Jiayin Group Inc.

Good day, ladies and gentlemen. Thank you for standing by. And welcome to the Giant Group's fourth quarter 2021 earnings conference call. Currently, all participants are on a listen-only mode. Later, we will conduct a question and answer session, and instructions will follow that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. I will now turn the call over to Mr. Sean Zhang from Investor Relations of Giant Group. Please go ahead.

Good day, everyone. Thank you all for joining us on today's conference call to discuss Giant Group's financial results for the fourth quarter and the full year of 2021. We released the result earlier today. The press release is available on the company's website, as well as from NewsWare Services. On the call with me today are Mr. Yan Dinggui, Chief Executive Officer Ms. Celia Chen, Co-Chief Financial Officer, and Ms. Xu Yifan, Chief Risk Officer. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Security Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be immaterially different from the expectation expressed today. Further information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statement except as required under applicable law. Please note that unless otherwise stated, all figures mentioned during the conference call are in Chinese streaming B. With that, let me now turn the call over to our CEO, Mr. Yan Dinggui. Please go ahead, sir.

Hello, everyone. Thanks for joining our first quarter 2021 earnings conference call. In 2021, we continue to navigate a volatile microenvironment while remaining committed to building upon our core competitive advantages. After we shifted our funding sources from individuals to institutional funding partners in 2020, we prioritized forging partnerships with the financial institutions, diversifying our funding sources, strengthening our risk management systems and enhancing the critical profiles of our borrowers and improve our asset quality. We have observed multiple policy changes in 2021, including the cap on loan pricing at 24%. We actively responded to the new policies and airline our pricing strategy in line with the regulatory requirements of our founding partners. As a result, despite intensifying regulatory oversight and macro uncertainties, we studied at the forefront of the FinTech space and delivered solid financial and operating results in 2021. Notably, Lloyd's original volume increased by 89.7% year-over-year to $21.91 billion from $11.55 billion in 2020, while our revenue grew by 36.9% to $1.78 billion. As we attend our rapid portfolio growth, We also maintain a manageable delinquency rate by improving our overall credit risk profile of borrowers on our platform. Our 30-day delinquency rate finished the year at 1.31% compared to 1.34% at the end of September. The 19-day delinquency rate increased slightly to 0.72% from 0.6% at the end of September, but still ahead of the industry average. In the fourth quarter, as we continue to expand our borrower phase, we refine our marketing programs to prioritize acquiring new customers with a high credit quality. As we improved the accuracy of our marketing programs, we are able to reach our target customers more efficiently. Consequently, the number of borrowers with above-average credit profiles continues to rise, which in turn enables us to increase our platform's overall credit quality while expanding our borrow base. We also continue to invest our development of our integrated, highly automatic platforms with industry-leading risk management capabilities to serve as ideal partners to financial institutions. By the end of 2021, we have forged partnerships with 38 financial institutions, and we are currently in discussion with another 46 institutions to further expand our partnerships and diversify funding resources. As of now, most of our existing institutional funding partners are commercial banks. We are actively developing collaborations with national banks and consumer financing services provided to mitigate the certain challenges we had in regional markets with our existing partnership structure. Meanwhile, we remain focused on empowering our partner financial institutions through our full suite of serving offerings that span from borrowed, acquisition to loan administration services. We are constantly optimizing these services to help our partners better execute their business initiatives while improving their operating efficiency and decision-making process. Going forward, we plan to explore more innovative ways to cooperate with our funding partners. In addition to deepening our collaboration with financial institutions, we also continue to optimize our product portfolio during the quarter. For example, we launched a loan program for small business owners in the fourth quarter. Small business owners are one of the most marginalized and underserved groups for law and services, even though small and middle-sized businesses contribute 50% of the taxes, 60% of the Chinese GDP, and 70% of the technical innovation, 80% of the employment, and make up 19% of all companies in the country. To better serve the backbone of our country's economic development and the common prosperity in trade use, We will continue to increase the investments in product offering for SMEs. In terms of our global expansion, we tailored our growth strategy for each region based on the current stage of business development. The Mexican market in particular achieved a robust growth momentum. and we are also on track to develop new partnerships with additional licensed financial institutions in Mexico to further expand our local operations and fortify our market leadership. Notably, in Australia, we have already obtained a necessary financial service license. We continue to accelerate our business business expansion, we are regularly developing and upgrading our products and services in regions, which enable us to continue to improve the region's profit margin. Going forward, we plan to penetrate other very promising international markets, especially emerging markets in Southeast Asia, to build a multi-faceted cross-field and diversified global business metrics. Looking back on 2021, we saw major changes on the regulatory front and unprecedented disruptions to the long call by COVID-19, as well as other increased uncertainties in the macro environment. However, we remain undeterred by these challenges to achieve daily business growth, improve our critical risk profiles, expanding our borrow space, and optimize our product portfolio. As evidence of this success in our efforts, we recorded 21.91 billion in loan or annulation volume in the full year of 2021. Near the higher aid of our previous guidance for 2022, we are confident that our market leadership will enable us to carry through our goals, momentum to achieve long origination of 36 billion living beings. With that, I will now turn the call over to our CFO, Celia Chen. Celia, please go ahead.