Yirendai Ltd. (NYSE:YRD) Q1 2019 Earnings Conference Call - Final Transcript

Jul 10, 2019 • 08:00 pm ET


Yirendai Ltd. (NYSE:YRD) Q1 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to Yirendai First Quarter 2019 Earnings Conference Call. At this time all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. (Operator Instructions) I must advise you that this conference is being recorded today 11th of July, 2019.

I would now like to hand the conference over to your first speaker today, Ms. Lydia Yu. Thank you, please go ahead.

Lydia Yu

Thank you, and welcome to Yirendai's first quarter 2019 earnings conference call. Today's call features a presentation by the Founder, Chairman and CEO of CreditEase, and CEO of Yirendai Mr. Ning Tang, our CFO, Mr. Dennis Cong, our Board of Director and CRO, Mr. Huan Chen. Ms. Wei Wang our CEO of Yiren Credit, Ms. Xiao Shang our CEO of Yiren Wealth and Ms. Jia Liu, our Co-CFO of Yirendai will join the presenters in the Q&A session.

Before beginning, we will like to remind you that the discussions during this call contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Such statements are subject to risks uncertainties and factors that can cause actual results to differ materially from those contained in any such statements. Further information regarding potential risks, uncertainties or factors is included in Yirendai's filing with the US Securities and Exchange Commission. Yirendai does not undertake any obligation to update any forward-looking statement except as required under applicable law.

During this call we will be referring to several non-GAAP financial measures or supplemental measures to review and assess our operating performance. These non-GAAP financial measures are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP. For information about these non-GAAP measures and reconciliation to GAAP measures, please refer to our earnings press release.

I will now pass it on to our CEO, Ning for opening remarks.

Ning Tang

Thank you all for attending our first earnings conference call post the Yirendai and the CreditEase business realignment. This transaction is a significant milestone for us as it sets the stage for our next strategic business transformation. The business Yirendai assumed from CreditEase includes online wealth management, targeting the mass affluent, unsecured and secured consumer lending, and small business lending, which work nicely with Yirendai's existing credit and wealth management operation, and will provide a strong foundation for our future growth.

Post the realignment, the company will have two main business lines, consumer credit and wealth management. The new consumer credit business, Yiren Credit is now one of the largest of credit type platforms in China that provides a full suite of online and offline multi-channel lending products and services. With our unique and high quality fixed income assets, we have attracted and retained a large number of affluent investors on our online wealth management platform, and provide a strong investor base for us to build our Yiren Wealth business, one-stop