Six months after the implementation of new lending assistance regulations, several lending platforms are experiencing a decline in loan disbursement volume and profits in Q4 2025.

【Caixin Network】 With the official implementation of new rules for consumer lending and loan facilitation, along with a slowdown in demand for consumer credit, multiple consumer-loan and loan-facilitation platforms in the fourth quarter of 2025 showed a consistent pattern: year-over-year revenue and loan origination volumes declined, while net profit fell sharply. As loan-facilitation business enters a period of reduced volume, each company is seeking a second growth curve such as “going global” and investing in the “crypto market.”

Recently, seven loan-facilitation platforms listed in the United States and Hong Kong successively released their 2025 financial reports, including the operator of “Qifu Borrowing Note,” Qifu Technology (formerly 360 Digitech, 03660.HK); the operator of “Jiebei Le,” Lexin (LX.NASDAQ); the parent company of “Paipaidai,” Xin Ye Technology (FINV.NYSE); the parent company of “Xiaoying Card Loan,” Xiaoying Technology (XYF.NYSE); the parent company of “Niwoidai,” Jiayin Technology (JFIN.NASDAQ); the parent company of “Yixianghua,” Yiren Zhike (YRD.NYSE); and the operator of “Doudouqian,” Wei Xin Jin Ke (02003.HK).