We offer a diversified portfolio of loan products to high-quality and selected underserved borrowers, financed by third-party funding partners or our subsidiaries. Historically, we branded this business as “credit-tech business,” and we re-branded it as “financial services business” in the second quarter of 2023 to better capture its essence. As of December 31, 2023, we had served approximately 9.3 million borrowers. In 2021, 2022 and 2023, the aggregate loans we facilitated amounted to RMB23,195.2 million, RMB22,623.1 million and RMB36,036.3 million (US$5,075.6 million), respectively. Under the financial services business, the loans are primarily funded by third parties. Our business model is empowered by our AI and data technologies, user-centric systems and online servicing platform. We provide borrowers with fast and convenient access to credit products at competitive rates.
For insurance brokerage services, we offer a wide range of products and services, covering both life and property insurance, as well as both B2B and B2C business. For life and health insurance, we focus on critical illness insurance products, annuities, whole life, term life, endowment life, and long-term and short-term health insurance products. For property and casualty insurance, we provide insurance products such as household property insurance, corporate property insurance, liability insurance, auto insurance, cargo insurance, and accident insurance products. As of March 31, 2024, we have more than 30 physical branches nationwide, covering more than 20 provinces.
Our HQ location is now: 23/F China Merchants Bureau Building, 118 Jianguo Rd, Beijing, China
Yiren Digital was incorporated in September 2014 in the Cayman Islands.
Our employees is 1,064 as of Dec 31, 2022.
Yiren Digital became a publicly listed company in December 2015.
Yiren Digital's ADSs trade on NYSE under the ticker ‘YRD’.
Our current legal counsel is Cooley LLP.
Our current auditor is Wei, Wei & Co., LLP
One ADS represents two Class A ordinary shares.
December 31.
To begin with, our target borrowers are those who have stable incomes and relatively good credit records, yet are underserved by traditional banks or traditional banking services such as credit cards in China. Moreover, our services are much more efficient and AI-driven than banks'. The entire lending process, from loan application to receiving money, typically takes less than 5 minutes on our platform, whereas it would take a longer time and more documentation when applying for a credit card from banks. To provide more insight into our customer profile, most of our borrowers are young people aged 25 to 45 with employment and stable salaries. As of December 31, 2023, around 70% of our borrowers are male and 30% are female, with the majority being young.
