Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology”
or the “Company”), a leading Credit-Tech platform in China, today
announced its unaudited financial results for the fourth quarter
and full year ended December 31, 2023, declared semi-annual
dividend and announced a new share repurchase plan.
Fourth Quarter 2023 Business
Highlights
- As of December 31, 2023, our
platform has connected 157 financial institutional partners and
235.4 million consumers*5 with potential credit needs,
cumulatively, an increase of 12.8% from 208.7 million a year
ago.
- Cumulative users with approved
credit lines*6 were 50.9 million as of December 31, 2023, an
increase of 14.4% from 44.5 million as of December 31, 2022.
- Cumulative borrowers with
successful drawdown, including repeat borrowers was 30.4 million as
of December 31, 2023, an increase of 12.7% from 27.0 million as of
December 31, 2022.
- In the fourth quarter of 2023,
financial institutional partners originated 19,458,549 loans*7
through our platform. Total facilitation and origination loan
volume reached RMB119,002 million, an increase of 13.8% from
RMB104,572 million in the same period of 2022.
- Out of those loans originated by
financial institutions, RMB68,239 million was under capital-light
model, Intelligence Credit Engine (“ICE”) and other technology
solutions*8, representing 57.3% of the total, an increase of 16.8%
from RMB58,438 million in the same period of 2022.
- Total outstanding loan balance*9
was RMB186,478 million as of December 31, 2023, an increase of
14.1% from RMB163,465 million as of December 31, 2022.
- RMB114,476 million of such loan
balance was under capital-light model, “ICE” and other technology
solutions*10, an increase of 18.6% from RMB96,558 million as of
December 31, 2022.
- The weighted average contractual
tenor of loans originated by financial institutions across our
platform in the fourth quarter of 2023 was approximately 11.47
months, compared with 11.38 months in the same period of 2022.
- 90 day+ delinquency rate*11 of
loans originated by financial institutions across our platform was
2.35% as of December 31, 2023.
- Repeat borrower contribution*12 of
loans originated by financial institutions across our platform for
the fourth quarter of 2023 was 90.8%.
1 Refers to the total principal amount of loans
facilitated and originated during the given period, including loan
volume facilitated through Intelligence Credit Engine (“ICE”) and
other technology solutions.2 Non-GAAP income from operations,
Non-GAAP net income, Non-GAAP operating margin and Non-GAAP net
income margin are Non-GAAP financial measures. For more information
on these Non-GAAP financial measures, please see the section of
“Use of Non-GAAP Financial Measures Statement” and the table
captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results"
set forth at the end of this press release.3 Includes the value of
actual dividend distribution for the first half of 2023 and the
value of estimated dividend distribution for the second half of
2023 based on US$0.29 per Class A ordinary share, or US$0.58 per
ADS to holders of record of Class A ordinary shares and ADSs as of
the close of business on April 15, 2024.4 “Aggregate value of ADSs
repurchased” refers to the aggregate value of ADSs repurchased in
the open market since the launch of the share repurchase plan on
June 20, 2023 to March 12, 2024.5 Refers to cumulative registered
users across our platform.6 “Users with approved credit lines”
refers to the total number of users who had submitted their credit
applications and were approved with a credit line at the end of
each period.7 Including 4,667,384 loans across “V-pocket”, and
14,791,165 loans across other products.8 “ICE” is an open platform
on our “360 Jietiao” APP, we match borrowers and financial
institutions through big data and cloud computing technology on
“ICE”, and provide pre-loan investigation report of borrowers. For
loans facilitated through “ICE”, the Company does not bear
principal risk. Loan facilitation volume through “ICE” was
RMB16,610 million in the fourth quarter of 2023.Under other
technology solutions, we offer financial institutions on-premise
deployed, modular risk management SaaS, which helps financial
institution partners improve credit assessment results. Loan
facilitation volume through other technology solutions was RMB
29,705 million in the fourth quarter of 2023.9 “Total outstanding
loan balance” refers to the total amount of principal outstanding
for loans facilitated and originated at the end of each period,
including loan balance for “ICE” and other technology solutions,
excluding loans delinquent for more than 180 days.10 Outstanding
loan balance for “ICE” and other technology solutions were
RMB20,810 million and RMB41,527 million, respectively, as of
December 31, 2023.11 “90 day+ delinquency rate” refers to the
outstanding principal balance of on- and off-balance sheet loans
that were 91 to 180 calendar days past due as a percentage of the
total outstanding principal balance of on- and off-balance sheet
loans across our platform as of a specific date. Loans that are
charged-off and loans under “ICE” and other technology solutions
are not included in the delinquency rate calculation.12 “Repeat
borrower contribution” for a given period refers to (i) the
principal amount of loans borrowed during that period by borrowers
who had historically made at least one successful drawdown, divided
by (ii) the total loan facilitation and origination volume through
our platform during that period.
Fourth Quarter 2023 Financial
Highlights
- Total net revenue was RMB4,495.5
million (US$633.2 million), compared to RMB3,906.6 million in the
same period of 2022.
- Income from operations was
RMB1,279.6 million (US$180.2 million), compared to RMB943.9 million
in the same period of 2022.
- Non-GAAP income from operations was
RMB1,322.1 million (US$186.2 million), compared to RMB995.2 million
in the same period of 2022.
- Operating margin was 28.5%.
Non-GAAP operating margin was 29.4%.
- Net income was RMB1,107.7 million
(US$156.0 million), compared to RMB867.9 million in the same period
of 2022.
- Non-GAAP net income was RMB1,150.3
million (US$162.0 million), compared to RMB919.3 million in the
same period of 2022.
- Net income attributed to the
Company was RMB1,111.7 million (US$156.6 million), compared to
RMB872.0 million in the same period of 2022.
- Net income margin was 24.6%.
Non-GAAP net income margin was 25.6%.
Full Year 2023 Operational
Highlights
- Total loan facilitation and
origination volume in 2023 was RMB475,831 million, representing an
increase of 15.4% from RMB412,361 million in 2022. Loan
facilitation volume under Platform Services was RMB271,020 million,
an increase of 17.3% from RMB231,131 million in 2022.
- The weighted average contractual
tenor of loans facilitated and originated was 11.21 months in full
year 2023, compared with 11.69 months in 2022.
- Repeat borrower contribution was
91.6% in full year 2023, compared with 88.7% in 2022.
Full Year 2023 Financial
Highlights
- Total net revenue was RMB16,290.0
million (US$2,294.4 million), compared to RMB16,553.9 million in
2022.
- Income from operations was
RMB4,857.0 million (US$684.1 million), compared to RMB4,472.2
million in 2022.
- Non-GAAP income from operations was
RMB5,042.6 million (US$710.2 million), compared to RMB4,671.9
million in 2022.
- Operating margin was 29.8%.
Non-GAAP operating margin was 31.0%.
- Net income was RMB4,268.6 million
(US$601.2 million), compared to RMB4,005.6 million in 2022.
- Net income margin was 26.2%.
Non-GAAP net income margin was 27.3%.
- Non-GAAP net income was RMB4,454.2
million (US$627.4 million), compared to RMB4,205.3 million in
2022.
- Net income attributed to the
Company was RMB4,285.3 million (US$603.6 million), compared to
RMB4,024.2 million in 2022.
Mr. Haisheng Wu, Chief Executive Officer and
Director of Qifu Technology, commented, “Although 2023 was a
challenging year as macro-economic headwind persists, we have made
timely adjustment to our operations throughout the year and focused
our effort on improving the quality and profitability of our
business, which resulted in meaningful improvement in overall take
rates. With consistent execution, we not only achieved our full
year operational and financial targets for 2023, but also built a
solid foundation for high quality development in 2024.
For 2023, total loan facilitation and
origination volume was RMB475.8 billion, up approximately 15.4%
year-on-year. Approximately 57% of the volume was facilitated under
the capital-light model, ICE and other technology solutions. The
strong contribution from non-credit risk bearing services helped us
mitigate some risks in a challenging environment. We also achieved
better overall return on our loan portfolio through improved
efficiency in asset allocation. In 2023, we further diversified our
user acquisition channels and built strong embedded finance
partnership with leading internet platforms with high user traffic,
which enabled us to extend our market reach to target users with
reduced user acquisition costs. Meanwhile, we continued to solidify
our relationship with financial institution partners. With the help
of record-breaking ABS issuance, we significantly lowered overall
funding costs to historic low.
We will continue to take a prudent approach in
our business planning in 2024. In particular, we intend to focus on
driving profitability and efficiency of our operations as we
continue to tighten our risk management standard and optimize our
business mix to achieve quality growth. We believe such effort will
enable us to better navigate through the current environment and
position us well to capture long-term opportunities through new
partnerships, enhanced products and collaborative models.”
“We are pleased to report another quarter of
strong financial results in an uncertain macro environment. Total
net revenue was RMB4.50 billion and Non-GAAP net income was RMB1.15
billion for the fourth quarter, which brought full year Non-GAAP
net income to RMB4.45 billion,” Mr. Alex Xu, Chief Financial
Officer, commented. “During the quarter, we generated approximately
RMB2.35 billion cash from operations, a record high. Our strong
financial positions not only allow us to consistently execute our
strategy but also enable us to further enhance returns to our
shareholders by launching a new significantly enlarged share
repurchase plan for 2024, further demonstrating management’s
confidence and commitment to our business.”
Mr. Yan Zheng, Chief Risk Officer, added, “The
fourth quarter was a challenging period for risk management as
economic difficulties impacted some borrowers’ capability to repay
loans and an industry-wide technical issue reduced the
effectiveness of our collection operations. Among key leading
indicators, Day-1 delinquency rate*13 was 5.0% in the fourth
quarter, and 30-day collection rate*14 was 84.9%. We took further
actions to mitigate the risks by reducing exposures to higher risk
and longer duration loans and by driving more non-credit risk
bearing services. Such actions started to show positive impact to
risk metrics so far in 2024 and we expect to see further gradual
improvement throughout this year.”
13 “Day-1 delinquency rate” is defined as (i)
the total amount of principal that became overdue as of a specified
date, divided by (ii) the total amount of principal that was due
for repayment as of such specified date.14 “30 day collection rate”
is defined as (i) the amount of principal that was repaid in one
month among the total amount of principal that became overdue as of
a specified date, divided by (ii) the total amount of principal
that became overdue as of such specified date.
Fourth Quarter 2023 Financial
Results
Total net revenue was
RMB4,495.5 million (US$633.2 million), compared to RMB3,906.6
million in the same period of 2022, and RMB4,281.0 million in the
prior quarter.
Net revenue from Credit Driven
Services was RMB3,248.3 million (US$457.5 million),
compared to RMB2,776.7 million in the same period of 2022, and
RMB3,071.0 million in the prior quarter.
Loan facilitation and servicing fees-capital
heavy were RMB481.2 million (US$67.8 million), compared to RMB361.8
million in the same period of 2022 and RMB479.2 million in the
prior quarter. The year-over-year increase was primarily due to
longer effective tenor of the loans and enhanced product
offerings.
Financing income*15 was RMB1,485.4 million
(US$209.2 million), compared to RMB1,002.1 million in the same
period of 2022 and RMB1,369.9 million in the prior quarter. The
year-over-year and sequential increases were primarily due to the
growth in average outstanding balance of the on-balance-sheet
loans.
Revenue from releasing of guarantee liabilities
was RMB1,211.8 million (US$170.7 million), compared to RMB1,377.0
million in the same period of 2022, and RMB1,165.7 million in the
prior quarter. The year-over-year decrease was mainly due to the
decrease in average outstanding balance of off-balance-sheet
capital-heavy loans during the period.
Other services fees were RMB69.8 million (US$9.8
million), compared to RMB35.8 million in the same period of 2022,
and RMB56.1 million in the prior quarter. The year-over-year and
sequential increases reflected the increases in late payment fees
under the capital-heavy model.
Net revenue from Platform
Services was RMB1,247.2 million (US$175.7 million),
compared to RMB1,129.8 million in the same period of 2022 and
RMB1,210.1 million in the prior quarter.
Loan facilitation and servicing fees-capital
light were RMB697.0 million (US$98.2 million), compared to RMB955.6
million in the same period of 2022 and RMB863.9 million in the
prior quarter. The year-over-year and sequential decreases were
primarily due to the decreases in capital-light loan facilitation
volume.
Referral services fees were RMB446.5 million
(US$62.9 million), compared to RMB93.3 million in the same period
of 2022 and RMB234.2 million in the prior quarter. The
year-over-year and sequential increases were mainly due to the
increases in loan facilitation volume through ICE.
Other services fees were RMB103.8 million
(US$14.6 million), compared to RMB80.9 million in the same period
of 2022 and RMB112.0 million in the prior quarter. The
year-over-year increase was mainly due to enhanced product
offering.
Total operating costs and
expenses were RMB3,215.9 million (US$453.0 million),
compared to RMB2,962.7 million in the same period of 2022 and
RMB2,892.2 million in the prior quarter.
Facilitation, origination and servicing expenses
were RMB731.8 million (US$103.1 million), compared to RMB585.6
million in the same period of 2022 and RMB639.8 million in the
prior quarter. The year-over-year and sequential increases were
primarily due to higher credit search fees and collection fees.
Funding costs were RMB161.0 million (US$22.7
million), compared to RMB138.3 million in the same period of 2022
and RMB160.2 million in the prior quarter. The year-over-year
increase was mainly due to the growth in funding from ABSs, as a
result of the continued growth in on-balance-sheet loan balance,
partially offset by the lower average cost of ABSs.
Sales and marketing expenses were RMB551.6
million (US$77.7 million), compared to RMB415.2 million in the same
period of 2022 and RMB529.6 million in the prior quarter. The
year-over-year increase was primarily due to an increase in the
marketing spending to acquire new users. The sequential increase
was mainly due to a slight increase in unit customer acquisition
cost in the fourth quarter.
General and administrative expenses were
RMB108.0 million (US$15.2 million), compared to RMB93.9 million in
the same period of 2022 and RMB95.4 million in the prior quarter.
The year-over-year and sequential increases were mainly due to
higher professional service fees.
Provision for loans receivable was RMB639.9
million (US$90.1 million), compared to RMB481.4 million in the same
period of 2022 and RMB509.0 million in the prior quarter. The
year-over-year increase was mainly due to the growth in loan
origination volume of on-balance-sheet loans. The sequential
increase reflected the Company’s consistent approach in assessing
provisions commensurate with its underlying loan profile.
Provision for financial assets receivable was
RMB148.2 million (US$20.9 million), compared to RMB118.6 million in
the same period of 2022 and RMB86.9 million in the prior quarter.
The year-over-year and sequential increases reflected the Company’s
consistent approach in assessing provisions commensurate with its
underlying loan profile.
Provision for accounts receivable and contract
assets was RMB91.1 million (US$12.8 million), compared to RMB67.3
million in the same period of 2022 and RMB39.7 million in the prior
quarter. The year-over-year and sequential changes reflected the
Company’s consistent approach in assessing provisions commensurate
with its underlying loan profile.
Provision for contingent liability was RMB784.3
million (US$110.5 million), compared to RMB1,062.3 million in the
same period of 2022 and RMB831.6 million in the prior quarter. The
year-over-year decrease reflected the Company’s consistent approach
in assessing provisions commensurate with its underlying loan
profile and higher provision reversal compared to a year ago. In
addition, the sequential decline was partially due to a decrease in
capital-heavy loan facilitation volume.
Income from operations was
RMB1,279.6 million (US$180.2 million), compared to RMB943.9 million
in the same period of 2022 and RMB1,388.9 million in the prior
quarter.
Non-GAAP income from operations
was RMB1,322.1 million (US$186.2 million), compared to RMB995.2
million in the same period of 2022 and RMB1,432.2 million in the
prior quarter.
Operating margin was 28.5%.
Non-GAAP operating margin was 29.4%.
Income before income tax
expense was RMB1,330.9 million (US$187.5 million),
compared to RMB1,024.8 million in the same period of 2022 and
RMB1,478.1 million in the prior quarter.
Net income was RMB1,107.7
million (US$156.0 million), compared to RMB867.9 million in the
same period of 2022 and RMB1,137.7 million in the prior
quarter.
Non-GAAP net income was
RMB1,150.3 million (US$162.0 million), compared to RMB919.3 million
in the same period of 2022 and RMB1,181.0 million in the prior
quarter.
Net income margin was 24.6%.
Non-GAAP net income margin was 25.6%.
Net income attributed to the
Company was RMB1,111.7 million (US$156.6 million),
compared to RMB872.0 million in the same period of 2022 and
RMB1,142.0 million in the prior quarter.
Non-GAAP net income
attributed to the Company was RMB1,154.3 million
(US$162.6 million), compared to RMB923.4 million in the same period
of 2022 and RMB1,185.3 million in the prior quarter.
Net income per fully diluted
ADS was RMB6.88 (US$0.96).
Non-GAAP net income per fully diluted
ADS was RMB7.14 (US$1.01).
Weighted average basic ADS used in
calculating GAAP and Non-GAAP net income per ADS was
158.16 million.
Weighted average diluted ADS used in
calculating GAAP and Non-GAAP net income per ADS was
161.65 million.
15 “Financing income” is generated from loans
facilitated through the Company’s platform funded by the
consolidated trusts and Fuzhou Microcredit, which charge fees and
interests from borrowers.
Full Year 2023 Financial
Results
Total net revenue was
RMB16,290.0 million (US$2,294.4 million), compared to RMB16,553.9
million in 2022.
Net revenue from Credit Driven
Services was RMB11,738.6 million (US$1,653.3 million),
compared to RMB11,586.3 million in 2022.
Loan facilitation and servicing fees-capital
heavy were RMB1,667.1 million (US$234.8 million), compared to
RMB2,086.4 million in 2022. The year-over-year decrease was
primarily due to a decline in capital-heavy loan facilitation
volume and shorter effective loan tenor.
Financing income was RMB5,109.9 million
(US$719.7 million), compared to RMB3,488.0 million in 2022. The
year-over-year increase was primarily due to the growth in average
outstanding balance of on-balance-sheet loans.
Revenue from releasing of guarantee liabilities
was RMB4,745.9 million (US$668.4 million), compared to RMB5,899.2
million in 2022. The year-over-year decrease was mainly due to
decrease in average outstanding balance of off-balance-sheet
capital-heavy loans during the period.
Other services fees were RMB215.6 million
(US$30.4 million), compared to RMB112.7 million in 2022. The
year-over-year increase was mainly due to an increase in late
payment fees under the capital-heavy model.
Net revenue from Platform
Services was RMB4,551.5 million (US$641.1 million),
compared to RMB4,967.7 million in 2022.
Loan facilitation and servicing fees-capital
light were RMB3,214.0 million (US$452.7 million), compared to
RMB4,124.7 million in 2022. The year-over-year decrease was
primarily due to a decline in loan facilitation volume under the
capital-light model and shorter effective loan tenor.
Referral services fees were RMB950.0 million
(US$133.8 million), compared to RMB561.4 million in 2022. The
year-over-year increase was primarily due to an increase in the
loan facilitation volume through ICE.
Other services fees were RMB387.5 million
(US$54.6 million), compared to RMB281.6 million in 2022. The
year-over-year increase was mainly due to an increase in late
payment fees and enhanced product offering.
Total operating costs and
expenses were RMB11,433.1 million (US$1,610.3 million),
compared to RMB12,081.7 million in 2022.
Facilitation, origination and servicing expenses
were RMB2,659.9 million (US$374.6 million), compared to RMB2,373.5
million in 2022. The year-over-year increase was primarily due to
higher credit search fees and collection fees.
Funding costs were RMB645.4 million (US$90.9
million), compared to RMB504.4 million in 2022. The year-over-year
increase was mainly due to the growth in funding from ABSs, as a
result of the continued growth in on-balance-sheet loan balance,
partially offset by the lower average cost of ABSs.
Sales and marketing expenses were RMB1,939.9
million (US$273.2 million), compared to RMB2,206.9 million in 2022.
The year-over-year decrease was mainly due to the improvement in
marketing efficiency.
General and administrative expenses were
RMB421.1 million (US$59.3 million), compared to RMB412.8 million in
2022. The year-over-year change was mainly due to the change in
professional service fees.
Provision for loans receivable was RMB2,151.0
million (US$303.0 million), compared to RMB1,580.3 million in 2022.
The year-over-year increase was mainly due to the growth in loan
origination volume of on-balance-sheet loans.
Provision for financial assets receivable was
RMB386.1 million (US$54.4 million), compared to RMB398.0 million in
2022. The year-over-year decrease reflected the Company’s
consistent approach in assessing provisions commensurate with its
underlying loan profile and a decline in capital-heavy loan
facilitation volume.
Provision for accounts receivable and contract
assets was RMB175.8 million (US$24.8 million), compared to RMB238.1
million in 2022. The year-over-year decrease reflected the
Company’s consistent approach in assessing provisions commensurate
with its underlying loan profile and decreases in capital-heavy and
capital-light loan facilitation volume.
Provision for contingent liability was
RMB3,053.8 million (US$430.1 million), compared to RMB4,367.8
million in 2022. The year-over-year decrease reflected the
Company’s consistent approach in assessing provisions commensurate
with its underlying loan profile as well as a decline in
capital-heavy loan facilitation volume.
Income from operations was
RMB4,857.0 million (US$684.1 million), compared to RMB4,472.2
million in 2022.
Non-GAAP income from operations
was RMB5,042.6 million (US$710.2 million), compared to RMB4,671.9
million in 2022.
Operating margin was 29.8%.
Non-GAAP operating margin was 31.0%.
Income before income tax
expense was RMB5,277.5 million (US$743.3 million),
compared to RMB4,742.4 million in 2022.
Income taxes expense was
RMB1,008.9 million (US$142.1 million). Effective tax rate was
18.5%, compared to 14.9% in 2022. The increase in effective tax
rate was mainly due to withholding taxes related to the Company’s
dividend and share repurchase plan.
Net income attributed to the
Company was RMB4,285.3 million (US$603.6 million),
compared to RMB4,024.2 million in 2022.
Non-GAAP net income
attributed to the Company was RMB4,470.9 million
(US$629.7 million), compared to RMB4,223.9 million in 2022.
Net income margin was 26.2%.
Non-GAAP net income margin was 27.3%.
Net income per fully diluted
ADS was RMB26.08 (US$3.68).
Non-GAAP net income per fully diluted
ADS was RMB27.22 (US$3.83).
Weighted average basic ADS used in
calculating GAAP and Non-GAAP net income per ADS was
160.37 million.
Weighted average diluted ADS used in
calculating GAAP and Non-GAAP net income per ADS was
164.25 million.
30 Day+ Delinquency Rate by Vintage and
180 Day+ Delinquency Rate by Vintage
The following charts and tables display the
historical cumulative 30 day+ delinquency rates by loan
facilitation and origination vintage and 180 day+ delinquency rates
by loan facilitation and origination vintage for all loans
facilitated and originated through the Company’s platform. Loans
under “ICE” and other technology solutions are not included in the
30 day+ charts and the 180 day+ charts:
http://ml.globenewswire.com/Resource/Download/7d57eebf-e9d0-411d-99bd-823ab5f03deb
http://ml.globenewswire.com/Resource/Download/29f9ad1c-894a-421b-98bb-31d4ed2c7442
Semi-Annual Dividend for the Second Half
of 2023
The board of directors of the Company (the
“Board”) has approved a dividend of US$0.29 per Class A ordinary
share, or US$0.58 per ADS for the second half of 2023 to holders of
record of Class A ordinary shares and ADSs as of the close of
business on April 15, 2024 Hong Kong Time and New York Time,
respectively, in accordance with the Company’s dividend policy. For
holder of Class A ordinary shares, in order to qualify for the
dividend, all valid documents for the transfers of shares
accompanied by the relevant share certificates must be lodged for
registration with the Company’s Hong Kong branch share registrar,
Computershare Hong Kong Investor Services Limited, at Shops
1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Hong
Kong no later than 4:30 p.m. on April 15, 2024 (Hong Kong Time).
The payment date is expected to be on May 21, 2024 for holders of
Class A ordinary shares and around May 24, 2024 for holders of
ADSs. The aggregate amount of dividend distribution for the fiscal
year 2023 will be approximately US$170 million.
Dividend Policy for 2024
On March 12, 2024, the Board re-affirmed the
Company’s existing semi-annual cash dividend policy, which was
previously approved by the Board on May 18, 2023. Under the
dividend policy, the Company will continue to declare and
distribute a recurring cash dividend semi-annually, at an amount
equivalent to approximately 20% to 30% of the Company’s GAAP net
income after tax for the previous six-month period. The
determination to make dividend distributions and the exact amount
of such distributions in any particular six-month period will be
based upon the Company’s operations and financial conditions, and
other relevant factors, and subject to adjustment and determination
by the Board.
Update on Share Repurchase Plan of
2023
On June 20, 2023, the Company announced a share
repurchase plan whereby the Company is authorized to repurchase its
American depositary shares ("ADSs") or Class A ordinary shares with
an aggregate value of up to US$150 million during the 12-month
period from June 20, 2023. From the launch of the share repurchase
plan to March 12, 2024, the Company in aggregate purchased
approximately 8.4 million ADSs in the open market for a total
amount of approximately US$132 million (inclusive of commissions)
at an average price of US$15.7 per ADS pursuant to the share
repurchase plan.
New US$350 Million Share Repurchase Plan
of 2024
On March 12, 2024, the Board approved a new
share repurchase plan, under which the Company may repurchase up to
US$350 million worth of its American depositary shares or Class A
ordinary shares over the next 12 months starting from April 1,
2024. The share repurchases may be effected from time to time on
the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and will
be implemented in accordance with applicable rules and
regulations.
Business Outlook
The Company will provide forward-looking
guidance in connection with this quarterly earnings announcement on
its earnings conference call.
Conference Call
Preregistration
Qifu Technology’s management team will host an
earnings conference call at 8:30 PM U.S. Eastern Time on Tuesday,
March 12, 2024 (8:30 AM Beijing Time on Wednesday, March 13,
2024).
All participants wishing to join the conference
call must pre-register online using the link provided below.
Registration Link:
https://register.vevent.com/register/BIac3ebceefacb4999b98ac630ef5df80f
Upon registration, each participant will receive
details for the conference call, including dial-in numbers and a
unique access PIN. Please dial in 10 minutes before the call is
scheduled to begin.
Additionally, a live and archived webcast of the
conference call will be available on the Investor Relations section
of the Company's website at https://ir.qifu.tech.
About Qifu Technology
Qifu Technology is a Credit-Tech platform in
China that provides a comprehensive suite of technology services to
assist financial institutions and consumers and SMEs in the loan
lifecycle, ranging from borrower acquisition, preliminary credit
assessment, fund matching and post-facilitation services. The
Company is dedicated to making credit services more accessible and
personalized to consumers and SMEs through Credit-Tech services to
financial institutions.
For more information, please visit:
https://ir.qifu.tech.
Use of Non-GAAP Financial Measures
Statement
To supplement our financial results presented in
accordance with U.S. GAAP, we use Non-GAAP financial measure, which
is adjusted from results based on U.S. GAAP to exclude share-based
compensation expenses. Reconciliations of our Non-GAAP financial
measures to our U.S. GAAP financial measures are set forth in
tables at the end of this earnings release, which provide more
details on the Non-GAAP financial measures.
We use Non-GAAP income from operation, Non-GAAP
operating margin, Non-GAAP net income, Non-GAAP net income margin,
Non-GAAP net income attributed to the Company and Non-GAAP net
income per fully diluted ADS in evaluating our operating results
and for financial and operational decision-making purposes.
Non-GAAP income from operation represents income from operation
excluding share-based compensation expenses. Non-GAAP operating
margin is equal to Non-GAAP income from operation divided by total
net revenue. Non-GAAP net income represents net income excluding
share-based compensation expenses. Non-GAAP net income margin is
equal to Non-GAAP net income divided by total net revenue. Non-GAAP
net income attributed to the Company represents net income
attributed to the Company excluding share-based compensation
expenses. Non-GAAP net income per fully diluted ADS represents net
income excluding share-based compensation expenses per fully
diluted ADS. Such adjustments have no impact on income tax. We
believe that Non-GAAP income from operation and Non-GAAP net income
help identify underlying trends in our business that could
otherwise be distorted by the effect of certain expenses that we
include in results based on U.S. GAAP. We believe that Non-GAAP
income from operation and Non-GAAP net income provide useful
information about our operating results, enhance the overall
understanding of our past performance and future prospects and
allow for greater visibility with respect to key metrics used by
our management in its financial and operational decision-making.
Our Non-GAAP financial information should be considered in addition
to results prepared in accordance with U.S. GAAP, but should not be
considered a substitute for or superior to U.S. GAAP results. In
addition, our calculation of Non-GAAP financial information may be
different from the calculation used by other companies, and
therefore comparability may be limited.
Exchange Rate Information
This announcement contains translations of
certain RMB amounts into U.S. dollars at specified rates solely for
the convenience of the reader. Unless otherwise noted, all
translations from RMB to U.S. dollars are made at a rate of
RMB7.0999 to US$1.00, the exchange rate set forth in the H.10
statistical release of the Board of Governors of the Federal
Reserve System as of December 29, 2023.
Safe Harbor Statement
Any forward-looking statements contained in this
announcement are made under the “safe harbor” provisions of the
U.S. Private Securities Litigation Reform Act of 1995.
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 business outlook and quotations from management in this
announcement, as well as the Company’s strategic and operational
plans, contain forward-looking statements. Qifu Technology may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (“SEC”), in
announcements made on the website of The Stock Exchange of Hong
Kong Limited (the “Hong Kong Stock Exchange”), 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
the Company’s business outlook, 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, which factors include but not limited to
the following: the Company’s growth strategies, the Company’s
cooperation with 360 Group, changes in laws, rules and regulatory
environments, the recognition of the Company’s brand, market
acceptance of the Company’s products and services, trends and
developments in the credit-tech industry, governmental policies
relating to the credit-tech industry, general economic conditions
in China and around the globe, and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks and uncertainties is included in Qifu
Technology’s filings with the SEC and announcements on the website
of the Hong Kong Stock Exchange. All information provided in this
press release is as of the date of this press release, and Qifu
Technology does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For more information, please
contact:
Qifu
Technology E-mail:
ir@360shuke.com
|
|
Unaudited Condensed Consolidated Balance
Sheets(Amounts in thousands of Renminbi (“RMB”) and U.S.
dollars (“USD”)except for number of shares and per share data, or
otherwise noted) |
|
|
|
|
|
|
|
|
|
December 31, |
December 31, |
December 31, |
|
|
2022 |
2023 |
2023 |
|
|
RMB |
RMB |
USD |
|
ASSETS |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
7,165,584 |
4,177,890 |
588,443 |
|
Restricted cash |
3,346,779 |
3,381,107 |
476,219 |
|
Short term investments |
57,000 |
15,000 |
2,113 |
|
Security deposit prepaid to third-party guarantee companies |
396,699 |
207,071 |
29,165 |
|
Funds receivable from third party payment service providers |
1,158,781 |
1,603,419 |
225,837 |
|
Accounts receivable and contract assets, net |
2,868,625 |
2,909,245 |
409,759 |
|
Financial assets receivable, net |
2,982,076 |
2,522,543 |
355,293 |
|
Amounts due from related parties |
394,872 |
45,346 |
6,387 |
|
Loans receivable, net |
15,347,662 |
24,604,487 |
3,465,470 |
|
Prepaid expenses and other assets |
379,388 |
329,920 |
46,468 |
|
Total current assets |
34,097,466 |
39,796,028 |
5,605,154 |
|
Non-current assets: |
|
|
|
|
Accounts receivable and contract assets, net-noncurrent |
261,319 |
146,995 |
20,704 |
|
Financial assets receivable, net-noncurrent |
688,843 |
596,330 |
83,991 |
|
Amounts due from related parties |
33,236 |
4,240 |
597 |
|
Loans receivable, net-noncurrent |
3,136,994 |
2,898,005 |
408,175 |
|
Property and equipment, net |
47,602 |
231,221 |
32,567 |
|
Land use rights,net |
998,185 |
977,461 |
137,673 |
|
Intangible assets |
4,696 |
13,443 |
1,893 |
|
Goodwill |
- |
41,210 |
5,804 |
|
Deferred tax assets |
1,019,171 |
1,067,738 |
150,388 |
|
Other non-current assets |
55,658 |
45,901 |
6,465 |
|
Total non-current assets |
6,245,704 |
6,022,544 |
848,257 |
|
TOTAL ASSETS |
40,343,170 |
45,818,572 |
6,453,411 |
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
Current liabilities: |
|
|
|
|
Payable to investors of the consolidated trusts-current |
6,099,520 |
8,942,291 |
1,259,495 |
|
Accrued expenses and other current liabilities |
2,004,551 |
2,016,039 |
283,953 |
|
Amounts due to related parties |
113,697 |
80,376 |
11,321 |
|
Short term loans |
150,000 |
798,586 |
112,478 |
|
Guarantee liabilities-stand ready |
4,120,346 |
3,949,601 |
556,290 |
|
Guarantee liabilities-contingent |
3,418,391 |
3,207,264 |
451,734 |
|
Income tax payable |
661,015 |
742,210 |
104,538 |
|
Other tax payable |
182,398 |
163,252 |
22,994 |
|
Total current liabilities |
16,749,918 |
19,899,619 |
2,802,803 |
|
Non-current liabilities: |
|
|
|
|
Deferred tax liabilities |
100,835 |
224,823 |
31,666 |
|
Payable to investors of the consolidated trusts-noncurrent |
4,521,600 |
3,581,800 |
504,486 |
|
Other long-term liabilities |
39,520 |
102,473 |
14,433 |
|
Total non-current liabilities |
4,661,955 |
3,909,096 |
550,585 |
|
TOTAL LIABILITIES |
21,411,873 |
23,808,715 |
3,353,388 |
|
TOTAL QIFU TECHNOLOGY INC EQUITY |
18,847,156 |
21,937,483 |
3,089,829 |
|
Noncontrolling interests |
84,141 |
72,374 |
10,194 |
|
TOTAL EQUITY |
18,931,297 |
22,009,857 |
3,100,023 |
|
TOTAL LIABILITIES AND EQUITY |
40,343,170 |
45,818,572 |
6,453,411 |
|
|
Unaudited Condensed Consolidated Statements of
Operations(Amounts in thousands of Renminbi (“RMB”) and
U.S. dollars (“USD”)except for number of shares and per share data,
or otherwise noted) |
|
|
Three months ended December 31, |
|
Year ended December 31, |
|
2022 |
2023 |
2023 |
|
2022 |
2023 |
2023 |
|
RMB |
RMB |
USD |
|
RMB |
RMB |
USD |
Credit driven services |
2,776,748 |
|
3,248,263 |
|
457,509 |
|
|
11,586,251 |
|
11,738,560 |
|
1,653,342 |
|
Loan facilitation and servicing fees-capital heavy |
361,786 |
|
481,195 |
|
67,775 |
|
|
2,086,414 |
|
1,667,119 |
|
234,809 |
|
Financing income |
1,002,080 |
|
1,485,446 |
|
209,221 |
|
|
3,487,951 |
|
5,109,921 |
|
719,717 |
|
Revenue from releasing of guarantee liabilities |
1,377,046 |
|
1,211,787 |
|
170,677 |
|
|
5,899,153 |
|
4,745,898 |
|
668,446 |
|
Other services fees |
35,836 |
|
69,835 |
|
9,836 |
|
|
112,733 |
|
215,622 |
|
30,370 |
|
Platform services |
1,129,807 |
|
1,247,240 |
|
175,670 |
|
|
4,967,679 |
|
4,551,467 |
|
641,061 |
|
Loan facilitation and servicing fees-capital light |
955,561 |
|
696,985 |
|
98,168 |
|
|
4,124,726 |
|
3,213,955 |
|
452,676 |
|
Referral services fees |
93,341 |
|
446,486 |
|
62,886 |
|
|
561,372 |
|
950,016 |
|
133,807 |
|
Other services fees |
80,905 |
|
103,769 |
|
14,616 |
|
|
281,581 |
|
387,496 |
|
54,578 |
|
Total net revenue |
3,906,555 |
|
4,495,503 |
|
633,179 |
|
|
16,553,930 |
|
16,290,027 |
|
2,294,403 |
|
Facilitation, origination and servicing |
585,586 |
|
731,787 |
|
103,070 |
|
|
2,373,458 |
|
2,659,912 |
|
374,641 |
|
Funding costs |
138,343 |
|
161,016 |
|
22,679 |
|
|
504,448 |
|
645,445 |
|
90,909 |
|
Sales and marketing |
415,187 |
|
551,590 |
|
77,690 |
|
|
2,206,948 |
|
1,939,885 |
|
273,227 |
|
General and administrative |
93,925 |
|
108,037 |
|
15,217 |
|
|
412,794 |
|
421,076 |
|
59,307 |
|
Provision for loans receivable |
481,447 |
|
639,886 |
|
90,126 |
|
|
1,580,306 |
|
2,151,046 |
|
302,968 |
|
Provision for financial assets receivable |
118,590 |
|
148,198 |
|
20,873 |
|
|
397,951 |
|
386,090 |
|
54,380 |
|
Provision for accounts receivable and contract assets |
67,278 |
|
91,105 |
|
12,832 |
|
|
238,065 |
|
175,799 |
|
24,761 |
|
Provision for contingent liabilities |
1,062,318 |
|
784,323 |
|
110,470 |
|
|
4,367,776 |
|
3,053,810 |
|
430,120 |
|
Total operating costs and expenses |
2,962,674 |
|
3,215,942 |
|
452,957 |
|
|
12,081,746 |
|
11,433,063 |
|
1,610,313 |
|
Income from operations |
943,881 |
|
1,279,561 |
|
180,222 |
|
|
4,472,184 |
|
4,856,964 |
|
684,090 |
|
Interest income, net |
56,294 |
|
46,970 |
|
6,616 |
|
|
182,301 |
|
217,307 |
|
30,607 |
|
Foreign exchange (loss) gain |
(4,984 |
) |
(815 |
) |
(115 |
) |
|
(160,225 |
) |
2,356 |
|
332 |
|
Other income, net |
40,515 |
|
5,209 |
|
734 |
|
|
268,000 |
|
230,936 |
|
32,527 |
|
Investment loss |
(10,892 |
) |
- |
|
- |
|
|
(19,888 |
) |
(30,112 |
) |
(4,241 |
) |
Income before income tax expense |
1,024,814 |
|
1,330,925 |
|
187,457 |
|
|
4,742,372 |
|
5,277,451 |
|
743,315 |
|
Income taxes expense |
(156,913 |
) |
(223,237 |
) |
(31,442 |
) |
|
(736,804 |
) |
(1,008,874 |
) |
(142,097 |
) |
Net income |
867,901 |
|
1,107,688 |
|
156,015 |
|
|
4,005,568 |
|
4,268,577 |
|
601,218 |
|
Net loss attributable to noncontrolling interests |
4,100 |
|
4,052 |
|
571 |
|
|
18,605 |
|
16,759 |
|
2,360 |
|
Net income attributable to ordinary shareholders of the
Company |
872,001 |
|
1,111,740 |
|
156,586 |
|
|
4,024,173 |
|
4,285,336 |
|
603,578 |
|
Net income per ordinary share attributable to ordinary shareholders
of Qifu Technology, Inc. |
|
|
|
Basic |
2.76 |
|
3.51 |
|
0.49 |
|
|
12.87 |
|
13.36 |
|
1.88 |
|
Diluted |
2.69 |
|
3.44 |
|
0.48 |
|
|
12.50 |
|
13.04 |
|
1.84 |
|
|
|
|
|
|
|
|
|
Net income per ADS attributable to ordinary shareholders of Qifu
Technology, Inc. |
|
|
|
|
Basic |
5.52 |
|
7.02 |
|
0.98 |
|
|
25.74 |
|
26.72 |
|
3.76 |
|
Diluted |
5.38 |
|
6.88 |
|
0.96 |
|
|
25.00 |
|
26.08 |
|
3.68 |
|
|
|
|
|
|
|
|
|
Weighted average shares used in calculating net income per ordinary
share |
|
|
|
|
Basic |
315,631,310 |
|
316,325,750 |
|
316,325,750 |
|
|
312,589,273 |
|
320,749,805 |
|
320,749,805 |
|
Diluted |
324,039,615 |
|
323,305,948 |
|
323,305,948 |
|
|
322,018,510 |
|
328,508,945 |
|
328,508,945 |
|
|
Unaudited Condensed Consolidated Statements of Cash
Flows (Amounts in thousands of Renminbi (“RMB”) and U.S.
dollars (“USD”)except for number of shares and per share data, or
otherwise noted) |
|
|
Three months ended December 31, |
|
Year ended December 31, |
|
2022 |
2023 |
2023 |
|
2022 |
2023 |
2023 |
|
RMB |
RMB |
USD |
|
RMB |
RMB |
USD |
Net cash provided by operating activities |
1,792,477 |
|
2,351,791 |
|
331,243 |
|
|
5,922,515 |
|
7,118,350 |
|
1,002,598 |
|
Net cash used in investing activities |
(1,680,347 |
) |
(1,885,694 |
) |
(265,594 |
) |
|
(7,355,975 |
) |
(11,147,789 |
) |
(1,570,134 |
) |
Net cash provided by (used in) financing activities |
193,799 |
|
(911,621 |
) |
(128,399 |
) |
|
3,204,068 |
|
1,066,458 |
|
150,209 |
|
Effect of foreign exchange rate changes |
(22,896 |
) |
(877 |
) |
(125 |
) |
|
(18,192 |
) |
9,615 |
|
1,354 |
|
Net increase (decrease) in cash and cash equivalents |
283,033 |
|
(446,401 |
) |
(62,875 |
) |
|
1,752,416 |
|
(2,953,366 |
) |
(415,973 |
) |
Cash, cash equivalents, and restricted cash, beginning of
period |
10,229,330 |
|
8,005,398 |
|
1,127,537 |
|
|
8,759,947 |
|
10,512,363 |
|
1,480,635 |
|
Cash, cash equivalents, and restricted cash, end of period |
10,512,363 |
|
7,558,997 |
|
1,064,662 |
|
|
10,512,363 |
|
7,558,997 |
|
1,064,662 |
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidated Statements of
Comprehensive Income(Amounts in thousands of Renminbi
(“RMB”) and U.S. dollars (“USD”)except for number of shares and per
share data, or otherwise noted) |
|
|
Three months ended December 31, |
|
2022 |
2023 |
2023 |
|
RMB |
RMB |
USD |
Net income |
867,901 |
|
1,107,688 |
|
156,015 |
|
Other comprehensive income, net of tax of nil: |
|
|
Foreign currency translation adjustment |
(21,113 |
) |
(1,756 |
) |
(247 |
) |
Other comprehensive loss |
(21,113 |
) |
(1,756 |
) |
(247 |
) |
Total comprehensive income |
846,788 |
|
1,105,932 |
|
155,768 |
|
Comprehensive loss attributable to noncontrolling interests |
4,100 |
|
4,052 |
|
571 |
|
Comprehensive income attributable to ordinary
shareholders |
850,888 |
|
1,109,984 |
|
156,339 |
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
2022 |
2023 |
2023 |
|
RMB |
RMB |
USD |
Net income |
4,005,568 |
|
4,268,577 |
|
601,218 |
|
Other comprehensive income, net of tax of nil: |
|
|
Foreign currency translation adjustment |
59,157 |
|
18,968 |
|
2,672 |
|
Other comprehensive income |
59,157 |
|
18,968 |
|
2,672 |
|
Total comprehensive income |
4,064,725 |
|
4,287,545 |
|
603,890 |
|
Comprehensive loss attributable to noncontrolling interests |
18,605 |
|
16,759 |
|
2,360 |
|
Comprehensive income attributable to ordinary
shareholders |
4,083,330 |
|
4,304,304 |
|
606,250 |
|
|
|
|
|
|
|
Unaudited Reconciliations of GAAP and Non-GAAP
Results(Amounts in thousands of Renminbi (“RMB”) and U.S.
dollars (“USD”)except for number of shares and per share data, or
otherwise noted) |
|
|
|
|
Three months ended December 31, |
|
|
2022 |
2023 |
2023 |
|
|
RMB |
RMB |
USD |
|
Reconciliation of Non-GAAP Net Income to Net
Income |
|
|
|
|
Net income |
867,901 |
|
1,107,688 |
|
156,015 |
|
Add: Share-based compensation expenses |
51,354 |
|
42,572 |
|
5,996 |
|
Non-GAAP net income |
919,255 |
|
1,150,260 |
|
162,011 |
|
GAAP net income margin |
22.2% |
|
24.6% |
|
|
|
Non-GAAP net income margin |
23.5% |
|
25.6% |
|
|
|
|
|
|
|
|
Net income attributable to shareholders of Qifu Technology,
Inc. |
872,001 |
|
1,111,740 |
|
156,586 |
|
Add: Share-based compensation expenses |
51,354 |
|
42,572 |
|
5,996 |
|
Non-GAAP net income attributable to shareholders of Qifu
Technology, Inc. |
923,355 |
|
1,154,312 |
|
162,582 |
|
Weighted average ADS used in calculating net income per ordinary
share for both GAAP and non-GAAP EPS -diluted |
162,019,808 |
|
161,652,974 |
|
161,652,974 |
|
Net income per ADS attributable to ordinary shareholders of Qifu
Technology, Inc. -diluted |
5.38 |
|
6.88 |
|
0.96 |
|
Non-GAAP net income per ADS attributable to ordinary shareholders
of Qifu Technology, Inc. -diluted |
5.70 |
|
7.14 |
|
1.01 |
|
|
|
|
|
|
Reconciliation of Non-GAAP Income from operations to Income
from operations |
|
|
|
|
Income from operations |
943,881 |
|
1,279,561 |
|
180,222 |
|
Add: Share-based compensation expenses |
51,354 |
|
42,572 |
|
5,996 |
|
Non-GAAP Income from operations |
995,235 |
|
1,322,133 |
|
186,218 |
|
GAAP operating margin |
24.2% |
|
28.5% |
|
|
|
Non-GAAP operating margin |
25.5% |
|
29.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
|
2022 |
2023 |
2023 |
|
|
RMB |
RMB |
USD |
|
Reconciliation of Non-GAAP Net Income to Net
Income |
|
|
|
|
Net income |
4,005,568 |
|
4,268,577 |
|
601,218 |
|
Add: Share-based compensation expenses |
199,737 |
|
185,604 |
|
26,142 |
|
Non-GAAP net income |
4,205,305 |
|
4,454,181 |
|
627,360 |
|
GAAP net income margin |
24.2% |
|
26.2% |
|
|
|
Non-GAAP net income margin |
25.4% |
|
27.3% |
|
|
|
|
|
|
|
|
Net income attributable to shareholders of Qifu Technology,
Inc. |
4,024,173 |
|
4,285,336 |
|
603,578 |
|
Add: Share-based compensation expenses |
199,737 |
|
185,604 |
|
26,142 |
|
Non-GAAP net income attributable to shareholders of Qifu
Technology, Inc. |
4,223,910 |
|
4,470,940 |
|
629,720 |
|
Weighted average ADS used in calculating net income per ordinary
share for both GAAP and non-GAAP EPS -diluted |
161,009,255 |
|
164,254,473 |
|
164,254,473 |
|
Net income per ADS attributable to ordinary shareholders of Qifu
Technology, Inc. -diluted |
25.00 |
|
26.08 |
|
3.68 |
|
Non-GAAP net income per ADS attributable to ordinary shareholders
of Qifu Technology, Inc. -diluted |
26.23 |
|
27.22 |
|
3.83 |
|
|
|
|
|
|
Reconciliation of Non-GAAP Income from operations to Income
from operations |
|
|
|
|
Income from operations |
4,472,184 |
|
4,856,964 |
|
684,090 |
|
Add: Share-based compensation expenses |
199,737 |
|
185,604 |
|
26,142 |
|
Non-GAAP Income from operations |
4,671,921 |
|
5,042,568 |
|
710,232 |
|
GAAP operating margin |
27.0% |
|
29.8% |
|
|
|
Non-GAAP operating margin |
28.2% |
|
31.0% |
|
|
|
|
|
|
|
|
Qifu Technology (NASDAQ:QFIN)
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From Dec 2024 to Jan 2025
Qifu Technology (NASDAQ:QFIN)
Historical Stock Chart
From Jan 2024 to Jan 2025