X Financial (NYSE: XYF) Reports Q2 2025 Results: Revenue +66%, Record Loan Originations, Improved Asset Quality

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SHENZHEN, China, Aug. 19, 2025 /PRNewswire/ — X Financial (NYSE: XYF), a leading Chinese fintech platform, today announced its unaudited financial results for the second quarter ended June 30, 2025.

Q2 2025 Highlights

Total net revenue reached $317.3 million (RMB2,273.1 million), up 65.6% year-over-year (“YoY“), driven by robust loan facilitation growth and healthy platform activity.
Total loan amount facilitated and originated[1] hit a record RMB38.99 billion (~$5.43 billion), up 71.4% YoY, as borrower demand remained strong. X Financial facilitated and originated approximately 3.72 million loans, with active borrowers rising 73.7% YoY to 2.85 million.
Net income rose 27.1% YoY to $73.7 million (RMB528.0 million). Non-GAAP adjusted net income was $82.8 million (RMB593.2 million), up 58.3% YoY.
The 31–60 days delinquency rate decreased to 1.16% (from 1.29% in the same period of 2024) and 91–180 days rate declined to 2.91% (from 4.38% in the same period of 2024).

“Q2 2025 continued our strong momentum, with nearly RMB39 billion in total loan amount facilitated and originated and revenue up 66%,” said Kent Li, President of X Financial. “We added over 427,000 active borrowers this quarter, maintained healthy asset quality, and scaled our platform efficiently. These results underscore our disciplined execution and focus on long-term value creation.”

Business Outlook & Share Repurchase Plans

Business Outlook: Based on current trends, X Financial expects the total loan amount facilitated and originated in the third quarter of 2025 to be in the range of RMB32.0 billion to RMB34.0 billion. This represents a deliberate moderation from record Q2 levels, as management places greater emphasis on asset quality and profitability over pure volume growth. The Company remains attentive to challenges and uncertainties from the evolving regulatory environment, while maintaining confidence in resilient borrower demand and disciplined execution.
Capital Return to Shareholders: From January 1, 2025 through August 15, 2025, X Financial repurchased an aggregate of approximately 16.7 million Class A ordinary shares, including approximately 2.3 million ADSs, for a total consideration of approximately US$47.7 million under its share repurchase programs. The Company’s previous US$50 million repurchase authorization has been fully utilized. The Company now has approximately US$68.2 million remaining under its new US$100 million share repurchase program, which is effective through November 30, 2026. This program underscores the Company’s confidence in its long-term growth outlook and its commitment to enhancing shareholder value. Repurchases under the program remain subject to market conditions and other factors and may be modified or suspended at management’s discretion.
Declaration of Semi-Annual Dividend: Pursuant to the semi-annual dividend policy, the Board today approved the declaration and payment of a semi-annual dividend of US$0.28 per ADS (approximately US$0.0467 per ordinary share). The holders of the Company’s ordinary shares shown on the Company’s record at the close of trading on September 26, 2025 (U.S. Eastern Daylight Time) will be entitled to the semi-annual dividend. These shareholders, including the Bank of New York Mellon, the depositary of our ADS program (the “Depositary”), will receive the payments of dividends on or about October 15, 2025. Dividends to the Company’s ADS holders will be paid by the Depositary on or after October 15, 2025, and the precise timing of receipt will vary based on the processing efficiency of the respective holding brokerage.

“We remain committed to disciplined execution and long-term value creation,” said Frank Fuya Zhang, Chief Financial Officer. “Our strong Q2 performance, with GAAP earnings of US$1.76 per ADS and non-GAAP earnings of US$1.98 per ADS, together with our solid balance sheet, position us to return capital while investing in sustainable growth.”

Conference Call

X Financial’s management team will host an earnings conference call at 8:30 AM U.S. Eastern Time on August 19, 2025 (8:30 PM Beijing / Hong Kong Time on August 19, 2025).

Dial-in details for the earnings conference call are as follows:

Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.  A replay of the conference call may be accessed by phone at the following numbers until August 26, 2025:

Additional Information

This press release contains highlights only. For the Company’s complete financial results and management’s discussion and analysis for the second quarter of 2025, please refer to the Form 6-K filed with the U.S. Securities and Exchange Commission on August 19, 2025.

About X Financial

X Financial (NYSE: XYF) (the “Company”) is a leading Chinese fintech platform. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.

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

Use of Non-GAAP Financial Measures

In evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors’ assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income (loss) per basic share, and (v) adjusted net income (loss) per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments, gain (loss) from financial investments at equity method and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.

Exchange Rate Information

This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the exchange rate in effect as of June 30, 2025, as published in the Federal Reserve Board’s H.10 statistical release. Percentages stated in this release are calculated based on the RMB amounts.

Disclaimer

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company’s goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace’s products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

Use of Projections

This announcement also contains certain financial forecasts (or guidance) with respect to the Company’s projected financial results. The Company’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company’s historical information.

For more information, please contact:

X Financial
Mr. Noah Kauffman (Chief Financial Strategy Officer)
E-mail: ir@xiaoying.com