The FinVolution group raises its forecast for the whole of 2021

Published: October 19, 2021 at 10:30 p.m. MDT

SHANGHAI, October 20, 2021 /PRNewswire/ — FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform in China, today announced that, based on its current assessment of operating and market conditions, the company has raised its full-year 2021 total trading volume guidance to a range of 130 billion RMB at 135 billion RMB, a year-on-year increase from 102.8% to 110.6%. The previously announced guidance range March 11, 2021 was between 100 billion RMB and 120 billion RMB.

The increase in guidance took into account recent changes in the macro environment, coupled with strong strategy execution in the first half of 2021, reflecting greater confidence in business trends and the ability to build momentum then as the company continues to accelerate its initiatives for international expansion, facilitation for small business owners and continued investment in technology. Along with the successful execution of acquiring higher quality borrowers, the percentage of loans facilitated at 24% or less per annum further increased to 77% in September 2021.

Mr. Feng-Zhang, Chief Executive Officer of FinVolution, said: “By continuing to invest in cutting-edge technology, enhancing our sophisticated credit risk management framework and remaining agile and vigilant in our execution, we are well positioned to support our borrowers. and institutional funding partners with exceptional service and products in the Delta variant environment under development in 2021. We remain committed to improving our customer experience, exploring new growth opportunities both domestically and internationally. abroad and ultimately deliver sustainable value to all stakeholders.

The above forecasts are based on current market conditions and reflect the Company’s current preliminary views and expectations regarding market and operating conditions, the regulatory and operating environment, as well as client and institutional investor demands, all of which are subject to change.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the terminology such as “will”, “expect”, “anticipate”, “future”, “intend”, “plan”, “believe”, “estimate”, “target”, “confident” and similar statements. These statements are based on management’s current expectations and current market and operating conditions and relate to events that involve known and unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in such statements. Potential risks and uncertainties include, but are not limited to, uncertainties about the Company’s ability to attract and retain borrowers and investors in its market, its ability to increase the volume of loans facilitated by the Company, its ability to introduce new lending products and platform enhancements, its ability to compete effectively, government laws, regulations and policies relating to the online consumer lending industry in China, the general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE, including its ability to remedy any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, unless the applicable law requires it.

About FinVolution Group

FinVolution Group is a leading fintech platform in China and connecting underserved borrowers internationally with financial institutions. Founded in 2007, the Company is a pioneer in China the online consumer credit industry and has developed innovative technologies and accumulated in-depth experience in the key areas of credit risk assessment, fraud detection, big data and artificial intelligence . The company’s platform, enhanced with proprietary advanced technologies, includes a highly automated loan transaction process, which enables a superior user experience. From June 30, 2021, the company had more than 130.8 million cumulative registered users.

For more information, please visit: http://ir.finvgroup.com.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200 Post. 8601
Email: [email protected]

Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
Email: [email protected]

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SOURCE FinVolution Group

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