Apr. 24 at 5:46 PM
$LU looking at the 24Q4 and 25Q1 operational performance there's actually quite some positives...
-In 24Q4 New loans volume reached 69Bn RMB in a quarter - a level not seen since 2022 driven by a huge spike from the Puhui business. Moreover, LU managed to beat its FY24 guidance: achieving 213Bn new loans (vs. mid target 205bn) and Total avg loan outstanding of 234bn (vs. mid target 210bn).
Loan health metrics also improved back to 2022 levels.
In contrast
$QFIN seemed to struggle in loan growth in the same quarter. A sign that
$LU might be denting their market.
-25Q1 again higher volumes (albeit not as high as 24Q4) and continued good health metrics.
Looking at the above seems we've finally crossed to the right side of the "U" recovery.