Welcome to our dedicated page for Qfin Holdings news (Ticker: QFIN), a resource for investors and traders seeking the latest updates and insights on Qfin Holdings stock.
Qfin Holdings reports developments as an AI-empowered Credit-Tech platform in China that connects financial institutions with consumers and SMEs across the loan lifecycle. Company updates commonly cover unaudited quarterly and annual financial results, loan facilitation and origination activity, capital-light services, Intelligence Credit Engine offerings, total technology solutions, embedded finance channels and funding activity such as asset-backed securities.
Recurring news also includes semi-annual dividend actions, annual report releases for U.S. and Hong Kong reporting, ESG reporting, annual general meeting results and governance changes. Updates frequently discuss credit risk, delinquency and collection trends, risk-standard adjustments, regulatory developments and liquidity conditions affecting consumer finance in China.
Qifu Technology (NASDAQ: QFIN), a leading Credit-Tech platform in China, announced its unaudited financial results for Q2 2024, board changes, and a raised semi-annual dividend.
Business Highlights: The platform connected 247.6M consumers with credit needs (+12.2% YoY) and 160 financial institutional partners. Loan volume reached RMB95.4B (-23.2% YoY). Capital-light model loans accounted for 64.9% of total volume.
Financial Highlights: Total net revenue was RMB4.16B (+6.3% YoY) with a net income of RMB1.38B (+25.9% YoY). Non-GAAP income from operations was RMB2.02B with a 48.6% margin. Net income per ADS was RMB8.92.
Board Changes: Hongyi Zhou resigned as chairman. Fan Zhao appointed as the new chairman, and Xiangge Liu joined as an independent director.
Future Outlook: The company plans to continue disciplined risk management and optimize user acquisition strategies.
Qifu Technology (NASDAQ: QFIN; HKEx: 3660), a leading Credit-Tech platform in China, has announced it will report its unaudited financial results for the second quarter ended June 30, 2024, after U.S. markets close on August 13, 2024. The company's management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on the same day (8:30 AM Beijing Time on August 14, 2024).
Participants must pre-register online to join the conference call. Upon registration, they will receive dial-in numbers and a unique access PIN. A live and archived webcast of the call will be available on the Investor Relations section of Qifu Technology's website at ir.qifu.tech.
On June 27, 2024, Qifu Technology announced the results of its annual general meeting. Shareholders approved the re-appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as the company's auditor. This appointment will last until the next annual general meeting, with the Board authorized to determine the auditor's remuneration for the fiscal year ending December 31, 2024.
Qifu Technology announced its unaudited financial results for Q1 2024. As of March 31, 2024, the company connected 159 financial partners and 241.4 million consumers, up 12.5% YoY. Cumulative borrowers increased to 31.2 million, up 12.6% YoY. Loan volume decreased by 9.3% to RMB99,237 million. Revenue rose to RMB4,153.2 million, a 15.4% increase. Net income grew to RMB1,160.1 million, up from RMB929.8 million last year. Operating margin improved to 32.8%, and net income per ADS increased to RMB7.30. The company launched a new share repurchase plan worth US$350 million. Despite economic headwinds, Qifu expects Q2 2024 net income between RMB1.17 billion and RMB1.23 billion.
Qifu Technology, Inc. will hold its annual general meeting on June 27, 2024, to re-appoint Deloitte Touche Tohmatsu Certified Public Accountants LLP as the auditor and fix their remuneration. Shareholders are required to vote based on the record date on May 24, 2024, with detailed instructions provided for both Class A Ordinary Shares and American Depositary Shares (ADSs).
Qifu Technology, Inc. will release its unaudited financial results for the first quarter of 2024 on May 20, 2024. The company, a prominent Credit-Tech platform in China, will host an earnings conference call on the same day. Interested participants must preregister online to join the call.
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