Fuya Zheng
大家好。我们很高兴以2024年第一季度的稳健财务表现开启新的一年。我们继续实施基于密切监控资产质量动态而主动、动态调整贷款规模的战略，这一策略再次证明在保障盈利能力方面是有效的。
因此，尽管贷款规模同比和环比均有所下降，但我们的营收和利润在年度和季度基础上均实现增长，利润改善显著。第一季度，促成和发放的贷款总额同比下降11%，环比下降18%，至人民币220亿元，符合我们的指引。
截至2024年3月31日，我们的总在贷余额为人民币440亿元。截至季度末，逾期31至60天和91至180天的在贷不良率分别为1.61%和4.37%，而去年同期分别为1.05%和2.4%。逾期贷款占总在贷余额百分比的上升，主要是由于本季度末在贷余额较低所致，这是我们去年第一季度启动的主动控制贷款促成和发放的结果。
排除贷款规模减少的影响，本季度资产质量开始趋于稳定。我们仍致力于在整个信贷周期内密切监控借款人，持续优化风控体系，并采取一切必要措施来降低风险。
第一季度，尽管贷款规模下降，总净营收仍达到人民币12亿元，同比增长20%，环比增长1%。得益于严格的风险控制和运营效率提升，净利润同比增长28%，环比增长92%，达到人民币3.63亿元。这再次证明了我们战略的有效性、强大的执行力以及对确保长期盈利能力的承诺。
从本季度开始，我们将借款人获客成本从发放和服务费用中合并。将一般及行政费用以及销售和营销费用中的借款人获客间接费用，合并计入借款人获客和营销费用，连同总运营成本和费用，为投资者提供清晰的公司费用明细。展望未来，我们将在稳定资产质量的同时，优化借款人获客成本，以推动可持续的盈利能力。
我们对未来在资产质量稳定下的盈利目标充满信心。根据我们当前的战略，我们对2024年的贷款借款有清晰的可见度，预计全年促成和发放的贷款总额约为人民币1000亿元。我们对可持续盈利能力和为股东创造价值的承诺坚定不移。
我们的董事会已授权一项新的股票回购计划，回购价值高达2000万美元的股份，该计划将于2024年1月1日至2025年11月30日期间生效。我们对我们作为上市公司的地位充满信心，并将为股东带来长期回报。现在，我想介绍一下第一季度的财务表现。
请注意，所有陈述的数字均以人民币为单位，并已四舍五入。总净营收从2023年同期的10.05亿元增长20%至12.08亿元，主要原因是与2023年同期相比，各项细分收入有所增长。关于营收构成的进一步分析，请参阅相关部分。
发放和服务费用从2023年同期的3.71亿元增长15%至4.27亿元，主要原因是与2023年同期相比，由于前几个季度贷款促成和发放量增加的累积效应，催收费用有所增加。
借款人获客和营销费用从2023年同期的2.72亿元下降9%至2.48亿元，主要原因是与2023年同期相比，借款人获客成本有所下降。
贷款应收款项拨备为6200万元，而2023年同期为2000万元，主要原因是与2023年同期相比，由于前几个季度贷款促成和发放量增加的累积效应，公司持有的贷款应收款项增加。
运营收入为3.77亿元，而2023年同期为3.28亿元。净利润为3.63亿元，而2023年同期为2.84亿元。非GAAP调整后净利润为3.22亿元，而2023年同期为3.07亿元。更多财务信息，请参阅我们投资者关系网站上的业绩公告。现在谈谈我们的业务展望。
对于今年第二季度，我们预计促成和发放的贷款总额将在人民币230亿元至245亿元之间。对于2024年全年，我们预计促成和发放的贷款总额将在人民币900亿元至1100亿元之间。我们的预先准备好的发言到此结束，现在进入问答环节。主持人，请。
Fuya Zheng
Hello, everyone. We are pleased to start 2024 with a solid financial performance in the first quarter. We continue to implement our strategy of proactively and dynamically adjusting loan volumes based on close monetary asset quality dynamics, and this again proved effective in securing our profitability.
As a result, despite a year-over-year and the quarter-over-quarter decline in the loan volume, both our top and the bottom line increased on a yearly and quarterly basis with notable improvements in profits. In the first quarter, the total loan amount facilitated and originally decreased by 11% year-over-year and 18% quarter-over-quarter to RMB 22 billion, in line with our guidance.
Our total outstanding loan balance was RMB 44 billion at the end of March 2024. Delinquency rates for the outstanding loans past due for 31 to 60 days and 91 to 180 days were 1.61% and 4.37%, respectively, at the end of the quarter, compared with 1.05% and 2.4% a year ago. The increase in overdue loans as a percentage of total outstanding loans is primarily due to lower outstanding loan balances at this quarter end, as a result of proactive control of loan facilitating and originating that we initiated in the first quarter of last year.
Excluding the impact of the reduced loan volume, asset quality began to stabilize during this quarter. We remain committed to closing monitoring borrowers through the entire credit cycle, continuing streaming our risk control system and taking all necessary measures to mitigate risks.
In the first quarter, total net revenue was RMB 1.2 billion, up 20% year-over-year and 1% quarter-over-quarter despite decline in the loan volumes. Thanks to our strict risk controls and improved operational efficiency, net income increased by 28% year-over-year and 92% quarter-over-quarter to RMB 363 million. This once again demonstrates the effectiveness of our strategy, strong execution and commitment to ensuring long-term profitability.
Beginning this quarter, we combined the borrower acquisition costs from origination and service expenses. Indirect expenses from the borrower acquisitions from the general and administration expenses and the sales and marketing expense into the borrower acquisitions and marketing expense with total operation costs and expenses to provide a clear breakdown of the company's expenses for the investor. Going forward, we will continue to implement asset quality while opening up borrower acquisition costs to drive sustainable profitability.
We are confident in our future profitable goals with stabilized asset quality. We have a clear visibility on the loan borrowing for 2024 under our current strategy and expect the total loan amount facilitated and originated for the full year to be around RMB 100 billion. Our commitment to sustainable profitability and to shareholder value creation is unmoving.
Our Board of Directors has authorized a new program to repurchase up to $20 million worth of our shares, which will be effective from January 1, 2024, to November 30, 2025. We are confident in our position as a public company and we will drive long-term returns for our shareholders. Now I would like to give some financial performance for the Q1.
Please note that all the numbers stated are in RMB and is rounded up. Total net revenue increased by 20% to RMB 1,208 million from RMB 1,005 million in the same period of 2023, primarily due to growth in various disaggregate revenue compared with the same period of 2023. Please see further analysis of this equation of the revenue.
Origination and servicing expenses increased by 15% to RMB 427 million from RMB 371 million in the same period of 2023, primarily due to the increase in the collection expenses resulting from the cumulative effect of increased volume of loan facility and provided in the previous quarters compared with the same period of 2023.
Borrower acquisitions and the marketing expenses decreased by 9% to RMB 248 million from RMB 272 million in the same period of 2023, primarily due to the decrease in the borrower acquisition cost compared with the same period of 2023. Provision for the loan receivable was RMB 62 million compared with RMB 20 million in the same period of 2023, primarily due to an increase in loan receivable hold by the company as a result of the accumulated effect of increased volume of loan facility and provided in previous quarters compared with the same period of 2023.
Income from the operations was RMB 377 million compared with RMB 328 million in the same period of 2023. Net income was RMB 363 million compared with RMB 284 million in the same period of 2023. Non-GAAP adjusted net income was RMB 322 million compared with 307 million in the same period of 2023. For further financial information, please refer to the earnings release on our IR website. Now on our business outlook.
For Q2 this year, we expect total loan amount facilitated and originated to be between RMB 23 billion and RMB 24.5 billion. For the full year of 2024, we expect the total amount facilitated and originated to be between RMB 90 billion to RMB 110 billion. This concludes our prepared remarks, and we would like to open the call to questions. Operator, please.
