Business
VCREDIT 2024 Annual Results: Steady Development Driven by Digital Intelligence
VCREDIT 2024 Annual Results: Steady Development Driven by Digital
About this update from Vcredit Holdings Limited
[{"type":"text","content":"HONG KONG, Mar 26, 2025 - (JCN Newswire) - - VCREDIT Holdings Limited (\"VCREDIT\" or the \"Group\"; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its annual results for the year ended 31 December 2024.In 2024, despite a complex and severe external environment, ongoing international trade frictions and multiple challenges, China's economy remained relatively stable. Policy measures were implemented to drive a steady economic recovery. Although consumer demand is still in recovery, there has been an increase in consumer willingness, and the consumer market is showing signs of gradual improvement. The Group actively adjusted its operating strategies, strengthened risk control, improved operating efficiency, and continued to strengthen its business framework. For the full year 2024, loan origination volume in the Chinese mainland reached RMB 55.75 billion. In 2024, the Group continued to optimize its risk models, innovate products and services, and improve technological standards, maintaining its focus on higher-quality borrowers. While pursuing financial technology innovation and risk control tightening, the Group also emphasized protecting the consumer rights and personal data security of its borrowers, proactively addressing regulatory developments in the industry. Total Income was RMB 3.93 billion, with Adjusted Net Profit recorded at RMB 480 million approximately. The Board has recommended the payment of a final dividend of HK 20 cents per share.Driving innovation through technology while upgrading operations through digital smart platformThe Group further deepened the application of artificial intelligence (AI) technology in risk management, covering core processes including customer segmentation, modeling, underwriting and collections, significantly improving the precision and efficiency of risk identification. At the same time, by continuously optimizing multi-source scorecards and strategy models, the Group improved the robustness of risk management. In addition, the continuous optimization of approval processes and the refinement of risk control strategies also helped the Group steadily increase the approval volume of new customers, driving significant growth in the user base and injecting new momentum into business expansion.In the first half of 2024, the Group has offic...