RTTNews | Apr 1, 2021 08:01AM EDT

08:01 Thursday, April 1, 2021 (RTTNews.com) - Yiren Digital Ltd. (YRD) reported that its net loss for the fourth quarter of 2020 was RMB 559.6 million or US$85.8 million, compared to net income of RMB 404.0 million in the same period last year.

Adjusted net income for the quarter was RMB 96.2 million or US$14.7 million, excluding the loss of disposal from Restructuring.

Total net revenue in the fourth quarter of 2020 was RMB 1.16 billion or US$177.9 million, compared to RMB 2.36 billion in the same period last year due to decreased loan volume.

In wealth management business, it is expected that total sales volume of current products to be between RMB 20 billion and RMB 30 billion for fiscal year 2021. For credit-tech business, annual total loan originations are expected to be between RMB 20 billion and RMB 25 billion.

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