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Cover Page	12 Months Ended
Cover Page	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	Jiayin Group Inc.
Entity Central Index Key	0001743102
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Voluntary Filers	No
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Document Accounting Standard	U.S. GAAP
Entity Address, Address Line One	18th Floor, Building No. 1, Youyou Century Plaza
Entity Address, Address Line Two	428 South Yanggao Road
Entity Address, Address Line Three	Pudong New Area
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200122
Entity Incorporation, State or Country Code	F4
Entity Address, Country	CN
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-38806
Trading Symbol	JFIN
Title of 12(b) Security	American Depositary Shares
Security Exchange Name	NASDAQ
Document Shell Company Report	false
Document Registration Statement	false
Entity Bankruptcy Proceedings, Reporting Current	false
Auditor Name	Marcum Asia CPAs LLP
Auditor Location	New York, New York
Auditor Firm ID	5395
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	18th Floor, Building No. 1, Youyou Century Plaza
Entity Address, Address Line Two	428 South Yanggao Road
Entity Address, Address Line Three	Pudong New Area
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200122
Entity Address, Country	CN
Contact Personnel Name	Chunlin Fan
Local Phone Number	6190-6826
City Area Code	21
Contact Personnel Email Address	fanchunlin@jiayinfintech.cn
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	105,727,404
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	108,000,000

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
ASSETS
Cash and cash equivalents	¥ 291,018	$ 42,194	¥ 182,551
Restricted cash	2,023	293	2,016
Amounts due from related parties, net (net of allowance for credit losses of RMB16,114 and RMB23,579 as of December 31, 2021 and 2022, respectively)	17,750	2,574	37,017
Accounts receivable and contract assets, net (net of allowance for credit losses of nil and RMB2,539 as of December 31, 2021 and 2022, respectively)	1,732,218	251,148	502,431
Financial assets receivable	292,342	42,386
Loans receivable, net (net of allowance for credit losses of RMB27,255 and RMB17,991 as of December 31, 2021 and 2022, respectively)	3,151	457	329
Prepaid expenses and other current assets	472,830	68,554	62,255
Deferred tax assets , net	70,778	10,262	48,456
Property and equipment , net	18,900	2,740	9,100
Right-of-use assets	27,604	4,002	35,507
Long-term investment	90,497	13,121	90,528
Other long-term assets	1,759	255	1,242
TOTAL ASSETS	3,020,870	437,986	971,432
Liabilities including amounts of the consolidated VIEs without recourse to the Company (Note 2(b)):
Deferred guarantee income	276,518	40,091
Payroll and welfare payables	81,558	11,825	56,056
Amounts due to related parties	566	82	4,485
Tax payables	632,825	91,751	409,063
Accrued expenses and other current liabilities	572,135	82,953	118,808
Other payable related to the disposal of Shanghai Caiyin	188,300	27,301	322,028
Lease liabilities	27,465	3,982	35,243
TOTAL LIABILITIES	1,779,367	257,985	945,683
Commitments and Contingencies (Note 18)
SHAREHOLDERS' EQUITY
Treasury stock (nil and 2,372,596 shares as of December 31, 2021 and December 31, 2022, respectively)	(9,262)	(1,343)
Additional paid-in capital	870,562	126,220	840,580
(Accumulated deficit) Retained earnings	384,896	55,805	(794,762)
Accumulated other comprehensive loss	(3,112)	(452)	(17,954)
Total Jiayin Group shareholder's equity	1,243,084	180,230	27,864
Noncontrolling interests	(1,581)	(229)	(2,115)
TOTAL SHAREHOLDERS' EQUITY	1,241,503	180,001	25,749
TOTAL LIABILITIES AND EQUITY	3,020,870	437,986	971,432
Class A Ordinary shares
SHAREHOLDERS' EQUITY
Class A ordinary shares (US$0.000000005 par value;108,100,000 shares issued as of December 31, 2021 and December 31, 2022; 108,100,000 and 105,727,404 shares outstanding as of December 31, 2021 and December 31, 2022, respectively)1	0	0	0
Class B Ordinary shares
SHAREHOLDERS' EQUITY
Class A ordinary shares (US$0.000000005 par value;108,100,000 shares issued as of December 31, 2021 and December 31, 2022; 108,100,000 and 105,727,404 shares outstanding as of December 31, 2021 and December 31, 2022, respectively)1	¥ 0	$ 0	¥ 0

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 CNY (¥) shares
Business Acquisition [Line Items]
Amounts due from related parties, allowance for credit losses \| ¥	¥ 23,579	¥ 16,114
Accounts receivable and contract assets, allowance for credit losses \| ¥	2,539	0
Loans receivable, allowance for credit losses \| ¥	¥ 17,991	¥ 27,255
Treasury stock, shares	2,372,596	0
Class A Ordinary shares
Business Acquisition [Line Items]
Ordinary shares, shares authorized	10,000,000,000,000	10,000,000,000,000
Ordinary shares, shares issued	108,100,000	108,100,000
Ordinary shares, shares outstanding	105,727,404	108,100,000
Class B Ordinary shares
Business Acquisition [Line Items]
Ordinary shares, shares authorized	10,000,000,000,000	10,000,000,000,000
Ordinary shares, shares issued	108,000,000	108,000,000
Ordinary shares, shares outstanding	108,000,000	108,000,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Net revenue (including revenue from related parties of RMB 6,209, RMB 34,619 and RMB 6,567 for 2020, 2021 and 2022, respectively)	¥ 3,271,414	$ 474,310	¥ 1,780,490	¥ 1,300,160
Operating cost and expenses:
Origination and servicing	(565,227)	(81,950)	(320,466)	(239,199)
Other cost of sales \| ¥			(15,467)
Sales and marketing	(1,081,382)	(156,786)	(659,291)	(375,063)
General and administrative	(194,039)	(28,133)	(165,150)	(154,963)
Research and development	(216,694)	(31,418)	(143,733)	(151,550)
Allowance for uncollectible receivables, contract assets, loans receivable and others	(32,053)	(4,647)	(44,427)	(77,278)
Total operating cost and expenses	(2,089,395)	(302,934)	(1,348,534)	(998,053)
Income from operation	1,182,019	171,376	431,956	302,107
Gain from de-recognition of other payable associated with disposal of Shanghai Caiyin	117,021	16,966	138,043	117,021
Impairment of equity investment	(15,078)	(2,186)		(67,169)
Interest income (expense), net	281	42	(1,117)	7,716
Other income, net	43,447	6,299	16,952	6,711
Income (loss) before income tax expense and (loss) income from investment in affiliates	1,327,690	192,497	585,834	366,386
Income tax expense	(155,398)	(22,531)	(125,724)	(108,811)
(Loss) income from investment in affiliates	7,940	1,152	7,651	(7,509)
Net income	1,180,232	171,118	467,761	250,066
Net loss attributable to noncontrolling interest shareholders	574	84	(4,325)	(2,817)
Net income attributable to Jiayin Group Inc.	¥ 1,179,658	$ 171,034	¥ 472,086	¥ 252,883
Net income per share:
Basic net income per share \| (per share)	¥ 5.48	$ 0.79	¥ 2.18	¥ 1.17
Diluted net income per share \| (per share)	¥ 5.48	$ 0.79	¥ 2.18	¥ 1.17
Weighted average shares used in calculating net income per share:
- Basic	215,259,640	215,259,640	216,100,000	216,100,000
- Diluted	215,259,640	215,259,640	216,100,000	216,100,000
Net income	¥ 1,180,232	$ 171,118	¥ 467,761	¥ 250,066
Other comprehensive income, net of tax of nil
Foreign currency translation adjustments	14,802	2,146	(5,229)	(13,366)
Comprehensive income	1,195,034	173,264	462,532	236,700
Comprehensive (loss) income attributable to noncontrolling interests	534	78	(4,417)	(2,897)
Total comprehensive income attributable to Jiayin Group Inc.	¥ 1,194,500	$ 173,186	¥ 466,949	¥ 239,597
American Depositary Share [Member]
Net income per share:
Basic net income per share \| (per share)	¥ 21.92	$ 3.18	¥ 8.74	¥ 4.68
Diluted net income per share \| (per share)	¥ 21.92	$ 3.18	¥ 8.74	¥ 4.68

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Revenue from Related Parties	¥ 6,567	¥ 34,619	¥ 6,209

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI https://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT) EQUITY ¥ in Thousands, $ in Thousands	CNY (¥) shares	USD ($) shares	Ordinary shares Class A Ordinary shares shares	Ordinary shares Class B Ordinary shares shares	Treasury stock CNY (¥) shares	Additional paid-in capital CNY (¥)	Accumulated deficit CNY (¥)	Accumulated other comprehensive income (loss) CNY (¥)	Noncontrolling interest CNY (¥)
Beginning Balance at Dec. 31, 2019	¥ (741,599)				¥ 0	¥ 777,408	¥ (1,519,731)	¥ 469	¥ 255
Beginning Balance (in shares) at Dec. 31, 2019 \| shares			100,100,000	116,000,000	0
Capital contribution from noncontrolling interest shareholders	500								500
Net income	250,066						252,883		(2,817)
Share-based compensation	30,652					30,652
Exercise of share options	6,982					6,982
Business combination under common control	3,000					3,000
Convert Class B Ordinary Share to Class A Ordinary Share (in shares) \| shares			8,000,000	(8,000,000)
Foreign currency translation adjustments	(13,366)							(13,286)	(80)
Ending Balance at Dec. 31, 2020	(463,765)				¥ 0	818,042	(1,266,848)	(12,817)	(2,142)
Ending Balance (in shares) at Dec. 31, 2020 \| shares			108,100,000	108,000,000	0
Net income	467,761						472,086		(4,325)
Share-based compensation	15,186					15,186
Exercise of share options	7,352					7,352
Acquisition of a subsidiary	5,000								5,000
Deconsolidation of subsidiaries	(556)								(556)
Foreign currency translation adjustments	(5,229)							(5,137)	(92)
Ending Balance at Dec. 31, 2021	25,749					840,580	(794,762)	(17,954)	(2,115)
Ending Balance (in shares) at Dec. 31, 2021 \| shares			108,100,000	108,000,000
Net income	1,180,232	$ 171,118					1,179,658		(574)
Share-based compensation	42,548					42,548
Exercise of share options	¥ 2,184				¥ 1,008	1,176
Exercise of share options (in shares) \| shares	637,000	637,000			237,988
Vest of Restricted Share Units					¥ 13,742	(13,742)
Vest of Restricted Share Units (in shares) \| shares					3,383,784
Repurchase of ordinary shares	¥ 24,012				¥ (24,012)
Repurchase of ordinary shares (in shares) \| shares					(5,994,368)
Foreign currency translation adjustments	14,802	$ 2,146						(14,842)	(40)
Ending Balance at Dec. 31, 2022	¥ 1,241,503	$ 180,001			¥ (9,262)	¥ 870,562	¥ 384,896	¥ (3,112)	¥ (1,581)
Ending Balance (in shares) at Dec. 31, 2022 \| shares			108,100,000	108,000,000	(2,372,596)

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash flows from operating activities
Net income for the years	¥ 1,180,232	$ 171,118	¥ 467,761	¥ 250,066
Adjustments to reconcile net income to net cash flows from operating activities:
Allowance for uncollectible receivables, contract assets, loans receivable and others	32,053	4,647	44,427	77,278
Share-based compensation	42,548	6,169	15,186	30,652
Depreciation and amortization	9,961	1,444	15,674	23,158
Loss from disposal of property, equipment and software			16
Loss (income) from investment in affiliates	(7,940)	(1,152)	(7,651)	7,509
Impairment of short-term investment				67,169
Impairment of long-term investment	15,078	2,186
Gain from de-recognition of other payable associated with disposal of Shanghai Caiyin	(117,021)	(16,966)	(138,043)	(117,021)
Business combination under common control				3,000
Loss from disposal of subsidiaries			2,363
Net loss of a subsidiary which was both acquired and disposed off during the year			1,744
Changes in operating assets and liabilities:
Accounts receivable and contract assets	(1,232,326)	(178,670)	(344,388)	(224,408)
Financial assets receivable	(292,342)	(42,386)
Loans receivable	(21,903)	(3,176)	(9,681)	(58,982)
Prepaid expenses and other current assets	(434,318)	(62,970)	(5,822)	26,538
Amount due from/to related parties	12,437	1,803	(35,245)	10,039
Deferred tax assets	(22,322)	(3,236)	(12,943)	27,357
Other non-current assets	(516)	(75)	(1,242)
Operating lease right-of-use assets	7,903	1,146	(30,871)	30,289
Deferred guarantee income	276,518	40,091
Payroll and welfare payables	25,502	3,697	(2,185)	9,764
Tax payables	223,762	32,442	138,296	99,962
Refund liabilities				(180,104)
Accrued expenses and other current liabilities	444,064	64,383	54,898	(87,751)
Operating lease liabilities	(7,778)	(1,128)	32,246	(30,020)
Net cash (used in) provided by operating activities	133,592	19,367	184,540	(35,505)
Cash flows from investing activities
Purchase of property, equipment and software	(17,468)	(2,533)	(2,768)	(848)
Investments in equity investees				(3,378)
Disposal of subsidiaries, net of cash disposed of nil, RMB16,043 and nil			(16,043)
Acquisition of a subsidiary (including capital contribution of RMB86,487 to the subsidiary which was acquired and disposed off during the year)			(95,000)
Sale of property, equipment and software			11	1
Loans to related parties	(56,416)	(8,180)	(203,146)	79
Repayments from related parties	50,935	7,385	190,724	37,372
Net cash provided by (used in) investing activities	(22,949)	(3,328)	(126,222)	33,226
Cash flows from financing activities
Loans from related parties			15,000	3,113
Contribution from noncontrolling shareholders of subsidiaries				500
Repayment to related parties			(15,000)
Dividend distributed to shareholders			2,586
Repurchase of ordinary shares	(14,750)	(2,139)
Proceeds from exercise of options	2,184	317	7,352	6,982
Net cash provided by (used in) financing activities	(12,566)	(1,822)	9,938	10,595
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	10,397	1,510	(3,009)	(11,145)
Net change in cash, cash equivalents and restricted cash	108,474	15,727	65,247	(2,829)
Cash, cash equivalents and restricted cash at beginning of the year	184,567	26,760	119,320	122,149
Cash, cash equivalents and restricted cash at end of the year	293,041	42,487	184,567	119,320
Supplemental disclosure of cash flow information:
Income taxes paid, net	1,900	275	6,614	162
Supplemental disclosure of non-cash investing activities:
Disposal consideration settled by service fee collected on behalf of the Group (see Note 10)				156,276
Disposal consideration settled by other payable related to the disposal of Shanghai Caiyin (see Note 10)			94,380
Non-cash right-of-use assets in exchange for new lease liabilities (see Note 15)	12,655	1,835	47,101	4,734
Investment consideration settled by loan due from related party				(91,957)
Reconciliation to amounts on consolidated balance sheets
Cash and cash equivalents	291,018	42,194	182,551	117,320
Restricted cash	¥ 2,023	$ 293	¥ 2,016	¥ 2,000

ORGANIZATION AND PRINCIPAL ACTIVITIES

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND PRINCIPAL ACTIVITIES

Jiayin Group Inc. (the “Company”) is an exempted company incorporated with limited liabilities in the Cayman Islands under the laws of the Cayman Islands in December 2017.

The Company, its consolidated subsidiaries and the consolidated variable interest entities (“VIEs”) (collectively referred to as the “Group”) provide online consumer finance service in the People’s Republic of China (“PRC”) by connecting institutional funding partners with borrowers through a proprietary internet platform. The Group operates in an evolving regulatory environment and has been adjusting its business model to stay in compliance with regulatory requirements during the years presented. The Group historically has focused on connecting borrowers with individual investors. Since the third quarter of 2019, the Group also began to cooperate with institutional funding partners. Starting from 2020, the Group was actively expanding business in overseas markets. The Group operates lending business by using its own funds in Nigeria to extend small credit loans to individual borrowers.

Starting from year 2022, for certain off-balance sheet loans funded by institutional funding partners, the Group provides commitment to compensate the institutional funding partners or third party guarantee companies in the event of borrowers’ default in the form of guarantee provided by third-party financial guarantee companies or financial guarantee company within the Group.

History of the Group

The Group began the operations mainly through its PRC entities in 2015. In September 2015, Shanghai Jiayin Finance Technology Co., Ltd (“Jiayin Finance”) formed a wholly-owned subsidiary Shanghai Wuxingjia Information Technology Co., Ltd. (“Shanghai Wuxingjia”) (formerly known as (“Shanghai Niwodai Internet Finance Information Services Co., Ltd. ”) to develop online consumer finance service.

In September 2015, Shanghai Caiyin Asset Management Co., Ltd (“Shanghai Caiyin”) was established by Mr. Yan (the “ Founder”) to provide the guarantee services to the loans facilitated through Shanghai Wuxingjia. Shanghai Caiyin deemed as the variable interest entity (see Note 2(b)) of the Group started from 2015 to 2019, provided the guarantee service to the loans funded by individual investors facilitated through Shanghai Wuxingjia. Such guarantee service was ceased since April 28, 2018.

In December 2017, the Company was incorporated by the same shareholders of Jiayin Finance in Cayman Island in connection with a group reorganization (“Reorganization”). As PRC laws and regulations prohibit and restrict foreign ownership of internet value-added businesses, the Company established, through a BVI and a Hong Kong intermediary company, a wholly-owned foreign invested subsidiary in the PRC, Shanghai Kunjia Technology Co., Ltd. (“Shanghai Kunjia” or “WFOE”) in June 2018.

WFOE entered into a series of contractual arrangements (Note 2(b)) in June 2018 with Jiayin Finance (the “VIE”) and the shareholders of the VIE. The series of contractual agreements include Power of Attorney Agreement, Exclusive Purchase Agreement, Exclusive Consultation and Service Agreement, and Equity Pledge Agreement. The Group believes that these contractual agreements would enable WFOE to (1) have power to direct the activities that most significantly affect the economic performance of the VIE and its subsidiary and (2) receive the economic benefits of the VIE and its subsidiary that could be significant to them. Accordingly, the Group believes that WFOE is the primary beneficiary of the VIE and its subsidiary.

The Group considered the Reorganization as a reorganization of entities under common control.

IPO

On May 10, 2019, the Group completed its IPO on the NASDAQ Global Market. In this offering, 4,025,000 American depositary shares (“ADSs”), representing 16,100,000 Class A ordinary shares, were issued at a price of US$10.50 per ADS. The aggregate proceeds received by the Group from the IPO, net of issuance costs, were approximately RMB234,354. All classes of ordinary shares are entitled to the same dividend right. All of the Class B ordinary shares were held by the Founder of the Group.

Business transformation

On July 3, 2019, the Group established a wholly owned subsidiary, Geerong Yunke Information Technology Co., Ltd. (“Geerong Yunke”). On September 10, 2019, Geerong Yunke conducted a business combination under common control with Geerong Yun (Shanghai) Enterprise Development Co., Ltd. (formerly known as “Jirongyun (Shanghai) Enterprise Development Co., Ltd”, “Geerong Yun”) as both the Geerong Yunke and Geerong Yun were controlled by Mr. Yan.

ORGANIZATION AND PRINCIPAL ACTIVITIES - continued

In September 2019, as part of the business transformation of the Group, Shanghai Wuxingjia and Shanghai Caiyin entered into an amendment agreement. Pursuant to this amendment agreement, Shanghai Wuxingjia no longer had the rights to adjust the charge rate of guarantee services for Shanghai Caiyin, to collect the residual economic benefits from the guarantee services provided by Shanghai Caiyin, or to terminate the guarantee service agreement at any time. As a result of such revision, Shanghai Wuxingjia lost power to direct the activities that most significantly affect the economic performance of Shanghai Caiyin and no economic benefits of Shanghai Caiyin would be received by Shanghai Wuxingjia. Therefore, starting from September 1, 2019, Shanghai Wuxingjia was no longer considered as the primary beneficiary of Shanghai Caiyin and Shanghai Caiyin was deconsolidated by the Group.

As of December 31, 2022 the Company’s significant subsidiaries and its consolidated VIEs are as follows:


Name	Date of incorporation/ establishment or acquisition	Place of incorporation/ establishment	Percentage of direct or indirect ownership	Principal activities
Subsidiaries
Jiayin Holdings Limited	January 2018	BVI	100%	Investment Holding
Geerong (HK) Limited (formerly known as “Jiayin (HK) Limited”)	January 2018	Hong Kong	100%	Investment Holding
Jiayin Southeast Asia Holdings Limited	February 2018	BVI	100%	Investment Holding
Shanghai Kunjia Technology Co., Ltd.	June 2018	Shanghai	100%	Investment Holding
Geerong Yunke Information Technology Co., Ltd.	July 2019	Shanghai	100%	Technology development and consumer finance services
Geerong Yun (Shanghai) Enterprise Development Co., Ltd.	September 2019	Shanghai	100%	Technology development and consumer finance services
Shanghai Chuangzhen Software Co., Ltd.	April 2020	Shanghai	100%	Technology service
PT. Jayindo Fintek Pratama	April 2020	Indonesia	85%	Lending business
Fujian Jiaxi Financing Guarantee Co., Ltd.	July 2021	Fujian	100%	Guarantee service
Hainan Yinke Financing Guarantee Co., Ltd.	August 2021	Hainan	100%	Guarantee service

VIEs
Shanghai Jiayin Finance Technology Co., Ltd.	June 2015	Shanghai	100%	Technology service
Shanghai Wuxingjia Information Technology Co., Ltd. ( formerly known as "Shanghai Niwodai Internet Finance Information Services Co., Ltd.")	September 2015	Shanghai	100%	Technology development and consumer finance services
Shanghai Jiajie Internet Finance Information Services Co., Ltd.	July 2019	Shanghai	100%	Technology development and consumer finance services
Jiayin Shuke Information Technology Co., Ltd.	January 2021	Shanghai	100%	Technology service

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)

Basis of presentation

The accompanying consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

(b)

Principles of consolidation

The consolidated financial statements include the financial information of the Company, its wholly owned subsidiaries and its consolidated VIEs. All intercompany balances and transactions have been eliminated upon consolidation.

Variable interest entity

The VIE Arrangement with Shanghai Caiyin

In September 2015, Shanghai Caiyin Asset Management Co., Ltd (“Shanghai Caiyin”) was established by Mr. Yan (the “Founder”) to provide the guarantee services to the loans facilitated through Shanghai Wuxingjia. Upon formation, Shanghai Caiyin entered into an agreement with Shanghai Wuxingjia through which Shanghai Wuxingjia has the power to direct the activities that most significantly affects the economic performance of Shanghai Caiyin and would be able to receive the economic benefits of Shanghai Caiyin that could be significant to Shanghai Caiyin. Therefore, Shanghai Wuxingjia was considered the primary beneficiary of Shanghai Caiyin and consolidated Shanghai Caiyin.

Pursuant to this amendment agreement entered between Shanghai Wuxingjia and Shanghai Caiyin as part of the business transformation of the Group, starting from September 1, 2019, Shanghai Wuxingjia was no longer considered as the primary beneficiary of Shanghai Caiyin and Shanghai Caiyin was deconsolidated by the Group.

On September 16, 2019, Shanghai Caiyin was disposed to a third-party company, Shenzhen Rongxinbao Non-financial Guarantee Co., Ltd. (“Shenzhen Rongxinbao”) (See Note 10).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE

As PRC laws and regulations prohibit and restrict foreign ownership of internet value added businesses, the Company operates its business, primarily through the VIEs. In June 2018, the Company, through its wholly owned foreign invested subsidiary, Shanghai Kunjia or WFOE, entered into a series of contractual arrangements (“VIE agreements”) with Jiayin Finance and its respective shareholders that enable the Company to (1) have power to direct the activities that most significantly affects the economic performance of the VIE and its subsidiary, and (2) receive the economic benefits of the VIE and its subsidiary that could be significant to the VIE and its subsidiary.

Despite the lack of technical majority direct voting interest, there exists a parent subsidiary relationship between Shanghai Kunjia and the VIE and its subsidiary through the aforementioned agreements. The following is a summary of the VIE agreements:

The agreements that provide the Company effective control over the VIE and its subsidiary include:

Powers of Attorney:

Pursuant to the Power of Attorney, each of the four shareholders have signed power of attorney with WFOE to irrevocably authorize the board of directors / Executive Directors of WFOE and their successors to act as his or her attorney-in-fact to exercise all of his or her rights as a shareholder of Jiayin Finance including, but not limited to, the right (1) to make and sign the relevant shareholders’ general meeting decision on behalf of the shareholders of Jiayin Finance; (2) in accordance with the law and Jiayin Finance’s Charter of shareholders exercise the right to enjoy all the rights of shareholders , including but not limited to the right of shareholders to vote, sell or transfer or pledge or dispose of all or any part of Jiayin Finance’s shares; and (3) designate and appoint the legal representative, chairman, director, supervisor, general manager and other senior management of Jiayin Finance as the authorized representative of the Group. This power of attorney is irrevocable and continues to be in force during the period when the authorized person is a shareholder of WFOE, from the date of signature of this power of attorney.

Exclusive Purchase Agreement:

Pursuant to the Exclusive Purchase Agreement among WFOE, Jiayin Finance and the four shareholders of Jiayin Finance, the four shareholders and Jiayin Finance shall irrevocably grant WFOE, to purchase or appoint one or more persons from WFOE at any time to purchase all or part of the shares which is not subject to legal restriction or assets held by the four shareholders or Jiayin Finance. Except for WFOE and the designated person, no third party shall have the right to purchase shares and assets or other shares and assets related to the four shareholders. The consideration of the purchase should be RMB1 or the lowest price permitted by the PRC laws. The effective time period of this agreement is ten years, and will be automatically extended to further years.

The agreements that transfer economic benefits to the Company include:

Exclusive Consultation and Service Agreement:

Pursuant to the Exclusive Consultation and Service Agreement between WFOE and Jiayin Finance, WFOE has the exclusive right to provide Jiayin Finance with consulting and other services. Without WFOE’s prior written consent, Jiayin Finance may not accept any services subject to this agreement from any third party. WFOE has the right to determine the service fee to be charged to Jiayin Finance under this agreement by considering, among other things, the complexity of the services, the actual cost that may be incurred for providing such services, as well as the value and comparable price on the market of the service provided. WFOE will have the exclusive ownership of all intellectual property rights created as a result of the performance of this agreement. Unless WFOE terminates this agreement in advance or otherwise provided by law, this agreement will remain effective for ten years and shall automatically extend the term of this agreement prior to its expiration. Jiayin Finance may not terminate this agreement unilaterally.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE - continued

Equity Pledge Agreement:

Pursuant to the Equity Pledge Agreement among WFOE, Jiayin Finance and the four shareholders, in order to ensure that Jiayin Finance and its shareholders will fulfill the obligations under the power of attorney, the exclusive consultation and service agreement, and the exclusive purchase agreement (collectively “the Main Agreement”), the four shareholders have pledged 100% equity interest in Jiayin Finance to WFOE. According to the Main Agreement, the pledgee has the right to charge the service fee to Jiayin Finance. Those shareholders and WFOE also agree that without a prior written consent of the pledgee, they shall not transfer the shares or set up any pledge or other form of guarantee which may affect the rights and interests of the pledgee.

These contractual arrangements allow the Company, through its wholly owned subsidiary WFOE, to effectively control the VIEs, and to derive substantially all of the economic benefits from them. Accordingly, the Company has consolidated the financial results of the VIEs.

The Company believes that the contractual arrangements with the VIEs are in compliance with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce the contractual arrangements. If the legal structure and contractual arrangements were found to be in violation of PRC laws and regulations, the PRC government could:

•

revoke the Group’s operating licenses;

•

levy fines on the Group;

•

confiscate any of the Group’s net income that they deem to be obtained through illegal operations;

•

shut down the Group’s services;

•

discontinue or restrict the Group’s operations in China;

•

impose conditions or requirements with which the Group may not be able to comply;

•

require the Group to change corporate structure and contractual arrangements;

•

restrict or prohibit the use of the proceeds from overseas offerings to finance the Company’s PRC consolidated VIEs’ business and operations; and

•

take other regulatory or enforcement actions that could be harmful to the Group’s business.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE - continued

The following condensed financial statement balances and amounts of the Company’s VIEs, were included in the accompanying consolidated financial statements after the elimination of intercompany balances and transactions among the Company, its subsidiaries and its VIEs.


	As of December 31,
	2021		2022
	RMB		RMB
Cash and cash equivalents		14,759		16,294
Restricted cash		2,016		2,023
Amounts due from related parties		504		507
Financial Assets receivable		—		53,373
Accounts receivable, net		30,846		71,184
Prepaid expenses and other current assets		39,109		125,647
Deferred tax assets, net		24,615		26,914
Property and equipment, net		2,372		8,123
Right-of-use assets		24,430		14,297
Other long-term assets		1,103		242
TOTAL ASSETS		139,754		318,604
Deferred guarantee income		—		51,079
Payroll and welfare payables		28,057		35,900
Amounts due to related parties		4,485		566
Tax payables		272,964		286,705
Accrued expenses and other current liabilities		46,675		183,442
Other payable related to the disposal of Shanghai Caiyin		322,028		188,300
Lease liabilities		24,752		14,598
TOTAL LIABILITIES		698,961		760,590


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Net revenue		624,868			680,790			972,029
Operating income (expense)		230,415			(15,802	)		52,204
Net income		254,283			89,149			164,741
Net cash (used in) provided by operating activities		(40,071	)		98,486			8,807
Net cash used in investing activities		(62	)		(96,180	)		(7,265	)
Net cash used in financing activities		—			—			—

The VIEs contributed 48%, 38% and 30% of the Group’s consolidated revenue for years ended December 31, 2020, 2021 and 2022. As of December 31, 2021 and 2022, the VIEs accounted for an aggregate of 14% and 11% of the consolidated total assets, and 74% and 43% of the consolidated total liabilities, respectively.

There are no terms in any arrangements, considering both explicit arrangements and implicit variable interests that require the Company or its subsidiaries to provide financial support to the VIEs. However, if the VIEs were ever to need financial support, the Group may, at its option and subject to statutory limits and restrictions, provide financial support to its VIEs through loans to the shareholders of the VIEs or entrustment loans to the VIEs.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE - continued

The Group believes that there are no assets held in the VIEs that can be used only to settle obligations of the VIEs, except for registered capital and the PRC statutory reserves. As the VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the VIEs. Relevant PRC laws and regulations restrict the VIEs from transferring a portion of their net assets, equivalent to the balance of its statutory reserve and its share capital, to the Company in the form of loans and advances or cash dividends. See Note 19 for disclosure of restricted net assets.

(c)

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. Changes in estimates are recorded in the period they are identified.

The Group bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Significant accounting estimates reflected in the Group’s financial statements include expected credit loss for financial guarantee in scope of ASC 326, allowance for financial assets receivable, loan receivables, accounts receivables and contract assets, amount due from related parties, and others, valuation allowances for deferred tax assets, valuation of share-based awards, fair value measurement and impairment of investment, discount rate used to measure lease liabilities, variable consideration for revenue recognition.

(d)

Fair value

Fair value is considered to be the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability.

Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows:

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The carrying values of financial instruments, which consist of cash and cash equivalents, restricted cash, amounts due from/to related parties, accounts receivable and contract assets, financial assets receivable, loans receivable, prepaid expenses and other assets, deferred guarantee income and other liabilities are recorded at cost which approximate their fair value mainly due to the short-term nature of these instruments.

The Group does not have any assets or liabilities that are recorded at fair value subsequent to initial recognition on a recurring basis other than the short-term investment in convertible debt accounted for as available-for-sale debt security, which is classified as a level 2 fair value measurement. As of December 31, 2021 and 2022, the carrying amount of the short-term investment is approximate to its fair value. The Group does not have any assets or liabilities measured at fair value on a non-recurring basis during the periods presented.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(e)

Certain risks and concentrations

Financial instrument that potentially exposes the Group to significant concentration of credit risk primarily includes cash and cash equivalents, restricted cash, accounts receivable and contract assets, financial assets receivable, loans receivable, and amounts due from related parties. As of December 31, 2021 and 2022, there were 69% and 89% of the Group’s cash and cash equivalents and restricted cash held in major financial institutions located in the PRC, respectively, and the rest were held in overseas major financial institutions which management considers to be of high credit quality. Accounts receivable, contract assets and financial assets receivable are typically unsecured and are derived from revenue earned from customers in the PRC. The risk with respect to accounts receivable and contract assets, and financial assets receivable is mitigated by credit evaluations The Group performs on its customers and its ongoing monitoring process of outstanding balances. Credit risk of loans receivable is controlled by the application of credit approvals, credit limits and monitoring procedures.

For the year ended December 31, 2022, Customer A contributed 11% of total net revenue of the Group. As of December 31, 2022, Customer A accounted for 15% of accounts receivable and contract assets.

(f)

Foreign currency risk

The Renminbi (“RMB”) is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the Peoples Bank of China, controls the conversion of RMB into other currencies. The value of the RMB is subject to changes in central government policies, international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. The Group’s cash and cash equivalents and restricted cash denominated in RMB amounted to RMB127,902 and RMB257,041 as of December 31, 2021 and 2022, respectively.

(g)

Foreign currency translation

The functional currency of the Group dollars (“US$”). The functional currency of the Group’s subsidiaries and VIEs in the PRC is Renminbi (“RMB”). The functional currency of subsidiaries outside of PRC is typically their local currency. The determination of the respective functional currency is based on the criteria stated in Accounting Standard Codification (“ASC”) Topic 830, Foreign Currency Matters. The Group also uses RMB as its reporting currency. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency are measured and recorded in the functional currency at the exchange rate prevailing on the transaction date. Translation gains and losses are recognized in the statements of comprehensive income.

Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Equity amounts are translated at historical exchange rates. Revenues, expenses, gains and losses are translated using the average rates for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component in the statements of comprehensive income.

(h)

Convenience translation

The Group’s financial statements are stated in RMB. Translations of balances in the consolidated balance sheets, and the related consolidated statements of comprehensive income, shareholders’ equity and cash flows from RMB into US dollars as of and for the year ended December 31, 2022 are included solely for the convenience of the readers and have been made at the rate of US$1.00=RMB6.8972, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate or at any other rate.

(i)

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and demand deposits which are highly liquid and have original maturities of three months or less and are unrestricted as to withdrawal or use. The Group’s cash and cash equivalents were RMB182,551 and RMB291,018 as of December 31, 2021 and 2022, respectively.

(j)

Restricted cash

Restricted cash represents restricted deposit requested by custodian bank for business purpose. The Group’s restricted cash were RMB2,016 and RMB2,023 as of December 31, 2021 and 2022, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(k)

Guarantee arrangement

Primary guarantee

For certain off-balance sheet loans funded by institutional funding partners starting from year 2022, the Group provides commitment to compensate them in the event of borrowers’ default in the form of guarantee provided by 1) third-party financial guarantee companies or 2) financial guarantee company within the Group. Under 1), after the third-party guarantee companies repay the overdue amount, the Group is obligated to compensate third-party guarantee companies at an amount equal to the repayment made to the institutional funding partners. In either case, a third-party asset management company is obligated to compensate the Group at an amount equal to overdue amount and guarantee fee due to the Group. As of December 31, 2022, the maximum potential future payments, including all outstanding principal and interests for which the Group provides primary guarantee, that the Group could be required to make under the guarantee , which was not reduced by the effect of any amounts that may possibly be recovered, were RMB6,484,243.

Upon adoption of ASC Topic 326, deferred guarantee income represents the stand ready component of the guarantee contracts that are determined in accordance with ASC Topic 460. Since the guarantee is issued in a standalone arm's length transaction with an unrelated party, the deferred guarantee income recognized at the inception of the guarantee shall be the premium received or receivable by the guarantor as a practical expedient.

Subsequent to initial recognition, deferred guarantee income is released systematically as guarantee income in revenue in the consolidated statement of comprehensive income as the Group is released from the underlying risk.

Expected credit losses for guarantee obligation represents the expected life time credit losses of the guarantee contract that are determined in accordance with ASC Topic 326, which are initially recorded separate from and in addition to deferred guarantee income at the amount equal to the expected lifetime credit losses of the underlying loans covered by the guarantee obligation, and net off the expected recoveries from the third-party asset management company. The expected lifetime credit losses of the underlying loans are determined based on historical default experience, known and inherent risks in the portfolio, current economic conditions and future macroeconomic forecasts as well as other factors surrounding the credit risk of borrowers, and is collectively evaluated for impairment. For the years ended December 31, 2021 and 2022, the expected lifetime credit losses of the underlying loans covered by the guarantee obligation after netting off the expected recoveries from the third-party asset management company was inconsequential.

Subsequent to initial recognition, the expected credit losses are adjusted for changes in expected lifetime credit losses net off expected recoveries from the asset management company. The initial recognition and adjustments made to expected credit losses for guarantee obligation are recorded as Credit loss expense in the consolidated statement of comprehensive income.

Deferred guarantee income and Expected credit loss under ASC 326

The following table sets forth the activities of the Group’s obligations associated with the deferred guarantee income for the years ended December 31, 2021 and 2022:


	Year ended December 31,
	2021		2022
	RMB		RMB
Opening balances		—		—
Fair value of guarantee income at inception of new loans		—		326,086
Release of guarantee income		—		(49,568	)
Ending balances		—		276,518

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

Financial assets receivable

A financial assets receivable is recognized at loan inception at its fair value on a loan-by-loan basis. The Group establishes a credit loss allowance primarily based on expectations of lifetime credit losses based on historical default experience, known or inherent risks in the portfolio, current economic conditions and macroeconomics forecasts as well as other factors surrounding the credit risk of borrowers.

No allowance for credit losses for financial assets receivable was recognized for the years ended December 31, 2021 and 2022.

The following table presents the Group’s financial assets receivable as of December 31, 2021 and 2022:


	Year ended December 31,
	2021		2022
	RMB		RMB
Financial assets receivable		—		292,342
Allowance for credit losses for financial assets receivable		—		—
Financial assets receivable, net		—		292,342

Secondary guarantee

For certain off-balance sheet loans facilitated between borrowers and institutional funding partners, guarantee services are provided by third party guarantee companies who charge guarantee service fees directly from borrowers. Upon borrowers’ default, the third-party guarantee companies compensate institutional funding partners for unpaid principal and interest. In certain contracts, the Group provides commitment letter of balance complements to the institutional funding partners in the event that the guarantee companies are unable to fully reimburse the institutional funding partners. In some other contracts, the guarantee companies require a third party company to act as counter guarantor and require the Group to provide a commitment letter of balance complements to compensate third party guarantee companies in the event that the counter guarantor are unable to fully reimburse the guarantee companies. To manage the risk exposure, the Group in turn obtains a back-to-back guarantee from another third-party company. The fair value of guarantee liabilities of the Group as a secondary guarantor was inconsequential and no compensation was made by the Group during the years of 2020, 2021 and 2022. As of December 31, 2021 and 2022, the outstanding loan balance for which the Group provides secondary guarantee was RMB5,728,718 and RMB14,425,887, respectively.

(l)

Short term investment

The Group invested in convertible notes issued by a private company in 2019 and accounted for the investment as available-for-sale debt security at fair value with changes in fair value deferred in other comprehensive income.

The Group reviews its investments for other-than-temporary impairment and considers available quantitative and qualitative evidence in evaluating potential impairment. If the cost of an investment exceeds the investment’s fair value, the Group considers, among other factors, general market conditions, government economic plans, the duration and the extent to which the fair value of the investment is less than cost and the Group’s intent and ability to hold the investment to determine whether an other-than-temporary impairment has occurred.

If the investment’s fair value is less than the cost of an investment and the Group determines the impairment to be other-than-temporary, the Group recognizes an impairment loss based on the fair value in earnings. The net balance of short-term investment was nil as of both December 31, 2021 and 2022.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(m)

Current Expected Credit Losses

On January 1, 2020, the Group adopted FASB ASC Topic 326 – “Financial Instruments – Credit Losses” (“ASC Topic 326”) which replaces the incurred loss methodology with the current expected credit loss (“CECL”) methodology. The new guidance applies to financial assets measured at amortized cost, held-to-maturity debt securities and off-balance sheet credit exposures. For on-balance sheet assets, an allowance must be recognized at the origination or purchase of in-scope assets and represents the expected credit losses over the contractual life of those assets.

The Group adopted ASC Topic 326 using the modified retrospective approach for all in-scope assets. The adoption of ASC Topic 326 has no impact on the Group’s retained earnings as of January 1, 2020. Results for reporting periods beginning after January 1, 2020 are presented under ASC Topic 326 while prior periods continue to be reported in accordance with previously applicable U.S. GAAP. The Group’s in-scope assets are primarily loans receivable, accounts receivable and contract assets from customers and financial assets receivable from financial institutional partners. ASC Topic 326 requires the expected credit losses related to guarantee contracts be recorded separately from and in addition to the stand ready guarantee liability accounted for in accordance with ASC Topic 460. The guarantee obligation is separated into the expected credit losses of the guarantee contracts accounted for in accordance with ASC Topic 326, and deferred guarantee income.

In establishing the allowance for loans receivable, the Group considers historical losses, delinquency rate and other factors in pooling basis upon the use of the Current Expected Credit Loss Model (“CECL Model”) in accordance with ASC topic 326, Financial Instruments - Credit Losses. The Group writes off loans receivable as a reduction to the allowance for loans receivable when the loan principal and interest are deemed to be uncollectible. In general, loans receivable is identified as uncollectible when it is determined to be not probable that the balance can be collected.

The Group estimated the allowance for accounts receivables due from borrowers based on expected net accumulated loss rates for terms during which losses of such service fees are expected to occur, which are consistent with the terms during which the Group expects to collect service fees. The profile of the borrowers is homogeneous for each product type and as such, the Group applies a portfolio approach in accounting for credit risk. Accounts receivable for loan facilitation service and post-origination service to borrowers are identified as uncollectible if any repayment of the underlying loan is 90 days past due, and no other factor evidences the possibility of collecting the delinquent amounts. The Group wrote off aforementioned accounts receivable from borrowers and corresponding provisions if any repayment of the underlying loan is 90 days past due.

The Group establishes an allowance for accounts receivable and contract assets, and financial assets receivable, amounts due from related parties and other entities that are based on historical experience and other factors surrounding the credit risk of specific customers. Uncollectible receivables from institutional funding partners, amounts due from related parties and other entities are written off when a settlement is reached for an amount that is less than the outstanding historical balance or when the Group has determined the balance will not be collected.

(n)

Loans receivable

Loans receivable represents the loans extended directly to overseas individual borrowers with the Group’s own funds. The loans receivable is measured at amortized cost and recorded on the Group’s consolidated balance sheets.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(o)

Property and equipment

Property and equipment is generally stated at historical cost and depreciated on a straight-line basis over the estimated useful lives of the assets. Depreciation and amortization expense of long-lived assets are included in either origination and servicing expenses, selling and marketing expenses, general and administrative expenses, or research and development expenses as appropriate. Property and equipment consist of the following and depreciation is calculated on a straight-line basis over the following estimated useful lives are:


	Category		Estimated useful life
	Electronic equipment		3 years

	Office equipment & Furniture		5 years

	Motor vehicles		4 years

	Leasehold improvement		Shorter of the lease term or expected useful life

	Software		10 years

(p)

Long term investment

The Group applies the equity method of accounting to equity investments, in common stock or in-substance common stock, over which it has significant influence but does not own a majority equity interest or otherwise control. Significant influence is generally considered to exist when the Group has an ownership interest in the voting stock of the investee between 20% and 50%. Other factors, such as representation on the investee’s board of directors, voting rights, the impact of commercial arrangements, and the extent to which the Group guarantees the investee's obligations and is committed to provide additional funding are also considered in determining whether the equity method of accounting is appropriate. An investment in in-substance common stock is an investment in an entity that has risk and reward characteristics that are substantially similar to that entity’s common stock. The Group considers subordination, risks and rewards of ownership, and the existence of obligations to transfer value when determining whether an investment in an entity is substantially similar to an investment in that entity’s common stock. Under the equity method, the Group initially records its investment at cost. The difference between the cost of the equity investment and the amount of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill or as an intangible asset as appropriate, which is included in the equity method investment on the consolidated balance sheets. The Group subsequently adjusts the carrying amount of the investment to recognize the Group’s proportionate share of each equity investee’s net income or loss into consolidated statements of operations and comprehensive income after the date of acquisition. Unrealized gains on transactions between the Group and its affiliated companies are eliminated to the extent of the Group’s interest in the affiliated companies; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. When the Group’s share of losses in an affiliated company equals or exceeds its interest in the affiliated company, the Group does not recognize further losses, unless the Group has incurred obligations or made payments on behalf of the affiliated company. The Group makes an assessment of whether an investment is impaired based on performance and financial position of the investee as well as other evidence of market value at each reporting date. Such assessment includes, but is not limited to, reviewing the investee’s cash position, recent financing, as well as the financial and business performance. The Group recognizes an impairment loss equal to the difference between the carrying value and fair value in the consolidated statements of comprehensive income if any when such impairment is considered other than temporary. And the amount of such impairment loss was RMB49, nil, and RMB15,078 for the years ended December 31, 2020, 2021 and 2022.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(q)

Valued-added taxes (“VAT”)

The Group is subject to VAT at the rate of 6% given that they are classified as a general tax payer. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities.

(r)

Share-based compensation

Share-based payment transactions with employees are measured based on the grant date fair value of the equity instrument issued and recognized as compensation expense on a graded vesting basis, over the requisite service period, with a corresponding impact reflected in additional paid-in capital.

The expected term represents the period that share-based awards are expected to be outstanding, giving consideration to the contractual terms of the share-based awards, vesting schedules and expectations of future employee exercise behavior. Volatility is estimated based on annualized standard deviation of daily stock price return of comparable companies for the period before valuation date and with similar span as the expected expiration term. The Group adopted ASU 2016-09 and accounts for forfeitures of the share-based awards when they occur. Previously recognized compensation cost for the awards is reversed in the period that the award is forfeited. Amortization of share-based compensation is presented in the same line item in the consolidated statements of comprehensive income as the cash compensation of those employees receiving the award.

Modifications of the terms or conditions of the awards are treated as an exchange of the original awards for new awards. Incremental compensation cost is measured and recognized as the excess, if any, of the fair value of the modified award over the fair value of the original award immediately before the terms are modified. When the Group cancels unvested options and restricted share units (“RSUs”), the remaining unrecognized expenses are recognized immediately on the cancellation date.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition

The Group has adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified ASC Topic 606 on January 1, 2018 using the full retrospective method which requires the Group to present its financial statements for all periods as if Topic 606 had been applied to all prior periods.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps:

•

Step 1: Identify the contract (s) with a customer

•

Step 2: Identify the performance obligations in the contract

•

Step 3: Determine the transaction price

•

Step 4: Allocate the transaction price to the performance obligations in the contract

•

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation

Loan facilitation

Loan facilitated to individual investors

Prior to November 2020, the Group provided loan facilitation services and post-origination services on loans facilitated on its platform, which enabled individual investors to directly invest in loans that can be selected, at the individual investors’ discretion, from hundreds of new lending opportunities to pre-approved borrowers that were posted on the Group’s platform every day. Individual investors also had the option to use the automated investment programs whereby the funds were automatically allocated among pre-approved borrowers. The automated investment programs automatically reinvest individual investors’ funds as soon as a loan was repaid, enabling the individual investors to accelerate the reinvestment of cash flows without having to continually revisit the Group’s mobile application. Such business was officially ceased in November 2020.

The Group charged a substantial amount of service fees on the same day when the first and second monthly repayments of principal and interest were due.

The Group determined that both the individual investors and the borrowers were its customers. The Group assessed ability and intention to pay the service fees when they became due and determined if the collection of the service fees was probable, based on historical experiences as well as the credit due diligence performed on each borrower prior to loan origination. The Group considered the loan facilitation service and post origination service as two separate services. While the post-origination service was within the scope of ASC Topic 860, the ASC Topic 606 revenue recognition model was applied due to the lack of definitive guidance in ASC Topic 860. The loan facilitation service and post-origination service were two separate performance obligations under ASC Topic 606, as these two deliverables were distinct in that customers can benefit from each service on its own and the Group’s promises to deliver the services were separately identifiable from each other in the contract.

The Group determined the total transaction price to be the service fees chargeable according to the contracts, net of value-added tax.

The Group recognized revenue when (or as) the entity satisfied the service/ performance obligation by transferring the promised service (that is, an asset) to customers based on the underlying contract terms excluding consideration of impairment of contract assets or accounts receivable. Revenues from loan facilitation services were recognized at the time a loan was originated between the individual investors and the borrower and the principal loan balance was transferred to the borrower, at which time the facilitation service was considered completed. Revenues from post-origination services were recognized evenly over the term of the underlying loans as the post-origination services were a series of distinct services that were substantially the same and that had the same pattern of transfer to the individual investors.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition – continued

Loan facilitated to institutional funding partners

Since the third quarter of 2019, the Group provides service through its facilitation of loan transactions between borrowers and institutional funding partners. When the investors are institutional funding partners, the Group’s service mainly consist of performing credit assessment on the borrowers and matching the institutional funding partners with potential qualified borrowers and facilitating the execution of loan agreements between the parties. The Group assesses ability and intention to pay the service fees of the customers when they become due and determines if the collection of the service fees is probable, based on historical experiences as well as the credit due diligence performed before cooperation.

The Group determines the total transaction price to be the service fees chargeable according to the contracts, net of value-added tax. Under certain agreements, the transaction price includes variable consideration due to borrowers’ actual repayment to institutional funding partners. The Group estimates variable consideration for these contracts using the expected value approach on the basis of historical information. The Group identifies one performance obligation under ASC Topic 606, as the Group does not retain any further obligations after the facilitation of a loan.

The Group recognizes revenue when (or as) the entity satisfies the service/ performance obligation by transferring the promised service (that is, an asset) to customers based on the underlying contract terms excluding consideration of impairment of contract assets or accounts receivable. Revenues from loan facilitation services are recognized at the time a loan is originated between the institutional funding partners and the borrower and the principal loan balance is transferred to the borrower, at which time the facilitation service is considered completed.

Technical service

The Group does not provide post-origination service in such arrangements. The institutional funding partners typically engage third-party non-performing loan management entities to assist on the subsequent collection. The Group is in turn engaged by such non-performing loan management entities to provide information including risk profile and collection methods or plans for the borrowers on its platform to the non-performing loan management entity basing on the historical records and experiences that the Group has as of the date when each loan is successfully extended to borrower.

The Group determines the total transaction price to be the service fees chargeable according to the contracts, net of value-added tax. Before May 2020, the service fee is calculated based on the facilitated loan amount and the agreed charge rate, i.e. the consideration promised in the contract includes fixed amounts. However, starting from May 2020, the Group reached a mutual agreement with the customers for a new settlement method. The service fee is calculated based on the estimated overdue amount of underlying loans and the agreed charge rate. The transaction price included variable consideration due to overdue amount of the borrowers. The Group reflected in the transaction price the borrower’s estimated delinquent risk and estimated variable consideration for these contracts using the expected value approach on the basis of historical information and current trends of the delinquency of the borrowers.

Revenue from technical services is recognized at the time a loan is successfully originated by the institutional funding partner as the technical services are completed at that time.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition – continued

Other revenue

Investor referral

The Group provides referral services in respect of investment products offered by the financial service providers on Youdao wealth platform. The Group considers the financial service providers to be its customers, and receives service fees from the customers primarily based on the transaction price of the investment successfully subscribed by online investors. After the online investors subscribe the products referred by the Group, the Group does not retain any further obligations. The price for each referral charged to the financial service providers is a fixed price as pre-agreed in the service contract. Revenue is recognized when the online investors successfully subscribed to investment products from financial service providers.

Interest income

Interest income is recognized over the terms of loans receivable using the effective interest rate method under ASC Topic 310. Interest income is not recorded when reasonable doubt exists as to the full, timely collection of interest income or principal. Interest collected upfront at the loan inception is recorded as deferred revenue.

Business and Operational Support Services

The Group provides a series of service to a related party, including software development, risk control, marketing support and IT assistance. The revenue is recognized over time as services are continuously performed during the service periods.

Sales of hardware

The Group also generates revenue from the sale of hardware directly to customers since the year 2021 but terminated such revenue stream along with the disposal of Shanghai Bweenet in December 2021. The revenue is recognized at a point in time following the transfer of control of goods to the customer, which typically occurs upon the delivery to the customer.

Others

The Group charged service fees to individual investors for using the automated investment programs which equal to a certain percentage of the actual return in excess of the expected rate of return from the investments, payable at the end of the investment period. No application fee was charged to borrowers or individual investors.

Under ASC Topic 606, service fees derived from individual investors using the automated investment programs were initially estimated based on historical experience of returns on similar investment products and current trends. The service fees were recognized on a straight-line basis over the term of the investment period. The service fees related to the automated investment programs were due at the end of the investment period. The investment period refers to the period of time when the investments are matched with loans and are generating returns for the individual investors. The Group recorded service fees only when it becomes probable that a significant reversal in the amount of cumulative revenue will not occur. The revenue of service fee recognized under ASC Topic 606 for the years ended December 31, 2020, 2021 and 2022 was RMB23,815, nil and nil, respectively.

Other revenue also included revenue from penalty fees for loan prepayment and late payment, and service fees for transferring loans between investors on the Group’s platform, and guarantee income released from deferred guarantee income systematically over the term of the loans subject to guarantee obligation under ASC Topic 460. Under ASC Topic 606, penalty fees were contingency-based variable considerations and constrained by the occurrence of delinquency or prepayment. They were recognized when the uncertainty associated with the variability is resolved, that is, when the underlying event occurs and the fees are collected. The service fees for transferring loans between individual investors were recognized when the transfer is completed and service fees are collected from the individual investors.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition - continued

The following table illustrates the disaggregation of revenue by product and services the Group offered in 2020, 2021 and 2022, respectively:


For the year ended December 31, 2020	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		943,084		112,731		—		1,055,815
Other services		—		—		244,345		244,345
Total		943,084		112,731		244,345		1,300,160


For the year ended December 31, 2021	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		1,470,170		—		—		1,470,170
Other services		—		—		310,320		310,320
Total		1,470,170		—		310,320		1,780,490


For the year ended December 31, 2022	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		2,881,725		—		—		2,881,725
Other services		—		—		389,689		389,689
Total		2,881,725		—		389,689		3,271,414

Incentives to individual investors

The Group provided incentives to individual investors using the automated investment program in a form that either reduces the amount of investment required to purchase financial products or entitles them to receive higher interest rates in the products they purchase and pays the incentive to the investors upon maturity of the investment program. If the investors early terminate the program and withdraw the investment, no incentive will be paid. Such incentives are recorded as a reduction of revenue over the investment period and the incentive accrued not paid are recorded as refund liabilities based on the management’s best estimate. The Group was released from the obligation under the refund liabilities and recognized as other revenue of amounting to 77,045, nil and nil for the years ended December 31, 2020, 2021 and 2022, respectively.


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Incentives paid to:
New investors		—		—		—
Returning investors		202,463		—		—
Total incentives paid to investors		202,463		—		—

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition – continued

Accounts receivable and contract assets

Contract assets represent the Group’s right to consideration in exchange for services that the Group has transferred to the customer before payment is due. The Group only recognizes accounts receivable and contract assets to the extent that the Group believes it is probable that it will collect substantially all of the consideration to which it will be entitled to in exchange for the services transferred to the customer.

Accounts receivable and contract assets are stated at the historical carrying amount net of write-offs and allowance for collectability in accordance with ASC Topic 326. The Group established an allowance for receivables and contract assets based on estimates, which incorporate historical experience and other factors surrounding the credit risk of specific type of customers. The Group evaluates and adjusts its allowance for receivables and contract assets on a quarterly basis or more often as necessary. Revenue recognized for the years ended December 31, 2020, 2021 and 2022 from performance obligations satisfied (or partially satisfied) in prior periods pertaining to adjustments to variable consideration due to the change of estimated return on investment periods, change of estimated prepayment rate and referral fees was immaterial.

The Group determines that the acquisition cost paid based on the amount of loan facilitated represents costs to obtain a contract qualifying for capitalization since these payments are directly related to sales achieved during a period. Such cost was not material during the years presented.

(t)

Employee defined contribution plan

Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Group makes contributions to the government for these benefits based on a certain percentage of the employee’s salaries. The Group has no legal obligation for the benefits beyond the contributions. The total amount that was expensed as incurred was RMB37,665, RMB57,363 and RMB68,145 for the years ended December 31, 2020, 2021 and 2022, respectively.

(u)

Origination and servicing expense

Origination and servicing expenses primarily consist of variable expenses including costs related to credit assessment, user and system support, payment processing services and collection, associated with facilitating and servicing loans, salaries and benefits and share-based compensation for the personnel who work on credit checking, data processing and analysis, loan origination, user and system support and loan collection.

(v)

Sales and marketing expenses

Sales and marketing expenses primarily consist of variable marketing and promotional expenses, including those related to borrower acquisition and retention, commission fees to those who introduce institutional funding partners, and general brand and awareness building. Salaries and benefits expenses as well as share-based compensation related to the Group’s sales and marketing personnel and other expenses related to the Group’s sales and marketing team are also included in the sales and marketing expenses. The Group’s borrower acquisition expenses include charges by third-party online channels for online marketing services such as search engine marketing, search engine optimization, information feeds, and referral fees charged by other parties relating to borrower acquisition. The Group expenses all advertising costs as incurred and classifies these costs under sales and marketing expenses. For the years ended December 31, 2020, 2021 and 2022, the advertising expenses were RMB21,697, RMB6,695 and RMB8,437, respectively.

(w)

Government grant

Government grants are primarily referred to the amounts received from various levels of local governments from time to time which are granted for general corporate purposes and to support its ongoing operations in the region. The grants are determined at the discretion of the relevant government authority and there are no restrictions on their use. The government subsidies are recorded as other income in the period the cash is received and when all the conditions for their receipt have been satisfied. The government grants received by the Group amount to RMB6,773, RMB19,762 and RMB22,306 for the years ended December 31, 2020, 2021 and 2022, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(x)

Income taxes

Current income taxes are provided for in accordance with the laws of the relevant tax authorities.

Deferred income taxes are provided using assets and liabilities method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the management consider all positive and negative evidence, including future reversals of projected future taxable income and results of recent operation. Deferred tax assets are then reduced by a valuation allowance through a charge to income tax expense when, in the opinion of management, it is more like than not that a portion of or all of the deferred tax assets will not be realized.

The Group accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of the benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained (defined as a likelihood of more than fifty percent of being sustained upon an audit, based on the technical merits of the tax position), the tax position is then assessed to determine the amount of benefits to recognize in the consolidated financial statements. The amount of the benefits that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.

The Group is subject to tax in local and foreign jurisdictions. As a result of its business activities, the Group will file tax returns that are subject to examination by the relevant tax authorities. Tax returns of the Group's major subsidiaries in PRC, Hong Kong, Singapore, Indonesia and Nigeria remain subject to examination by relevant tax authorities for five years, seven years, four years, five years and indefinite years, respectively, from the date of filing.

(y)

Comprehensive income

Comprehensive income includes all changes in equity except those resulting from investments by owners and distributions to owners. For the years presented, total comprehensive income included net income and foreign currency translation adjustments.

(z)

Income per share

Basic income per share is computed by dividing net income attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period.

Diluted income per ordinary share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. Ordinary share equivalents of stock options are calculated using the treasury stock method. Ordinary share equivalents are excluded from the computation in income periods should their effects be anti-dilutive.

(aa)

Segment reporting

The Group uses the management approach to determine operating segment. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (‘‘CODM’’) for making decisions, allocation of resource and assessing performance.

The Group’s CODM has been identified as the Chief Executive Officer who reviews the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group. The Group operates and manages its business as a single reportable segment.

The Group’s long-lived assets are substantially all located in the PRC and substantially all of the Group’s revenues are derived from within the PRC. Therefore, no geographical segments are presented.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(ab) Operating leases

The Group leases administrative office spaces under operating leases and accounts for the leases under ASC 842. The Group determines whether an arrangement constitutes a lease and records lease liabilities and right-of-use assets on its consolidated balance sheets at the lease commencement. The Group measures its lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or its incremental borrowing rate, which is the estimated rate the Group would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. The Group estimates its incremental borrowing rate based on an analysis of publicly traded debt securities of companies with credit and financial profiles similar to its own. As of December 31, 2022, the Group’s operating leases had a weighted average remaining lease term of 1.2 years and a weighted average discount rate of 4.75%. The Group measures right-of-use assets based on the corresponding lease liability adjusted for payments made to the lessor at or before the commencement date, and initial direct costs it incurs under the lease. The Group considers only payments that are fixed and determinable at the time of lease commencement. The Group begins recognizing operating lease expense when the lessor makes the underlying asset available to the Group. After considering the factors that create an economic incentive, the Group did not include renewal option periods in the lease term for which it is not reasonably certain to exercise.

Additionally, the Group elects not to recognize lease with lease term of 12 months or less at the commencement date in the consolidated balance sheets and records its operating lease expense in its consolidated statements of operations on a straight-line basis over the lease term.

(ac) Treasury shares

The Group accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury shares account in the consolidated balance sheets. The treasury shares account includes nil and 2,372,596 ordinary shares mainly for the purpose of exercise or vest of share-based compensation plans as of December 31, 2021 and 2022, respectively.

(ad) Recent accounting pronouncements

Recently Adopted Accounting Pronouncements

In December 2019, the FASB issued ASU 2019-12, a new accounting standard update to simplify the accounting for income taxes. The new guidance removes certain exceptions for recognizing deferred taxes for investments, performing intra period allocation and calculating income taxes in interim periods. It also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. This guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. The Group adopted the new standard beginning January 1, 2022 with no material impact on the consolidated financial statements and related disclosures.

Recent Accounting Guidance Not Yet Adopted

In June 2022, the FASB issued ASU 2022-03, “ Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. “The ASU improves financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting entities that have investments in equity securities measured at fair value that are subject to contractual restrictions preventing the sale of those securities. For public business entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. For all entities except investment companies as defined under Topic 946, Financial Services—Investment Companies, the amendments in this ASU should be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. An entity that qualifies as an investment company under Topic 946 should apply the amendments to an investment in an equity security subject to a contractual sale restriction that is executed or modified on or after the date of adoption. An investment company with an equity security subject to a contractual sale restriction that was executed before the date of adoption should continue to account for the equity security until the contractual restrictions expire or are modified using the accounting policy applied before the adoption of the amendments (that is, if an investment company was incorporating the effects of the restriction in the measurement of fair value, it would continue to do so). The Group is currently assessing the impact that ASU 2022-03 will have on its future consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(ae) Impact of COVID-19

The COVID-19 pandemic spread in China, Europe and other parts of the world, and COVID-19 restrictions and controls in China were in effect until the end of 2022. Although the Chinese government has now lifted the restrictions related to COVID-19, the COVID-19 pandemic still has negatively impacted, and may continue to negatively impact, the global economy and disrupt normal business activity, which may have an adverse effect on our results of operations.

As of December 31, 2022, the Group did not experience a significant negative impact of COVID-19 on its operations, capital, and financial position.

SHORT-TERM INVESTMENTS, NET	12 Months Ended
SHORT-TERM INVESTMENTS, NET	Dec. 31, 2022
Short-Term Investments [Abstract]
SHORT-TERM INVESTMENTS, NET	3. SHORT-TERM INVESTMENTS, NET The Group entered into an investment agreement with Cornerstone Management, Inc. (“Cornerstone”), a third-party private company, on July 15, 2019 to purchase its convertible notes for a cash consideration of US$10,000 with annual interest rate of 8%. The term of the convertible note was one year. Cornerstone was primarily engaged in private equity fund management. The Group had the right to convert the debt to Cornerstone’s ordinary shares upon its successful initial public offering at the lower price of the listing price or closing price of the exercise date, wherein the principle and the interest incurred shall be counted into total investment funds. No embedded derivative was bifurcated and the investment is recorded as available-for-sale considering its in-substance debt nature. However, with the Cornerstone’s financial situation deterioration, the Group determined that the short term investment was not recoverable and full impairment amounted to RMB67,169 was provided in the year ended December 31, 2020. The net balance of short-term investment was nil as of both December 31, 2021 and 2022.

LOANS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

LOANS RECEIVABLE, NET

The loans receivable, net consists of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Loans receivable		27,584			21,142
Allowance for credit losses		(27,255	)		(17,991	)
Loans receivable, net		329			3,151

The following table summarizes the balances of loans receivable by due date as of December 31, 2021 and 2022:


	As of December 31,
	2021		2022
	RMB		RMB
Undue		274		632
1-14 days past due		28		221
15 days or greater past due		27		2,298
Loans receivable, net		329		3,151

The movement of the allowance for credit losses for the years ended December 31, 2020, 2021 and 2022 are as follows:


	Year ended December 31,
	2020			2021			2022
				RMB			RMB
Balance at beginning of the year		—			(27,700	)		(27,255	)
Current year credit losses		(27,498	)		(27,735	)		(18,609	)
Current year write off		—			9,087			27,665
Disposal of a subsidiary		—			18,236			—
Foreign currency exchange		(202	)		857			208
Balance at end of the year		(27,700	)		(27,255	)		(17,991	)

ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET

Accounts receivable consists of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Accounts receivable:
Receivables for loan referral service from institutional funding partners		315,895		1,313,288
Less: allowance for credit losses		—		(2,539	)
Total accounts receivable		315,895		1,310,749

The movement of allowance for uncollectible receivables for the years ended December 31, 2020, 2021and 2022 are as follows:


	Year ended December 31,
	2020			2021		2022
	RMB			RMB		RMB
Balance at the beginning of the year		60,679			—		—
Current year credit losses		49,231			—		2,539
Current year write off		(109,910	)		—		—
Balance at end of the year		—			—		2,539

Contract assets consists of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Contract assets		186,536		421,469
Less: Allowance for credit losses		—		—
Contract assets, net		186,536		421,469

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the followings:


	As of December 31,
	2021		2022
	RMB		RMB
Security deposits*		—		414,400
Advances		19,414		16,452
Others		42,841		41,978
		62,255		472,830

*The balances represent security deposits set aside as requested by certain institutional funding partners, held in deposit accounts with the institutional funding partners for provision of the primary guarantee to these funding partners.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the followings:


	As of December 31,
	2021			2022
	RMB			RMB
Leasehold improvement		8,093			8,093
Motor vehicles		1,993			3,038
Electronic equipment		58,561			74,360
Office equipment & furniture		7,226			7,844
Software		1,407			1,407
Total costs		77,280			94,742
Less: accumulated depreciation and amortization		(68,180	)		(75,842	)
Property and equipment, net		9,100			18,900

For the years ended December 31, 2020, 2021 and 2022, depreciation expenses were RMB20,483, RMB13,077 and RMB7,668 respectively.

LONG-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2022

Long-Term Investments [Abstract]

LONG-TERM INVESTMENTS

On January 5, 2021, Noble Fintech disposed its 6% of the equity interests in Aguila Information, S.A.P.I. de C.V. (“Aguila Information”) to a certain minority shareholder. Following the completion of the transaction, the equity interest of Aguila Information owned by the Group decreased from 51% to 45%. The Group thus deconsolidated Aguila Information and applied equity method to account for the investment in Aguila Information. For the years ended December 31, 2021 and 2022, the Group recognized the Group’s proportionate share of the equity investee’s net gain into earnings in the amount of RMB8,457 and RMB9,151 in accordance with ASC Topic 323. The Group received dividend return of the long-term equity investment of RMB2,586 in June 2021. As of December 31, 2021 and 2022, the balance of this investment was RMB5,819 and RMB15,078. As a result of there was disagreement between the Group and Aguila Information on business strategy, the Group determined that the this investment was not recoverable and full impairment amounted to RMB15,078 was provided in the year ended December 31, 2022.

On March 13, 2020, the Group, through its subsidiary, Geerong, and another independent purchaser entered into a share purchase agreement with China Smartpay Group Holdings Limited (“China Smartpay”), pursuant to which, among others, Geerong agreed, subject to certain conditions, to acquire 35 ordinary shares of Keen Best Investment Limited (“Keen Best”), representing 35% equity interest in Keen Best, a wholly-owned subsidiary of China Smartpay for an amount of RMB91,957. Keen Best and its subsidiaries are principally engaged in internet microcredit business in the PRC.

On September 29, 2020, the Group closed the acquisition of the shares by offsetting the consideration payable against the receivables held by the Group due from China Smartpay. The difference between the cost of the investment and the underlying equity in net assets, referred as the basis difference, was RMB1,508 related to equity method goodwill upon acquisition of Keen Best’s equity interest. For the years ended December 31, 2020, 2021 and 2022, the Group recognized the Group’s proportionate share of the equity investee’s net loss into earnings in accordance with ASC Topic 323 in the amount of RMB822, RMB806 and RMB1,211, respectively. There is no impairment on the investment as of December 31, 2022. As of December 31, 2021 and 2022, the balance of this investment was RMB84,709 and RMB90,497, respectively.

In May 2019, the Group acquired 24.9% ordinary shares of SG Fintech Holding Joint Stock Company (“SG Fintech”) for cash consideration of RMB3,400. In January 2020, the Group acquired additional 24.1% ordinary shares of SG Fintech for cash consideration of RMB3,378. The equity method accounting was applied. SG Fintech is a Vietnam enterprise targeting to explore micro-finance loan products and services to serve the segments that are currently underserved in the market. For the year ended December 31, 2020, the Group recognized the Group’s proportionate share of the equity investee’s net loss into earnings in the amount of RMB6,687 and recorded an impairment of RMB49 to fully impair this investment. As of December 31, 2020, 2021 and 2022, the balances were nil.

ACQUISITION

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

ACQUISITION

On April 30, 2021, the Group acquired 95% equity interests in Shanghai Bweenet for a total consideration of RMB95,000. Such consideration is transferred through cash of RMB8,513 to certain original shareholders and a series of capital injection amounting to RMB86,487 into Shanghai Bweenet during 2021. As a result of above acquisition, the Group was expected to diversify its business portfolio.

The acquisition of Shanghai Bweenet had been accounted for as a business combination and the results of operations of Shanghai Bweenet have been included in the Group’s financial statements from the acquisition date. The Group made estimates and judgments in determining the fair value of acquired assets and liabilities, based on an independent valuation report and management’s experiences with similar assets and liabilities.

The allocation of the purchase price is as follows:


	Amount
	RMB
Cash and cash equivalents		1,145
Accounts receivable		39,952
Inventories		38,590
Prepaid expenses and other current assets		37,474
Short-term loan		(4,000	)
Accounts payable		(12,994	)
Payroll and welfare payables		(337	)
Tax payables		3,600
Accrued expenses and other current liabilities		(3,430	)
Noncontrolling interests		(5,000	)
Total Consideration		95,000

Shanghai Bweenet’s net revenue and net loss, included in the Group’s consolidated statements of comprehensive income, for the year ended December 31, 2021 are RMB26,837 and RMB1,744 since the acquisition date.

Prior to the acquisition, Shanghai Bweenet did not prepare its financial statements in accordance with US GAAP. The Group determined that the cost of reconstructing the financial statement of Shanghai Bweenet for the periods prior to the acquisition outweighed the benefits. Based on an assessment of the financial performance and a comparison of Shanghai Bweenet’s and the Group’s financial performance for the fiscal year prior to the acquisition, the Group did not consider Shanghai Bweenet on its own to be material to the Group. Thus, the Group’s management decided not to present such pro forma financial information with respect to the results of operations of the Group for the business combination.

DISPOSAL OF SHANGHAI CAIYIN

12 Months Ended

Dec. 31, 2022

Other Payable Relates To The Disposal Of Subsidiaries [Abstract]

DISPOSAL OF SUBSIDIARIES

10.

DISPOSAL OF SUBSIDIARIES

On December 29, 2021, the Group entered into a sale agreement to transfer its 95% equity interest held in Shanghai Bweenet, for further focus on its principal business. The 95% equity was transferred to Shenzhen Rongxinbao, an independent third-party guarantee company, and the consideration was RMB93,343, which was net-settled with the payables the Group owed to Shenzhen Rongxinbao in connection with the disposal of Shanghai Caiyin in year 2019. The Group derecognized all the assets, liabilities and equity components of Shanghai Bweenet and no gain or loss was recognized for the transaction.

On December 29, 2021, the Group entered into a sale agreement to transfer its 70% equity interest held in Shanghai Zhundian Enterprise Service Co., Ltd. (“Shanghai Zhundian”) (formerly known as “Shanghai Limahui E-Commerce Co., Ltd”) to Shenzhen Rongxinbao, an independent third-party guarantee company for a consideration of RMB1,037, which was net-settled with the payables the Group owed to Shenzhen Rongxinbao in connection with the disposal of Shanghai Caiyin in year 2019. The Group recognized disposal loss of RMB3,592 for the transaction.

On January 5, 2021, Noble Fintech transferred its 6% of the equity interests in Aguila Information to a certain minority shareholder who did not own the majority interest after the transaction. The Group deconsolidated Aguila Information (see Note 8). As Aguila Information was in net deficit position as of December 31, 2020, the consideration of the transfer was one Mexican Peso. The Group recognized disposal gain of RMB1,256 for the transaction.

In September, 2019, Shanghai Wuxingjia entered into an agreement (the “Agreement”) with Shenzhen Rongxinbao, and Shanghai Jiayin, which wholly owns the equity interest of Shanghai Caiyin. Pursuant to the Agreement, Shanghai Jiayin agreed to transfer all of its equity interest in Shanghai Caiyin to Shenzhen Rongxinbao and the Group revises the terms of its collaboration with Shanghai Caiyin. As a result, the Group deconsolidated Shanghai Caiyin (Note 2(b)). Major line items of Shanghai Caiyin as of August 31, 2019 included cash and cash equivalents, restricted cash, contract assets, liabilities from the investor assurance program and tax payable. As Shanghai Caiyin was in net deficit position as of August 31, 2019 due to its collaboration with the Group, the Group also agreed to waive Shanghai Caiyin’s payables to the Group of RMB1,973,613 and pay a total transaction price of RMB1,078,686, of which RMB372,085 is contingent upon Shanghai Caiyin’s liability status in the period preceding December 30, 2022 subject to the cap amount of RMB372,085, RMB255,064 and RMB117,021 on December 30, in each of the three years ending 2022, respectively. The remaining amount of the equity transfer consideration shall be settled through the service fee Shenzhen Rongxinbao collected on behalf of the Group.

For the years ended December 31, 2020, 2021 and 2022, “Gain from de-recognition of other payable associated with disposal of Shanghai Caiyin” of RMB117,021, RMB138,043 and RMB117,021 were derived from the release of contingent consideration payable. As of December 31, 2021 and 2022, the payable related to the disposal of Shanghai Caiyin was RMB322,028 which consisted of fixed consideration payable of RMB205,007 and contingent consideration payable of RMB117,021, and RMB188,300 which was fixed consideration payable, respectively.

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

11.

SHARE-BASED COMPENSATION

The following table presents the classification of the Group’s share-based compensation expenses:


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Origination and servicing		3,167		3,159		2,408
General and administrative		8,870		5,021		33,740
Research and development		10,170		5,461		6,038
Sales and marketing		8,445		1,545		362
Total		30,652		15,186		42,548

Share Options

In September 2016, Jiayin Finance approved an employee incentive plan (the “2016 Plan”) and utilized a limited liability partnership (“LLP”) as a vehicle to hold 13,500,000 shares that will be used under the 2016 Plan. The shares were contributed by the Founder, representing 27% of Jiayin Finance’s total outstanding shares at the time. A company controlled by the Founder is the general partner (“GP”) of the LLP.

The purpose of the LLP is to allow employees of the Group to receive share-based incentives. The LLP has no activities other than administrating the 2016 Plan and does not have any employees. On behalf of the Group and subject to approval of board of director of the Company, the Founder, as the controller of LLP has the authority to select the eligible participants to whom awards will be granted; determine the number of shares granted; and establish the terms, conditions and provision of such awards.

The 2016 Plan allows the grantees to hold options to purchase LLP shares from the GP or the designated persons to indirectly hold the equity shares of Jiayin Finance.

In September 2016, Jiayin Finance granted options to acquire certain LLP shares, equivalent of 13,321,500 ordinary shares of Jiayin Finance with the exercise price of RMB3.5 per share to employees of the Group pursuant to the 2016 Plan. Options have a 4.5-year life and vest at 15%, 25%, 30%, and 30% respectively at March 31, 2017, 2018, 2019 and 2020 respectively.

In October 2018, Jiayin Finance granted options to acquire certain LLP shares, equivalent of 2,851,600 ordinary shares of Jiayin Finance with the exercise price of RMB3.5 per share to employees of the Group pursuant to the 2016 Plan. Options have a 4.5-year life and vest at 15%, 25%, 30%, and 30% respectively at March 31, 2019, 2020, 2021 and 2022 respectively.

11.

SHARE-BASED COMPENSATION – continued

For illustration purposes, all the share information disclosed in this section refers to the shares of Jiayin Finance the grantees are entitled through LLP shares. The additional grants in October 2018 include the 2,851,600 shares from options forfeited in relation to the options granted in September 2016, which were automatically released to the 2016 Plan.

The awards are in substance share-based expenses incurred by the controlling Founder on behalf of the Company. The related expenses are reflected in the Group’s consolidated financial statements as share-based compensation expenses with an offsetting to additional paid-in capital. Given the shares owned by the LLP for the purpose of the 2016 Plan are existing outstanding shares of Jiayin Finance, the option does not have dilution effect on income per share (see Note 14).

In February 2019, the Group adopted the 2019 Share Incentive Plan (“2019 Plan”), effectively upon the completion of the Company’s initial public offering (“IPO”) to replace the 2016 Plan on a 4:1 ratio. The 2019 Plan contains performance vesting condition related to the operation results of the Group and the business department the grantee belongs to, as well as the grantee’s individual performance. The modification did not result in any incremental value. In connection with the adoption of 2019 Plan, the Group cancelled 2,377,000 and 1,169,000 share options granted in September 2016 and October 2018, respectively. Total unrecognized share-based compensation expense of RMB39,390 associated with the cancelled options was immediately recognized in the consolidated statement of comprehensive income upon cancellation for the year ended December 31, 2019.

In November, 2019, the Group granted four batches options equivalent of 288,000 share options of Jiayin Group with the exercise price of RMB3.5 per share to employees pursuant to the 2019 Plan.

In November, 2020, the Group granted four batches options equivalent of 1,583,000 share options of Jiayin Group with the exercise price of RMB3.5 per share to employees pursuant to the 2019 Plan.

In August, 2021, the Group granted one batch options equivalent of 108,400 share options of Jiayin Group with the exercise price of RMB3.5 per share to a then employee pursuant to the 2019 Plan. The options were fully exercised in year 2021.

The Group uses a binominal pricing model to estimate the fair value of the above options granted under the 2019 Plan. The model requires the input of subjective assumptions including the estimated expected stock price volatility, dividend yield, time to maturity and the exercise multiple. For expected volatilities, as the length of time has been short since Company went to public, the Group has made reference to the historical price volatilities of several comparable companies in the same industry as the Group. For the exercise multiple, it is based on management’s estimation, which the Group believes is representative of the future exercise pattern of the options. The risk-free rate for periods within the contractual life of the option is based on the China or US Government Bond with maturity similar to the maturity of the options as of valuation.

The following assumptions were applied to estimate the fair value of the options granted in 2020 at the date of grant:


		November 2020
Average risk-free rate of interest		0.23%-0.60%
Estimated volatility rate		49.74%-53.91%
Exercise multiples		2.8
Dividend yield		0.0%
Time to maturity		0-3 years
Fair value per underlying ordinary share		RMB18.33

The weighted average grant date fair value of options granted during the years ended December 31, 2020, 2021 and 2022 was RMB14.78 per share, RMB18.60 per share and nil, respectively.

11.

SHARE-BASED COMPENSATION – continued

The summary of the aggregate option activities and information regarding options outstanding for the years ended as of December 31, 2021 and 2022 is as follows:


	Number of Options (in ‘000s)			Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Aggregate Intrinsic Value
				RMB		Years		RMB
Options outstanding at December 31, 2021		1,751			3.5		1.91		45,349
Granted		—			—		—		—
Exercised		(637	)
Forfeited		(220	)
Options outstanding at December 31, 2022	894			3.5		1.27			16,076
Options exercisable at December 31, 2022	488			3.5		0.4			9,229
Options vested or expected to be vested at December 31, 2022	894			3.5		1.27			16,076

Total share-based compensation cost for the Share Options amounted to RMB6,855 for the year ended December 31, 2022. As of December 31, 2022, there was RMB4,886 in total unrecognized compensation cost, net of estimated forfeitures, related to non-vested stock options, which is expected to be recognized over a weighted average period of 1.27 years.

RSUs

In September, 2022, the Group granted shares ranging from six to seven batches equivalent of 2,880,000 RSUs of Jiayin Group to employees pursuant to the 2019 Plan.

In December, 2022, the Group granted 3 batches shares equivalent of 1,200,000 RSUs of Jiayin Group to employees pursuant to the 2019 Plan.

The following table sets forth the Group’s RSUs activities under all incentive plans for the years ended December 31, 2022:


	Number of RSUs (in ‘000s)			Weighted Average Grant-Date Fair Value
				RMB
Unvested at December 31, 2021		—			—
Granted		4,080			16.69
Vested		(2,020	)		16.59
Canceled/Forfeited		(160	)		16.66
Unvested at December 31, 2022		1,900			16.72

Total share-based compensation cost for the RSUs amounted to RMB35,693 for the year ended December 31, 2022. As of December 31, 2022, there was RMB29,720 unrecognized compensation cost, related to unvested restricted shares, which are to be recognized over a weighted average vesting period of 1.21 years. Total unrecognized compensation cost may be adjusted for future changes in estimated forfeitures. the Group determined the fair value of RSUs based on its stock price on the date of grant.

INCOME TAXES

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

12.

INCOME TAXES

Income tax expense consists of the following:


	Year ended December 31,
	2020		2021			2022
	RMB		RMB			RMB
Current income tax expense:		83,216		141,578			177,720
Deferred income tax expense (benefit):		25,595		(15,854	)		(22,322	)
Total income tax expense		108,811		125,724			155,398

Cayman Islands

Jiayin Group Inc. is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, Jiayin Group Inc. is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands.

Hong Kong

The Company subsidiary, Geerong (HK) Limited, is located in Hong Kong. The first 2.0 million Hong Kong dollars of profits it earned are subject to be taxed at an income tax rate at 8.25%, while the remaining profits will continue to be taxed at the existing tax rate, 16.5%. Additionally, payments of dividends by the subsidiary incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax. No income tax provision has been made in the consolidated financial statements as it has no assessable income for the years ended December 31, 2020, 2021 and 2022, respectively.

12.

INCOME TAXES – continued

PRC

Under the Law of the People’s Republic of China on Enterprise Income Tax (“EIT Law”), the Group’s subsidiaries and VIEs incorporated in the PRC are subject to statutory rate of 25%. High-technology enterprises may obtain a preferential tax rate of 15% provided they meet the related criteria. An enterprise’s qualification as a “high and new technology enterprise” (“HNTE”) is reassessed by the relevant PRC governmental authorities every three years. Geerong Yunke Information Technology Co., Ltd. and Jiayin Shuke Information Technology Co., Ltd. was entitled for a preferential income tax rate of 15% from 2022 to 2024 as they are qualified as HNTE. Shanghai Chuangzhen Software Co., Ltd. has been qualified as an eligible software enterprise. As a result of this qualification, it is entitled to a tax holiday of a full exemption for year 2020 and 2021 in which its taxable income is greater than zero, followed by a three-year 50% exemption.

Mexico

Aguila Information incorporated in Mexico was subject to corporate income tax at 30%. On January 5, 2021, Aguila Information was deconsolidated by the Group (see Note 8).

Indonesia

The Group’s subsidiary incorporated in Indonesia is subject to Indonesia Income (“CIT”) law. In accordance with the CIT law, an Indonesian resident is subject to worldwide income tax. Corporate income tax is calculated based on corporate taxable income (income less deductible expenses / expenses after fiscal adjustment), and the applicable CIT rate is 25%. Based on Government Regulation No.1 Year 2020 Jo No.30 Year 2020, Corporate Income Tax was adjusted from 25% to 22% for fiscal year 2020 and 2021, and next is adjusted to 20% for fiscal year 2022.

Nigeria

The Group’s subsidiary incorporated in Nigeria is subject to Nigerian Company Income Tax (“NCIT”) law. In accordance with the NCIT law, a Nigerian Company is subject to worldwide income tax. Corporate income tax is calculated based on corporate taxable income (income less deductible expenses / expenses after fiscal adjustment), and the applicable NCIT rate is 30%.

The following table sets forth the significant components of the deferred tax assets and deferred tax liabilities:


	As of December 31,
	2021			2022
	RMB			RMB
Deferred tax assets
Payroll and welfare payable		10,740			13,908
Accrued expenses		19,920			38,720
Property, plant and equipment		11			—
Unrealised Exchange Difference		—			87
Allowance for uncollectible receivables, contract assets, loans receivable and others		53,343			56,436
Net loss carryforward		21,939			23,514
Liabilities related to customer incentive		11,435			11,435
Gross deferred tax assets		117,388			144,100
Valuation allowances		(68,932	)		(73,189	)
Net deferred tax assets		48,456			70,911
Deferred tax liabilities
Property, plant and equipment		—			(133	)
Total deferred tax liabilities		—			(133	)
Deferred tax assets, net		48,456			70,778

12.

INCOME TAXES – continued

Deferred tax assets and liabilities have been offset where the Group has a legally enforceable right to do so, and intends to settle on a net basis.

Changes in valuation allowance are as follows:


	Year Ended December 31,
	2021			2022
	RMB			RMB
Balance at beginning of the year		(4,102	)		(68,932	)
Additions		(68,755	)		(4,880	)
Reversals		2,924			623
Disposal of subsidiaries		1,001			—
Balance at end of the year		(68,932	)		(73,189	)

The Group assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. On the basis of this evaluation, valuation allowances of RMB68,932, and RMB73,189 have been established for deferred tax assets as of December 31, 2021 and 2022 respectively, based on a more likely than not threshold due to accumulated loss and uncertainty of sufficient profit generated in future years for certain subsidiaries within the Group. The amount of the deferred tax assets considered realizable, however, could be adjusted if estimates of future taxable income during the carry forwards period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as our projections for growth.

At December 31, 2022, tax loss carry-forward amounted to RMB60,128, and would expire in calendar year 2023 to 2027 if not utilized, while tax loss of RMB45,640 can be carried forward indefinitely. The Group operates its business through its subsidiaries and VIEs. The Group does not file consolidated tax returns, therefore, losses from individual subsidiaries or the VIEs may not be used to offset other subsidiaries’ or VIEs’ earnings within the Group.

In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to the Company and are subject to the withholding taxes. Under U.S. GAAP, undistributed earnings are presumed to be transferred to the Company and are subject to the withholding taxes. Prior December 31, 2022, as the Group had the intent and ability to indefinitely reinvest the PRC subsidiaries’ accumulated profits for expansion of its PRC business, no withholding tax was recorded for those accumulated profits. In March 2023, the Group decided to remit certain percentage of the annual profits of its PRC subsidiaries to their overseas parent company for dividend distribution purposes. The Group will accrue withholding tax liabilities in 2023 based on applicable withholding tax rate for certain percentage of the PRC subsidiaries’ profits to be distributed in 2023.

A deferred tax liability should be recorded for taxable temporary differences attributable to the excess of financial reporting amounts over tax basis amounts, including those differences attributable to a more than 50% interest in a domestic subsidiary. However, recognition is not required in situations where the tax law provides a means by which the reported amount of that investment can be recovered tax-free and the enterprise expects that it will ultimately use that means. the Group does not accrue deferred tax liabilities on the earnings of the VIEs given that the Group’s VIEs had accumulated deficits as of December 31, 2021 and 2022.

12.

INCOME TAXES – continued

Reconciliations of the differences between PRC statutory income tax rate and the Group’s effective income tax rate for the years ended December 31, 2020, 2021 and 2022 are as follows:


	Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Statutory income tax rate		25.00	%		25.00	%		25.00	%
Non-taxable income		—			(0.28	)%		(0.71	)%
Reversal of deferred tax liabilities*		—			(9.75	)%		—
Non-deductible expense		2.54	%		0.81	%		1.23	%
Disposal of subsidiaries		—			(0.25	)%		—
Research and Development expense super deduction		(0.62	)%		(0.81	)%		(2.09	)%
Effect of tax holiday		(2.12	)%		(4.74	)%		(10.99	)%
Different tax rate of entities operating in other jurisdiction		4.86	%		0.28	%		0.55	%
Valuation allowance		0.61	%		11.09	%		0.32	%
True up		0.05	%		(0.17	)%		(1.68	)%
Effective tax rate		30.32	%		21.18	%		11.63	%

* The collection of revenue related to the legacy P2P lending business was not expected, which led to an increase in the valuation allowance of deferred tax assets related to allowance for accounts receivable and contract assets, along with a reversal of the related deferred tax liability for uncollected revenue.

The effect of the tax holiday on the income per share is as follows:


	Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Tax saving amount due to HNTE status		—			—			145,694
Tax saving amount due to Software enterprise		7,527			28,131			1,152
Tax expense amount due to other jurisdiction		(17,405	)		(1,690	)		(7,405	)
Income per share effect-basic and diluted		(0.05	)		0.12			0.65

A reconciliation of the beginning and ending amount of total unrecognized tax benefits for the years ended December 31, 2021 and 2022 is as follows:


	Year Ended December 31,
	2021		2022
	RMB		RMB
Balance at beginning of the year		176,553		211,064
Increase related to current year tax positions		34,511		29,255
Settlement		—		—
Balance at end of the year		211,064		240,319

The amount of unrecognized tax benefit that if recognized would affect the effective tax rate as of December 31, 2021 and 2022 was RMB211,064 and RMB240,319 respectively, which were included in tax payables balance.

The Group recognizes interest expenses and penalty charges related to uncertain tax positions as necessary in the provision for income taxes. For the years ended December 31, 2021 and 2022, no interest expense or penalty was accrued in relation to the unrecognized tax benefit. The Group has a liability for accrued interest of nil and nil as of December 31, 2021 and 2022, respectively.

ASC 740 states that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. The Group record unrecognized tax benefits as liabilities in accordance with ASC 740 and adjust these liabilities when the Group’s judgment changes as a result of the evaluation of new information not previously available. However, due to the uncertain and complex application of tax regulations, it is possible that the ultimate resolution of uncertain tax positions may result in liabilities which could be materially different from these estimates. In such an event, the Group will record additional tax expense or tax benefit in the period in which such resolution occurs.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

ORDINARY SHARES AND TREASURY STOCK

12 Months Ended

Dec. 31, 2022

Common Stock [Abstract]

ORDINARY SHARES AND TREASURY STOCK

13.

ORDINARY SHARES AND TREASURY STOCK

On May 10, 2019, the Group completed its IPO on the NASDAQ Global Market. In this offering, 4,025,000 ADSs, representing 16,100,000 ordinary shares, were issued at a price of US$10.50 per ADS. The aggregate proceeds received by the Group from the IPO, net of issuance costs, were approximately RMB234,354. Upon completion of IPO, the 216,100,000 outstanding ordinary shares with par value of US$0.000000005 per share were split into 100,100,000 Class A ordinary shares and 116,000,000 Class B ordinary shares, with each Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to ten votes on all matters that are subject to shareholder vote. All classes of ordinary shares are entitled to the same dividend right. All of the Class B ordinary shares were held by the Founder of the Company.

For the year ended December 31, 2022, the Group repurchased 5,994,368 Class A ordinary shares on the open market for an aggregate cash consideration of US$3,454 (RMB24,012). The weighted average price of these shares repurchased was US$2.31 per share. As of December 31, 2022, 2,372,596 ordinary shares are considered not outstanding and therefore were accounted for under the cost method and includes such treasury stock as a component of the shareholder’s equity.

During the year ended December 31, 2020, 8,000,000 Class B ordinary shares were converted into Class A ordinary shares.

INCOME PER SHARE

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

INCOME PER SHARE

14.

INCOME PER SHARE

The following table sets forth the computation of basic and diluted net income per share attribute to ordinary shareholders after the stock split:


	Year Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Net income attributable to ordinary shareholders – basic and diluted		252,883		472,086		1,179,658
Weighted average number of ordinary shares outstanding – basic and diluted		216,100,000		216,100,000		215,259,640
Basic and diluted net income per share		1.17		2.18		5.48

As economic rights and obligations are applied equally to both Class A and Class B ordinary shares, earnings are allocated between the two classes of ordinary shares evenly with the same allocation on a per share basis.

The Group does not have shares with a dilutive effect for the years ended December 31, 2020, 2021 and 2022.

LEASES

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

LEASES

15.

LEASES

Operating lease assets primarily represents various facilities under non-cancellable operating leases expiring within one to three years. Lease costs are included in origination and servicing expenses, sales and marketing expenses, general and administrative expenses, and research and development expenses, depending on the use of the underlying asset. Operating lease expenses (including fixed lease cost and short-term lease cost) were RMB26,466, RMB17,892 and RMB29,229 for the years ended December 31, 2020, 2021 and 2022, respectively. Total lease expense related to short-term leases was nil, 109 and 7,158 for the years ended December 31, 2020, 2021 and 2022, respectively.

Supplemental consolidated balance sheet information related to leases was as follows:


	As of December 31,
	2021			2022
Operating leases:	RMB			RMB
Operating leases right-of-use assets		35,507			27,604
Current portion of lease liabilities		16,908			24,986
Non-current portion of lease liabilities		18,335			2,479
Total operating lease liabilities		35,243			27,465
Weighted average remaining lease term (in years)		2.1			1.2
Weighted average discount rate		4.75	%		4.75	%

15.

LEASES – continued

Supplemental cash flow information related to leases for the years ended December 31, 2021 and 2022 is as follows:


	For the year ended December 31,
	2021		2022
	RMB		RMB
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases		16,490		21,977
Non-cash right-of-use assets in exchange for new lease liabilities:
Operating leases		47,101		12,655

Maturities of lease payments by year and in the aggregate, under non-cancellable operating leases with terms in excess of one year as of December 31, 2022 are as follows:


	RMB
2023		25,780
2024		2,433
2025 and thereafter		—
Total lease payment		28,213
Less imputed interest		(748	)
Total		27,465

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2022

Accrued Liabilities and Other Liabilities [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

16.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the followings:


	As of December 31,
	2021		2022
	RMB		RMB
Deposits*		—		287,001
Accrued expenses		89,329		254,943
Others		29,479		30,191
		118,808		572,135

The balances represent deposits held by the Group related to the back-to-back guarantee arrangement from an asset management company.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2022

RELATED PARTY TRANSACTIONS

17.

RELATED PARTY TRANSACTIONS

The table below sets forth the major related parties and their relationships with the Group, with which the Group entered into transactions during the years ended December 31, 2020, 2021 and December 31, 2022:


Name of related parties		Relationship with The Group
Microcredit Company (Chongqing) Ltd. (“Massnet Microcredit”)		Affiliate enterprise
Shanghai Jiayin Finance Services Co., Ltd. (“Shanghai Jiayin”)		Entity controlled by Mr. Yan, the Founder and Chairman of the Group
Jiayin (Shanghai) Finance Information Service Co., Ltd. (“Jiayin (Shanghai)”)		Entity controlled by Mr. Yan, the Founder and Chairman of the Group
Shanghai Jiayin Zhuoyue Wealth Management Co., Ltd. (“Jiayin Zhuoyue”)		Entity controlled by Mr. Yan, the Founder and Chairman of the Group
Kailiantong Payment Service Co., Ltd. (“Kailiantong”)		Entity influenced by Mr. Yan the Founder and Chairman of the Group
GAYANG (Hongkong) Co., Ltd. (“GAYANG”)		Entity controlled by Mr. Yan, the Founder and Chairman of the Group
Jiayin Financial Leasing (Shanghai) Co., Ltd. (“Jiayin Financial Leasing”)		Entity controlled by Mr. Yan, the Founder and Chairman of the Group
Aguila Information, S.A.P.I. de C.V. (“Aguila Information”)		Subsidiary of Company’s equity investee
Limahui Technology Co. Ltd. (“Limahui”)		Entity influenced by Mr. Guanglin Zhang, the director of the Group
Subsidiary shareholder		The minority shareholders of the subsidiaries of the Group
Subsidiary director		The director of the subsidiary of the Group

17.

RELATED PARTY TRANSACTIONS - continued

The Group entered into the following transactions with its related parties:


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Services provided by related parties:
Jiayin Zhuoyue (1)		55,207		77,048		122,946
Jiayin (Shanghai) (1)		9,004		—		—
Shanghai Jiayin (2)		5,845		—		12,474
Limahui (3)		425		—		—
Total		70,481		77,048		135,420
Services provided to related parties
Aguila Information (4)		—		34,619		6,567
Kailiantong (5)		6,209		—		—
Total		6,209		34,619		6,567


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Loans to related parties:
Jiayin Financial Leasing (6)		—		70,000		—
Massnet Microcredit (7)		—		54,000		—
Shanghai Jiayin (8)		—		47,840		35,000
GAYANG (9)		—		31,306		17,243
Aguila Information (10)		—		—		4,173
Subsidiary shareholder (8)		463		—		—
Subsidiary director (11)		79		—		—
Total		542		203,146		56,416
Loans from related parties
Shanghai Jiayin (8)		—		15,000		—
Subsidiary shareholder (12)		3,113		—		—
Total		3,113		15,000		—

17.

RELATED PARTY TRANSACTIONS - continued

(1)

Jiayin Zhuoyue refers investors to the Group and charged referral service fees. Jiayin (Shanghai) referred borrowers to the Group and charged referral service fees, and was no longer our related party since August 2020 due to the change of shareholder.

(2)

Shanghai Jiayin rented office space to the Group and charged other related service fee, which is calculated dependent on its usage of the underlying office space. In April 2022, the Group entered into a sublease agreement with Shanghai Jiayin for Shanghai Jiayin and its affiliated companies' working areas located in the same building as the Group's principal executive offices. The lease period was 12 months and was extended to another year automatically. The Group rented 2,916 square foot from Shanghai Jiayin for the period before August 2022, and 2,400 square foot for the period starting from August 2022. As of December 31, 2022, the Group recognized RMB5,679 right of use assets and RMB6,600 lease liabilities, respectively.

(3)

Limahui primarily provided internet catering service for employees of the Group and charged corresponding service fees. Mr. Guanglin Zhang has significant influence over Limahui in the first three quarters of 2020.

(4)

The Group provides business and operational support services to Aguila Information and charged corresponding service fees. On January 5, 2021, Aguila Information was deconsolidated by the Group and deemed as our related party (see Note 8).

(5)

The Group provided referral service to Kailiantong and charged loan facilitation fees. Our Founder, Mr. Dinggui Yan, partially disposed of his investment over China Smartpay in September 2020, and therefore Mr. Dinggui Yan lost the significant influence over China Smartpay thereafter. As Kailiantong was wholly owned by China Smartpay, Kailiantong was no longer deemed as our related party as of October 2020.

(6)

The amounts represent non-interest bearing loans to related parties in 2021 for the daily operation, which were fully collected in 2021.

(7)

The Group provided non-interest bearing loan of RMB54 million to Massnet Microcredit, which was fully collected in May, 2021.

(8)

The amount represents loans which are non-interest bearing, unsecured, and due on demand, and were fully collected as of December 31, 2021 and 2022.

(9)

The amount represents loans to GAYANG in 2021 and 2022. In 2021, the loans comprise non-interest bearing loan of RMB20,664 and interest bearing loan with principal of RMB10,642 and fixed annual interest rate of 8%. In 2021, RMB11,471 of non-interest bearing loan has been collected and RMB171 interest has been accrued. In 2022, the amount represents interest bearing loan with principal of RMB17,243 and fixed interest rate of 8% after a three-months free of interest duration. In 2022, RMB9,193 of non-interest bearing loan and RMB1,408 of interest bearing loan has been collected and RMB638 interest has been accrued.

(10)

The amount represents non-interest bearing loans to Aguila Information in 2022, which were fully collected as of December 31, 2022.

(11)

The amount represents loans to the minority director of the subsidiary PT. Jayindo Fintek Pratama since November 2020 with principal of RMB79 and annual interest rate of 6%.

(12)

The amount represents loans from minority shareholders of Aguila Information in 2020. As the Aguila Information was deconsolidated by the Group in 2021, its minority shareholders were no longer deemed as our related parties.

17.

RELATED PARTY TRANSACTIONS - continued

The following table present amounts due from and due to related parties as of December 31, 2020 and 2021:


	As of December 31,
	2021		2022
	RMB		RMB
Amounts due from related parties
Subsidiary shareholder		4		7
Aguila Information		16,507		—
GAYANG		20,006		17,243
Shanghai Jiayin		500		500
Total		37,017		17,750
Amounts due to related parties
Jiayin Zhuoyue		4,485		408
Shanghai Jiayin		—		158
Total		4,485		566

Amounts due from related parties primarily consist of loans to related parties and service fees receivable from related parties. As of December 31, 2021, the Group accrued credit losses of RMB16,114 for outstanding receivables from Aguila Information based on subsequent collection analysis. Such credit loss is included in allowance for uncollectible receivables, contract assets, loans receivable and others for the year ended December 31, 2021. As of December 31, 2022, the Group accrued credit losses of RMB10,043 for outstanding receivables from GAYANG based on subsequent collection analysis and reversed credit losses of RMB3,905 for outstanding receivables from Aguila Information based on the collection in 2022. Such credit loss is included in allowance for uncollectible receivables, contract assets, loans receivable and others for the year ended December 31, 2022.

Amounts due to related parties primarily consist of the amount of service fees payable to related parties from related parties.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

18.

COMMITMENTS AND CONTINGENCIES

Capital and other commitments

The Group did not have significant capital, other commitments or long term obligations as of December 31, 2022. As of December 31, 2022, the fair value of guarantees was not material. See Note 2(k).

Contingencies

On September 11, 2020, a securities class action complaint was filed against us and our officers and directors in the Supreme Court of the State of New York, County of New York. An amended complaint was filed on February 1, 2021, which added as defendants the underwriters for our initial public offering. The plaintiff asserted claims under Sections 11 and 15 of the Securities Act of 1933 based on purported misstatements and omissions in Form F-1 registration statement for our initial public offering. The plaintiff brought his claims individually and on behalf of all other persons who acquired our American Depositary Shares pursuant and/or traceable to our initial public offering, and seeks compensatory damages, rescission, injunctive relief, and costs and expenses, including attorneys’ fees and expert fees in unidentified amounts. On August 15, 2022, the Court entered an order of preliminary approval of a settlement in the Action. The Court has approved the settlement and the case has been dismissed. Under the terms of the settlement, we paid an aggregate of US$2.0 million in 2022 as a full and final settlement to resolve all claims that arise out of or relate to the subject matter of the class action as to all parties involved in the action, which were fully accrued as a deduction of other income, net in the financial statements.

Other than the foregoing, the Group are currently not a party to any material legal or administrative proceedings. The Group may from time to time be subject to various legal or administrative claims and proceedings arising in the ordinary course of business. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion of the Group’s resources, including the Group’s management’s time and attention.

RESTRICTED NET ASSETS

12 Months Ended

Dec. 31, 2022

Restricted Net Assets [Abstract]

RESTRICTED NET ASSETS

19.

RESTRICTED NET ASSETS

The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the VIEs and subsidiaries of the VIEs incorporated in PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The consolidated results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries.

Under PRC law, the Company’s subsidiaries, VIEs and the subsidiaries of the VIEs located in the PRC (collectively referred as the “PRC entities”) are required to provide for certain statutory reserves, namely a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. The PRC entities are required to allocate at least 10% of their after tax profits on an individual company basis as determined under PRC accounting standards to the statutory reserve and has the right to discontinue allocations to the statutory reserve if such reserve has reached 50% of registered capital on an individual company basis. In addition, the registered capital of the PRC entities is also restricted.

Amounts restricted that include paid in capital and statutory reserve funds, as determined pursuant to PRC GAAP, is RMB238,201 as of December 31, 2022.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

20.

SUBSEQUENT EVENTS

On April 4, 2023, Jiayin Finance entered into a share acquisition framework agreement (the “Agreement”) with Shenzhen Rongxinbao. Pursuant to the Agreement, Jiayin Finance agreed to transfer its 100% equity interest of Fujian Zhuoqun to Shenzhen Rongxinbao for an aggregate consideration of RMB395.0 million, with February 28, 2023 as the base date of valuation (the “base transaction consideration”). The profit and loss of Fujian Zhuoqun during the transitional period from the base date of valuation to the closing date of the proposed transaction belong to the Group and will be settled in cash or any other form as determined by both parties. The base transaction consideration of RMB395.0 million will be satisfied in the following manners: (i) approximately RMB316.2 million will be settled with the payables the Group owed to Fujian Zhuoqun as a result of the intercompany balances occurred before the proposed transaction, (ii) approximately RMB78.7 million will be settled with the payables the Group owed to Shenzhen Rongxinbao in connection with the disposal of Shanghai Caiyin in 2019, and (iii) the rest will be paid in cash or any other form as determined by both parties. The closing of the proposed transaction is subject to certain customary conditions, including completion of satisfactory due diligence. Following the completion of the proposed transaction, Jiayin Finance will not own any equity interest in Fujian Zhuoqun.

On April 19, 2023, the Group granted 3,160,000 RSUs to certain employees. The RSUs shall vest over a period of four years. The RSUs have no expiration period.

FINANCIAL STATEMENTS SCHEDULE I

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

FINANCIAL STATEMENTS SCHEDULE I

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY BALANCE SHEETS

(AMOUNT IN THOUSANDS, EXCEPT SHARE AND SHARE RELATED DATA)


	As of December 31,
	2021			2022
	RMB			RMB			US$
Assets
Current assets
Cash and cash equivalents		7,861			8,567			1,242
Amounts due from subsidiaries and VIEs		173,310			167,571			24,296
Prepaid and other current assets		2,838			3,248			471
Total current assets		184,009			179,386			26,009
Investments in subsidiaries and VIEs		(155,566	)		1,087,634			157,692
Total assets		28,443			1,267,020			183,701
Liabilities
Current Liabilities
Amounts due to subsidiaries and VIEs		—			13,458			1,951
Accrued expenses and other current liabilities		579			10,478			1,520
Total liabilities		579			23,936			3,471
Equity
Ordinary shares		—			—			—
Treasury stock		—			(9,262	)		(1,343	)
Additional paid-in capital		840,580			870,562			126,220
(Accumulated deficit) retained earnings		(794,762	)		384,896			55,805
Accumulated other comprehensive loss		(17,954	)		(3,112	)		(452	)
Total equity		27,864			1,243,084			180,230
Total liabilities and equity		28,443			1,267,020			183,701

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF

COMPREHENSIVE INCOME

(AMOUNT IN THOUSANDS, EXCEPT SHARE AND SHARE RELATED DATA)


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Operating cost and expenses:
General and administrative		(6,740	)		(6,979	)		(6,494	)		(942	)
Total operating cost and expenses		(6,740	)		(6,979	)		(6,494	)		(942	)
Loss from operations		(6,740	)		(6,979	)		(6,494	)		(942	)
Interest income (expense), net		7,701			(1	)		(76	)		(11	)
Other expenses, net		(67,169	)		(154	)		(13,445	)		(1,949	)
Loss before income tax expense and equity in earnings subsidiaries and VIEs		(66,208	)		(7,134	)		(20,015	)		(2,902	)
Income tax expense		—			—			—			—
Equity in earnings of subsidiaries and VIEs		319,091			479,220			1,199,673			173,936
Net income		252,883			472,086			1,179,658			171,034
Other comprehensive income, net of tax of nil
Foreign currency translation adjustments		(13,286	)		(5,137	)		14,842			2,152
Other comprehensive (loss) income		(13,286	)		(5,137	)		14,842			2,152
Comprehensive income		239,597			466,949			1,194,500			173,186

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

CONDENSED STATEMENTS OF PARENT COMPANY CASH FLOW STATEMENTS

(AMOUNT IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Cash flows from operating activities
Net income		252,883			472,086			1,179,658			171,034
Adjustments to reconcile net income to net cash used in operating activities:
Share of results of subsidiaries and VIEs		(319,091	)		(479,220	)		(1,199,673	)		(173,936	)
Depreciation and amortization		2,675			2,597			2,293			332
Impairment of short-term investment		67,169			—			—			—
Changes in operating assets and liabilities:
Amounts due from subsidiaries and VIEs		(35,702	)		(5,994	)		(2,151	)		(312	)
Prepaid and other current assets		(2,413	)		18			(2,680	)		(388	)
Accrued expenses and other current liabilities		(3,548	)		(1,804	)		636			92
Net cash used in operating activities		(38,027	)		(12,317	)		(21,917	)		(3,178	)
Cash flows from investing activities
Cash collected from loan to related parties		37,372			—			—			—
Net cash provided by investing activities		37,372			—			—			—
Cash flows from financing activities
Proceeds from exercise of options		6,982			3,296			8,783			1,273
Net cash provided by financing activities		6,982			3,296			8,783			1,273
Effect of foreign exchange rate changes on cash and cash equivalents		(12,337	)		(4,331	)		13,840			2,007
Net increase (decrease) in cash and cash equivalents		(6,010	)		(13,352	)		706			102
Cash and cash equivalents at beginning of year		27,223			21,213			7,861			1,140
Cash and cash equivalents at end of the year		21,213			7,861			8,567			1,242

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

NOTES TO SCHEDULE I

Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.

As disclosed in Note 1 to the consolidated financial statements, the Company was incorporated on December 21, 2017 in the Cayman Islands to be the holding company of the Group. The Company undertook a series of transactions to redomicile its business from PRC to the Cayman Islands. The Company has presented Schedule I as if Cayman Islands parent company has been incorporated on January 1, 2017.

The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries and VIEs. The Company records its investments in subsidiaries and VIEs under the equity method of accounting as prescribed in ASC Topic 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the Condensed Balance Sheets as “Investment in subsidiaries and VIEs” and share of their earnings as “Equity in earnings of subsidiaries and VIEs” on the Condensed Statements of Comprehensive Income.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosure certain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the accompanying Consolidated Financial Statements.

As of December 31, 2021 and 2022, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company.

Translations of balances in the additional financial information of Parent Company- Financial Statements Schedule I from RMB into US$ as of and for the year ended December 31, 2022 are solely for the convenience of the readers and were calculated at the rate of US$1.00= RMB6.8972, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate or at any other rate.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation

(a)

Basis of presentation

The accompanying consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Principles of consolidation

(b)

Principles of consolidation

Variable interest entity

The VIE Arrangement with Shanghai Caiyin

In September 2015, Shanghai Caiyin Asset Management Co., Ltd (“Shanghai Caiyin”) was established by Mr. Yan (the “Founder”) to provide the guarantee services to the loans facilitated through Shanghai Wuxingjia. Upon formation, Shanghai Caiyin entered into an agreement with Shanghai Wuxingjia through which Shanghai Wuxingjia has the power to direct the activities that most significantly affects the economic performance of Shanghai Caiyin and would be able to receive the economic benefits of Shanghai Caiyin that could be significant to Shanghai Caiyin. Therefore, Shanghai Wuxingjia was considered the primary beneficiary of Shanghai Caiyin and consolidated Shanghai Caiyin.

On September 16, 2019, Shanghai Caiyin was disposed to a third-party company, Shenzhen Rongxinbao Non-financial Guarantee Co., Ltd. (“Shenzhen Rongxinbao”) (See Note 10).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE

The agreements that provide the Company effective control over the VIE and its subsidiary include:

Powers of Attorney:

Exclusive Purchase Agreement:

The agreements that transfer economic benefits to the Company include:

Exclusive Consultation and Service Agreement:

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE - continued

Equity Pledge Agreement:

•

revoke the Group’s operating licenses;

•

levy fines on the Group;

•

confiscate any of the Group’s net income that they deem to be obtained through illegal operations;

•

shut down the Group’s services;

•

discontinue or restrict the Group’s operations in China;

•

impose conditions or requirements with which the Group may not be able to comply;

•

require the Group to change corporate structure and contractual arrangements;

•

restrict or prohibit the use of the proceeds from overseas offerings to finance the Company’s PRC consolidated VIEs’ business and operations; and

•

take other regulatory or enforcement actions that could be harmful to the Group’s business.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE - continued


	As of December 31,
	2021		2022
	RMB		RMB
Cash and cash equivalents		14,759		16,294
Restricted cash		2,016		2,023
Amounts due from related parties		504		507
Financial Assets receivable		—		53,373
Accounts receivable, net		30,846		71,184
Prepaid expenses and other current assets		39,109		125,647
Deferred tax assets, net		24,615		26,914
Property and equipment, net		2,372		8,123
Right-of-use assets		24,430		14,297
Other long-term assets		1,103		242
TOTAL ASSETS		139,754		318,604
Deferred guarantee income		—		51,079
Payroll and welfare payables		28,057		35,900
Amounts due to related parties		4,485		566
Tax payables		272,964		286,705
Accrued expenses and other current liabilities		46,675		183,442
Other payable related to the disposal of Shanghai Caiyin		322,028		188,300
Lease liabilities		24,752		14,598
TOTAL LIABILITIES		698,961		760,590


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Net revenue		624,868			680,790			972,029
Operating income (expense)		230,415			(15,802	)		52,204
Net income		254,283			89,149			164,741
Net cash (used in) provided by operating activities		(40,071	)		98,486			8,807
Net cash used in investing activities		(62	)		(96,180	)		(7,265	)
Net cash used in financing activities		—			—			—

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(b)

Principles of consolidation - continued

Variable interest entity - continued

The VIE Arrangement with Shanghai Kunjia, the WFOE - continued

Use of estimates

(c)

Use of estimates

Fair value

(d)

Fair value

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Certain risks and concentrations

(e)

Certain risks and concentrations

For the year ended December 31, 2022, Customer A contributed 11% of total net revenue of the Group. As of December 31, 2022, Customer A accounted for 15% of accounts receivable and contract assets.

Foreign currency risk

(f)

Foreign currency risk

Foreign currency translation

(g)

Foreign currency translation

Convenience translation

(h)

Convenience translation

Cash and cash equivalents

(i)

Cash and cash equivalents

Restricted cash

(j)

Restricted cash

Guarantee Arrangement

(k)

Guarantee arrangement

Primary guarantee

Deferred guarantee income and Expected credit loss under ASC 326

The following table sets forth the activities of the Group’s obligations associated with the deferred guarantee income for the years ended December 31, 2021 and 2022:


	Year ended December 31,
	2021		2022
	RMB		RMB
Opening balances		—		—
Fair value of guarantee income at inception of new loans		—		326,086
Release of guarantee income		—		(49,568	)
Ending balances		—		276,518

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

Financial assets receivable

No allowance for credit losses for financial assets receivable was recognized for the years ended December 31, 2021 and 2022.

The following table presents the Group’s financial assets receivable as of December 31, 2021 and 2022:


	Year ended December 31,
	2021		2022
	RMB		RMB
Financial assets receivable		—		292,342
Allowance for credit losses for financial assets receivable		—		—
Financial assets receivable, net		—		292,342

Secondary guarantee

Short term investment

(l)

Short term investment

Current Expected Credit Losses

(m)

Current Expected Credit Losses

Loans receivable

(n)

Loans receivable

Property and equipment

(o)

Property and equipment


	Category		Estimated useful life
	Electronic equipment		3 years

	Office equipment & Furniture		5 years

	Motor vehicles		4 years

	Leasehold improvement		Shorter of the lease term or expected useful life

	Software		10 years

Long term Investment

(p)

Long term investment

Valued-added taxes ("VAT")

(q)

Valued-added taxes (“VAT”)

Share-based compensation

(r)

Share-based compensation

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

Revenue Recognition

(s)

Revenue Recognition

•

Step 1: Identify the contract (s) with a customer

•

Step 2: Identify the performance obligations in the contract

•

Step 3: Determine the transaction price

•

Step 4: Allocate the transaction price to the performance obligations in the contract

•

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation

Loan facilitation

Loan facilitated to individual investors

The Group charged a substantial amount of service fees on the same day when the first and second monthly repayments of principal and interest were due.

The Group determined the total transaction price to be the service fees chargeable according to the contracts, net of value-added tax.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition – continued

Loan facilitated to institutional funding partners

Technical service

Revenue from technical services is recognized at the time a loan is successfully originated by the institutional funding partner as the technical services are completed at that time.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition – continued

Other revenue

Investor referral

Interest income

Business and Operational Support Services

Sales of hardware

Others

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition - continued

The following table illustrates the disaggregation of revenue by product and services the Group offered in 2020, 2021 and 2022, respectively:


For the year ended December 31, 2020	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		943,084		112,731		—		1,055,815
Other services		—		—		244,345		244,345
Total		943,084		112,731		244,345		1,300,160


For the year ended December 31, 2021	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		1,470,170		—		—		1,470,170
Other services		—		—		310,320		310,320
Total		1,470,170		—		310,320		1,780,490


For the year ended December 31, 2022	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		2,881,725		—		—		2,881,725
Other services		—		—		389,689		389,689
Total		2,881,725		—		389,689		3,271,414

Incentives to individual investors


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Incentives paid to:
New investors		—		—		—
Returning investors		202,463		—		—
Total incentives paid to investors		202,463		—		—

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s)

Revenue Recognition – continued

Accounts receivable and contract assets

Employee defined contribution plan

(t)

Employee defined contribution plan

Origination and servicing expense

(u)

Origination and servicing expense

Sales and marketing expenses

(v)

Sales and marketing expenses

Government grant

(w)

Government grant

Income taxes

(x)

Income taxes

Current income taxes are provided for in accordance with the laws of the relevant tax authorities.

Comprehensive income

(y)

Comprehensive income

Income per share

(z)

Income per share

Basic income per share is computed by dividing net income attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period.

Segment reporting

(aa)

Segment reporting

Operating leases

(ab) Operating leases

Treasury shares

(ac) Treasury shares

Recent accounting pronouncements

(ad) Recent accounting pronouncements

Recently Adopted Accounting Pronouncements

Recent Accounting Guidance Not Yet Adopted

Impact of COVID-19

(ae) Impact of COVID-19

As of December 31, 2022, the Group did not experience a significant negative impact of COVID-19 on its operations, capital, and financial position.

ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of principal subsidiaries and VIEs

As of December 31, 2022 the Company’s significant subsidiaries and its consolidated VIEs are as follows:


Name	Date of incorporation/ establishment or acquisition	Place of incorporation/ establishment	Percentage of direct or indirect ownership	Principal activities
Subsidiaries
Jiayin Holdings Limited	January 2018	BVI	100%	Investment Holding
Geerong (HK) Limited (formerly known as “Jiayin (HK) Limited”)	January 2018	Hong Kong	100%	Investment Holding
Jiayin Southeast Asia Holdings Limited	February 2018	BVI	100%	Investment Holding
Shanghai Kunjia Technology Co., Ltd.	June 2018	Shanghai	100%	Investment Holding
Geerong Yunke Information Technology Co., Ltd.	July 2019	Shanghai	100%	Technology development and consumer finance services
Geerong Yun (Shanghai) Enterprise Development Co., Ltd.	September 2019	Shanghai	100%	Technology development and consumer finance services
Shanghai Chuangzhen Software Co., Ltd.	April 2020	Shanghai	100%	Technology service
PT. Jayindo Fintek Pratama	April 2020	Indonesia	85%	Lending business
Fujian Jiaxi Financing Guarantee Co., Ltd.	July 2021	Fujian	100%	Guarantee service
Hainan Yinke Financing Guarantee Co., Ltd.	August 2021	Hainan	100%	Guarantee service

VIEs
Shanghai Jiayin Finance Technology Co., Ltd.	June 2015	Shanghai	100%	Technology service
Shanghai Wuxingjia Information Technology Co., Ltd. ( formerly known as "Shanghai Niwodai Internet Finance Information Services Co., Ltd.")	September 2015	Shanghai	100%	Technology development and consumer finance services
Shanghai Jiajie Internet Finance Information Services Co., Ltd.	July 2019	Shanghai	100%	Technology development and consumer finance services
Jiayin Shuke Information Technology Co., Ltd.	January 2021	Shanghai	100%	Technology service

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of condensed financial statement balances and amounts of Company's VIEs


	As of December 31,
	2021		2022
	RMB		RMB
Cash and cash equivalents		14,759		16,294
Restricted cash		2,016		2,023
Amounts due from related parties		504		507
Financial Assets receivable		—		53,373
Accounts receivable, net		30,846		71,184
Prepaid expenses and other current assets		39,109		125,647
Deferred tax assets, net		24,615		26,914
Property and equipment, net		2,372		8,123
Right-of-use assets		24,430		14,297
Other long-term assets		1,103		242
TOTAL ASSETS		139,754		318,604
Deferred guarantee income		—		51,079
Payroll and welfare payables		28,057		35,900
Amounts due to related parties		4,485		566
Tax payables		272,964		286,705
Accrued expenses and other current liabilities		46,675		183,442
Other payable related to the disposal of Shanghai Caiyin		322,028		188,300
Lease liabilities		24,752		14,598
TOTAL LIABILITIES		698,961		760,590


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Net revenue		624,868			680,790			972,029
Operating income (expense)		230,415			(15,802	)		52,204
Net income		254,283			89,149			164,741
Net cash (used in) provided by operating activities		(40,071	)		98,486			8,807
Net cash used in investing activities		(62	)		(96,180	)		(7,265	)
Net cash used in financing activities		—			—			—

Summary of obligation with guarantee liability

The following table sets forth the activities of the Group’s obligations associated with the deferred guarantee income for the years ended December 31, 2021 and 2022:


	Year ended December 31,
	2021		2022
	RMB		RMB
Opening balances		—		—
Fair value of guarantee income at inception of new loans		—		326,086
Release of guarantee income		—		(49,568	)
Ending balances		—		276,518

Summary of financial assets receivables

The following table presents the Group’s financial assets receivable as of December 31, 2021 and 2022:


	Year ended December 31,
	2021		2022
	RMB		RMB
Financial assets receivable		—		292,342
Allowance for credit losses for financial assets receivable		—		—
Financial assets receivable, net		—		292,342

Summary of property and equipment estimated useful lives

Property and equipment consist of the following and depreciation is calculated on a straight-line basis over the following estimated useful lives are:


	Category		Estimated useful life
	Electronic equipment		3 years

	Office equipment & Furniture		5 years

	Motor vehicles		4 years

	Leasehold improvement		Shorter of the lease term or expected useful life

	Software		10 years

Summary of disaggregation of revenue by product

The following table illustrates the disaggregation of revenue by product and services the Group offered in 2020, 2021 and 2022, respectively:


For the year ended December 31, 2020	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		943,084		112,731		—		1,055,815
Other services		—		—		244,345		244,345
Total		943,084		112,731		244,345		1,300,160


For the year ended December 31, 2021	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		1,470,170		—		—		1,470,170
Other services		—		—		310,320		310,320
Total		1,470,170		—		310,320		1,780,490


For the year ended December 31, 2022	Loan facilitation services		Post- origination services		Other revenues		Total
	RMB		RMB		RMB		RMB
Current loan products		2,881,725		—		—		2,881,725
Other services		—		—		389,689		389,689
Total		2,881,725		—		389,689		3,271,414

Summary of incentives paid to investors

Such incentives are recorded as a reduction of revenue over the investment period and the incentive accrued not paid are recorded as refund liabilities based on the management’s best estimate. The Group was released from the obligation under the refund liabilities and recognized as other revenue of amounting to 77,045, nil and nil for the years ended December 31, 2020, 2021 and 2022, respectively.


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Incentives paid to:
New investors		—		—		—
Returning investors		202,463		—		—
Total incentives paid to investors		202,463		—		—

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

LOANS RECEIVABLE, NET (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Summary of loans receivable, net

The loans receivable, net consists of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Loans receivable		27,584			21,142
Allowance for credit losses		(27,255	)		(17,991	)
Loans receivable, net		329			3,151

Summary of balances of loans receivable by due date

The following table summarizes the balances of loans receivable by due date as of December 31, 2021 and 2022:


	As of December 31,
	2021		2022
	RMB		RMB
Undue		274		632
1-14 days past due		28		221
15 days or greater past due		27		2,298
Loans receivable, net		329		3,151

Summary of the allowance for credit losses

The movement of the allowance for credit losses for the years ended December 31, 2020, 2021 and 2022 are as follows:


	Year ended December 31,
	2020			2021			2022
				RMB			RMB
Balance at beginning of the year		—			(27,700	)		(27,255	)
Current year credit losses		(27,498	)		(27,735	)		(18,609	)
Current year write off		—			9,087			27,665
Disposal of a subsidiary		—			18,236			—
Foreign currency exchange		(202	)		857			208
Balance at end of the year		(27,700	)		(27,255	)		(17,991	)

ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Summary of accounts receivable

Accounts receivable consists of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Accounts receivable:
Receivables for loan referral service from institutional funding partners		315,895		1,313,288
Less: allowance for credit losses		—		(2,539	)
Total accounts receivable		315,895		1,310,749

Summary of movement of allowance for uncollectible receivables

The movement of allowance for uncollectible receivables for the years ended December 31, 2020, 2021and 2022 are as follows:


	Year ended December 31,
	2020			2021		2022
	RMB			RMB		RMB
Balance at the beginning of the year		60,679			—		—
Current year credit losses		49,231			—		2,539
Current year write off		(109,910	)		—		—
Balance at end of the year		—			—		2,539

Summary of Contract Assets

Contract assets consists of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Contract assets		186,536		421,469
Less: Allowance for credit losses		—		—
Contract assets, net		186,536		421,469

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses And Other Current Assets

Prepaid expenses and other current assets consisted of the followings:


	As of December 31,
	2021		2022
	RMB		RMB
Security deposits*		—		414,400
Advances		19,414		16,452
Others		42,841		41,978
		62,255		472,830

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of property and equipment, net

Property and equipment, net consisted of the followings:


	As of December 31,
	2021			2022
	RMB			RMB
Leasehold improvement		8,093			8,093
Motor vehicles		1,993			3,038
Electronic equipment		58,561			74,360
Office equipment & furniture		7,226			7,844
Software		1,407			1,407
Total costs		77,280			94,742
Less: accumulated depreciation and amortization		(68,180	)		(75,842	)
Property and equipment, net		9,100			18,900

ACQUISITION (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Schedule of Allocation of Purchase Price

The allocation of the purchase price is as follows:


	Amount
	RMB
Cash and cash equivalents		1,145
Accounts receivable		39,952
Inventories		38,590
Prepaid expenses and other current assets		37,474
Short-term loan		(4,000	)
Accounts payable		(12,994	)
Payroll and welfare payables		(337	)
Tax payables		3,600
Accrued expenses and other current liabilities		(3,430	)
Noncontrolling interests		(5,000	)
Total Consideration		95,000

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of share-based compensation expenses

The following table presents the classification of the Group’s share-based compensation expenses:


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Origination and servicing		3,167		3,159		2,408
General and administrative		8,870		5,021		33,740
Research and development		10,170		5,461		6,038
Sales and marketing		8,445		1,545		362
Total		30,652		15,186		42,548

Summary of assumptions to estimate fair value of options at date of grant

The following assumptions were applied to estimate the fair value of the options granted in 2020 at the date of grant:


		November 2020
Average risk-free rate of interest		0.23%-0.60%
Estimated volatility rate		49.74%-53.91%
Exercise multiples		2.8
Dividend yield		0.0%
Time to maturity		0-3 years
Fair value per underlying ordinary share		RMB18.33

Summary of aggregate option activities

The summary of the aggregate option activities and information regarding options outstanding for the years ended as of December 31, 2021 and 2022 is as follows:


	Number of Options (in ‘000s)			Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Aggregate Intrinsic Value
				RMB		Years		RMB
Options outstanding at December 31, 2021		1,751			3.5		1.91		45,349
Granted		—			—		—		—
Exercised		(637	)
Forfeited		(220	)
Options outstanding at December 31, 2022	894			3.5		1.27			16,076
Options exercisable at December 31, 2022	488			3.5		0.4			9,229
Options vested or expected to be vested at December 31, 2022	894			3.5		1.27			16,076

Summary of RSUs activities

The following table sets forth the Group’s RSUs activities under all incentive plans for the years ended December 31, 2022:


	Number of RSUs (in ‘000s)			Weighted Average Grant-Date Fair Value
				RMB
Unvested at December 31, 2021		—			—
Granted		4,080			16.69
Vested		(2,020	)		16.59
Canceled/Forfeited		(160	)		16.66
Unvested at December 31, 2022		1,900			16.72

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of income tax expense

Income tax expense consists of the following:


	Year ended December 31,
	2020		2021			2022
	RMB		RMB			RMB
Current income tax expense:		83,216		141,578			177,720
Deferred income tax expense (benefit):		25,595		(15,854	)		(22,322	)
Total income tax expense		108,811		125,724			155,398

Summary of significant components of deferred tax assets and deferred tax liabilities

The following table sets forth the significant components of the deferred tax assets and deferred tax liabilities:


	As of December 31,
	2021			2022
	RMB			RMB
Deferred tax assets
Payroll and welfare payable		10,740			13,908
Accrued expenses		19,920			38,720
Property, plant and equipment		11			—
Unrealised Exchange Difference		—			87
Allowance for uncollectible receivables, contract assets, loans receivable and others		53,343			56,436
Net loss carryforward		21,939			23,514
Liabilities related to customer incentive		11,435			11,435
Gross deferred tax assets		117,388			144,100
Valuation allowances		(68,932	)		(73,189	)
Net deferred tax assets		48,456			70,911
Deferred tax liabilities
Property, plant and equipment		—			(133	)
Total deferred tax liabilities		—			(133	)
Deferred tax assets, net		48,456			70,778

Summary of changes in valuation allowance

Changes in valuation allowance are as follows:


	Year Ended December 31,
	2021			2022
	RMB			RMB
Balance at beginning of the year		(4,102	)		(68,932	)
Additions		(68,755	)		(4,880	)
Reversals		2,924			623
Disposal of subsidiaries		1,001			—
Balance at end of the year		(68,932	)		(73,189	)

Summary of reconciliations of differences between PRC statutory income tax rate and group's effective income tax rate

Reconciliations of the differences between PRC statutory income tax rate and the Group’s effective income tax rate for the years ended December 31, 2020, 2021 and 2022 are as follows:


	Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Statutory income tax rate		25.00	%		25.00	%		25.00	%
Non-taxable income		—			(0.28	)%		(0.71	)%
Reversal of deferred tax liabilities*		—			(9.75	)%		—
Non-deductible expense		2.54	%		0.81	%		1.23	%
Disposal of subsidiaries		—			(0.25	)%		—
Research and Development expense super deduction		(0.62	)%		(0.81	)%		(2.09	)%
Effect of tax holiday		(2.12	)%		(4.74	)%		(10.99	)%
Different tax rate of entities operating in other jurisdiction		4.86	%		0.28	%		0.55	%
Valuation allowance		0.61	%		11.09	%		0.32	%
True up		0.05	%		(0.17	)%		(1.68	)%
Effective tax rate		30.32	%		21.18	%		11.63	%

Summary of effect of tax holiday

The effect of the tax holiday on the income per share is as follows:


	Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Tax saving amount due to HNTE status		—			—			145,694
Tax saving amount due to Software enterprise		7,527			28,131			1,152
Tax expense amount due to other jurisdiction		(17,405	)		(1,690	)		(7,405	)
Income per share effect-basic and diluted		(0.05	)		0.12			0.65

Summary of total unrecognized tax benefits

A reconciliation of the beginning and ending amount of total unrecognized tax benefits for the years ended December 31, 2021 and 2022 is as follows:


	Year Ended December 31,
	2021		2022
	RMB		RMB
Balance at beginning of the year		176,553		211,064
Increase related to current year tax positions		34,511		29,255
Settlement		—		—
Balance at end of the year		211,064		240,319

INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Summary of computation of basic and diluted net income per share attribute to ordinary shareholders after stock split


	Year Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Net income attributable to ordinary shareholders – basic and diluted		252,883		472,086		1,179,658
Weighted average number of ordinary shares outstanding – basic and diluted		216,100,000		216,100,000		215,259,640
Basic and diluted net income per share		1.17		2.18		5.48

LEASES (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of supplemental consolidated balance sheet information related to leases

Supplemental consolidated balance sheet information related to leases was as follows:


	As of December 31,
	2021			2022
Operating leases:	RMB			RMB
Operating leases right-of-use assets		35,507			27,604
Current portion of lease liabilities		16,908			24,986
Non-current portion of lease liabilities		18,335			2,479
Total operating lease liabilities		35,243			27,465
Weighted average remaining lease term (in years)		2.1			1.2
Weighted average discount rate		4.75	%		4.75	%

Summary of cash flow information related to leases

Supplemental cash flow information related to leases for the years ended December 31, 2021 and 2022 is as follows:


	For the year ended December 31,
	2021		2022
	RMB		RMB
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases		16,490		21,977
Non-cash right-of-use assets in exchange for new lease liabilities:
Operating leases		47,101		12,655

Summary of maturities of lease payments

Maturities of lease payments by year and in the aggregate, under non-cancellable operating leases with terms in excess of one year as of December 31, 2022 are as follows:


	RMB
2023		25,780
2024		2,433
2025 and thereafter		—
Total lease payment		28,213
Less imputed interest		(748	)
Total		27,465

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Accrued Liabilities and Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the followings:


	As of December 31,
	2021		2022
	RMB		RMB
Deposits*		—		287,001
Accrued expenses		89,329		254,943
Others		29,479		30,191
		118,808		572,135

The balances represent deposits held by the Group related to the back-to-back guarantee arrangement from an asset management company.

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2022

Summary of transactions with and amounts due from and due to related parties

17.

RELATED PARTY TRANSACTIONS - continued

The Group entered into the following transactions with its related parties:


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Services provided by related parties:
Jiayin Zhuoyue (1)		55,207		77,048		122,946
Jiayin (Shanghai) (1)		9,004		—		—
Shanghai Jiayin (2)		5,845		—		12,474
Limahui (3)		425		—		—
Total		70,481		77,048		135,420
Services provided to related parties
Aguila Information (4)		—		34,619		6,567
Kailiantong (5)		6,209		—		—
Total		6,209		34,619		6,567


	Year ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Loans to related parties:
Jiayin Financial Leasing (6)		—		70,000		—
Massnet Microcredit (7)		—		54,000		—
Shanghai Jiayin (8)		—		47,840		35,000
GAYANG (9)		—		31,306		17,243
Aguila Information (10)		—		—		4,173
Subsidiary shareholder (8)		463		—		—
Subsidiary director (11)		79		—		—
Total		542		203,146		56,416
Loans from related parties
Shanghai Jiayin (8)		—		15,000		—
Subsidiary shareholder (12)		3,113		—		—
Total		3,113		15,000		—

17.

RELATED PARTY TRANSACTIONS - continued

(1)

(2)

(3)

(4)

(5)

(6)

The amounts represent non-interest bearing loans to related parties in 2021 for the daily operation, which were fully collected in 2021.

(7)

The Group provided non-interest bearing loan of RMB54 million to Massnet Microcredit, which was fully collected in May, 2021.

(8)

The amount represents loans which are non-interest bearing, unsecured, and due on demand, and were fully collected as of December 31, 2021 and 2022.

(9)

(10)

The amount represents non-interest bearing loans to Aguila Information in 2022, which were fully collected as of December 31, 2022.

(11)

The amount represents loans to the minority director of the subsidiary PT. Jayindo Fintek Pratama since November 2020 with principal of RMB79 and annual interest rate of 6%.

(12)

17.

RELATED PARTY TRANSACTIONS - continued

The following table present amounts due from and due to related parties as of December 31, 2020 and 2021:


	As of December 31,
	2021		2022
	RMB		RMB
Amounts due from related parties
Subsidiary shareholder		4		7
Aguila Information		16,507		—
GAYANG		20,006		17,243
Shanghai Jiayin		500		500
Total		37,017		17,750
Amounts due to related parties
Jiayin Zhuoyue		4,485		408
Shanghai Jiayin		—		158
Total		4,485		566

Amounts due to related parties primarily consist of the amount of service fees payable to related parties from related parties.

FINANCIAL STATEMENTS SCHEDULE I (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY BALANCE SHEETS

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY BALANCE SHEETS

(AMOUNT IN THOUSANDS, EXCEPT SHARE AND SHARE RELATED DATA)


	As of December 31,
	2021			2022
	RMB			RMB			US$
Assets
Current assets
Cash and cash equivalents		7,861			8,567			1,242
Amounts due from subsidiaries and VIEs		173,310			167,571			24,296
Prepaid and other current assets		2,838			3,248			471
Total current assets		184,009			179,386			26,009
Investments in subsidiaries and VIEs		(155,566	)		1,087,634			157,692
Total assets		28,443			1,267,020			183,701
Liabilities
Current Liabilities
Amounts due to subsidiaries and VIEs		—			13,458			1,951
Accrued expenses and other current liabilities		579			10,478			1,520
Total liabilities		579			23,936			3,471
Equity
Ordinary shares		—			—			—
Treasury stock		—			(9,262	)		(1,343	)
Additional paid-in capital		840,580			870,562			126,220
(Accumulated deficit) retained earnings		(794,762	)		384,896			55,805
Accumulated other comprehensive loss		(17,954	)		(3,112	)		(452	)
Total equity		27,864			1,243,084			180,230
Total liabilities and equity		28,443			1,267,020			183,701

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF

COMPREHENSIVE INCOME

(AMOUNT IN THOUSANDS, EXCEPT SHARE AND SHARE RELATED DATA)


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Operating cost and expenses:
General and administrative		(6,740	)		(6,979	)		(6,494	)		(942	)
Total operating cost and expenses		(6,740	)		(6,979	)		(6,494	)		(942	)
Loss from operations		(6,740	)		(6,979	)		(6,494	)		(942	)
Interest income (expense), net		7,701			(1	)		(76	)		(11	)
Other expenses, net		(67,169	)		(154	)		(13,445	)		(1,949	)
Loss before income tax expense and equity in earnings subsidiaries and VIEs		(66,208	)		(7,134	)		(20,015	)		(2,902	)
Income tax expense		—			—			—			—
Equity in earnings of subsidiaries and VIEs		319,091			479,220			1,199,673			173,936
Net income		252,883			472,086			1,179,658			171,034
Other comprehensive income, net of tax of nil
Foreign currency translation adjustments		(13,286	)		(5,137	)		14,842			2,152
Other comprehensive (loss) income		(13,286	)		(5,137	)		14,842			2,152
Comprehensive income		239,597			466,949			1,194,500			173,186

CONDENSED STATEMENTS OF PARENT COMPANY CASH FLOW STATEMENTS

JIAYIN GROUP INC.

ADDITIONAL INFORMATION—FINANCIAL STATEMENTS SCHEDULE I

CONDENSED STATEMENTS OF PARENT COMPANY CASH FLOW STATEMENTS

(AMOUNT IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Cash flows from operating activities
Net income		252,883			472,086			1,179,658			171,034
Adjustments to reconcile net income to net cash used in operating activities:
Share of results of subsidiaries and VIEs		(319,091	)		(479,220	)		(1,199,673	)		(173,936	)
Depreciation and amortization		2,675			2,597			2,293			332
Impairment of short-term investment		67,169			—			—			—
Changes in operating assets and liabilities:
Amounts due from subsidiaries and VIEs		(35,702	)		(5,994	)		(2,151	)		(312	)
Prepaid and other current assets		(2,413	)		18			(2,680	)		(388	)
Accrued expenses and other current liabilities		(3,548	)		(1,804	)		636			92
Net cash used in operating activities		(38,027	)		(12,317	)		(21,917	)		(3,178	)
Cash flows from investing activities
Cash collected from loan to related parties		37,372			—			—			—
Net cash provided by investing activities		37,372			—			—			—
Cash flows from financing activities
Proceeds from exercise of options		6,982			3,296			8,783			1,273
Net cash provided by financing activities		6,982			3,296			8,783			1,273
Effect of foreign exchange rate changes on cash and cash equivalents		(12,337	)		(4,331	)		13,840			2,007
Net increase (decrease) in cash and cash equivalents		(6,010	)		(13,352	)		706			102
Cash and cash equivalents at beginning of year		27,223			21,213			7,861			1,140
Cash and cash equivalents at end of the year		21,213			7,861			8,567			1,242

ORGANIZATION AND PRINCIPAL ACTIVITIES - Additional Information (Detail) - May 10, 2019 ¥ in Thousands	CNY (¥) shares	$ / shares
Summary of Organization and Principal Activities [Line Items]
Stock issued equivalent common stock shares	16,100,000
IPO Expenses Capitalization \| ¥	¥ 234,354
American Depositary Share [Member]
Summary of Organization and Principal Activities [Line Items]
Shares issued in initial public offering ("IPO") (in shares)	4,025,000
Shares issued, price per share \| $ / shares		$ 10.50

ORGANIZATION AND PRINCIPAL ACTIVITIES - Summary of principal subsidiaries and VIEs (Detail)	12 Months Ended
	Dec. 31, 2022
Subsidiaries [Member] \| Jiayin Holdings Limited
Date of incorporation/establishment or acquisition	Jan. 31, 2018
Place of incorporation/establishment	BVI
Percentage of direct or indirect ownership	100.00%
Principal activities	Investment Holding
Subsidiaries [Member] \| Geerong(HK) Limited (formerly known as "Jiayin (HK) Limited")
Date of incorporation/establishment or acquisition	Jan. 31, 2018
Place of incorporation/establishment	Hong Kong
Percentage of direct or indirect ownership	100.00%
Principal activities	Investment Holding
Subsidiaries [Member] \| Jiayin Southeast Asia Holdings Limited
Date of incorporation/establishment or acquisition	Feb. 28, 2018
Place of incorporation/establishment	BVI
Percentage of direct or indirect ownership	100.00%
Principal activities	Investment Holding
Subsidiaries [Member] \| Shanghai Kunjia Technology Co., Ltd.
Date of incorporation/establishment or acquisition	Jun. 30, 2018
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Investment Holding
Subsidiaries [Member] \| Geerong Yunke Information Technology Co., Ltd
Date of incorporation/establishment or acquisition	Jul. 31, 2019
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technology development and consumer finance services
Subsidiaries [Member] \| Geerong Yun (Shanghai) Enterprise Development Co., Ltd.
Date of incorporation/establishment or acquisition	Sep. 30, 2019
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technology development and consumer finance services
Subsidiaries [Member] \| Shanghai Chuangzhen Software Co., Ltd.
Date of incorporation/establishment or acquisition	Apr. 30, 2020
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technology service
Subsidiaries [Member] \| PT Jayindo Fintek Pratama
Date of incorporation/establishment or acquisition	Apr. 30, 2020
Place of incorporation/establishment	Indonesia
Percentage of direct or indirect ownership	85.00%
Principal activities	Lending business
Subsidiaries [Member] \| Fujian Jiaxi Financing Guarantee Co., Ltd.
Date of incorporation/establishment or acquisition	Jul. 31, 2021
Place of incorporation/establishment	Fujian
Percentage of direct or indirect ownership	100.00%
Principal activities	Guarantee service
Subsidiaries [Member] \| Hainan Yinke Financing Guarantee Co., Ltd.
Date of incorporation/establishment or acquisition	Aug. 31, 2021
Place of incorporation/establishment	Hainan
Percentage of direct or indirect ownership	100.00%
Principal activities	Guarantee service
Variable Interest Entity, Primary Beneficiary Shanghai Wuxingjia Information Technology Co., Ltd. ( formerly known as"Shanghai Niwodai Internet Finance Information Services Co., Ltd.")
Date of incorporation/establishment or acquisition	Sep. 30, 2015
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technology development and consumer finance services
Variable Interest Entity, Primary Beneficiary Shanghai Jiayin Finance Technology Co., Ltd.
Date of incorporation/establishment or acquisition	Jun. 30, 2015
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technology service
Variable Interest Entity, Primary Beneficiary Shanghai Jiajie Internet Finance Information Services Co., Ltd.
Date of incorporation/establishment or acquisition	Jul. 31, 2019
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technologydevelopmentand consumer financeservices
Variable Interest Entity, Primary Beneficiary Jiayin Shuke Information Technology Co., Ltd.
Date of incorporation/establishment or acquisition	Jan. 31, 2021
Place of incorporation/establishment	Shanghai
Percentage of direct or indirect ownership	100.00%
Principal activities	Technology service

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($) shares	Dec. 30, 2022
Net cash used in the operating activities	¥ 133,592,000	$ 19,367	¥ 184,540,000	¥ (35,505,000)
Net income	1,180,232,000	$ 171,118	467,761,000	250,066,000
Shareholders' equity	1,243,084,000		27,864,000		$ 180,230
Cash and cash equivalents	¥ 291,018,000		¥ 182,551,000	¥ 117,320,000	$ 42,194
VIEs percentage of Group's consolidated revenue	30.00%	30.00%	38.00%	48.00%
VIEs percentage of consolidated total assets	11.00%	11.00%	14.00%
VIEs percentage of consolidated total liabilities	43.00%	43.00%	74.00%
Convenience translation rate per US$1.00	6.8972				6.8972	6.8972
Restricted cash	¥ 2,023,000		¥ 2,016,000		$ 293
Maximum potential future payments not reduced by effect of any amounts that may possibly be recovered	6,484,243,000
Fnancial assets receivable, allowance for credit losses	0		0
Fair value of guarantee liabilities Compensation	0		0	¥ 0
Outstanding loan, secondary guarantee	14,425,887,000		5,728,718,000
Impairment loss on investment	¥ 15,078,000		¥ 0	49,000
Value added tax rate	6.00%	6.00%
Treasury stock, shares \| shares	2,372,596		0		2,372,596
Service fees	¥ 0		¥ 0	23,815,000
Refund liabilities				(180,104,000)
Employee defined contribution plan expense	68,145,000		57,363,000	37,665,000
Advertising expense	8,437,000		6,695,000	21,697,000
Government grants	¥ 22,306,000		¥ 19,762,000	6,773,000
Weighted average remaining lease term	1 year 2 months 12 days		2 years 1 month 6 days		1 year 2 months 12 days
Weighted average discount rate	4.75%		4.75%		4.75%
(Accumulated deficit) retained earnings	¥ 384,896,000		¥ (794,762,000)		$ 55,805
Other Revenue [Member]
Refund liabilities	¥ 0		0	¥ 77,045,000
ASU 2014-09
Change in accounting principle, accounting standards update, adopted [true false]	true				true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2018				Jan. 01, 2018
ASU 2019-12
Change in accounting principle, accounting standards update, adopted [true false]	true				true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2022				Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect [true false]	true				true
CNY
Cash and cash equivalents	¥ 257,041,000		¥ 127,902,000
PRC
Income tax year subject to examination	5 years	5 years
Hong Kong
Income tax year subject to examination	7 years	7 years
Singapore
Income tax year subject to examination	4 years	4 years
Indonesia
Income tax year subject to examination	5 years	5 years
Nigeria
Income tax year subject to examination	indefinite years	indefinite years
Cash and Cash Equivalents \| Net Assets, Geographic Area \| PRC
Concentration risk, percentage	89.00%	89.00%	69.00%
Customer Concentration Risk \| Net Revenue \| Customer A
Concentration risk, percentage	11.00%	11.00%
Customer Concentration Risk \| Accounts Receivable and Contract Assets \| Customer A
Concentration risk, percentage	15.00%	15.00%
Equity Pledge Agreement
Percentage of equity interest in Jiayin Finance pledged to WFOE	100.00%	100.00%
Exclusive Purchase Agreement Member [Member] \| Shanghai Kunjia Technology Co., Ltd. ("Shanghai Kunjia" or "WFOE") [Member]
Consideration of purchase	¥ 1,000
Effective time period of agreement	10 years	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of condensed financial statement balances and amounts of Company's VIEs (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 291,018		¥ 182,551	¥ 117,320	$ 42,194
Restricted cash	2,023		2,016		293
Amounts due from related parties	17,750		37,017		2,574
Financial Assets receivable	292,342				42,386
Accounts receivable, net	1,310,749		315,895
Prepaid expenses and other current assets	472,830		62,255		68,554
Deferred tax assets , net	70,778		48,456		10,262
Property and equipment , net	18,900		9,100		2,740
Right-of-use assets	27,604		35,507		4,002
Other long-term assets	1,759		1,242		255
TOTAL ASSETS	3,020,870		971,432		437,986
Payroll and welfare payables	81,558		56,056		11,825
Amounts due to related parties	566		4,485		82
Tax payables	632,825		409,063		91,751
Accrued expenses and other current liabilities	572,135		118,808		82,953
Other payable related to the disposal of Shanghai Caiyin	188,300		322,028		27,301
Lease liabilities	27,465		35,243		3,982
TOTAL LIABILITIES	1,779,367		945,683		$ 257,985
Net revenue	3,271,414	$ 474,310	1,780,490	1,300,160
Operating income (expense)	1,182,019	171,376	431,956	302,107
Net income	1,179,658	171,034	472,086	252,883
Net cash (used in) provided by operating activities	133,592	19,367	184,540	(35,505)
Net cash used in investing activities	(22,949)	(3,328)	(126,222)	33,226
Net cash used in financing activities	(12,566)	$ (1,822)	9,938	10,595
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	16,294		14,759
Restricted cash	2,023		2,016
Amounts due from related parties	507		504
Financial Assets receivable	53,373
Accounts receivable, net	71,184		30,846
Prepaid expenses and other current assets	125,647		39,109
Deferred tax assets , net	26,914		24,615
Property and equipment , net	8,123		2,372
Right-of-use assets	14,297		24,430
Other long-term assets	242		1,103
TOTAL ASSETS	318,604		139,754
Deferred guarantee income	51,079
Payroll and welfare payables	35,900		28,057
Amounts due to related parties	566		4,485
Tax payables	286,705		272,964
Accrued expenses and other current liabilities	183,442		46,675
Other payable related to the disposal of Shanghai Caiyin	188,300		322,028
Lease liabilities	14,598		24,752
TOTAL LIABILITIES	760,590		698,961
Net revenue	972,029		680,790	624,868
Operating income (expense)	(52,204)		(15,802)	230,415
Net income	164,741		89,149	254,283
Net cash (used in) provided by operating activities	8,807		98,486	(40,071)
Net cash used in investing activities	(7,265)		(96,180)	(62)
Net cash used in financing activities	¥ 0		¥ 0	¥ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of obligation with guarantee liability (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Fair value of guarantee income at inception of new loans	$ 326,086
Release of guarantee income	(49,568)
Guarantee Liability, Ending balances	$ 276,518

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of financial assets receivables (Details) $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Accounting Policies [Abstract]
Financial assets receivable	¥ 292,342,000
Allowance for credit losses for financial assets receivable	0		¥ 0
Financial assets receivable, net	¥ 292,342,000	$ 42,386

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 55
-Paragraph 79
-URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922352-210448

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3)(b))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=124255206&loc=SL82895884-210446

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 55
-Paragraph 80
-URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph (a)
-Subparagraph (1)

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph (a)
-Subparagraph (2)

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1404
-Paragraph (a)

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of property and equipment estimated useful lives (Detail)	12 Months Ended
	Dec. 31, 2022
Electronic equipment
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Office equipment & Furniture
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Motor vehicles
Property Plant And Equipment [Line Items]
Estimated useful life	4 years
Leasehold improvement
Property Plant And Equipment [Line Items]
Estimated useful life	Shorter of the lease term or expected useful life
Software
Property Plant And Equipment [Line Items]
Estimated useful life	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of disaggregation of revenue by product (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Disaggregation Of Revenue [Line Items]
Net revenue	¥ 3,271,414	$ 474,310	¥ 1,780,490	¥ 1,300,160
Current loan products
Disaggregation Of Revenue [Line Items]
Net revenue	2,881,725		1,470,170	1,055,815
Other services
Disaggregation Of Revenue [Line Items]
Net revenue	389,689		310,320	244,345
Loan facilitation services
Disaggregation Of Revenue [Line Items]
Net revenue	2,881,725		1,470,170	943,084
Loan facilitation services \| Current loan products
Disaggregation Of Revenue [Line Items]
Net revenue	2,881,725		1,470,170	943,084
Post-origination services
Disaggregation Of Revenue [Line Items]
Net revenue				112,731
Post-origination services \| Current loan products
Disaggregation Of Revenue [Line Items]
Net revenue				112,731
Other revenues
Disaggregation Of Revenue [Line Items]
Net revenue	389,689		310,320	244,345
Other revenues \| Other services
Disaggregation Of Revenue [Line Items]
Net revenue	¥ 389,689		¥ 310,320	¥ 244,345

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of incentives paid to investors (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)
Incentives paid to:
Returning investors	¥ 202,463
Total incentives paid to investors	¥ 202,463

SHORT-TERM INVESTMENTS, NET - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jul. 15, 2019 USD ($)
Short-term investments		$ 0	$ 0
Impairment of short-term investment \| ¥	¥ 67,169
Cornerstone Management, Inc
Short-term investments				$ 10,000
Interest rate on investments				8.00%

LOANS RECEIVABLE, NET - Summary of loans receivable, net (Detail) $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	¥ 292,342,000
Allowance for credit losses	0		¥ 0
Financial assets receivable, net	292,342,000	$ 42,386
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	21,142,000		27,584,000
Allowance for credit losses	(17,991,000)		(27,255,000)	¥ (27,700,000)
Financial assets receivable, net	¥ 3,151,000		¥ 329,000

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

+ Details

LOANS RECEIVABLE, NET - Summary of balances of loans receivable by due date (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Financing Receivable Recorded Investment Past Due [Line Items]
Loans receivable, net	¥ 292,342	$ 42,386
Loans Receivable
Financing Receivable Recorded Investment Past Due [Line Items]
Loans receivable, net	3,151		¥ 329
Undue \| Loans Receivable
Financing Receivable Recorded Investment Past Due [Line Items]
Loans receivable, net	632		274
1-14 Days Past Due \| Loans Receivable
Financing Receivable Recorded Investment Past Due [Line Items]
Loans receivable, net	221		28
15 Days or Greater Past Due \| Loans Receivable
Financing Receivable Recorded Investment Past Due [Line Items]
Loans receivable, net	¥ 2,298		¥ 27

LOANS RECEIVABLE, NET - Summary of the allowance for credit losses (Detail) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of the year	¥ 0
Balance at end of the year	0	¥ 0
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of the year	(27,255,000)	(27,700,000)
Current year credit losses	(18,609,000)	(27,735,000)	¥ (27,498,000)
Current year write off	27,665,000	9,087,000
Disposal of a subsidiary		18,236,000
Foreign currency exchange	208,000	857,000	(202,000)
Balance at end of the year	¥ (17,991,000)	¥ (27,255,000)	¥ (27,700,000)

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET - Summary of accounts receivable (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Receivables [Abstract]
Receivables for loan referral service from institutional funding partners	¥ 1,313,288	¥ 315,895
Less: allowance for credit losses	(2,539)	0	¥ (60,679)
Total accounts receivable	¥ 1,310,749	¥ 315,895

ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET - Summary of movement of allowance for uncollectible receivables (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020
Receivables [Abstract]
Balance at the beginning of the year	¥ 0	¥ 60,679
Current year credit losses	2,539	49,231
Current year write off		¥ (109,910)
Balance at end of the year	¥ 2,539

ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET - Summary of Contract Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Contract with Customer, Asset, after Allowance for Credit Loss [Abstract]
Contract assets	¥ 421,469	¥ 186,536
Contract assets, net	¥ 421,469	¥ 186,536

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schudule of Prepaid Expenses And Other Current Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Prepaid Expense and Other Assets, Current [Abstract]
Security deposits	¥ 414,400		¥ 0
Advances	16,452		19,414
Others	41,978		42,841
Prepaid expenses and other current assets	¥ 472,830	$ 68,554	¥ 62,255

PROPERTY AND EQUIPMENT, NET - Summary of property and equipment, net (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Property Plant And Equipment [Line Items]
Total costs	¥ 94,742		¥ 77,280
Less: accumulated depreciation and amortization	(75,842)		(68,180)
Property and equipment, net	18,900	$ 2,740	9,100
Leasehold improvement
Property Plant And Equipment [Line Items]
Total costs	8,093		8,093
Motor vehicles
Property Plant And Equipment [Line Items]
Total costs	3,038		1,993
Electronic equipment
Property Plant And Equipment [Line Items]
Total costs	74,360		58,561
Office equipment & furniture
Property Plant And Equipment [Line Items]
Total costs	7,844		7,226
Software
Property Plant And Equipment [Line Items]
Total costs	¥ 1,407		¥ 1,407

PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expenses	¥ 7,668	¥ 13,077	¥ 20,483

LONG-TERM INVESTMENTS - Additional Information (Detail)					12 Months Ended
LONG-TERM INVESTMENTS - Additional Information (Detail)	Jan. 05, 2021	Sep. 29, 2020 CNY (¥)	Jan. 31, 2020 CNY (¥)	May 31, 2019 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Mar. 13, 2020 shares
Long Term Investments [Line Items]
(Loss) income from investment in affiliates					¥ 7,940,000	$ 1,152,000	¥ 7,651,000		¥ (7,509,000)
Long-term investment					90,497,000		90,528,000			$ 13,121,000
Impairment on investment					15,078,000		0		49,000
China Smartpay
Long Term Investments [Line Items]
Long-term investment					90,497,000		84,709,000
Keen Best
Long Term Investments [Line Items]
(Loss) income from investment in affiliates					(1,211,000)		(806,000)		(822,000)
Number of ordinary shares acquired \| shares											35
Equity Percent Acquired											35.00%
Purchase price for shares		¥ 91,957,000
Goodwill		¥ 1,508,000
Impairment on investment \| $								$ 0
SG Fintech Joint Stock Company
Long Term Investments [Line Items]
(Loss) income from investment in affiliates									(6,687,000)
Equity Percent Acquired			24.10%	24.90%
Impairment on investment									¥ 49,000
Cash consideration			¥ 3,378,000	¥ 3,400,000
Aguila Information
Long Term Investments [Line Items]
Equity ownership percent transferred	6.00%
Aguila Information, S.A.P.I. de C.V.
Long Term Investments [Line Items]
Equity ownership percent before agreement to transfer equity interest	51.00%
Equity ownership percent after agreement to transfer equity interest	45.00%
(Loss) income from investment in affiliates					9,151,000		8,457,000
Dividend return							2,586,000
Long-term investment					15,078,000		¥ 5,819,000
Impairment on investment					¥ 15,078,000

ACQUISITION - Additional Information (Detail) - CNY (¥) ¥ in Thousands		12 Months Ended
	Apr. 30, 2021	Dec. 31, 2021
Shanghai Bweenet Subsidiary
Business Acquisition [Line Items]
Equity ownership percent transferred	95.00%
Shanghai Bweenet
Business Acquisition [Line Items]
Equity interest consideration	¥ 95,000
Consideration transferred through cash	8,513
Business Combination, Consideration Transferred	¥ 86,487
Business acquisition, net revenue since acquisition date		¥ 26,837
Business acquisition, net loss since acquisition date		¥ 1,744

ACQUISITION - Schedule of Allocation of Purchase Price (Detail) - Shanghai Bweenet ¥ in Thousands	Apr. 30, 2021 CNY (¥)
Business Acquisition [Line Items]
Cash and cash equivalents	¥ 1,145
Accounts receivable	39,952
Inventories	38,590
Prepaid expenses and other current assets	37,474
Short-term loan	(4,000)
Accounts payable	(12,994)
Payroll and welfare payables	(337)
Tax payables	3,600
Accrued expenses and other current liabilities	(3,430)
Noncontrolling interests	(5,000)
Total Consideration	¥ 95,000

DISPOSAL OF SUBSIDIARIES - Additional Information (Detail) $ in Thousands					12 Months Ended
	Dec. 29, 2021 CNY (¥)	Apr. 30, 2021 CNY (¥)	Jan. 05, 2021 MXN ($)	Jan. 05, 2021 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Aug. 31, 2019 CNY (¥)
Shanghai Caiyin Asset Management Co Ltd
Business Acquisition [Line Items]
Loans receivable waived off							¥ 1,973,613,000
Contingent amount					¥ 117,021,000	¥ 255,064,000	372,085,000
Shanghai Caiyin
Business Acquisition [Line Items]
Sale value of disposal group								¥ 1,078,686,000
Contingent consideration receivable								¥ 372,085,000
Disposal group, including discontinued operation, gain derived from release of contingent consideration payable					117,021,000	138,043,000	¥ 117,021,000
Disposal group accounts payable					322,028,000
Disposal group fixed payable					188,300,000	¥ 205,007,000
Disposal group contingent payable					¥ 117,021,000
Aguila Information
Business Acquisition [Line Items]
Equity ownership percent transferred			6.00%	6.00%
Shanghai Bweenet Subsidiary
Business Acquisition [Line Items]
Equity ownership percent transferred		95.00%
Jiayin Finance
Business Acquisition [Line Items]
Purchase price for shares	¥ 93,343,000
Gain or loss recognized	¥ 0
Jiayin Finance \| Shanghai Bweenet Subsidiary
Business Acquisition [Line Items]
Equity ownership percent transferred	95.00%
Shanghai Bweenet
Business Acquisition [Line Items]
Purchase price for shares		¥ 86,487,000
Shanghai Zhundian Enterprise Service Co Ltd
Business Acquisition [Line Items]
Purchase price for shares	¥ 1,037,000
Gain or loss recognized	¥ 3,592,000
Shanghai Zhundian Enterprise Service Co Ltd \| Shanghai Zhundian Subsidiary
Business Acquisition [Line Items]
Equity ownership percent transferred	70.00%
Noble Fintech
Business Acquisition [Line Items]
Purchase price for shares \| $			$ 1
Gain or loss recognized				¥ 1,256,000
Noble Fintech \| Aguila Information
Business Acquisition [Line Items]
Equity ownership percent transferred			6.00%	6.00%

SHARE-BASED COMPENSATION - Summary of share-based compensation expenses (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-Based Payment Arrangement, Noncash Expense	¥ 42,548	$ 6,169	¥ 15,186	¥ 30,652
Origination and servicing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-Based Payment Arrangement, Noncash Expense	2,408		3,159	3,167
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-Based Payment Arrangement, Noncash Expense	33,740		5,021	8,870
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-Based Payment Arrangement, Noncash Expense	6,038		5,461	10,170
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-Based Payment Arrangement, Noncash Expense	¥ 362		¥ 1,545	¥ 8,445

SHARE-BASED COMPENSATION - Additional Information (Detail) ¥ / shares in Units, ¥ in Thousands, $ in Thousands	1 Months Ended							12 Months Ended
	Dec. 31, 2022 CNY (¥) shares	Sep. 30, 2022 shares	Aug. 31, 2021 ¥ / shares shares	Nov. 30, 2020 ¥ / shares shares	Nov. 30, 2019 ¥ / shares shares	Oct. 31, 2018 ¥ / shares shares	Sep. 30, 2016 ¥ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Mar. 31, 2022	Dec. 31, 2021 ¥ / shares	Mar. 31, 2021	Dec. 31, 2020 ¥ / shares	Mar. 31, 2020	Dec. 31, 2019 CNY (¥)	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2022 USD ($)
Options cancelled							2,377,000
Unrecognized share-based compensation expense recognized \| ¥								¥ 35,693						¥ 39,390
Weighted average grant date fair value of options granted \| ¥ / shares										¥ 18.60		¥ 14.78
Total share-based compensation cost \| ¥								¥ 35,693						¥ 39,390
Total unrecognized compensation cost related to non-vested stock options \| ¥	¥ 4,886							¥ 4,886
Total unrecognized compensation cost related to non-vested stock options, weighted-average period								1 year 3 months 7 days
Options
Unrecognized share-based compensation expense recognized \| ¥								¥ 6,855
Total share-based compensation cost \| ¥								¥ 6,855
RSU
Options granted in period								4,080,000
Weighted average grant date fair value of options granted \| ¥ / shares								¥ 16.66
Total unrecognized compensation cost related to non-vested stock options \| $																		$ 29,720
Weighted average vesting period								1 year 2 months 15 days
Two Thousand Eighteen incentive paln
Options cancelled						1,169,000
Two Thousand Nineteen Incentive Plan
Options granted in period			108,400	1,583,000	288,000
Options exercise price \| ¥ / shares			¥ 3.5	¥ 3.5	¥ 3.5
Two Thousand Nineteen Incentive Plan \| RSU
Options granted in period	1,200,000	2,880,000
Jiayin Finance
Percentage of total outstanding shares							27.00%
Jiayin Finance \| Share-based Compensation Award, Tranche One
Options granted in period							13,321,500
Options exercise price \| ¥ / shares							¥ 3.5
Jiayin Finance \| Share-based Compensation Award, Tranche One \| Employee Stock
Options life							4 years 6 months
Options vesting percentage													30.00%		30.00%	25.00%	15.00%
Jiayin Finance \| Share-based Compensation Award, Tranche Two
Options granted in period						2,851,600
Options exercise price \| ¥ / shares						¥ 3.5
Jiayin Finance \| Share-based Compensation Award, Tranche Two \| Employee Stock
Options life						4 years 6 months
Options vesting percentage									30.00%		30.00%		25.00%		15.00%
Jiayin Finance \| Employee incentive plan
Shares that will be used under the Plan							13,500,000

SHARE-BASED COMPENSATION - Summary of assumptions to estimate fair value of options at date of grant (Detail)	1 Months Ended
	Nov. 30, 2020 ¥ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Average risk-free rate of interest, Minimum	0.23%
Average risk-free rate of interest, Maximum	0.60%
Estimated volatility rate, Minimum	49.74%
Estimated volatility rate, Maximum	53.91%
Exercise multiples	2.80%
Dividend yield	0.00%
Time to maturity, Minimum	0 years
Time to maturity, Maximum	3 years
Fair value per underlying ordinary share	¥ 18.33

SHARE-BASED COMPENSATION - Summary of aggregate option activities (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Options - Beginning balance	1,751,000
Number of Option - Exercised	(637,000)
Number of Options - Forfeited	(220,000)
Number of Options - Ending balance	894,000	1,751,000
Number of Options - Options exercisable	488,000
Number of Options - Options vested or expected to be vested	894,000
Weighted Average Exercise Price - Beginning balance \| ¥ / shares	¥ 3.5
Weighted Average Exercise Price - Ending balance \| ¥ / shares	3.5	¥ 3.5
Weighted Average Exercise Price - Options exercisable \| ¥ / shares	3.5
Weighted Average Exercise Price - Options vested or expected to be vested \| ¥ / shares	¥ 3.5
Weighted Average Remaining Contract Life - Options outstanding - Beginning balance	1 year 3 months 7 days	1 year 10 months 28 days
Weighted Average Remaining Contract Life - Options outstanding - Ending balance	1 year 3 months 7 days	1 year 10 months 28 days
Weighted Average Remaining Contract Life - Options exercisable	4 months 24 days
Weighted Average Remaining Contract Life - Options vested or expected to be vested	1 year 3 months 7 days
Aggregate Intrinsic Value - Options outstanding \| ¥	¥ 16,076	¥ 45,349
Aggregate Intrinsic Value - Options exercisable \| ¥	9,229
Aggregate Intrinsic Value - Options vested or expected to be vested \| ¥	¥ 16,076

SHARE-BASED COMPENSATION - Summary of Group's RSUs activities (Details) - ¥ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Grant-Date Fair Value - Canceled/Forfeited		¥ 18.60	¥ 14.78
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of RSU'S - Granted	4,080
Number of RSU'S - Vested	2,020
Number of RSU'S - Canceled/Forfeited	160
Number of RSU'S - Ending balance	1,900
Weighted Average Grant-Date Fair Value - Granted	¥ 16.69
Weighted Average Grant-Date Fair Value - Vested	16.59
Weighted Average Grant-Date Fair Value - Canceled/Forfeited	16.66
Weighted Average Grant-Date Fair Value - Ending balance	¥ 16.72

INCOME TAXES - Summary of income tax expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Income Tax Disclosure [Abstract]
Current income tax expense:	¥ 177,720		¥ 141,578	¥ 83,216
Deferred income tax expense (benefit):	(22,322)		(15,854)	25,595
Total income tax expense	¥ 155,398	$ 22,531	¥ 125,724	¥ 108,811

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Additional Information (Detail) - CNY (¥) ¥ in Thousands		12 Months Ended
	Jan. 05, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Income tax rate		25.00%	25.00%	25.00%
Income tax reconciliation percentage of tax holiday exemption		10.99%	4.74%	2.12%
Valuation allowances		¥ 73,189	¥ 68,932	¥ 4,102
Tax loss carry-forward		¥ 45,640
Tax loss carry-forward, limitations on use		The Group operates its business through its subsidiaries and VIEs. The Group does not file consolidated tax returns, therefore, losses from individual subsidiaries or the VIEs may not be used to offset other subsidiaries’ or VIEs’ earnings within the Group.
Unrecognized tax benefits		¥ 240,319	211,064	176,553
Unrecognized tax benefits, interest expense or penalty		0	0
Expiring between 2023 to 2027
Income Taxes [Line Items]
Tax loss carry-forward		¥ 60,128
Shanghai Chuangzhen Software Co., Ltd.
Income Taxes [Line Items]
Income tax reconciliation tax holiday exemption amount			¥ 0	¥ 0
Income tax holiday exemption period			3 years	3 years
Income tax reconciliation percentage of tax holiday exemption			50.00%	50.00%
Hong Kong
Income Taxes [Line Items]
Income tax rate		25.00%
Preferential tax rate		15.00%
Hong Kong \| Geerong Yunke Information Technology Co., Ltd
Income Taxes [Line Items]
Preferential tax rate		15.00%
Hong Kong \| Geerong Yunke Information Technology Co., Ltd \| Minimum
Income Taxes [Line Items]
Entitled preferential income tax rate year		2022
Hong Kong \| Geerong Yunke Information Technology Co., Ltd \| Maximum
Income Taxes [Line Items]
Entitled preferential income tax rate year		2024
Hong Kong \| Jiayin Shuke Information Technology Co., Ltd
Income Taxes [Line Items]
Preferential tax rate		15.00%
Hong Kong \| Jiayin Shuke Information Technology Co., Ltd \| Minimum
Income Taxes [Line Items]
Entitled preferential income tax rate year		2022
Hong Kong \| Jiayin Shuke Information Technology Co., Ltd \| Maximum
Income Taxes [Line Items]
Entitled preferential income tax rate year		2024
Hong Kong
Income Taxes [Line Items]
Effective income tax rate till two million		8.25%
Effective income tax rate above two million		16.50%
Mexico
Income Taxes [Line Items]
Income tax rate	30.00%
Indonesia
Income Taxes [Line Items]
Percentage of CIT rate		25
Percentage of Corporate Income Tax adjust		20	22	22
Nigeria
Income Taxes [Line Items]
Percentage of corporate income tax rate for large company		30

INCOME TAXES - Summary of significant components of deferred tax assets and deferred tax liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets
Payroll and welfare payable	¥ 13,908	¥ 10,740
Accrued expenses	38,720	19,920
Property, plant and equipment		11
Unrealised Exchange Difference	87
Allowance for uncollectible receivables, contract assets, loans receivable and others	56,436	53,343
Net loss carryforward	23,514	21,939
Others	11,435	11,435
Gross deferred tax assets	144,100	117,388
Valuation allowances	(73,189)	(68,932)	¥ (4,102)
Net deferred tax assets	70,911	48,456
Deferred tax liabilities
Property, plant and equipment	(133)
Total deferred tax liabilities	(133)
Deferred tax assets, net	¥ 70,778	¥ 48,456

INCOME TAXES - Summary of changes in valuation allowance (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Balance at beginning of the year	¥ (68,932)	¥ (4,102)
Additions	(4,880)	(68,755)
Reversals	623	2,924
Disposal of subsidiaries		1,001
Balance at end of the year	¥ (73,189)	¥ (68,932)

INCOME TAXES - Summary of reconciliations of differences between PRC statutory income tax rate and group's effective income tax rate (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory income tax rate	25.00%	25.00%	25.00%
Non-taxable income	(0.71%)	(0.28%)
Reversal of deferred tax liabilities*		(9.75)
Non-deductible expense	1.23%	0.81%	2.54%
Disposal of subsidiaries		(0.25%)
Research and Development expense super deduction	(2.09%)	(0.81%)	(0.62%)
Effect of tax holiday	(10.99%)	(4.74%)	(2.12%)
Different tax rate of entities operating in other jurisdiction	0.55%	0.28%	4.86%
Valuation allowance	0.32%	11.09%	0.61%
True up	(1.68%)	(0.17%)	0.05%
Effective tax rate	11.63%	21.18%	30.32%

INCOME TAXES - Summary of effect of tax holiday (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax saving amount due to HNTE status	¥ 145,694
Tax saving amount due to Software enterprise	1,152	¥ 28,131	¥ 7,527
Tax expense amount due to other jurisdiction	¥ (7,405)	¥ (1,690)	¥ (17,405)
Income (loss) per share effect-basic and diluted	¥ 0.65	¥ 0.12	¥ (0.05)

INCOME TAXES - Summary of total unrecognized tax benefits (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Total unrecognized tax benefits, beginning balance	¥ 211,064	¥ 176,553
Increase related to current year tax positions	29,255	34,511
Total unrecognized tax benefits, ending balance	¥ 240,319	¥ 211,064

ORDINARY SHARES AND TREASURY STOCK - Additional Information (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands		12 Months Ended
	May 10, 2019 CNY (¥) Vote shares	Dec. 31, 2020 shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares shares	May 10, 2019 $ / shares shares
Common shares, par value \| $ / shares						$ 0.000000005
Common shares, shares outstanding						216,100,000
Treasury stock, shares			2,372,596	2,372,596	0
Stock sale price \| $ / shares						$ 10.50
IPO Expenses Capitalization \| ¥	¥ 234,354
Common Class A [Member]
Common shares, shares authorized			10,000,000,000,000	10,000,000,000,000	10,000,000,000,000
Common shares, par value \| $ / shares				$ 0.000000005	$ 0.000000005
Common shares, shares outstanding			105,727,404	105,727,404	108,100,000	100,100,000
Common Stock, Shares, Issued			108,100,000	108,100,000	108,100,000
Number of votes \| Vote	1
Common Class B [Member]
Common shares, shares authorized			10,000,000,000,000	10,000,000,000,000	10,000,000,000,000
Common shares, par value \| $ / shares				$ 0.000000005	$ 0.000000005
Common shares, shares outstanding			108,000,000	108,000,000	108,000,000	116,000,000
Common Stock, Shares, Issued			108,000,000	108,000,000	108,000,000
Number of votes \| Vote	10
ADS
Stock issued during period	4,025,000
Ordinary shares
Stock issued during period	16,100,000
Ordinary shares \| Common Class A [Member]
Ordinary shares repurchased			5,994,368	5,994,368
Ordinary shares repurchased amount			¥ 24,012	$ 3,454
Weighted average price of shares repurchased \| $ / shares				$ 2.31
Conversion of Class B Ordinary Share to Class A Ordinary Share		8,000,000
Ordinary shares \| Common Class B [Member]
Conversion of Class B Ordinary Share to Class A Ordinary Share		(8,000,000)

INCOME PER SHARE - Summary of computation of basic and diluted net income per share attribute to ordinary shareholders after stock split (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Earnings Per Share [Abstract]
Net income attributable to ordinary shareholders – basic and diluted	¥ 1,179,658	$ 171,034	¥ 472,086	¥ 252,883
Weighted average number of ordinary shares outstanding - basic	215,259,640	215,259,640	216,100,000	216,100,000
Weighted average number of ordinary shares outstanding - diluted	215,259,640	215,259,640	216,100,000	216,100,000
Basic net income per share \| (per share)	¥ 5.48	$ 0.79	¥ 2.18	¥ 1.17
Diluted net income per share \| (per share)	¥ 5.48	$ 0.79	¥ 2.18	¥ 1.17

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

INCOME PER SHARE - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Shares with dilutive effect	0	0	0

LEASES - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expenses	¥ 29,229	¥ 17,892	¥ 26,466
Short-term leases expense	¥ 7,158	¥ 109

LEASES - Summary of supplemental consolidated balance sheet information related to leases (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Summary Of Supplemental Consolidated Balance Sheet Information Related To Leases [Abstract]
Operating leases right-of-use assets	¥ 27,604	$ 4,002	¥ 35,507
Current portion of lease liabilities	24,986		16,908
Non-current portion of lease liabilities	2,479		18,335
Total operating lease liabilities	¥ 27,465	$ 3,982	¥ 35,243
Weighted average remaining lease term (in years)	1 year 2 months 12 days	1 year 2 months 12 days	2 years 1 month 6 days
Weighted average discount rate	4.75%	4.75%	4.75%

LEASES - Summary of cash flow information related to leases (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	¥ 21,977		¥ 16,490
Non-cash right-of-use assets in exchange for new lease liabilities:
Non-cash right-of-use assets in exchange for new lease liabilities (see Note 15)	¥ 12,655	$ 1,835	¥ 47,101	¥ 4,734

LEASES - Summary of maturities of lease payments (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2023	¥ 25,780
2024	2,433
Total lease payment	28,213
Less imputed interest	(748)
Total operating lease liabilities	¥ 27,465	$ 3,982	¥ 35,243

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses And Other Current Liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Payables and Accruals [Abstract]
Deposits	¥ 287,001
Accrued expenses	254,943		¥ 89,329
Others	30,191		29,479
Accrued expenses and other current liabilities	¥ 572,135	$ 82,953	¥ 118,808

- Definition

Deposits From a Third Party.

+ References + Details

RELATED PARTY TRANSACTIONS - Summary of transactions with and amounts due from and due to related parties (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Services provided to related parties	¥ 6,567	¥ 34,619	¥ 6,209
Loans from related parties		15,000	3,113
Amounts due from related parties
Due from Related Parties	17,750	37,017		$ 2,574
Amounts due to related parties
Amounts due to related parties	566	4,485		$ 82
Services Provided By Related Parties
Related Party Transaction [Line Items]
Services provided by related parties	135,420	77,048	70,481
Services Provided To Related Parties
Related Party Transaction [Line Items]
Services provided to related parties	6,567	34,619	6,209
Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties	56,416	203,146	542
Loans From Related Parties
Related Party Transaction [Line Items]
Loans from related parties		15,000	3,113
Shanghai Jiayin Zhuoyue Wealth Management Co., Ltd
Amounts due to related parties
Amounts due to related parties	408	4,485
Shanghai Jiayin Zhuoyue Wealth Management Co., Ltd \| Services Provided By Related Parties
Related Party Transaction [Line Items]
Services provided by related parties	122,946	77,048	55,207
Shanghai Jiayin Finance Services Co., Ltd
Amounts due from related parties
Due from Related Parties	500	500
Amounts due to related parties
Amounts due to related parties	158
Shanghai Jiayin Finance Services Co., Ltd \| Services Provided By Related Parties
Related Party Transaction [Line Items]
Services provided by related parties	12,474		5,845
Shanghai Jiayin Finance Services Co., Ltd \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties	35,000	47,840
Jiayin (Shanghai) Finance Information Service Co., Ltd \| Services Provided By Related Parties
Related Party Transaction [Line Items]
Services provided by related parties			9,004
Limahui Technology Co. Ltd \| Services Provided By Related Parties
Related Party Transaction [Line Items]
Services provided by related parties			425
Kailiantong Payment Service Co., Ltd. \| Services Provided To Related Parties
Related Party Transaction [Line Items]
Services provided to related parties			6,209
Aguila Information, S.A.P.I. de C.V.
Amounts due from related parties
Due from Related Parties		16,507
Aguila Information, S.A.P.I. de C.V. \| Services Provided To Related Parties
Related Party Transaction [Line Items]
Services provided to related parties	6,567	34,619
Aguila Information, S.A.P.I. de C.V. \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties	4,173
Subsidiary Shareholder
Amounts due from related parties
Due from Related Parties	7	4
Subsidiary Shareholder \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties			463
Subsidiary Shareholder \| Loans From Related Parties
Related Party Transaction [Line Items]
Loans from related parties			3,113
GAYANG (Hong Kong) Co., Limited
Amounts due from related parties
Due from Related Parties	17,243	20,006
GAYANG (Hong Kong) Co., Limited \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties	¥ 17,243	31,306
Subsidiary Director \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties			¥ 79
Shanghai Jiajie Assets Management Co., Ltd \| Loans From Related Parties
Related Party Transaction [Line Items]
Loans from related parties		15,000
Massnet Microcredit \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties		54,000
Jiayin Financial Leasing (Shanghai) Co., Ltd \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties		¥ 70,000

RELATED PARTY TRANSACTIONS - Summary of transactions with and amounts due from and due to related parties (Parenthetical) (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Aug. 01, 2022 ft²	Jul. 31, 2022 ft²	May 31, 2021 CNY (¥)
Related Party Transaction [Line Items]
Fnancial assets receivable, allowance for credit losses		¥ 0	¥ 0
Right-of-use assets		27,604,000	35,507,000		$ 4,002
Lease liabilities		27,465,000	35,243,000		$ 3,982
Aguila Information, S.A.P.I. de C.V.
Related Party Transaction [Line Items]
Accrued interest			16,114,000
Fnancial assets receivable, allowance for credit losses		3,905,000
Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties		56,416,000	203,146,000	¥ 542,000
Massnet Microcredit
Related Party Transaction [Line Items]
Non-interest bearing loan collected								¥ 54,000,000
Massnet Microcredit \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties			54,000,000
Shanghai Jiayin Finance Services Co., Ltd
Related Party Transaction [Line Items]
Lease period	12 months
Option to extend	extended to another year
Option to extend [true false]	true
Area of land rented \| ft²						2,400	2,916
Right-of-use assets		5,679,000
Lease liabilities		6,600,000
Shanghai Jiayin Finance Services Co., Ltd \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties		35,000,000	47,840,000
GAYANG (Hong Kong) Co., Limited
Related Party Transaction [Line Items]
Non-interest bearing loan collected		1,408,000	11,471,000
Non-interest bearing loan		9,193,000	20,664,000
Interest bearing loan		¥ 17,243,000	¥ 10,642,000
Fixed annual interest rate		8.00%	8.00%		8.00%
Accrued interest		¥ 638,000	¥ 171,000
Fnancial assets receivable, allowance for credit losses		10,043,000
GAYANG (Hong Kong) Co., Limited \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties		¥ 17,243,000	¥ 31,306,000
Subsidiary Director \| Loans To Related Parties
Related Party Transaction [Line Items]
Loans to related parties				¥ 79,000
Interest rate on loan receivable				6.00%

COMMITMENTS AND CONTINGENCIES Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Payment of litigation settlement	$ 2.0

RESTRICTED NET ASSETS - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)
Restricted Net Assets [Abstract]
Minimum percentage of after tax profit to be allocated to statutory reserve	10.00%
Percentage of registered capital where entity has the right to discontinue allocations to the statutory reserve	50.00%
Amounts restricted that include paid in capital and statutory reserve funds, as determined pursuant to PRC GAAP	¥ 238,201

SUBSEQUENT EVENTS - Additional Information (Detail) - CNY (¥) ¥ in Millions			12 Months Ended
	Apr. 19, 2023	Apr. 04, 2023	Dec. 31, 2022
RSU
Subsequent Event [Line Items]
Options granted in period			4,080,000
Weighted average vesting period			1 year 2 months 15 days
Subsequent Event
Subsequent Event [Line Items]
Base transaction consideration		¥ 395.0
Subsequent Event \| RSU
Subsequent Event [Line Items]
Options granted in period	3,160,000
Weighted average vesting period	4 years
Subsequent Event \| Shenzhen Rongxinbao
Subsequent Event [Line Items]
Equity Percent Acquired		100.00%
Purchase price for shares		¥ 395.0
Subsequent Event \| Intercompany
Subsequent Event [Line Items]
Base transaction consideration		316.2
Subsequent Event \| Shanghai Caiyin Asset Management Co Ltd
Subsequent Event [Line Items]
Base transaction consideration		¥ 78.7

FINANCIAL STATEMENTS SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY BALANCE SHEETS (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Current assets
Cash and cash equivalents	¥ 291,018	$ 42,194	¥ 182,551	¥ 117,320
Prepaid and other current assets	472,830	68,554	62,255
TOTAL ASSETS	3,020,870	437,986	971,432
Current Liabilities
Accrued expenses and other current liabilities	572,135	82,953	118,808
TOTAL LIABILITIES	1,779,367	257,985	945,683
Equity
Additional paid-in capital	870,562	126,220	840,580
(Accumulated deficit) retained earnings	384,896	55,805	(794,762)
Accumulated other comprehensive loss	(3,112)	(452)	(17,954)
Total Jiayin Group shareholder's equity	1,243,084	180,230	27,864
TOTAL LIABILITIES AND EQUITY	3,020,870	437,986	971,432
Parent Company
Current assets
Cash and cash equivalents	8,567	1,242	7,861
Amounts due from subsidiaries and VIEs	167,571	24,296	173,310
Prepaid and other current assets	3,248	471	2,838
Total current assets	179,386	26,009	184,009
Investments in subsidiaries and VIEs	1,087,634	157,692	(155,566)
TOTAL ASSETS	1,267,020	183,701	28,443
Current Liabilities
Amounts due to subsidiaries and VIEs	13,458	1,951	0
Accrued expenses and other current liabilities	10,478	1,520	579
TOTAL LIABILITIES	23,936	3,471	579
Equity
Ordinary shares	0	0	0
Treasury stock	(9,262)	(1,343)	0
Additional paid-in capital	870,562	126,220	840,580
(Accumulated deficit) retained earnings	384,896	55,805	(794,762)
Accumulated other comprehensive loss	(3,112)	(452)	(17,954)
Total Jiayin Group shareholder's equity	1,243,084	180,230	27,864
TOTAL LIABILITIES AND EQUITY	¥ 1,267,020	$ 183,701	¥ 28,443

FINANCIAL STATEMENTS SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Operating cost and expenses:
General and administrative	¥ (194,039)	$ (28,133)	¥ (165,150)	¥ (154,963)
Total operating cost and expenses	2,089,395	302,934	1,348,534	998,053
Loss from operations	1,182,019	171,376	431,956	302,107
Interest income (expense), net	281	42	(1,117)	7,716
Other expenses, net	43,447	6,299	16,952	6,711
Income (loss) before income tax expense and (loss) income from investment in affiliates	1,327,690	192,497	585,834	366,386
Income tax expense	155,398	22,531	125,724	108,811
Other comprehensive income, net of tax of nil
Foreign currency translation adjustments	14,802	2,146	(5,229)	(13,366)
Total comprehensive income attributable to Jiayin Group Inc.	1,194,500	173,186	466,949	239,597
Parent Company
Operating cost and expenses:
General and administrative	(6,494)	(942)	(6,979)	(6,740)
Total operating cost and expenses	(6,494)	(942)	(6,979)	(6,740)
Loss from operations	(6,494)	(942)	(6,979)	(6,740)
Interest income (expense), net	(76)	(11)	(1)	7,701
Other expenses, net	(13,445)	(1,949)	(154)	(67,169)
Income (loss) before income tax expense and (loss) income from investment in affiliates	(20,015)	(2,902)	(7,134)	(66,208)
Income tax expense	0	0	0	0
Equity in earnings of subsidiaries and VIEs	1,199,673	173,936	479,220	319,091
Net income	1,179,658	171,034	472,086	252,883
Other comprehensive income, net of tax of nil
Foreign currency translation adjustments	14,842	2,152	(5,137)	(13,286)
Other comprehensive (loss) income	14,842	2,152	(5,137)	(13,286)
Total comprehensive income attributable to Jiayin Group Inc.	¥ 1,194,500	$ 173,186	¥ 466,949	¥ 239,597

FINANCIAL STATEMENTS SCHEDULE I - CONDENSED STATEMENTS OF PARENT COMPANY CASH FLOW STATEMENTS (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash flows from operating activities
Net income	¥ 1,179,658	$ 171,034	¥ 472,086	¥ 252,883
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	9,961	1,444	15,674	23,158
Impairment of short-term investment				67,169
Changes in operating assets and liabilities:
Amount due from/to related parties	12,437	1,803	(35,245)	10,039
Prepaid expenses and other current assets	(434,318)	(62,970)	(5,822)	26,538
Accrued expenses and other current liabilities	444,064	64,383	54,898	(87,751)
Net cash (used in) provided by operating activities	133,592	19,367	184,540	(35,505)
Cash flows from investing activities
Loan to a related party	(56,416)	(8,180)	(203,146)	79
Net cash provided by (used in) investing activities	(22,949)	(3,328)	(126,222)	33,226
Cash flows from financing activities
Proceeds from exercise of options	2,184	317	7,352	6,982
Repurchase of ordinary shares	(14,750)	(2,139)
Net cash provided by (used in) financing activities	(12,566)	(1,822)	9,938	10,595
Net change in cash, cash equivalents and restricted cash	108,474	15,727	65,247	(2,829)
Cash, cash equivalents and restricted cash at beginning of the year	184,567	26,760	119,320	122,149
Cash, cash equivalents and restricted cash at end of the year	293,041	42,487	184,567	119,320
Parent Company
Cash flows from operating activities
Net income	1,179,658	171,034	472,086	252,883
Adjustments to reconcile net income to net cash flows from operating activities:
Share of results of subsidiaries and VIEs	(1,199,673)	(173,936)	(479,220)	(319,091)
Depreciation and amortization	2,293	332	2,597	2,675
Impairment of short-term investment		0		67,169
Changes in operating assets and liabilities:
Amounts due from subsidiaries and VIEs	(2,151)	(312)	(5,994)	(35,702)
Prepaid expenses and other current assets	(2,680)	(388)	18	(2,413)
Accrued expenses and other current liabilities	636	92	(1,804)	(3,548)
Net cash (used in) provided by operating activities	(21,917)	(3,178)	(12,317)	(38,027)
Cash flows from investing activities
Cash collected from loan to related parties				37,372
Net cash provided by (used in) investing activities				37,372
Cash flows from financing activities
Proceeds from exercise of options	8,783	1,273	3,296	6,982
Net cash provided by (used in) financing activities	8,783	1,273	3,296	6,982
Effect of foreign exchange rate changes on cash and cash equivalents	13,840	2,007	(4,331)	(12,337)
Net change in cash, cash equivalents and restricted cash	706	102	(13,352)	(6,010)
Cash, cash equivalents and restricted cash at beginning of the year	7,861	1,140	21,213	27,223
Cash, cash equivalents and restricted cash at end of the year	¥ 8,567	$ 1,242	¥ 7,861	¥ 21,213

FINANCIAL STATEMENTS SCHEDULE I - Additional Information (Detail)	Dec. 31, 2022	Dec. 30, 2022
Condensed Financial Information Disclosure [Abstract]
Convenience translation rate per US$1.00	6.8972	6.8972