FinVolution Group (FINV) stock prices were up by 1.54% as of the market closing on October 19th 2021. This brought the price per share up to USD$5.93. Subsequent premarket fluctuations saw the stock rise by 5.90%, bringing it up to USD$6.28.
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October 20th 2021 saw the leading Chinese fintech platform announce the raising of guidance for the full year 2021. The company raised its total transaction volume guidance for the year up to a range of USD$20.33 billion to USD$21.11 billion. This forecast is based on a current assessment of operational and market conditions and represents a year over year increase of a range of 102.8% to 110.6%. The new guidance is up from a range of USD$15.63 billion to USD$18.76 billion. The increase guidance factors in recent changes in macro environment, in tandem with the robust strategy execution in the first half of 2021. This reflects increased confidence in business trends and the company’s ability to gain further momentum.
Building on Success
This development follows FINV stock’s acceleration of its initiatives in international expansion, facilitation for small business owners, and continued investment in technology. In conjunction with the successful execution of acquiring better quality borrowers, the percentage of loans facilitated at or below a rate of 24% per annum has further increased to 77% in September 2021. The company’s continued investments in cutting edge technology and enhancement of its sophisticated credit risk management framework, FINV stock is well positioned to support it borrowers. The company is allocating resources towards remaining nimble and vigilant in the execution of its strategy, facilitating the provision of support for institutional funding partners with stellar service and products in a context plagued by the proliferating Delta-variant of the coronavirus.
About FINV Stock
The leading Chinese fintech platform aims to connect underserved individual borrowers with financial institutions. FINV stock is a pioneer in the country’s online consumer finance industry, facilitating the development of innovative technologies and accumulating in-depth experience in the core areas of credit risk assessment, fraud detection, big data, and artificial intelligence.
Future Outlook for FINV Stock
The company is keen to maintain its trajectory of success in light of its revised guidance. FINV stock is poised to capitalize on the expanded scope of opportunities afforded to it as a result of the momentum it has generated over the course of the year so far. Current and potential investors are hopeful that management will be able to effectively leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.