			149,681
Effect of change [Member] | Other Revenue [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Impact on adoption of ASC 606			¥ (416,273)

Summary of Significant Accou_17

Summary of Significant Accounting Policies - Disaggregation of Revenue (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	¥ 4,228,095	¥ 3,345,901
Without Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	627,993	941,664
Loan facilitation service fees [Member] | Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	2,984,063	2,404,178
Loan facilitation service fees [Member] | Without Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	326,812	515,056
Post-facilitation service fees [Member] | Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	1,096,660	678,518
Post-facilitation service fees [Member] | Without Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	103,713	244,279
Other Revenue [Member] | Quality Assurance Program [Member] | Investment Management Fees [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	109,423	208,471
Other Revenue [Member] | Quality Assurance Program [Member] | Other Revenues [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	37,949	54,734
Other Revenue [Member] | Without Quality Assurance Program [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors		68,619
Other Revenue [Member] | Without Quality Assurance Program [Member] | Borrowers Referral Fee [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	130,677	96,167
Other Revenue [Member] | Without Quality Assurance Program [Member] | Other Revenues [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Changes in expected discretionary payment to IRF investors	¥ 66,791	¥ 17,543

Significant Equity Transactio_3

Significant Equity Transactions and Acquisitions - Additional Information (Detail) ¥ in Millions	Nov. 10, 2017CNY (¥)Foundersshares	Oct. 31, 2017CNY (¥)	Aug. 31, 2017CNY (¥)	Dec. 31, 2017	Nov. 10, 2017$ / shares	Jun. 30, 2012shares
Significant Equity Transactions And Acquisitions [Line Items]
Common stock shares redesignated						4,000,000
HB Micro Lending Company [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Percentage of voting rights				60.00%
Acquisition date				Oct. 31, 2017
American Depositary Shares [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Net proceeds from initial public offering and private placement | ¥	¥ 253
Share Purchase Agreement [Member] | HB Micro Lending Company [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Percentage of common shares acquired			32.00%
Cash consideration | ¥			¥ 48.2
Equity Pledge Agreement [Member] | HB Micro Lending Company [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Percentage of common shares acquired		28.00%
Cash consideration | ¥		¥ 42
Gf Sino Vest Fund Spc Star Six SP [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Common stock shares redesignated						4,000,000
Number of founders | Founders	4
IPO [Member] | American Depositary Shares [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Number of shares offered	17,000,000
Number of ordinary shares represented by each ADS					5
Share price | $ / shares					$ 13
Private Placement [Member] | American Depositary Shares [Member]
Significant Equity Transactions And Acquisitions [Line Items]
Number of shares offered	3,846,154

Significant Equity Transactio_4

Significant Equity Transactions and Acquisitions - Summary of Allocation of the Purchase Price (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Identifiable liabilities assumed
Goodwill	¥ 50,411	$ 7,241	¥ 50,411
HB Micro Lending Company [Member]
Identifiable assets acquired
Identifiable intangible asset	63,760
Cash	50,068
Other asset	2,337
Identifiable liabilities assumed
Deferred tax liability	(15,940)
Other liability	(393)
Goodwill	50,411
Non-controlling interest	(60,097)
Total purchase price	¥ 90,146
Amortization years	Indefinite

Loans Receivable, Net - Schedul

Loans Receivable, Net - Schedule of Loans Receivable Originated and Retained (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Receivables [Abstract]
Loans (adjusted, Note 2(ah))	¥ 5,124,376		¥ 2,405,489
Allowance for loan losses (adjusted, Note 2(ah))	(316,124)		(74,381)	¥ (47,670)	¥ (1,084)
Loans receivable, net	¥ 4,808,252	$ 690,662	¥ 2,331,108

Loans Receivable, Net - Sched_2

Loans Receivable, Net - Schedule of Allowance for Loan Losses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Beginning balance	¥ 74,381	¥ 47,670	¥ 1,084
Current period provision	372,066	204,442	65,299
Current period reversal	(72,562)	(11,693)	(18,713)
Current period write off	(57,761)	(166,038)
Ending balance	¥ 316,124	¥ 74,381	¥ 47,670

Loans Receivable, Net - Sched_3

Loans Receivable, Net - Schedule of Aging of Loans (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable Recorded Investment Past Due [Line Items]
Total past due	¥ 420,484	¥ 85,637
Current	4,703,892	2,319,852
Total loans receivable	5,124,376	2,405,489
1-89 Days Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Total past due	283,354	59,685
90-119  days Past due
Financing Receivable Recorded Investment Past Due [Line Items]
Total past due	51,775	11,173
120-149 days Past due
Financing Receivable Recorded Investment Past Due [Line Items]
Total past due	45,321	7,739
150-179 days Past due
Financing Receivable Recorded Investment Past Due [Line Items]
Total past due	¥ 40,034	¥ 7,040

Loans Receivable, Net - Additio

Loans Receivable, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Loans receivable	¥ 137,130	¥ 25,952

Loans Receivable, Net - Sched_4

Loans Receivable, Net - Schedule of Total Assets, Liabilities of Trusts (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Loans And Leases Receivable Disclosure [Line Items]
Restricted cash	¥ 3,686,203	$ 529,490	¥ 3,677,557
Loans and other receivable	4,808,252	690,662	2,331,108
Total assets	18,304,456	2,629,268	13,142,467
Taxes payable	128,298	18,429	225,101
Total liabilities	10,292,976	$ 1,478,494	7,156,729
YN Trust I, YN Trust II, Fotic Trust I, Fotic Trust II and Fotic Trust III [Member]
Loans And Leases Receivable Disclosure [Line Items]
Restricted cash	799,646		303,667
Loans and other receivable	5,092,609		2,507,878
Total assets	5,892,255		2,811,545
Funds payable to investors of consolidated trusts	5,887,693		2,808,506
Taxes payable	4,562		3,039
Total liabilities	¥ 5,892,255		¥ 2,811,545

Loans Receivable, Net - Sched_5

Loans Receivable, Net - Schedule of Results of Operations and Cash Flows of Trusts (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Loans And Leases Receivable Disclosure [Line Items]
Net profit attributable to PPDai Group Inc.	¥ 2,372,850	$ 340,838	¥ 2,469,074	¥ 1,082,983
Net increase in cash, cash equivalents and restricted cash	717,024	102,995	1,010,017	3,076,139
Cash, cash equivalents and restricted cash at beginning of year	5,293,721	760,395	4,283,704	1,207,565
Cash, cash equivalents and restricted cash at end of year	6,010,745	$ 863,390	5,293,721	4,283,704
YN Trust I, YN Trust II, Fotic Trust I, Fotic Trust II and Fotic Trust III [Member]
Loans And Leases Receivable Disclosure [Line Items]
Net revenue	(243,795)		(164,082)	(28,372)
Net profit attributable to PPDai Group Inc.				(44,396)
Net cash used in operating activities	(78,339)		(18,008)	(16,024)
Net cash used in investing activities	(1,290,842)		(1,624,784)	(615,971)
Net cash provided by financing activities	1,865,160		1,901,684	675,654
Net increase in cash, cash equivalents and restricted cash	495,979		258,892	43,659
Cash, cash equivalents and restricted cash at beginning of year	303,667		44,775	1,116
Cash, cash equivalents and restricted cash at end of year	¥ 799,646		¥ 303,667	¥ 44,775

Loans Receivable, Net - Sched_6

Loans Receivable, Net - Schedule of Breakdown of funds payable to investors of consolidated trusts (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Institutional funding partners [Member]
Schedule of Breakdown of funds payable to investors of consolidated trusts [Line Items]
Investment principal amount	¥ 3,529,785	¥ 1,493,916
Accrued interest	130,698	11,993
Total	3,660,483	1,505,909
The Group [Member]
Schedule of Breakdown of funds payable to investors of consolidated trusts [Line Items]
Investment principal amount	1,316,130	1,093,610
Accrued interest	911,080	208,987
Total	¥ 2,227,210	¥ 1,302,597

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets - Receivables, Prepayments and Other Assets (Detail) ¥ in Thousands, $ in Thousands		Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Prepaid Expense and Other Assets [Abstract]
Security deposits	[1]	¥ 1,108,146		¥ 60,052
Prepaid rental deposits		100,125		92,922
Prepaid online marketing expenses		17,701		25,975
Advances		14,220		19,517
Convertible loan	[2]	20,000
Others		130,831		23,327
Prepaid expense and other assets		¥ 1,391,023	$ 199,806	¥ 221,793
[1]	The balances represent security deposits set aside as requested by certain institutional funding partners, held in deposit accounts with the institutional funding partners.
[2]	In 2019, the Group agrees to grant a RMB20,000 loan, which can be extend to RMB40,000, to Shanghai Qiaopan Technology Company Limited (“Qiaopan”), a third party company founded by a former employee of the Group. Together with the loan agreement, the Group agrees to lent certain equipment amounting to RMB8,000 to Qiaopan. The loan and equipment are convertible into a minority interest in Qiaopan upon occurrence of certain events in 2020. If Qiaopan fails to fulfill such events, Qiaopan is obligated to repay loan at a 8% interest rate and pay a rental fee of certain percentage on the equipment amount for its usage of the equipment. The Group considered this arrangement and concluded although Qiaopan meets the definition of VIE, the Group does not need to consolidate Qiaopan in its consolidated financial statements as the Group does not have power to direct the activities of Qiaopan.

Prepaid Expenses and Other As_4

Prepaid Expenses and Other Assets - Receivables, Prepayments and Other Assets (Parenthetical) (Detail) ¥ in Thousands	Dec. 31, 2019CNY (¥)
Prepaid Expenses And Other Assets [Line Items]
Convertible loan receivable	¥ 20,000	[1]
Shanghai Qiaopan Technology Company Limited [Member]
Prepaid Expenses And Other Assets [Line Items]
Convertible loan receivable	20,000
Convertible loan receivable, extended maximum capacity	40,000
Other equipment loans receivable	¥ 8,000
Interest rate	8.00%
[1]	In 2019, the Group agrees to grant a RMB20,000 loan, which can be extend to RMB40,000, to Shanghai Qiaopan Technology Company Limited (“Qiaopan”), a third party company founded by a former employee of the Group. Together with the loan agreement, the Group agrees to lent certain equipment amounting to RMB8,000 to Qiaopan. The loan and equipment are convertible into a minority interest in Qiaopan upon occurrence of certain events in 2020. If Qiaopan fails to fulfill such events, Qiaopan is obligated to repay loan at a 8% interest rate and pay a rental fee of certain percentage on the equipment amount for its usage of the equipment. The Group considered this arrangement and concluded although Qiaopan meets the definition of VIE, the Group does not need to consolidate Qiaopan in its consolidated financial statements as the Group does not have power to direct the activities of Qiaopan.

Prepaid Expenses and Other As_5

Prepaid Expenses and Other Assets - Additional Information (Detail) - Shanghai Qiaopan Technology Company Limited [Member] ¥ in Thousands	Dec. 31, 2019CNY (¥)
Prepaid Expenses And Other Assets [Line Items]
Amount of guarantee	¥ 100,000
Maximum [Member]
Prepaid Expenses And Other Assets [Line Items]
Percent of reserve pool on lending amount	10.00%
Minimum [Member]
Prepaid Expenses And Other Assets [Line Items]
Percent of reserve pool on lending amount	5.00%

Property, Equipment and Softw_3

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software, Net (Detail) ¥ in Thousands, $ in Thousands		Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Property Plant And Equipment [Line Items]
Property, equipment and software, gross		¥ 272,363		¥ 224,329
Less: Accumulated depreciation and amortization	[1]	(138,039)		(80,327)
Property, equipment and software, net		134,324	$ 19,294	144,002
Computer and Electronic Equipment [Member]
Property Plant And Equipment [Line Items]
Property, equipment and software, gross		166,019		126,842
Office Furniture and Equipment [Member]
Property Plant And Equipment [Line Items]
Property, equipment and software, gross		15,993		13,843
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property, equipment and software, gross		56,554		55,575
Software [Member]
Property Plant And Equipment [Line Items]
Property, equipment and software, gross		¥ 33,797		¥ 28,069
[1]	Depreciation and amortization expenses for the years ended December 31, 2017, 2018 and 2019 was RMB22,555, RMB42,162 and RMB, respectively.

Property, Equipment and Softw_4

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software, Net (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Property, Plant and Equipment [Abstract]
Depreciation and amortization	¥ 57,712	$ 8,290	¥ 42,162	¥ 22,555

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Detail) - CNY (¥) ¥ in Thousands		Dec. 31, 2019	Dec. 31, 2018
Indefinite Lived Intangible Assets By Major Class [Line Items]
Identifiable intangible asset		¥ 68,880	¥ 68,880
Less: Accumulated amortization and impairment		(4,600)
Intangible assets		64,280	68,880
Micro-Lending License [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Identifiable intangible asset		63,760	63,760
Financing Guarantee License [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Identifiable intangible asset	[1]	4,600	4,600
Factoring License [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Identifiable intangible asset	[1]	265	265
Financial Leasing License [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Identifiable intangible asset	[1]	¥ 255	¥ 255
[1]	The Group acquired Shenzhen Rongze Commerecial Co., Ltd, Zhongyu Financial Leasing and Zhongyisheng Financial Guarantee Co., Ltd. in 2018. The acquisitions met the “single or similar asset threshold” and are not considered as business combination in accordance with ASC Topic 805. In 2019, the financial guarantee licenses related to Zhongyisheng Financial Guarantee Co., Ltd. was revoked and therefore full impairment was provided.

Accounts Receivable and Contr_3

Accounts Receivable and Contract Assets - Accounts Receivable and Related Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Receivables [Abstract]
Accounts receivable (adjusted, Note 2(ah))	¥ 1,028,004		¥ 862,586
Allowance for doubtful accounts (adjusted, Note 2(ah))	(145,699)		(50,544)
Accounts receivable, net	¥ 882,305	$ 126,735	¥ 812,042

Accounts Receivable and Contr_4

Accounts Receivable and Contract Assets - Summary of aging of past-due accounts receivable (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Current	¥ 860,681	¥ 790,130
Accounts receivable	1,028,004	862,586
Loan Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Current	793,608	765,354
Accounts receivable	933,904	828,121
Post Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Current	38,710	10,310
Accounts receivable	65,737	19,999
Other [Member]
Financing Receivable, Past Due [Line Items]
Current	28,363	14,466
Accounts receivable	28,363	14,466
1-89 days past due [member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	90,365	42,965
1-89 days past due [member] | Loan Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	78,878	38,768
1-89 days past due [member] | Post Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	11,487	4,197
90-119  days past due [member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	27,014	9,882
90-119  days past due [member] | Loan Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	22,058	8,193
90-119  days past due [member] | Post Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	4,956	1,689
120-149 days past due [member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	25,678	9,963
120-149 days past due [member] | Loan Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	20,440	8,086
120-149 days past due [member] | Post Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	5,238	1,877
150-179 days past due [member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	24,266	9,646
150-179 days past due [member] | Loan Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	18,920	7,720
150-179 days past due [member] | Post Facilitation [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable	¥ 5,346	¥ 1,926

Accounts Receivable and Contr_5

Accounts Receivable and Contract Assets - Schedule of Movement of Provision for Accounts Receivable (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Beginning balance	¥ 50,544
Impact due to adoption of new revenue standard		¥ 16,501
Current period accrual	274,375	107,352
Current period reversal	(12,493)	(700)
Current period write-off	(166,727)	(72,609)
Ending balance	¥ 145,699	¥ 50,544

Accounts Receivable and Contr_6

Accounts Receivable and Contract Assets - Schedule of Contract with Customer Assets (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Contract with Customer, Asset and Liability [Line Items]
Contract with customer, asset, Net	¥ 20,555	$ 2,952	¥ 112,103
Investment Advisory, Management and Administrative Service [Member]
Contract with Customer, Asset and Liability [Line Items]
Contract with customer, asset, Net	¥ 20,555		110,321
Contract Acquisition Cost [Member]
Contract with Customer, Asset and Liability [Line Items]
Contract with customer, asset, Net			¥ 1,782

Accounts Receivable and Contr_7

Accounts Receivable and Contract Assets - Schedule of Movement of Contract Assets (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Receivables [Abstract]
Beginning balance	¥ 112,103
Impact due to adoption of new revenue standard			¥ 53,084
Recognition of investment management fee	109,423		208,471
Recognition of contract acquisition cost			4,186
Settlement upon maturity of investment programs	(199,189)		(146,483)
Settlement upon fulfilment of contract	(1,782)		(7,155)
Ending balance	¥ 20,555	$ 2,952	¥ 112,103

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Amount of employee benefits charged	¥ 144,596	¥ 143,078	¥ 128,554

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Detail) ¥ in Thousands, $ in Thousands		Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Accrued Expenses And Other Liabilities [Abstract]
Funds payable to financial institution partners	[1]	¥ 95,643		¥ 7,490
Accrued marketing expense		45,616		113,568
Accrued collection service fee		35,358		15,005
Accrued technical services expense		20,945		16,510
Accrued payment channel expenses		18,620		25,728
Accrued professional service fee		16,270		16,441
Others		55,173		27,777
Total accrued expenses and other liabilities		¥ 287,625	$ 41,315	¥ 222,519
[1]	The balance of payable mainly includes funds received from borrowers but not yet transferred to the institutional funding partners due to the settlement time lag.

Related Party Balances and Tr_3

Related Party Balances and Transactions - Summary of Amount Incurred by the Group (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
PP Credit Data Service Shanghai Company Limited [Member] | Data Collection Service [Member]
Related Party Transaction [Line Items]
Data collection service expense	¥ 43,494	¥ 109,666	¥ 84,362

Related Party Balances and Tr_4

Related Party Balances and Transactions - Summary of Amounts Due to Related Party (Detail) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Related Party Transaction [Line Items]
Amounts due to related parties	¥ 4,309	$ 619
PP Credit Data Service Shanghai Company Limited [Member]
Related Party Transaction [Line Items]
Amounts due to related parties	¥ 4,309

Related Party Balances and Tr_5

Related Party Balances and Transactions - Summary of Loan Extended to Related Party (Detail) ¥ in Thousands	Dec. 31, 2018CNY (¥)
Related Party Transaction [Line Items]
Amounts due from related party	¥ 2,830
Service Agreements [Member] | PP Credit Data Service Shanghai Company Limited [Member]
Related Party Transaction [Line Items]
Amounts due from related party	¥ 2,830

Taxation - Additional Informati

Taxation - Additional Information (Detail) $ in Thousands	Apr. 14, 2008	Mar. 16, 2007	Jan. 31, 2018	Aug. 31, 2006	Dec. 31, 2018CNY (¥)	Sep. 30, 2018CNY (¥)	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Line Items]
Profits tax rate							17.00%	17.00%	6.00%	20.00%
Cash paid for income taxes							¥ 145,825,000	$ 20,946	¥ 180,233,000	¥ 216,060,000
Preferential statutory tax rate for high and new technology enterprises									15.00%	15.00%	15.00%	15.00%	15.00%	15.00%
Period of full tax exemption			2 years
Income taxes reduction percentage			50.00%
Income tax reduction period			3 years
Significant unrecognized tax benefits					¥ 0		0		¥ 0
Significant change in unrecognized tax benefits within 12 months					0		0		¥ 0
Provision made for dividend withholding taxes							¥ 0
Reversal of income tax expense					¥ 268,051,000	¥ 131,627,000				¥ 136,424,000
Tax loss carry-forward limitation period							The applicable carry-forward limitation period is 5 years under the PRC EIT law.	The applicable carry-forward limitation period is 5 years under the PRC EIT law.
Subsidiaries [Member]
Income Tax Disclosure [Line Items]
Total tax loss carry forwards							¥ 64,655,000,000
Earliest Tax Year [Member]
Income Tax Disclosure [Line Items]
Tax loss carry forwards, expiration year							2020	2020
Latest Tax Year [Member]
Income Tax Disclosure [Line Items]
Tax loss carry forwards, expiration year							2024	2024
PRC Subsidiary [Member]
Income Tax Disclosure [Line Items]
Statutory tax rate		25.00%
Preferential statutory tax rate for high and new technology enterprises	15.00%
Percentage of income tax rate for its global income							25.00%	25.00%
Foreign investment enterprise tax withholding rate							10.00%	10.00%
Dividend withholding tax							¥ 0
Micro Small Entities [Member]
Income Tax Disclosure [Line Items]
Statutory tax rate			20.00%
Income taxes reduction percentage			50.00%
Hong Kong [Member]
Income Tax Disclosure [Line Items]
Profits tax rate										16.50%	16.50%
Cash paid for income taxes										¥ 0	¥ 0
Estimated assessable profits tax										¥ 0	¥ 0
Hong Kong [Member] | Maximum [Member]
Income Tax Disclosure [Line Items]
Foreign investment enterprise tax withholding rate				5.00%
Hong Kong [Member] | PRC Subsidiary [Member] | Minimum [Member]
Income Tax Disclosure [Line Items]
Minimum foreign investor direct ownership percentage to be subject to maximum tax of 5%				25.00%

Taxation - Schedule of Current

Taxation - Schedule of Current and Deferred Portions of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Income Tax Disclosure [Abstract]
Current income tax expenses	¥ 390,080		¥ 94,787	¥ 371,354
Deferred income tax expense (benefit)	91,882		56,419	(96,643)
Total	¥ 481,962	$ 69,230	¥ 151,206	¥ 274,711

Taxation - Summary of Reconcili

Taxation - Summary of Reconciliation Between the Computed Expected Tax Expense (Benefit) Rate and the Effective Income Tax Rate (Detail)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory tax rate		25.00%	25.00%	25.00%
Research and development tax credit		(3.00%)	(2.00%)	(2.00%)
Effect of tax holiday	[1]	(7.00%)	(19.00%)	(6.00%)
Change in valuation allowance		1.00%
Non-deductible expenses		1.00%	2.00%	2.00%
Others				1.00%
Effective income tax rate		17.00%	6.00%	20.00%
[1]	Although the subsidiary approved the Software Enterprise Status is entitled to enjoy full exemption from EIT for two years from 2017, it is also subject to the annual tax inspection which was finally settled in 2018. As a result, the Group reversed a total of RMB268,051 tax expenses in the fourth quarter of 2018 including RMB136,424 related to the tax expenses of 2017 and RMB131,627 related to the tax expenses for first three quarters of 2018, which were recorded as tax payable in the balance sheet.

Taxation - Summary of Aggregate

Taxation - Summary of Aggregate Amount and Per Share Effect of Tax Holidays (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax holiday effect	¥ 202,923	¥ 460,333	¥ 153,908
Net income per share effect - Basic	¥ 0.13	¥ 0.31	¥ 0.20
Net income per share effect - Diluted	¥ 0.13	¥ 0.29	¥ 0.20

Taxation - Significant Componen

Taxation - Significant Components of Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Timing difference in revenue recognition for transaction service fee	¥ 62,718	¥ 63,733
Provision for accounts receivable and loans receivable	49,827	52,207
Net accumulated losses-carry forward	15,166	38,851
Payroll and welfare payable and other temporary difference	8,274	8,115
Less: valuation allowance	(6,245)	(40,143)	¥ (21,538)	¥ (2,906)
Total deferred tax assets	129,740	122,763
Deferred tax liabilities:
Quality assurance payable	(34,367)	(41,799)
Intangible assets arisen from business combination	(15,940)	(15,940)
Investor reserve funds	(15,523)	(23,287)
Unrealized gain in consolidated trusts	(130,009)
Other taxable temporary difference	(3,083)	(19,038)
Total deferred tax liabilities	(198,922)	(100,064)
Net deferred tax assets (liabilities)		¥ 22,699
Net deferred tax liabilities	¥ (69,182)

Taxation - Movement of Valuatio

Taxation - Movement of Valuation Allowances (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
At beginning of year	¥ 40,143	¥ 21,538	¥ 2,906
Current year additions	741	22,585	18,688
Current year reversals	(34,639)	(3,980)	(56)
At end of year	¥ 6,245	¥ 40,143	¥ 21,538

Ordinary shares and treasury _2

Ordinary shares and treasury stock - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands	Nov. 10, 2017CNY (¥)shares	Nov. 10, 2017USD ($)$ / sharesshares	Jun. 30, 2012USD ($)$ / sharesshares	Dec. 31, 2019CNY (¥)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017CNY (¥)	Oct. 20, 2017$ / shares
Class of Stock [Line Items]
Authorized share capital | $			$ 50,000
Ordinary and preferred shares authorized			5,000,000,000
Ordinary stock, authorized			4,266,159,600
Ordinary stock, par value | $ / shares			$ 0.00001		$ 0.00001				$ 0.00001
Preferred stock, shares authorized			733,840,400
Common stock shares redesignated			4,000,000
Issuance of ordinary shares upon Initial Public Offering ("IPO") and Concurrent Private Placement ("CPP"), net of expense | ¥								¥ 1,677,222
Ordinary stock, shares issued					1,550,071,169
Stock Repurchased, Value | ¥				¥ 47,173		¥ 452,262
Treasury Stock [Member]
Class of Stock [Line Items]
Issuance of ordinary shares for share-based compensation plans				(17,000,000)	(17,000,000)	(30,000,000)	(30,000,000)
Stock repurchased, Shares				(12,729,500)	(12,729,500)	(60,306,360)	(60,306,360)
Stock Repurchased, Value | ¥				¥ 47,173		¥ 452,262
Exercise of share-based compensation plans, shares				55,396,235	55,396,235	44,005,360	44,005,360
Shares not in use and not outstanding					20,634,265		46,301,000
Class A Ordinary Shares [Member]
Class of Stock [Line Items]
Ordinary stock, authorized					10,000,000,000		10,000,000,000
Ordinary stock, par value | $ / shares					$ 0.00001		$ 0.00001
Preferred stock shares converted and designated			1
Common stock shares redesignated			1
Ordinary stock, shares issued					964,071,169		874,071,169
Issuance of ordinary shares for share-based compensation plans				17,000,000	17,000,000	30,000,000	30,000,000
Stock repurchased, Shares				12,729,500	12,729,500	60,306,360	60,306,360
Stock Repurchased, Value				¥ 47,173	$ 6,802	¥ 452,262	$ 67,622
Weighted Average Price per shares | $ / shares					$ 0.53		$ 1.12
Class B Ordinary Shares [Member]
Class of Stock [Line Items]
Ordinary stock, authorized					10,000,000,000		10,000,000,000
Ordinary stock, par value | $ / shares					$ 0.00001		$ 0.00001
Preferred stock shares converted and designated			1
Ordinary stock, shares issued					586,000,000		659,000,000
Ordinary stock, shares sold				73,000,000	73,000,000	2,000,000	2,000,000
IPO [Member] | Class A Ordinary Shares [Member]
Class of Stock [Line Items]
"Issuance of ordinary shares upon Initial Public Offering (""IPO"") and Concurrent Private Placement (""CPP""), net of expense, Shares "	85,000,000	85,000,000
Common stock shares sold price per share | $ / shares		$ 2.6
Issuance of ordinary shares upon Initial Public Offering ("IPO") and Concurrent Private Placement ("CPP"), net of expense	¥ 1,464,800	$ 221,000
IPO [Member] | American Depositary Shares [Member]
Class of Stock [Line Items]
"Issuance of ordinary shares upon Initial Public Offering (""IPO"") and Concurrent Private Placement (""CPP""), net of expense, Shares "	17,000,000	17,000,000
Common stock shares sold price per share | $ / shares		$ 13
Private Placement [Member] | Class A Ordinary Shares [Member]
Class of Stock [Line Items]
"Issuance of ordinary shares upon Initial Public Offering (""IPO"") and Concurrent Private Placement (""CPP""), net of expense, Shares "	19,230,769	19,230,769
Issuance of ordinary shares upon Initial Public Offering ("IPO") and Concurrent Private Placement ("CPP"), net of expense	¥ 331,400	$ 50,000
Private Placement [Member] | American Depositary Shares [Member]
Class of Stock [Line Items]
"Issuance of ordinary shares upon Initial Public Offering (""IPO"") and Concurrent Private Placement (""CPP""), net of expense, Shares "	3,846,154	3,846,154

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Shares - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands	Oct. 20, 2017$ / sharesshares	Feb. 09, 2015USD ($)$ / sharesshares	Feb. 13, 2014USD ($)$ / sharesshares	Sep. 13, 2012USD ($)$ / sharesshares	Dec. 31, 2019CNY (¥)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2019$ / shares	Dec. 31, 2018$ / shares	Dec. 31, 2017$ / shares	Jun. 30, 2012$ / shares
Temporary Equity [Line Items]
Convertible redeemable preferred shares, issued, price per share | $ / shares								$ 0.5300	$ 0.7200	$ 1.422
Share split, description					Each of ordinary share and preferred share of the Company was subdivided into 100 shares at a par value of US$0.00001
Preferred stock shares converted and designated	100
Ordinary shares, par value | $ / shares	$ 0.00001							$ 0.00001			$ 0.00001
Preferred shares, par value | $ / shares	$ 0.00001
Preferred shares accretion recognized | ¥					¥ 0	¥ 0	¥ 3,073,471
Series A Convertible Redeemable Preferred Shares [Member]
Temporary Equity [Line Items]
Convertible redeemable preferred shares, issued | shares				2,850,000
Proceeds from issuance of convertible redeemable preferred shares | $				$ 4,560
Convertible redeemable preferred shares, issued, price per share | $ / shares				$ 1.60
Convertible redeemable preferred shares, outstanding | shares	285,000,000
Series B Convertible Redeemable Preferred Shares [Member]
Temporary Equity [Line Items]
Convertible redeemable preferred shares, issued | shares			2,142,857
Proceeds from issuance of convertible redeemable preferred shares | $			$ 15,000
Convertible redeemable preferred shares, issued, price per share | $ / shares			$ 7
Convertible redeemable preferred shares, outstanding | shares	214,285,700
Series C Convertible Redeemable Preferred Shares [Member]
Temporary Equity [Line Items]
Convertible redeemable preferred shares, issued | shares		2,345,547
Proceeds from issuance of convertible redeemable preferred shares | $		$ 46,667
Convertible redeemable preferred shares, issued, price per share | $ / shares		$ 19.90
Convertible redeemable preferred shares, outstanding | shares	234,554,700

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) ¥ in Thousands	Oct. 20, 2017	Oct. 31, 2017shares	Jun. 30, 2013shares	Dec. 31, 2019CNY (¥)	Dec. 31, 2019CNY (¥)$ / shares	Dec. 31, 2018CNY (¥)	Dec. 31, 2018$ / shares	Dec. 31, 2017CNY (¥)	Dec. 31, 2017$ / shares	Dec. 31, 2019$ / shares	Apr. 30, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share split, conversion ratio	100
Share based compensation expenses				¥ 22,118		¥ 44,490		¥ 65,324
Unrecognized compensation cost				¥ 38,055	¥ 38,055
Weighted average recognition period				1 year 6 months 21 days
Per Share fair value of ordinary shares | $ / shares							$ 0.7200		$ 1.422	$ 0.5300
Weighted average grant-date per-share fair value of options granted | $ / shares					¥ 0.2355		$ 0.7595		$ 0.2599
Share-based Payment Arrangement, Expense, Tax Benefit				¥ 0		¥ 0		0
2017 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares issued under share incentive plan | shares		1,000,000,000
Share split, conversion ratio		100
Paifenle Plan [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved stock option | shares											15,000,000
Paifenle Plan [Member] | Discontinued Most of Operation of Shanghai Paifenle Internet Technology Company Limited [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses								40,828
2013 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares issued under share incentive plan | shares			221,917,800
Share split, conversion ratio			100
Employee Stock Option [Member] | 2017 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period						4 years
Employee Stock Option [Member] | Paifenle Plan [Member] | Officer and Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved stock option | shares											11,650,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses				¥ 20,142		¥ 5,829		¥ 0
Weighted average recognition period				2 years 11 months 4 days
Unrecognized compensation cost of unvested restricted shares				¥ 65,829	¥ 65,829
Restricted Stock Units (RSUs) [Member] | 2017 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period						4 years
Restricted Stock Units (RSUs) [Member] | Paifenle Plan [Member] | Officer and Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved stock option | shares											3,350,000
IPO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expenses				¥ 61,544

Share-based Compensation - Sche

Share-based Compensation - Schedule of Stock Option Shares Activities (Detail) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Beginning Balance	95,653,205	131,641,800	112,570,000
Options, Granted	19,275,000	12,039,050	26,610,000
Options, Canceled/Forfeited	(6,490,415)	(3,722,285)	(7,538,200)
Options,Expired		(300,000)
Options,Exercised	(53,873,360)	(44,005,360)
Options Outstanding, Ending Balance	54,564,430	95,653,205	131,641,800	112,570,000
Options Outstanding, Vested and expected to vest	53,286,128
Outstanding, Weighted Average Exercise Price, Beginning balance	$ 0.2214	$ 0.1108	$ 0.0650
Options Outstanding, Exercisable	14,156,930
Granted, Weighted Average Exercise Price	$ 0.6540	0.8942	0.3020
Canceled/Forfeited, Weighted Average Exercise Price	0.5964	0.1930	0.0967
Expired, Weighted Average Exercise Price		0.0040
Exercised, Weighted Average Exercise Price	0.0977	0.0543
Outstanding, Weighted Average Exercise Price, Ending balance	0.4519	$ 0.2214	$ 0.1108	$ 0.0650
Vested and expected to vest, Weighted Average Exercise Price	0.4523
Exercisable, Weighted Average Exercise Price	$ 0.3075
Outstanding, Weighted Average Remaining Contractual Life	2 years 6 months 3 days	2 years 2 months 1 day	2 years 8 months 8 days	3 years 4 months 13 days
Vested and expected to vest, Weighted Average Remaining Contractual Life	2 years 6 months 3 days
Exercisable, Weighted Average Remaining Contractual Life	1 year 6 months 14 days
Outstanding, Aggregate Intrinsic Value	$ 4,264	$ 47,689	$ 172,618	$ 22,688
Vested and expected to vest, Aggregate Intrinsic Value	4,143
Exercisable, Aggregate Intrinsic Value	$ 3,221

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Fair Value of Each Option Granted Estimated Using Binomial Model Assumption (Detail) - Incentive Shares Plan [Member] - ¥ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum		2.52%	1.97%
Risk-free interest rate, maximum	2.62%	2.75%	2.04%
Expected life (in years)	5 years	5 years	5 years
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum	38.01%	37.74%	39.00%
Expected volatility, maximum		38.74%	41.90%
Exercise multiple			¥ 2.8
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise multiple	¥ 2.2	¥ 2.2
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise multiple	¥ 2.8	¥ 2.8

Share-based compensation - Summ

Share-based compensation - Summary of Restricted Stock Units Activities Under All Incentive Plans (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs unvested at beginning of period	7,551,480	7,822,280
Number of RSUs, granted	9,406,495
Number of RSUs, vested	(1,534,570)
Number of RSUs, Canceled/forfeited	(3,399,610)	(270,800)
Number of RSUs unvested at end of period	12,023,795
Weighted-average grant date fair value at beginning of period	$ 1.4416	$ 1.4375
Weighted-average grant date fair value, granted	0.7353
Weighted-average grant date fair value, vested	1.4645
Weighted-average grant date fair value, Canceled/forfeited	1.0740	$ 1.3233
Weighted-average grant date fair value at end of period	$ 0.9880

Net income (loss) per share - A

Net income (loss) per share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Series A Series B and Series C Preference Shares Convertible into Ordinary Shares [Member]
Earnings Per Share [Line Items]
Shares that anti-dilutive and excluded from the calculation of diluted net loss per share on weighted average basis	11,302,024	631,303,796

Net income (loss) per share - S

Net income (loss) per share - Schedule of Computation of Earnings Per Share (Detail) ¥ / shares in Units, $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)¥ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)¥ / sharesshares	Dec. 31, 2017CNY (¥)¥ / sharesshares
Numerator:
Net profit (loss) attributable to PPDai Group Inc.	¥ 2,372,850,000	$ 340,838	¥ 2,469,074,000	¥ 1,082,983,000
Accretion on convertible redeemable preferred shares redemption value				(3,073,471,000)
Net income (loss) attributable to ordinary shareholders - basic	¥ 2,372,850,000		¥ 2,469,074,000	¥ (1,990,488,000)
Denominator:
Weighted average number of ordinary shares outstanding - basic | shares	1,525,814,189	1,525,814,189	1,498,780,165	779,804,270
Net income (loss) per share attributable to ordinary shareholders - basic | (per share)	¥ 1.5551	$ 0.2234	¥ 1.6474	¥ (2.5525)
Net income (loss) attributable to ordinary shareholders	¥ 2,372,850,000	$ 340,838	¥ 2,469,074,000	¥ (1,990,488,000)
Weighted average number of ordinary shares outstanding - diluted | shares	1,552,423,060	1,552,423,060	1,599,592,231	779,804,270
Net Income (Loss) Available to Common Stockholders, Diluted	¥ 1,528.5000		¥ 1,543.6000	¥ (2,552.5000)
Employee Stock Option [Member]
Denominator:
Ordinary shares issuable using treasury stock method | shares	23,831,652	23,831,652	98,670,254
Restricted Stock Units (RSUs) [Member]
Denominator:
Ordinary shares issuable using treasury stock method | shares	2,777,219	2,777,219	2,141,812
Series A Convertible Redeemable Preferred Shares [Member]
Numerator:
Accretion on convertible redeemable preferred shares redemption value				(1,237,274,000)
Series B Convertible Redeemable Preferred Shares [Member]
Numerator:
Accretion on convertible redeemable preferred shares redemption value				(905,861,000)
Series C Convertible Redeemable Preferred Shares [Member]
Numerator:
Accretion on convertible redeemable preferred shares redemption value				¥ (930,336,000)

Short-term borrowings - Additio

Short-term borrowings - Additional Information (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)
Short-term Debt [Line Items]
Short-term bank borrowings	¥ 235,000		¥ 25,000
Short term debt	235,000	$ 33,756	25,000
Collateral Pledged [Member]
Short-term Debt [Line Items]
Short term debt	¥ 251,853		¥ 26,000
Weighted Average [Member]
Short-term Debt [Line Items]
Short term borrowings interest rate	4.27%	4.27%	3.63%

Leases - Summary of lease cost

Leases - Summary of lease cost (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)
Lease, Cost [Abstract]
Amortization of right-of-use assets	¥ 44,190
Interest of lease liabilities	5,183
Expenses for short-term leases within 12 months	1,499
Total lease cost	¥ 50,872

Leases - Summary of supplementa

Leases - Summary of supplemental cash flow (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)
Cash paid for amounts included in the measurement of lease liabilities:
Operating lease payments	¥ 51,370

Leases - Summary of weighted-av

Leases - Summary of weighted-average remaining lease term and discount rate (Detail)	Dec. 31, 2019
Weighted-average remaining lease term
Operating leases	2 years 5 months 15 days
Weighted-average discount rate
Operating leases	4.75%

Leases - Summary of maturities

Leases - Summary of maturities of lease liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Lessee Operating Lease Liability Maturity [Abstract]
2020	¥ 45,174
2021	40,688
2022	15,285
2023	640
Total undiscounted lease payments	101,787
Less: imputed interest	(16,644)
Total lease liabilities	¥ 85,143	¥ 118,420

Leases - Summary of non-cancell

Leases - Summary of non-cancellable future minimum lease payments (Detail) ¥ in Thousands	Dec. 31, 2018CNY (¥)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019	¥ 58,406
2020	45,077
2021	40,221
2022	14,826
Thereafter	640
Total	¥ 159,170

Restricted Net Assets - Additio

Restricted Net Assets - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract]
Percentage of annual appropriations net of tax income prior to payment of dividends as the statutory general reserve	10.00%
Restricted net assets	¥ 4,577,602
Percentage of restricted net assets	57.10%

Condensed Financial Informati_3

Condensed Financial Information of the Parent Company - Schedule of Condensed Balance Sheet (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Assets
Cash and cash equivalents	¥ 2,324,542	$ 333,900	¥ 1,616,164
Prepaid expenses and other assets	1,391,023	199,806	221,793
Investment in and advances to subsidiaries	96,622		81,000
Total assets	18,304,456	2,629,268	13,142,467
Liabilities and Shareholders' Equity
Accrued expenses and other liabilities	287,625	41,315	222,519
Total liabilities	10,292,976	1,478,494	7,156,729
Shareholders' equity :
Additional paid-in capital	5,640,898	810,265	5,896,017
Treasury stock	(47,174)	(6,777)	(332,121)
Statutory reserves	317,198	45,563	256,006
Accumulated other comprehensive income	70,320	10,097	58,210
Retained earnings	1,966,611	282,486	45,668
Total shareholders' equity	8,011,480	1,150,774	5,985,738		¥ 3,682,188	¥ (438,423)
Total liabilities and shareholders' equity	18,304,456	2,629,268	13,142,467
Parent Company [Member]
Assets
Cash and cash equivalents	157,143	22,572	461,054	$ 66,226	¥ 934,758	¥ 3,420
Prepaid expenses and other assets	4,443	638	4,798
Investment in and advances to subsidiaries	8,223,441	1,181,220	5,476,363
Total assets	8,385,027	1,204,430	5,942,215
Liabilities and Shareholders' Equity
Accrued expenses and other liabilities	437,071	62,781	18,333
Total liabilities	437,071	62,781	18,333
Shareholders' equity :
Additional paid-in capital	5,640,898	810,265	5,896,017
Treasury stock	(47,174)	(6,777)	(332,121)
Statutory reserves	317,198	45,563	256,006
Accumulated other comprehensive income	70,320	10,097	58,210
Retained earnings	1,966,611	282,486	45,668
Total shareholders' equity	7,947,956	1,141,649	5,923,882
Total liabilities and shareholders' equity	8,385,027	1,204,430	5,942,215
Class A Ordinary Shares [Member]
Shareholders' equity :
Ordinary shares	64	9	58
Class A Ordinary Shares [Member] | Parent Company [Member]
Shareholders' equity :
Ordinary shares	64	9	58
Class B Ordinary Shares [Member]
Shareholders' equity :
Ordinary shares	39	6	44
Class B Ordinary Shares [Member] | Parent Company [Member]
Shareholders' equity :
Ordinary shares	¥ 39	$ 6	¥ 44

Condensed Financial Informati_4

Condensed Financial Information of the Parent Company - Schedule of Condensed Balance Sheet (Parenthetical) (Detail) - $ / shares	Dec. 31, 2019	Dec. 31, 2018	Oct. 20, 2017	Jun. 30, 2012
Consolidated Balance Sheet Statements Captions [Line Items]
Ordinary stock, par value	$ 0.00001		$ 0.00001	$ 0.00001
Ordinary stock, authorized				4,266,159,600
Ordinary stock, shares issued	1,550,071,169
Class A Ordinary Shares [Member]
Consolidated Balance Sheet Statements Captions [Line Items]
Ordinary stock, par value	$ 0.00001	$ 0.00001
Ordinary stock, authorized	10,000,000,000	10,000,000,000
Ordinary stock, shares issued	964,071,169	874,071,169
Ordinary Stock, shares outstanding	943,436,904	827,770,169
Class B Ordinary Shares [Member]
Consolidated Balance Sheet Statements Captions [Line Items]
Ordinary stock, par value	$ 0.00001	$ 0.00001
Ordinary stock, authorized	10,000,000,000	10,000,000,000
Ordinary stock, shares issued	586,000,000	659,000,000
Ordinary Stock, shares outstanding	586,000,000	659,000,000
Parent Company [Member]
Consolidated Balance Sheet Statements Captions [Line Items]
Treasury stock,shares	20,634,265	46,301,000
Parent Company [Member] | Class A Ordinary Shares [Member]
Consolidated Balance Sheet Statements Captions [Line Items]
Ordinary stock, par value	$ 0.00001	$ 0.00001
Ordinary stock, authorized	10,000,000,000	10,000,000,000
Ordinary stock, shares issued	964,071,169	874,071,169
Ordinary Stock, shares outstanding	943,436,904	827,770,169
Parent Company [Member] | Class B Ordinary Shares [Member]
Consolidated Balance Sheet Statements Captions [Line Items]
Ordinary stock, par value	$ 0.00001	$ 0.00001
Ordinary stock, authorized	10,000,000,000	10,000,000,000
Ordinary stock, shares issued	586,000,000	659,000,000
Ordinary Stock, shares outstanding	586,000,000	659,000,000

Condensed Financial Informati_5

Condensed Financial Information of the Parent Company - Schedule of Comprehensive Loss (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Operating expenses
Sales and marketing expenses	¥ (720,333)	$ (103,469)	¥ (710,754)	¥ (788,291)
General and administrative expenses	(435,816)	(62,601)	(383,388)	(423,795)
Profits from operations
Other income, net	136,491	19,606	148,356	36,531
Net profit	2,372,850	340,838	2,469,074	1,082,983
Accretion on convertible redeemable preferred shares to redemption value				(3,073,471)
Net profit(loss) attributable to ordinary shareholders	2,372,850	340,838	2,469,074	(1,990,488)
Parent Company [Member]
Operating expenses
Sales and marketing expenses			(2)
General and administrative expenses	(25,590)	(3,675)	(57,448)	(71,189)
Profits from operations
Other income, net	7,898	1,133	21,183	2,515
Share of profit of subsidiaries	2,390,542	343,380	2,505,341	1,151,657
Net profit	2,372,850	340,838	2,469,074	1,082,983
Net profit(loss) attributable to ordinary shareholders	¥ 2,372,850	$ 340,838	¥ 2,469,074	(1,990,488)
Series A Convertible Redeemable Preferred Shares [Member]
Profits from operations
Accretion on convertible redeemable preferred shares to redemption value				(1,237,274)
Series A Convertible Redeemable Preferred Shares [Member] | Parent Company [Member]
Profits from operations
Accretion on convertible redeemable preferred shares to redemption value				(1,237,274)
Series B Convertible Redeemable Preferred Shares [Member]
Profits from operations
Accretion on convertible redeemable preferred shares to redemption value				(905,861)
Series B Convertible Redeemable Preferred Shares [Member] | Parent Company [Member]
Profits from operations
Accretion on convertible redeemable preferred shares to redemption value				(905,861)
Series C Convertible Redeemable Preferred Shares [Member]
Profits from operations
Accretion on convertible redeemable preferred shares to redemption value				(930,336)
Series C Convertible Redeemable Preferred Shares [Member] | Parent Company [Member]
Profits from operations
Accretion on convertible redeemable preferred shares to redemption value				¥ (930,336)

Condensed Financial Informati_6

Condensed Financial Information of the Parent Company - Schedule of Cash Flow Statement (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	¥ (215,522)	$ (30,958)	¥ 1,884,956	¥ 3,409,451
Net cash used in investing activities	(828,219)	(118,966)	(1,447,013)	(2,450,800)
Net cash provided by (used in) financing activities	1,749,512	251,301	530,097	2,132,933
Cash, cash equivalents and restricted cash-beginning of year	1,616,164
Cash, cash equivalents and restricted cash-end of year	2,324,542	333,900	1,616,164
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	8,474	1,217	12,111	(12,178)
Net cash used in investing activities	86,471	12,421	(69,660)	(720,259)
Net cash provided by (used in) financing activities	(401,400)	(57,658)	(438,253)	1,677,222
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2,544	366	22,098	(13,447)
Net increase (decrease) in cash, cash equivalents and restricted cash	(303,911)	(43,654)	(473,704)	931,338
Cash, cash equivalents and restricted cash-beginning of year	461,054	66,226	934,758	3,420
Cash, cash equivalents and restricted cash-end of year	¥ 157,143	$ 22,572	¥ 461,054	¥ 934,758

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Mar. 19, 2020$ / shares
Subsequent Event [Line Items]
Dividend , per share	$ 0.12
Dividends Payable, date to be paid	Apr. 30, 2020
Dividends Payable, date of record	Apr. 7, 2020