FinVolution Group
FINV, FVGPY · Loan Brokers · EDGAR filings ↗
Reference price $1.07 — last insider sale, 2026-05-28 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B79Profitable Chinese fintech lending platform with high returns, strong cash generation and a fortress balance sheet, tempered by VIE/China risk.
Strengths
- ROE 15.4% (73.5 pct), ROA 10% (88.4 pct), net margin 18.7% (84.7 pct)
- $8.4B cash, negligible debt-to-equity, FCF at 93.6 pct
- Diversified into overseas markets (Indonesia, Philippines, Australia)
Risks
- Modest revenue growth (3.8%) and loan volume roughly flat in China
- VIE structure, trust/guarantee and interest-rate-cap regulatory exposure
- HFCAA/PRC oversight overhang
Notable findings
- Customer concentration~75% of revenue from one customer/distributor — In 2025, we generated 75
- Strong balance sheetStrong balance sheet — $1.2B cash & investments
Key metrics
Net margin
18.7%
Return on equity
15.4%
Return on assets
10.0%
Revenue growth (QoQ)
8.4%
Net-income growth
11.3%
Debt / equity
0.0×
Free cash flow
$255M
Tangible book value
$2.3B
Cash & investments
$1.2B
Stock comp / revenue
1.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-02 | Li Tiezheng | Tax withheld | 329K | $1.05 |
| 2026-06-01 | Li Tiezheng | Option exercise | 697K | — |
| 2026-05-28 | Xiang Bing | Sell | 75K | $1.07 |
| 2026-05-24 | Lai Jimmy Y. | Option exercise | 19K | — |
| 2026-05-24 | Xiang Bing | Option exercise | 19K | — |
| 2026-05-24 | Ho Simon Tak Leung | Option exercise | 12K | — |
| 2026-04-13 | Chen Pingping | Tax withheld | 450K | $0.99 |
| 2026-04-13 | Wang Yuxiang | Tax withheld | 454K | $0.99 |
| 2026-04-10 | Xu Jiayuan | Option exercise | 742K | — |
| 2026-04-10 | Wang Yuxiang | Option exercise | 971K | — |
| 2026-04-10 | Chen Pingping | Option exercise | 966K | — |
| 2026-04-09 | Li Tiezheng | Tax withheld | 48K | $1.01 |
| 2026-04-08 | Xu Jiayuan | Option exercise | 139K | — |
| 2026-04-08 | Li Tiezheng | Option exercise | 103K | — |
| 2026-04-06 | Wang Yuxiang | Tax withheld | 905K | $1.01 |
| 2026-04-06 | Li Tiezheng | Tax withheld | 155K | $1.01 |
| 2026-04-06 | Chen Pingping | Tax withheld | 586K | $1.01 |
| 2026-04-03 | Chen Pingping | Option exercise | 1.3M | — |
| 2026-04-03 | Wang Yuxiang | Option exercise | 2.0M | — |
| 2026-04-03 | Li Tiezheng | Option exercise | 380K | — |
| 2026-04-03 | Xu Jiayuan | Option exercise | 214K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001493152-26-019597 ↗ |
| 20-F | 2025-04-18 | 2024-12-31 | 0001641172-25-005409 ↗ |
| 20-F | 2024-04-25 | 2023-12-31 | 0001193125-24-113868 ↗ |
| 20-F | 2023-04-25 | 2022-12-31 | 0001193125-23-113869 ↗ |
| 20-F | 2022-04-29 | 2021-12-31 | 0001193125-22-129801 ↗ |
| 20-F | 2021-04-28 | 2020-12-31 | 0001193125-21-135550 ↗ |
| 20-F | 2020-04-30 | 2019-12-31 | 0001193125-20-128778 ↗ |
| 20-F | 2019-04-25 | 2018-12-31 | 0001193125-19-119643 ↗ |
| 20-F | 2018-04-27 | 2017-12-31 | 0001564590-18-009574 ↗ |