INCOME TAXES (Tables)
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12 Months Ended |
Dec. 31, 2025 |
| INCOME TAXES |
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| Schedule of income (loss) before income tax, domestic and foreign |
| | | | | | | | | Year ended | | Year ended | | Year ended | | | December 31, | | December 31, | | December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Mainland China | | 5,455,438 | | 7,972,972 | | 7,336,643 | Hong Kong (1) | | — | | — | | 375,046 | Others | | (177,987) | | (80,550) | | (335,554) | Total | | 5,277,451 | | 7,892,422 | | 7,376,135 |
| (1) | Income before income taxes for Hong Kong was included in others and was not material for the year ended December 31, 2023 and 2024. |
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| Schedule of current and deferred portion of income tax expenses |
| | | | | | | | | Year ended | | Year ended | | Year ended | | | December 31, | | December 31, | | December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Current tax | | 935,897 | | 1,560,830 | | 1,704,701 | Deferred tax | | 72,977 | | 83,476 | | (304,209) | Total | | 1,008,874 | | 1,644,306 | | 1,400,492 |
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| Schedule of reconciliation between the income tax at PRC statutory tax rate and income tax expense |
| | | | | | | | Year ended December 31, 2025 | | | | RMB | | % | | Income before income tax expenses | | 7,376,135 | | | | Statutory tax rate in the PRC | | 25 | % | | | Income tax at statutory tax rate | | 1,844,033 | | 25.0 | % | Foreign Tax Effects | | | | | | Hong Kong | | (93,831) | | (1.3) | % | Tax exemption | | (94,774) | | (1.3) | % | Changes in valuation allowance | | 943 | | 0.0 | % | Other foreign jurisdictions | | (10,421) | | (0.1) | % | Non-deductible expenses | | | | | | Share-based compensation | | 94,593 | | 1.3 | % | Others | | 3,300 | | 0.0 | % | Preferential tax rate | | (679,618) | | (9.2) | % | Research and development super-deduction | | (62,704) | | (0.9) | % | Effect of cross - border tax laws | | 292,627 | | 4.0 | % | Changes in valuation allowance of deferred tax assets | | 12,513 | | 0.2 | % | Income tax expense | | 1,400,492 | | 19.0 | % |
| | | | | | | | Year ended | | Year ended | | | | December 31, | | December 31, | | | | 2023 | | 2024 | | | | RMB | | RMB | | Income before income tax expenses | | 5,277,451 | | 7,892,422 | | Statutory tax rate in the PRC | | 25 | % | 25 | % | Income tax at statutory tax rate | | 1,319,363 | | 1,973,106 | | Effect of different tax rate of subsidiary operation in other jurisdiction | | (4,016) | | (10,324) | | Effect of non-deductible expenses | | 47,467 | | 42,726 | | Effect of preferential tax rate | | (488,462) | | (744,996) | | Effect of research and development super-deduction | | (98,914) | | (102,658) | | Effect of withholding income tax | | 206,721 | | 470,966 | | Effect of valuation allowance movement of deferred tax assets | | 26,715 | | 15,486 | | Income tax expense | | 1,008,874 | | 1,644,306 | |
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| Schedule of the effect of preferential tax rates on the income per share |
| | | | | | | | | Year Ended December 31, | | | (Amounts in Thousands Except Per Share Data) | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Tax saving amount due to preferential tax rates | | 488,462 | | 744,996 | | 679,618 | Income per share effect-basic | | 1.52 | | 2.50 | | 2.55 | Income per share effect-diluted | | 1.49 | | 2.46 | | 2.50 |
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| Schedule of components of the deferred tax assets and deferred tax liabilities |
| | | | | | | December 31, | | December 31, | | | 2024 | | 2025 | | | RMB | | RMB | Deferred tax assets | | | | | Guarantee liabilities | | 2,017,547 | | 571,232 | Provision for loan losses | | 1,735,395 | | 2,238,472 | Depreciation of land use rights | | 55,539 | | 66,999 | Net operating loss carry forwards | | 78,356 | | 77,475 | Others | | 12,500 | | 11,694 | Gross deferred tax assets | | 3,899,337 | | 2,965,872 | Valuation allowance on deferred tax assets | | (116,174) | | (116,462) | Total deferred tax assets | | 3,783,163 | | 2,849,410 | Uncollected revenues | | (2,841,099) | | (1,533,009) | Withholding income tax | | (173,305) | | (254,955) | Others | | (1,869) | | (1,662) | Total deferred tax liabilities | | (3,016,273) | | (1,789,626) | Net deferred tax assets | | 766,890 | | 1,059,784 |
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