|Over a week ago|
Jiayin Group announces resignation of CFO Chunlin Fan » 06:0701/0801/08/21
Jiayin Group announced…
Jiayin Group announced that Chunlin Fan tendered his resignation from the position as the company's CFO due to personal reasons, effective from January 8. Bei Bai, the current Financial Controller of the company, and Jin Chen, the current Investment and Finance Director of the company, have been appointed as the Co-CFO's of the company, effective from January 8. Bai, the current Financial Controller, joined the company as the Director of Investor Relations in August, 2018. Prior to joining the company, Bai held various positions at PricewaterhouseCoopers Zhong Tian LLP, Shanghai Branch from 2006 to 2018, including manager and senior manager. Chen joined the company as the Investment and Finance Director in September, 2019. Prior to joining the company, Chen served as a coverage banker of TMT sector at Citibank from 2011 to 2017, leading various capital market deals and launching global finance solutions for Chinese tech giants.
|Over a month ago|
Jiayin Group upgraded to Buy from Neutral at Roth Capital » 07:5712/0112/01/20
Roth Capital analyst…
Roth Capital analyst Andrew Scutt upgraded Jiayin Group to Buy from Neutral with a price target of $5.75, up from $4. The company reported "solid" Q3 results and officially completed the wind-down of its peer-to-peer lending business, closing out all retail or peer-funded loans, Scutt tells investors in a research note. With the "overhang" from the transition "clearly removed," the analyst now expects Jiayin to return to positive growth.
Jiayin Group reports Q3 EPS RMB0.40 vs. RMB0.38 last year » 06:2511/3011/30/20
Reports Q3 revenue…
Reports Q3 revenue RMB401.3M vs. RMB510.77M last year. Yan Dinggui, the Founder, Director and CEO commented: "I am excited to report another solid quarter of strong business performance. Most notably, we completed the business transition upon which we embarked at the start of the year. I am proud to announce that as of November 10, 2020, the outstanding loan balance of our legacy P2P lending business was reduced to zero! This marks a significant milestone. Jiayin has successfully transformed to a finance technology company fully funded only by institutions. Considering that at this time one year ago, our platform funding was over 90% from individuals, this rapid transition demonstrates our agility and outstanding execution capability. In addition to successfully completing our funding transition, we continued to deliver encouraging business results despite the challenging environment. The loans we facilitated performed very well, investor confidence remained strong, we improved operating efficiency, and we maintained attractive profitability. In the quarter, our net income reached RMB88.4 million, up 8.1% year over year and 115.1% sequentially. This remarkable improvement demonstrates both the effectiveness of our growth strategy and our strong execution. Jiayin always strives to operate conservatively but profitably. We believe that our strong underlying business and brand recognition will enable us to achieve robust growth for the coming years."
|Over a quarter ago|
Jiayin Group says policy not to comment on unusual market activity » 11:2506/1106/11/20
Jiayin Group said:…
Jiayin Group said: "In light of unusual increases in the price and trading volume of the company's American depositary shares on June 10, Jiayin stated that its policy is not to comment on unusual market activity or speculative matters. Jiayin is unaware of the reason causing such increases and cautions investors that the trading price of the company's ADSs could be subject to significant volatility for various reasons that are out of the company's control. Further information regarding this and other risks relating to the company's ADSs is included in the company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission."
Jiayin Group downgraded to Neutral at Roth Capital » 08:5204/0204/02/20
As previously reported,…
As previously reported, Roth Capital analyst Andrew Scutt downgraded Jiayin Group to Neutral from Buy with a price target of $2.40, down from $12. The analyst argues that positive catalysts are unlikely to emerge in the next few months, and notes the company reported weak Q4 results on dual headwinds from COVID-19 and implementation of the triple decline policy.
Jiayin Group downgraded to Neutral from Buy at Roth Capital » 07:5904/0204/02/20
Roth Capital analyst…
Roth Capital analyst Andrew Scutt downgraded Jiayin Group to Neutral from Buy with a price target of $2.40, down from $12.
Jiayin Group announces acquisition of equity interest in Keen Best » 08:1003/1303/13/20
Jiayin Group announced…
Jiayin Group announced that Geerong, an indirect wholly-owned subsidiary of the Company, has determined to acquire certain equity interest in Keen Best Investments Limited from China Smartpay Group Holdings Limited, a Cayman Islands incorporated company, whose shares are listed on GEM of The Stock Exchange of Hong Kong. On March 13, 2020, Geerong and another independent purchaser entered into a share purchase agreement with Smartpay, pursuant to which, among others, Geerong agreed, subject to certain conditions, to acquire 35 ordinary shares of Keen Best, representing 35% equity interest in Keen Best, a wholly-owned subsidiary of Smartpay. Mr. Dinggui Yan, our founder, director and chief executive officer currently beneficially owns approximately 29.8% equity interest in Smartpay. The closing of this proposed transaction is subject to the following conditions, which should be fulfilled on or before June 30th, 2020 or another date otherwise agreed by the parties thereto: the shareholders of Smartpay having resolved and approved this transaction and the SPA in accordance with Rules Governing the Listing of Securities on GEM of the Stock Exchange of Hong Kong, if required; and all necessary consents, approvals, authorizations, waivers, clearances and certifications in relation to this transaction and the SPA having been obtained, which can be waived. The purchase price for the Shares is HK$105,000,000 and shall be paid in cash or other means agreed by the Purchasers and Smartpay.