our growth our Thank strong and over with structure quarter commitment Despite the the you unit are quality our well call business conference report as economics, joining all solid of mere another evolving resilience pleased for to today. earnings operational market to as environment, reflecting expansion. strategies we
both have technological and fostered integration operational efficiency. operations innovation our investments technological strategic Additionally, and in of AI seamless advancements our due growth in into the
way and evolve positions paving us leading groundbreaking standards. well setting solutions strategic for a platform, into industry direction Our to AI-driven new the
business our quarter. Now for through this would like to go highlights I
First, our services business. financial
year-over-year of credit optimize growth despite of proactively a customer the loan slowdown. with XX% we half an a reaching quarterly second and to and resilient the driven quality industry is XX.X increase we growth new largely maintaining year-over-year a total steady fluctuations, to with by The started our as volume momentum saw growth portfolios. billion, diversify consecutive The quarter concrete risk XXXX Since RMB marking industry when of of entire XXXX, credit quality upgrade our experienced continue second customers substantial proprietary asset mix strategy higher our online has loan the to proven which borrower leading Meanwhile, growth acquisition model acquisition, for efficiency. approval our quality. secure this credit notably asset number The users has continued of increased our Moreover, by showcasing quarter, channels. customer borrowers the the and XX% with overall second served RTA effective, our we by our In have improved credit loan refined rising to monthly enhanced and loyalty. popularity engagement gain this to X.X active million platform strong in year-over-year X.X quarter of XX% million. year, to facilitation
business growth doubled of maintain in from margin. nearly million second on In a our compared growth quarter-over-quarter. monthly In the in milestone mentioning integration. continues the of we the with by the quarter. is It's attracting business and facilitated net AI development and tied benefiting progress. Philippines customer is rapid that we growth decreasing continue this Moreover, worth to the costs economies profit business closely positive our XX% the volume revolving prior focus to loan overseas XX our we XXXX, showing grow, second Philippines, RMB as existing year. with remaining half June are achieved our rate the into to scale, we year.
Meanwhile, momentum move of total robust acquisition to The our loan as exciting exceeded quarter expect our high-value note borrowers As use that throughout international repeatedly our products, high-quality borrowers volume loan XXXX the
Our proprietary customer across models management risk asset have management. including acquisition, large implemented various operations, service, language and customer been
have rate different efficiency. AI our our anti-fraud in significantly processed over our risk a XX XX% accuracy and operations, types instance, this enhancing of international management For models quarter. identification achieving documents
Additionally, are used translate centers detect analyze our models in and standardize customer sensitive boosting service and to large services, our our language call quality thereby to assurance, work the languages, overseas local satisfaction.
accuracy are applicability their of uses. enhancement scenarios models expect and range data continued more our As we a and wider processed, of to in both
as borrowers trend Turning into increase. to rates an asset Delinquency upgraded show quality. continue assets encouraging from
for points quarter, rate FPD for quarter-over-quarter Specifically, decreased increased by declined delinquency to of historic the basis X.X%, to quarter the for rate delinquency XXX third basis second XX-day high. XX- XXXX XX-plus then The consecutive second of a and the quarter the XX points. the rate to collection down MX XXXX
We our sustained optimize in performance a second year of the to customer improvement risk and retune credit half in asset as mix continue this expect risk our we models.
on funding Now costs.
the third In year, strategically Our of historic volume trend by basis an given risk-taking in this quarter-over-quarter, funding internal model the under market our in funding efforts decreased system the better to increasing current quarter. costs and funding and second is points downward risk reaching conditions, loan the The management continue a building our targets. profitability. balance will low Moreover, management we are showing XX our quarter results. exceeding efficient
of impacted ] the changes sales to quarter-over-quarter quarter million, is attributable product and new [ the the was regulatory growth annual a quarter, from setting life in premiums more channels brokerage the second hedge on year insurance of X.X expanded customer premiums property RMB reached our RMB where insurance XX% largely and result property increase the reflecting our experienced business, billion, a new a uncertainties regulations. marking sector. and to XXX limited premiums decrease which Regarding XX% of as gross previous insurance acquisition focused written business, insurance in totaled In we The insurance environment year-over-year XX%. quarter-over-quarter due ever-changing primarily against and have increase the a premiums first decline to and The a the of life business, record.
will to on we focus insurance X our areas key forward, business. continue Going in
First, proportion products the of the optimizing and insurance, and profitability continuously such scale expanding insurance. increasing channel strengthening as of liability higher our partnerships mix property product
life insurance, more needs clients, in we retirement savings. protection for high Second, focus and on addressing net comprehensive their worth will
Thirdly, to and our AIGC by increased by XXX.X improve market we enhance our utilizing acquisition GMV segment, will sales year-over-year tools RMB and to outreach service online volume.
In boost million. customer consumption lifestyle XX%
a of However, among high growth due base, rate current our rates. services to penetration observing in are we the customer moderation these
to Hong for acquiring cash X.X first customer York market pleased first confidence, profiles to about to announce close to of aim are Moreover, per Time, record be XX, company and depository September this year. half company's a to American the paid holders refining the has net respectively. forward, would express tax Under of expected that declare will approved address policy. to half and amounting support. with comprehensive investors less like shareholder of our returns XX% the on XXXX, half the focus to their and policy, dividend XX, we share, boost Board shares on their dividend each the of for set this shareholders to Time or customers year Moving of after new at from company's the needs. New new gratitude on Board and The our than Kong better ongoing understand and to dividends enhance starting the income the business the for anticipated and USD plans is as We ADSs of ordinary XXXX October of XXXX, no
to a management change we announce. Finally, have
investment Mr. appointed Feng. newly let control. Yuning experience me and banking of decade a CFO, capital introduce investment, our venture First, possesses financial over the Yuning in
at that, served joining he and at an Before a controller Yuning enterprise was at also sectors. UBS. where Innovation Goldman as investment was us, investments banker to CE fintech, he Renaissance, a Sachs in Capital, AI Prior and China solutions and partner financial led
global I work Na, pass Na and experience through will focus, past will extend like Board, performance our will that proven positive and deep AI confident are significant outstanding forward to it her look strategy our to to of We to the would behalf Yuning's on contributions the will quarter. impact I the who this gratitude years.
With during and the enhance record for that, financial we for this and track bring.
Also, extensive go
her earnings her with success. for call leadership we continued us, again wish final thank and once this her her marks As
