FinVolution Group (NYSE:FINV) Q2 2020 Earnings Conference Call - Final Transcript

Aug 25, 2020 • 08:00 am ET

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FinVolution Group (NYSE:FINV) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Hello, ladies and gentlemen, thank you for participating in Second Quarter 2020 Earnings Conference Call for FinVolution Group. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded.

I would now like to turn the conference over to your host, Jimmy Tan, Head of Investor Relations for the company. Jimmy, please go ahead.

Executive
Jimmy Tan

Hello, everyone, and welcome to our second quarter 2020 earnings conference call. The company results were issued via Newswire services earlier today and are posted online. You can download the earnings release and sign up for the company's e-mail alerts by visiting the IR section of our website at ir.finvgroup.com.

Mr. Feng Zhang, our Co-Executive Officer; and Mr. Simon Ho, our Chief Financial Officer, will start the call with their prepared remarks and conclude with a Q&A session.

During this call, we will be referring to certain non-GAAP financial 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 U.S. GAAP. For information about these non-GAAP measures and reconciliation to GAAP measures, please refer to our earnings press release.

Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties are included in the company's filings with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable law.

Finally, we post a slide presentation on our IR website providing details of our results for the quarter.

I will now turn the call over to our CEO, Mr. Feng Zhang. Please go ahead, sir.

Executive
Feng Zhang

Hello, everyone, and thank you for joining our second quarter 2020 earnings conference call today.

We are pleased to report healthy and solid results for the second quarter, thanks to the timely measures we took in response to the pandemic outbreak, the subsequent gradual economic recovery in China since the beginning of the second quarter, and our unwavering focus on comprehensive credit risk controls.

Given the lingering uncertainties due to COVID-19, we remained agile in our operations with a prudent risk management approach in the second quarter. Encouragingly, numerous operating metrics showed improving trends in the second quarter, in particular credit risk across our platform has further improved, thanks to our continued investment in risk management technology, our prudent approach to risk management and our strategy to serve better quality borrowers.

In terms of our most recent delinquency trends, our Day One delinquency rate in recent weeks have further improved to about 7.5%. If you recall, on our previous earnings call, our Day One delinquency rate