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X Financial Announces Execution of Five Key Financial Strategies, Enhancing Integration of Finance and Technology in 2024

SHENZHEN, China, March 20, 2025 /PRNewswire/ -- X Financial, a China-based pioneer in the fintech sector, today released its unaudited financial results for the fourth quarter and the full year ending December 31, 2024.

According to the released financials, the company's outstanding loan balance reached 52.327 billion yuan as of year-end. Total net revenue for the year was reported at 5.8718 billion yuan, with a net profit of 1.5399 billion yuan for fiscal 2024.

Mr Kent Li, President of X Financial, said, "We are very pleased to conclude the year with outstanding operational and financial results for the fourth quarter. Our relentless efforts to enhance asset quality, coupled with a favorable macroeconomic environment, drove significant revenue and profit growth. As we move into 2025, we remain optimistic about our business prospects and plans to capitalize on the growth opportunities in this favorable market environment to accelerate growth and enhance shareholder returns. Looking ahead, we will continue to leverage artificial intelligence to further strengthen our technological capabilities, optimize operational efficiencies, and enhance service quality."

Advancing Five Key Financial Strategies to Enhance Service to the Real Economy

In 2024, the Central Financial Work Conference highlighted the crucial role of finance as the lifeblood of the Chinese economy and advocated for the effective implementation of five key financial initiatives. Following the introduction of policies designed to stabilize the economy and stimulate consumer spending, market dynamics have improved significantly. X Financial remains committed to its core mission of driving financial innovation and maintaining a customer-first approach. The company continues to deliver superior financial services to the real economy while effectively implementing the strategic initiatives through its 'Small Win Practice', achieving commendable market performance.

In 2024, X Financial introduced the Small Business Assistance Program to further support self-employed individuals, small and micro-enterprise owners, and rural entrepreneurs. Data shows that from January 2020 to the end of December 2024, X Financial has delivered over 8 million services to small and micro-entrepreneurs and self-employed individuals across 31 provinces, autonomous regions, and municipalities nationwide.