Original title: 360 Digital’s second quarter net profit was 1.548 billion yuan, an increase of 76.6% year-on-year
[TechWeb]On August 20th, 360 Data Science released its unaudited financial report for the second quarter of fiscal 2021 as of June 30, 2021. The data showed that 360 Data Science’s total net revenue in the second quarter was 4.0016 billion yuan. (Approximately US$619.8 million), a year-on-year increase of 19.8%; net profit was 1.5479 billion yuan (approximately US$239.7 million), a year-on-year increase of 76.6%.
After the US stock market, 360 Digital’s share price rose 6.21% to $17.95.
Specifically, in the second quarter, 360 Data Science’s net revenue from credit-driven services was 2.4047 billion yuan, and revenue from loan matching services and service fees (heavy capital) was 540.7 million yuan, which came from the release of guaranteed liabilities. Revenue was 1.35 billion yuan, and other service fee revenue was 23.6 million yuan.
As of June 30, 2021, 360 Data Science has 34.7 million users with approved credit lines, a year-on-year increase of 25.3%; the total number of successful borrowers (including repeat borrowers) was 22.3 million , An increase of 25.3% year-on-year.
In the second quarter of 2021, financial institution partners issued a total of 27,714,920 loans, with a total amount of 88.452 billion yuan, a year-on-year increase of 50.2%; as of June 30, 2021, the total outstanding loan balance retained by financial institution partners was 117.559 billion RMB 58.187 billion of the outstanding loan balance is under the capital-light model and other technological solutions.
In the second quarter of 2021, the weighted average contract period of loans initiated by financial institutions on the 360 Data Science platform is approximately 10.66 months. As of June 30, 2021, the delinquency rate of loans issued by financial institutions on the 360 number platform for more than 90 days was 1.19%.
360 Digital predicts that the total loan matching and disbursement for the full year of fiscal 2021 will be between 340 billion yuan and 350 billion yuan, a year-on-year increase of 38% to 42%. This forecast reflects the company’s current preliminary views. Major changes may occur.
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