X Financial

Hello and welcome to the ex-financial third quarter 2022 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Victoria Yu. Please go ahead.

Thank you, Operator. Hello, everyone, and thank you for joining us today. The company's results were released earlier today and are available on the company IR website at irxiaoyinggroup.com. On the call today from Financial, are Mr. Ken Lee, President, and Mr. Frank Fuya Zheng, Chief Financial Officer. Mr. Lee will give a brief overview of the company's business operations and highlights, followed by Mr. Zheng, who will go through the financials. They are all available to answer your questions during the Q&A session. I remind you that this call may contain forward-looking statements under the safe harbor provisions of the Private Securities Legitimacy Reform Act of 1995. Such statements are based on management's current expectations and current market operating conditions and relate to events that involve known and unknown risks, uncertainties, and other factors, all of which are difficult to predict, and many of which are beyond the company's control, which may cause the company's actual results, performance, and achievements to defer materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, and factors is included in the company's filings with the U.S. Securities and Exchange Commission. The company does not undertake any obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required under law. It is now my pleasure to introduce Mr. Ken Lee. Mr. Lee, please go ahead.

Hello, everyone. We are pleased with our operational and financial results in the third quarter. The known facilitation amount reached the high end of our previous guidance. Asset quality steadily improved, and both top-line and bottom-line saw sequential growth. Against the macro headwinds, such as economic slowdown and consumption softness amid the COVID-19 resurgence, Our performance further demonstrated our healthy fundamentals, effective strategic positioning, proven strategy, and strong execution capability. During the third quarter, our total loan amount facilitated and originated reached about RMB 20 billion, an increase of 31% year-over-year and 17% quarter-over-quarter. we continued to improve our asset quality with prudent risk management. On a sequential basis, the delinquency rate for all outstanding loan past due for 31 to 60 days decreased from 0.93% to 0.77% as of the end of September. In addition, we further expanded our premium borrower base. Our number of active borrowers increased to 1.4 million in the third quarter a new record in the company's history. This expanding premium borrower base has underpinned our quality growth during challenging times and laid a solid foundation for our future development. Moving ahead, we will continue to enhance our risk management and borrow acquisition efforts. We believe China's consumer and micro and small business financing markets still have great potential and we are confident of delivering sustainable growth in the long term. During recent months, we continued to execute our share repurchase program initiated earlier this year. This share repurchase program is aligned with our commitment to enhancing shareholder value and reflects the Board's confidence in the company's long-term prospects. Our Board further increased our share repurchase program to $30 million, $30 million U.S. dollars. We believe that our business strategy and execution will continue to further enhance shareholder value in the long term. Now, I will turn the call to Frank, who will go through our financials.