Yiren Digital Ltd. (NYSE:YRD) ("Yiren Digital" or the "Company"), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today provided a further update on several recent developments concerning the company amid the investigation involving certain affiliates of the Company's controlling shareholder.
Operational Independence and Update on Investigation
Yiren Digital is a NYSE-listed company with its own board of directors (the "Board") and management team and maintains financial reporting and day-to-day operations separate from those of its controlling shareholder. The Company continues to operate in the normal course of business and continues to maintain its operational independence as the investigation develops.
Based on information currently available to the Company, the investigation relates to business activities outside Yiren Digital and is not directly related to the Company's business operations. The Company focuses on AI-enabled financial services, insurance brokerage and technology-driven operations and does not provide any financial guarantees of any kind to its controlling shareholder or its affiliates.
Related-Party Financial Arrangements
Separately, the Company has previously disclosed certain related-party financial arrangements in its filings with the U.S. Securities and Exchange Commission. As disclosed in its unaudited financial results for the quarter ended June 30, 2026, released on September 30, 2026, the Company recognized a provision for credit losses on certain related-party loan receivables following a reassessment of their recoverability. The Company continues to assess the potential additional financial impact of recent developments, and will make any disclosures required under applicable laws, regulations and listing standards.
Share Repurchase Program
On July 2, 2026, the Company's Board authorized a share repurchase program of up to US$20 million over a 12-month period. As previously reported, the Company held cash and cash equivalents of approximately RMB1.7 billion (US$250 million) as of June 30, 2026. The Company believes it has sufficient financial resources to continue implementing the program, subject to market conditions, applicable regulatory requirements and the Company's liquidity needs.
Yiren Digital remains focused on operating prudently and in compliance with applicable laws and regulations, safeguarding the interests of its customers, business partners and shareholders, and maintaining transparent communication with investors and the capital markets.