FINV - FinVolution issues cautious 2022 volume guidance amid COVID surge

March, 14 2022 07:22 PM PPDAI Group Inc. American Depositary Shares each representing five Class A

FinVolution Group (NYSE:FINV) stock is falling 2.4% in after-hours trading after the Chinese fintech gives a cautious outlook on transaction volume for 2022 due to the recent resurgence of COVID-19 in China and some other regions around the world. The company expects full-year transaction volume of RMB 175B-RMB 180B (US$27.5B-US$28.3B), a Y/Y increase of 27.4%-31.0% from RMB 137.4B in 2021, a record for the company. For Q4 2021, transaction volume of RMB 39.0B rose from RMB 38.1B in Q3 and RMB 21.5B in Q4 2020. Q4 non-GAAP profit per ADS of RMB 2.33 ($0.37) rose from RMB 2.21 in the previous quarter and RMB 1.77 in Q4 2020. Q4 net revenue of RMB 2.45B ($384.1M) slipped from RMB 2.53B in Q3 and increased from RMB 1.85B in the year-ago quarter. Conference call at 8:30 PM ET. Chinese tech stocks have been pressured in the past week as the U.S. Securities Commission

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FinVolution issues cautious 2022 volume guidance amid COVID surge

Company Name:	PPDAI Group Inc. American Depositary Shares each representing five Class A
Stock Symbol:	FINV
Market:	NYSE
Website:	ir.finvgroup.com

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