Shares of Jiayin Group Inc. (NASDAQ: JFIN) surged 22.69% to $14.85 on the release of the company’s fourth-quarter and full-year financial results. The exceptional stock performance is a reflection of its sound financial standing and strategic approach in a difficult market climate.
Outstanding Financial Results for Q4 and Fiscal Year 2024
Jiayin recorded net sales of RMB5,801.0 million ($792.4 million) for the fiscal year that ended on December 31, 2024, which is a 6.1% increase from the previous year. The net income for the quarter was RMB275.5 million ($37.7 million), while the net revenue for the fourth quarter alone was RMB1,404.5 million ($192.4 million).
With a full-year net income of RMB1,056.5 million ($144.7 million), JFIN demonstrated its sustained profitability and fortitude in the face of market difficulties.
Growth Driven by Innovation and AI Integration
Jiayin focused on innovation to continue growth in 2024, taking advantage of both possibilities and challenges. The widespread application of artificial intelligence (AI) throughout its operations was a crucial tactic. JFIN strengthened risk management procedures and increased efficiency by streamlining services and client groups.
With this strategy, the business was able to keep adding value for stakeholders while increasing the amount of loans it facilitated by 14.4% annually to RMB100.8 billion.
Returns to Shareholders and Prospects
By announcing a cash dividend of $0.5 per American depositary share, or around $26.6 million, Jiayin further showed its dedication to its stockholders. For FY2023, this dividend amounts to 15% of its net profits after taxes. As market conditions improve, JFIN expects more dividend returns.
Jiayin is also committed to expanding internationally and broadening its funding sources, while maintaining a focus on the application of AI and responsible risk management. JFIN is ideally positioned for long-term, sustainable growth because to its strong financial results and proactive approach.