PR Newswire: news distribution, targeting and monitoring
Home Page > News Releases > Global

Hexindai Reports Third Quarter of Fiscal Year 2018 Financial Results

2018-02-13 18:51

BEIJING, Febr. 13, 2018 /PRNewswire/ -- Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer lending marketplace in China, today announced its unaudited financial results for the third quarter ended December 31, 2017.

On November 3, 2017, the Company completed its initial public offering ("IPO") and issued 5,036,950 American Depositary Shares ("ADS") at US$10 per ADS for an aggregate offering price of US$ 50,369,500. Throughout the release, each ADS represents one ordinary share. Fiscal year refers to the 12 months ended March 31.

Third Quarter of Fiscal Year 2018 Operational Highlights

  • Total loan volume facilitated (1) was US$388.7 million (RMB2.6 billion) during the third quarter of fiscal year 2018, an increase of 187.1% from the third quarter of fiscal year 2017.
  • Gross billing amount (net of VAT)(2) was US$46.9 million during the third quarter of fiscal year 2018, an increase of 483.8% from the third quarter of fiscal year 2017.
  • Gross billing ratio (net of VAT)(3) for credit loans was 12.1% during the third quarter of fiscal year 2018, an increase from 7.4% during the third quarter of fiscal year 2017.
  • Number of borrowers (4) was 32,417 during the third quarter of fiscal year 2018, an increase of 285.3% from the third quarter of fiscal year 2017.
  • Number of investors (5) was 57,846 during the third quarter of fiscal year 2018, an increase of 132.0% from the third quarter of fiscal year 2017.

(1) Loan volume is defined as the total principal amount of loans facilitated on our marketplace during the relevant period.

(2) "Gross billing amount" is defined as the aggregated loan facilitation fees and loan management fees charged to borrowers before cash incentives, net of value added tax. It differs from the revenue recognized at the time of recognition. For an individual secured loan transaction, the gross billing amount equals the gross accumulative loan management service revenue recognized over the term of the secured loan. For the traditional individual credit loan transaction, as the loan facilitation service fees are charged upfront upon the release of funds to borrowers, the gross billing amount equals the loan facilitation service revenue, while for the newly introduced individual credit loan we launched from this period, the service fees are charged each period, the gross billing amount equals the gross accumulative loan management service revenue recognized over the estimated term of the credit loan.

(3) "Gross billing ratio" is defined as the gross billing amount divided by loan volume facilitated, presented in percentage. It is an operation metric we believe is a more accurate indicator of profitability.

(4) Refers to borrowers who recorded successful borrowing activity on our online marketplace during the relevant period.

(5) Refers to investors who made loan investments on our online marketplace during the relevant period.

Hexindai's platform had facilitated approximately US$2.2 billion (RMB14.0 billion) in loan principal from the inception of its business in March 2014 through December 31, 2017.

Third Quarter of Fiscal Year 2018 Financial Highlights

  • Net revenue was US$43.3 million during the third quarter of fiscal year 2018, an increase of 575.9% from the third quarter of fiscal year 2017.
  • Operating expenses were US$11.7 million during the third quarter of fiscal year 2018, an increase of 209.9% from the third quarter of fiscal year 2017.
  • Net income was US$26.9 million during the third quarter of fiscal year 2018, a significant increase of 1589.1% from the third quarter of fiscal year 2017.
  • Adjusted net income attributable to Hexindai Inc.'s shareholder (non-GAAP) in the third quarter of fiscal year 2018 was US$27.6 million, increased by 1632.6% from US$1.6 million in the third quarter of fiscal year 2017.
  • Basic EPS in the third quarter of fiscal year 2018 was US$0.58 compared to US$0.04 in the same period of fiscal year 2017.
  • Diluted EPS in the third quarter of fiscal year 2018 was US$0.52 compared to US$0.04 in the same period of fiscal year 2017.

Nine Months Ended December 31, 2017 Operational Data

Loan volume

Total loan volume facilitated during the nine months ended December 31, 2017 was US$844.9 million (RMB5.7 billion), an increase of 124.4% from US$378.8 million (RMB2.5 billion) during the same period of fiscal year 2017.

Number of borrowers

Number of borrowers was 67,850 during the nine months ended December 31, 2017, an increase of 237.8% from the same period of fiscal year 2017.

Number of investors

Number of investors was 100,845 during the nine months ended December 31, 2017, an increase of 126.4% from the same period of fiscal year 2017.

"We delivered another solid quarter of financial and operational growth," commented Mr. Xinming Zhou, Chief Executive Officer of Hexindai. "Loan volumes continued to grow at a triple-digit pace as did the number of investors and borrowers on our platform. The percentage of loan volume acquired through online channels reached another historic high of 24% during the quarter, more than double the 10% from last quarter. We continue to deepen our cooperative agreements with other third-party acquisition channels and are benefiting from the trust and reliability that being a publicly listed company generates. Last month we began holding investor education seminars across China to introduce current and prospective investors on our platform to our advanced risk management systems, development strategy and insurance policies among other topics which we believe will help further increase trust in our platform and strengthen our brand equity. We will continue to invest in enhancing our IT infrastructure and increasing operational efficiency to reinforce our competitive advantage in China's rapidly growing consumer lending marketplace."

Third Quarter of Fiscal Year 2018 Unaudited Financial Results

Net revenue

Net revenue during the third quarter of fiscal year 2018 was US$43.3 million, an increase of 575.9% compared to US$6.4 million during the same quarter of fiscal year 2017. The increase was primarily due to the significant increase in the volume of credit loans facilitated through Hexindai's marketplace, which increased from RMB0.7 billion (US$0.1 billion) in the third quarter of fiscal year 2017 to RMB2.6 billion (US$0.4 billion) in the same quarter of fiscal year 2018. The increase in the volume of credit loans facilitated through our marketplace was driven by an increase in the number of credit loan borrowers from 8,403 in the third quarter of fiscal year 2017 to 32,417 in the same quarter of fiscal year 2018. The increase in net revenues was also due to the increase in gross billing ratio (net of VAT) for credit loans from 7.4% in the third quarter of fiscal year 2017 to 12.1% in the same quarter of fiscal year 2018. The risk reserve liability charge decreased from US$1.6 million in the three months ended December 31, 2016 to nil in the three months ended December 31, 2017 as our risk reserve liability policy has been discontinued and replaced by a third party insurance arrangement since February 1, 2017, there was no risk reserve liability charge in the three months ended December 31, 2017, which also contributed to the increase of net revenue.

Operating expenses

Total operating expenses during the third quarter of fiscal year 2018 were US$11.7 million, an increase of 209.9% from US$3.8 million in the same quarter of last fiscal year. The significant increase was primarily due to increase in sales and marketing expenses and general and administrative expenses.

Sales and marketing expenses

Sales and marketing expenses during the third quarter of fiscal year 2018 were US$5.5 million, an increase of 288.3% from US$1.4 million during the same quarter of last fiscal year. The increase was primarily due to an increase in employee expenses and a series of promotional and brand image campaigns to enhance the Company's brand recognition and acquire more customers.

Service and development expenses

Service and development expenses during the third quarter of fiscal year 2018 were US$3.2 million, an increase of 114.8% from US$1.5 million during the same quarter of last fiscal year. The increase was primarily attributable to an increase in employee expenses, platform maintenance fees and custodian bank account management fees which were in line with growth in the volume of loans facilitated through the Company's platform.

General and administrative expenses

General and administrative expenses during the third quarter of fiscal year 2018 were US$3.0 million, an increase of 245.6% from US$0.9 million during the same period of last fiscal year. The increase was primarily attributable to an increase in employee expenses, professional service fees and the share-based compensation expenses.

Net income

As a result of the foregoing, a significant increase of 1589.1% in our net income, which increased from US$1.6 million during the third quarter of fiscal year 2017 to US$26.9 million during the same quarter of fiscal year 2018.

Adjusted net income attributable to Hexindai Inc.'s shareholder and adjusted EPS

Adjusted net income attributable to the Company's shareholders, which excluded share-based compensation expenses, increased by 1632.6% to US$27.6 million in the third quarter of fiscal year 2018 from US$1.6 million in the same quarter of fiscal year 2017. Accordingly, the adjusted earnings per basic share increased to US$0.60 in the third quarter of fiscal year 2018 from US$0.04 in the same period of fiscal year 2017 and the adjusted earnings per diluted share increased to US$0.54 in the third quarter of fiscal year 2018 from US$ 0.04 in the same quarter of fiscal year 2017.

Nine Months Ended December 31, 2017 Unaudited Financial Results

Net revenue

Net revenue during the nine months ended December 31, 2017 was US$79.6 million, an increase of 414.8% from US$15.5 million during the same period of last fiscal year. The increase was primarily due to the significant increase in the volume of credit loans facilitated through Hexindai's marketplace, which increased from RMB1.5 billion (US$0.2 billion) in the nine months ended December 31, 2016 to RMB5.6 billion (US$0.8 billion) in the nine months ended December 31, 2017. The increase in the volume of credit loans facilitated through our marketplace was driven by an increase in the number of credit loan borrowers from 19,724 in the nine months ended December 31, 2016 to 67,815 in the nine months ended December 31, 2017. The increase in net revenues was also due to the increase in gross billing ratio (net of VAT) for credit loans from 7.4% in the nine months ended December 31, 2016 to 10.4% in the nine months ended December 31, 2017. The risk reserve liability charge decreased from US$4.0 million in the nine months ended December 31, 2016 to nil in the nine months ended December 31, 2017 as our risk reserve liability policy has been discontinued and replaced by a third party insurance arrangement since February 1, 2017, there was no risk reserve liability charge in the nine months ended December 31, 2017, which also contributed to the increase of net revenue.

Operating expenses

Total operating expenses during the nine months ended December 31, 2017 were US$23.0 million, an increase of 152.4% from US$9.1 million in nine months ended December 31, 2016. The significant increase was primarily due to increase in sales and marketing expenses and general and administrative expenses.

Sales and marketing expenses

Sales and marketing expense during the nine months ended December 31, 2017 were US$11.7 million, an increase of 259.6% from US$3.3 million from the same period of last fiscal year. The increase was primarily due to an increase in employee expenses, a marketing campaign for new products launched in July 2017 and a series of promotional and brand image campaigns to enhance the Company's brand recognition and acquire more customers.

Service and development expenses

Service and development expenses during the nine months ended December 31, 2017 were US$6.4 million, an increase of 66.3% from US$3.9 million during the same period of last fiscal year. The increase was primarily attributable to an increase in employee expenses, platform maintenance fees and custodian bank account management fees which were in line with growth in the volume of loans facilitated through the Company's platform.

General and administrative expenses

General and administrative expenses during the nine months ended December 31, 2017 were US$4.8 million, an increase of 143.8% from US$2.0 million during the same period of last year. The increase was primarily attributable to an increase in employee expenses, professional service fees and the share-based compensation expenses.

Net income

As a result of the foregoing, a significant increase of 1016.3% in our net income, which increased from US$4.3 million during the nine months ended December 31, 2016 to US$48.5 million during the same period of this fiscal year.

Adjusted net income attributable to Hexindai Inc.'s shareholder and adjusted EPS

Adjusted net income attributable to the Company's shareholders, which excluded share-based compensation expenses, increased by 1032.4% to US$49.2 million during the nine months ended December 31, 2017 from US$4.3 million in the nine months ended December 31 2016. Accordingly, the adjusted earnings per basic share increased to US$1.12 during the nine months ended December 31, 2017 from US$0.10 in the same period of last fiscal year and the adjusted earnings per diluted share increased to US$1.07 during the nine months ended December 31, 2017 from US$0.10 in the same period of last fiscal year.

Cash and Cash Flow

As of December 31, 2017, the Company had cash and cash equivalents of US$139.3 million. Net cash provided by operating activities for the nine months ended December 31, 2017 was US$65.0 million, compared to net cash provided by operating activities of US$3.9 million in the same period last fiscal year. The increase in operating cash flow was mainly due to increased net income during nine months ended December 31, 2017. Net cash provided by financing activities for the nine months ended December 31, 2017 was US$52.5 million, compared to net cash provided by financing activities of US$1.1 million in the same period of last fiscal year. The increase in financing activities was mainly due to the net proceeds of US$43.7 million raised from IPO after deducting related costs and expenses.

Business Outlook

Based on the information available as of the date of this press release, Hexindai provides the following outlook, which reflects the Company's current and preliminary view and is subject to change:

Three Months Ending March 31, 2018

  • Total loans facilitated will be in the range of US$370.0 million to US$390.0 million.
  • Net revenue will be in the range of US$27.0 million to US$29.0 million.
  • Adjusted net income will be in the range of US$13.0 million to US$15.0 million.

Fiscal Year Ending March 31, 2018

  • Total loans facilitated will be in the range of US$1.22 billion to US$1.24 billion.
  • Net revenue will be in the range of US$107.0 million to US$109.0 million.
  • Adjusted net income will be in the range of US$62.0 million to US$64.0 million.

Use of Non-GAAP Financial Measures

We used adjusted net income and adjusted EPS, non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believed that the adjusted net income helped identify underlying trends in our business by excluding the impact of share-based compensation expenses, which were non-cash charges. We believed that the adjusted net income provided useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

The adjusted net income was not defined under U.S. GAAP and was not presented in accordance with U.S. GAAP. This non-GAAP financial measure had limitations as analytical tools, and when assessing our operating performance, cash flows or our liquidity, investors should not consider them in isolation, or as a substitute for net (loss)/income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP.

We mitigate these limitations by reconciling the non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating our performance.

For more information on this non-GAAP financial measure, please see the table captioned "Reconciliations of GAAP and non-GAAP results" set forth at the end of this press release.

Recent Developments

Expanded Education and Communication Channels with Investors

In October 2017, Hexindai expanded the education and communication channels it has with investors on its official website and mobile app. These channels will help educate investors on recent Company developments, financial tools, risk systems and government regulations while also allowing them to interact with Hexindai management through online Q&A sessions. Hexindai believes that educating its investors and increasing the transparency of its operations and platform will increase trust in the Company and support its healthy and sustainable growth.

Conference Call

The Company will host a conference call to discuss the earnings at 8:00 a.m. Eastern Time on Tuesday, February 13, 2018 (9:00 p.m. Beijing time on the same day).

Dial-in numbers for the live conference call are as follows:

International 

+65 6713-5091

U.S. Toll Free 

+1 866-519-4004

Mainland China

4006-208038

Hong Kong

+852 3018-6771

Passcode:

HX

A telephone replay of the call will be available after the conclusion of the conference call through 11:59 p.m. Hong Kong Time, February 21, 2018.

Dial-in numbers for the replay are as follows:

International Dial-in

+61 2-8199-0299

U.S. Toll Free  

+1 646-254-3697

Passcode:

2187757

A live and archived webcast of the conference call will be available on the Investor Relations section of Hexindai's website at http://ir.hexindai.com/.

About Hexindai Inc.

Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a fast-growing consumer lending marketplace based in Beijing, China facilitating loans to meet the increasing consumption demand of the emerging middle class in China. Hexindai provides borrowers with convenient and ready access to credit through its online marketplace. The Company offers borrowers a wide range of products designed based on customer segmentation data and tailored to the specific needs of the emerging middle class in China. Hexindai offers investors various types of investment products with appropriate risk levels and risk-adjusted returns. With its strong O2O capability combining online platform with extensive offline networks, and the advanced risk management system, further safeguarded by the Company's strategic cooperative relationships with a custodian bank and an insurance company, it gains high customer satisfaction and reliance, and realizes fast growth in China.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law. 

For more information, please visit ir.hexindai.com

For investor inquiries, please contact:

Hexindai

Wendy Xuan
Tel: +86 10 5370 9902 ext. 829
Email: ir@hexindai.com

Christensen

In China
Mr. Christian Arnell
Phone: +86-10- 5900-1548
E-mail: carnell@christensenir.com

In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com

 

 

HEXINDAI INC.

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)



December 31,



March 31,



2017



2017

 

ASSETS






CURRENT ASSETS:






    Cash

$

139,293,226


$

19,232,275

    Prepayments and other assets


4,490,142



4,139,354

    Amounts due from related parties


-



4,182,502

TOTAL CURRENT ASSETS


143,783,368



27,554,131

    Property, equipment and software at cost, net


620,148



427,938

    Deferred tax assets


438,951



400,062

TOTAL ASSETS

$

144,842,467


$

28,382,131







LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:






    Accrued expenses and other current liabilities

$

4,059,855


$

789,129

    Taxes payable


17,289,055



4,088,646

 TOTAL CURRENT LIABILITIES


21,348,910



4,877,775

 TOTAL LIABILITIES

$

21,348,910


$

4,877,775













SHAREHOLDERS' EQUITY:






   Ordinary shares, $0.0001 par value,
500,000,000 shares authorized, 47,958,550 and
42,921,600 shares issued and outstanding as of
December 31, 2017 and March 31, 2017,
respectively


4,796



4,292

    Additional paid-in capital


57,693,590



13,285,717

    Retained earnings


60,195,878



11,759,100

    Accumulated other comprehensive income
(loss)


959,274



(1,544,753)

TOTAL HEXINDAI'S SHAREHOLDERRS'
EQUITY


118,853,538



23,504,356

Non-controlling interest


4,640,019



-

TOTAL SHAREHOLDERS' EQUTIY


123,493,557



23,504,356







TOTAL LIABILITIES AND
SHAREHOLDERS'  EQUITY

$

144,842,467


$

28,382,131

 

 

HEXINDAI INC.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)













For Three Months Ended
December 31,



For Nine Months Ended
December 31,



2017


2016



2017


2016

NET REVENUE










Loan facilitation, post-origination and other service, net

$

43,651,672

$

6,472,383


$

80,156,605

$

15,562,404

Business and sales related taxes


(339,512)


(64,267)



(512,622)


(90,268)

NET REVENUE


43,312,160


6,408,116



79,643,983


15,472,136











OPERATING EXPENSES










    Sales and marketing


5,484,582


1,412,340



11,744,696


3,266,088

    Service and development


3,205,208


1,491,967



6,441,310


3,873,334

    General and administrative


2,998,092


867,570



4,842,642


1,985,919

              Total operating expenses


11,687,882


3,771,877



23,028,648


9,125,341

INCOME FROM OPERATIONS


31,624,278


2,636,239



56,615,335


6,346,795

OTHER INCOME (EXPENSE)










   Other income


254,672


24,522



513,795


180,094

   Other expense


(14,691)


(251)



(20,325)


(15,828)

              Total other income (expense), net


239,981


24,271



493,470


164,266

INCOME BEFORE INCOME TAXES


31,864,259


2,660,510



57,108,805


6,511,061

PROVISION FOR INCOME TAXES


4,958,434


1,067,582



8,643,375


2,169,594

NET INCOME


26,905,825


1,592,928



48,465,430


4,341,467

Less: net income attributable to non-controlling interest


30,906


-



28,652


-

NET INCOME ATTRIBUTABLE TO HEXINDAI


26,874,919


1,592,928



48,436,778


4,341,467











OTHER COMPREHENSIVE INCOME (LOSS)










    Foreign currency translation adjustment


1,559,958


(663,166)



2,608,189


(1,155,757)

COMPREHENSIVE INCOME


28,465,783


929,762



51,073,619


3,185,710

Less: comprehensive income attributable to non-
controlling interest


133,237


-



132,814


-

COMPREHENSIVE INCOME ATTRIBUTABLE TO
HEXINDAI

$

28,332,546

$

929,762


$

50,940,805

$

3,185,710





















Earnings per common share*-basic

$

0.58

$

0.04


$

1.10

$

0.10

Earnings per common share*-diluted

$

0.52

$

0.04


$

1.06

$

0.10

Weighted average number of shares outstanding*-basic


46,131,964


42,080,000



43,987,816


42,080,000

Weighted average number of shares outstanding*-diluted


51,534,829


42,080,000



45,788,771


42,080,000





















* The shares and per share data are presented on a retroactive basis to reflect the nominal share issuance.

 

 

HEXINDAI INC.

Reconciliations of GAAP And Non-GAAP Results

(UNAUDITED)













For Three Months Ended
December 31,



For Nine Months Ended
December 31,



2017


2016



2017


2016

Net income attributable to Hexindai Inc.'s shareholder

$

26,874,919

$

1,592,928


$

48,436,778

$

4,341,467

Add: Share-based compensation expenses


723,831


-



723,831


-

Non-GAAP net income attributable to Hexindai Inc.'s
shareholder

$

27,598,750

$

1,592,928


$

49,160,609

$

4,341,467

Weighted average number of shares outstanding*-basic


46,131,964


42,080,000



43,987,816


42,080,000

Weighted average number of shares outstanding*-diluted


51,534,829


42,080,000



45,788,771


42,080,000











Earnings per common share*-basic

$

0.58

$

0.04


$

1.10

$

0.10

Adjustment related to share based compensation
expenses*-basic

$

0.02

$

0.00


$

0.02

$

0.00

Non-GAAP earnings per common share*-basic

$

0.60

$

0.04


$

1.12

$

0.10











Earnings per common share*-diluted

$

0.52

$

0.04


$

1.06

$

0.10

Adjustment related to share based compensation
expenses*-diluted

$

0.02

$

0.00


$

0.01

$

0.00

Non-GAAP earnings per common share*-diluted

$

0.54

$

0.04


$

1.07

$

0.10


* The shares and per share data are presented on a retroactive basis to reflect the nominal share issuance.

 

 

The following table presents our summary operating data for three months and nine months ended December 31, 2016 and 2017.


For Three Months Ended December 31,


For Nine Months Ended December 31,





2016


2017


2016


2017


Growth Rates(4)


(RMB)

(US$)


(RMB)

(US$)


(RMB)

(US$)


(RMB)

(US$)


Three Months ended
December 31, 2017
compared to
December 31, 2016

Nine Months ended
September 31, 2017
compared to
December 31, 2016

Loan volume facilitated

(in thousands, except percentages and numbers)


(in thousands, except percentages and numbers)




Credit loan principal

684,063

100,133


2,570,798

388,745


1,532,231

229,616


5,610,349

835,471


275.8%

266.2%

Secured loan principal

211,350

30,937


-

-


995,624

149,201


63,220

9,414


-100.0%

-93.7%

Total

895,413

131,070


2,570,798

388,745


2,527,855

378,817


5,673,569

844,885


187.1%

124.4%

Number of transactions facilitated(1)















Credit loan transactions

8,403

8,403


32,511

32,511


19,724

19,724


67,965

67,965




Secured loan transactions

206

206


-

-


1,216

1,216


49

49




Total

8,609

8,609


32,511

32,511


20,940

20,940


68,014

68,014




Average individual transaction amount















Credit loan transactions

81

12


79

12


78

12


83

12




Secured loan transactions

1,026

150


-

-


819

123


1,290

192




Overall average

104

15


79

12


121

18


83

12




Gross billing amount (net of VAT)















Credit loan

50,341

7,369


310,244

46,914


113,189

16,962


582,109

86,686


516.3%

414.3%

Secured loan

2,799

410


-

-


12,836

1,924


1,458

217


-100.0%

-88.6%

Total

53,140

7,779


310,244

46,914


126,025

18,886


583,567

86,903


483.8%

363.1%

Gross billing ratio (net of VAT)















Credit loan

7.4%

7.4%


12.1%

12.1%


7.4%

7.4%


10.4%

10.4%




Secured loan

1.3%

1.3%


-

-


1.3%

1.3%


2.3%

2.3%




Total

5.9%

5.9%


12.1%

12.1%


5.0%

5.0%


10.3%

10.3%




Number of borrowers















Credit loan transactions

8,403

8,403


32,417

32,417


19,724

19,724


67,815

67,815




Secured loan transactions

10

10


-

-


363

363


35

35




Total

8,413

8,413


32,417

32,417


20,087

20,087


67,850

67,850


285.3%

237.8%

Number of investors















Credit loan transactions (2)

6,893

6,893


45,452

45,452


8,570

8,570


80,836

80,836




Secured loan transactions (3)

4,935

4,935


-

-


14,374

14,374


91

91




Credit and secured loan transactions

13,108

13,108


12,394

12,394


21,602

21,602


19,918

19,918




Total

24,936

24,936


57,846

57,846


44,546

44,546


100,845

100,845


132.0%

126.4%


(1) Number of loan transactions facilitated is defined as the total number of loans facilitated on our marketplace during the relevant period.

(2) Refers to investors who exclusively invested in credit loan transactions during the relevant period.

(3) Refers to investors who exclusively invested in secured loan transactions during the relevant period.

(4) Growth rates are calculated by RMB, and exclude the impact from exchange rate in different reporting period to reflect a real growth rate.

 

 

The following table sets forth our revenue breakdown for the periods indicated:



For the Three Months Ended

 December 31,



For the Nine Months Ended
December 31,



2017


2016



2017


2016

Revenue (1)










Loan facilitation service

$

46,754,718

$

7,380,145


$

87,054,743

$

16,902,500

Loan management service


111,792


526,560



404,946


2,428,268

Post-origination service


1,316,351


418,817



2,394,179


1,060,319

Others


11,592


25,427



21,917


50,466

Total revenue


48,194,453


8,350,949



89,875,785


20,441,553

Business tax


339,512


64,267



512,622


90,268

Cash incentives


4,542,781


252,394



9,719,180


845,319

Risk reserve liability charge


-


1,626,172



-


4,033,830

Net Revenue

$

43,312,160

$

6,408,116


$

79,643,983

$

15,472,136


(1) Represents amounts net of VAT

 

Cision View original content:http://www.prnewswire.com/news-releases/hexindai-reports-third-quarter-of-fiscal-year-2018-financial-results-300597775.html

Source: Hexindai Inc.

Related stocks: NASDAQ-NMS:HX

Related Links:

Featured Video

Related Keywords:

Banking/Financial Service

Advanced Search
Search
  
  1. Products & Services
  2. News Releases
  3. Knowledge Center
  4. Journalists & Media
  5. Multimedia Theater
  6. Contact Us