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Jiayin Group reports Unaudited financial results for the first quarter of 2019

SHANGHAI, China, June 11, 2019 (GLOBE NEWSWIRE) – Jiayin Group Inc. (“Jiayin” or “Company”) (NASDAQ: JFIN), the leading online single financial market in China, immediately announced unaudited financing on March 31. Quarterly Results for 2019

Highlights:

  • Loan Beginning Volume1 was RMB6 533 million, representing a 8.2 % decline over the corresponding period in 2018 and a lower of 1.zero % in a row
  • Funding transactions2 have been RMB7,665 million, which is 2 , 5 per cent decrease than in the corresponding period 2018, and progress of 1.6 per cent in a row
  • The typical amount of funding per investor was RMB66,348, which represents an increase of 37.7% over the corresponding interval in 2018
  • The typical mortgage amount to the borrower was RMB7, 225, an increase of 10.three% compared to the similar interval in 2018
  • Internet revenue have been EUR RMB731.3 million. , which suggests a decrease of 25.6 % from the similar p in 2018 and an increase of 3.zero %
  • Working profit was RMB 294.7 million, 9.5 % decrease than in the similar interval in 2018, and a rise of 73.2 % in a row

    ]. 19659004] Internet revenue was RMB254.2 million, which is 10.2 % lower than in the similar period in 2018 and an increase of 56.7 % in a row

. Yan Dinggui, Founder, Director and CEO, commented: “We are happy to report our strong performance in the first quarter as a public company. Net sales grew by 3.0% in a row, as our industry stabilized in regulatory uncertainty and continued to perform well. Our result of profitable operations helped us to complete the public offer that will begin in May, a milestone for our company. IPO, combined with our profitable operations and improved risk management capabilities, will create more confidence in the Jiayin Group, both among investors and borrowers. ”

Financial results

Internet gross sales amounted to RMB731.3 million (109.0 million 25.6% in comparison with the earlier yr, primarily as a result of lower lending volume and incentives provided to buyers in the first quarter of 2019

Turnover of mortgage aid providers It was RMB595.four million ($ 88.7 million), up 21.6% on the earlier yr, primarily because of decrease lending volumes and elevated incentives for buyers in the first quarter of 2019.

Revenue from post-sales providers was RMB73.four EUR 19.9 million (USD 10.9 million), up 27.8% on the previous yr, primarily as a consequence of a rise in the quantity of loans incurred in earlier durations

Preliminary and repair prices have been RMB118.4 million ($ 17.6 million), which suggests a rise of 39.6% over the previous yr , primarily resulting from increased value of credit standing and credit score collection

Receipt of receivables and contract belongings of RMB43.eight million ($ 6.5 million), 57.8 % from the previous yr, primarily on account of elevated efforts on credit standing and danger management, which elevated the company's capacity to gather

Sales and advertising costs have been RMB171.four million (US $ 25.5 million). decrease of 29.1% in comparison with the previous yr, primarily resulting from lower value of new clients

Basic and administrative bills have been RMB49.three million ($ 7.3 million), or 98.zero% greater than a yr earlier. compared to the October 2018 choices.

Research and improvement prices totaled RMB53.7 million ($ eight.zero million), which represents a rise of four. 1.2% compared to the earlier yr, when the firm continued to spend money on the improvement of new services

Operating revenue was RMB294.7 million. EUR (43.9 million), which was 9.5% lower than a yr earlier.

The web revenue attributable to shareholders of the Jiayin Group was RMB254.2 million ($ 37.9 million), in comparison with RMN283.1 million for the corresponding period in 2018.

Cash and money equivalents at the finish of the quarter amounted to RMB143.2 million ($ 21.three million) in comparison with RMB 41.4 million at the starting of the quarter

__________

1 “loan start volume” refers to the complete market loans granted to the firm for a certain interval of time

2 & # 39; investment & # 39; refers to the amount of direct capital invested by buyers over a given period of time, which buyers make immediately as the firm's marketplace during that interval. Calculating the amount of the investor's funding by way of the investor's automated investment program doesn’t consider the automated relocations offered by automated investment packages

__________

Unique public supply

14. Might 2019 The corporate closed the sale of the unique 3,500,000 American Depositary Shares (“ADS”) and 525,000 ADS at a public worth of $ 10.50, following ADS. purchase more ADS info. Every ADS represents 4 class A peculiar shares.

Jiayin raised a complete of about $ 34.9 million of internet revenue from its unique public supply after the insurers absolutely exploited their means to buy different ADS providers and deducted subscription commitments.

Conference Call

The company organizes a conference call to discuss its financial results on Tuesday, June 11, at eight:00 am US Japanese Time / eight:00 PM Chinese language Commonplace Time

Calling Calls are as follows:
China: +86 4006208038 or +86 8008190121
Hong Kong +852 3018-6771
United States, New York +1 (845) 675-0437

If you need to hitch, name 10 minutes before the call is scheduled to start out and enter the password 1498068.

Telephone number toll free United States +1 (845) 675- 0437 +1 (866) 519-4004 Hong Kong Hong Kong +852 30186771 +852 800906601 China +86 8008190121
+86 4006208038

The convention call could be repeated by phone with the following numbers until 19 June 2019. If you need to make use of the play, learn Conference ID 1498068.

Telephone quantity toll free number United States +1 (646) 254-3697 +1 (855) 452-5696 Hong Kong +852 30512780 +852 800963117 Mainland China +86 8008700206
+86 4006022065

A reside and archived webcast of a conference name is on the market on the firm's Investor Relations web site at [19459021

About Jiayin Group Inc.

Jiayin Group Inc. is a number one on-line single financial marketplace in China Dedicated to facilitating environment friendly, transparent, safe and fast connections between buyers and debtors, whose needs are beneath the management of conventional financial establishments. The company's enterprise origins may be traced back to 2011. The corporate has a very safe and open forum with a comprehensive danger administration system and a dedicated and efficient danger assessment model that uses superior large-scale knowledge analytics and superior algorithms to accurately assess the danger profiles of potential borrowers

Change fee info

translations of certain RMB amounts to US dollars ("US $") at sure costs only for the comfort of the reader. Until otherwise said, all translations from RMB to US Dollars can be made between RMB6.7112 and $ 1.00 in Federal Reserve System Board H.10 Release 29.3. , 2019. The corporate doesn’t claim that the RMB or US $ quantities could possibly be transformed into US dollars or RMB on any case or in any respect.

Protected Harbor / Ahead-Wanting Statements

This announcement accommodates forward-looking statements. These statements shall be made in accordance with the provisions of the 1995 United States Personal Safety Settlement Act (Protected Harbor). These forward-looking statements may be recognized by terminology similar to "will", "wait", "anticipate", "future," "time", "plans", "believe", "estimates" and comparable statements. The corporate can also make written or oral prospects in its statements to the SEC, in its annual report to shareholders, in press releases and different written material, and in oral statements made by its officials, executives or staff to 3rd events. Statements that are not historic information, together with statements about the firm's beliefs and expectations, are forward-looking statements. The forward-looking statements embrace inherent dangers and uncertainties, and are based mostly on current expectations, assumptions, estimates, and forecasts for the firm and business. Attainable dangers and uncertainties embrace these related to the firm's capacity to retain present buyers and borrowers and to attract new and efficient buyers in an economical method, the firm's capacity to increase the quantity of investments and the availability of loans by way of its market, the firm's credit rating mannequin and the effectiveness of its danger management system, The statutory laws of the Individuals's Republic of China, the common financial circumstances of China, the common financial circumstances of China and the capacity of the firm to satisfy the required standards preserve the listing of its ADS listings on the NASDAQ inventory market or other inventory exchanges, including its capability to right non-compliance with the steady itemizing criteria of the Nasdaq Stock Trade. All info contained in this press release is from this present day on, and the Firm isn’t obliged to replace its forward-looking statements to mirror future events or circumstances or modifications to its expectations, except as required by regulation. Although the Company believes that the expectations expressed in these forward-looking statements are affordable, it can’t assure you that its expectations will prove to be right and buyers might be warned that precise results might differ materially from the expected results. Further details about the Company's dangers and uncertainties is included in the firm's securities in the US Securities and Markets Commission, including its registration type on Type F-1, which was submitted in connection with its initial public supply

. contact info:

in China:

Jiayin Group
. Shelley Bai
ir@niwodai.com

or

Blueshirt Group
Ms. Susie Wang
E-mail: susie@blueshirtgroup.com

In the United States:

Ms. Julia Qian
julia@blueshirtgroup.com

JIAYIN GROUP INC. TIME LIMITED LIMITED CONSOLIDATED FINANCIAL STATEMENTS (amounts in hundreds, except for share and share info) December 31 31.3. From 2018 2019 RMB RMB 19659099] RMB US $ ASSETS Money and cash 41,441 41,441 41,441 ] 21,340 Restricted money 41,500 7 892 1.176 Quantities due from associated parties – – – – – – Commerce receivables, internet 336 849 330,166 49,196 Contract funds, internet Contract belongings, internet 203,080 203,080] 104,895 15,630 [19659094] Internet Funding in Insurance Packages 5,525 2 264 337 337 88 234 90,428 13,476 Deferred Tax Belongings 56 027 56.zero27 eight.348 Property and Gear 29,011 28,386 4,230 Authorization Assets3 – 41,659 6,207 6,207 212 283 42 SUMMARY 801,879 805,217 805,217 119 982] LOANS AND OWN RESOURCES Liabilities, Including Amount of Consolidated Financial Statements without Company: Wages and Social Wages 110,562 82,455 82,455 82,455 82,455 Quantities to be paid to related parties 84 509 57,724 8,601 Liabilities to Buyers Insurance coverage Program 1,547,zero72 1,196,911 1,196,091 Different Collateral Money owed four.060 – – Tax money owed 422177 443.912 443.912 443.912 443.912 443.912 443.912 443.912 Reimbursement Liabilities 84 498 71.111 10,596 Leases – 39.830 39.830 830 5,835 5,935 short-term debts 201,007 295,246 43,994 TOTAL INITIATIVES 2,453,885 2,156,389 321,313 Commitments and contingencies

19659226

SHAREHOLDERS 'DEFICIT
Abnormal shares (nominal value of $ zero.000000005; 10,000,000,000,000 approved shares, 200,000,000 shares as of December 31, 2013 and March 31, 2014 issued and issued) issued shares) zero zero zero
Capital at Further Fees [19659268] 395,472 442 090 65 873
Amassed deficit (2,047,478) (1 793 262) (1,793,262) ORDER OF SHAREHOLDERS (1,652,006) (1,351,172) (201,331)
[1965967] 19659291] 801,879 805,217 tJIAYIN GROUP INC. ended
31. March 2018 31. March 1919
RMB RMB RMB US $
Internet Revenue 983 256 19659116] 108,972
Operating costs and prices:
Starting and Upkeep (84,831 ) (118,434 ) (17,647 )
Unsuccessful accounts receivable and contract belongings (103,793 ) [1965930] 19659330] (6,526 )
Asset and Liabilities from Investor Insurance (164,373 ) 9116]
Gross sales and Advertising (241,690 ) ] (171,434 ) ] Basic and Administrative (24,889 ) (49,290 ) (7,344 )
Research and Improvement [1965967] [1965967] ] (53,722 ) (8,005 )
Complete Working Expenses (657,628 [1965930]) [1965928] 436 674 (65 066 )
[1965967] 19659257 [1965967]] 294,657 43,906
Interest Bills 19 392 [19459229] ] (72 )
Other Revenue Internet 7, 986

three,519 524
Revenue Before Tax 334.006 [1965930] 44 358
Revenue Taxes (50 869 ) (43 479 ) [1965931] ]
Internet Revenue 283.137 254,215 254,215 [1965965] ]
Different Excessive Performance Gadgets From Zero Tax [1965967]
Complete Revenue 283.137 283.137 254.215 37.879

Calculating Internet Revenue per Share:
– alkaline and diluted 200,000,000 200,000,000 ] 200,000,000
Weighted Common of ADSs used for Internet Revenue Calculation per ADS
– Primary and diluted 50,000,000 50,000,000 50,000,000 50,000,000
[1965967]
[1965967] 19659116]
– Primary and Diluted 1.42 1. 27 zero.19
[1965967] 19659116]
– primary and diluted 5.66 5.08 zero.76 zero.76 zero.76 [1965967]]

three The company has permitted ASU No. 2016-02, "Leases “From January 1, 2019, it selected to use a modified retrospective strategy that permits the company to apply the new lease commonplace at the date of adoption and document the cumulative effect on the opening stability of the 2019 retained earnings, without any adjustment for earlier durations. There was no cumulative impact on the opening stability of retained earnings. The introduction of the new tips had no material influence on the firm's operations, financial place or liquidity

4As on March 31, 2016, when the company was in its early levels and ADS was not in use at the moment. Assuming that each one remaining strange shares are ADS shares. Each ADS represents 4 atypical shares.