QD holder plans sale of 1,650,000 ADS worth $8.0M under Rule 144

An affiliate of the issuer has filed a notice of proposed sale of restricted securities under Rule 144.

Rhea-AI Filing Summary

An affiliate of the issuer has filed a notice of proposed sale of restricted securities under Rule 144.

The planned transaction covers up to 1,650,000 American Depositary Shares, each representing one Class A ordinary share, to be sold through China International Capital Corporation Hong Kong Securities Limited on the NYSE. The filing reports an aggregate market value of $8,035,500.00 for these shares and notes that 165,126,492 shares of the same class were outstanding at the time referenced. The shares being sold were originally acquired as an investment from the issuer, with cash payment completed on 09/14/2018.

FAQ

What does this Form 144 filing for QD represent?

This Form 144 gives notice that a holder intends to sell up to 1,650,000 American Depositary Shares, each representing one Class A ordinary share of the issuer, in compliance with Rule 144.

How many QD shares are covered by this planned Rule 144 sale?

The notice covers up to 1,650,000 American Depositary Shares, as disclosed in the securities information section.

What is the aggregate market value of the QD shares in this Form 144?

The filing reports an aggregate market value of $8,035,500.00 for the 1,650,000 American Depositary Shares proposed to be sold.

On which exchange are the QD American Depositary Shares expected to be sold?

The American Depositary Shares referenced in the Form 144 are planned to be sold on the NYSE.

How many QD shares of this class were outstanding when the Form 144 was prepared?

The filing states that 165,126,492 shares of the same class of securities were outstanding at the time referenced.

When were the QD shares in this Form 144 originally acquired and how were they paid for?

The underlying Class A ordinary shares were acquired on 12/09/2016 as an investment from the issuer, with cash payment dated 09/14/2018.

What is the approximate date of sale in this QD Form 144 notice?

The filing lists an approximate date of sale of 12/08/2025 for the proposed transaction.

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Accepted by SEC EDGAR 12/05/2025 - 03:54 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001809939
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Qudian Inc.
SEC File Number	001-38230
Address of Issuer	Building 1, Qudian Innovation Park, Meilin Street, Xiamen, Fujian Province, CHINA 361000
Phone	86-592-596-8202
Name of Person for Whose Account the Securities are To Be Sold	Guosheng (Hong Kong) Investment Limited
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Other - Filer appointed one director of the Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
American Depositary Shares, each representing one Class A ordinary shares	China International Capital Corporation Hong Kong Securities Limited 29/F, One International Finance Centre 1 Harbour View Street Hong Kong K3 0000	1650000	8035500.00	165126492	12/08/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A ordinary shares	12/09/2016	Investment	Issuer			1650000	09/14/2018	cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks	* Director of Issuer appointed by Filer resigned on September 24, 2025. ** As of December 4, 2025. *** As of March 31, 2025, the Issuer has 165,126,492 ordinary shares outstanding on an as converted basis, comprising 101,635,320 Class A ordinary shares and 63,491,172 Class B ordinary shares, excluding (i) ordinary shares represented by the ADSs repurchased by the Company, (ii) ordinary shares issuable upon the exercise of outstanding share options and (iii) ordinary shares reserved for future issuance under our share incentive plans, as reported in the Form 20-F filed by the Issuer on April 23, 2025.
Date of Notice	12/05/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Gongyin Liu
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)