Qudian Inc. Reports Third Quarter 2025 Unaudited Financial Results
Rhea-AI Summary
Qudian (NYSE: QD) reported third quarter 2025 unaudited results for the period ended September 30, 2025. Total revenue fell to RMB8.5 million (US$1.2 million), down 84.5% year-over-year due to winding down of its last-mile delivery business.
Net income attributable to shareholders was RMB409.9 million (US$57.6 million), or RMB2.47 per diluted ADS, supported by an 84.5% increase in interest and investment income and a RMB73.9 million gain on derivative instruments.
The company held RMB7,010.6 million (US$948.8 million) in cash and RMB1,518.7 million restricted cash as of September 30, 2025, and disclosed cumulative ADS repurchases totaling approximately US$765.3 million for 180.6 million ADSs as of November 18, 2025.
Positive
- Net income attributable to shareholders of RMB409.9 million
- Interest and investment income increased by 84.5%
- Gain on derivative instruments of RMB73.9 million
- Cash and cash equivalents of RMB7,010.6 million
- Repurchased ADSs totaling approximately US$765.3 million
Negative
- Total revenue declined 84.5% to RMB8.5 million
- Loss from operations of RMB110.6 million
- Cost of revenues decreased 86.6% due to business wind-down
- General and administrative expenses increased 41.1%
News Market Reaction
On the day this news was published, QD gained 10.30%, reflecting a significant positive market reaction. Argus tracked a peak move of +5.7% during that session. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $75M to the company's valuation, bringing the market cap to $803M at that time.
Data tracked by StockTitan Argus on the day of publication.
Third Quarter 2025 Financial Highlights:
- Total revenues were
RMB8.5 million (US ), compared to$1.2 million RMB55.0 million for the same period of last year - Net income attributable to Qudian's shareholders was
RMB409.9 million (US ), compared to$57.6 million RMB131.9 million for the same period of last year; net income per diluted ADS wasRMB2.47 (US ) for the third quarter of 2025$0.35
We continued to execute our business transition, with the winding down of our last-mile delivery business to its final stage while maintaining a healthy balance sheet by pursuing efficient cash management. Moving forward, we remain focused on navigating market dynamics and capitalizing on new business in order to build long-term value for our shareholders.
Third Quarter Financial Results
Sales income and others decreased by
Total operating costs and expenses decreased by
Cost of revenues decreased by
General and administrative expenses increased by
Research and development expenses decreased by
Loss from operations was
Interest and investment income, net increased by
Gain on derivative instrument increased by
Net income attributable to Qudian's shareholders was
Cash Flow
As of September 30, 2025, the Company had cash and cash equivalents of
For the third quarter of 2025, net cash provided by operating activities was
Update on Share Repurchase
Our Board approved a share repurchase program in March 2024 to purchase up to
As of November 18, 2025, the Company had in aggregate purchased 180.6 million ADSs for a total amount of approximately
About Qudian Inc.
Qudian Inc. ("Qudian") is a consumer-oriented technology company. Qudian is exploring innovative business opportunities to satisfy consumers' demand by leveraging its technology capabilities.
For more information, please visit http://ir.qudian.com.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
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
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com
QUDIAN INC. | ||||||
Unaudited Condensed Consolidated Statements of Operations | ||||||
Three months ended September 30, | ||||||
(In thousands except for number | 2024 | 2025 | ||||
of shares and per-share data) | (Unaudited) | (Unaudited) | ||||
RMB | RMB | US$ | ||||
Revenues: | ||||||
Sales income and others | 55,015 | 8,523 | 1,197 | |||
Total revenues | 55,015 | 8,523 | 1,197 | |||
Operating cost and expenses: | ||||||
Cost of revenues | (48,913) | (6,549) | (920) | |||
Sales and marketing | (2,123) | (5,689) | (799) | |||
General and administrative | (58,580) | (82,672) | (11,613) | |||
Research and development | (14,576) | (11,102) | (1,559) | |||
Reversal of/(Provision for) expected credit losses on | 2,798 | (180) | (25) | |||
Impairment loss from other assets | (604) | (12,949) | (1,819) | |||
Total operating cost and expenses | (121,998) | (119,141) | (16,735) | |||
Loss from operations | (66,983) | (110,618) | (15,538) | |||
Interest and investment income, net | 228,420 | 421,344 | 59,186 | |||
Loss from equity method investments | (1,390) | (102) | (14) | |||
Gain on derivative instruments | 30,246 | 73,921 | 10,384 | |||
Foreign exchange loss, net | (7,898) | (5,216) | (733) | |||
Other income | 2,030 | 19,131 | 2,687 | |||
Other expenses | (13,809) | (228) | (32) | |||
Net income before income taxes | 170,616 | 398,232 | 55,940 | |||
Income tax expenses | (38,702) | 11,671 | 1,639 | |||
Net income | 131,914 | 409,903 | 57,579 | |||
Net income attributable to Qudian Inc.'s | 131,914 | 409,903 | 57,579 | |||
Earning per share for Class A and Class B ordinary | ||||||
Basic | 0.73 | 2.55 | 0.36 | |||
Diluted | 0.71 | 2.47 | 0.35 | |||
Earning per ADS (1 Class A ordinary share equals | ||||||
Basic | 0.73 | 2.55 | 0.36 | |||
Diluted | 0.71 | 2.47 | 0.35 | |||
Weighted average number of Class A and Class B | ||||||
Basic | 180,111,125 | 160,998,923 | 160,998,923 | |||
Diluted | 185,092,607 | 165,790,336 | 165,790,336 | |||
Other comprehensive loss: | ||||||
Foreign currency translation adjustment | (60,991) | (18,697) | (2,626) | |||
Total comprehensive income | 70,923 | 391,206 | 54,953 | |||
Total comprehensive income attributable to | 70,923 | 391,206 | 54,953 | |||
QUDIAN INC. | ||||||
Unaudited Condensed Consolidated Balance Sheets | ||||||
As of June 30, | As of September 30, | |||||
(In thousands except for number | 2025 | 2025 | ||||
of shares and per-share data) | (Unaudited) | (Unaudited) | ||||
RMB | RMB | US$ | ||||
ASSETS: | ||||||
Current assets: | ||||||
Cash and cash equivalents | 4,028,995 | 7,010,642 | 984,779 | |||
Restricted cash and cash equivalents | 782,251 | 1,518,707 | 213,331 | |||
Time and structured deposit | 1,758,770 | 1,439,721 | 202,236 | |||
Derivative instruments-asset | 38,793 | 3,792 | 533 | |||
Short-term investments | 2,850,688 | 1,366,240 | 191,915 | |||
Accounts receivables | 9,225 | 6,479 | 910 | |||
Other current assets | 925,915 | 290,235 | 40,769 | |||
Total current assets | 10,394,637 | 11,635,816 | 1,634,473 | |||
Non-current assets: | ||||||
Right-of-use assets | 101,715 | 98,743 | 13,870 | |||
Investment in equity method investee | 144,822 | 144,622 | 20,315 | |||
Long-term investments | 78,616 | 78,658 | 11,049 | |||
Property and equipment, net | 1,747,669 | 1,728,971 | 242,867 | |||
Intangible assets | 1,922 | 1,779 | 250 | |||
Other non-current assets | 280,115 | 263,647 | 37,034 | |||
Total non-current assets | 2,354,859 | 2,316,420 | 325,385 | |||
TOTAL ASSETS | 12,749,496 | 13,952,236 | 1,959,858 | |||
QUDIAN INC. | ||||||
Unaudited Condensed Consolidated Balance Sheets (Continued) | ||||||
As of June 30, | As of September 30, | |||||
(In thousands except for number | 2025 | 2025 | ||||
of shares and per-share data) | (Unaudited) | (Unaudited) | ||||
RMB | RMB | US$ | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Short-term borrowings | 720,000 | 1,576,000 | 221,379 | |||
Short-term lease liabilities | 7,352 | 6,733 | 946 | |||
Accrued expenses and other current liabilities | 371,442 | 360,732 | 50,672 | |||
Income tax payable | 39,383 | 53,164 | 7,468 | |||
Total current liabilities | 1,138,177 | 1,996,629 | 280,465 | |||
Non-current liabilities: | ||||||
Deferred tax liabilities | 27,427 | - | - | |||
Long-term lease liabilities | 5,126 | 3,870 | 544 | |||
Total non-current liabilities | 32,553 | 3,870 | 544 | |||
Total liabilities | 1,170,730 | 2,000,499 | 281,009 | |||
Shareholders' equity: | ||||||
Class A Ordinary shares | 132 | 132 | 18 | |||
Class B Ordinary shares | 44 | 44 | 6 | |||
Treasury shares | (1,571,141) | (1,588,823) | (223,181) | |||
Additional paid-in capital | 4,025,209 | 4,024,656 | 565,340 | |||
Accumulated other comprehensive profit/(loss) | (7,464) | (26,161) | (3,675) | |||
Retained earnings | 9,131,986 | 9,541,889 | 1,340,341 | |||
Total equity | 11,578,766 | 11,951,737 | 1,678,849 | |||
TOTAL LIABILITIES AND SHAREHOLDERS' | 12,749,496 | 13,952,236 | 1,959,858 | |||
View original content:https://www.prnewswire.com/news-releases/qudian-inc-reports-third-quarter-2025-unaudited-financial-results-302624340.html
SOURCE Qudian Inc.
FAQ
Why did QD revenue fall 84.5% in Q3 2025?
What drove QD's net income of RMB409.9 million in Q3 2025?
How much cash did Qudian report as of September 30, 2025 (QD)?
How many ADSs has Qudian repurchased under its buyback program (QD)?
What was Qudian's loss from operations in Q3 2025 and why (QD)?
Did Qudian generate positive operating cash flow in Q3 2025 (QD)?
