The bottom-line benefitted from a 50% growth in revenues to RMB 3.34 billion ($472.8 million), with Credit Driven Services and Platform Services increasing 53% and 22%, respectively. At RMB 58.9 billion, total loan origination volume was up 22% from last year, reflecting a strong contribution from Platform Services.
“We are very excited to report a series of record-breaking financial and operational metrics for the second quarter of 2020 despite the still challenging macro environment. Loan origination volume reached a record RMB58.9 billion, an increase of 22% year-on-year,” said CEO Haisheng Wu.
360 Finance will be holding an extraordinary general meeting of shareholders on September 15 to seek shareholders’ approval for its plan to change the company’s name to “360 DigiTech Inc.”
Soon after the earnings announcement, shares of the company rose sharply in Monday’s pre-market trading at the Nasdaq stock exchange, after closing the previous session higher.
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