X Financial (NYSE: XYF) saw its stock price surge 6.38% in pre-market trading on Thursday following the release of its fourth quarter and full year 2024 financial results. The Chinese online personal finance company reported impressive growth in both revenue and net income, exceeding market expectations.

For Q4 2024, X Financial's total net revenue jumped 43.3% year-over-year to RMB1.71 billion ($234.1 million), while net income more than doubled to RMB385.6 million ($52.8 million). The company's loan facilitation service fees, a key revenue driver, increased by 42.6% compared to the same period in 2023. Additionally, X Financial reported improvements in asset quality, with delinquency rates for loans past due for 31-60 days and 91-180 days both decreasing compared to the previous year.

Looking ahead, X Financial provided an optimistic outlook for 2025, expecting total loan volumes to increase by approximately 30% compared to 2024. The company also announced plans to continue investing in AI applications to enhance its technological capabilities and operational efficiency. With strong financial results and a positive growth outlook, investors responded favorably to X Financial's latest earnings report, driving the stock price higher in pre-market trading.