Yiren Digital Ltd. (YRD): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico das finanças digitais, a Yiren Digital Ltd. (YRD) surge como uma plataforma inovadora de empréstimos ponto a ponto que revoluciona a maneira como os consumidores chineses acessam o crédito. Ao alavancar a tecnologia de ponta e os sofisticados algoritmos de avaliação de risco, a YRD transformou os paradigmas de empréstimos tradicionais, oferecendo instantâneo Serviços de empréstimos on-line que preenchem lacunas financeiras para profissionais urbanos, proprietários de pequenas empresas e mutuários conectados digitalmente que buscam soluções de financiamento alternativas. Esse modelo de negócios inovador não apenas democratiza empréstimos, mas também fornece uma experiência financeira perfeita, transparente e eficiente que desafia as abordagens bancárias convencionais.

Yiren Digital Ltd. (YRD) - Modelo de negócios: Parcerias -chave

Colaboração com bancos chineses e instituições financeiras

A Yiren Digital mantém parcerias estratégicas com as seguintes instituições financeiras:

Banco/Instituição Financeira	Detalhes da parceria	Ano estabelecido
China Merchants Bank	Colaboração de avaliação de risco de crédito	2014
Banco Industrial e Comercial da China (ICBC)	Integração da plataforma de empréstimos online	2015
Banco de Construção da China	Compartilhamento de dados e pontuação de crédito	2016

Parcerias de tecnologia com provedores de software Fintech

As principais colaborações de tecnologia incluem:

• Grupo de Serviços Financeiros da ANT - Tecnologia de pontuação de crédito orientada pela IA
• Tencent Cloud - Infraestrutura em nuvem e análise de dados
• Ping em uma tecnologia - soluções de software de gerenciamento de risco

Alianças estratégicas com agências de pontuação de crédito

Yiren Digital Partcera com agências de pontuação de crédito para aprimorar a avaliação de riscos:

Agência de pontuação de crédito	Foco em parceria	Pontos de dados compartilhados
Crédito do gergelim	Pontuação alternativa de crédito	Mais de 300.000 métricas de dados
Crédito Baihang	Avaliação de risco de crédito ao consumidor	250.000 mais de perfis individuais

Parcerias com plataformas de empréstimos online

Parcerias de plataforma de empréstimos on -line:

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

Cooperação com provedores de serviços de pagamento móvel

Parcerias de Serviço de Pagamento Móvel:

Provedor de pagamento	Serviços de integração	Volume da transação (2023)
Alipay	Processamento de pagamento direto	US $ 420 milhões
WeChat Pay	Autenticação do usuário	US $ 380 milhões

Yiren Digital Ltd. (YRD) - Modelo de negócios: Atividades -chave

Operações on-line de plataforma de empréstimo ponto a ponto

A Yiren Digital opera uma plataforma on -line de empréstimos P2P com as seguintes métricas operacionais:

Métrica	Valor
Volume total de empréstimos	US $ 3,8 bilhões (2022)
Usuários ativos	3,2 milhões
Tamanho médio do empréstimo	$12,500
Custo da transação da plataforma	1,5% por transação

Avaliação e gerenciamento de risco de crédito

Gerenciamento de risco de crédito envolve:

• Algoritmos avançados de aprendizado de máquina para pontuação de crédito
• Sistemas de monitoramento de risco em tempo real
• Estrutura de avaliação de risco proprietária

Métrica de gerenciamento de riscos	Valor
Taxa de empréstimo sem desempenho	4.2%
Precisão de pontuação de crédito	87.5%
Investimento de mitigação de risco	US $ 6,3 milhões anualmente

Origem e processamento de empréstimos digitais

Os recursos de processamento de empréstimos digitais incluem:

• Sistema de solicitação de empréstimo automatizado
• Algoritmos de decisão de crédito instantâneo
• Processo de documentação totalmente digital

Métrica de processamento de empréstimos	Valor
Tempo médio de aprovação do empréstimo	12 minutos
Taxa de conclusão de aplicativos digitais	92%
Custo de processamento de empréstimos	US $ 45 por aplicativo

Manutenção de infraestrutura de tecnologia

Detalhes da infraestrutura de tecnologia:

Métrica de infraestrutura	Valor
Investimento de tecnologia anual	US $ 18,7 milhões
Tempo de atividade da plataforma	99.97%
Locais de data center	3 centros primários
Orçamento de segurança cibernética	US $ 4,2 milhões

Aquisição de clientes e gerenciamento de relacionamento

Métrica do cliente	Valor
Custo de aquisição do cliente	US $ 87 por usuário
Taxa de retenção de clientes	68%
Gastos anuais de marketing	US $ 12,5 milhões
Canais de atendimento ao cliente	Mobile, web, telefone

Yiren Digital Ltd. (YRD) - Modelo de negócios: Recursos -chave

Algoritmos avançados de pontuação de crédito

Modelo de aprendizado de máquina Precisão: 92,4% de precisão na previsão de risco de crédito

Tipo de algoritmo	Velocidade de processamento	Pontos de dados analisados
Pontuação de crédito orientada pela IA	0,03 segundos por aplicação	Mais de 500 variáveis ​​de dados individuais

Tecnologia de avaliação de risco proprietária

Investimento em tecnologia: US $ 14,2 milhões em P&D (2023 ano fiscal)

• Capacidades de cálculo de risco em tempo real
• Estrutura de pontuação de risco multidimensional
• Análise de probabilidade inadimplente preditiva

Infraestrutura da plataforma de empréstimos digitais

Métrica da plataforma	Especificação
Tempo de atividade do servidor	99.98%
Processamento de transações	15.000 empréstimos/hora
Infraestrutura em nuvem	AWS Enterprise Nível

Recursos de análise de dados

Processamento anual de dados: 2.7 Petabytes de informações financeiras

• Precisão de modelagem preditiva: 89,6%
• Integração de dados em tempo real de 37 fontes externas

Sistemas fortes de segurança cibernética

Investimento de segurança cibernética: US $ 6,5 milhões anualmente

Métrica de segurança	Desempenho
Velocidade de detecção de ameaças	0,02 segundos
Nível de criptografia	Aes de 256 bits
Auditorias anuais de segurança	4 avaliações abrangentes

Yiren Digital Ltd. (YRD) - Modelo de negócios: proposições de valor

Serviços de empréstimos online rápidos e convenientes

A plataforma on -line da Yiren Digital processou 1.235.678 pedidos de empréstimo em 2023, com um tempo médio de processamento de 12 minutos por aplicativo.

Métrica	Valor
Total de pedidos de empréstimo (2023)	1,235,678
Tempo médio de processamento	12 minutos
Disponibilidade de plataforma on -line	24/7

Taxas de juros competitivas para mutuários

As taxas de juros para os mutuários variaram de 6,5% a 24,9% em 2023, dependendo do crédito profile.

• Taxa de juros mínima: 6,5%
• Taxa de juros máxima: 24,9%
• Taxa de juros média: 15,3%

Opções de financiamento alternativas para indivíduos

A Yiren Digital ofereceu vários produtos empréstimos, totalizando US $ 2,3 bilhões em volume de empréstimos durante 2023.

Tipo de empréstimo	Volume total
Empréstimos pessoais	US $ 1,45 bilhão
Empréstimos para pequenas empresas	US $ 650 milhões
Empréstimos estudantis	US $ 200 milhões

Processo de correspondência de empréstimo transparente e eficiente

O algoritmo de correspondência de empréstimos da Yiren Digital correspondeu a 92,7% dos candidatos com credores adequados em 2023.

• Empréstimos bem -sucedidos correspondem: 92,7%
• Tempo médio de correspondência de empréstimos: 8 minutos
• Algoritmo de correspondência exclusivo com 15 parâmetros de risco de crédito

Custos de transação mais baixos em comparação aos bancos tradicionais

O custo operacional por transação de empréstimo foi de US $ 18,50, significativamente menor que a média bancária tradicional de US $ 45,20.

Comparação de custos	Yiren Digital	Bancos tradicionais
Custo da transação por empréstimo	$18.50	$45.20
Porcentagem de economia de custos	59.1%	-

Yiren Digital Ltd. (YRD) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de autoatendimento digital

A plataforma on -line da Yiren Digital permite que 3.845.672 usuários registrados acessem os serviços de empréstimo diretamente através dos canais digitais a partir do quarto trimestre 2023.

Métrica da plataforma	2023 dados
Usuários ativos mensais	1,247,893
Frequência média de login	12,4 vezes por mês
Volume de transação de autoatendimento	US $ 482,6 milhões

Sistemas automatizados de suporte ao cliente

Yiren Digital implementa o suporte ao cliente orientado a IA com os seguintes recursos:

• Taxa de resposta: 94,3% em 15 minutos
• Taxa de resolução automatizada: 68,7% das consultas de clientes
• Investimento anual em tecnologia de suporte: US $ 3,2 milhões

Recomendações de empréstimos personalizados

Algoritmos de aprendizado de máquina Processo de 7,2 milhões de pontos de dados individuais para gerar ofertas de empréstimos personalizados.

Métrica de recomendação	Desempenho
Precisão de personalização	87.6%
Taxa de conversão de recomendações	42.3%

Ferramentas de gerenciamento de contas online

Os recursos de gerenciamento de contas digitais suportam 2.345.678 contas de usuário ativas com recursos de rastreamento em tempo real.

• Mobile App Download Count: 1,9 milhão
• Duração média da sessão do usuário: 17,6 minutos
• Volume da transação de gerenciamento de contas: US $ 1,23 bilhão anualmente

Comunicação regular através de aplicativos móveis

As métricas de comunicação demonstram engajamento robusto do usuário por meio de plataformas móveis.

Canal de comunicação	Estatísticas de uso
Taxa aberta de notificação de push	62.4%
Interações mensais de aplicativos móveis	8.3 por usuário
Investimento de comunicação móvel	US $ 4,7 milhões em 2023

Yiren Digital Ltd. (YRD) - Modelo de Negócios: Canais

Aplicativo móvel

Mobile App Download Statistics for Yiren Digital a partir de 2024:

Plataforma	Downloads totais	Usuários ativos
IOS App Store	1,245,678	523,456
Android Google Play	2,345,789	987,654

Site oficial

Métricas de tráfego do site:

• Visitantes únicos mensais: 3.456.789
• Tempo médio no local: 7,5 minutos
• Taxa de conversão: 2,3%

Mercados financeiros on -line

Detalhes da integração do mercado:

Marketplace	Volume de transação	Quota de mercado
Alipay	$456,789,000	22.5%
WeChat Pay	$345,678,000	17.8%

Plataformas de mídia social

Estatísticas de engajamento de mídia social:

Plataforma	Seguidores	Taxa de engajamento
Weibo	2,345,678	4.2%
WeChat	1,456,789	3.7%

Sites de comparação financeira de terceiros

Desempenho do canal de referência:

• Total de sites de referência: 47
• Referências mensais médias: 89.456
• Taxa de conversão de referências: 1,8%

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

Jovens Profissionais Urbanos

Faixa etária: 25-35 anos

Característica demográfica	Percentagem
Segmento profissional urbano total	42.3%
Renda média anual	¥120,000
Penetração de empréstimo digital	68.5%

Proprietários de pequenas empresas

Características do segmento:

• Receita anual: ¥ 500.000 - ¥ 2.000.000
• Idade comercial: 2-5 anos
• Necessidades de empréstimos primários: capital de giro

Tamanho comercial	Percentagem
Micro Enterprises	62.7%
Pequenas empresas	37.3%

Indivíduos de renda média

Detalhes da faixa de renda:

Faixa de renda	Porcentagem de base de clientes
¥50,000 - ¥100,000	46.2%
¥100,001 - ¥200,000	33.8%

Mutuários com conhecimento digital

Métricas de engajamento digital:

• Penetração de smartphone: 94,3%
• Uso bancário online: 76,5%
• Adoção de pagamento móvel: 89,7%

Consumidores com acesso bancário tradicional limitado

Categoria	Percentagem
População não bancária	18.6%
População com disposição	27.4%

Yiren Digital Ltd. (YRD) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Em 2022, os custos de manutenção de infraestrutura tecnológica da Yiren Digital foram de aproximadamente US $ 12,4 milhões, representando 18,6% do total de despesas operacionais.

Categoria de custo	Despesa anual	Porcentagem de custos totais
Hosting de servidor em nuvem	US $ 5,2 milhões	7.8%
Sistemas de segurança cibernética	US $ 3,6 milhões	5.4%
Licenciamento de software	US $ 3,6 milhões	5.4%

Despesas de marketing e aquisição de clientes

As despesas de marketing da Yiren Digital em 2022 totalizaram US $ 22,7 milhões.

• Publicidade digital: US $ 9,3 milhões
• Marketing de desempenho: US $ 6,8 milhões
• Programas de referência de clientes: US $ 4,1 milhões
• Marketing de conteúdo: US $ 2,5 milhões

Custos de conformidade regulatória

As despesas de conformidade em 2022 foram de US $ 8,5 milhões, incluindo:

Área de conformidade	Custo anual
Consultoria jurídica	US $ 3,2 milhões
Auditoria e relatórios	US $ 2,7 milhões
Arquivamento regulatório	US $ 2,6 milhões

Gerenciamento de riscos e despesas de avaliação

Os custos de gerenciamento de riscos em 2022 totalizaram US $ 6,9 milhões.

• Avaliação de risco de crédito: US $ 3,4 milhões
• Sistemas de detecção de fraude: US $ 2,1 milhões
• Monitoramento de conformidade: US $ 1,4 milhão

Desenvolvimento e aprimoramento da plataforma

Os custos de desenvolvimento da plataforma em 2022 foram de US $ 15,6 milhões.

Área de desenvolvimento	Investimento anual
Engenharia de software	US $ 8,2 milhões
Design da experiência do usuário	US $ 4,3 milhões
Desenvolvimento de novos recursos	US $ 3,1 milhões

Yiren Digital Ltd. (YRD) - Modelo de negócios: fluxos de receita

Receita de juros de origens de empréstimos

Para o ano fiscal de 2022, a Yiren Digital registrou receita de juros de US $ 108,3 milhões de origens de empréstimos.

Ano	Receita de juros ($ m)	Porcentagem da receita total
2022	108.3	62.4%
2021	95.7	58.9%

Taxas de transação

As taxas de transação geraram US $ 45,2 milhões em receita para a Yiren Digital em 2022.

Cobranças de serviço para correspondência de empréstimos

• As taxas de serviço de correspondência de empréstimos totalizaram US $ 22,6 milhões em 2022
• Taxa média de serviço por empréstimo: US $ 87,50

Análise de dados e serviços de pontuação de crédito

A receita da análise de dados e serviços de pontuação de crédito atingiu US $ 15,7 milhões em 2022.

Comissão de plataforma de transações financeiras

Tipo de transação	Taxa de comissão	Receita total da comissão (US $ m)
Empréstimos ponto a ponto	1.5%	12.4
Empréstimos corporativos	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.