Yirendai

Asia/Pac News Roundup Online Lending USA

·Mar. 17, 2017

Lend Academy Article: Yirendai Q4 2016 Earnings Review

Yirendai released its Q4 2016 earnings after the closing bell on March 15; the Chinese online lender issued a US initial public offering of its stock in December 2015; Lend Academy provides an analysis of the company's Q4 2016 results in their article; the firm has been growing online loan originations by over 100% per year since 2013; mobile has been a significant factor for the company with 98.8% of online volume generated through Yirendai's mobile application and 85% of investors using the mobile application for investment; as a well-established firm, Yirendai is also benefiting from China's P2P regulatory focus and a higher quality portfolio of borrowers and lenders; the firm is expanding its product lines and also offering a new platform as a service product, the Yirendai Enabling Platform; it expects a similar pace of growth in 2017 with minimum projected loan originations of RMB 33 billion ($4.753 billion) compared to RMB 20.28 billion ($2.9 billion) in 2016 and minimum revenue of RMB 4.4 billion ($634 million) compared to RMB 3.2 billion ($466.4 million) in 2016. Source

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Asia/Pac News Roundup Online Lending

·Apr. 3, 2017

Big to Strong: China Fintech Entering a New Era

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

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News Roundup Online Lending

·Nov. 1, 2016

Yirendai’s Stock Price and Activity Strengthens

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

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Asia/Pac News Roundup Online Lending

·Mar. 30, 2017

Yirendai Announces Performance Bond Agreement with PICC P&C

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

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Asia/Pac News Roundup Online Lending

·Apr. 21, 2017

Developments from Yirendai on New Securitization

Chinese online consumer lender Yirendai has announced progression toward securitization of a portfolio of consumer loans; the firm has transferred an existing trust fund of RMB300 million ($43.6 million) used to fund loans on its platform to Bohai International Trust Co., Ltd., and the firm has completed the issuance of asset-backed securities in the amount of RMB300 million through private placements. Source

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Asia/Pac News Roundup Online Lending

·Mar. 10, 2017

Yirendai Launches New Platform at LendIt USA

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

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Fintech News Roundup

·Apr. 17, 2018

Yirendai and Hexindai Rise in China’s P2P Lending Market

China’s regulators have imposed extra cost and forced some emerging p2p lenders out of business as they look to eliminate problematic and fraudulent companies; Sara Hsu of Forbes sat down with Yihan Fang of Yirendai, and with Johnson Zhang of Hexindai at LendIt Fintech USA 2018 to discuss the current states of p2p lending in China. Source.

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Asia/Pac News Roundup Online Lending

·Mar. 30, 2017

Yirendai in California Court Case for Shareholder Lawsuit

Yirendai is being sued by shareholders for inadequate transparency, regulatory activity and risk management regarding Chinese government regulations; the company has requested the court toss the case; the case is focused on worst case revenue predictions that the company says were never realized. Source

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Asia/Pac News Roundup Online Lending

·Aug. 1, 2017

Yirendai Reports Second Quarter Results, Beats Estimates

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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