Mar. 26 at 1:07 PM
$XYF | Atrocious. 📉
Just finished the Q4 call and it’s a total disaster compared to peers. While
$LX,
$FINV, and
$YRD all flagged a "monthly turnaround" and risk stabilization starting in Dec,
$XYF is still in a freefall, continued press for the whole Q4.
91-180 day delinquencies spiked to 6.31% (was 2.48% last year). Management calls it "rising repayment stress," but it looks like a lack of control.
They basically admitted the new Notice 9 bank whitelists create "additional uncertainty" for their funding. Translation: Banks are looking for the exit when you have so high DQ rates.
Unlike
$FINV or
$LX, there was NO mention of Dec improvement. In fact, they warned of "operating losses in future periods" and a 30% revenue drop for next Q.
Bottom Line: While the rest of China Fintech is talking about a rebound, XYF is just trying to keep the lights on. Massive outlier in the worst way possible.
