FinVolution Group (NYSE: FINV) reported third‑quarter 2025 results on November 19, 2025, showing net revenue of RMB 3.49 billion, a 6.4% year‑over‑year increase, and net income of RMB 640.7 million, up 2.7% from the same period in 2024. The company’s earnings per share beat consensus by RMB 0.04, driven largely by disciplined cost management and a favorable mix shift toward higher‑margin international transactions.
International activity was the primary engine of growth. Transaction volume in overseas markets rose 33.3% to RMB 3.6 billion, and international revenue now accounts for 25.0% of total net revenue—up from 19.0% a year earlier. The jump reflects strong demand in Southeast Asian markets, particularly Indonesia and the Philippines, where FinVolution’s digital‑payment platform has expanded its merchant base and transaction fees have remained stable amid competitive pricing pressures.
In China, transaction volume fell 3.8% year‑over‑year, a decline attributed to tighter regulatory scrutiny on cross‑border payments and a shift in consumer behavior toward cash‑less alternatives. Nevertheless, the company’s outstanding loan balance grew 12.5%, offsetting some of the revenue drag and supporting future growth in the domestic credit portfolio. CEO Tiezheng Li noted that “the China business remains resilient amid regulatory changes, and the increase in loan balances signals continued confidence from our retail and small‑business customers.”
Management revised its full‑year 2025 revenue outlook to a range of RMB 13.1 billion to RMB 13.7 billion, a downward adjustment from the prior 10%‑15% growth projection. CFO Jiayuan Xu explained that the cut reflects “new regulatory requirements that limit cross‑border transaction volumes and increase compliance costs.” The guidance signals caution but also a belief that the company’s diversified international presence will cushion the impact of domestic headwinds.
FinVolution continues to invest in AI‑driven risk management. While the 98.8% deepfake detection accuracy figure was reported for Q2 2025, the company reiterated its commitment to maintaining high detection standards and announced a 60% reduction in advertising costs, underscoring operational efficiency gains. The firm also completed share repurchases totaling US$66.5 million in the first nine months of 2025 and maintained a cash balance of RMB 7.0 billion, providing liquidity to support strategic initiatives.
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