Why Are Jiayin Shares Trading Higher Today?

Why Are Jiayin Shares Trading Higher Today?
  • Jiayin Group Inc JFIN shares traded higher by 24.4% at $4.89 on the last check Wednesday.
  • The Chinese fintech platform reported second-quarter FY21 revenue growth of 100.9% year-on-year to $76.2 million, beating the analyst consensus of $54.8 million.
  • Revenue from loan facilitation services expanded 178% Y/Y to $70.3 million due to higher loan origination volume from its institutional funding partners. 
  • The loan origination volume jumped 153% Y/Y to $877.1 million, and the repeat borrowing rate was 72.4%, up 40 bps.
  • Net income jumped 208.5% Y/Y to$19.6 million. EPS of $0.09 missed the consensus of $0.21.
  • Jiayin held $21.9 million in cash and equivalents.

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