9F Inc. (NASDAQ:JFU) Q3 2019 Earnings Conference Call - Preliminary Transcript
Dec 05, 2019 • 08:00 am ET
Ladies and gentlemen, thank you for standing by and welcome to the 9F Incorporated Third Quarter 2018 Earnings Conference Call. (Operator Instructions) And please note this conference is being recorded today, December 5, of 2019. I would now like to hand the conference over to your first speaker today, Cecilia Ma, Head of Investor Relations. Please go ahead Cecilia.
Thank you, operator. Hello everyone thank you for joining us today for 9F Third Quarter 2019 Earnings Conference Call. The Company's results were released earlier today and available on the company's IR website. On the call today from 9F are Mr Lei Liu, Executive President and Chief Risk Officer, Mr Yanjun Lin, Chief Financial Officer, Mr Liu will review business operations and company highlights followed by Mr Lin, who will discuss financials.
Before we begin, I would like to remind you that this call may contain forward-looking statements made under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 such statements are based on management's current expectations and current market regulatory and operating conditions and relate to events that involve known, unknown risks, uncertainties and other factors, all of which
Difficult to predict and many of which are beyond the Company's control which may cause the company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Full information regarding these and other risks, uncertainties and factors is included in the company's filings with the US Securities and Exchange Commission. The company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise except as required under law I will now pass the call over to Mr Liu, Mr Liu, please.
Okay. Hello, everyone, and thank you for joining our third quarter earnings call today. Regulatory uncertainty continues to handle over the online lending industry in China consolidation of the industry is under way as platform shutdown this rapidly changing landscape is creating opportunities for trusted and best-in-class platform such as 9F (inaudible) mentoring the speaker compliance to be current regulatory standards, and our focus on the long term, (inaudible) growth, I'm pleased with our solid operational and the financial results this quarter despite the challenging environment we posted a record high low origination volume during the quarter, which surged over 250% year-over-year.
Moreover, registered users have now reached 95.7 million as of the end of the September loans funded by institutional partners (ph) jump to significantly , accounting for 78.6% our lower origination volume, the early in the quarter compared with 50% in the last quarter. The trials, with the growing number of institutional founding partners helping our platform and its underlying assets is like to be our credit demand reach has now expanded to over RMB90 billion as of September 30 compared to RMB 70 (ph) billion as of (ph) June 30 2019. As I mentioned in the last quarter we adopt a platform approach through our improvement strategy to grow our