YRD - Earnings call transcript Q1 2024

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Operator

Good day, and welcome to the Yiren Digital First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Keyao He, Investor Relations Officer. Please go ahead.

Keyao He

Thank you, operator. Good morning and good evening, everyone. presentation CEO; Founder, Mr. the of and features our CreditEase, call by Chairman the CEO Today's Ning and Tang; our CFO, Ms. Na SVP, Ms. our Mei; and the Mei Q&A us join prepared after Zhao, remarks. in will session the

to like to forward-looking and are U.S. materially subject Such such contain under differ Private Before beginning, Litigation made actual that I remind that can Act this statements provision discussions harbor statements. safe contained uncertainties statements Reform those to factors in you cause the Securities risks, call during of results from XXXX. would of any

the or the in For relevant information Commission. We obligation is regarding and statements Securities any uncertainties future do with the factors as filings update undertake under any risks, to laws. our Exchange not included U.S. forward-looking required

we to certain non-GAAP During isolation considered supplemental with our will measures and and to in presented intended to These or the operating information a performance. to be accordance U.S. not financial be referring measures GAAP. are the non-GAAP review financial assess substitute prepared in and as measures the financial call,

measures about now reconciliation Ning non-GAAP opening to pass financial release. I refer and earnings information For please it of GAAP will remarks. for to our these measures, press

Ning Tang

conference call Thank you for joining our all today. earnings

profitability. continues initiative quarter AI as results to we are during our and healthy our to in overall industry are integration We a the that with business excited begun aspects announce lab traditional another to Moreover, permeate operations. pleased of our yield report maintaining AI solid while scale growth to stable top line has off-season all early in

our to recent performance, business our Before diving into like would highlight branding upgrade. I

to signifying experience. name with technological we've The innovation our customer rebranded [indiscernible]. [indiscernible] [indiscernible] to technology our This AI dedication and As you technology. [indiscernible] or has commitment term our underscores from change been know, enhancing Chinese ongoing meaning our company replaced intelligent may

core Our our clients technology unwavering. to to of value remains leveraging mission deliver

quarter. for through to our like this would business go I Now highlights

decline business, marking the volume XXXX quarter saw services billion, steady total and financial our growth XX% of X.XX in growth. The of the first the consecutive of influenced an year-over-year a growth a a regarding as our million First, borrowers XX.X well emphasis prior strategic loan million with to from quality on increase RMB number higher-quality as a quarter reaching factors seasonal shift and experienced slight fifth segment. by borrower towards quarter, X.XX

Additionally, facilitation seen representing users and increase. intelligent million X.X to APP last also our first our active model the the due has enhanced worth into from our This services XX% interaction a loan Yi to AI engagement. It's up Xiang growth in has surge X.X asset language in telemarketing, improved platform, business model-based mentioning voice integration quarter over a shown boost popularity. quarter, It's to brought loan customer applied proprietary and impressive visible Hua into our large efforts XXXX, has million complete that the monthly which in management been has service, grew customer of efficiency. our Currently, progress. facilitation customer is improvement

are acquisition now to previous phone daily, the our calls able doubling robots customer intelligent over instance, for make For used XXX,XXX volume.

telemarketing of In use AI-powered improvement the robots. our rate conversion addition, through has almost in seen an customer team XX%

growth. achieved them our total Philippine to international XX% and the showing volume market quarter increase momentum showcasing with Meanwhile, a business of XXXX, quarter. In Finally, surpassing to is increase strong previous loan a RMB XX the volume, fine-tune accuracy with has continue been of in the by milestone XX% first million loan monthly in compared data. exceptional our voice has system to models our as more our recognition reached we expected this train ratio and

our Additionally, we costs continue products enhance optimize to and conversion as acquisition customer our in a we've seen rate. continued decline

by decreased double Specifically, overseas the March cost extensively to AI digits borrowers January. Furthermore, operations technology. our compared of leverage acquiring in

are For drop models antifraud detecting highly image ]. our [ AI in effective example,

detection model, significantly efficiency, accuracy our rate XX%, losses. AI and accuracy of mobile reducing white models Our both of rate black management an enhanced screenshot document XX%. These potential risk model detection have over and fraud achieved an our

Now turning credit portfolio to X.X% In quarter with rate fluctuations. the of to quality. quality to XX- the asset of overall rate rising our the to delinquency XXXX, delinquency loan first due increased XX-day industry-wide

risk However, standards we base fine-tuning and our analysis. customer upgrading AI control our are actively through

customers the decline MX increased new prior increase. The the loan portfolio has in The collection a in borrowers to continued of points assets indicators the continues proportion to started May compared XX as the from to rate to new quarter of and XXXX trend our our of asset result, As quality to first risk downward. of quarter by improve. basis continues overall

to the to On expect of we've company partners credit points experienced of decrease where our the front, year. the cost we Therefore, funding the Moreover, risk-taking In the a loans first quarter the expected XXXX, our consistent previous funding and trend a costs the risk a risk-taking quarter, between continue to of as to in we risk quarters. coming the takes growth. decreased more model, by basis network better compared the the throughout XX funding management of achieve profitability, in proportion grow engaging in and model balance facilitated. is began loans

have decrease slight stronger emphasizes indicating recent Now insurance. In sector. XXXX, regarding towards quarter the insurance a reached focus of impacted of brokerage property premiums over regulatory first and shifting changes quality life profitability our prioritizing XXX improving growth overall total X% year-over-year. quantity, the our the our a business, on million, response, In insurance strategy RMB

annually, life declined industry trends. with XX% premiums by consistent Specifically, insurance

property XX% construction X structure auto year-over-year, million such a a the a a achieving proportion in indicator by industry, to high-quality products resulting innovation product marking X.X% RMB optimized insurance and have capabilities key rise our on compared year performance property in previous past of profitability our enhanced as liability the have stream for generating margin and XXX insurance the insurance of segment, substantially profit XX% improvement the rates. We our in gross and Moreover, by low-margin in average trends been business reducing orders prioritizing over increased within as we of revenue, by peak the premiums customization recognized However, focusing pipeline. team. insurance our a steady and commission years. Notably, overseas the

our foundation During This within the expansion first suppliers. quarter Insurance Xingyang following program robust our renewal ] insurance begun innovative our deployment initial data secured testing XXXX, AI-driven segmentation. in robot, voice sets of -- and Transportation exploring insurance actively [ [ We've insurance X in providing a is among sector. In Group applications reminder and with AI realm customized its training, the contracts the the innovation business future Investment Hexiang top major ] construction strong integration, currently of operations. services developing and for already our achievement proprietary ran

media first we This media Additionally, our quarter second converted we of In in enter into into social quarter. momentum as progress efforts social the we remains are through XXXX, these RMB making acquisition channels. in premiums. strong the customer significant from million X.X

profitability. we forward, channel to our Moving overall continue will focus strengthening partnerships on and

in quarter customer our However, driven continue increase, making and first pool. is the the life and sector Services future. In by our million expanding total as we segment, reached GMV the to in of XXX insurance attitude a largely remarkable maintained a XXXX the Consumption RMB existing towards foreseeable expected XXX% regulatory Lifestyle impact the conservative year-over-year

structured as penetration current strategy this reiterate base, phases with rate normalize, in to business growth anticipate would prepared we segment X a like As direction is It our up my segments. To steps. gradually to future customer our AI our will our or continue X for we deepen aligning comprehensive the within other I wrap of remarks, foundational development.

Firstly, empowering existing business.

We currently AI doing. segments across driving operations, current we are leveraging and to our improving optimize are outcomes as enhance and all efficiencies

advanced at ecosystem. building capabilities Secondly, AI

While business, we tools, we developed existing capabilities and integrate AI many into have high-value partnerships. our

billion intelligent For made proprietary and industry-wide system first by end our decision-making the XXXX award. of X ] quarter prestigious [ of earned decisions the recognition example, with has had a DTM over

service Data tools industries large outstanding well. but and National at Another among our capabilities together intelligent the model solution customer other Algorithm Financial can enterprises with competition, others. Such just as our honored which and example was optimization language not fine-tuning us solution, with Modeling, Collaboration, serve award is training, the many Industrial AI-driven

we business We and actively access execution. partnership to talent top healthy are technologies. to pipeline have explore build seeking are opportunities built for strategic opportunities. Furthermore, and investment and a keen They better such can help

the Lastly, solid foundation. AI build high-value for relationships exploring long believe run the capabilities native tools, businesses future as about expansion and to goal business serve long-term we and -- mentioned transformation a as AI We strategy. endeavor our the company as commercialization,

approach the we core not AI in Our a competitive past upgrading direction solid business shift that to sudden [indiscernible] but over strategy built of and sharpening decade operations. our is strength a

to shareholders and partners our with journey this a continue to excited future. are We bright embrace

for Na, this will the I will go to through performance quarter. Now who pass it financial

Na Mei

key Thank refer everyone. you, our further call, On this earnings hello, financial on for Ning, and highlights. IR detail. focus will deck and Please to release I our only

a First Services total loan our a RMB premiums a Insurance our gross million, slightly XX% this revenue In deliver billion, reached tried rate increase of continue X% XXXX, of decrease year-over-year. In facilitated to RMB an In grow all, XXX Services strong driven increase year-over-year. RMB which reached Revenue ] solid by Financial year-over-year, million, small to to with from of of total partner loan year-over-year revolving the have demand of XX.X the XX% quarter we high [ representing business XX% X.X segment, the margin. RMB representing our decreased products. Financial written our [indiscernible]. sector,

products, the change, increase which Comprised in to Consequently, the decrease insurance the is insurance As insurance XX% quarter. our million life commission to of overall segment mentioned a products our in earlier, lower, is drop our a products. Ning by our sales, increased the Insurance property by in resulting [indiscernible] regulation by this [indiscernible] sector was local in our the in the revenue property insurance substantial insurance of from life year-over-year rate property offset following portion decrease for an sharply. [indiscernible] other

insurance impact However, In drive quarter will year-over-year, short line RMB of segment, our business in going Consumption [indiscernible], large reached base. life this XXX greatly the XXX% for and total [indiscernible] in by the but Lifestyle an [indiscernible] also increase with term. to the to is persist million, [indiscernible] forward, it representing the our ] consumer revenue [

all consumers our lines. our across a as input business of our of As year combined as mentioned penetration a is well previously, launched this serve segments. business to as number was growth align Therefore, goes the this business segment to in across ago with users [indiscernible] segment

increased to million. On in the the new our enhance due was service RMB expense XX% AI high-quality upgrade primarily development life million to to XXX XX expense Origination to with costs acquiring to side, authorize to innovation. RMB increased technological our our sales segment growth continued and property business This to customers Service primarily in penetration increased customer as the and XXX% of high to driven growth million. and is year-over-year widening we RMB efforts year-over-year and XXX expense Financial mix. Research our XX% insurance. our our rapid the channel marketing by year-over-year of marketing base continue and [ contributed compared The insurance ]

of management due leading RMB representing costs [indiscernible] As as increased costs property and million, net intensities. year-over-year earlier, year-over-year, by cost. XX% for which we a mainly the allowance adjustments, primarily G&A profitability. insurance our mentioned we segment [indiscernible] for additional Moreover, growth adding and receivable risk XX facilitated. Moreover, price loan personnel proportion in our the and multipersonal volume XXX% China billion XXX staff improved and due RMB was quarter, [indiscernible] is to to The to

the have provision to this item new competent model. under [indiscernible] We provision have gradually liability for volume facility loan Therefore, under risk-taking model. we increase [indiscernible] a started to the

] operating profit XXX prior continue loan from prior quarters. from of quarter, XX% this a as this great of quarter, line, Additionally, our [ expect representing strong million the bottom million year. net year. our portfolio to RMB guarantee from cash a The in XX% we in [indiscernible] On the the this increase we growth, for deliver revenue a service model under increase increase coming an

sheet X.X end as this balance billion our of side, with in sheet cash the remains balance robust equivalents and cash RMB the On quarter. of

our in March We USD have With the total our year. the program [indiscernible] XXXX. for already to market end of the million [indiscernible] for shares at deployment the X.X [indiscernible] first purchased of quarter this

business do that, repurchase uncertainties. With which to we'll share questions. our X.X change reprice [indiscernible] and stand [indiscernible], open you. X.X to fundamental second to and its billion and is confidence current year potential. item expand concludes net and margin. quarter This the heavy profit RMB this for of Operator, with direction billion continue marketing now this RMB to Thank our will condition business for subject for remarks. growth [ ] revenue our our company's in of the making We the our

Operator

[Operator ]. from come Instructions] Sancadia Our will [ first question Larson Matthew today of

Matthew Lewton Larson

mean, of I Just a couple comments. another quarter. good

quite generated quite And cash public. of and quarter company's your well I've I've a in involved since in guys you You that been And earnings do over stock conference years. mentioned of after done in bit previous went last I've you out and the calls. quarter.

Chinese So done at well. I'm very Shanghai it of local break Hang price lack against the hoping United done in can here -- kind more Seng you just well. securities the the of out is Working have mainstream -- stock's level. markets interest in the a not States, markets the your and

improving the versus give months. the for kind wind your So face, public wind -- relations you few got to I guys will at back. But speak, your credit you the of your over tremendous last and in so

updates your things and think and catchwords accurate, has your I Your out artificial to that. business, for acquiring algorithms years activities of lending like you've new quite customers used intelligence used some often, on determine put level AI all and You've company which right? are like and

for highlighting us elevated, and the So I'm company and significantly helped recently, the has your glad technology used of hoping your that hasn't higher. but that quite I'm you that stock remained sort gets And next are stock it it's move has legitimate, years.

So right. thank you. All

in was X earnings an lot parts. was other talked It one out that about announcement we've X -- broken However, today I'll or thing, say better. area your a

comparing from a year it one thing. It You're before. just wasn't line the

just to are your listed great improvement. But past of you're the news the get whoever talked we've maybe financing peers XYF instituting in offer using is have your So dividend. do out a in United significant tender States about correctly another just or announced And Qifu, Many dividend. if that JFIN a large a then a a dividend. announced dividend. it QFIN, and I'm Jiayin,

to company, would Xx their do you So and low they're at cash trade like very a returning they wish X your investors. multiple between that. And earnings. I

that for that have a business prospects, on [ or could You balance wouldn't or And well million huge growth raise the $XX your it your but several of would your amount. value model change $XX very sheet, ] really presumably great amount shareholders. cash times your of million stock be

still stock your if suggestion, share you your I interest And thank is outside the another continue well. quarter. So pretty of group could is think your also your But confidence created small. doing I do that good more for that, it. with peer here, Chinese then in buyback I markets is stock have and company in

it So Thank leave you. there. I'll

Ning Tang

Thank thing the is, have we new, One thoughts thing, yes. shareholder very artificial improved it's we that new and will us, you, the do intelligence the And remarks. yes, Matthew. this making for real yes, secondly, like time And some very this nice great suggestion. and -- we continue very, yes real, yes. that. And is is to with of couple communicate your following indeed, public, yes, way A friends, other the

So yes, to the the a we and and for are capture element opportunity. companies, great that well all change have we we conviction will strong this industries positioned --

we've already yes. So embrace results exciting a like initial as AI very seen strategy, we

into there investing great And this creation value intention also buyback to suggestion, report So our we that and lastly, evaluating are. the we friends it are thirdly, yes, further other continue issue is regarding ways. we evaluating in shareholders, suggestion different AI can and friends is believe regarding -- us. And share this and talking you our appreciate will like you we the and other progress. And will really And continue I dividend serve yes. And this with while -- our and shareholder serve best And about is some as the additional regarding shareholders given serving many where we to doing issue. we have hear that, more shareholder future, China.

are we but impact, this growing is internationally. there indeed, So also

-- and we more And in markets. so are

more business is the balanced. So

not a the a but story fintech story, global but AI not story. so story, is an just just story. And China a It's

doing of the can in is best time, well, by I strategy, serve AI -- what are transforming doing terms we think and an strategy, really are in market like I company, may for you player company the of you. to recategorizing we hope And say. terms including capital So we our shareholders, this Thank some business ourselves.

Operator

next question [ of Our will [indiscernible] today Marco come from Zhang Research. ]

Unknown Analyst

This is [indiscernible] Research. from Marco

a story. to answers just So not question following Matthew's Chinese Mr. Tang's earlier,

question is international your business. first So my about

as So in also pretty last Latin a and Southeast Asia, Mexico. mentioned expansion for -- national you year plan earnings big America this call, your expansion into have you

don't Just international quarter business? XXXX? like for how of know your came what's can from I our much disclose your purpose, this by end revenue the target if of you And modeling percentage your

Ning Tang

is Again, being going Thank clear you. truly strategy. our global, global

we at in also are America. see Latin progress And I certain information this let can point. details Southeast more me so Na And whether provide remarks. prepared mentioned making And my very in solid Asia and

Unknown Analyst

offline get this Yes, can it. out. Got maybe and -- and we talk get this

Na Mei

the I [indiscernible] our in mentioned [indiscernible] XXXX, on your our as our XXXX. And business we also higher in will for this overseas quarter compared overseas reference, is last about to XX% year, our And our as basically growth [indiscernible], the we to volume the one of same to can of as Yes, business future quarter. this volume be [indiscernible] we business mentioned by that of yes, year. license our our -- is for quarter, have the -- so business, of our from year, of after business. our the acquired expand think we first year compared we is the international maintain confidence quarter, company. and overseas the clients. actually strategy X for overseas may for for each this And the full overseas second Xx we for last loan first so growth this rate, call quarter main year, our representing And high [indiscernible] than our business mainly look me, information increased in

overall Of quarter to and about revenue. we total volume, whole this is our of forecast to this overseas, to total just of our X% for our of course, But so compared whole not significant the year. have the actually, for of X% total only is year Service expand first million revenue, the revenue the for [indiscernible] for revenue the year, we due it's the Financial

Of the for course, our volume revenue, our margin more also the result. attention has to except our overseas and low we overseas our product will profitability Actually, this put positive in got a product. [indiscernible] quarter,

And confidence finance contribute so have revenue that profit for as hope the we hope this deployment the think your the our useful more margin is information always overseas business revenue. overseas you. profit we end our year, the overall questions. the and can Thank onto I of in and by the

Unknown Analyst

about Perfect. about Yes, that is answers my question And my AI. international your business. second question

launch aim and And you that more sectors. have cash earnings near congratulations Yiren your name Lab in to expand Is in you future? as can And have Fintech selected such much strategic any your any as AI, your as -- call plans also Smart also acquisitions AI you there that you do successful position of changed expertise have last quarter. Chinese in on the progress you So fintech from Tech, beyond disclose? to you you the mentioned to last your verticals there AI stronger

Ning Tang

Thank you.

name And Intelligent like yes, or Tech Chinese AI more new so Yiren Yiren Tech, the yes. -- is

smart. it's but -- So

are now steps. mentioned, doing as are there And I right so what is we X that,

company business, and like risk do well long, even The easy, like and better our businesses to because really operations. an that thing it's we the in first do situation, not there's in so like existing risk, so easy is as need on. really -- know, our our always well, step And competition management you existing AI utilize we management like to

we utilize in to well really AI need future. we time, are so the though, business. At for our And existing the preparing same

for fine-tuning yes. models, between many like actually like example, right, optimizing our companies own of models, industries, capability them training them, and our is For other quite the valuable

also like it's you'd agent, build -- yes, the own we the way the business -- other we many way for So use or and agent, like also them, of industries. in we companies very the say, -- valuable and use our

product product pricing. that are pricing, we right So is the word, like

to capabilities, sell products making tools such can companies, industries. So into we which such other

like, some doing now. At So key strategic native are right and are I one that's like like we time, as yes, the incubation we investment AI opportunities. work mentioned, focusing do thing on same to business looking

but still will of implementation, be more are exploration early stage we and in there coming yes, out. So

acquisitions, on regarding interested report And are way. M&A. smart a will we timely -- a We so so in in doing timely --

one currently indeed there's So actually idea, evaluating. we are

like like position the business first to step, the we -- our use solutions more overall, to it advanced the productizing As looking for also, relationship states, AI opportunities. business in capabilities and investment and our can I which utilizing tools ecosystem in which through share own the a -- to like advanced build more. But M&A. future next do time. are through share Hope strategic the doing smart we AI we progresses certain and second we to And own is business be will I step, are a and in like building think developing is

Unknown Analyst

to hearing good forward strong from news and no quarter, That's And the Operator, Yes. to Great. great Okay. I on hear. we congratulations another questions. company. more again have more look

Operator

[indiscernible], next Our question Private Investor. from today Andrew come a will

Unknown Attendee

a but steel was with the at X.X first quarter-on-quarter. the where even wanted it increased remark that net profit I start X.X trading to earnings, ] or [ price

quarter the XXXX So is previous question first the operations XX% my question -- it's from did cash And why? -- increased and question now. my X net from is by how lower right

Ning Tang

XX%? pardon. the I about your What beg

Unknown Attendee

XX%, net better quarter expect X, happened? this operations? from should X, increased from last why in XX% roughly be X, quarter by X, expect Or we year. X, quarter we The this cash provided X? quarter was wondering Should in -- XX% cash it net net to operations, quarter it cash I performance, cash by quarter better

Na Mei

quarter, year, R&D the its I to year, as trying answer this mentioned, you last last decrease it's XX also million XX question. in [indiscernible] of increase your the the adjustments. will million. mainly a quarter decrease Yes, quarter little year in quarter compared RMB -- in we do of In the actually, development is action price the XXXX. research first fourth and Yes, some this but The our total in last and due compare is to RMB -- take to is active to staffing last to

For staff example, replace to technical lower maybe some replace some higher technical stuff.

is technical some as decrease staff be there quarter. a So cost this the in staff little will

we although plan, a to quarter, decrease. the next target -- However, last R&D whole in and still million the [indiscernible] future. last We this total R&D R&D in R&D and is is is And XXX hope XXX our compared in comprised million years, it's our little X RMB expense to and this XXX million. about enrollment RMB more our have year, RMB the

to put whole still the tank. R&D we [indiscernible] our comprised So year,

Unknown Attendee

provided asked I cash by about net operations. Again, Okay.

and like I happy it's it. increased from But cash So about lot, operations. was It a okay.

question again, your reiterated QX. is, quarter Second last -- XXXX, in I think, in guidance XXXX is,

a a a RMB guidance, -- guidance middle You billion. X.X provided of guidance mid-bound

billion. you QX, target achieve X.X RMB With to X.X you RMB and doing mid-bound continue of billion, the in billion X.X in billion X.X projections RMB of RMB QX current QX if should the

expecting guidance. you're right, the revenue on think I that,

to mid-bound QX? of So guidance QX, succeeded Or question how feeling guidance you revenue is in are because which you reach the upper XXXX that provided will bound you better? my QX, you actually in if

Ning Tang

[indiscernible], please? you Can

Unknown Attendee

Sorry.

you gave So guidance... a

Ning Tang

I'm colleague No. asking respond. my to

Unknown Attendee

apologies. My

understand repeat. don't anything, you If I'll

Na Mei

Yes.

meet quarter, the in like much. a we the year. in the That I But lead the release is [indiscernible] guidance not peak total generally, think is because can China future, revenue we before. business can the [indiscernible] quarter why our of season. see think, the And But Mainland our of it's we can on not we can [indiscernible] increase third assessment, of local released this you XXXX, in our for the volume last total our outlook this revenue for the because current the onwards low season.

the have for to business have whole the our the We confidence in year. contribution

Unknown Attendee

Okay.

guidance, are you price XX.X% in or you powered. also if here AI X.X% anybody revenue increase and this in this mid-bound XX% Just reach have for you trains with call growth

Okay. assets assets sheet, think, My a is other expenses what question. last The It's question My from last balance quarter it increased, a It's the increased from last year-on-year from quarter, XXX good also or prepaid and What question or quite in increasing. [indiscernible]. caused X like caused your million. one current and they other lot. the accounts receivables this Yes. by the lot prepaid increase of is a RMB assets. they assets, expenses think. It's XXX increased thing, and million I a RMB I expenses, prepaid It's that? the hard current

Ning Tang

the Na is details. probably looking into

Unknown Attendee

Okay. Yes.

have lot. So prepaid increased a expenses

Na Mei

Yes. Yes.

consider to our to some development, the by of channel of year So customers the suppliers. like other last business to prepayment -- the compared increase our to among suppliers on lifestyle [indiscernible] wishing some -- we AI last because comprise the end year, [indiscernible] profile of and customer [indiscernible] some our end our set investment presents

prepayment our and fix can our partners customer. So can handle good we other to -- some because with and our releases asset of for work channel the suppliers cooperation good our purpose to

mainly see is fix of sources you supplies and to to in there So can the to due some our our service. increase to or is our [indiscernible]. That about supply the X some and prepayment X months

Unknown Attendee

the you on say you will LTD which maybe the investors? even it Yiren change for from the AI -- Chinese you Mr. name name when or LTD, -- change or the name change also more to you Stock in name. I'm you of eyes actually to change congratulate a whatever and of I'm change York LTD. Again, appears you're to even something, Could the Could New the suggestion, AI see company for question YRD very whatever, digital if the [indiscernible]. in digital AI, Google or also Tang I name Ning to Chinese... results. A AI Exchange the If even name happy the want not or or stock Okay. catch search in actually AI or

Ning Tang

the you, Yiren Yes. the for really a digital idea. Thank English Digital great... like is -- name. Yes. I

Unknown Attendee

see investors investors Chinese the the Chinese name name. see But -- don't the

Chinese You must translate the Google name.

So in We the Exchange, Digital. American investors and they New York name. don't Stock see see AI

Ning Tang

see. I

Okay.

Unknown Attendee

change And question... If think you maybe did about I change -- the name in China did China, one the if have don't more if name in know, you it. you you

Ning Tang

Yes. details, I [indiscernible] prospects And our say name, the look to into bit further will really I banker want investors, a but the investment just shareholders all on decline. not interested right?

is like cap, you goes -- like the term, up just but for So is, not I'm yes, -- if I good name it probably added like your dot-com, short of the it's really my market so sudden so... your experienced sense all the

Unknown Attendee

You it's or In questions Yiren asked something that in the artificial who guy to the Chinese. the the said Artificial Chinese, previous said name... you

Ning Tang

The it. your made my but I English includes original name mainly but the notion, we and [indiscernible] If name because is think Chinese the like we point than is also fintech AI suggested are name, sense I'll fintech. took even more China in Yes, digital fintech, suggest includes but notion, doesn't better the fintech. change about change includes digital

Unknown Attendee

the capital, last whatever, Maybe or you I know, Fintech And as small AI. question don't AI wish. about also and Yiren Okay. AI or

the read You will transcript. to said I have

quarter, you said have this were You but calls so by XXX,XXX model. language an provided AI-powered achievements many

the model Did understand language sales AI an XXX,XXX model language it like as correctly? was there calls? doing rep, or a I but was smart AI? rep So -- selling sales

Ning Tang

[indiscernible] to calls it's Yes. prospect customers. -- out-bond Yes, call I automated think

Unknown Attendee

Okay.

the -- were interesting. this digital of joined they powered bought which by calls, very customers XXX,XXX entered your AI, because Yiren So they or whatever,

Ning Tang

We calls yes. number Yes, them and sign on. these to try made of

Unknown Attendee

Very nice.

your balance they're and our hope and $X though are thank for compared features team, for wonderful build much I the a see to good but hope will And I nice. peanuts whatever. grow cash shareholder the company you even Okay. you to being and you. continue something great to thank so And Have million for day. continue a of continue you it, of execute and also they there very Bye-bye. repurchases, very also you

Operator

will question Our Ro of Peter Bluebird [ next Advisory. today come ] from

Unknown Analyst

founder not call on CEO It's the the quarter. and disappointing second that for consecutive is the

Ning Tang

speaking. Tang company. the the and This founder I'm of the Ning is CEO

Unknown Analyst

Tang. Mr. apologize, I

Ning Tang

been -- questions. company participated talking. did public. a of the have then the a every number went doing yes, lot answered call prepared the conference I I in I and the earnings of actually I've since remarks,

Unknown Analyst

thought Were you were traveling. last I quarter? on you

Ning Tang

us the with and No, colleague, CFO traveling -- Yes. my was she's our now. CFO,

Unknown Analyst

your I capitalization a your because Yes. my all it you that phone. It your so question low of hurting so don't to your a is it's by really fundamentals. some million think cash, instill what $XX probably increase in your faith reason good having balance or not My don't not of you to people CFO, cash. invested lot [indiscernible] understanding small you a bank market do hurts dividend, if and cash return I use changes, your And -- confidence main would shareholder I It's know have dividend you you I have your people But you're be use did should Matthew million overall a capital, in the increase you that said, either money have of And fellow second on and trouble say. good. $XX made it is, having put return I could even but shareholders. And or is with the stock care the treat in at just better shareholders cash. greatly the it of not the shareholder, market more, know question as is like though small all. respect. My would that

XXX XXX billion, other a expenses went RMB CFO I and balance over assets other understand did your you better of increase said, item little prior -- and In sheet. And XXX%. to RMB an your your on asset a bit. understand Mr. fact, largest largest not It's prepaid founder, expenses And I second us assets and your prepaid it that increase? Could as are million from the gentleman expenses than X.X was saying up went What the RMB went down prepaid because other million, tell you the Tang, assets. can CFO? XXX% second

Ning Tang

very your you again -- asking thank all, much of about dividend. for First the

the the yes... this Was the -- about session? there but beginning So I Q&A issue, clear importance at we did you understand my were of of you --

Unknown Analyst

would or I another your consideration. last had Yes, it the stock answer sell And know you I Matthew, that and feedback yes. that our should your to this since it in is X X conference month you was announce keep I if I said hoping heard months for you've months. hear call. to under don't

it. tell still just that you're investigating months us to going X you're another If in

You've had X months to regard with to think today about it and you did nothing dividend. the

Ning Tang

And do provide, can So regarding session. additional good help beginning the And what yes, I Na, can? try the please, I prepaid issue. don't a the out don't you expenses, Q&A know can have this color answer to but at you we job evaluating if repeat my and Na of will

Na Mei

management Yes, I some information our can about cash do can add we currently.

company now example, plan about use we fund million. set which financial in our business, with our fund quarter required. we so of use the the for cooperation to our acquire used our our services financial RMB to to license, some [indiscernible]. And current to is up our trust this [indiscernible] first cooperate year, the also And to And XXX financial service,

[indiscernible] our and and on as business development. And on my focus. [indiscernible]. also as payback our offer And purchase staff. to for do our we our I first confident technical up our we in lab and [indiscernible] that and a the share And we continue in last, script, second keep development, to focus, also our purchase marketing this in in will set continuing external the The share is for any have not -- also mentioned keep thing AI. from our one quarter, sell we future mentioned, but do [indiscernible] gain we accumulated share finally, we're RMP continue in inventory And the you

are show review, external preliminary time finding can finalized over. also, policy to about So our if it's we public see the and something investment

for I you Okay. I hope more give some can you. information

Operator

at this the time, Digital you. also And Yiren call. gentlemen, our and ladies Thank conclude conference we we conclude and session, question-and-answer will will

Digital. further If Relations please Thank Investor attending at the for you questions, Yiren you presentation. team contact today's have

You may disconnect. now

Yiren Digital (YRD) 21 Jun 242024 Q1 Earnings call transcript