FAST NEWS: Yatsen’s Revenue Falls in Third Quarter, Sees More Declines in Fourth

The latest: Yatsen Holding Ltd. (YSG.US), parent of the “Perfect Diary” online cosmetics community, reported Tuesday its revenue plunged 36.1% to 858 million yuan ($121 million) in the third quarter. The company’s management expects fourth quarter revenue to range from 917 million to 1.07 billion yuan, down by a similar 30% to 40% year-over-year. Looking up: Despite the third-quarter revenue decline, the company’s net loss for the period narrowed by 41.7% to 211 million yuan, mainly due to a 33.1% decrease in operating expenses to 857 million yuan, of which…

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Online Loan Facilitators Enter ‘Risk Management Mode’ as Times Get Tough

Lexin, 360 DigiTech and FinVolution are turning their focus to high-quality borrowers at the expense of revenue growth to shield themselves from growing default risks Key Takeaways: Lexin and 360 DigiTech reported third-quarter revenue and profit declines as they refrained from lending to riskier borrowers and boosted default provisions The results show that fintech loan facilitators are turning cautious to avoid default-related loan losses as China’s economy slows By Warren Yang “Risk management trumps all” appears to be the mantra for Chinese online loan companies these days as China’s economy…

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If JD Tech Is Getting Back on IPO Track, Could Ant Group Be Next?

China’s securities regulator is reported to be taking another look at JD Technology’s IPO application and might approve the listing at the end of the year. The market thinks Alibaba’s Ant Group may also be getting close to reviving its IPO Key Takeaways: Reports are circulating that Chinese securities regulators are reviewing JD Technology’s IPO application, and that the firm’s investment bankers have resumed work on the listing Meanwhile, Ant Group has taken a potential step towards a revived IPO after boosting the registered capital of its consumer finance arm…

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