X Financial (XYF) has released an update.
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X Financial, a prominent online finance firm in China, reported a significant growth in its loan facilitation and origination, with a yearly increase of 43.3% totaling RMB 105,557 million for 2023. The company also saw a 35.1% surge in active borrowers, reaching nearly 4.5 million in the same period. Despite these gains, the firm observed rising delinquency rates, suggesting potential challenges ahead.
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