Technology
Yiren Digital Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Published
1 year agoon
By
BEIJING, March 20, 2025 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced its unaudited financial results for the quarter ended December 31, 2024.
Fourth Quarter 2024 and Fiscal Year 2024 Operational Highlights
Financial Services Business
Total loans facilitated in the fourth quarter of 2024 reached RMB15.4 billion (US$2.1 billion), representing an increase of 14.6% from RMB13.4 billion in the third quarter of 2024 and compared to RMB11.6 billion in the same period of 2023.Cumulative number of borrowers served reached 12,350,400 as of December 31, 2024, representing an increase of 6.4% from 11,611,899 as of September 30, 2024, and compared to 9,295,666 as of December 31, 2023.Number of borrowers served in the fourth quarter of 2024 was 1,560,789, representing an increase of 4.2% from 1,498,020 in the third quarter of 2024 and compared to 1,371,501 in the same period of 2023. As we successfully enhance our customer segments, the repeat rate of our high-quality borrowers continues to grow. For the fiscal year of 2024, total number of borrowers served was 4,187,502, compared to 2,891,901 in 2023.Outstanding balance of performing loans facilitated reached RMB24.8 billion (US$3.4 billion) as of December 31, 2024, representing an increase of 8.7% from RMB22.8 billion as of September 30, 2024 and compared to RMB18.3 billion as of December 31, 2023.
Insurance Brokerage Business
Cumulative number of insurance clients served reached 1,532,119 as of December 31, 2024, representing an increase of 4.2% from 1,470,738 as of September 30, 2024, and compared to 1,283,102 as of December 31, 2023.Number of insurance clients served in the fourth quarter of 2024 was 83,786, representing an increase of 1.8% from 82,291 in the third quarter of 2024, and compared to 102,556 in the same period of 2023. Total number of insurance clients served was 296,842 in 2024, compared to 358,278 in 2023. The decrease was due to the decline in new sales of our insurance products amid regulatory changes.Gross written premiums in the fourth quarter of 2024 were RMB1,100.3 million (US$150.7 million), representing a decrease of 18.6% from RMB1,351.3 million in the third quarter of 2024 and compared to RMB1,208.7 million in the same period of 2023. The decrease was attributed to the ongoing impact of regulatory changes and tightening measures. Total gross written premiums were RMB4,424.9 million in 2024, compared to RMB4,893.0 million in 2023.
“We closed out the year on a strong note, delivering another solid quarter of results that were in line with our previous guidance.” said Mr. Ning Tang, Chairman and Chief Executive Officer.
“2024 marked a milestone for us with several key achievements: First, we upgraded our customer segments in the financial services business, effectively improving asset quality for sustainable growth. Second, we advanced our proprietary AI systems and integrated them across all operations, driving significant improvements in efficiency and user experience. Third, our international business met its phased objectives and achieved profitability, driven by our successful expansion in the Philippines. These successes set the foundation for our long-term, high-quality growth in the coming year.”
“The year 2024 has been a strong one, with solid financial performance, as full-year revenue grew by 19%,” Mr. Yuning Feng, Chief Financial Officer commented. “On the balance sheet side, as of the end of 2024, our cash and cash equivalents remained strong at RMB3.8 billion, highlighting our financial flexibility and positioning us to capitalize on strategic opportunities. Meanwhile, we are pleased to announce a cash dividend distribution for the second half of 2024, amounting to US$0.22 per American depositary share (the”ADS”), an approximately 20% payout ratio, up from 14% for the first half of 2024.”
Fourth Quarter 2024 Financial Results
Total net revenue in the fourth quarter of 2024 was RMB1,452.2 million (US$199.0 million), representing an increase of 14.0% from RMB1,274.3 million in the fourth quarter of 2023. Particularly, in the fourth quarter of 2024, revenue from financial services business was RMB1,047.8 million (US$143.5 million), representing an increase of 34.1% from RMB781.3 million in the same period of 2023. The increase was attributed to the persistent and growing demand for our small revolving loan products. Revenue from insurance brokerage business was RMB106.4 million (US$14.6 million), representing an increase of 8.4% from RMB98.2 million in the fourth quarter of 2023. The increase was driven by a higher-than-expected premium renewal rate. Revenue from consumption and lifestyle business and others was RMB298.0 million (US$40.8 million), representing a decrease of 24.5% from RMB394.8 million in the fourth quarter of 2023. The decrease was mainly due to the already high penetration of our products and services within the existing customer pool, along with our strategic scale-back of product offerings as we upgrade our customer segment. The Company is conducting a strategic review of this segment to better understand its potential and identify the best ways to serve our customers. Based on the findings, we will adjust our approach and offerings to ensure we effectively meet their needs.
Sales and marketing expenses in the fourth quarter of 2024 were RMB298.5 million (US$40.9 million), compared to RMB205.7 million in the same period of 2023. The increase was primarily driven by the swift growth of our financial services segment and enhanced marketing endeavors aimed at attracting new, high-caliber customers while optimizing our customer composition.
Origination, servicing and other operating costs in the fourth quarter of 2024 were RMB197.2 million (US$27.0 million), which remained relatively stable compared to RMB184.7 million in the same period of 2023.
Research and development expenses in the fourth quarter of 2024 were RMB164.7 million (US$22.6 million), compared to RMB47.6 million in the same period of 2023. The increase was mainly attributed to our ongoing investment in AI upgrades and technological innovations.
General and administrative expenses in the fourth quarter of 2024 were RMB42.2 million (US$5.8 million), compared to RMB50.5 million in the same period of 2023. The decrease was primarily due to ongoing investments in technology and AI, which have transformed the company’s personnel composition and improved operational efficiency.
Allowance for contract assets, receivables and others in the fourth quarter of 2024 was RMB203.1 million (US$27.8 million), compared to RMB100.2 million in the same period of 2023. The increase was mainly due to a higher allowance for accounts receivable and financing receivables, reflecting our prudent approach to the heightened uncertainties in future market conditions.
Provision for contingent liabilities in the fourth quarter of 2024 was RMB250.7 million (US$34.3 million), compared to a reversal of RMB1.5 million in the same period of 2023. The increase was mainly attributed to a growing volume of loans facilitated under our risk-taking model[1].
Income tax expense in the fourth quarter of 2024 was RMB10.7 million (US$1.5 million).
Net income in the fourth quarter of 2024 was RMB331.4 million (US$45.4 million), as compared to RMB571.3 million in the same period in 2023. The decrease was primarily due to the growing loan volume facilitated by our risk-taking model, which required substantial upfront provisions under current accounting principles, as well as increased investment in acquiring new, higher-quality borrowers and developing AI innovation and capabilities.
Adjusted EBITDA[2] (non-GAAP) in the fourth quarter of 2024 was RMB313.9 million (US$43.0 million), compared to RMB684.8 million in the same period of 2023.
Basic and diluted income per ADS in the fourth quarter of 2024 were RMB3.8 (US$0.5) and RMB3.8 (US$0.5) respectively, compared to a basic income per ADS of RMB6.5 and a diluted income per ADS of RMB6.5 in the same period of 2023.
Net cash generated from operating activities in the fourth quarter of 2024 was RMB373.0 million (US$51.1 million), compared to RMB417.2 million in the same period of 2023.
Net cash used in investing activities in the fourth quarter of 2024 was RMB32.9 million (US$4.5 million), compared to RMB260.3 million in the same period of 2023.
Net cash used in financing activities in the fourth quarter of 2024 was RMB114.3 million (US$15.7 million), compared to RMB332.3 million provided by financing activities in the same period of 2023.
As of December 31, 2024, cash and cash equivalents were RMB3,841.3 million (US$526.3 million), compared to RMB3,705.9 million as of September 30, 2024. As of December 31, 2024, the balance of held-to-maturity investments was RMB6.6 million (US$0.9 million), compared to RMB5.1 million as of September 30, 2024. As of December 31, 2024, the balance of available-for-sale investments was RMB353.2 million (US$48.4 million), compared to RMB321.6 million as of September 30, 2024. As of December 31, 2024, the balance of trading securities was RMB77.4 million (US$10.6 million), compared to RMB63.3 million as of September 30, 2024.
Delinquency rates[3]. As of December 31, 2024, the delinquency rates for loans that are past due for 1-30 days, 31-60 days and 61-90 days were 1.6%, 1.2% and 1.1%, respectively, compared to 1.8%, 1.2% and 1.2%, respectively, as of September 30, 2024.
Fiscal Year 2024 Financial Results
Total net revenue in 2024 was RMB5,805.9 million (US$795.4 million), compared to RMB4,895.6 million in 2023. Specifically, revenue from financial services business in 2024 was RMB3,473.1 million (US$475.8 million), compared to RMB2,515.1 million in 2023. The increase was driven by the growing demand for our small revolving loan products. Revenue from insurance brokerage business in 2024 was RMB408.4 million (US$55.9 million), compared to RMB963.8 million in 2023. The decrease was due to the ongoing impacts from regulatory changes. Revenue from consumption and lifestyle business and others was RMB1,924.4 million (US$263.6 million), compared to RMB1,416.7 million in 2023. The overall increase was mainly due to the continuous growth of this segment in the first half of the year, followed by a strategic scale-back in the second half.
Sales and marketing expenses in 2024 were RMB1,196.4 million (US$163.9 million), compared to RMB656.6 million in 2023. The increase was primarily due to our efforts to attract new, higher-quality borrowers and the growth of our financial services business volume.
Origination, servicing and other operating costs in 2024 were RMB883.0 million (US$121.0 million), compared to RMB976.2 million in 2023. The decrease was due to the AI-driven improvement of operational efficiency as well as the decline of our insurance product sales.
Research and development expenses in 2024 were RMB411.9 million (US$56.4 million), compared to RMB148.8 million in 2023. The significant increase was driven by our ongoing investment in AI development and the expansion of our technical team.
General and administrative expenses in 2024 were RMB274.7 million (US$37.6 million), which remained relatively stable compared to RMB231.1 million in 2023.
Allowance for contract assets, receivables and others in 2024 was RMB523.6 million (US$71.7 million), compared to RMB261.2 million in 2023. The increase was mainly due to a higher allowance for accounts receivable and financing receivables, reflecting our prudent approach to the heightened uncertainties in future market conditions.
Provision for contingent liabilities in 2024 was RMB869.3 million (US$119.1 million), compared to RMB27.0 million in 2023. The increase was mainly attributed to the growing loan volume facilitated under our risk-taking model where upfront provision is required under current accounting principles.
Income tax expense in 2024 was RMB279.2 million (US$38.2 million).
Net income in 2024 was RMB1,582.3 million (US$216.8 million), compared to RMB2,080.2 million in 2023.
Adjusted EBITDA (non-GAAP) in 2024 was RMB1,781.8 million (US$244.1 million), compared to RMB2,578.5 million in 2023.
Basic and diluted income per ADS in 2024 were RMB18.3 (US$2.5) and RMB18.1 (US$2.5) respectively, compared to a basic per ADS of RMB23.5 and a diluted per ADS of RMB23.3 in 2023.
Net cash generated from operating activities in 2024 was RMB1,424.1 million (US$195.1 million), compared to RMB2,171.0 million in 2023.
[1] The risk-taking model refers to the framework in which the company assumes the credit risk for the loans facilitated on our platform.
[2] “Adjusted EBITDA” is a non-GAAP financial measure. For more information on this non-GAAP financial measure, please see the section of “Operating Highlights and Reconciliations of GAAP to Non-GAAP Measures” and the table captioned “Reconciliations of Adjusted EBITDA” set forth at the end of this press release.
[3] “Delinquency rates” refers to the outstanding principal balance of loans that were 1-30 days, 31-60 days and 61-90 days past due as a percentage of the total performing outstanding principal balance of loans as of a specific date. Loans originating outside mainland China are not included in the calculation. We define a performing loan as one that is being repaid according to the agreed terms and has not become delinquent for more than 90 days.
Dividend Policy
Under the Company’s semi-annual dividend policy, the Company will distribute a cash dividend for the second half of 2024, amounting to US$0.22 per American depositary share (the “ADS”), each representing two ordinary shares of the Company, par value US$0.0001 per share. The dividend is expected to be paid on or about May 15, 2025 to holders of the Company’s ordinary shares and ADSs of record as of the close of business on April 30, 2025, based on Hong Kong time and New York time, respectively.
Business Outlook
Based on the Company’s preliminary assessment of business and market conditions, the Company projects the total revenue in the year of 2025 to be between RMB5.5 billion to RMB6.5 billion, with a healthy net profit margin.
This is the Company’s current and preliminary view, which is subject to changes and uncertainties.
Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses several non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin as supplemental measures to review and assess operating performance. We believe these non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and prospects and allow for greater visibility with respect to key metrics used by our management in our financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The non-GAAP financial measures have limitations as analytical tools. Other companies, including peer companies in the industry, may calculate these non-GAAP measures differently, which may reduce their usefulness as a comparative measure. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. See “Operating Highlights and Reconciliation of GAAP to Non-GAAP measures” at the end of this press release.
Currency Conversion
This announcement contains currency conversions of certain RMB amounts into US$ at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB7.2993 to US$1.00, the effective noon buying rate on December 31, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board.
Conference Call
Yiren Digital’s management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on March 20, 2025 (or 8:00 p.m. Beijing/Hong Kong Time on March 20, 2025).
Participants who wish to join the call should register online in advance of the conference at: https://dpregister.com/sreg/10197602/feaaa46216
Once registration is completed, participants will receive the dial-in details for the conference call.
Additionally, a live and archived webcast of the conference call will be available at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=NaB0pL6P
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yiren Digital’s control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to Yiren Digital’s ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital’s ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in Yiren Digital’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Yiren Digital does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About Yiren Digital
Yiren Digital Ltd. is an advanced, AI-powered platform providing a comprehensive suite of financial and lifestyle services in China. Our mission is to elevate customers’ financial well-being and enhance their quality of life by delivering digital financial services, tailor-made insurance solutions, and premium lifestyle services. We support clients at various growth stages, addressing financing needs arising from consumption and production activities, while aiming to augment the overall well-being and security of individuals, families, and businesses.
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except for share, per share and per ADS data, and percentages)
For the Three Months Ended
For the Year Ended
December 31,
2023
September 30,
2024
December 31,
2024
December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2024
RMB
RMB
RMB
USD
RMB
RMB
USD
Net revenue:
Loan facilitation services
722,451
600,899
748,663
102,566
2,240,852
2,721,389
372,829
Post-origination services
4,630
1,421
1,474
202
17,203
5,957
816
Insurance brokerage services
98,158
85,530
106,387
14,575
963,822
408,369
55,946
Financing services
8,564
31,448
31,551
4,323
55,974
93,239
12,774
Electronic commerce services
385,886
546,366
292,678
40,097
1,267,104
1,865,621
255,589
Guarantee services
8,590
136,746
206,766
28,327
50,865
429,299
58,814
Others
46,031
76,678
64,674
8,860
299,813
282,027
38,637
Total net revenue
1,274,310
1,479,088
1,452,193
198,950
4,895,633
5,805,901
795,405
Operating costs and expenses:
Sales and marketing
205,730
335,647
298,458
40,889
656,603
1,196,429
163,910
Origination,servicing and other operating costs
184,700
205,913
197,232
27,021
976,172
882,957
120,965
Research and development
47,586
150,840
164,703
22,564
148,754
411,876
56,427
General and administrative
50,512
80,097
42,232
5,786
231,135
274,673
37,629
Allowance for contract assets, receivables and others
100,229
94,913
203,090
27,823
261,152
523,622
71,736
Provision for contingent liabilities
(1,543)
272,406
250,691
34,344
27,035
869,280
119,091
Total operating costs and expenses
587,214
1,139,816
1,156,406
158,427
2,300,851
4,158,837
569,758
Other income/(expenses):
Interest income, net
29,880
21,877
31,219
4,277
80,749
105,477
14,450
Fair value adjustments related to Consolidated ABFE
(13,394)
36,423
16,935
2,320
(50,171)
107,532
14,732
Others, net
8,504
2,535
(1,353)
(186)
20,000
1,848
253
Total other income
24,990
60,835
46,801
6,411
50,578
214,857
29,435
Income before provision for income taxes
712,086
400,107
342,588
46,934
2,645,360
1,861,921
255,082
Share of results of equity investees
–
–
(440)
(60)
–
(440)
(60)
Income tax expense
140,818
44,665
10,702
1,466
565,163
279,182
38,248
Net income
571,268
355,442
331,446
45,408
2,080,197
1,582,299
216,774
Weighted average number of ordinary shares outstanding,
basic
175,445,539
175,018,644
172,723,644
172,723,644
176,749,706
173,256,348
173,256,348
Basic income per share
3.2561
2.0309
1.9189
0.2629
11.7692
9.1327
1.2512
Basic income per ADS
6.5122
4.0618
3.8378
0.5258
23.5384
18.2654
2.5024
Weighted average number of ordinary shares outstanding,
diluted
177,106,305
176,035,324
173,727,886
173,727,886
178,688,319
174,711,569
174,711,569
Diluted income per share
3.2256
2.0192
1.9078
0.2614
11.6415
9.0566
1.2408
Diluted income per ADS
6.4512
4.0384
3.8156
0.5228
23.2830
18.1132
2.4816
Unaudited Condensed Consolidated Cash Flow Data
Net cash generated from operating activities
417,232
50,393
373,038
51,106
2,171,013
1,424,082
195,098
Net cash (used in)/provided by investing activities
(260,331)
(1,859,587)
(32,948)
(4,514)
100,045
(3,113,115)
(426,495)
Net cash provided by/(used in) financing activities
332,309
(22,227)
(114,341)
(15,665)
(569,278)
(277,226)
(37,980)
Effect of foreign exchange rate changes
(6,414)
(6,252)
15,020
2,058
(3,871)
9,212
1,263
Net increase/(decrease) in cash, cash equivalents and
restricted cash
482,796
(1,837,673)
240,769
32,985
1,697,909
(1,957,047)
(268,114)
Cash, cash equivalents and restricted cash, beginning of
period
5,575,808
5,698,461
3,860,788
528,926
4,360,695
6,058,604
830,025
Cash, cash equivalents and restricted cash, end of period
6,058,604
3,860,788
4,101,557
561,911
6,058,604
4,101,557
561,911
Unaudited Condensed Consolidated Balance Sheets
(in thousands)
As of
December 31,
2023
September 30,
2024
December 31,
2024
December 31,
2024
RMB
RMB
RMB
USD
Cash and cash equivalents
5,791,333
3,705,866
3,841,284
526,254
Restricted cash
267,271
154,922
260,273
35,657
Trading securities
76,053
63,276
77,426
10,607
Accounts receivable
499,027
668,757
566,541
77,616
Guarantee receivable
2,890
391,547
474,132
64,956
Contract assets, net
978,051
916,543
1,008,920
138,221
Contract cost
32
279
294
40
Prepaid expenses and other assets
423,621
2,291,397
2,361,585
323,536
Loans at fair value
677,835
414,803
421,922
57,803
Financing receivables
116,164
28,672
17,515
2,400
Amounts due from related parties
820,181
3,338,868
3,387,952
464,148
Held-to-maturity investments
10,420
5,087
6,587
902
Available-for-sale investments
438,084
321,550
353,190
48,387
Equity investments
–
7,105
9,239
1,266
Property, equipment and software, net
79,158
80,224
78,678
10,779
Deferred tax assets
73,414
54,595
77,463
10,612
Right-of-use assets
23,382
14,454
39,695
5,438
Total assets
10,276,916
12,457,945
12,982,696
1,778,622
Accounts payable
30,902
42,712
43,167
5,912
Amounts due to related parties
14,414
96,498
129,629
17,759
Guarantee liabilities-stand ready
8,802
449,759
606,886
83,143
Guarantee liabilities-contingent
28,351
512,004
578,797
79,295
Deferred revenue
54,044
18,348
9,479
1,299
Payable to investors at fair value
445,762
350,000
368,022
50,419
Accrued expenses and other liabilities
1,463,369
1,672,111
1,622,050
222,220
Deferred tax liabilities
122,075
16,434
41,471
5,682
Lease liabilities
23,648
15,226
40,765
5,585
Total liabilities
2,191,367
3,173,092
3,440,266
471,314
Ordinary shares
130
132
132
18
Additional paid-in capital
5,171,232
5,198,271
5,198,457
712,186
Treasury stock
(94,851)
(160,534)
(170,463)
(23,353)
Accumulated other comprehensive
income
23,669
21,226
79,268
10,860
Retained earnings
2,985,369
4,225,758
4,435,036
607,597
Total equity
8,085,549
9,284,853
9,542,430
1,307,308
Total liabilities and equity
10,276,916
12,457,945
12,982,696
1,778,622
Operating Highlights and Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except for number of borrowers, number of insurance clients, cumulative number of insurance clients and percentages)
For the Three Months Ended
For the Year Ended
December 31,
2023
September 30,
2024
December 31,
2024
December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2024
RMB
RMB
RMB
USD
RMB
RMB
USD
Operating Highlights
Amount of loans facilitated
11,645,528
13,392,676
15,352,533
2,103,288
36,036,301
53,591,593
7,342,018
Number of borrowers
1,371,501
1,498,020
1,560,789
1,560,789
2,891,901
4,187,502
4,187,502
Remaining principal of performing loans
18,251,550
22,768,555
24,755,199
3,391,448
18,251,550
24,755,199
3,391,448
Cumulative number of insurance clients
1,283,102
1,470,738
1,532,119
1,532,119
1,283,102
1,532,119
1,532,119
Number of insurance clients
102,556
82,291
83,786
83,786
358,278
296,842
296,842
Gross written premiums
1,208,717
1,351,311
1,100,262
150,735
4,893,042
4,424,889
606,207
First year premium
536,252
511,377
475,285
65,114
3,180,334
2,078,190
284,711
Renewal premium
672,465
839,934
624,977
85,621
1,712,708
2,346,699
321,496
Segment Information
Financial services business:
Revenue
781,306
836,193
1,047,768
143,544
2,515,119
3,473,109
475,814
Sales and marketing expenses
186,304
307,459
290,253
39,765
498,055
1,102,737
151,074
Origination, servicing and other operating
costs
77,598
119,706
123,585
16,931
223,468
442,312
60,597
Allowance for contract assets, receivables and
others
99,496
93,248
200,755
27,503
262,607
519,895
71,225
Provision for contingent liabilities
(1,543)
272,406
250,691
34,344
27,035
869,280
119,091
Insurance brokerage business:
Revenue
98,158
85,530
106,387
14,575
963,822
408,369
55,946
Sales and marketing expenses
3,578
3,545
2,333
320
12,887
13,706
1,878
Origination, servicing and other operating
costs
98,019
78,466
69,518
9,524
697,669
407,225
55,790
Allowance for contract assets, receivables and
others
(35)
(414)
241
33
(390)
(663)
(91)
Consumption & lifestyle business and others:
Revenue
394,846
557,365
298,038
40,831
1,416,692
1,924,423
263,645
Sales and marketing expenses
15,848
24,643
5,872
804
145,661
79,986
10,958
Origination, servicing and other operating
costs
9,083
7,741
4,129
566
55,035
33,420
4,578
Allowance for contract assets, receivables and
others
774
1,666
(756)
(104)
(771)
908
124
Reconciliation of Adjusted EBITDA
Net income
571,268
355,442
331,446
45,408
2,080,197
1,582,299
216,774
Interest income, net
(29,880)
(21,877)
(31,219)
(4,277)
(80,749)
(105,477)
(14,450)
Income tax expense
140,818
44,665
10,702
1,466
565,163
279,182
38,248
Depreciation and amortization
1,806
2,401
2,574
353
7,116
8,893
1,218
Share-based compensation
828
13,235
350
48
6,751
16,928
2,319
Adjusted EBITDA
684,840
393,866
313,853
42,998
2,578,478
1,781,825
244,109
Adjusted EBITDA margin
53.7 %
26.6 %
21.6 %
21.6 %
52.7 %
30.7 %
30.7 %
Delinquency Rates
1-30 days
31-60 days
61-90 days
December 31, 2019
2.1 %
1.2 %
0.9 %
December 31, 2020
1.3 %
0.7 %
0.6 %
December 31, 2021
2.0 %
1.5 %
1.2 %
December 31, 2022
1.7 %
1.2 %
1.1 %
December 31, 2023
2.0 %
1.4 %
1.2 %
March 31, 2024
2.1 %
1.6 %
1.4 %
June 30, 2024
1.9 %
1.4 %
1.5 %
September 30, 2024
1.8 %
1.2 %
1.2 %
December 31, 2024
1.6 %
1.2 %
1.1 %
30+ Days Delinquency Rates By Vintage*
Loan
Issued
Period
Month on Book
2
4
6
8
10
12
14
16
18
20
22
24
2019Q1
0.0 %
0.5 %
1.6 %
2.3 %
3.3 %
4.4 %
5.9 %
6.1 %
6.4 %
6.9 %
6.9 %
6.9 %
2019Q2
0.3 %
1.4 %
2.8 %
5.0 %
7.8 %
8.9 %
9.5 %
10.0 %
10.3 %
10.7 %
10.9 %
11.2 %
2019Q3
0.3 %
2.0 %
5.1 %
7.6 %
9.1 %
10.4 %
11.3 %
12.4 %
13.3 %
14.1 %
14.7 %
15.2 %
2019Q4
0.7 %
3.0 %
4.4 %
5.7 %
6.6 %
7.3 %
8.1 %
8.5 %
9.0 %
9.4 %
9.7 %
10.3 %
2020Q1
0.8 %
2.0 %
3.4 %
4.5 %
5.4 %
5.9 %
6.5 %
6.8 %
7.1 %
7.5 %
8.1 %
8.5 %
2020Q2
0.6 %
2.0 %
3.3 %
4.5 %
5.3 %
6.0 %
6.4 %
6.9 %
7.4 %
8.0 %
8.6 %
8.8 %
2020Q3
1.3 %
2.8 %
4.3 %
5.4 %
6.3 %
6.9 %
7.5 %
8.2 %
8.9 %
9.3 %
9.5 %
9.5 %
2020Q4
0.3 %
1.4 %
2.4 %
3.4 %
4.3 %
5.4 %
6.4 %
7.3 %
7.7 %
8.0 %
8.2 %
8.3 %
2021Q1
0.5 %
1.8 %
3.0 %
4.2 %
5.3 %
6.3 %
7.1 %
7.3 %
7.5 %
7.7 %
7.8 %
7.9 %
2021Q2
0.5 %
2.1 %
3.8 %
5.5 %
6.8 %
7.5 %
7.7 %
7.9 %
8.1 %
8.3 %
8.2 %
8.2 %
2021Q3
0.6 %
2.5 %
4.2 %
5.4 %
6.1 %
6.5 %
6.7 %
6.9 %
6.9 %
6.9 %
6.9 %
6.8 %
2021Q4
0.8 %
2.7 %
4.1 %
4.9 %
5.4 %
5.8 %
5.8 %
5.8 %
5.7 %
5.6 %
5.6 %
5.5 %
2022Q1
0.7 %
2.1 %
3.2 %
4.0 %
4.6 %
4.8 %
4.7 %
4.6 %
4.6 %
4.5 %
4.5 %
4.4 %
2022Q2
0.5 %
1.8 %
2.9 %
3.8 %
4.3 %
4.5 %
4.4 %
4.3 %
4.3 %
4.2 %
4.2 %
4.1 %
2022Q3
0.6 %
2.2 %
3.5 %
4.3 %
4.8 %
5.0 %
5.0 %
4.9 %
4.9 %
4.8 %
4.7 %
4.7 %
2022Q4
0.7 %
2.5 %
3.9 %
4.9 %
5.6 %
5.9 %
5.8 %
5.8 %
5.7 %
5.6 %
5.5 %
5.4 %
2023Q1
0.6 %
2.4 %
4.0 %
5.2 %
5.9 %
6.2 %
6.1 %
6.0 %
5.9 %
5.8 %
5.5 %
2023Q2
0.7 %
3.0 %
4.9 %
6.3 %
7.0 %
7.3 %
7.2 %
7.0 %
6.9 %
6.5 %
2023Q3
0.9 %
3.7 %
5.8 %
7.1 %
7.9 %
8.1 %
8.0 %
7.9 %
2023Q4
0.8 %
3.6 %
5.8 %
7.0 %
7.6 %
7.8 %
7.7 %
2024Q1
0.7 %
3.2 %
5.0 %
6.1 %
6.9 %
2024Q2
0.6 %
2.5 %
4.2 %
5.5 %
2024Q3
0.6 %
2.3 %
2024Q4
0.6 %
*The 30+ days delinquency rate by vintage refers to the outstanding principal balance of loans facilitated over a specified period
that are more than 30 days past due, as a percentage of the total loans facilitated during that same period. Loans originating
outside mainland China are excluded from the calculation.
View original content:https://www.prnewswire.com/news-releases/yiren-digital-reports-fourth-quarter-and-fiscal-year-2024-financial-results-302406916.html
SOURCE Yiren Digital
You may like
This release has been updated to include new information provided by TrendAI. The complete, corrected release follows, with additional details at the end:
TrendAI™ Adopts Claude Opus 5 to Advance Vulnerability Prioritization and Virtual Patching
As a participant in Anthropic’s Cyber Verification Program, TrendAI applies frontier reasoning to convert vulnerability intelligence into faster protection across hybrid environments
DALLAS, July 24, 2026 /PRNewswire/ — TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced it is adopting Claude Opus 5, Anthropic’s latest and most capable Opus model, to help security teams convert vulnerability intelligence into immediate protection, from prioritization to virtual patching. The move builds on TrendAI’s collaboration with Anthropic on Claude Opus 4.8, extending the same defensive focus to a model that delivers step-change gains in advanced reasoning, agentic workflows, and long-horizon analysis. As AI makes finding vulnerabilities easier than ever, the harder problem becomes protecting organizations faster than software can be permanently patched, and that is where TrendAI is putting Opus 5 to work.
As a participant in Anthropic’s Cyber Verification Program, which credentials organizations for the defensive use of frontier AI models, TrendAI is positioned to apply Claude Opus 5 to defensive security as access becomes available. The model is Zero Data Retention compatible, supporting TrendAI’s governance and data-protection requirements as it scales AI across security operations.
The work extends to TrendAI Threat Research, where frontier AI models are combined with our proprietary frontier intelligence engine and human expertise to generate pre-disclosure intelligence. Those insights power TrendAI Vision One™, delivering stronger detection, deeper forensic insights, and proactive protection through virtual patching.
Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™:
“With Claude Opus 5, TrendAI can move from vulnerability intelligence to action faster than ever, prioritizing what matters most by exploitability and business impact. Finding the vulnerability was always the hard part. Now the challenge is protecting organizations faster than software can be permanently patched, and frontier reasoning is what changes that equation, extending all the way to virtual patching that protects customers before a vendor fix ships. This is what it means to secure the AI age, fearlessly.”
These capabilities support TrendAI Vision One™ in helping security analysts, AppSec teams, and SOC teams prioritize exposure, map attack paths, and accelerate mitigation, including virtual patching, across hybrid environments, moving vulnerability management from a static scanning process into a faster, context-aware risk mitigation workflow.
About TrendAI™
TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. Through deep ecosystem partnerships with market leaders like NVIDIA, Anthropic, AWS, Google, and Microsoft, TrendAI™ empowers your organization to securely drive forward at the speed of AI. AI Fearlessly. Learn more: trendaisecurity.com
About Anthropic
Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models, including Claude Opus 5, enables advanced capabilities across a wide range of applications, including code understanding and security analysis.
Update: The latest version of this release includes additional statements from TrendAI related to the original announcement.
View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-adopts-claude-opus-5-to-advance-vulnerability-prioritization-assessment-and-virtual-patching-302834362.html
SOURCE TrendAI
Technology
Ralph Ye on 10 Years of Entrepreneurship at CASEKOO: Less Identity Shift, More Habits That Endure
Published
24 minutes agoon
July 24, 2026By
NEW YORK, July 24, 2026 /PRNewswire/ — As CASEKOO approaches its 10th anniversary, founder Ralph Ye says the company’s biggest achievement isn’t measured by units sold, but by how its philosophy has evolved.
Ten years ago, Ye found himself frustrated by a simple problem: his phone wouldn’t stand upright on a fast-food table. Instead of accepting the inconvenience, he saw an opportunity to rethink what a phone case could do.
Today, CASEKOO has sold more than 20 million phone cases across 32 countries. Over the past decade, the company has evolved from creating protective accessories into designing products that fit naturally into everyday life.
“Innovation isn’t about changing identities,” Ye said. “It’s about making meaningful habits easier to keep.”
From Q Line to LinKOO
The evolution of CASEKOO’s product portfolio reflects a broader shift in the company’s design philosophy.
The journey began with the Q Line (Quality Line), a collection of crystal-clear phone cases engineered to deliver premium protection without compromising aesthetics. In 2021, CASEKOO introduced the E Line (Innovation Line), the world’s first phone case with an integrated ring stand. The product earned an iF Design Award and became an Amazon bestseller, demonstrating the market’s appetite for accessories that combined protection with everyday functionality. The X Line (Expression Line) followed, expanding the brand’s focus on personalization and expressive design.
Each product generation introduced new capabilities, but each also reinforced an important insight.
“We moved from Q Line to E Line to X Line, and every generation taught us something about what people actually need,” said Ye. “By the time we introduced The KOO series, we weren’t designing features anymore. We were designing around everyday behaviors.”
Today, the portfolio gives each rhythm a clear name: LinKOO — Link Your Way for hands-free carry, StandKOO — Elevate Your Day for hands-free viewing and grip, and X-LINE — Fit Your Vibe for expressive personalization.
It represents CASEKOO’s transition from designing accessories with added functions to creating products that support everyday habits. For the company, the future of consumer technology lies not in how many features a product offers, but in how seamlessly it integrates into the way people live.
A Philosophy Born from Everyday Life
The inspiration behind LinKOO came from one of Ye’s longest-standing habits.
For nearly two decades, he has left home every day holding his wife’s hand. One evening, while carrying his phone, keys, and wallet in his other hand, he realized how often everyday essentials compete with life’s simplest moments.
That observation inspired ClipSafe™, a foldable clasp integrated into the LinKOO series. Hidden when not in use and deployable with a single press, it allows users to carry everyday essentials without sacrificing comfort or aesthetics.
For CASEKOO, LinKOO is more than a product launch. It represents the company’s belief that technology should adapt to people—not the other way around.
“Ten years ago, we asked how to better protect a phone,” Ye said. “Today, we’re asking how to protect a moment.”
That is what designed to fit you means. That is Less Effort, More Living. And after a decade of iteration, failure, and quiet persistence, CASEKOO has finally arrived—not at an answer, but at a better question.
About CASEKOO
CASEKOO is a design-led lifestyle accessories brand built around a simple idea: freeing your hands in everyday life. Through thoughtful hands-free solutions, we help people move seamlessly between different moments of the day—from active, on-the-go moments to times of focus and connection.
What makes CASEKOO different from a regular phone case? We believe technology should support life, not interrupt it. By designing products that adapt naturally to how people live, work, and move, CASEKOO reduces everyday friction and creates a more effortless experience—making room for freedom, connection, and the moments that truly matter.
For more information, visit: casekoo.com.
Contact:
Charlotte Yu
brandteam@casekoo.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ralph-ye-on-10-years-of-entrepreneurship-at-casekoo-less-identity-shift-more-habits-that-endure-302831896.html
SOURCE CASEKOO
Technology
Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
Published
24 minutes agoon
July 24, 2026By
LOS ANGELES and NEW YORK, July 24, 2026 /PRNewswire/ — Paramount Skydance Corporation (NASDAQ: PSKY) (“Paramount”) today announced the extension of the Expiration Dates in connection with the previously announced (i) offers to purchase (the “Tender Offers” and each, a “Tender Offer”) for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the “Offer to Purchase”), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the “DGH Issuer”) and Discovery Communications, LLC (the “DCL Issuer” and together with the DGH Issuer, each a “WBD Issuer” and collectively the “WBD Issuers”), as applicable, and (ii) offers to exchange (the “Exchange Offers” and each, an “Exchange Offer” and, together with the Tender Offers, the “Offers” and each, an “Offer”), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the “Offering Memorandum”), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the “Offer Notes”) issued by the applicable WBD Issuer for notes to be newly issued by Paramount.
The Expiration Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) have been extended to 5:00 p.m., New York City time, on August 7, 2026, unless further extended. The Settlement Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) will occur promptly after the Expiration Date and are currently anticipated to occur in the third quarter of 2026. Paramount anticipates extending the Expiration Date for such Tender Offers and Exchange Offers until such time that would result in the Settlement Dates occurring on or promptly following the closing date of the proposed acquisition (the “Acquisition”) by Paramount of Warner Bros. Discovery, Inc. (“WBD”). Tenders of the Offer Notes in the Offers may be withdrawn at any time prior to the Expiration Date. The aforementioned extensions further extend the Expiration Dates previously extended by Paramount on June 12, 2026, June 26, 2026, July 13, 2026, and July 17, 2026.
As of 5:00 p.m., New York City time, on July 23, 2026, approximately 66.17% and 76.38% of the aggregate principal amount of the Existing Tender Offer Notes and Existing Exchange Offer Notes, respectively, have been validly tendered in the applicable Offers. As Paramount previously announced that it anticipates extending the Offers to align with the closing date of the Acquisition, Paramount does not view these figures to be representative of the final results of the applicable Offers.
Information about each series of Offer Notes eligible to participate in the Offers is summarized below.
Type of Offer
Offer Notes to be Tendered
or Exchanged, as
Applicable
Issuer of Offer Notes
CUSIP No. / Common Code
/ ISIN Eligible to
Participate in the Offers (1)
Aggregate Principal
Amount of Offer Notes
Eligible to Participate in the
Offers (2)
Tender Offer
3.950% Senior Notes due 2028
DCL Issuer
25470D CP2
US25470DCP24
$1,234,458,000
Exchange Offer
4.125% Senior Notes due 2029
DCL Issuer
25470D CQ0
US25470DCQ07
$655,825,000
Exchange Offer
3.625% Senior Notes due 2030
DCL Issuer
25470D CR8
US25470DCR89
$914,183,000
Exchange Offer
5.000% Senior Notes due 2037
DCL Issuer
25470D CS6
US25470DCS62
$453,281,000
Exchange Offer
6.350% Senior Notes due 2040
DCL Issuer
25470D CT4
US25470DCT46
$438,102,000
Exchange Offer
4.950% Senior Notes due 2042
DCL Issuer
25470D CU1
US25470DCU19
$130,366,000
Exchange Offer
4.875% Senior Notes due 2043
DCL Issuer
25470D V91 CV9US25470DC
$141,584,000
Exchange Offer
5.200% Senior Notes due 2047
DCL Issuer
25470D W74 CW7US25470DC
$3,161,000
Exchange Offer
5.300% Senior Notes due 2049
DCL Issuer
25470D X57 CX5US25470DC
$247,860,000
Tender Offer
3.755% Senior Notes due 2027
DGH Issuer
254948 AH5
US254948AH58
254948 AN2
US254948AN27
U25483 AA3
USU25483AA38
$1,189,336,000
Exchange Offer
4.054% Senior Notes due 2029
DGH Issuer
254948 AJ1
US254948AJ15
254948 AP7
US254948AP74
U25483 AB1
USU25483AB11
$1,353,828,000
Exchange Offer
4.279% Senior Notes due 2032
DGH Issuer
254948 AK8
US254948AK87
254948 AQ5
US254948AQ57
$2,691,764,000
Exchange Offer
5.050% Senior Notes due 2042
DGH Issuer
254948 AL6
US254948AL60
254948 AR3
US254948AR31
U25483 AD7
USU25483AD76
$4,104,687,000
Exchange Offer
5.141% Senior Notes due 2052
DGH Issuer
254948 AM4
US254948AM44
254948 AS1
US254948AS14
$949,883,000
Exchange Offer
4.302% Senior Notes due 2030
DGH Issuer
XS3393993285
339399328
€234,382,000
Exchange Offer
4.693% Senior Notes due 2033
DGH Issuer
XS3393994507
339399450
€316,641,000
1
No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Offer Notes. Such identifiers are provided solely for the convenience of the holders.
2
Represents the aggregate principal amount of Offer Notes outstanding that are eligible to participate in the Offers.
The Exchange Offers are being made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations of the Securities and Exchange Commission (the “SEC”) promulgated thereunder, and are also not being registered under any state or foreign securities laws. Any securities offered pursuant to the Exchange Offers may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the securities offered pursuant to the Exchange Offers are only being offered and issued, to holders of applicable Existing Exchange Offer Notes who are (a) reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the Securities Act or (b) not “U.S. persons,” as defined in Rule 902 of Regulation S under the Securities Act (such holders, “Eligible Holders”), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount.
General
Each Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount’s sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of Offer Notes. Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.
The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the notes to be issued in the Exchange Offers, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder’s Offer Notes for cash or notes to be issued in the Exchange Offers. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.
Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the “Exchange Agent”) and information agent (in such capacity, the “Information Agent”) for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at contact@gbsc-usa.com. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount.
Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the “Dealer Managers”) for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or debt_advisory@bofa.com or Citigroup Global Markets Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 or ny.liabilitymanagement@citi.com. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY’s portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.
PSKY-IR
Cautionary Note Concerning Forward-Looking Statements
This communication contains “forward-looking statements” regarding the Acquisition and the other transactions referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the “Combined Company”); the adverse impact on the Combined Company’s advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company’s decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company’s business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company’s content; damage to the Combined Company’s reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company’s intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company’s business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company’s operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount’s ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company’s holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned “Cautionary Note Concerning Forward-Looking Statements” and “Item 1A. Risk Factors,” Paramount’s most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 4, 2026, including in the sections captioned “Cautionary Note Concerning Forward-Looking Statements” and “Item 1A. Risk Factors,” and Paramount’s subsequent filings with the SEC, and in WBD’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned “Item 1A. Risk Factors,” WBD’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD’s subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.
View original content:https://www.prnewswire.com/news-releases/paramount-skydance-corporation-announces-extension-of-expiration-dates-of-previously-announced-exchange-offers-and-tender-offers-302834084.html
SOURCE Paramount Skydance Corporation
/U P D A T E — TrendAI/
Ralph Ye on 10 Years of Entrepreneurship at CASEKOO: Less Identity Shift, More Habits That Endure
Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
Send Rakhi to UK swiftly with UK Gifts Portal
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
New Gooseneck Omni Antennas Offer Enhanced Signals in a Durable Package
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Coin Market5 days agoWill the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
-
Technology5 days ago“Every Day CO₂ Challenge”: More Than a Game, A New Way of Learning
-
Technology4 days agoTrakka Systems to Demonstrate Advanced ISR Capabilities at Farnborough International Airshow 2026
-
Technology5 days agoPowering ASEAN’s Manufacturing Transformation: IME 2026 Connects Technology, Industry and Opportunity
-
Technology4 days agoSigneasy expands beyond eSignatures with Intelligent Contract Management for growing businesses
-
Technology5 days agoDBS named Asia’s Best Digital Bank by Euromoney, recognised for its AI leadership and responsible innovation
-
Technology4 days agoCNPC launches China’s first full-chain green, low-carbon ethylene project
-
Technology5 days agoBOC Group Releases ADONIS 19.0 LTS to Bring Smarter Support into Everyday BPM Work
