-Full Year 2024 Transaction Volume reached RMB206.2 billion,up 6.1% year-over-year-

-Full Year 2024 International Transaction Volume exceeded RMB10.1 billion,up 27.8% year-over-year-

-Full Year International Revenues reached RMB2.5 billion,up 18.5% year-over-year and representing 19.4% of total net revenues-

SHANGHAI,March 18,2025 -- FinVolution Group ("FinVolution" or the "Company") (NYSE: FINV),a leading fintech platform in China,Indonesia and the Philippines,today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31,2024.

For the Three Months

Ended/As of

YoY

Change

For the Full

Year Ended /

As of December

31,

YoY

Change

December 31,

2023

December 31,

2024

2023

2024

Total Transaction Volume(RMB in billions)[1]

52.4

56.9

8.6%

194.3

206.2

6.1%

Transaction Volume (China's Mainland)[2]

50.1

54.0

7.8%

186.4

196.1

5.2%

Transaction Volume (International)[3]

2.3

2.9

26.1%

7.9

10.1

27.8%

Total Outstanding Loan Balance (RMB in

billions)

67.4

71.5

6.1%

67.4

71.5

6.1%

Outstanding Loan Balance (China's Mainland)[4]

66.1

69.8

5.6%

66.1

69.8

5.6%

Outstanding Loan Balance (International)[5]

1.3

1.7

30.8%

1.3

1.7

30.8%

Fourth Quarter 2024 China Market Operational Highlights

Cumulative registered users[6] reached 172.6million as of December 31,2024,an increase of 10.9% compared with December 31,2023.

Cumulative borrowers[7] reached 26.8 million as of December 31,an increase of 6.3% compared with December 31,2023.

Number of unique borrowers[8] for the fourth quarter of 2024 was 2.1 million,an increase of 0.3% compared with the same period of 2023.

Transaction volume[2] reached RMB54.0billion for the fourth quarter of 2024,an increase of 7.8% compared with the same period of 2023.

Transaction volume facilitated for repeat individual borrowers[9] for the fourth quarter of 2024 was RMB46.7billion,an increase of 9.1% compared with the same period of 2023.

Outstanding loan balance[4] reached RMB69.8billion as of December 31,an increase of 5.6% compared with December 31,2023.

Average loan size[10] wasRMB11,466for the fourth quarter of 2024,compared with RMB9,044for the same period of 2023.

Average loan tenure[11] was 8.0 months for the fourth quarter of 2024,compared with 8.2 months for the same period of 2023.

90 day+ delinquency ratio[12] was 2.13% as of December 31,2024.

Fourth Quarter 2024 International Market Operational Highlights

Cumulative registered users[13] reached 35.7million as of December 31,an increase of 45.1% compared with December 31,2023.

Cumulative borrowers[14] for the international market reached 7.0 million as of December 31,anincrease of 45.8% compared with December 31,2023.

Number of unique borrowers[15] for the fourth quarter of 2024 was 1.6 million,an increase of 87.9% compared with the same period of 2023.

Number of new borrowers[16] for the fourth quarter of 2024 was 0.7 million,an increase of 118.4% compared with the same period of 2023.

Transaction volume[3] reached RMB2.9billion for the fourth quarter of 2024,an increase of 26.1% compared with the same period of 2023.

Outstanding loan balance[5] reached RMB1.7billion as of December 31,an increase of 30.8% compared with December 31,2023.

International business revenue was RMB739.3 million (US$101.3 million) for the fourth quarter of 2024,an increase of 22.8% compared with the same period of 2023,representing 21.4% of total revenue for the fourth quarter of 2024.

Fourth Quarter 2024 Financial Highlights

Net revenue was RMB3,456.7 million (US$473.6 million) for the fourth quarter of 2024,compared with RMB3,223.6 million for the same period of 2023.

Net profit was RMB680.8 million (US$93.3 million) for the fourth quarter of 2024,compared with RMB528.8 million for the same period of 2023.

Non-GAAP adjusted operating income[17],which excludes share-based compensation expenses before tax,was RMB822.0million (US$112.6million)for the fourth quarter of 2024,compared withRMB547.0 million for the same period of 2023.

Diluted net profit per American depositary share ("ADS") was RMB2.61 (US$0.36) and diluted net profit per share was RMB0.52 (US$0.07) for the fourth quarter of 2024,compared with RMB1.92 and RMB0.38 for the same period of 2023,respectively.

Non-GAAP diluted net profit per ADS was RMB2.74 (US$0.38) and non-GAAP diluted net profit per share was RMB0.55 (US$0.08) for the fourth quarter of 2024,compared with RMB2.04 and RMB0.41 for the same period of 2023,respectively. Each ADS of the Company represents five Class A ordinary shares of the Company.

[1] Represents the total transaction volume facilitated in China's Mainland and the international markets on the Company's platforms during the period presented.

[2]Represents our transaction volume facilitated in China's Mainland during the period presented. During the fourth quarter,RMB19.9 billion were facilitated under the capital-light model,for which the Company does not bear principal risk.

[3] Represents our transaction volume facilitated in markets outside China's Mainland during the period presented.

[4] Outstanding loan balance (China's Mainland) as of any date refers to the balance of outstanding loans in China's Mainland market excluding loans delinquent for more than 180 days from such date.As of December 31,RMB26.6 billion were facilitated under the capital-light model,for which the Company does not bear principal risk.

[5] Outstanding loan balance (international) as of any date refers to the balance of outstanding loans in the international markets excluding loans delinquent for more than 30 days from such date.

[6] On a cumulative basis,the total number of users in China's Mainland market registered on the Company's platform as of December 31,2024.

[7] On a cumulative basis,the total number of borrowers in China's Mainland market registeredon the Company's platform as of December 31,2024.

[8] Represents the total number of borrowers in China's Mainland who have successfully borrowed on the Company's platform during the period presented.

[9] Represents the transaction volume facilitated for repeat borrowers in China's Mainland who successfully completed a transaction on the Company's platform during the period presented.

[10] Represents the average loan size on the Company's platform in China's Mainland during the period presented.

[11] Represents the average loan tenor on the Company's platform in China's Mainland during the period presented.

[12]"90 day+ delinquency ratio" refers to the outstanding principal balance of loans,excluding loans facilitated under the capital-light model,that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans,excluding loans facilitated under the capital-light model on the Company's platform as of a specific date. Loans that originated outside China's Mainland are not included in the calculation.

[13] On a cumulative basis,the total number of users registered on the Company's platforms outside China's Mainland market,as of December 31,2024.

[14] On a cumulative basis,the total number of borrowers on the Company's platforms outside China's Mainland market,2024.

[15] Represents the total number of borrowers outside China's Mainland who have successfully borrowed on the Company platforms during the period presented.

[16] Represents the total number of new borrowers outside China's Mainland whose transactions were facilitated on the Company's platforms during the period presented.

[17] Please refer to "UNAUDITED Reconciliation of GAAP And Non-GAAP Results" for reconciliation between GAAP and Non-GAAP adjusted operating income.

[18]Change in Presentation of Consolidated Statements of Cash Flows During the fourth quarter of 2024,the Company elected to change its presentation of the cash flows associated with funds held for customers from operating activities to present them as financing activities and funds paid on behalf of customers from operating activities to present them as investing activities within its Consolidated Statements of Cash Flows. Prior periods'balances have been adjusted to conform to the current period presentation.

Mr. Tiezheng Li,Vice Chairman andChief Executive Officer of FinVolution,commented,"Through strong execution of our Local Excellence,Global Outlook strategy,we successfully navigated 2024's challenges and continued to deliver progressive growth in the China market while driving rapid growth in the international markets. Cumulatively,we served 33.8 million borrowers with an increase of 3.9 million new borrowers across all our markets."

"Withsolid progress across numerous operational metrics,our total transaction volume grew to RMB206.2 billion while total outstanding loan balance grew to RMB 71.5 billion for the full year,both metrics up by 6.1% year-over-year,respectively. These healthy results validate our deep commitment to our diversification into the international markets,underscoring,the effectiveness of our Local Excellence," concluded Mr. Li.

Mr. Jiayuan Xu,Chief Financial Officer of FinVolution,continued,"For the first time,transaction volume in the international markets exceeded RMB10.1 billion for the full year while outstanding loan balance reached RMB1.7 billion,up 27.8% and 30.8% year-over-year respectively. Contributions from international revenue in the fourth quarter grew further to RMB739.3 million,up 22.8% year-over-year and accounting for 21.4% of total revenue. These positive developments reaffirm the value and effectiveness of our international diversification. Driven by strong and consistent business growth,our net revenues for the fourth quarter reached RMB3,456.7 million,up 7.2% year-over-year".

"As part of ourunwaveringcommitment to deliveringvalue to shareholders throughbusiness growth andcapital return,we deployed approximately US$160.4 million in 2024. This compromised,US$90.2millionfor share repurchases andUS$70.2 million for dividend distributions,representing a total payout ratio of approximately 49.1%.Since 2018,we haveconsistentlyreturned value to our shareholders through our capital return program,including both share repurchases and dividend distributions,demonstrating our dedication to sustainable shareholder value creation," concluded Mr. Xu.

Fourth Quarter 2024 Financial Results

Net revenue for the fourth quarter of 2024 wasRMB3,456.7million (US$473.6million),223.6 million for the same period of 2023. This increase was primarily due to the increase in loan facilitation service fees and other revenue.

Loan facilitation service fees wereRMB1,344.8million (US$184.2million) for the fourth quarter of 2024,compared with RMB1,107.4 million for the same period of 2023. The increase was primarily due to the increase in the transaction volume.

Post-facilitation service fees wereRMB460.5million (US$63.1million) for the fourth quarter of 2024,compared withRMB495.4 million for the same period of 2023. This decrease was primarily due to the rolling impact of deferred transaction fees in the China market.

Guarantee income wasRMB1,205.5million (US$165.2million) for the fourth quarter of 2024,compared withRMB1,267.5 million for the same period of 2023. This decrease was primarily due to the increased proportion of capital light business in China's market,as well as the rolling impact of deferred guarantee income.The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.

Net interest income wasRMB217.9million (US$29.9million) for the fourth quarter of 2024,compared withRMB227.4 million for the same period of 2023.This decrease was primarily due to the decrease in the average outstanding loan balances of on-balance sheet loans in the international markets,offset by the increase of outstanding loan balance in the China market.

Other revenue wasRMB228.0million (US$31.2million) for the fourth quarter of 2024,compared withRMB125.8 million for the same period of 2023. This increase was primarily due to the increase inthe contributions from other revenue streams.

Origination,servicing expenses and other costs of revenue wereRMB664.0million (US$91.0million) for the fourth quarter of 2024,compared withRMB563.1 million for the same period of 2023.This increase was primarily due to the increase in facilitation costs and loan collection expenses as a result of higher outstanding loan balances.

Sales and marketing expenses wereRMB531.5million (US$72.8million) for the fourth quarter of 2024,compared with RMB491.4 million for the same period of 2023,as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.

Research and development expenses wereRMB126.3million (US$17.3million) for the fourth quarter of 2024,compared withRMB127.6 million for the same period of 2023.

General and administrative expenses wereRMB112.6million (US$15.4million) for the fourth quarter of 2024,compared with RMB115.2 million for the same period of 2023.This decreasewas primarily due to the improvements in operating efficiency.

Provision for accounts receivable and contract assets was RMB95.1 million (US$13.0 million) for the fourth quarter of 2024,compared with RMB36.4 million for the same period of 2023. The increase was primarily due to higher transaction loan volume in the international markets.

Provision for loans receivable wasRMB64.3million (US$8.8million) for the fourth quarter of 2024,compared withRMB107.6 million for the same period of 2023. This decrease was primarily due to the decrease in the loan volume and the outstanding loan balances of on-balance sheet loans in the international markets.

Credit losses for quality assurance commitment wereRMB1,075.0million (US$147.3million) for the fourth quarter of 2024,269.5 million for the same period of 2023. The decrease was primarily due to the decrease in the proportion of risk bearing loans and the improvement in credit risk performance.

Operating profit wasRMB787.9million (US$107.9million) for the fourth quarter of 2024,compared withRMB512.8 million for the same period of 2023.

Non-GAAP adjusted operating income,was RMB822.0 million (US$112.6 million) for the fourth quarter of 2024,compared with RMB547.0 million for the same period of 2023.

Other income was RMB25.9 million (US$3.6 million) for the fourth quarter of 2024,compared with RMB67.6 million for the same period of 2023. The decrease was mainly due to the decrease in government subsidies.

Income tax expense was RMB133.1 million (US$18.2 million) for the fourth quarter of 2024,compared with RMB51.6 million for the same period of 2023. This increase was mainly due to the increase in pre-tax profit and the change in effective tax rate.

Net profit was RMB680.8 million (US$93.3 million) for the fourth quarter of 2024,compared with RMB528.8 million for the same period of 2023.

Net profit attributable to ordinary shareholders of the Company was RMB680.7million (US$93.3million) for the fourth quarter of 2024,compared with RMB524.6 million for the same period of 2023.

Diluted net profit per ADSwas RMB2.61(US$0.36) and diluted net profit per share was RMB0.52 (US$0.07) for the fourth quarter of 2024,compared with RMB1.92 and RMB0.38 for the same period of 2023 respectively.

Non-GAAP diluted net profit per ADSwas RMB2.74(US$0.38) and non-GAAP diluted net profit per share was RMB0.55 (US$0.08) for the fourth quarter of 2024,compared with RMB2.04 and RMB0.41 for the same period of 2023 respectively. Each ADS represents five Class A ordinary shares of the Company.

As of December 31,the Company had cash and cash equivalents of RMB4,672.8 million (US$640.2 million) and short-term investments,mainly in wealth management products and term deposits,of RMB2,832.4 million (US$388.0 million).

The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company's platform in China's Mainland as of December 31,2024. Loans facilitated under the capital-light model,for which the Company does not bear principal risk,are excluded from the chart.

Click here to view the chart.

Fiscal Year 2024 Financial Results

Net revenue for 2024 wasRMB13,065.8million (US$1,790.0million),compared with RMB12,547.4 million in 2023.

Loan facilitation service fees wereRMB4,694.4million (US$643.1million) for 2024,compared with RMB4,520.5 million in 2023. The increase was primarily due to the increase in transaction volume.

Post-facilitation service fees wereRMB1,740.2million (US$238.4million) for 2024,969.7 million in 2023. This decrease was primarily due to the rolling impact of deferred transaction fees in the China market.

Guarantee income wasRMB5,085.3million (US$696.7million) for 2024,compared withRMB4,479.0 million in 2023. This increase was primarily due to the increased outstanding loan balance of off-balance sheet loans in the international markets,as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment.

Net interest income wasRMB853.8million (US$117.0million) for 2024,049.4 million in 2023.This decrease was primarily due to the decrease in the average outstanding loan balances of on-balance sheet loans in the international markets.

Other revenue was RMB692.1 million (US$94.8 million) for 2024,compared with RMB528.9 million in 2023. This increase was primarily due to the increase in the contributions from other revenue streams.

Origination,servicing expenses and other costs of revenue wereRMB2,381.8million (US$326.3million) for 2024,compared withRMB2,111.5 million in 2023.This increase was primarily due to the increase in facilitation costs and loan collection expenses as a result of higher outstanding loan balances.

Sales and marketing expenses wereRMB2,014.3million (US$276.0million) for 2024,887.4 million in 2023,as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.

Research and development expenses wereRMB496.7million (US$68.1million) for 2024,compared withRMB511.0 million in 2023. This decrease was primarily due to our improvements in technology development efficiency.

General and administrative expenses wereRMB413.5million (US$56.7million) for 2024,compared with RMB390.0 million in 2023.This increasewas primarily due to the increased benefits we provided to our employees.

Provision for accounts receivable and contract assets was RMB317.0 million (US$43.4 million) for 2024,compared with RMB253.9 million in 2023. This increase was primarily due to the decrease in provisions from other third-party platforms in 2023.

Provision for loans receivable wasRMB320.0million (US$43.8million) for 2024,compared withRMB586.8 million in 2023. This decrease was primarily due to the decreases in the transaction volume and the outstanding loan balances of on-balance sheet loans in the international markets.

Credit losses for quality assurance commitment wereRMB4,587.3million (US$628.5million) for 2024,422.8 million in 2023. The increase was primarily due to the increased outstanding loan balances of off-balance sheet loans in the international markets and offset by the decrease in the proportion of risk bearing loans in China.

Operating profit wasRMB2,535.1million (US$347.3million) for 2024,383.9 million in 2023.

Non-GAAP adjusted operating income,was RMB2,679.2 million (US$367.0 million) for 2024,compared with RMB2,500.3 million in 2023.

Other income was RMB310.1 million (US$42.5 million) for 2024,compared with RMB394.7 million in 2023. The decrease was mainly due to the decrease in government subsidies.

Income tax expense was RMB457.4 million (US$62.7 million) for 2024,compared with RMB395.1 million in 2023. This increase was mainly due to the increase in pre-tax profit and the change in effective tax rate.

Net profit was RMB2,387.8 million (US$327.1 million) for 2024,383.5 million in 2023.

Net profit attributable to ordinary shareholders of the Companywas RMB2,383.1million (US$326.5million) for 2024,340.8 million in 2023.

Shares Repurchase Update

For the full year of 2024,the Company deployed a total of US$90.2 million to repurchase its own Class A ordinary shares in the form of ADSs in the market. As of December 31,in combination with the Company's historical and existing share repurchase programs,the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$370.0 million since 2018.

Business Outlook

While the macroeconomic recovery continued to gain traction with pockets of improvement since the beginning of 2024,uncertainties persist in the markets in which we operate. The Company has observed encouraging signs of recovery and will continue to closely monitor macro conditions across our Pan-Asian markets and remain prudent in our business operations. The Company expects its full-year 2025 total revenue guidance to be in the range of approximately RMB14.4 billion to RMB15.0 billion,representing year-over-year growth of approximately 10.0% to 15.0%.

The above forecast is based on the current market conditions and reflects the Company's current preliminary views and expectations on market and operational conditions and the regulatory and operating environment,as well as customers' and institutional partners' demands,all of which are subject to change.

Board Composition Update

The board of directors of the Company has approved that Mr. Simon Tak Leung Ho,who has served as a director of the Company since November 2020,will transition to the role of an independent director.Mr. Ho currently serves as the chief financial officer for GoTo Group,Indonesia. Prior to joining GoTo Group,Mr. Ho served as chief financial officer for Maya Group,Philippines from April 2023 to July 2024,chief financial officer of Tianxia Technology from August 2021 to September 2022and chief financial officer for FinVolution Group from September 2016 to November 2020. Mr. Ho also servedinvarious positions at Citigroup Global Markets Asia Limited from 2008 to 2016 including managing director and head of Asian financials research. Mr. Ho received his bachelor's degree in engineering from Northwestern University,Illinois. Mr. Ho is also a Chartered Financial Analyst.

Conference Call

The Company's management will host an earnings conference call at 8:30 PM U.S. Eastern Time on March 17,2025 (8:30 AM Beijing/Hong Kong Time on March 18,2025).

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

United States (toll free):

+1-888-346-8982

Canada (toll free):

+1-855-669-9657

International:

+1-412-902-4272

Hong Kong,China (toll free):

800-905-945

Hong Kong,China:

+852-3018-4992

Mainland,China:

400-120-1203

Participants should dial in at least five minutes before the scheduled start time and ask to be connected to the call for "FinVolution Group."

Additionally,a live and archived webcast of the conference call will be available on the Company's investor relations website athttps://ir.finvgroup.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until March 24,2025,by dialing the following telephone numbers:

United States (toll free):

+1-877-344-7529

Canada (toll free):

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code:

2187762

AboutFinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition in China,connecting borrowers of the young generation with financial institutions. Established in 2007,the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment,fraud detection,big data and artificial intelligence. The Company's platforms,empowered by proprietary cutting-edge technologies,features a highly automated loan transaction process,which enables a superior user experience. As of December 31,the Company had 208.3 million cumulative registered users across China,Indonesia and the Philippines.

For more information,please visit https://ir.finvgroup.com

Use of Non-GAAP Financial Measures

We use non-GAAP adjusted operating income,non-GAAP operating margin,non-GAAP net profit,non-GAAP net profit attributable to FinVolution Group,and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures,in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our 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.

Non-GAAP adjusted operating income,and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool,and when assessing our operating performance,cash flows or our liquidity,investors should not consider it in isolation,or as a substitute for net income,cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on this non-GAAP financial measure,please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted,all translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00,the rate in effect as of December 31,2024 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934,as amended,and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks,uncertainties and other factors,all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve risks,uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include,but are not limited to,uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace,its ability to increase volume of loans facilitated through the Company's marketplace,its ability to introduce new loan products and platform enhancements,its ability to compete effectively,laws,regulations and governmental policies relating to the online consumer finance industry in China,general economic conditions in China,and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE,including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks,uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release,and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information,future events or otherwise,except as required under applicable law.

For investor and media inquiries,please contact:

In China:

FinVolution Group

Head of Capital Markets

Jimmy Tan,IRC

Tel: +86 (21) 8030-3200 Ext. 8601

E-mail: ir@xinye.com

Piacente Financial Communications

Jenny Cai

Tel: +86 (10) 6508-0677

E-mail: finv@tpg-ir.com

In the United States:

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

E-mail: finv@tpg-ir.com

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands,except share data,or otherwise noted)

As of December 31,

As of December 31,

2023

2024

RMB

RMB

USD

Assets

Cash and cash equivalents

4,969,319

4,672,772

640,167

Restricted cash

1,800,071

2,074,300

284,178

Short-term investments

2,960,821

2,832,382

388,035

Investments

1,135,133

1,173,003

160,701

Quality assurance receivable,net of credit loss allowance for

quality assurance receivable of RMB529,392 and

RMB426,949 as of December 31,2023 and December 31,

respectively

1,755,615

1,639,591

224,623

Intangible assets

98,692

137,298

18,810

Property,equipment and software,net

140,933

623,792

85,459

Loans receivable,net of credit loss allowance for loans receivable

of RMB214,550 and RMB226,467 as of December 31,2023 and

December 31,respectively

1,127,388

4,157,621

569,592

Accounts receivable and contract assets,net of credit loss

allowance for accounts receivable and contract assets of

RMB310,394 and RMB290,267 as of December 31,respectively

2,208,538

2,405,880

329,604

Deferred tax assets

1,624,325

2,513,865

344,398

Right of use assets

38,110

36,826

5,045

Prepaid expenses and other assets

3,384,317

1,289,380

176,644

Goodwill

50,411

50,411

6,906

Total assets

21,293,673

23,607,121

3,234,162

Liabilities and Shareholders' Equity

Deferred guarantee income

1,882,036

1,515,950

207,684

Liability from quality assurance commitment

3,306,132

2,964,116

406,082

Payroll and welfare payable

261,528

290,389

39,783

Taxes payable

207,477

705,928

96,712

Short-term borrowings

5,756

5,594

766

Funds payable to investors of consolidated trusts

436,352

796,122

109,068

Contract liability

5,109

10,185

1,395

Deferred tax liabilities

340,608

491,213

67,296

Accrued expenses and other liabilities

941,899

1,245,184

170,590

Leasing liabilities

35,878

28,765

3,941

Total liabilities

7,422,775

8,053,446

1,103,317

Commitments and contingencies

FinVolution Group Shareholders' equity

Ordinary shares

103

103

14

Additional paid-in capital

5,748,734

5,815,437

796,712

Treasury stock

(1,199,683)

(1,765,542)

(241,878)

Statutory reserves

762,472

852,723

116,823

Accumulated other comprehensive income

80,006

92,626

12,689

Retained Earnings

8,357,153

10,717

1,398,588

Total FinVolution Group shareholders' equity

13,785

15,204,064

2,082,948

Non-controlling interest

122,113

349,611

47,897

Total shareholders' equity

13,870,898

15,553,675

2,130,845

Total liabilities and shareholders' equity

21,162

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

INCOME

(All amounts in thousands,or otherwise noted)

For the Three Months Ended December 31,

For the Year Ended December 31,

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Operating revenue:

Loan facilitation service fees

1,107,434

1,344,799

184,237

4,520,504

4,694,380

643,127

Post-facilitation service fees

495,431

460,465

63,083

1,705

1,740,241

238,412

Guarantee income

1,267,515

1,205,502

165,153

4,478,995

5,085,296

696,683

Net interest income

227,426

217,927

29,856

1,049,379

853,779

116,967

Other Revenue

125,791

227,999

31,236

528,862

692,128

94,821

Net revenue

3,223,597

3,456,692

473,565

12,547,445

13,065,824

1,790,010

Operating expenses:

Origination,servicing expenses and other cost of

revenue

(563,142)

(663,982)

(90,965)

(2,111,515)

(2,381,839)

(326,311)

Sales and marketing expenses

(491,381)

(531,530)

(72,819)

(1,887,442)

(2,014,254)

(275,952)

Research and development expenses

(127,605)

(126,257)

(17,297)

(510,986)

(496,740)

(68,053)

General and administrative expenses

(115,209)

(112,570)

(15,422)

(390,022)

(413,548)

(56,656)

Provision for accounts receivable and contract assets

(36,413)

(95,132)

(13,033)

(253,948)

(317,049)

(43,436)

Provision for loans receivable

(107,562)

(64,346)

(8,815)

(586,843)

(320,013)

(43,842)

Credit losses for quality assurance commitment

(1,269,514)

(1,955)

(147,268)

(4,802)

(4,587,254)

(628,451)

Total operating expenses

(2,710,826)

(2,668,772)

(365,619)

(10,163,558)

(10,530,697)

(1,442,701)

Operating profit

512,771

787,920

107,946

2,383,887

2,535,127

347,309

Other income,net

67,633

25,945

3,554

394,698

310,123

42,487

Profit before income tax expense

580,404

813,865

111,500

2,778,585

2,845,250

389,796

Income tax expenses

(51,572)

(133,110)

(18,236)

(395,100)

(457,405)

(62,664)

Net profit

528,832

680,755

93,264

2,485

2,387,845

327,132

Less: Net profit/(loss) attributable to non-controlling

interest shareholders

4,273

50

7

42,650

4,699

644

Net profit attributable to FinVolution Group

524,559

680,705

93,257

2,340,835

2,146

326,488

Foreign currency translation adjustment,net of nil tax

8,855

249,597

34,195

27,769

234,012

32,060

Total comprehensive income attributable

to FinVolution Group

533,414

930,302

127,452

2,368,604

2,617,158

358,548

Weighted average number of ordinary shares used in

computing net income per share

Basic

1,342,940,746

1,266,235,809

1,809

1,374,713,018

1,287,853,207

1,207

Diluted

1,367,430,282

1,303,393,465

1,465

1,402,947,561

1,320,229,492

1,492

Net profit per share attributable to FinVolution

Group's ordinary shareholders

Basic

0.39

0.54

0.07

1.70

1.85

0.25

Diluted

0.38

0.52

0.07

1.67

1.81

0.25

Net profit per ADS attributable to FinVolution

Group's ordinary shareholders (one ADS equal

five ordinary shares)

Basic

1.95

2.69

0.37

8.51

9.25

1.27

Diluted

1.92

2.61

0.36

8.34

9.03

1.24

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS[18]

(All amounts in thousands,or otherwise noted)

Three Months Ended December 31,

Year Ended December 31,

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Net cash provided by operating

activities

45,284

299,509

41,033

1,360,872

2,893,160

396,361

Net cash provided by/(used in)

investing activities

(104,246)

(745,555)

(102,141)

1,411,992

(2,295,816)

(314,526)

Net cash provided by/(used in)

financing activities

(1,030,417)

255,302

34,976

(2,505,002)

(622,715)

(85,312)

Effect of exchange rate changes on

cash and cash equivalents

(4,975)

5,406

741

22,441

3,053

419

Net increase/ (decrease) in cash,cash

equivalent and restricted cash

(1,094,354)

(185,338)

(25,391)

290,303

(22,318)

(3,058)

Cash,cash equivalent and restricted

cash at beginning of period

7,863,744

6,932,410

949,736

6,479,087

6,769,390

927,403

Cash,cash equivalent and restricted

cash at end of period

6,390

6,747,072

924,345

6,345

FinVolution Group

UNAUDITED Reconciliation of GAAP and Non-GAAP Results

(All amounts in thousands,

For the Year Ended December 31,

2023

2024

2023

2024

RMB

RMB

USD

RMB

RMB

USD

Net Revenues

3,597

3,565

12,445

13,010

Less: total operating expenses

(2,826)

(2,619)

(10,558)

(10,701)

Operating Income

512,771

787,946

2,887

2,309

Add: share-based compensation expenses

34,215

34,064

4,667

116,407

144,052

19,735

Non-GAAP adjusted operating income

546,986

821,984

112,613

2,500,294

2,679,179

367,044

Operating Margin

15.9%

22.8%

22.8%

19.0%

19.4%

19.4%

Non-GAAP operating margin

17.0%

23.8%

23.8%

19.9%

20.5%

20.5%

Non-GAAP adjusted operating income

546,044

Add: other income,633

25,554

394,698

310,487

Less: income tax expenses

(51,572)

(133,236)

(395,100)

(457,664)

Non-GAAP net profit

563,047

714,819

97,931

2,499,892

2,531,897

346,867

Less: Net profit/(loss) attributable to non-

controlling interest shareholders

4,273

50

7

42,650

4,699

644

Non-GAAP net profit attributable to

FinVolution Group

558,774

714,769

97,924

2,457,242

2,527,198

346,223

Weighted average number of ordinary

shares used in computing net income per

share

Basic

1,746

1,018

1,282

1,561

1,492

Non-GAAP net profit per share

attributable to FinVolution Group's

ordinary shareholders

Basic

0.42

0.56

0.08

1.79

1.96

0.27

Diluted

0.41

0.55

0.08

1.75

1.91

0.26

Non-GAAP net profit per ADS attributable

toFinVolution Group's ordinary

shareholders (one ADS equal five ordinary

shares)

Basic

2.08

2.82

0.39

8.94

9.81

1.34

Diluted

2.04

2.74

0.38

8.76

9.57

1.31