XYF X Financial (XYF) Q1 FY26 earnings call
A shrink-to-survive quarter: X Financial deliberately cut origination and marketing to defend portfolio quality as PRC regulators tighten internet-lending oversight and consumer credit stress deepens industry-wide. Early signs of sequential operating stabilization are emerging even as year-over-year profitability stays deeply depressed, and a heavily capitalized, cash-rich balance sheet funds the wait. Notably, the Q&A session drew no analyst questions.
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XYF operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Loan origination volume | 14.63B CNYDuring the quarter, we facilitated and originated RMB 14.63 billion in loans, a decline of 58.4% year-over-year and 35.8% sequentially from the fourth quarter.Source: earnings call transcript | 11.63B CNYDuring the quarter, we facilitated and originated RMB 11.63 billion in loans, a decline of 70.2% year-over-year and 20.5% sequentially from the first quarter.Source: earnings call transcript | -20.5% |
| Active borrowers | ~956.52KWe served approximately 956,520 active borrowers, down 60.6% year-over-year and 43.5% from the prior quarter.Source: earnings call transcript | ~720.258KFrom a volume standpoint, we served approximately 720,258 active borrowers in the quarter, down 74.8% year-over-year and 24.7% from the prior quarter.Source: earnings call transcript | — |
| Loans facilitated | ~1.25MWe facilitated approximately 1.25 million loans during the period with an average loan size of RMB 11,741 per transaction.Source: earnings call transcript | ~910KWe facilitated approximately 0.91 million loans during the period.Source: earnings call transcript | — |
| Average loan size | 11.741K CNYWe facilitated approximately 1.25 million loans during the period with an average loan size of RMB 11,741 per transaction.Source: earnings call transcript | 12.712K CNYThe average loan amount per transaction rose to RMB 12,712, up 8.3% from the prior quarter and 21.3% year-over-year, reflecting a shift in transaction mix toward higher-quality borrowers.Source: earnings call transcript | +8.3% |
| Outstanding loan balance | 35.3B CNYOutstanding loan balance at the quarter end stood at RMB 35.3 billion, a decline of 39.6% from the same period of 2025.Source: earnings call transcript | 24.97B CNYOutstanding loan balance at the quarter end stood at RMB 24.97 billion, a decline of 61.5% from the same period of 2025 and 29.2% from the year of the first quarter -- from the end of the first quarter.Source: earnings call transcript | -29.3% |
| 31- to 60-day delinquency rate | 2.61%As of March 31, our 31- to 60-day delinquency rate was 2.61% compared with 2.9% at the end of Q4 2025 and 1.25% as of the same period of 2025.Source: earnings call transcript | 1.73%As of June 30, our 31- to 60-day delinquency rate was 1.73%, compared with 2.61% at the end of Q1 2026 and 1.16% as of the same period of 2025.Source: earnings call transcript | -0.9 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.