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MARKETS / NYSE / XYF
NYSE · FINANCE SERVICES · MID CAP

X Financial XYF

10 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 7.6B
▲ 30.1% YoY
CNY 1.5B
▼ 4.9% YoY
CNY 1.4B
▼ 4.2% YoY
In brief

What this company does

It generates revenue primarily from loan facilitation service fees for matching institutional funding partners with borrowers, post-origination service fees over the lifetime of loans, financing income comprising interest from its microcredit business and financing fees on loans facilitated through Consolidated Trusts and Partnerships, and guarantee income from its financing guarantee business. From the commencement of its loan facilitation business through December 31, 2025, it facilitated loans to a cumulative total of 20,174,424 active borrowers. Annual active borrowers grew from 4,495,997 in 2023 to 5,231,887 in 2024 and 6,688,186 in 2025. Its subsidiary Tianjin Yuexin commenced financing guarantee operations in 2023. In 2023, 2024 and 2025, total net revenue was RMB4,814.9 million, RMB5,871.8 million and RMB7,639.4 million (US$1,092.4 million), respectively.

Written from the business description in X Financial's annual report to the U.S. Securities and Exchange Commission, filed 30 April 2026. Every sentence was checked against that document before publication.

Growth
CNY 7.6B
Revenue, FY2025 · full 10-year series below
Revenue CNY B Net income CNY B
FY2025 · Revenue 7.6 · Net income 1.5
4.0B-0.5B-1.0B2016201720182019202020212022202320242025
Compound annual growth
+28.9%
+28.4%
+21.7%
+32.6%
+81.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +28.4% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
19 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 21.3% · Net 19.2%
10%20%30%-20%-40%-60%2016201720182019202020212022202320242025
ROE
FY2025 · ROE 19.8%
10%20%30%-10%-20%-30%2016201720182019202020212022202320242025

Each CNY of equity produced 20 cents of profit this year.

Cash & shareholders
CNY 869.7M
returned in FY2025 · dividends + net buybacks
Free cash flow CNY B
FY2025 · FCF 1.4
0.80B-0.25B-0.50B2016201720182019202020212022202320242025
Net buybacks CNY M Dividends CNY M
FY2025 · Dividends 154.8 · Net buybacks 714.9
400M800MDividendsNet buybacks201920212022202320242025

CNY 154.8M in dividends and CNY 714.9M in buybacks — 59% of the year's profit went back to shareholders.

Total assetsCNY 14.7B
EquityCNY 7.8B
CashCNY 987.6M
Gross debtCNY 409.5M
Net debtCNY -578.1M
DepositsCNY 12.0M

The company holds more cash than debt.

The 10-year record
10 fiscal years
Every figure from documents filed with the SEC · CNY
row low → row highnegative
Metric 2025202420232022202120202019201820172016
Revenue CNY B7.65.94.83.63.62.23.13.51.80.2
Operating income CNY B1.61.91.51.21.3−1.40.81.30.5−0.1
EBITDA CNY B1.61.91.51.21.3−1.40.81.30.5−0.1
Income tax CNY B0.30.40.30.40.4−0.3−0.1−0.20.1−0.0
Net income CNY B1.51.51.20.80.8−1.30.80.90.3−0.1
Free cash flow CNY B1.41.51.40.60.4−0.70.6−0.0−0.60.1
EPS, diluted CNY 5.875.254.082.522.45−4.072.422.911.22−0.50
Dividend / sh $0.090.030.06·······
Payout %118500·13···
ROE %19.824.122.418.623.4−35.219.633.519.3·
Shares out B0.230.250.290.290.330.320.320.300.28·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 4 failures in 29 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 37 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente4 failures
ActivityFinance Services
Listed onNYSE
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2016

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