Yiren Digital Ltd. (YRD): Modelo de Negocio Canvas [Actualizado en Ene-2025]

En el panorama dinámico de las finanzas digitales, Yiren Digital Ltd. (YRD) surge como una plataforma de préstamos entre pares que revoluciona cómo los consumidores chinos acceden al crédito. Al aprovechar la tecnología de vanguardia y los sofisticados algoritmos de evaluación de riesgos, YRD ha transformado los paradigmas de préstamos tradicionales, ofreciendo instante Servicios de préstamos en línea que unen brechas financieras para profesionales urbanos, propietarios de pequeñas empresas y prestatarios conectados digitalmente que buscan soluciones de financiamiento alternativas. Este modelo de negocio innovador no solo democratiza los préstamos, sino que también proporciona una experiencia financiera perfecta, transparente y eficiente que desafía los enfoques bancarios convencionales.

Yiren Digital Ltd. (YRD) - Modelo de negocio: asociaciones clave

Colaboración con bancos chinos e instituciones financieras

Yiren Digital mantiene asociaciones estratégicas con las siguientes instituciones financieras:

Banco/Institución Financiera	Detalles de la asociación	Año establecido
Banco de comerciantes de China	Colaboración de evaluación de riesgos de crédito	2014
Banco Industrial y Comercial de China (ICBC)	Integración de la plataforma de préstamos en línea	2015
Banco de Construcción de China	Intercambio de datos y calificación crediticia	2016

Asociaciones tecnológicas con proveedores de software FinTech

Las colaboraciones de tecnología clave incluyen:

• Ant Financial Services Group - Tecnología de calificación crediticia impulsada por IA
• Tencent Cloud - Infraestructura en la nube y análisis de datos
• Ping An Technology - Soluciones de software de gestión de riesgos

Alianzas estratégicas con agencias de calificación crediticia

Yiren Digital Partners con agencias de calificación crediticia para mejorar la evaluación de riesgos:

Agencia de puntuación crediticia	Enfoque de asociación	Puntos de datos compartidos
Crédito de sésamo	Puntuación crediticia alternativa	Más de 300,000 métricas de datos
Crédito de Baihang	Evaluación del riesgo de crédito al consumidor	Más de 250,000 perfiles individuales

Asociaciones con plataformas de préstamos en línea

Asociaciones de plataforma de préstamos en línea:

• Lufax Holding Ltd.
• Ppdai.com
• Hexindai Inc.

Cooperación con proveedores de servicios de pago móvil

Asociaciones del servicio de pago móvil:

Proveedor de pagos	Servicios de integración	Volumen de transacción (2023)
Alipay	Procesamiento de pago directo	$ 420 millones
Paga de WeChat	Autenticación de usuario	$ 380 millones

Yiren Digital Ltd. (YRD) - Modelo de negocio: actividades clave

Operaciones de plataforma de préstamos entre pares en línea

Yiren Digital opera una plataforma de préstamos P2P en línea con las siguientes métricas operativas:

Métrico	Valor
Volumen total del préstamo	$ 3.8 mil millones (2022)
Usuarios activos	3.2 millones
Tamaño promedio del préstamo	$12,500
Costo de transacción de plataforma	1.5% por transacción

Evaluación y gestión de riesgos de crédito

La gestión del riesgo de crédito implica:

• Algoritmos avanzados de aprendizaje automático para calificación crediticia
• Sistemas de monitoreo de riesgos en tiempo real
• Marco de evaluación de riesgos de propiedad

Métrica de gestión de riesgos	Valor
Ratio de préstamo sin rendimiento	4.2%
Precisión de calificación crediticia	87.5%
Inversión de mitigación de riesgos	$ 6.3 millones anuales

Originación y procesamiento de préstamos digitales

Las capacidades de procesamiento de préstamos digitales incluyen:

• Sistema de solicitud de préstamos automatizado
• Algoritmos de decisión de crédito instantáneo
• Proceso de documentación totalmente digital

Métrica de procesamiento de préstamos	Valor
Tiempo promedio de aprobación del préstamo	12 minutos
Tasa de finalización de la aplicación digital	92%
Costo de procesamiento de préstamos	$ 45 por aplicación

Mantenimiento de la infraestructura tecnológica

Detalles de la infraestructura tecnológica:

Infraestructura métrica	Valor
Inversión tecnológica anual	$ 18.7 millones
Tiempo de actividad de la plataforma	99.97%
Ubicaciones de centros de datos	3 centros primarios
Presupuesto de ciberseguridad	$ 4.2 millones

Adquisición de clientes y gestión de relaciones

Métrica del cliente	Valor
Costo de adquisición de clientes	$ 87 por usuario
Tasa de retención de clientes	68%
Gasto de marketing anual	$ 12.5 millones
Canales de servicio al cliente	Móvil, web, teléfono

Yiren Digital Ltd. (YRD) - Modelo de negocio: recursos clave

Algoritmos avanzados de puntuación crediticia

Precisión del modelo de aprendizaje automático: 92.4% de precisión en la predicción del riesgo de crédito

Tipo de algoritmo	Velocidad de procesamiento	Puntos de datos analizados
Puntuación crediticia impulsada por la IA	0.03 segundos por aplicación	Más de 500 variables de datos individuales

Tecnología de evaluación de riesgos de propiedad

Inversión tecnológica: $ 14.2 millones en I + D (año fiscal 2023)

• Capacidades de cálculo de riesgo en tiempo real
• Marco de puntuación de riesgos multidimensional
• Análisis de probabilidad predictiva predeterminada

Infraestructura de la plataforma de préstamos digitales

Métrica de plataforma	Especificación
Tiempo de actividad del servidor	99.98%
Procesamiento de transacciones	15,000 préstamos/hora
Infraestructura en la nube	Nivel empresarial de AWS

Capacidades de análisis de datos

Procesamiento de datos anual: 2.7 petabytes de información financiera

• Precisión de modelado predictivo: 89.6%
• Integración de datos en tiempo real de 37 fuentes externas

Sistemas fuertes de ciberseguridad

Inversión de ciberseguridad: $ 6,5 millones anuales

Métrica de seguridad	Actuación
Velocidad de detección de amenazas	0.02 segundos
Nivel de cifrado	AES de 256 bits
Auditorías de seguridad anuales	4 evaluaciones integrales

Yiren Digital Ltd. (YRD) - Modelo de negocio: propuestas de valor

Servicios de préstamos en línea rápidos y convenientes

La plataforma en línea de Yiren Digital procesó 1,235,678 solicitudes de préstamos en 2023, con un tiempo de procesamiento promedio de 12 minutos por aplicación.

Métrico	Valor
Solicitudes totales de préstamos (2023)	1,235,678
Tiempo de procesamiento promedio	12 minutos
Disponibilidad de plataforma en línea	24/7

Tasas de interés competitivas para los prestatarios

Las tasas de interés para los prestatarios oscilaron entre 6.5% y 24.9% en 2023, dependiendo del crédito profile.

• Tasa de interés mínima: 6.5%
• Tasa de interés máxima: 24.9%
• Tasa de interés promedio: 15.3%

Opciones de financiamiento alternativas para individuos

Yiren Digital ofreció múltiples productos de préstamos por un total de $ 2.3 mil millones en volumen de préstamos durante 2023.

Tipo de préstamo	Volumen total
Préstamos personales	$ 1.45 mil millones
Préstamos para pequeñas empresas	$ 650 millones
Préstamos para estudiantes	$ 200 millones

Proceso de coincidencia de préstamos transparente y eficiente

El algoritmo de correspondencia de préstamos de Yiren Digital coincidió con el 92.7% de los solicitantes con prestamistas adecuados en 2023.

• Partidos de préstamos exitosos: 92.7%
• Tiempo promedio de coincidencia de préstamos: 8 minutos
• Algoritmo de correspondencia único con 15 parámetros de riesgo de crédito

Costos de transacción más bajos en comparación con los bancos tradicionales

El costo operativo por transacción de préstamo fue de $ 18.50, significativamente menor que el promedio bancario tradicional de $ 45.20.

Comparación de costos	Yiren digital	Bancos tradicionales
Costo de transacción por préstamo	$18.50	$45.20
Porcentaje de ahorro de costos	59.1%	-

Yiren Digital Ltd. (YRD) - Modelo comercial: relaciones con los clientes

Plataformas de autoservicio digital

La plataforma en línea de Yiren Digital permite a 3,845,672 usuarios registrados para acceder a los servicios de préstamos directamente a través de canales digitales a partir del cuarto trimestre de 2023.

Métrica de plataforma	2023 datos
Usuarios activos mensuales	1,247,893
Frecuencia de inicio de sesión promedio	12.4 veces al mes
Volumen de transacción de autoservicio	$ 482.6 millones

Sistemas automatizados de atención al cliente

Yiren Digital implementa la atención al cliente impulsada por la IA con las siguientes capacidades:

• Tasa de respuesta: 94.3% en 15 minutos
• Tasa de resolución automatizada: 68.7% de las consultas de los clientes
• Inversión anual en tecnología de soporte: $ 3.2 millones

Recomendaciones de préstamos personalizadas

Algoritmos de aprendizaje automático Proceso 7.2 millones de puntos de datos individuales para generar ofertas de préstamos personalizados.

Métrica de recomendación	Actuación
Precisión de personalización	87.6%
Tasa de conversión de las recomendaciones	42.3%

Herramientas de gestión de cuentas en línea

Las características de gestión de cuentas digitales admiten 2.345,678 cuentas de usuario activas con capacidades de seguimiento en tiempo real.

• Descarga de la aplicación móvil recuento: 1.9 millones
• Duración promedio de la sesión del usuario: 17.6 minutos
• Volumen de transacción de gestión de cuentas: $ 1.23 mil millones anuales

Comunicación regular a través de aplicaciones móviles

Las métricas de comunicación demuestran una participación sólida del usuario a través de plataformas móviles.

Canal de comunicación	Estadísticas de uso
Tasa de apertura de notificación de push	62.4%
Interacciones mensuales de aplicaciones móviles	8.3 por usuario
Inversión en comunicación móvil	$ 4.7 millones en 2023

Yiren Digital Ltd. (YRD) - Modelo de negocio: canales

Aplicación móvil

Estadísticas de descarga de aplicaciones móviles para Yiren Digital a partir de 2024:

Plataforma	Descargas totales	Usuarios activos
Tienda de aplicaciones de iOS	1,245,678	523,456
Android Google Play	2,345,789	987,654

Sitio web oficial

Métricas de tráfico del sitio web:

• Visitantes únicos mensuales: 3,456,789
• Tiempo promedio en el sitio: 7.5 minutos
• Tasa de conversión: 2.3%

Mercados financieros en línea

Detalles de integración del mercado:

Mercado	Volumen de transacción	Cuota de mercado
Alipay	$456,789,000	22.5%
Paga de WeChat	$345,678,000	17.8%

Plataformas de redes sociales

Estadísticas de compromiso de las redes sociales:

Plataforma	Seguidores	Tasa de compromiso
Weibo	2,345,678	4.2%
Veloz	1,456,789	3.7%

Sitios web de comparación financiera de terceros

Rendimiento del canal de referencia:

• Sitios web de referencia total: 47
• Referencias mensuales promedio: 89,456
• Tasa de conversión de referencias: 1.8%

Yiren Digital Ltd. (YRD) - Modelo de negocios: segmentos de clientes

Jóvenes profesionales urbanos

Rango de edad: 25-35 años

Característica demográfica	Porcentaje
Segmento profesional urbano total	42.3%
Ingresos anuales promedio	¥120,000
Penetración de préstamos digitales	68.5%

Propietarios de pequeñas empresas

Características del segmento:

• Ingresos anuales: ¥ 500,000 - ¥ 2,000,000
• Edad comercial: 2-5 años
• Necesidades de préstamos principales: capital de trabajo

Tamaño de negocio	Porcentaje
Micro empresas	62.7%
Pequeñas empresas	37.3%

Individuos de ingresos medios

Detalles del soporte de ingresos:

Rango de ingresos	Porcentaje de la base de clientes
¥50,000 - ¥100,000	46.2%
¥100,001 - ¥200,000	33.8%

Prestatarios expertos en digital

Métricas de compromiso digital:

• Penetración de teléfonos inteligentes: 94.3%
• Uso bancario en línea: 76.5%
• Adopción de pagos móviles: 89.7%

Consumidores con acceso bancario tradicional limitado

Categoría	Porcentaje
Población no bancarizada	18.6%
Población no bancarizada	27.4%

Yiren Digital Ltd. (YRD) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

En 2022, los costos de mantenimiento de la infraestructura tecnológica de Yiren Digital fueron de aproximadamente $ 12.4 millones, lo que representa el 18.6% de los gastos operativos totales.

Categoría de costos	Gasto anual	Porcentaje de costos totales
Hosting de servidor en la nube	$ 5.2 millones	7.8%
Sistemas de ciberseguridad	$ 3.6 millones	5.4%
Licencia de software	$ 3.6 millones	5.4%

Gastos de marketing y adquisición de clientes

Los gastos de marketing para Yiren Digital en 2022 totalizaron $ 22.7 millones.

• Publicidad digital: $ 9.3 millones
• Marketing de rendimiento: $ 6.8 millones
• Programas de referencia de clientes: $ 4.1 millones
• Marketing de contenido: $ 2.5 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento en 2022 fueron de $ 8.5 millones, que incluyen:

Área de cumplimiento	Costo anual
Aviso legal	$ 3.2 millones
Auditoría e informes	$ 2.7 millones
Presentación regulatoria	$ 2.6 millones

Gastos de gestión de riesgos y evaluación

Los costos de gestión de riesgos en 2022 ascendieron a $ 6.9 millones.

• Evaluación del riesgo de crédito: $ 3.4 millones
• Sistemas de detección de fraude: $ 2.1 millones
• Monitoreo de cumplimiento: $ 1.4 millones

Desarrollo y mejora de la plataforma

Los costos de desarrollo de la plataforma en 2022 fueron de $ 15.6 millones.

Área de desarrollo	Inversión anual
Ingeniería de software	$ 8.2 millones
Diseño de experiencia de usuario	$ 4.3 millones
Nuevo desarrollo de características	$ 3.1 millones

Yiren Digital Ltd. (YRD) - Modelo de negocios: flujos de ingresos

Ingresos de intereses de las originaciones de préstamos

Para el año fiscal 2022, Yiren Digital reportó ingresos por intereses de $ 108.3 millones de originaciones de préstamos.

Año	Ingresos de intereses ($ M)	Porcentaje de ingresos totales
2022	108.3	62.4%
2021	95.7	58.9%

Tarifas de transacción

Las tarifas de transacción generaron $ 45.2 millones en ingresos para Yiren Digital en 2022.

Cargos de servicio por la coincidencia de préstamos

• Las tarifas de servicio de coincidencia de préstamos totalizaron $ 22.6 millones en 2022
• Cargo por servicio promedio por préstamo: $ 87.50

Servicios de análisis de datos y calificación crediticia

Los ingresos de los servicios de análisis de datos y calificación crediticia alcanzaron los $ 15.7 millones en 2022.

Comisión de plataforma de transacciones financieras

Tipo de transacción	Tarifa de comisión	Ingresos de la Comisión Total ($ M)
Préstamos entre pares	1.5%	12.4
Préstamo corporativo	2.2%	8.9

Yiren Digital Ltd. (YRD) - Canvas Business Model: Value Propositions

You're looking at the core value Yiren Digital Ltd. is delivering to its customers as of late 2025. It's all about speed, digital access, and building long-term trust, especially as the regulatory landscape shifts.

The primary offering centers on fast, small revolving loan products designed for both consumption and production needs. The demand for these remains strong, evidenced by the total loans facilitated in the third quarter of 2025 reaching RMB 20.2 billion. That's up 51% year-over-year from the RMB 13.4 billion facilitated in the third quarter of 2024. To give you a sense of the average ticket size, the average for a new loan from the Yixianghua lending platform grew by 44% to RMB 10,100 in Q3 2025. That's a concrete example of the product evolving.

Customer trust is a huge part of the value proposition, and the numbers back that up. The repeat borrowing rate has hit a record high of 77% in Q3 2025. Honestly, that figure shows deep customer stickiness; loans from repeat borrowers accounted for exactly 77% of the total loan volume facilitated in that quarter. This high rate is a direct result of focusing on higher-quality borrowers, which helps manage portfolio risk, even with delinquency rates like the 2.7% for 1 to 30 days past due as of September 30, 2025.

For the insurance side, Yiren Digital Ltd. is focused on seamless, low-cost digital insurance coverage delivered via existing channels. The internet insurance business is accelerating its growth. Annualized insurance premiums for these internet insurance products reached RMB 196.2 million (US$27.6 million) in the second quarter of 2025, representing a massive 204% increase from the prior quarter's RMB 64.5 million. Overall gross written premiums in Q3 2025 were RMB 1,148.0 million (US$161.3 million), showing a 35% sequential increase.

The comprehensive service suite aims for enhanced financial well-being. This is where the ancillary services really show up. Revenue from financial services, which makes up 92% of total net revenue in Q3 2025, grew 70% year-over-year to RMB 1,423.2 million (US$199.9 million). A key driver here is the loan guarantee service revenue, which hit RMB 458 million in Q3 2025, growing nearly 2.4x year-over-year.

Looking forward, Yiren Digital Ltd. is moving into institutional-grade crypto investment products via a new blockchain platform. This isn't just talk; the company started building its Web3 assets in the first quarter of 2025 by investing directly in Ethereum (ETH). As of June 30, 2025, the company held 11,197.5 Ethereum. They planned an initial functional release of the new crypto finance system by the end of October 2025, focusing on staking for selected users.

Here's a quick look at the core operational metrics driving these value propositions in the lending and insurance segments for Q3 2025:

Metric	Value (Q3 2025)	Context/Comparison
Total Loans Facilitated	RMB 20.2 billion	Up 51% Year-over-Year
Repeat Borrowing Rate	77%	Record High
Financial Service Revenue	RMB 1,423.2 million	Up 70% Year-over-Year
Loan Guarantee Revenue	RMB 458 million	Up nearly 2.4x Year-over-Year
Gross Written Insurance Premiums	RMB 1,148.0 million	Up 35% Quarter-over-Quarter
Internet Insurance Annualized Premiums	RMB 196.2 million	Up 204% Quarter-over-Quarter (Q2 2025)

The service suite also includes operational efficiencies driven by AI. For instance, AI-driven solutions improved response accuracy for customer service to over 92% and reduced service escalations by nearly 15% quarter-over-quarter in Q2 2025. That's how they keep the digital service costs down, helping to maintain the value proposition.

You should note the cash position as well; Yiren Digital Ltd. maintained a robust cash position of RMB 4 billion in cash equivalents and restricted cash as of Q3 2025. This financial flexibility supports the development of these new, high-tech value streams, defintely.

Finance: draft 13-week cash view by Friday.

Yiren Digital Ltd. (YRD) - Canvas Business Model: Customer Relationships

You're looking at how Yiren Digital Ltd. keeps its customers engaged and loyal in late 2025, which is heavily leaning on technology now.

Automated, AI-driven customer engagement and personalized marketing is the engine here. The push for efficiency and better targeting is clear in the Q3 2025 results. Management noted that AI-driven marketing expanded the high-intent user pool by a solid 38% quarter-over-quarter. Furthermore, the AI customer engagement systems drove a 15% boost in ATP engagement. This technology isn't just for marketing; the AI risk controls are now raising response accuracy to over 92%. To give you context on the scale of their digital service, their AI customer service system was handling over 30 million calls per month as of Q1 2025.

The high-touch service for traditional insurance brokerage is definitely scaling down, as the numbers show. Gross written premiums for the overall insurance brokerage business in Q3 2025 were RMB 1,148.0 million, which is a 15% decrease compared to the same period in 2024. This decline is part of a strategic shift, though the internet insurance side is exploding.

For digital self-service platforms for loan and insurance applications, the success is seen in the conversion and retention metrics rather than direct platform usage stats. The focus on digital channels is clearly working for the insurance side, where the internet insurance business saw its total customer number rise 93% quarter-over-quarter to reach 229,353 in Q3 2025. This digital push supports the core lending business where the average size for a new loan on the Yixianghua platform grew by 44% to RMB 10,100 in Q3 2025.

The focus on increasing long-term trust and stickiness with high-quality borrowers is paying off in loyalty metrics. Yiren Digital Ltd. achieved a record high repeat borrowing rate of 77% in Q3 2025. That's a significant 16 percentage points higher than the prior year, showing that the strategy of focusing on quality over sheer volume is building durable relationships. While the number of unique borrowers served in Q3 2025 decreased by 11% year-over-year to 1,335,978 due to policy tightening, the cumulative borrower base still grew by 21% year-on-year to 14,006,873 as of September 30, 2025.

Here are the key customer-related operational statistics from the latest reporting period:

Metric Category	Specific Metric	Value (Q3 2025)	Context/Comparison
Lending Customer Stickiness	Repeat Borrowing Rate	77%	Record high, 16 percentage points higher than prior year
Lending Customer Base	Number of Borrowers Served (Quarterly)	1,335,978	Down 11% year-over-year due to credit tightening
Lending Customer Base	Cumulative Borrowers Served	14,006,873	Up 21% year-over-year as of Sept 30, 2025
AI Engagement	AI Marketing High-Intent User Pool Expansion	38%	Quarter-over-quarter growth
AI Engagement	AI Response Accuracy	Over 92%	Driven by AI customer engagement and risk controls
Insurance Customer Growth	Internet Insurance Total Customer Number	229,353	Up 93% quarter-over-quarter

The relationship strategy is clearly bifurcated:

• Digital channels are optimized for scale and efficiency, evidenced by the 77% repeat borrowing rate.
• The older insurance brokerage segment is seeing contraction, with Q3 2025 Gross Written Premiums down 15% year-over-year.

The investment in technology underpins the entire relationship structure.

• Research and development expenses grew by 93% year-over-year in Q2 2025, reflecting focus on AI and engineering talent.
• The average loan size on the digital platform grew by 44% to RMB 10,100 in Q3 2025, suggesting better customer quality in the lending segment.

Yiren Digital Ltd. (YRD) - Canvas Business Model: Channels

You're looking at how Yiren Digital Ltd. (YRD) gets its services-primarily financial services and insurance-out to customers as of late 2025. The focus has clearly shifted, with the lifestyle segment being wound down in the fourth quarter of 2024, so the channels now heavily reflect financial and insurance distribution.

Core AI-powered online platform and mobile applications

The core channel is the AI-powered platform itself, which handles massive transaction volumes and customer interaction. This platform's efficiency is a key channel advantage. For instance, the AI customer service system handles over 30 million calls per month. The Risk Management Agent blocks over 30,000 high-risk accounts daily. The platform's efficiency is reflected in the origination, servicing and other operating costs, which decreased by 27% year-over-year to RMB 150 million in the third quarter of 2025, partly due to AI-driven collection efficiency. The platform's ability to retain customers is strong; in Q3 2025, 77% of the total loan-facilitated amount came from returning borrowers.

Here are some key operational metrics showing the scale of the AI-driven channel in Q3 2025:

Metric	Value	Context/Period
Total Loans Facilitated	RMB 20.2 billion (US$2.8 billion)	Q3 2025 (up 51% YoY)
Outstanding Balance of Performing Loans	RMB 34.2 billion (US$4.8 billion)	As of September 30, 2025 (up 10% QoQ)
Average Loan Approval Time	6 min	Platform Metric
Fraud Detection Accuracy (AI)	91%	Q3 2025

Direct digital marketing and new media customer acquisition

Yiren Digital Ltd. uses direct digital marketing, heavily augmented by AI, to bring in new users, though the focus is shifting toward repeat borrowers. Sales and marketing expenses in the third quarter of 2025 were RMB 332 million, showing a decrease of 1.2% year-over-year, even as loan facilitation increased by 51%. This suggests better efficiency in customer acquisition. The AI personalized Marketing Agent reaches an average of 20,000 to 600,000 users daily. To be fair, the average customer acquisition cost had already decreased by 18% Quarter-over-Quarter in Q2 2025.

• AI-generated marketing & video pieces: 200+.
• Total customer number (across Internet Insurance segment) reached 229,353 in Q3 2025.
• Number of borrowers served decreased by 11% year-over-year in Q3 2025 to 1,335,978 due to tightened credit policy.

Integrated channels with partnership platforms (travel, lifestyle)

The integration with lifestyle partners is diminishing as a primary channel. Yiren Digital Ltd. announced it was decommissioning the Consumers and Lifestyle segment in the fourth quarter of 2024. Consequently, revenue from this segment declined, which partially offset the growth in the Financial Services segment in Q3 2025. The company is concentrating on core financial services.

Dedicated digital insurance sales channel leveraging existing user base

This is a significant growth channel, explicitly designed to use the existing financial services user base with virtually no additional customer acquisition costs. The Internet Insurance business showed explosive growth in Q3 2025, delivering RMB 196 million in annualized premium, which is 204% Quarter-over-Quarter growth. The total customer number for this segment grew 93% Quarter-over-Quarter to 229,353 in Q3 2025. The company emphasizes the low customer acquisition cost for this digital insurance line. However, the overall revenue from the insurance brokerage business was RMB 84.2 million (US$11.8 million) in Q3 2025, a 2% decrease from the same period in 2024.

International business expansion into Southeast Asia and other markets

Yiren Digital Ltd. is actively expanding its channels internationally, focusing on Southeast Asia. The Indonesian operations officially launched in September 2025. The company expects this international segment to contribute significant growth in 2026. This overseas growth, alongside the Internet insurance segment, is projected to drive higher revenue growth in the coming quarters. The company projects Q4 2025 total revenue between RMB 1.4 billion and RMB 1.6 billion, driven by growth from both the domestic market and international markets.

Finance: draft 13-week cash view by Friday.

Yiren Digital Ltd. (YRD) - Canvas Business Model: Customer Segments

You're looking at the core of Yiren Digital Ltd.'s (YRD) strategy right now: who they are choosing to serve. It's a clear pivot toward quality over sheer volume, which is smart given the current regulatory environment.

The focus on higher credit quality borrowers is definitely paying off in transaction size. This strategic shift is directly reflected in the average loan size, which reached RMB 10,100 by the third quarter of 2025, up significantly from the RMB8k average seen in the second quarter of 2025. That's a substantial increase in the average ticket size, showing they are successfully attracting and serving customers with stronger repayment capabilities. This move is key to managing risk, especially as delinquency rates for loans past due 61-90 days stood at 1.4% as of September 30, 2025.

Retention is another massive driver for Yiren Digital Ltd. The existing repeat borrowers are the backbone of the financial services business. For the second quarter of 2025, these established customers accounted for 77% of the total loan volume. This high rate was maintained into the third quarter of 2025, also sitting at 77%, which is a 21 percentage point year-over-year increase from Q2 2024, showing strong customer stickiness.

The primary customer base remains individuals, families, and businesses across China who need digital financial services. Management has identified a potential borrower pool of 734 million high-quality individuals, defined as those with stable income or self-employed status, that Yiren Digital Ltd. is targeting domestically. They use a digital-first approach, leveraging over 40 outbound channels to reach these users.

Anyway, Yiren Digital Ltd. isn't just staying put in the domestic market. They are actively targeting new customer segments through international expansion. The company successfully launched its Indonesian operations, which management expects to contribute significant growth starting in 2026. This international push is part of broadening the traffic channel mix and finding new growth vectors outside of the core market.

Here's a quick look at how the borrower base metrics stack up across the recent quarters:

Metric	Q2 2025	Q3 2025
Total Borrowers Served	1,637,912	1,335,978
Repeat Borrowers (% of Loan Volume)	77%	77%
Average Loan Size	RMB8,000	RMB 10,100
D61-90 Delinquency Rate	1.0%	1.4%

You can see the trade-off: total borrowers served dropped year-over-year in Q3 2025, but the average loan size jumped, which is the intended outcome of their credit policy tightening. The company is essentially pruning the lower-quality end of its user base.

The key customer characteristics Yiren Digital Ltd. targets include:

• High-quality borrowers with stable income or self-employed status.
• Users aged mainly between 25-40 years old.
• Customers seeking revolving loans ranging from RMB 4k up to RMB 200k.
• Borrowers who benefit from flexible repayment options over 3, 6, 9, or 12 months.

Finance: draft the 13-week cash view by Friday.

Yiren Digital Ltd. (YRD) - Canvas Business Model: Cost Structure

You're looking at the cost side of Yiren Digital Ltd. (YRD)'s engine as of late 2025, focusing on what's eating into the revenue from that strong financial services segment. Honestly, the biggest immediate hit comes from managing risk exposure, which is natural given the growth in the risk-taking model.

The Significant provision for contingent liability, which hit RMB 459.8 million in Q3 2025, is a major cost driver, up substantially from RMB 272.4 million in Q3 2024. This increase is directly attributable to the higher loan volume facilitated under the risk-taking model. That's a concrete number you need to track closely.

Here's a quick look at some of the key operating expenses for the third quarter of 2025 compared to the prior year period:

Cost Category	Q3 2025 Amount (RMB Million)	Q3 2024 Amount (RMB Million)
Provision for Contingent Liabilities	459.8	272.4
Sales and Marketing Expenses	331.8	335.6
Research and Development Expenses	91.5	150.8
General and Administrative Expenses	104.4	80.1

You can see the investment in technology is shifting. Technology and R&D expenses for AI and next-gen fintech development were reported at RMB 91.5 million in Q3 2025. That's down from RMB 150.8 million in Q3 2024, which the company attributed to a one-off system development project wrapping up in 2024. Still, maintaining that AI edge is a constant spend.

Regarding staffing, Personnel-related costs are embedded within the General and Administrative line. G&A expenses rose to RMB 104.4 million in Q3 2025, up from RMB 80.1 million the year prior. The company specifically cited this increase was primarily due to an increase in personnel related costs to strengthen risk management and fund the plan for new business initiatives. That signals a strategic cost shift toward compliance and expansion personnel.

For capital structure costs, the data point you need to monitor is the increase in Funding costs for loan capital, which rose by 55 basis points in Q3 2025. This reflects the higher cost of securing the capital needed to support the growing outstanding balance of performing loans facilitated, which reached RMB 34.2 billion as of September 30, 2025.

Finally, look at how customer acquisition spend is tracking against volume:

• Sales and marketing expenses were RMB 331.8 million in Q3 2025, slightly down from RMB 335.6 million in Q3 2024.
• This spend supported a total loan facilitation volume of RMB 20.3 billion in Q2 2025, showing efficiency improvements or a shift in marketing focus.
• Origination, servicing and other operating costs decreased to RMB 149.9 million in Q3 2025 from RMB 205.9 million in Q3 2024.
• The decrease in origination costs was primarily due to a 27% decrease in origination and service expense from the financial services segment.

Finance: draft 13-week cash view by Friday.

Yiren Digital Ltd. (YRD) - Canvas Business Model: Revenue Streams

You're looking at the engine room of Yiren Digital Ltd.'s value capture, and honestly, the numbers from Q3 2025 tell a clear story about where the money is coming from right now. The core is definitely the lending side, but the insurance business is showing some interesting momentum, especially the internet-focused part.

The Financial Services revenue is the main driver, plain and simple. For the third quarter of 2025, this segment brought in RMB 1,423.2 million. To put that in perspective, that figure accounted for 92% of the total net revenue for the quarter, which itself was RMB 1,555.0 million. That growth in financial services revenue was a staggering 70% year-over-year, fueled by persistent demand for their small revolving loan products and a very high repeat borrowing rate, which hit 77%.

The revenue generation within Financial Services comes from a few key areas. You've got the standard loan facilitation service fees, which are directly tied to the RMB 20.2 billion in total loans facilitated during Q3 2025. Then there's the guarantee service revenue; the increase in self-funded loan balance meant that financing receivables, which include these components, jumped significantly.

We also need to account for the revenue tied to risk. The company noted that provisions for contingent liabilities-which are required for loans under the risk-taking model-increased to RMB 459.8 million in Q3 2025. This provision increase directly relates to the higher loan volume facilitated under that specific risk-taking model, meaning the fees earned from taking on that risk are a component of the overall financial services income.

Here's a quick breakdown of the top-line revenue components for Q3 2025, so you can see the relative scale:

Revenue Component	Q3 2025 Amount (RMB)	Context/Driver
Financial Services Revenue	1,423.2 million	Core driver; 70% YoY growth; driven by small revolving loans.
Insurance Segment Revenue	84.2 million	Up 45% quarter-on-quarter, though still slightly down year-on-year.
Total Net Revenue	1,555.0 million	Total for the quarter; 5.1% increase year-over-year.

Now, let's look closer at the Insurance Brokerage Business. While the revenue from this segment was RMB 84.2 million in Q3 2025, the gross written premiums were much larger at RMB 1,148.0 million. The real story here is the Internet Insurance line. This is where the future growth is being primed, and you can see the acceleration:

• Annualized insurance premiums for internet insurance products hit RMB 196.2 million in Q3 2025.
• That represents a massive 204% quarter-over-quarter growth.
• The total customer number in this internet segment grew 93% quarter-over-quarter to 229,353.

Finally, you're right to ask about digital assets. Yiren Digital Ltd. is definitely positioning for this. While it hasn't translated into Q3 2025 revenue yet, the strategic move is clear. They signed an MOU with ChainUp and are actively planning to launch an Ethereum staking service. This signals a clear intent to build out future revenue streams from digital asset and blockchain services, moving beyond just lending and traditional insurance brokerage.

Finance: draft 13-week cash view by Friday.