Yiren Digital Ltd. (NYSE:YRD) Q1 2023 Earnings Call Transcript

Unidentified Analyst: Okay. Because the stock price is so low, you don’t even have to be that sensitive to stock price. I mean, you could pay up to $3 or $4 a share. If you just put a bid in the market for 5 million shares, it would not only alert the investment community that there’s a serious buyer but it would be very accretive to use since your book value is many times where it’s trading at. So it’s a plus-plus. I mean, with all the money you have, I can’t imagine there’s too many better investments than your own stock.

Na Mei: Yes. I know you’re concern and thank you for your comments. And I’ll ask Mei Zhao — some more final information to — about why — how we perform our share type offers because every day the company can’t perform like this, shares amount is based on the U.S. regulator. So as we operate with our broker — actually, we have now, as you mentioned previously payback, we have arithmetic about our share purchase. So as a communication with our broker, of course our performance shall payback based on the regular top, top. Yes, we have paid — we have purchased the largest amount according to the — this year. So we’re now going to seriously to pay back debts because we must comply the rule basic. We have limited amount every day we can purchase from the, market, yes.

Unidentified Analyst: Okay. Yes, I know you’re constricted by volume. But all right, listen, keep up the good work. I think you just got to get the message out to more investors because, again, AI is a marketing tool by many companies, but you guys have been using some form of AI for years. That’s how you make your credit decisions by using algorithms and things like that. So, I think you should promote it because it’s valid and make it very clear that you’ve doubled your earnings year-over-year and that you have complete upside. And I think that a news release such as that would generate some interest here. So thank you for your time and keep up the good work.

Ning Tang: Thank you for the advice.

Operator: Thank you. There are no further questions at this time. That does conclude our conference for today. Thank you for participating. You may now disconnect.