Dec. 3 at 9:32 PM
i went through some EC this quarter in the china fintech space to understand the impact of the new regulations and who should be hit disproportionally higher.
$LU
Average APR 19.5% in 24Q3
Take rate 9.7%
$QFIN
Average APR 20.9% in 25Q3 compared to 21.4% in 25Q2
Take rate 3-4%
"Looking forward, we may see further pricing decline as the new regulatory environment requirement being fully implemented across the industry, although the pace of the decline should be modest."
$FINV
Average APR 23% in 25Q3.
Take rate 3-4%
"the new regulation may impact parts of our business, such as the traffic referral business. Some customers will no longer be served. "
$XYF
Not disclosing APR nor take rate but presumably high ~24%.
" new regulatory regime will have a material negative impact on everything on volume, on margin, on profitability, and take rate is part of a effect of profitability. So you can assume the take rate will have a material negative impact".
