Q2 net profit declined 43% yr/yr on reduced transaction volumes and higher credit losses
Company repurchased $27.4 mln in shares during Q2, maintains full-year revenue outlook
Result Drivers
China transaction volume drop - Revenue fell mainly due to lower loan facilitation and guarantee income, driven by decreased transaction volume in the Chinese Mainland market
Overseas growth - Overseas segment revenue rose 18% yr/yr, supported by a doubling of unique borrowers and higher transaction volume in international markets
Higher credit losses - Increased credit losses for quality assurance commitments, mainly from overseas markets, weighed on profits
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
