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X Financial Announces Execution of Five Key Financial Strategies, Enhancing Integration of Finance and Technology in 2024

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SHENZHEN, China, March 20, 2025 /PRNewswire/ — X Financial, a China-based pioneer in the fintech sector, today released its unaudited financial results for the fourth quarter and the full year ending December 31, 2024.

According to the released financials, the company’s outstanding loan balance reached 52.327 billion yuan as of year-end. Total net revenue for the year was reported at 5.8718 billion yuan, with a net profit of 1.5399 billion yuan for fiscal 2024.

Mr Kent Li, President of X Financial, said, “We are very pleased to conclude the year with outstanding operational and financial results for the fourth quarter. Our relentless efforts to enhance asset quality, coupled with a favorable macroeconomic environment, drove significant revenue and profit growth. As we move into 2025, we remain optimistic about our business prospects and plans to capitalize on the growth opportunities in this favorable market environment to accelerate growth and enhance shareholder returns. Looking ahead, we will continue to leverage artificial intelligence to further strengthen our technological capabilities, optimize operational efficiencies, and enhance service quality.”

Advancing Five Key Financial Strategies to Enhance Service to the Real Economy

In 2024, the Central Financial Work Conference highlighted the crucial role of finance as the lifeblood of the Chinese economy and advocated for the effective implementation of five key financial initiatives. Following the introduction of policies designed to stabilize the economy and stimulate consumer spending, market dynamics have improved significantly. X Financial remains committed to its core mission of driving financial innovation and maintaining a customer-first approach. The company continues to deliver superior financial services to the real economy while effectively implementing the strategic initiatives through its ‘Small Win Practice’, achieving commendable market performance.

In 2024, X Financial introduced the Small Business Assistance Program to further support self-employed individuals, small and micro-enterprise owners, and rural entrepreneurs. Data shows that from January 2020 to the end of December 2024, X Financial has delivered over 8 million services to small and micro-entrepreneurs and self-employed individuals across 31 provinces, autonomous regions, and municipalities nationwide.

The financial report reveals that in the fourth quarter of 2024, X Financial facilitated and issued loans amounting to 32.297 billion yuan. For the full year, the total loan volume reached 104.889 billion yuan.

Mr Frank Fuya Zheng, Chief Financial Officer of X Financial, commented, “We are delighted to report strong financial performance for the fourth quarter, and our balance sheet remains solid. In 2024, we allocated approx. US$76 million for share repurchases and dividends, highlighting our commitment to creating value for our shareholders and maintaining financial flexibility to support future growth. In 2025, we will continue to enhance shareholder value through share repurchases and dividends, while executing our effective strategy to drive long-term growth and value creation.”

Technological Advancements Shape a Better Future for Small and Micro Enterprises

In 2024, advancements in AI are poised to revolutionize the industry, transitioning the financial sector from being ‘data-driven’ to ‘intelligence-driven.’ X Financial is committed to continually advancing its technology while staying true to its original mission of ‘technology for good.’ The company’s proprietary WinSAFE smart system directly addresses market needs and utilizes AI technology to foster growth within the real economy.

The WinSAFE system is the backbone of X Financial, connecting various business segments to enhance operational efficiency. In marketing, it boosts customer acquisition efficiency. For risk management, it supports the growth of small and micro enterprises by adapting to diverse scenarios. In customer service, it links to an intelligent platform that significantly enhances service delivery, protects consumer rights, and delivers a positive user experience. With its advanced digital capabilities for precision operations, the WinSAFE system serves as a vital bridge connecting the real economy with financial institutions, providing efficient and convenient technological solutions to both financial entities and consumers.

X Financial has effectively harnessed AI technology to create a robust 360-degree security barrier, ensuring the protection of information and data integrity. This effort led to the development of the WinPROT protection system, which includes five critical functions: fraud prevention, enhanced data security, efficient customer service, empowerment through innovative technology, and consumer protection education. Our comprehensive strategy provides complete safeguarding of application systems and data at all stages. The WinPROT system offers full-process, multi-point alerts and employs intelligent mechanisms to intercept potential fraudulent activities, ensuring our services remain secure and reliable for all users and partners.

X Financial is committed to further leveraging AI to advance its capabilities systematically across three key areas: business processes, user services, and risk management. The initiative is part of a strategy to drive the evolution of ‘AI + Fintech,’ delivering solutions that are smarter, more efficient and more convenient. By employing AI models such as DeepSeek, Tongyi Qianwen and Doubao, the company is optimizing operational efficiency by strengthening its technical capabilities in intelligent customer service, precision marketing, and fraud detection.  

Expanding Global Impact: X Financial’s Commitment to Philanthropy

From the outset, X Financial has embraced social responsibility as a cornerstone of the growth strategy. In 2018, the company established the X Public Welfare Foundation, driven by the corporate philosophy of ‘Small Wins, Great Goodness.’ The foundation focuses on enhancing elementary education in rural areas, notably in Xunwu County, Ganzhou City, Jiangxi Province. It has significantly improved educational resources and methodologies in these communities. The recent inauguration of the library at Chengjiang Central Primary School marks a milestone in empowering rural students to realize their potential. Simultaneously, the X Foundation has expanded its reach across borders, transforming the power of “Small Wins, Great Goodness” into a significant force. In line with the ‘Belt and Road’ initiative, the foundation has brought its extensive experience and resources in public welfare education to the African continent.

In August 2024, the X Foundation participated in the nongovernmental philanthropy exchange forum between China and Africa. As part of this collaboration, the foundation funded extensive renovations at three schools in Masare, Kenya. The project focused on the construction of enhanced educational facilities, including classrooms and libraries, using durable reinforced concrete frame structures. The improvements enhanced the safety and aesthetic appeal of the schools, significantly improving the learning environment for children and ensuring their right to equal education.

In 2024, as X Financial celebrated its tenth anniversary, the company stayed true to its original mission, guided by macroeconomic policies. The year was highlighted by solid and steady performance, with a strong focus on compliance, technological advancement, and the small and micro-business sectors. Looking ahead to 2025, X Financial is optimistic that favorable macroeconomic policies will continue to support the growth of private companies and the broader real economy. With this new phase, the company is dedicated to advancing the integration of ‘AI + Fintech,’ fully leveraging its growth potential. X Financial is also committed to the effective implementation of the five key financial initiatives and expanding ongoing collaborations to further enhance the real economy.

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Advanced Process Solutions Elevates Clint Johnson to Vice President of Services and Operations

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Veteran Semiconductor Leader Brings More Than 20 Years of Operational Excellence, Strategic Growth, and Industry Leadership

DALLAS, Oct. 27, 2026 /PRNewswire/ — Advanced Process Solutions (APS), an industry leader in high precision and high purity manufacturing and process technology solutions, serving the semiconductor, aerospace, electronics, and industrial markets, today announced the promotion of Clint Johnson to Vice President of Services and Operations. As APS continues to expand its presence and capabilities within the semiconductor industry, Johnson’s leadership will play a critical role in advancing the company’s mission, strengthening customer partnerships, and delivering best-in-class service solutions.

“Clint has been an invaluable asset to APS since joining us as Director of Field Services earlier this year,” said Suhas Uppalapati, Chairman of APS. “He has demonstrated exceptional leadership and a relentless focus on operational performance. His dedication to customer success, workforce development, and continuous improvement quickly established him as a key contributor, and we are excited to see him continue to push APS forward in this expanded role.”

Johnson oversees APS’s service and operational functions, ensuring the organization maintains the highest standards of safety, regulatory compliance, quality, and customer satisfaction. His leadership approach is rooted in accountability, collaboration, and operational discipline, creating an environment where teams are empowered to excel while supporting the company’s broader strategic objectives.

“I am honored to step into the role of Vice President of Services and Operations and to work alongside such a talented team,” said Johnson. “The semiconductor and advanced manufacturing sectors are moving at an unprecedented pace. Together, we will continue focusing on safety, quality, and operational execution to ensure APS is uniquely positioned to help our global customers scale, optimize workflows, and meet today’s complex production demands.”

Prior to APS, Johnson spent more than 20 years in operational management at Air Liquide, a world leader in chemical manufacturing. He earned a degree in organizational leadership from East Texas A&M University.

About Advanced Process Solutions (APS)

Advanced Process Solutions (APS) is a leading provider of precision manufacturing, engineered process systems, and ultra-high-purity solutions serving the semiconductor, aerospace, electronics, and advanced industrial markets. With over 25 years of industry experience, APS specializes in chemical delivery and dispensing systems, specialty gas distribution, filtration and purification, precision fabrication, automation and controls, and turnkey process system integration.

Strategically located in the Dallas Metroplex, APS supports the rapidly expanding U.S. semiconductor manufacturing ecosystem, including Texas’s emerging “Silicon Prairie.” To support its continued growth and innovation, APS is expanding into a purpose-built, 100,000-square-foot, high-tech manufacturing facility in Van Alstyne, Texas, featuring a Center of Excellence, state-of-the-art research and development capabilities, and advanced cleanroom facilities. This investment will significantly enhance APS’s manufacturing capacity, engineering capabilities, and ability to deliver next-generation process solutions.

Combining engineering expertise, manufacturing excellence, and an unwavering commitment to quality and safety, APS partners with leading global manufacturers to deliver innovative, reliable, and scalable solutions that enhance operational efficiency and support mission-critical production environments.

For more information, visit www.APSNextGen.com.

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From Grid Constraint to AI Growth: Hitachi Vantara and Duraflow Transform Data Center Energy Management for Greater AI and Compute Capacity

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Hitachi Vantara pilots one of the world’s largest Phase Change Material installations in its Netherlands data center, demonstrating how organizations can use up to 90% less electricity for thermal managementImplementation requires zero water for cooling, reducing the resources needed to support data center operationsThis generates more computing capacity from existing power infrastructure, rather than diverting power to cooling

ZALTBOMMEL, The Netherlands and SANTA CLARA, Calif., Oct. 27, 2026 /PRNewswire/ — As artificial intelligence (AI) accelerates demand for computing power, data centers face a growing challenge: how to increase AI and compute capacity when access to additional electricity is increasingly constrained.

Hitachi Vantara, the data storage, infrastructure and hybrid cloud management subsidiary of Hitachi Ltd. (TSE: 6501), is demonstrating a new approach to address this challenge by showing how data centers can effectively use their power for AI and compute capacity rather than power and cooling. At its data center in the Netherlands, Hitachi Vantara has deployed one of the world’s largest operational Phase Change Material (PCM) installations, using technology developed by Dutch thermal energy company Duraflow.

For more information about Hitachi Vantara’s approach to AI, please visit: https://www.hitachivantara.com/solutions/ai-analytics

Depending on the application, PCM technology can help reduce electricity consumption related to thermal management by up to 90%, while requiring no water for cooling. By reducing the energy needed to manage power and cooling, a greater share of available electrical capacity can be used for computing – an increasingly important consideration as organizations deploy more energy-intensive AI workloads.

Tackling the energy challenge behind AI
Every watt consumed by AI ultimately becomes heat and managing that heat requires as much as 40% of a data center’s total energy needs. At the same time, as AI workloads continue to grow, the ability to convert available electricity into useful computing capacity will increasingly determine how quickly digital infrastructure can expand. This creates a growing challenge for data center operators seeking to increase computing capacity within constrained power infrastructure. In regions where grid congestion or limited access to additional electricity can constrain data center expansion, improving infrastructure efficiency can help organizations make more computing capacity available within their existing power connection.

Hitachi Vantara faced this challenge as demand for high-density computing and AI infrastructure increased. Rather than assuming that more computing required a greater amount of power, the company explored ways to make its existing electrical capacity work harder. The resulting deployment of Duraflow’s PCM technology provides a real-world proof point for this approach at an operational scale.

Real-world performance: 240 kW of cooling with low electrical consumption
The installed system provides a total cooling capacity of 240 kW across two 120 kW PCM units. According to operational monitoring data, the two units collectively consume just 5–8 kW of electricity, depending on operating conditions. For comparison, a conventional DX cooling system delivering the same 240 kW cooling capacity would require an estimated 60–80 kW of compressor power. These operational figures illustrate how PCM-based thermal management can significantly reduce the electricity required for cooling, freeing up more of the data center’s available power capacity for computing.

“This project started with a very practical challenge: how do we grow our computing capacity when access to additional electricity is limited,” said Simon Ninan, Senior Vice President of Business Strategy, Hitachi Vantara. “We realized that if we could dramatically reduce the amount of power required for thermal management, we could make more of our existing electrical capacity available for computing. By partnering with Duraflow, we are demonstrating how smarter energy management can become an important enabler of AI growth.”

The approach also supports Hitachi Vantara’s broader commitment to operating more efficiently and sustainably, including its goal of becoming carbon neutral in Scope 1 and 2 GHG emissions by FY2030.

Building efficiency across the infrastructure stack
The deployment is part of Hitachi Vantara’s broader focus on helping organizations get more value from their infrastructure while managing the growing energy demands of digital workloads.

That approach extends across the infrastructure stack. Hitachi Vantara’s Virtual Storage Platform One (VSP One) Block includes a 4:1 Data Reduction Guarantee and features Dynamic Carbon Reduction technology, which reduces energy consumption by switching CPUs into eco-mode during periods of low activity. Its always-on compression capability allows the system to switch from inline data reduction to post processing, which further reduces energy consumption and helps reduce a CO2 footprint by as much as 40%.

“Addressing the energy demands of AI isn’t about optimizing one part of the business in isolation,” said Courtney Hadden, Sustainability Director, Hitachi Digital. “It’s about working in concert across the organization and with innovative ecosystem partners to find efficiencies at every stage – from the products we build, how we bring them to market, and everything in between. The answer cannot simply be to consume more power. We need to become smarter about how we use the power we already have.”

Dutch innovation, demonstrated at operational scale
Developed in the Netherlands, Duraflow’s PCM technology absorbs thermal energy during periods of peak demand before releasing it in a controlled manner when demand decreases. Unlike conventional cooling approaches that rely continuously on electrically driven refrigeration to remove heat, PCM technology provides a way to manage and store thermal energy more efficiently. The system requires no water for cooling, helping data centers reduce their reliance on water resources while significantly lowering the electricity needed for thermal management.

“Developing technology is one thing; proving that it can operate at this scale in a live, mission-critical environment is another,” said Simon Loerakker, CEO, Duraflow. “Our collaboration with Hitachi Vantara has allowed us to demonstrate the potential of innovation at an unprecedented scale. Together, we are showing that sustainable innovation and the growth of AI infrastructure can go hand in hand.”

For more information on Hitachi Vantara’s AI-enabled infrastructure, please visit: https://www.hitachivantara.com/en-us/products/storage-platforms.

Additional Resources:

Blog: Raising the Stakes for Sustainable, AI-ready InfrastructureBlog: Five Habits That Cut IT Energy Waste, Without Spending MorePress Release: Hitachi Vantara Releases FY2025 Sustainability Report, Highlighting Leadership in Energy-Efficient Infrastructure for AI-Driven WorkloadsWebinar: Green Data: Sustainable Innovations in Data CentersPress Release: Hitachi Vantara Unveils New Virtual Storage Platform One Capabilities to Enable Stronger Cyber Resilience, Performance and Sustainability

About Duraflow
Duraflow develops advanced thermal energy management technology based on Phase Change Materials (PCM). Its independently developed technology enables organizations to significantly reduce energy consumption for thermal management, maximize the use of existing electrical infrastructure and support the sustainable growth of mission-critical digital environments.

About Hitachi Vantara
Hitachi Vantara is transforming the way data fuels innovation. A wholly owned subsidiary of Hitachi Ltd., Hitachi Vantara provides the data foundation the world’s leading innovators rely on. Through data storage, infrastructure systems, cloud management, and digital expertise, the company helps customers build the foundation for sustainable business growth. To learn more, visit www.hitachivantara.com.

About Hitachi, Ltd. 
Through its Social Innovation Business (SIB) that brings together IT, OT (Operational Technology) and products, Hitachi aims to be a global leader in continuously transforming social infrastructure through digital, contributing to a harmonized society where the environment, wellbeing, and economic growth are in balance. Hitachi operates worldwide across four sectors – Digital Systems & Services, Energy, Mobility, and Connective Industries – as well as a Strategic SIB Business Unit focused on new growth areas. With Lumada at its core, Hitachi creates value by combining data, technology, and domain knowledge to solve customer and social challenges. Revenues for FY2025 (ended March 31, 2026) totaled 10,586.7 billion yen, with 606 consolidated subsidiaries and approximately 290,000 employees worldwide. Visit us at www.hitachi.com.

HITACHI is a trademark or registered trademark of Hitachi, Ltd. All other trademarks, service marks, and company names are properties of their respective owners.

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Parks Associates: HDR Is Shaping the Future of Premium Video Entertainment

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New Parks Associates white paper, developed in partnership with InterDigital, examines how HDR is advancing viewing experiences across streaming, live sports, gaming, and mobile devices

PLANO, Texas, Oct. 27, 2026 /PRNewswire/ — New research from Parks Associates shows high dynamic range (HDR) is becoming a foundational component of premium video entertainment, creating opportunities for television manufacturers, streaming services, and content creators to differentiate through picture quality. The research, High Dynamic Range and the Future of Video, developed in partnership with InterDigital, examines HDR’s expanding role across the entertainment ecosystem.

HDR enhances brightness and contrast and produces richer colors and more lifelike images for the video-viewing experience. The white paper explores how broader device support, growing content availability, and advances in production and distribution are moving HDR from a premium feature toward an expected part of high-quality viewing.

“HDR gives the entertainment industry a powerful way to make improvements in picture quality,” said Michael Goodman, Director, Entertainment Research, Parks Associates. “For manufacturers, it helps demonstrate the value of advanced displays. For streaming services and content owners, it provides an opportunity to deliver a more compelling experience and preserve the creative intent of their programming.”

“Consumers may not always know HDR by name, but they recognize the experience it enables: richer color, deeper contrast and a more lifelike picture,” said Lionel Oisel, Head of Video Labs, InterDigital. “As HDR expands across streaming, live sports, gaming and mobile, the opportunity is to make that premium experience consistent and efficient on every screen. Innovation in HDR, video compression and delivery will be fundamental to making that possible.”

The white paper identifies several developments shaping HDR’s next phase:

Smart TVs are the foundation. Smart TVs are the primary streaming video device in 62% of US internet households with a connected TV device.

Live sports and gaming expand HDR’s relevance. These experiences showcase HDR’s ability to reproduce bright highlights, detailed shadows, and realistic imagery, while pushing improvements in production and real-time processing.

Mobile viewing extends HDR beyond the television. Mobile phones account for 24% of weekly video consumption, with tablets contributing another 11%.

Technology advances improve delivery economics. AI-assisted image processing, cloud-based production, and next-generation codecs such as Versatile Video Coding (VVC) will simplify workflows and deliver HDR more efficiently.

The research also identifies challenges that require continued collaboration to ensure the successful expansion of HDR. Differences in HDR formats, device capabilities, and service implementations can produce inconsistent viewing experiences. Content providers must manage the cost and complexity of supporting multiple formats as audiences move from standard to HDR in their video viewing.

Parks Associates and InterDigital will highlight this research at Future of Video: Business of Streaming, an executive conference for the streaming and video industries on November 17-18 in Marina del Rey, California. Register here. 

For more information, contact Mindi Sue Sternblitz-Rubenstein.

About Parks Associates

Parks Associates helps companies identify new opportunities, refine strategy, and accelerate growth in connected technology markets through data-driven insights and industry expertise. With more than 40 years of experience, the firm delivers proprietary consumer and industry research, market forecasts, and strategic analysis that guide business decisions across personal, connected home, small business, and commercial technology ecosystems. Parks Associates supports clients in navigating evolving markets including AI, security, smart home, broadband, entertainment, energy, multifamily, smart buildings, and connected health.

The firm also fosters industry growth and collaboration by convening thousands of leaders each year through its flagship executive conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.

Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
425707@email4pr.com 

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