Yirendai, an affiliate of CreditEase, is the only Chinese online lender publicly traded on a US exchange; its stock price closed at $29.29 prior to the company's earnings announcement after the closing bell on March 15; year-to-date the stock is up 41.36%; the earnings results showed revenue of $154.3 million for the fourth quarter, beating estimates by $19.38 million and increasing 137% from the comparable quarter; revenue for the year was $466.4 million an increase from $190.1 million in 2015; earnings per share for the fourth quarter were $0.91, beating estimates by $0.58 and increasing 287% from the comparable quarter; earnings per share for the year were $2.72 an increase from $0.79. Source
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Yirendai launched a new open technology platform at LendIt USA called Yirendai Enabling Platform; the platform will provide solutions for data acquisition, anti-fraud technology and customer acquisition; it is primarily targeted for Chinese marketplace lenders; its capabilities are expected to help marketplace lending companies improve customer experience, increase efficiency, lower costs and mitigate fraud. Source
Yirendai has announced it will release its Q3 unaudited earnings on November 15, 2016, after the US markets close; analyst Peter Engelwood is reporting that in the last quarter, institutional investors have increased their percentage holding of Yirendai's equity by 1.53%, to a total of 6.20%; the stock has risen from approximately $20 to $29 in the past month. Source
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Yirendai announced the appointment of Dr. Yichuan Pei as chief credit officer; Dr. Pei was recently vice general manager of Ping An Bank in Shanghai; "Dr. Yichuan Pei is a highly regarded credit expert with extensive experience in the financial industry. We warmly welcome him to join our senior management team. With Dr. Pei assuming his roles as chief credit officer, we are very confident to further enhance our market leading capabilities of credit underwriting and risk management," said Ms. Yihan Fang, chief executive officer of Yirendai. Source
In an opinion article, one investor shares emails that have been leaked at Chinese marketplace lender Yirendai (NYSE: YRD); leaked emails show the company's chairman requiring parent company employees at CreditEase to invest in a fund to purchase undisclosed US equities; the author states the fund is likely purchasing shares of YRD and presents his case for shorting the stock; the stock recently saw volatility following China's new regulatory guidance for P2P lenders. Source
Last Friday Peter and I had the honor of joining the CreditEase team on the NYSE floor to ring the...
The fintech world will be gathering in San Francisco next week for LendIt Fintech USA 2019. To help you navigate...
[Editor’s note: This is a guest post from Mark Lusky of Mark Lusky Communications, a writing and marketing communications firm, operating since 1982....