X Financial rises on strong Q1 profit, rev

X Financial

25/05/2023 14:15

** U.S.-listed shares of Chinese online personal finance co
X Financial  XYF.N  up 31% at $4.07 in premarket trading
    ** Posts Q1 net income per diluted American depositary share
of RMB5.82 ($0.85), up 136.6% from last year 
    ** Says Q1 revenue rose 13.1% to RMB1.00 bln 
    ** "We have seen signs of economic recovery in China, with
increased consumer spending and better-than-expected GDP growth
in the first quarter" - CEO Justin Tang 
    ** Co sees to deliver steady quarterly improvement in both
its top and bottom lines throughout the year
    ** Also expects total loan amount facilitated and originated
to be between RMB25 bln and RMB26 bln for Q2, up from RMB24.1
bln sequentially 
    ** Up to Wednesday's close, stock up 2.6% this year 

 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))