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Qudian Inc. Reports Second Quarter 2024 Unaudited Financial Results

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Qudian Inc. (NYSE: QD) reported its Q2 2024 unaudited financial results, showing significant improvements. Total revenues increased to RMB53.3 million (US$7.3 million), up from RMB11.1 million in Q2 2023. The company achieved a net income of RMB99.8 million (US$13.7 million), compared to a net loss of RMB76.9 million in the same period last year. Earnings per diluted ADS reached RMB0.53 (US$0.07).

Qudian's last-mile delivery business, launched under the brand name 'Fast Horse', has shown steady progress, generating RMB46.2 million in revenue in Q2 2024, a substantial increase from RMB4.3 million in Q2 2023. The service is now available in Australia and New Zealand.

The company continues its share repurchase program, having bought back 68.6 million ADSs for about US$121 million since June 2022.

Qudian Inc. (NYSE: QD) ha riportato i risultati finanziari non verificati per il secondo trimestre del 2024, mostrando miglioramenti significativi. Le entrate totali sono aumentate a RMB53.3 milioni (US$7.3 milioni), rispetto a RMB11.1 milioni nel secondo trimestre del 2023. L'azienda ha registrato un utile netto di RMB99.8 milioni (US$13.7 milioni), rispetto a una perdita netta di RMB76.9 milioni nello stesso periodo dell'anno scorso. L'utile per ADS diluita ha raggiunto RMB0.53 (US$0.07).

Il business di consegna dell'ultimo miglio di Qudian, lanciato con il nome 'Fast Horse', ha mostrato progressi costanti, generando RMB46.2 milioni in entrate nel secondo trimestre del 2024, un sostanziale aumento rispetto a RMB4.3 milioni nel secondo trimestre del 2023. Il servizio è ora disponibile in Australia e Nuova Zelanda.

L'azienda continua il suo programma di riacquisto di azioni, avendo riacquistato 68.6 milioni di ADS per circa US$121 milioni dal giugno 2022.

Qudian Inc. (NYSE: QD) reportó sus resultados financieros no auditados del segundo trimestre de 2024, mostrando mejoras significativas. Los ingresos totales aumentaron a RMB53.3 millones (US$7.3 millones), desde RMB11.1 millones en el segundo trimestre de 2023. La compañía logró un ingreso neto de RMB99.8 millones (US$13.7 millones), en comparación con una pérdida neta de RMB76.9 millones en el mismo período del año pasado. Las ganancias por ADS diluida alcanzaron RMB0.53 (US$0.07).

El negocio de entrega de última milla de Qudian, lanzado bajo la marca 'Fast Horse', ha mostrado un progreso constante, generando RMB46.2 millones en ingresos en el segundo trimestre de 2024, un aumento sustancial desde RMB4.3 millones en el segundo trimestre de 2023. El servicio ahora está disponible en Australia y Nueva Zelanda.

La empresa continúa su programa de recompra de acciones, habiendo recomprado 68.6 millones de ADS por aproximadamente US$121 millones desde junio de 2022.

Qudian Inc. (NYSE: QD)는 2024년 2분기 감사되지 않은 재무 결과를 보고하며 상당한 개선을 보여주었습니다. 총 수익은 RMB53.3백만으로 증가했습니다 (US$7.3백만), 2023년 2분기의 RMB11.1백만에서 증가했습니다. 회사는 RMB99.8백만의 순이익을 기록했습니다 (US$13.7백만), 작년 같은 기간에 비해 RMB76.9백만의 순손실과 비교됩니다. 희석된 ADS당 수익은 RMB0.53 (US$0.07)에 도달했습니다.

Qudian의 'Fast Horse'라는 브랜드로 출시된 마지막 마일 배송 비즈니스는 꾸준한 성과를 보여주며, 2024년 2분기에는 RMB46.2백만의 매출을 올렸습니다, 2023년 2분기의 RMB4.3백만에서 상당한 증가입니다. 이 서비스는 현재 호주와 뉴질랜드에서 제공되고 있습니다.

회사는 2022년 6월 이후 약 US$121백만에 해당하는 68.6백만 ADS를 다시 사들이며 주식 매입 프로그램을 계속 진행하고 있습니다.

Qudian Inc. (NYSE: QD) a annoncé ses résultats financiers non vérifiés pour le deuxième trimestre 2024, montrant des améliorations significatives. Les revenus totaux ont augmenté à 53,3 millions de RMB (7,3 millions de dollars), contre 11,1 millions de RMB au deuxième trimestre 2023. La société a réalisé un bénéfice net de 99,8 millions de RMB (13,7 millions de dollars), par rapport à une perte nette de 76,9 millions de RMB pour la même période l'année dernière. Le bénéfice par ADS dilué a atteint 0,53 RMB (0,07 $).

Le secteur de livraison du dernier kilomètre de Qudian, lancé sous la marque 'Fast Horse', a montré des progrès constants, générant 46,2 millions de RMB de revenus au deuxième trimestre 2024, une augmentation substantielle par rapport à 4,3 millions de RMB au deuxième trimestre 2023. Le service est désormais disponible en Australie et en Nouvelle-Zélande.

La société poursuit son programme de rachat d'actions, ayant racheté 68,6 millions d'ADS pour environ 121 millions de dollars depuis juin 2022.

Qudian Inc. (NYSE: QD) hat die ungeprüften Finanzzahlen des 2. Quartals 2024 veröffentlicht, die signifikante Verbesserungen zeigen. Die Gesamterlöse stiegen auf RMB53.3 Millionen (US$7.3 Millionen), im Vergleich zu RMB11.1 Millionen im 2. Quartal 2023. Das Unternehmen erzielte ein netto Einkommen von RMB99.8 Millionen (US$13.7 Millionen), im Vergleich zu einem Nettoverlust von RMB76.9 Millionen im selben Zeitraum des Vorjahres. Der Gewinn pro verwässertem ADS lag bei RMB0.53 (US$0.07).

Das letzte Meile Liefergeschäft von Qudian, das unter der Markenbezeichnung 'Fast Horse' gestartet wurde, zeigt stetige Fortschritte und erzielte RMB46.2 Millionen Umsatz im 2. Quartal 2024, ein erheblicher Anstieg von RMB4.3 Millionen im 2. Quartal 2023. Der Service ist jetzt in Australien und Neuseeland verfügbar.

Das Unternehmen setzt sein Aktienrückkaufprogramm fort und hat seit Juni 2022 68,6 Millionen ADS für etwa US$121 Millionen zurückgekauft.

Positive
  • Total revenues increased by 380% year-over-year to RMB53.3 million
  • Net income of RMB99.8 million, compared to a net loss in Q2 2023
  • Last-mile delivery business revenue grew to RMB46.2 million from RMB4.3 million year-over-year
  • Interest and investment income increased to RMB89.5 million from RMB6.8 million year-over-year
  • Gain on derivative instrument increased to RMB58.4 million from RMB10.4 million year-over-year
Negative
  • Total operating costs and expenses increased to RMB110.8 million from RMB106.7 million year-over-year
  • Loss from operations of RMB57.4 million, although improved from RMB94.1 million in Q2 2023
  • Net cash used in operating activities was RMB1,184.3 million
  • Net cash used in investing activities was RMB898.1 million
  • Net cash used in financing activities was RMB114.4 million

Insights

Qudian's Q2 2024 results show a significant turnaround, with total revenues increasing to RMB53.3 million from RMB11.1 million year-over-year. The company swung to a net profit of RMB99.8 million, compared to a net loss of RMB76.9 million in Q2 2023. This improvement is largely attributed to their new last-mile delivery business, which generated RMB46.2 million in revenue.

However, operating costs have increased, resulting in an operating loss of RMB57.4 million. The profit was mainly driven by non-operational factors such as interest and investment income (RMB89.5 million) and gains on derivative instruments (RMB58.4 million). This reliance on non-core income sources raises questions about the sustainability of profits.

The company's cash position remains strong at RMB4,849.0 million, but there was significant cash outflow in operations and investments. The ongoing share repurchase program, while potentially boosting shareholder value, also represents a substantial cash outlay.

Qudian's pivot to last-mile delivery services under the "Fast Horse" brand is a strategic move in the rapidly growing cross-border e-commerce market. The expansion from Australia to New Zealand indicates positive traction. However, the competitive landscape in this sector is intense, with established players like FedEx and DHL already dominating.

The company's ability to scale this business while managing costs will be crucial. The 380% year-over-year revenue growth in last-mile delivery is promising, but it's still early days. Investors should monitor customer acquisition costs, retention rates and market share gains in the coming quarters to assess the long-term viability of this new business model.

The complete wind-down of the QD Food business in 2023 also highlights the company's agility in pivoting from underperforming ventures, which is a positive sign for adaptability in a fast-changing market.

Qudian's increased investment in R&D, with expenses up 53.4% year-over-year, signals a commitment to technological innovation. This is important for competing in the last-mile delivery space, where efficiency and customer experience are paramount. The company likely needs to develop robust logistics software, route optimization algorithms and possibly explore automation technologies.

However, the lack of specific details on technological initiatives is concerning. Investors should seek more information on Qudian's tech strategy, including any plans for AI implementation, IoT integration for package tracking, or potential drone delivery experiments. The company's ability to differentiate itself technologically in the crowded last-mile delivery market will be key to its success and could provide a competitive edge if executed well.

XIAMEN, China, Sept. 6, 2024 /PRNewswire/ -- Qudian Inc. ("Qudian" or "the Company" or "We") (NYSE: QD), a consumer-oriented technology company in China, today announced its unaudited financial results for the quarter ended June 30, 2024.

Second Quarter 2024 Financial Highlights:

  • Total revenues were RMB53.3 million (US$7.3 million), compared to RMB11.1 million for the same period of last year
  • Net income attributable to Qudian's shareholders was RMB99.8 million (US$13.7 million), compared to net loss of RMB76.9 million for the same period of last year; net income per diluted ADS was RMB0.53 (US$0.07) for the second quarter of 2024
  • Non-GAAP net income attributable to Qudian's shareholders was RMB99.8 million (US$13.7 million), compared to Non-GAAP net loss of RMB76.9 million for the same period of last year. We exclude share-based compensation expenses from our non-GAAP measures. Non-GAAP net income per diluted ADS was RMB0.53 (US$0.07) for the second quarter of 2024

The Company's last-mile delivery business has made steady progress in 2024, which generated approximately RMB46.2 million in revenue in second quarter of 2024, compared to RMB4.3 million for the second quarter of 2023. Moving forward, the Company expects to remain steadfast in its commitment to executing its business transition and simultaneously maintaining prudent cash management to safeguard its balance sheet.

Second Quarter Financial Results

Sales income and others increased to RMB53.3 million (US$7.3 million), which was mostly attributable to sales income generated by last-mile delivery business, compared with RMB11.1 million for the second quarter of 2023, which was mainly attributable to sales income generated by QD Food business. We have completely wound down the QD Food business in 2023.

Total operating costs and expenses increased to RMB110.8 million (US$15.2 million) from RMB106.7 million for the second quarter of 2023.

Cost of revenues increased to RMB46.2 million (US$6.4 million) from RMB12.7 million for the second quarter of 2023, primarily due to the increase in service cost related to last-mile delivery business.

General and administrative expenses decreased by 27.9% to RMB47.2 million (US$6.5 million) from RMB65.4 million for the second quarter of 2023, primarily due to the reduce in professional services fees after the Company completed research and consultation for last-mile delivery business in its early stage.

Research and development expenses increased by 53.4% to RMB15.2 million (US$2.1 million) from RMB9.9 million for the second quarter of 2023, primarily due to the increase in staff head count as the Company continues to explore new business opportunities, which led to a corresponding increase in staff salaries.

Loss from operations was RMB57.4 million (US$7.9 million), compared to RMB94.1 million for the second quarter of 2023.

Interest and investment income, net increased to RMB89.5 million (US$12.3 million) from RMB6.8 million for the second quarter of 2023, primarily attributable to the increase of income from investments in the second quarter of 2024.

Gain on derivative instrument increased to RMB58.4 million (US$8.0 million) from RMB10.4 million for the second quarter of 2023, mainly attributable to the increase in quoted price of the underlying equity securities relating to the derivative instruments we held.

Net income attributable to Qudian's shareholders was RMB99.8 million (US$13.7 million), compared to net loss attributable to Qudian's shareholders of RMB76.9 million in the second quarter of 2023. Net income per diluted ADS was RMB0.53 (US$0.07).

Non-GAAP net income attributable to Qudian's shareholders was RMB99.8 million (US$13.7 million), compared to Non-GAAP net loss attributable to Qudian's shareholders of RMB75.5 in the second quarter of 2023. Non-GAAP net income per diluted ADS was RMB0.53 (US$0.07).

Cash Flow

As of June 30, 2024, the Company had cash and cash equivalents of RMB4,849.0 million (US$667.2 million) and restricted cash of RMB52.0 million (US$7.2 million).

For the second quarter of 2024, net cash used in operating activities was RMB1,184.3 million (US$163.0 million), mainly due to payments for labor-related costs and expenses and purchase of time and structured deposit. Net cash used in investing activities was RMB898.1 million (US$123.6 million), mainly due to purchase of short-term investments and purchase of property and equipment for the construction of the Company's innovation park. Net cash used in financing activities was RMB114.4 million (US$15.7 million), mainly due to the repurchase of ordinary shares.

Last-mile Delivery Business

In response to the surging demand for cross-border e-commerce transactions, the Company has proactively sought innovative logistic services and solutions to meet global consumers' expectations for swift and top-tier delivery services. In December 2022, the Company launched its last-mile delivery services under the brand name of "Fast Horse." The business was initially launched on a trial basis and has gradually achieved meaningful scale in Australia during the second quarter of 2023. As of the date of this release, the Company's last-mile delivery service is available in Australia and New Zealand.

Update on Share Repurchase

As previously disclosed, the Company established a share repurchase program in June 2022, under which the Company may purchase up to US$200 million worth of its Class A ordinary shares and/or ADSs over a 24-month period. From the launch of the share repurchase program on June 13, 2022 to June 12, 2024, the Company has in aggregate purchased 64.3 million ADSs in the open market for a total amount of approximately US$113.0 million (an average price of $1.8 per ADS) pursuant to the share repurchase program.

Our Board approved a share repurchase program in March 2024 to purchase up to US$300 million worth of Class A ordinary shares or ADSs in the next 36 months starting from June 13, 2024. From the launch of the share repurchase program on June 13, 2024 to September 3, 2024, the Company has in aggregate purchased 4.3 million ADSs in the open market for a total amount of approximately US$8.0 million (an average price of $1.9 per ADS) pursuant to the share repurchase program.

As of September 3, 2024, the Company has in aggregate purchased 158.6 million ADSs for a total amount of approximately US$702.3 million (an average price of $4.4 per ADS).

About Qudian Inc.

Qudian Inc. ("Qudian") is a consumer-oriented technology company. The Company historically focused on providing credit solutions to consumers. Qudian is exploring innovative logistics services to satisfy consumers' demand for e-commerce transactions by leveraging its technology capabilities.

For more information, please visit http://ir.qudian.com.

Use of Non-GAAP Financial Measures

We use Non-GAAP net income/loss attributable to Qudian's shareholders, a Non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. We believe that Non-GAAP net income/loss attributable to Qudian's shareholders helps identify underlying trends in our business by excluding the impact of share-based compensation expenses, which are non-cash charges. We believe that Non-GAAP net income/loss attributable to Qudian's shareholders provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Non-GAAP net income/loss attributable to Qudian's shareholders is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This Non-GAAP financial measure has limitations as an analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider them in isolation, or as a substitute for net loss /income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP.

We mitigate these limitations by reconciling the Non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating our performance.

For more information on this Non-GAAP financial measure, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Statement Regarding Preliminary Unaudited Financial Information

The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company's year-end audit, which could result in significant differences from this preliminary unaudited financial information.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the expectation of its collection efficiency and delinquency, contain forward-looking statements. Qudian may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Qudian's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Qudian's goal and strategies; Qudian's expansion plans; Qudian's future business development, financial condition and results of operations; Qudian's expectations regarding demand for, and market acceptance of, its products; Qudian's expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Qudian's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Qudian does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com

 

 

QUDIAN INC.

Unaudited Condensed Consolidated Statements of Operations










Three months ended June 30,

(In thousands except for number


2023


2024

of shares and per-share data)




(Unaudited)


(Unaudited)



RMB


RMB


US$








Revenues:







Sales income and others


11,088


53,328


7,338








Total revenues


11,088


53,328


7,338








Operating cost and expenses:







Cost of revenues


(12,667)


(46,248)


(6,364)

Sales and marketing


-


(1,054)


(145)

General and administrative


(65,419)


(47,165)


(6,490)

Research and development


(9,918)


(15,219)


(2,094)

Expected credit reversal for receivables and other assets


(17,313)


(751)


(103)

Impairment loss from other assets


(1,343)


(387)


(53)

Total operating cost and expenses


(106,660)


(110,824)


(15,249)

Other operating income


1,470


119


16








Loss from operations


(94,102)


(57,377)


(7,895)

Interest and investment income, net


6,798


89,485


12,314

Gain from equity method investments


2,661


820


113

Gain on derivative instruments


10,434


58,376


8,033

Foreign exchange loss, net


(42)


(1,186)


(163)

Other income


16,622


714


98

Other expenses


(308)


(342)


(47)








Net (loss)/income before income taxes


(57,937)


90,490


12,453

Income tax (expenses)/benefit


(18,928)


9,297


1,279








Net (loss)/income


(76,865)


99,787


13,732








Net (loss)/income attributable to Qudian
Inc.'s  shareholders


(76,865)


99,787


13,732















(Loss)/Earnings per share for Class A and Class
B ordinary shares:







Basic


(0.34)


0.54


0.07

Diluted


(0.34)


0.53


0.07








(Loss)/Earnings per ADS (1 Class A ordinary
share equals 1 ADSs):







Basic


(0.34)


0.54


0.07

Diluted


(0.34)


0.53


0.07








Weighted average number of Class A and Class B
ordinary shares outstanding:







Basic


223,467,498


184,571,121


184,571,121

Diluted


226,379,819


189,684,527


189,684,527








Other comprehensive income:







Foreign currency translation adjustment


65,401


14,489


1,994








Total comprehensive (loss)/income


(11,464)


114,276


15,726








Total comprehensive (loss)/income
attributable to Qudian Inc.'s shareholders 


(11,464)


114,276


15,726

 

 

QUDIAN INC.

Unaudited Condensed Consolidated Balance Sheets


















As of March 31,


As of June 30,

(In thousands except for number



2024


2024

of shares and per-share data)





(Unaudited)

(Unaudited)




RMB


RMB

US$

ASSETS:







 Current assets:







 Cash and cash equivalents



7,039,968


4,849,019

667,247

 Restricted cash



53,644


51,984

7,153

Time and structured deposit



1,624,612


2,948,606

405,742

 Short-term investments



316,526


1,091,177

150,151

 Accounts receivables



36,149


39,418

5,424

 Other current assets



733,375


615,275

84,664

 Total current assets



9,804,274


9,595,479

1,320,381








 Non-current assets:







 Right-of-use assets



162,276


163,246

22,463

 Investment in equity method investee



149,750


150,691

20,736

 Long-term investments



210,436


210,448

28,959

 Property and equipment, net



1,340,884


1,410,125

194,040

 Intangible assets



2,929


2,764

380

 Other non-current assets



622,008


469,476

64,602

 Total non-current assets



2,488,283


2,406,750

331,180








TOTAL ASSETS



12,292,557


12,002,229

1,651,561















QUDIAN INC.

Unaudited Condensed Consolidated Balance Sheets (Continued)


















As of March 31,


As of June 30,

(In thousands except for number



2024


2024

of shares and per-share data)





(Unaudited)

(Unaudited)




RMB


RMB

US$








LIABILITIES AND SHAREHOLDERS' EQUITY 







 Current liabilities: 







 Short-term lease liabilities



19,884


19,789

2,723

 Derivative instruments-liability



343,743


248,228

34,157

 Accrued expenses and other current liabilities 



327,459


202,856

27,914

 Income tax payable 



97,647


25,947

3,571

 Total current liabilities 



788,733


496,820

68,365








 Non-current liabilities: 





 Long-term lease liabilities



49,688


51,432

7,077

 Total non-current liabilities 



49,688


51,432

7,077

 Total liabilities 



838,421


548,252

75,442















 Shareholders' equity: 







 Class A Ordinary shares 



132


132

18

 Class B Ordinary shares 



44


44

6

 Treasury shares 



(1,082,373)


(1,196,636)

(164,663)

 Additional paid-in capital 



4,031,610


4,031,438

554,744

 Accumulated other comprehensive loss 



(55)


14,434

1,986

 Retained earnings 



8,504,778


8,604,565

1,184,028








 Total shareholders' equity 



11,454,136


11,453,977

1,576,119








TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY 



12,292,557


12,002,229

1,651,561

 

 

QUDIAN INC.

Unaudited Reconciliation of GAAP And Non-GAAP Results




Three months ended June 30,




2023


2024

(In thousands except for number





(Unaudited)


(Unaudited)

of shares and per-share data)



RMB


RMB


US$

















Total net (loss)/income attributable to Qudian Inc.'s shareholders



(76,865)


99,787


13,732

Add: Share-based compensation expenses 



1,335


1


0

Non-GAAP net (loss)/income attributable to Qudian Inc.'s shareholders



(75,530)


99,788


13,732









Non-GAAP net (loss)/income per share—basic



(0.34)


0.54


0.07

Non-GAAP net (loss)/income per share—diluted



(0.34)


0.53


0.07

Weighted average shares outstanding—basic



223,467,498


184,571,121


184,571,121

Weighted average shares outstanding—diluted



226,379,819


189,684,527


189,684,527

 

 

Cision View original content:https://www.prnewswire.com/news-releases/qudian-inc-reports-second-quarter-2024-unaudited-financial-results-302240431.html

SOURCE Qudian Inc.

FAQ

What were Qudian's (QD) Q2 2024 revenue and earnings?

Qudian (QD) reported total revenues of RMB53.3 million (US$7.3 million) and net income of RMB99.8 million (US$13.7 million) for Q2 2024. Earnings per diluted ADS were RMB0.53 (US$0.07).

How did Qudian's (QD) last-mile delivery business perform in Q2 2024?

Qudian's last-mile delivery business, 'Fast Horse', generated RMB46.2 million in revenue in Q2 2024, a significant increase from RMB4.3 million in Q2 2023. The service is now available in Australia and New Zealand.

What is the status of Qudian's (QD) share repurchase program as of September 2024?

As of September 3, 2024, Qudian has repurchased a total of 158.6 million ADSs for approximately US$702.3 million, at an average price of $4.4 per ADS. The company has a new program to purchase up to US$300 million worth of shares over the next 36 months.

How much cash and cash equivalents did Qudian (QD) have as of June 30, 2024?

As of June 30, 2024, Qudian had cash and cash equivalents of RMB4,849.0 million (US$667.2 million) and restricted cash of RMB52.0 million (US$7.2 million).

Qudian Inc. American Depositary Shares, each representing one

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