For the Three Months Ended/As of

March 31 , 2025

March 31 , 2026

Total Transaction Volume (RMB in billion s )¹

52.1

42.6

-18.2 %

- Chinese Mainland²

49.1

38.5

-21.6 %

- Overseas Markets³

3.0

4.1

36.7 %

Total Outstanding Loan Balance (RMB in billion s )

74.1

67.7

-8.6 %

- Chinese Mainland⁴

72.2

65.1

-9.8 %

- Overseas Markets⁵

1.9

2.6

36.8 %

¹ Represents the total transaction volume facilitated in the Chinese Mainland and overseas markets on the Company's platform during the period presented.

² Represents our transaction volume facilitated in the Chinese Mainland during the period presented. During the first quarter, RMB15.5 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

³ Represents our transaction volume facilitated in Indonesia, the Philippines and Australia during the period presented.

⁴ Outstanding loan balance as of any date refers to the balance of outstanding loans in the Chinese Mainland market excluding loans delinquent for more than 180 days from such date. As of March 31, 2026, RMB35.0 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

⁵ Outstanding loan balance as of any date refers to the balance of outstanding loans in Indonesia, the Philippines and Australia excluding loans delinquent for more than 30 days from such date. 

⁶ Represents the total number of borrowers in the Chinese Mainland who successfully borrowed on the Company's platform during the period presented.

⁷ Represents the transaction volume facilitated for borrowers who had historically completed a transaction on the Company's platform in the Chinese Mainland during the period presented.

⁸ "90 day+ delinquency ratio" refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company's platform as of a specific date. Loans that originated outside the Chinese Mainland are not included in the calculation.

⁹ Represents revenue from the Chinese Mainland. Prior period segment results from the Chinese Mainland have been recast to conform to the current period presentation. Please refer to the "Selected Segment Information" tables at the end of this release for a breakdown by segment for the periods presented.

¹⁰ Please refer to the "Selected Segment Information" tables at the end of this release for reconciliation between Operating Segment Profit/(Loss) and GAAP operating profit.

¹¹ Please refer to the "Selected Segment Information" tables at the end of this release for reconciliation between GAAP operating profit and Non-GAAP adjusted EBITDA.

¹² Represents the total number of borrowers in Indonesia, the Philippines and Australia who successfully borrowed on the Company's platforms during the period presented.

¹³ Represents the total number of new borrowers in Indonesia, the Philippines and Australia whose transactions were facilitated on the Company's platforms during the period presented.

¹⁴ Represents revenue from overseas markets outside the Chinese Mainland, namely Indonesia, the Philippines, and Australia. Prior period segment results from overseas markets have been recast to conform to the current period presentation. Please refer to "Selected Segment Information" for a breakdown by segment for the periods presented.

¹⁵ Please refer to "UNAUDITED Reconciliation of GAAP and Non-GAAP Results" for reconciliation between GAAP and Non-GAAP adjusted operating profit.

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data, or otherwise noted)

As of December 31,

As of March 31,

2025

2026

RMB

RMB

USD

Assets

Cash and cash equivalents

4,285,121

4,687,773

679,584

Restricted cash

1,912,850

1,862,880

270,061

Short-term investments

3,015,226

2,643,817

383,273

Investments

1,141,816

1,142,087

165,568

Quality assurance receivable, net of credit loss allowance for
  quality assurance receivable of RMB581,475 and RMB616,214
  as of December 31, 2025 and March 31, 2026, respectively  

1,315,184

1,376,678

199,576

Intangible assets

270,246

270,246

39,177

Property, equipment and software, net

641,316

625,456

90,672

Loans receivable, net of credit loss allowance for loans receivable
  of RMB544,905 and RMB572,937 as of December 31, 2025 and
  March 31, 2026, respectively

6,471,619

6,963,186

1,009,450

Accounts receivable and contract assets, net of credit loss
  allowance for accounts receivable and contract assets of
  RMB340,816 and RMB349,157 as of December 31, 2025 and
  March 31, 2026, respectively 

2,028,585

1,599,215

231,838

Deferred tax assets

2,992,071

3,219,281

466,698

Right of use assets

52,020

50,340

7,298

Prepaid expenses and other assets

1,207,791

1,168,487

169,395

Goodwill

79,759

79,759

11,563

Total assets

25,413,604

25,689,205

3,724,153

Deferred guarantee income

1,119,004

1,130,264

163,854

Liability from quality assurance commitment

2,574,842

2,374,176

344,183

Payroll and welfare payable

361,188

186,742

27,072

Taxes payable

177,064

428,808

62,164

Short-term borrowings

170,408

192,101

27,849

Funds payable to investors of consolidated trusts

778,531

974,768

141,312

Contract liability

226

-

-

Deferred tax liabilities

786,556

787,615

114,180

Accrued expenses and other liabilities

1,448,231

1,380,470

200,126

Leasing liabilities

44,711

44,760

6,489

Dividends payable

-

506,708

73,457

Convertible senior notes

1,019,266

1,005,162

145,718

Long-term borrowings

89,590

132,118

19,153

Total liabilities

8,569,617

9,143,692

1,325,557

Commitments and contingencies

FinVolution Group Shareholders' equity

Ordinary shares

103

103

15

Additional paid-in capital

5,908,586

5,942,443

861,473

Treasury stock

(2,465,259)

(2,736,995)

(396,781)

Statutory reserves

1,042,312

1,042,312

151,104

Accumulated other comprehensive income

13,027

38,083

5,521

Retained Earnings

12,051,332

11,959,686

1,733,790

Total FinVolution Group shareholders' equity

16,550,101

16,245,632

2,355,122

Non-controlling interest

293,886

299,881

43,474

Total shareholders' equity

16,843,987

16,545,513

2,398,596

Total liabilities and shareholders' equity

25,413,604

25,689,205

3,724,153

FinVolution Group

UNAUDITED  INTERIM  CONDENSED  CONSOLIDATED  STATEMENTS  OF  COMPREHENSIVE  INCOME

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31,

2025

2026

RMB

RMB

USD

Operating revenue:

Loan facilitation service fees

1,477,798

1,181,314

171,255

Post-facilitation service fees

380,614

348,343

50,499

Guarantee income

1,099,514

886,069

128,453

        Net interest income

241,614

484,681

70,264

Other revenue

281,501

309,655

44,890

Net revenue

3,481,041

3,210,062

465,361

Operating expenses:

       Origination, servicing expenses and other costs of revenue

(620,465)

(745,172)

(108,027)

Sales and marketing expenses

(529,703)

(492,447)

(71,390)

Research and development expenses

(126,041)

(125,459)

(18,188)

General and administrative expenses

(106,894)

(113,843)

(16,504)

Provision for accounts receivable and contract assets

(117,718)

(111,514)

(16,166)

Provision for loans receivable

(85,414)

(218,148)

(31,625)

Credit losses for quality assurance commitment

(1,011,615)

(856,637)

(124,186)

Total operating expenses

(2,597,850)

(2,663,220)

(386,086)

Operating profit

883,191

546,842

79,275

Interest expenses

(652)

(17,147)

(2,486)

Other income/(expenses), net

9,033

(15,521)

(2,250)

Profit before income tax expense

891,572

514,174

74,539

Income tax expenses

(153,931)

(93,117)

(13,499)

Net profit

737,641

421,057

61,040

Less: Net (loss)/profit attributable to non-controlling interest shareholders

(8,765)

5,995

869

Net profit attributable to FinVolution Group

746,406

415,062

60,171

Foreign currency translation adjustment, net of nil tax

(16,273)

25,056

3,632

Total comprehensive income attributable to FinVolution Group

730,133

440,118

63,803

Weighted average number of ordinary shares used in computing net profit  per share

Basic

1,265,759,932

1,194,294,986

1,194,294,986

Diluted

1,315,948,116

1,283,838,301

1,283,838,301

Net profit per share attributable to FinVolution Group's ordinary shareholders

Basic

0.59

0.35

0.05

Diluted

0.57

0.33

0.05

Net profit per ADS attributable to FinVolution Group's ordinary shareholders (one ADS equals five ordinary shares)

Basic

2.95

1.74

0.25

Diluted

2.84

1.65

0.24

FinVolution Group

UNAUDITED  INTERIM  CONDENSED  CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS

(All  amounts in thousands, except share data, or otherwise noted)

Three Months Ended March 31,

2025

2026

RMB

RMB

USD

Net cash provided by operating activities

522,335

225,990

32,760

Net cash provided by investing activities

365,196

146,022

21,168

Net cash (used in)/provided by financing activities

(198,331)

9,418

1,366

Effect of exchange rate changes on cash and cash equivalents

(11,265)

(28,748)

(4,166)

Net increase in cash, cash equivalents and restricted cash

677,935

352,682

51,128

Cash, cash equivalents and restricted cash at beginning of period

6,747,072

6,197,971

898,517

Cash, cash equivalents and restricted cash at end of period

7,425,007

6,550,653

949,645

FinVolution Group

UNAUDITED Reconciliation of GAAP and Non-GAAP Results

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31,

2025

2026

RMB

RMB

USD

Net Revenue

3,481,041

3,210,062

465,361

Less: total operating expenses

(2,597,850)

(2,663,220)

(386,086)

Operating P rofit

883,191

546,842

79,275

Add: share-based compensation expenses

34,679

38,173

5,534

Non-GAAP adjusted operating profit

917,870

585,015

84,809

Operating Margin

25.4 %

17.0 %

17.0 %

Non-GAAP operating margin

26.4 %

18.2 %

18.2 %

Non-GAAP adjusted operating profit

917,870

585,015

84,809

Less: interest expenses

(652)

(17,147)

(2,486)

Add: other income/(expenses), net

9,033

(15,521)

(2,250)

Less: income tax expenses

(153,931)

(93,117)

(13,499)

Non-GAAP net profit

772,320

459,230

66,574

Less: Net (loss)/profit attributable to non-controlling interest shareholders

(8,765)

5,995

869

Non-GAAP net profit attributable to FinVolution Group

781,085

453,235

65,705

Weighted average number of ordinary shares used in computing net profit  per share

Basic

1,265,759,932

1,194,294,986

1,194,294,986

Diluted

1,315,948,116

1,283,838,301

1,283,838,301

Non-GAAP net profit per share attributable to FinVolution Group's ordinary shareholders

Basic

0.62

0.38

0.06

Diluted

0.59

0.36

0.05

Non-GAAP net profit per ADS attributable to FinVolution Group's ordinary shareholders (one ADS equals
five ordinary shares)

Basic

3.09

1.90

0.28

Diluted

2.97

1.80

0.26

FinVolution Group

Selected Segment Information 

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31, 2026

Chinese Mainland

Overseas Markets⁽¹⁾

Others⁽²⁾

Elimination

Total

RMB

RMB

RMB

RMB

RMB

Net Revenue

2,216,096

948,946

50,148

(5,128)

3,210,062

Less⁽³⁾: Operating Expenses ⁽⁴⁾

(1,617,349)

(903,196)

(88,761)

5,128

(2,604,178)

Operating Segment Profit/(Loss)

598,747

45,750

(38,613)

-

605,884

Less: Unallocated expenses⁽⁵⁾

(59,042)

Operating profit

546,842

For the Three Months Ended March 31, 2025

Chinese Mainland

Overseas Markets ⁽¹⁾

Others⁽²⁾

Elimination

Total

RMB

RMB

RMB

RMB

RMB

Net Revenue

2,770,160

705,343

8,250

(2,712)

3,481,041

Less⁽³⁾: Operating Expenses ⁽⁴⁾

(1,857,018)

(680,964)

(27,901)

2,712

(2,563,171)

Operating Segment Profit/(Loss)

913,142

24,379

(19,651)

-

917,870

Less: Unallocated expenses⁽⁵⁾

(34,679)

Operating profit

883,191

Notes:

(1): "Overseas Markets" includes Indonesia, the Philippines and Australia.

(2): "Others" includes a combination of multiple business activities that each does not meet the quantitative thresholds to qualify as reportable segments.

(3): The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(4): "Operating Expenses" includes Origination, servicing expenses and other costs of revenue, Sales and marketing expenses, General and
administrative expenses, Research and development expenses, Credit losses for quality assurance commitment, Provision for loans receivable and Provision
for accounts receivable and contract assets.

(5): Unallocated expenses are mainly related to share-based compensation, impairment of goodwill of prior acquisitions, and other miscellaneous items that
are not allocated to segments. These expenses are excluded from segment results as they are not reviewed by the CODM as part of segment performance.

FinVolution Group

Selected Segment Information

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31, 2026

Chinese Mainland

Overseas Markets

Others

Unallocated expenses

Total

RMB

RMB

RMB

RMB

RMB

Operating profit

598,747

45,750

(38,613)

(59,042)

546,842

Add: Depreciation and amortization

16,180

1,785

116

-

18,081

Add: Share-based compensation expenses

-

-

-

38,173

38,173

Non-GAAP Adjusted EBITDA

614,927

47,535

(38,497)

(20,869)

603,096

For the Three Months Ended March 31, 2025

Chinese Mainland

Overseas Markets

Others

Unallocated expenses

Total

RMB

RMB

RMB

RMB

RMB

Operating profit

913,142

24,379

(19,651)

(34,679)

883,191

Add: Depreciation and amortization

16,919

1,104

11

-

18,034

Add: Share-based compensation expenses

-

-

-

34,679

34,679

Non-GAAP Adjusted EBITDA

930,061

25,483

(19,640)

-

935,904

Note:

"Non-GAAP Adjusted EBITDA" represents operating profit (loss) plus (a) depreciation and amortization expenses and (b) share-based compensation expenses.