Yirendai has announced it will release its Q3 unaudited earnings on November 15, 2016, after the US markets close; analyst Peter Engelwood is reporting that in the last quarter, institutional investors have increased their percentage holding of Yirendai's equity by 1.53%, to a total of 6.20%; the stock has risen from approximately $20 to $29 in the past month. Source
Yirendai, an affiliate of CreditEase, is the only Chinese online lender publicly traded on a US exchange; its stock price closed at $29.29 prior to the company's earnings announcement after the closing bell on March 15; year-to-date the stock is up 41.36%; the earnings results showed revenue of $154.3 million for the fourth quarter, beating estimates by $19.38 million and increasing 137% from the comparable quarter; revenue for the year was $466.4 million an increase from $190.1 million in 2015; earnings per share for the fourth quarter were $0.91, beating estimates by $0.58 and increasing 287% from the comparable quarter; earnings per share for the year were $2.72 an increase from $0.79. Source
The new agreement with PICC P&C would provide Yirendai with a performance bond for certain loans originated through their marketplace; PICC P&C agreed to reimburse investors should any losses occur because of due diligence issues; Yihan Fang, CEO of Yirendai, said, "We are pleased to begin working with PICC P&C on performance bond. We believe a strong alliance between our two industry-leading companies will enable us to provide higher quality products and services to our customers to better serve the large demand for personal finance." Source
Though fairly young, fintech in China has really taken off the last few years as Yihan Fang, CEO of Yirendai explained in her LendIt USA 2017 keynote; when compared to other industries like insurance, fintech has shown a great deal of promise; payments have become widespread, online lending is growing steadily and new technologies like blockchain have taken off; this has allowed Yirendai to help the underbanked and create a credit data infrastructure; after a few high profile fraud cases the government has started to regulate the industry closely and the number of lenders has been consolidated; Yihan is optimistic about the future, she expects to be lending $15 billion per year by 2020 and hopes to increase the average assets under management of each high net worth investor on their platform. Source
Yirendai is an online lending business unit of CreditEase with stock traded on the New York Stock Exchange (NYSE: YRD); the firm is one of the most successful online lenders in China's online lending market; Lend Academy talks with the firm's CEO Yihan Fang in their podcast; Yihan Fang provides details on Yirendai's platform and gives her insight on China's online lending market. Source
Yirendai launched a new open technology platform at LendIt USA called Yirendai Enabling Platform; the platform will provide solutions for data acquisition, anti-fraud technology and customer acquisition; it is primarily targeted for Chinese marketplace lenders; its capabilities are expected to help marketplace lending companies improve customer experience, increase efficiency, lower costs and mitigate fraud. Source
Since Lending Club first went public we have been reviewing their quarterly earnings and have also begun covering OnDeck’s earnings. However,...
For the second quarter, Yirendai reported revenue of $174.5 million, beating estimates by $16.36 million and increasing revenue 58% from the second quarter of 2016; earnings per share remained steady at $0.66 and beat earnings estimates by $0.04; the company reported loans originated of $1.2 billion in the second quarter, an increase of 80% in comparison to the second quarter of 2016. Source
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