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The funds we advised through our External Investment Manager continued to experience favorable performance in the fourth quarter, resulting in significant incentive fee income for our asset management business for the ninth consecutive quarter and, together with our recurring managementfees, a significant contribution to our net investment income.
Fintech services revenues sustained a teens year-on-year growth rate on increased commercial payment volume, wealth managementfees, and consumer loan fees. Segment revenue is 54 billion renminbi in the fourth quarter, up 15% year on year. Gross profit grew faster than revenue due to a shift from social to commercial payments.
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