Yiren Digital Ltd. (NYSE:YRD) Q4 2022 Earnings Call Transcript

Ning Tang: We’ll try to do better, obviously…

Unidentified Analyst: Yes. Okay. I mean I do remember, frankly, I remember when you went public through Morgan Stanley back in December of 2015 and I bought on the IPO. And of course, your stock was quite a bit higher over the years before some of the regulatory changes made peer-to-peer lending business that was not recognized and you’ve been able to pivot quite well so that your business is a lot more diversified, not just loans but of course, the insurance and things like that, the wealth management. And so you’re doing a very good job. It would be nice to see the stock reflect that. I think it should be worth several times where it is. And so it would be worth your while to try and get some research coverage or go to some conferences or what have you to get greater awareness of it.

Ning Tang: Thank you again, for your trust many years ago and today. And with COVID over us, we would do more travel, yes indeed.

Operator: And we do have an additional question. This comes from Ethan Yu from First Trust China.

Unidentified Analyst: Congratulations on your outstanding quarterly performance, especially with your strong margins. Thanks for the previous investor — the answer 1 of my question is about repurchase program. And I have another kind of question that I’m interested in knowing, how you overseas business development is progressing?

Ning Tang: Is about our overseas business development, right?

Unidentified Analyst: Yes, your overseas business development.

Ning Tang: Yes. And — Yes. And last quarter, we started to do business in Southeast Asia to be specific in the Philippines. It’s in early stage of business operations. But we do see it become a bigger and bigger portion of our Credit-Tech business revenue. Yes. And we will go from the Philippines to other countries, other markets in Southeast Asia and potentially other parts of the world, leveraging our fintech capabilities established in home market. Yes. It’s still in early days, but we are very hopeful that, yes, it will become a key part of our business and is very strategic for us to do this, yes, capability expansion, right. We’re now in the Philippines. And we did our first yes, last quarter in the Philippines.

Operator: And ladies and gentlemen, in showing no additional questions, we’ll conclude today’s question-and-answer session as well as today’s conference call. We thank you for attending today’s presentation. You may now disconnect your lines.

Ning Tang: Thank you.

Na Mei: Thank you.