Exhibit 99.1 Qifu Technology Announces Third Quarter 2023 Unaudited Financial Results Shanghai, China, November 16, 2023, 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 third quarter ended September 30, 2023. Third Quarter 2023 Business Highlights · As of September 30, 2023, our platform has connected 155 financial institutional partners and 227.9 million consumers with po ...

Financial Data and Key Metrics Changes - By the end of Q1 2023, the platform connected approximately 46 million users with approved credit lines, with total loan facilitation and origination volume reaching RMB 109.5 billion, up 10.7% year-over-year and 4.7% quarter-over-quarter [4] - Total net revenue for Q1 was CNY 3.6 billion, compared to CNY 3.9 billion in Q4 and CNY 4.3 billion a year ago [18][24] - Non-GAAP net profit was CNY 976 million in Q1, compared to CNY 919 million in Q4 [24] Business Line Data and Key Metrics Changes - Revenue from platform service capital light was CNY 969 million in Q1, down from CNY 1.1 billion in Q4 and CNY 1.4 billion a year ago [19] - The capitalized loan facilitation and technology solutions accounted for roughly 56% of total loan volume, remaining flat compared to the prior quarter [19] Market Data and Key Metrics Changes - Liquidity in the financial system improved, with total social financing and M2 money supply increasing by 10% and 12.7% year-over-year, respectively [7] - The day 1 delinquency rate decreased by 37 basis points from December 2022, while the M1 production rate increased by 189 basis points for the same period [6] Company Strategy and Development Direction - The company plans to enhance customer acquisition through partnerships and innovative marketing strategies, including live streaming and precision marketing [9][30] - The focus on existing users is crucial, with efforts to improve conversion effectiveness and user engagement [30] - The company aims to strengthen its ability to identify and manage specific segments, particularly SMEs, which account for over 40% of the user base [11] Management's Comments on Operating Environment and Future Outlook - Management noted a gradual recovery in the macroeconomic environment, with expectations for improved credit demand and business activities throughout 2023 [25] - The company maintains a full-year total loan volume target of between RMB 455 billion and RMB 495 billion, representing year-on-year growth of 10% to 20% [25] Other Important Information - The Board of Directors approved an increase in the dividend payout ratio to 20% to 30% from the previous 15% to 20% of net profit, transitioning to a semiannual dividend distribution schedule [24] - The establishment of a large language model department aims to leverage generative AI technologies for enhancing user experience and operational efficiency [13] Q&A Session Summary Question: Strategic focus for the rest of the year - Management emphasized the importance of both new customer acquisition and optimizing existing clients, with efforts to expand partnerships and improve marketing efficiency [28][30] Question: Measures for operational efficiency - Management highlighted variable costs in customer acquisition and plans to lower the unit cost per credit line user, with a target of around RMB 330 [32][33] Question: Loan pricing outlook - Management indicated that the recovery of credit demand is more significant than competitive pressures, with plans to maintain stable pricing while refining risk management models [36][37] Question: Loan demand trends - Management observed a moderate recovery in credit demand, with faster recovery in regions like Shanghai and among higher-quality users [40]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Qifu Technology, Inc. 奇富科技股份有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3660） 2023年第一季度財務業績公告以及股息政策的變動 我們謹此公佈截至2023年3月31日止第一季度的未經審核財務業績以及股息政策 的變動。 本業績公告可於香港聯合交易所有限公司網站 www.hkexnews.hk及我們的網站 ir.qifu.tech查閱。 承董事會命 奇富科技股份有限公司 董事長 周鴻禕 香港，2023年5月19日 於本公告日期，本公司董事會包括董事周鴻禕先生、吳海生先生、徐祚立先生、 ...

[Q1 2023 Financial and Operational Overview](index=1&type=section&id=Q1%202023%20Financial%20and%20Operational%20Overview) Qifu Technology showed operational growth and strategic shift towards capital-light model, despite a decline in financial performance [Business Highlights](index=1&type=section&id=First%20Quarter%202023%20Business%20Highlights) Qifu Technology demonstrated solid operational growth in Q1 2023, expanding user base and loan volumes, with the capital-light model dominating Key Operational Metrics (as of March 31, 2023) | Metric | Q1 2023 | YoY Growth | | :--- | :--- | :--- | | Cumulative Consumers with Potential Credit Needs | 214.5 million | 11.2% | | Cumulative Users with Approved Credit Lines | 46.0 million | 15.6% | | Cumulative Borrowers with Successful Drawdown | 27.7 million | 10.8% | | Total Facilitation and Origination Loan Volume | RMB 109.5 billion | 10.7% | | Capital-Light Model Loan Volume | RMB 61.3 billion | 15.0% | | Total Outstanding Loan Balance | RMB 171.3 billion | 16.8% | | Capital-Light Model Outstanding Loan Balance | RMB 104.5 billion | 32.6% | | 90 day+ Delinquency Rate | 2.18% | N/A | - The capital-light model, including ICE and other technology solutions, accounted for **56.0%** of the total loan volume in Q1 2023[2](index=2&type=chunk) [Financial Highlights](index=2&type=section&id=First%20Quarter%202023%20Financial%20Highlights) Q1 2023 saw a year-over-year decline in total net revenue and net income, yet healthy operating margins were maintained Q1 2023 Key Financial Metrics | Metric | Q1 2023 (RMB million) | Q1 2022 (RMB million) | YoY Change | | :--- | :--- | :--- | :--- | | Total Net Revenue | 3,599.2 | 4,320.0 | -16.7% | | Income from Operations | 1,007.0 | 1,359.3 | -25.9% | | Non-GAAP Income from Operations | 1,053.5 | 1,411.3 | -25.3% | | Net Income | 929.8 | 1,174.4 | -20.8% | | Non-GAAP Net Income | 976.3 | 1,226.4 | -20.4% | - The company reported an operating margin of **28.0%** and a non-GAAP operating margin of **29.3%** for the first quarter[8](index=8&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management expressed confidence in business growth, highlighted improving risk metrics, and a strong cash position - CEO Haisheng Wu noted that total loan facilitation and origination volume reached **RMB 109.5 billion**, up **10.7%** YoY, with the capital-light model contributing **56%** of the volume[10](index=10&type=chunk) - CFO Alex Xu highlighted a strong financial position with approximately **RMB 9.0 billion** in cash and cash equivalents and **RMB 1.8 billion** in cash from operations, enabling growth and increased dividend payouts[12](index=12&type=chunk) - CRO Yan Zheng reported continued improvement in overall risk metrics, with the Day-1 delinquency rate improving to **4.1%** and 30-day collection rates recovering noticeably[12](index=12&type=chunk) [Detailed Financial Results](index=3&type=section&id=First%20Quarter%202023%20Financial%20Results) This section details Q1 2023 financial performance, including revenue, costs, profitability, and asset quality trends [Revenue Analysis](index=3&type=section&id=Revenue%20Analysis) Q1 2023 total net revenue decreased to RMB 3,599.2 million, driven by declines in Credit Driven and Platform Services Revenue Breakdown (RMB million) | Revenue Category | Q1 2023 | Q1 2022 | YoY Change | | :--- | :--- | :--- | :--- | | **Total Net Revenue** | **3,599.2** | **4,320.0** | **-16.7%** | | Credit Driven Services | 2,630.6 | 2,920.6 | -9.9% | | Platform Services | 968.6 | 1,399.4 | -30.8% | - The year-over-year decrease in Loan facilitation and servicing fees-capital light was mainly due to a decline in average IRR and an adjustment related to early repayment[17](index=17&type=chunk) - Financing income increased to **RMB 1,065.9 million** from **RMB 789.2 million** YoY, primarily due to growth in the average outstanding balance of on-balance-sheet loans[16](index=16&type=chunk) [Operating Costs and Expenses](index=3&type=section&id=Operating%20Costs%20and%20Expenses) Total operating costs decreased to RMB 2,592.1 million, mainly due to lower provisions and reduced sales and marketing expenses Operating Costs Breakdown (RMB million) | Expense Category | Q1 2023 | Q1 2022 | YoY Change | | :--- | :--- | :--- | :--- | | **Total Operating Costs & Expenses** | **2,592.1** | **2,960.8** | **-12.5%** | | Facilitation, origination and servicing | 640.3 | 614.9 | +4.1% | | Funding costs | 159.0 | 103.8 | +53.2% | | Sales and marketing | 422.2 | 552.6 | -23.6% | | Provision for contingent liability | 680.3 | 961.9 | -29.3% | - A reversal of prior quarters' provisions was noted for accounts receivable, contract assets, and contingent liabilities, as loans facilitated in previous quarters performed better than expected[23](index=23&type=chunk) [Profitability Analysis](index=4&type=section&id=Profitability%20Analysis) Profitability declined year-over-year, with income from operations at RMB 1,007.0 million and net income at RMB 929.8 million Profitability Metrics (RMB million) | Metric | Q1 2023 | Q1 2022 | YoY Change | | :--- | :--- | :--- | :--- | | Income from Operations | 1,007.0 | 1,359.3 | -25.9% | | Net Income | 929.8 | 1,174.4 | -20.8% | | Net Income Attributed to the Company | 934.1 | 1,179.5 | -20.8% | | Non-GAAP Net Income | 976.3 | 1,226.4 | -20.4% | - Net income per fully diluted ADS was **RMB 5.64 (US$0.82)**, while Non-GAAP net income per fully diluted ADS was **RMB 5.92 (US$0.86)**[25](index=25&type=chunk)[27](index=27&type=chunk) [Delinquency Rate by Vintage](index=5&type=section&id=Delinquency%20Rate%20by%20Vintage) Historical cumulative 30-day+ and 180-day+ delinquency rates by loan vintage are provided to assess asset quality trends - The report includes charts and tables displaying historical cumulative 30 day+ and 180 day+ delinquency rates by loan origination vintage to track asset quality[27](index=27&type=chunk) [Corporate Actions and Outlook](index=7&type=section&id=Corporate%20Actions%20and%20Outlook) This section outlines changes in dividend policy and reiterates the company's business outlook for the full year 2023 [Changes in Dividend Policy](index=7&type=section&id=Changes%20in%20Dividend%20Policy) The Board approved a new semi-annual dividend policy, increasing the payout ratio to 20%-30% of net income, effective H1 2023 - The dividend policy was changed from a quarterly payout of **15%-20%** of net income to a semi-annual payout of **20%-30%** of net income for the previous six-month period[31](index=31&type=chunk)[32](index=32&type=chunk) - The new dividend policy is effective immediately as of **May 18, 2023**, and no quarterly dividend was declared for Q1 2023 in light of this change[32](index=32&type=chunk) [Business Outlook](index=7&type=section&id=Business%20Outlook) Qifu Technology reiterates its full-year 2023 guidance for loan facilitation and origination volume, maintaining a prudent approach - The company maintains its 2023 outlook for loan facilitation and origination volume to be between **RMB 455.0 billion** and **RMB 495.0 billion**[33](index=33&type=chunk) - This guidance represents a projected year-on-year growth of **10% to 20%**[33](index=33&type=chunk) [Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including balance sheets, operations, cash flows, and GAAP reconciliation [Balance Sheet](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets were RMB 40.9 billion, liabilities decreased, and total equity increased to RMB 19.7 billion Key Balance Sheet Items (RMB thousands) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | 5,128,335 | 7,165,584 | | Loans receivable, net (Total) | 21,376,379 | 18,484,656 | | **Total Assets** | **40,879,366** | **40,343,170** | | **Total Liabilities** | **21,152,035** | **21,411,873** | | **Total Equity** | **19,727,331** | **18,931,297** | [Statement of Operations](index=10&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2023 statement of operations shows net income of RMB 929.8 million, a decrease from RMB 1,174.4 million YoY Q1 2023 Income Statement Summary (RMB thousands) | Line Item | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Total net revenue | 3,599,174 | 4,320,047 | | Total operating costs and expenses | (2,592,144) | (2,960,778) | | Income from operations | 1,007,030 | 1,359,269 | | Income before income tax expense | 1,102,113 | 1,390,786 | | Net income | 929,822 | 1,174,357 | | Net income attributable to the Company | 934,109 | 1,179,498 | [Statement of Cash Flows](index=11&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2023 operating activities generated RMB 1.76 billion cash, while investing activities used RMB 3.56 billion, resulting in a net cash decrease Q1 2023 Cash Flow Summary (RMB thousands) | Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | 1,761,091 | 1,419,597 | | Net cash used in investing activities | (3,564,207) | (2,441,645) | | Net cash provided by financing activities | 38,940 | 1,077,034 | | Net (decrease) in cash and cash equivalents | (1,767,019) | 51,166 | | Cash, cash equivalents, and restricted cash, end of period | 8,745,344 | 8,811,113 | [GAAP to Non-GAAP Reconciliation](index=13&type=section&id=Unaudited%20Reconciliations%20of%20GAAP%20and%20Non-GAAP%20Results) This section reconciles GAAP to non-GAAP measures, excluding share-based compensation of RMB 46.5 million for Q1 2023 Q1 2023 GAAP to Non-GAAP Reconciliation (RMB thousands) | Metric | GAAP | Share-based Compensation | Non-GAAP | | :--- | :--- | :--- | :--- | | Income from operations | 1,007,030 | 46,496 | 1,053,526 | | Net income | 929,822 | 46,496 | 976,318 |

Share Structure and Compliance - The company has 322,792,063 shares of Class A ordinary shares with a par value of $0.00001 per share issued and outstanding as of December 31, 2022[2] - The company is registered as a large accelerated filer under the Securities Exchange Act[4] - The company has submitted all required reports under the Securities Exchange Act Sections 13 or 15(d) in the past 12 months and has been in compliance with the submission requirements for the past 90 days[3] - The company has used US Generally Accepted Accounting Principles (GAAP) to prepare the financial statements included in this filing[5] - The company is not a shell company as defined in the Securities Exchange Act[6] Loan Performance Metrics - 180-day+ historical delinquency rate is a percentage equal to (i) the total principal amount of all loans facilitated by the company and overdue for more than 180 days in a fiscal quarter, minus the total overdue principal amount recovered for loans overdue for more than 180 days in the same fiscal quarter, divided by (ii) the total initial principal amount of loans facilitated by the company in that fiscal quarter[10] - 30-day recovery rate is a percentage equal to (i) the principal amount repaid within one month out of the total overdue principal as of a specified date, divided by (ii) the total overdue principal as of that date[10] - 90-day+ delinquency rate is a percentage equal to (i) the outstanding balance of on- and off-balance sheet loans facilitated by the company and overdue for 91 to 180 calendar days, divided by (ii) the total outstanding balance of on- and off-balance sheet loans facilitated by the company as of a specific date[10] - Loan facilitation volume refers to the total principal amount of loans facilitated or issued by the company's credit technology platform, traditional financial institutions, or other market participants in the credit industry during a specific period[10] - Outstanding loan balance refers to the total outstanding principal amount of loans facilitated or issued by the company's credit technology platform, traditional financial institutions, or other market participants in the credit industry as of the end of each period[11] - Repeat loan volume is a percentage where the numerator is the loan principal amount borrowed by borrowers who have had at least one successful withdrawal in the past during the period, and the denominator is the total loan facilitation volume through the company's platform during the period[11] - Users with approved credit lines refer to users who have submitted credit applications and have been approved for credit lines as of the end of each period[11] Forward-Looking Statements and Risks - The company's forward-looking statements include expectations regarding future business development, financial condition, and operating performance, as well as anticipated growth in China's credit technology industry[12] - The company's forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected[13] Variable Interest Entities (VIEs) - Variable Interest Entities (VIEs) accounted for 97%, 92%, and 92% of the company's total net revenue in 2020, 2021, and 2022 respectively[16] - The company relies on contractual arrangements with VIEs and their shareholders to control operations in China, which may not be as effective as direct ownership[17] - Legal uncertainties in China regarding the interpretation and enforcement of VIE contractual arrangements pose significant risks[18] - Potential changes in Chinese laws or regulations could lead to severe penalties or forced divestment of VIE-related business interests[19] - The company faces risks related to overseas issuance approvals, antitrust actions, cybersecurity, and data privacy regulations in China[20] - The company may be identified as a Commission-Identified Issuer under the HFCAA if PCAOB determines it cannot fully inspect and investigate audit firms in China and Hong Kong, potentially leading to a trading ban if identified for two consecutive years[21] - The Chinese government has significant regulatory power over the company's operations, which could severely limit or prevent the issuance of securities to investors, potentially causing a significant devaluation of securities[22] - The company's operations in China require licenses and permits from Chinese government authorities, and future additional licenses or approvals may be necessary due to regulatory uncertainties[23] - Future securities issuances to foreign investors may require approval or filing with the China Securities Regulatory Commission (CSRC) and cybersecurity review by the Cyberspace Administration of China (CAC), with potential penalties for non-compliance[24] - The company's ability to pay dividends and repay debt depends on dividends from its Chinese subsidiaries and service fees from variable interest entities (VIEs)[25] - Chinese subsidiaries are restricted in paying dividends to the holding company due to regulatory requirements, including mandatory reserves and surplus funds[26] - The company's Chinese subsidiaries and consolidated variable interest entities (VIEs) have restrictions on transferring net assets or paying dividends, with restricted amounts of RMB 2,740.4 million, RMB 8,283.6 million, and RMB 14,436.1 million (USD 2,093.0 million) as of December 31, 2020, 2021, and 2022, respectively[27] - The company's Chinese VIE paid service fees to the wholly foreign-owned enterprise (WFOE) of RMB 89.7 million, RMB 5,001.9 million, and RMB 420.3 million (USD 60.9 million) in 2020, 2021, and 2022, respectively[29] - The company's Chinese VIE paid service fees to other Chinese subsidiaries of RMB 286.4 million, RMB 616.5 million, and RMB 3.3 million (USD 0.5 million) in 2020, 2021, and 2022, respectively[29] - The company's Chinese subsidiaries repaid net loans of RMB 51.7 million in 2021 and received net funding of RMB 67.2 million and RMB 7.7 million (USD 1.1 million) in 2020 and 2022, respectively[28] - The company's Chinese VIE repaid net loans of RMB 1,588.3 million (USD 230.3 million) in 2022 after receiving net funding of RMB 3.6 million and RMB 205.5 million in 2020 and 2021, respectively[28] - The company's Chinese subsidiaries paid service fees to the Chinese VIE totaling RMB 20.3 million, RMB 258.2 million, and RMB 103.1 million (USD 14.9 million) in 2020, 2021, and 2022, respectively[30] - The company declared dividends of USD 146.4 million in 2022, with plans to distribute recurring cash dividends equivalent to 15%-20% of quarterly net profit starting from Q3 2021[31] - Under Chinese tax laws, dividends distributed to overseas entities from Chinese subsidiaries are subject to a 10% withholding tax, which can be reduced to 5% under certain tax treaties[27] - The company's Chinese VIE provided net loans to Chinese subsidiaries of RMB 20.0 million and RMB 3,658.3 million in 2020 and 2021, respectively, while Chinese subsidiaries provided net loans of RMB 859.9 million (USD 124.7 million) to the VIE in 2022[30] Financial Performance - Total net revenue for 2022 reached RMB 16,553,930 thousand (USD 2,400,094 thousand), showing a slight decrease from RMB 16,635,645 thousand in 2021[36] - Credit-driven services revenue in 2022 was RMB 11,586,251 thousand (USD 1,679,849 thousand), an increase from RMB 10,189,167 thousand in 2021[36] - Platform services revenue in 2022 decreased to RMB 4,967,679 thousand (USD 720,245 thousand) from RMB 6,446,478 thousand in 2021[36] - Net profit for 2022 was RMB 4,005,568 thousand (USD 580,753 thousand), down from RMB 5,764,513 thousand in 2021[37] - Basic earnings per share for 2022 were RMB 12.87 (USD 1.87), compared to RMB 18.82 in 2021[37] - Total operating costs and expenses for 2022 increased to RMB 12,081,746 thousand (USD 1,751,688 thousand) from RMB 9,849,446 thousand in 2021[36] - Provision for contingent liabilities in 2022 was RMB 4,367,776 thousand (USD 633,268 thousand), up from RMB 3,078,224 thousand in 2021[36] - Share-based compensation expenses for 2022 totaled RMB 199,737 thousand (USD 28,959 thousand), a decrease from RMB 253,922 thousand in 2021[38] - The company's weighted average number of shares outstanding (diluted) in 2022 was 322,018,510, up from 321,397,753 in 2021[37] - Cash and cash equivalents increased from RMB 1,445,802 thousand in 2018 to RMB 7,165,584 thousand in 2022, representing a growth of 395.6% over five years[40] - Total assets grew from RMB 7,349,735 thousand in 2018 to RMB 40,343,170 thousand in 2022, a 449% increase over five years[40] - Net cash provided by operating activities reached RMB 5,922,515 thousand in 2022, up 99.1% from RMB 2,973,075 thousand in 2019[42] - Net cash used in investing activities was RMB 7,355,975 thousand in 2022, compared to RMB 8,860,441 thousand used in 2019[42] - Total net revenue for 2022 was RMB 16,553,930 thousand, with variable interest entities contributing RMB 15,362,636 thousand[45] - Operating income for 2022 was RMB 4,472,184 thousand, with variable interest entities contributing RMB 3,681,001 thousand[45] - Net profit attributable to ordinary shareholders of the company was RMB 4,024,173 thousand in 2022[45] - Total liabilities increased from RMB 2,893,781 thousand in 2018 to RMB 16,749,918 thousand in 2022, a 478.7% rise[40] - Shareholders' equity grew from RMB 4,440,196 thousand in 2018 to RMB 18,931,297 thousand in 2022, a 326.4% increase[40] - Restricted cash increased from RMB 567,794 thousand in 2018 to RMB 3,346,779 thousand in 2022, a 489.5% growth[40] - Cash and cash equivalents increased to RMB 7,165,584 thousand in 2022, up from RMB 6,116,360 thousand in 2021[48][49] - Restricted cash rose to RMB 3,346,779 thousand in 2022, compared to RMB 2,643,587 thousand in 2021[48][49] - Total assets grew to RMB 40,343,170 thousand in 2022, up from RMB 33,504,995 thousand in 2021[48][49] - Total liabilities increased to RMB 21,411,873 thousand in 2022, compared to RMB 18,288,386 thousand in 2021[48][49] - Net cash provided by operating activities was RMB 5,922,515 thousand in 2022, up from RMB 5,789,700 thousand in 2021[52][53] - Net cash used in investing activities was RMB 7,355,975 thousand in 2022, compared to RMB 6,064,328 thousand in 2021[52][53] - Net cash provided by financing activities was RMB 3,204,068 thousand in 2022, up from RMB 2,263,720 thousand in 2021[52][53] - Total equity increased to RMB 18,931,297 thousand in 2022, compared to RMB 15,216,609 thousand in 2021[48][49] - Receivables from financial assets net amounted to RMB 3,670,919 thousand in 2022, down from RMB 4,404,208 thousand in 2021[48][49] - Net loans receivable grew to RMB 18,484,656 thousand in 2022, up from RMB 12,703,830 thousand in 2021[48][49] Regulatory and Operational Risks - The credit technology industry is rapidly evolving, making it difficult for the company to effectively assess its future prospects[58] - The company faces uncertainties in regulations and management practices for its lending and financing guarantee businesses, which could adversely affect its operations and financial performance[58] - The company relies on proprietary credit profiling models, and any defects or inefficiencies in these models could significantly impact its reputation and market share[58] - The company's business is subject to complex and evolving data privacy and cybersecurity laws in China, which could lead to increased operational costs and potential reputational damage[59] - The company operates through a variable interest entity (VIE) structure, which may not be as effective as direct ownership and could be subject to regulatory changes in China[60] - The company's American Depositary Shares (ADS) may be delisted from U.S. exchanges if the PCAOB is unable to inspect its auditors, potentially impacting the value of investments[61] - The company faces challenges in maintaining low delinquency rates on loans facilitated through its platform[62] - The company must continue to develop and enhance the effectiveness, accuracy, and efficiency of its proprietary credit assessment and analysis technologies[62] - The company operates in a rapidly changing regulatory environment in China, which could impact its ability to maintain historical growth rates[62] - 90+ day delinquency rates for loans facilitated through the platform were 1.48%, 1.54%, and 2.03% for the years ending December 31, 2020, 2021, and 2022, respectively[64] - The company plans to focus on higher-quality users and enhance technology and credit assessment capabilities to manage credit risk effectively[64] - The company faces risks related to borrower defaults and increased delinquency rates if economic conditions worsen[64] - Regulatory uncertainties in the assisted lending business could adversely affect the company's operations and financial performance[65] - The establishment of the National Financial Regulatory Administration in 2023 introduces changes and uncertainties in the regulatory environment[66] - The company may need to adjust operations to comply with evolving laws, regulations, and policies, such as the "141 Notice" on cash loan regulations[66] - The "Interim Measures for the Administration of Internet Loans of Commercial Banks" prohibits banks from outsourcing credit assessment and risk control processes[67] - The company has adjusted its cooperation model with financial institution partners in response to regulatory requirements, including the 141号文 and supplementary financing guarantee regulations[68] - The company ceased providing guarantees or credit enhancement services through unlicensed variable interest entities since September 2020, now relying on third-party guarantee companies or licensed entities[68] - The company's payment model involves charging service fees to financial institutions instead of interest from borrowers, with third-party payment system providers handling repayment processing[69] - Product pricing has been reduced based on regulatory developments, calculated using an internal rate of return method, with potential further adjustments due to regulatory or business strategy changes[70] - The company's credit assessment assistance to commercial banks relies on personal credit data, which may be considered a "data-driven risk control model" under regulations like 141号文[72] - The company may be viewed as engaging in credit reporting business or services, potentially requiring third-party licensed entities to ensure compliance with the Credit Reporting Business Management Measures[72] - If financial institution partners temporarily or permanently stop providing funding due to regulatory uncertainty or compliance concerns, the company's operations could be adversely affected[72] - The company has completed rectification measures based on self-inspection results and is now under normalized regulatory supervision[73] - The company's small loan business is subject to complex and evolving regulations, with potential risks of non-compliance impacting operations[74] - The company's financing guarantee business is limited by regulations that cap guarantee liabilities at 10 times net assets and 10% of net assets for a single guarantor[75] - The company's cross-provincial online small loan business may require additional approvals if new regulations are adopted[76] - The company's subsidiary, Fuzhou Small Loan, has increased its registered capital to RMB 5 billion and is currently permitted to operate cross-provincial business[77] - The company faces uncertainties in obtaining necessary licenses and approvals for its small loan and financing guarantee businesses, which could impact future growth[78] - The company is subject to regulations on credit information services, with potential penalties for non-compliance[79] - New credit information regulations require companies to obtain a credit business license within an 18-month transition period, with significant uncertainties in interpretation and implementation[80] - The company has completed the rectification of credit information disconnection and established cooperation agreements with licensed credit agencies to ensure compliance with regulatory requirements[82] - The company's loan pricing may exceed the legal interest rate limit, with a maximum internal rate of return (IRR) of 36% for all loans as of December 31, 2022[83][88] - As of December 31, 2022, the outstanding loan balance with an IRR exceeding 24% was RMB 5.4 billion (USD 800 million), accounting for 4.1% of the total outstanding loan balance[88] - The company faces potential risks if historical loan products are deemed non-compliant with interest rate and fee caps, which could require repayment to borrowers[87] - The company has reduced loan pricing and may further adjust it due to regulatory changes or business strategy shifts[88] - The company is subject to potential penalties or criminal liabilities if it fails to comply with regulatory requirements, which could adversely affect its business and financial performance[82][88] - The company's paperless transaction process on its mobile platform may lead to borrower misunderstandings, particularly regarding the internal rate of return (IRR) method used to calculate total interest and service fees[89] - Misleading product promotions and app disclosures could result in legal penalties, borrower complaints, and reputational damage, potentially harming the company's ability to retain and attract borrowers[90] - Fraudulent activities on the platform may negatively impact the company's operating performance, brand reputation, and reduce the use of its loan products and services[91] - The company relies on its proprietary credit profiling model and AI-powered Argus engine to assess borrower creditworthiness, but defects or inefficiencies in these tools could significantly harm its reputation and market share[92] - The Argus engine's effectiveness in detecting new fraud schemes and conducting accurate credit assessments may become outdated, potentially limiting the company's ability to control delinquency rates[94] - The company's risk management team is crucial for iterating and testing the Argus engine, and any disruption in this team could severely impact business operations and financial performance[

Exhibit 99.1 RECONCILIATION BETWEEN U.S. GAAP AND INTERNATIONAL FINANCING REPORTING STANDARD The financial statements are prepared in accordance with U.S. GAAP, which differ in certain respects from International Financial Reporting Standards ("IFRS"). The effects of material differences between the financial statements of the Group prepared under U.S. GAAP and IFRS are as follows: Consolidated Balance Sheet As of December 31, 2021 Amounts in thousands of Renminbi (“RMB”) Amounts as Amounts as reported repo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

360 DigiTech, Inc. (NASDAQ:QFIN) Q4 2022 Earnings Conference Call March 10, 2023 7:30 AM ET Company Participants Karen Ji - Senior Director of Capital Market Wu Haisheng - Chief Executive Officer Alex Xu - Chief Financial Officer Zheng Yan - Chief Risk Officer Conference Call Participants Judy Zhang - Citi Research Yada Li - CICC Thomas Chong - Jefferies LLC Hans Fan - CLSA Alex Ye - UBS Operator Ladies and gentlemen, thank you for standing by, and welcome to the 360 DigiTech Fourth Quarter and Full-Year 20 ...

Exhibit 99.1 360 DigiTech Announces Fourth Quarter 2022 and Full Year 2022 Unaudited Financial Results and Declares Quarterly Dividend Shanghai, March 9, 2023, 360 DigiTech, Inc. (NASDAQ: QFIN; HKEx: 3660) (“360 DigiTech” 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, 2022, and declared quarterly dividend. Fourth Quarter 2022 Business Highlights · As of December 31, 2022, our platform has con ...