Investor Presentaiton
Consolidated statements of comprehensive income
Million
FY2019
FY2020
1Q2020
102021
102021
RMB
RMB
RMB
RMB
USD
Loan facilitation service fees
3,311
1,909
375
762
116
Post-facilitation service fees
1,200
673
183
226
35
Net interest income
1,107
1,113
315
280
43
Other Revenue
345
482
84
185
28
Changes in expected discretionary payment to IRF investors
Guarantee income(1)
3,386
1,150
659
101
Net revenue
5,963
7,563
2,106
2,113
322
Origination and servicing expenses
(1,208)
(1,326)
(249)
(413)
(63)
Sales and marketing expenses
(720)
(483)
(91)
(334)
(51)
General and administrative expenses
(436)
(461)
(96)
(113)
(17)
Research and development expenses
Provision for loans receivable
Provision for accounts receivable
Credit losses for quality assurance commitment(¹)
Total operating expenses
Operating profit
(391)
(370)
(88)
(94)
(14)
(300)
(463)
(296)
(19)
(3)
(262)
(145)
(33)
(40)
(6)
(2,008)
(797)
(445)
(68)
(3,316)
(5,256)
(1,651)
(1,457)
(222)
2,646
2,308
456
656
101
Gain from quality assurance fund
98
Realized gain (loss) from financial guarantee derivatives
31
Fair value change of financial guarantee derivatives
Other income, net
Profit before income tax expenses
Income tax expenses
Net profit
(56)
136
116
54
43
7
2,856
2,424
510
698
107
(482)
2,375
(455)
(89)
(106)
(16)
1,969
420
593
90
(1)Before the adoption of ASC 326 on January 1, 2020, gain or losses related to quality assurance commitments were recorded in one combined financial statement line item within other income.
After the adoption of ASC 326, the guarantee income (i.e. the release of ASC 460 component of guarantee liability) was recorded as a separate financial statement line item within revenue and the credit
losses for quality assurance commitments (i.e. the recognition of CECL losses) was recorded within expenses.
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