Marks FINV's sixth consecutive year of
dividend declarations
SHANGHAI, March 18,
2024 /PRNewswire/ -- FinVolution Group
("FinVolution," or the "Company") (NYSE: FINV), a leading fintech
platform, today announced that its board of directors (the "Board")
has approved a cash dividend of US$0.237 per American Depositary Share (ADS) for
fiscal year 2023. The dividend is expected to be distributed on or
around May 7, 2024 to shareholders of
record as of the close of business on April
16, 2024.
The decision to distribute dividends and the amount of such
dividend payments was determined at the Board's discretion based on
the Company's operations, earnings, cash flows, financial condition
and other relevant factors.
Mr. Shaofeng Gu, Chairman of the
Board and Chief Innovation Officer of the Company, commented, "In
line with our consistent commitment to enhancing shareholder value,
we are delighted to distribute dividends for the sixth consecutive
year. Our share repurchase program, coupled with this year's
dividend payment, brings our capital return to approximately
US$160.0 million, representing 48.5%
of the Company's net income for fiscal year 2023."
Mr. Tiezheng Li, Vice Chairman of
the Board and Chief Executive Officer of the Company commented,
"Strong execution of our Local Focus, Global Outlook Strategy has
strengthened our business both in China and international markets, enabling us
to deliver sustainable, high-quality growth while sharing the
profits with our shareholders."
About FinVolution Group
FinVolution Group is a leading fintech platform with strong
brand recognition in China and the
international markets connecting borrowers of the young generation
with financial institutions. Established in 2007, the Company is a
pioneer in China's online consumer
finance industry and has developed innovative technologies and has
accumulated in-depth experience in the core areas of credit risk
assessment, fraud detection, big data and artificial
intelligence. The Company's platforms, empowered by proprietary
cutting-edge technologies, features a highly automated loan
transaction process, which enables a superior user experience. As
of December 31, 2023, the Company had
over 180.2 million cumulative registered users across China, Indonesia and the
Philippines.
For more information, please visit: http://ir.finvgroup.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Such statements are based upon
management's current expectations and current market and operating
conditions and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Potential risks and
uncertainties include, but are not limited to, uncertainties as to
the Company's ability to attract and retain borrowers and investors
on its marketplace, its ability to increase volume of loans
facilitated through the Company's marketplace, its ability to
introduce new loan products and platform enhancements, its ability
to compete effectively, laws, regulations and governmental policies
relating to the online consumer finance industry in China, general economic conditions in
China, and the Company's ability
to meet the standards necessary to maintain listing of its ADSs on
the NYSE, including its ability to cure any non-compliance with the
NYSE's continued listing criteria. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
this press release, and FinVolution does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan, IRC
Tel: +86 (21) 8030 3200 Ext. 8601
Email: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
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SOURCE FinVolution Group
