The following is a summary of the Jiayin Group Inc. (JFIN) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Jiayin Group Inc. achieved a Q2 2024 loan facilitation volume of RMB 24 billion, up from previous guidance.

• Q2 2024 net revenue rose to approximately RMB 1.476 billion, a 15.5% year-over-year increase.

• The company experienced a significant increase in costs, with facilitation and servicing expenses growing by 70.9% year-over-year to RMB 608.2 million.

• Net income for Q2 2024 recorded at RMB 238.3 million, a decrease of 27% from the same period last year.

• Cash and cash equivalents reached RMB 880.2 million as of June 30, 2024, demonstrating an improvement in financial discipline and operational optimization.

Business Progress:

• Launched innovative products including an intelligent recommendation system and the Lingxi AI Agent platform.

• Established partnerships with 69 financial institutions and in talks with an additional 35, aiming to deepen cooperation and expand services.

• Advanced technological transformation focusing on integrating AI into multiple business areas such as customer services, predictive maintenance, and personalized marketing.

• Focused on high-quality growth and strategic balance in new and existing borrower acquisition, evidenced by new borrower figures reaching 680,000 for Q2, a 32.9% year-over-year increase.

Opportunities:

• Aiming for a loan facilitation volume of RMB 25 billion for Q3, focusing on high-quality growth and stable price optimization.

• Expanded international business activities with notable growth in Indonesian partner's loan size by 25% and active discussions with new financial partners in local markets.

Risks:

• Volatility in net income due to increased costs and shifts in revenue structure, including higher guarantee costs and borrower acquisition costs.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.