Streetbeat News

FINV

FinVolution Group

https://ir.finvgroup.com

Industry

Financial - Credit Services

FinVolution Group operates fintech platform that connects underserved individual borrowers with financial institutions in China. It operates in online consumer finance industry. The company's platform empowered by proprietary technologies, features automated loan transaction process, which enables a user experience. As of March 31, 2022, it had approximately 145.3 million cumulative registered users. The company was formerly known as PPDAI Group Inc. and changed its name to FinVolution Group in November 2019. FinVolution Group was founded in 2007 and is headquartered in Shanghai, the People's Republic of China.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

FinVolution Group has reiterated its 2024 transaction volume guidance, expecting growth in both China and international markets. The company projects a 5-10% increase in China and a 20-40% increase internationally, despite ongoing market uncertainties.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 5:31 am

FinVolution Group (NYSE:FINV) reported a 7.14% increase in Q2 earnings per share to $0.30, and a 2.78% increase in sales to $435.93 million compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 5:22 am

FinVolution Group (NYSE:FINV) has partnered with Maya Bank for a $47.5 million loan deal in the Philippines. This agreement aims to improve credit accessibility for the unbanked and underserved communities in the country, expanding FinVolution's service offerings and potential future collaborations.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 9:03 am

FinVolution Group (NYSE:FINV) reported a decrease in Q1 earnings per share (EPS) to $0.29 from $0.36 year-over-year, and a slight decline in sales to $438.36 million from $444.21 million.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 7:18 am

FinVolution has announced a strategic cooperation agreement between its financial application Juanhand and UnionBank of the Philippines, aiming to enhance financial services in the Philippines.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:05 am

FinVolution has signed a strategic cooperation agreement with SeaBank Philippines to foster regional growth. This partnership aims to leverage FinVolution's technological capabilities and SeaBank's local market presence to enhance financial services in the region.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 9:32 am

Dada Nexus Limited reported disappointing fourth-quarter results, leading to a 9.1% drop in pre-market trading. The company also announced a $40 million share repurchase program. Other stocks experiencing pre-market losses include GDS Holdings, Star Bulk Carriers, FinVolution Group, M&T Bank Corporation, Tilray Brands, and MINISO Group, with various factors contributing to their declines.

Portfolio Pulse from Avi Kapoor

March 26, 2024 | 8:54 am

Lufax Holding Ltd. (NYSE:LU) announced a special dividend of $2.42 per ADS, which is about half of its closing price of $4.48, following a significant reduction in its loan portfolio as part of a de-risking strategy. Despite this, investor enthusiasm remains low due to skepticism towards Chinese online lenders and concerns over China's economic slowdown. Lufax's shift towards higher quality borrowers and consumer lending, along with a reduction in geographical reach and operational costs, has not yet convinced investors of its long-term prospects.

Portfolio Pulse from The Bamboo Works

March 25, 2024 | 1:54 pm

Qifu Technology Inc. (NASDAQ:QFIN) reported a 13% year-on-year revenue increase and a 21.5% net profit rise in Q4, outperforming its annual figures and projections. The company announced a significant share repurchase plan of up to $350 million, exceeding its previous $132 million buyback. This move, along with a dividend payout of 20%-30% of its GAAP-based net profit, has led to a more than 20% increase in its stock price post-announcement. In contrast, FinVolution Group (NYSE:FINV) reported modest growth, highlighting the competitive and economic challenges in China. Qifu's strategy focuses on shareholder returns amid limited growth opportunities, with its P/E ratio currently at 5, compared to FinVolution's 4 and LendingClub's (NYSE:LC) 21.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 2:54 pm

FinVolution's stock price is trading lower after the company reported its Q4 earnings.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 3:09 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.