HONG KONG, Mar 26, 2025 - (ACN Newswire) - VCREDIT Holdings Limited ("VCREDIT" or the "Group"; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its annual results for the year ended 31 December 2024.

In 2024, despite a complex and severe external environment, ongoing international trade frictions and multiple challenges, China’s economy remained relatively stable. Policy measures were implemented to drive a steady economic recovery. Although consumer demand is still in recovery, there has been an increase in consumer willingness, and the consumer market is showing signs of gradual improvement. The Group actively adjusted its operating strategies, strengthened risk control, improved operating efficiency, and continued to strengthen its business framework. For the full year 2024, loan origination volume in the Chinese mainland reached RMB 55.75 billion. 

In 2024, the Group continued to optimize its risk models, innovate products and services, and improve technological standards, maintaining its focus on higher-quality borrowers. While pursuing financial technology innovation and risk control tightening, the Group also emphasized protecting the consumer rights and personal data security of its borrowers, proactively addressing regulatory developments in the industry. Total Income was RMB 3.93 billion, with Adjusted Net Profit recorded at RMB 480 million approximately. The Board has recommended the payment of a final dividend of HK 20 cents per share.

Driving innovation through technology while upgrading operations through digital smart platform

The Group further deepened the application of artificial intelligence (AI) technology in risk management, covering core processes including customer segmentation, modeling, underwriting and collections, significantly improving the precision and efficiency of risk identification. At the same time, by continuously optimizing multi-source scorecards and strategy models, the Group improved the robustness of risk management. In addition, the continuous optimization of approval processes and the refinement of risk control strategies also helped the Group steadily increase the approval volume of new customers, driving significant growth in the user base and injecting new momentum into business expansion.

In the first half of 2024, the Group has officially launched the AI large model ‘Sunbird AI Hub’, and deployed it across several aspects of business. With the help of AI technology, the Group completed a further iterative upgrade of the core risk control system Hummingbird to maintain the performance of our rules engine. In relation to data security and user privacy protection, the Group introduced AI large models to analyze APP privacy policy texts, ensuring compliance of data collection.

Actively expanding high-quality customer acquisition channels and continuously optimizing user experience across all aspects

The Group is committed to expanding high-quality customer acquisition channels. In the second half of 2024, the Group entered into a cooperation agreement with a leading domestic fintech platform. At the same period, the Group reconstructed the operational map for new customers, designing differentiated interaction methods, contact means, and strategies for new customers. Through these measures, the Group successfully achieved closed-loop management of customer acquisition and new customer operations, further improving the operational efficiency of new customers. As of 31 December 2024, the Group's cumulative registered users reached 158 million, a year-on-year increase of 9.7% compared to 2023.

Apart from acquiring new high-quality customers, the Group continued to optimize its operational strategy for existing users, upgrading services at various points in the business process, shortening loan disbursement times, and reducing user operation paths, successfully optimizing the user experience. In 2024, repeat borrowers accounted for 85.9% of the total loan volume.

Empowering a collaborative financial ecosystem and jointly strengthening consumer rights protection

As of the end of December 2024, the Group has established long-term relationships with 110 external funding partners, including national joint-stock commercial banks, consumer finance companies and trust funds, etc., thus growing a rich and diversified funding pool. Through the construction of the VCREDIT fund management platform system, the Group can more effectively manage its capital needs, strengthen the whole life-cycle management of funding partner co-operation, and steadily reduce the cost of funds.

VCREDIT has extended its technological solutions to the funding partners, expanding the digital alliance through its in-house developed ‘Kunlun Mirror Intelligent Risk Control System’ which leverages standardized risk control models based on credit data to conduct intelligent risk identification. This system also enables joint modeling to meet the personalized risk control needs of the funding partners, providing them with comprehensive credit risk management solutions. Furthermore, the Group has deepened the cooperation with funding partners in loan monitoring and consumer rights protection.

Outlook

In order to contribute to further growth in consumer finance business and fulfil the financial needs of high-quality customers, the Group will continue to hone business strategies and upscale technology. In addition to growing the existing consumer finance business in China, the Group will also look to expand and diversify its business strategies by investing or collaborating in or acquiring similar, related, or complementary businesses and industries in other jurisdictions including Hong Kong, South-East Asia and Europe. The Group will continue to review potential investment opportunities and business prospects on a constant basis and make suitable investments and acquisitions as opportunities occur.

In addition, the Group intends to continue to execute these strategies to maintain its growth in the industry, including streamline and extend its credit solutions to better serve its customers to improve brand recognition and loyalty and creditworthiness of its customer base; enhance risk management capability through deployment of evolving technology and AI; strengthen long-term collaborations with licensed financial institutional partners and other business partners; ensure its business is conducted within applicable regulatory parameters to achieve regulation-centric sustainability; review and assess potential business prospects and invest or collaborate in or acquire similar, related or complementary businesses and industries in China and other jurisdictions; cultivate a dynamic enterprise value and culture and grow its in-house talents.

About VCREDIT Holdings Limited

VCREDIT Holdings Limited (VCREDIT) facilitates loans between financial institutions and individual customers -- connecting borrowers (consumers, sole proprietors, and SME owners) with financial institutions. We identify customers in need of financing by collaborating with diverse customer acquisition channels such as DSP advertising platforms. Afterwards we match financial institutional funds to creditworthy borrowers in real time through our proprietary digital technology and AI models. We take measures to articulate key information such as loan interest rates, repayment terms to borrowers. We also take care of client repayment management, thereby maintaining trust between borrowers and financial institutions.

Website: https://en.vcredit.com/en-us

For enquiries, please contact Burson:
Wing Chan / Vivien Li
Tel: (852) 9518 4326 / (852) 6464 8269
Email: vcredit@hkstrategies.com

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