Stock, Jiayin Group Inc. (NASDAQ: JFIN) what Came to Know?

On 29 Jan 2020, Jiayin Group Inc. (NASDAQ: JFIN) stock observed trading -82.76% off 52-week high price. On the other end, the stock has been noted 5.71% away from low price over the last 52-weeks. The stock disclosed a move of -34.30% away from 50 day moving average and -62.74% away from 200 day moving average. Moving closer, we can see that shares have been trading -21.77% off 20-day moving average.

Jiayin Group Inc (JFIN) recently reported its unaudited financial results for the quarter ended September 30, 2019.

Financial Results

Net revenue was RMB510.8M (US$71.5M), representing a raise of 0.5% from the same period of 2018.

Revenue from loan facilitation services was RMB396.5M (US$55.5M), representing a raise of 6.6% from the same period of 2018, primarily Because of the increased loan origination volume contrast with the same period of 2018.

Revenue from post-origination services was RMB59.3M (US$8.3M), representing a decrease of 3.4% from the same period of 2018. The decrease was Because of the disposal of our before-consolidated associated company Shanghai Caiyin Asset Management Co, Ltd. (“Caiyin”), which provided certain post-origination loan services.

Origination and servicing expense was RMB101.1M (US$14.1M), representing a raise of 2.7% from the same period of 2018, primarily Because of higher expenses associated with credit assessment.

Allowance for uncollectible receivables and contract assets was RMB67.8M (US$9.5M), representing a raise of 156.9% from the same period of 2018, primarily Because of the increase in loan origination volume and unfavorable changes in estimated collectability, which is caused by difficult industry conditions.

Sales and marketing expense was RMB152.4M (US$21.3mmm), representing a raise of 33.8% from the same period of 2018, driven by a raise in advertising expenses to promote the Company’s brand.

General and administrative expense was RMB47.5M (US$6.6M), representing a raise of 76.7% from the same period of 2018. The increase was primarily Because of increased staffing cost, as well as certain share-based compensation expense allocated to general and administrative expenses.

Research and development expense was RMB58.6M (US$8.2M), representing a raise of 60.0% from the same period of 2018, as the Company continued to invest in technology.

Income from operations was RMB83.5M (US$11.7M), contrast with an operating loss of RMB 55.8M in the same period of 2018.

Net income attributable to Jiayin shareholders was RMB81.8M (US$11.4M), contrast with a net loss of RMB44.0M in the same period of 2018.

Cash and cash equivalents at quarter-end were RMB238.0M (US$33.3M), contrast with RMB359.8M in the same period of 2018.

During the quarter, the Company conducted a business combination with Geerong Yun (Shanghai) Enterprise Development Co., Ltd. (“Geerong Yun”), an innovative fintech-driven platform connecting financial institutions. Previousto the combination, Geerong Yun and Jiayin were under the ordinary control of Mr. Dinggui Yan, the Founder, Director and Chief Executive Officer of Jiayin. The combination has been retrospectively reflected in the financial statements from the startning of 2019, but not to previous periods as the impact was not material. The consolidation is intended to support the growth of Jiayin’s institutional funding sources, as well as to strengthen our big data analytics and fintech R&D. In addition, during this quarter, the Company disposed Caiyin, the details of the disposal was provided in the Company’s press releases furnished to the SEC on form 6-Ks, including the relevant exhibits which dated on September 16, 2019 and October 24, 2019, respectively.

The China based company Jiayin Group Inc. moved with change of 4.54% to $3.88 with the total traded volume of 443 shares in recent session versus to an average volume of 20.53K. JFIN’s shares are at -59.26% for the quarter and driving a # ref return over the course of the past year and is now at -26.26% since this point in 2018. The average volatility for the week and month was at 3.60% and 6.63% respectively. There are 53.97M shares outstanding and 3.5M shares are floated in market.