XYF X Financial (XYF) Q2 FY26 earnings call
X Financial maintained a disciplined operating approach in Q2 FY26, prioritizing credit quality and balance sheet strength amidst challenging conditions. The company reported sequential improvements in delinquency rates and adjusted net income, driven by tighter underwriting and cost controls. However, loan origination volumes, active borrowers, and outstanding loan balances continued to decline significantly year-over-year and sequentially. Management is focused on capital preservation and exploring new business opportunities, while continuing capital returns to shareholders.
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XYF operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call 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.