Core Insights - Investors in the Technology Services sector may consider Qifu Technology, Inc. (QFIN) and Symbotic Inc. (SYM) for potential value opportunities [1] Valuation Metrics - QFIN has a forward P/E ratio of 6.38, significantly lower than SYM's forward P/E of 133.59 [5] - The PEG ratio for QFIN is 0.57, indicating a favorable valuation relative to its expected earnings growth, while SYM's PEG ratio is 4.45 [5] - QFIN's P/B ratio stands at 2.10, compared to SYM's P/B of 37.63, suggesting QFIN is more reasonably valued based on its book value [6] Analyst Outlook - QFIN currently holds a Zacks Rank of 1 (Strong Buy), reflecting a positive earnings estimate revision trend, while SYM has a Zacks Rank of 5 (Strong Sell) [3] - The improving earnings outlook for QFIN positions it as a superior value option compared to SYM [7] Value Grades - QFIN has been assigned a Value grade of A, indicating strong undervaluation metrics, whereas SYM has a Value grade of F, suggesting it is overvalued [6]

Core Viewpoint - Qifu Technology, Inc. (QFIN) has demonstrated exceptional stock performance, significantly outperforming its industry and competitors over the past year and six months, driven by strong financial metrics and strategic initiatives [1][4][17]. Company Performance - QFIN stock has increased by 129% over the past year, compared to a 36.8% rise in the industry and 11.4% growth in the Zacks S&P 500 composite [1]. - In the last six months, QFIN has gained 52.4%, while the industry rose by 7.3%, and competitors N-able and NV5 Global saw declines of 22.3% and 11.3%, respectively [4]. - As of the last trading session, QFIN closed at $46.05, down 6.3% from its 52-week high of $48.94 [4]. Financial Strength - Qifu Technology reported strong cash reserves of $1.4 billion at the end of Q4 2024, with only $188 million in current debt, indicating a healthy financial position [10]. - The current ratio of 2.45 exceeds the industry average of 1.76, reflecting the company's ability to meet short-term obligations, with a 22.5% increase from the previous year [11]. - The return on equity stands at 27.3%, significantly higher than the industry average of 5.5%, showcasing exceptional profitability and efficient capital use [13]. Growth Catalysts - China's consumption-driven policies, aimed at boosting income and reducing burdens, serve as a growth catalyst for QFIN [6]. - The company has integrated AI into its operations, leading to a 25.1% improvement in user outreach and a 10% reduction in the average cost per credit line user [8]. - QFIN's loan portfolio, primarily in credit cards, mortgages, and auto loans, aligns well with government initiatives to enhance consumer lending [7]. Valuation and Prospects - QFIN stock is currently priced at 6.4 times forward 12-month earnings per share, significantly lower than the industry average of 24.2 times [15]. - The Zacks Consensus Estimate projects 2025 revenues at $2.4 billion, reflecting a 2.2% increase, and 2026 revenues at $2.7 billion, indicating a 12.4% year-over-year rise [16]. - Earnings estimates for 2025 are pegged at $6.93 per share, a 22.4% increase from the prior year, with 2026 earnings expected to reach $7.77 per share, suggesting a 12% year-over-year rise [16].

Core Viewpoint - Qifu Technology, Inc. will hold its annual general meeting (AGM) on June 30, 2025, to discuss several key resolutions including a name change and re-appointment of auditors [1][4]. Group 1: AGM Details - The AGM is scheduled for June 30, 2025, at 10:00 a.m. Beijing time, at Lujiazui Finance Plaza, Shanghai [1]. - The record date for Class A ordinary shares is set for May 27, 2025, Hong Kong time, allowing holders to attend and vote at the AGM [2]. - Holders of American Depositary Shares (ADSs) must provide voting instructions to The Bank of New York Mellon to exercise their voting rights [3]. Group 2: Proposed Resolutions - Proposed changes at the AGM include changing the company's English name from "Qifu Technology, Inc." to "Qfin Holdings, Inc." [1]. - The company plans to adopt an amended and restated memorandum and articles of association [1]. - Deloitte Touche Tohmatsu Certified Public Accountants LLP is proposed for re-appointment as the auditor until the next AGM [1]. - Mr. Xiangge Liu is proposed for re-election as a director of the company [1]. Group 3: Company Overview - Qifu Technology is a leading AI-empowered Credit-Tech platform in China, providing technology services throughout the loan lifecycle [5]. - The company utilizes machine learning models and data analytics to enhance credit service accessibility for consumers and SMEs [5].

Core Insights - The internet financial information service industry is experiencing rapid growth driven by the dual forces of high-quality development in the securities market and technological innovation, with the market size projected to expand significantly from 10.07 billion yuan in 2015 to 63.52 billion yuan in 2024, reflecting a compound annual growth rate of 22.71% [1][18] - The industry has evolved into a complete value chain from data collection and processing to intelligent information integration, benefiting from the continuous growth of household wealth and increasing demand for financial information from investors [1][18] Industry Overview - The internet financial information service industry emerged alongside the development of the internet, effectively utilizing its convenience and speed to provide investors with enhanced information services. The industry can be segmented into three categories: financial information terminal services, value-added information services, and online financial information services [3] - Despite the rapid growth of the industry, China's market size remains relatively small compared to its potential and the more mature international markets, indicating significant growth opportunities [3] Development History - The development of internet finance in China began before 2005, with traditional financial institutions initially moving their services online. The introduction of e-commerce in 1993 marked the start of a shift towards electronic business operations [5][6] - The period from 2005 to 2012 saw the emergence of true internet financial business models, including third-party payment, P2P lending, and crowdfunding, leading to significant changes in traditional financial models [6] Policy Environment - Government policies have been supportive of the healthy and orderly development of the internet financial information service industry, with initiatives aimed at enhancing data security, network security, and the application of new technologies [8][10] Industry Chain - The industry chain has matured, encompassing financial information, third-party payment, and online lending. The upstream includes data suppliers, banks, and individual fund providers, while the downstream consists of individual consumers, merchants, and enterprises [11] - The connection between merchants and end customers is crucial for the transaction volume of third-party payment services, with small and micro merchants playing a significant role in the market's long-tail effect [11] Market Dynamics - The financial sector is experiencing stable growth, with the total social financing scale projected to reach 408.3 trillion yuan in 2024, reflecting an 8% year-on-year increase. This stable financial environment provides a solid foundation for the development of the internet financial information service industry [13] - The software and information technology service industry, which includes internet financial information services, is crucial for economic development, with revenues expected to reach 13.73 trillion yuan in 2024, growing by 10% year-on-year [16] Competitive Landscape - Leading companies in the internet financial information service sector include Dongfang Caifu, Tonghuashun, and Zhinancai, which have capitalized on the rapid development of internet technology and the liberalization of interest rates to attract investors [20][23] - Dongfang Caifu's revenue from securities services is projected to be 8.494 billion yuan in 2024, while Tonghuashun's revenue is expected to reach 4.187 billion yuan, reflecting growth driven by increased demand for financial information services [23][25] Future Trends - The industry is expected to undergo a technological transformation with the integration of AI, big data, and cloud computing, leading to smarter services and improved user experiences [27] - Regulatory frameworks are becoming stricter, promoting the need for compliance and risk management, which will shape the industry's future development [28] - User demand is diversifying, pushing for innovative service offerings that cater to both individual and institutional investors, emphasizing real-time data and personalized services [29]

Core Viewpoint - The company has successfully completed the issuance of $690 million in convertible senior notes due in 2030, including an upsized amount of $90 million from initial buyers [1] Group 1: Issuance Details - The notes will bear an annual interest rate of 0.50%, with interest payments made semi-annually on April 1 and October 1 starting from October 1, 2025 [2] - The initial conversion rate is set at 16.7475 shares of American Depositary Shares (ADS) per $1,000 principal amount of notes, translating to an initial conversion price of approximately $59.71 per ADS [2] Group 2: Use of Proceeds - The net proceeds from the note issuance are intended to fund a new share repurchase program authorized by the company's board, supplementing the existing repurchase program announced in November 2024 [1] - The company anticipates repurchasing approximately $230 million worth of ADS through private negotiated transactions with certain note buyers at the time of pricing the notes [1]

Exhibit 99.1 Qifu Technology Announces Fourth Quarter and Full Year 2024 Unaudited Financial Results and Raises Semi-Annual Dividend Shanghai, China, March 16, 2025, Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) ("Qifu Technology" or the "Company"), a leading AI-empowered Credit-Tech platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024 and raised semi- annual dividend. Fourth Quarter 2024 Business Highlights 1 Refers to cumulative ...

Corporate Structure and Compliance - As of December 31, 2024, the company has issued and outstanding 283,981,320 shares of Class A common stock with a par value of $0.00001 per share[5]. - The company is classified as a large accelerated filer under the Securities Exchange Act[14]. - The financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP)[14]. - The company has complied with all reporting requirements under the Securities Exchange Act for the past 12 months[11]. - The company is registered with the SEC under Form 20-F for the fiscal year ending December 31, 2024[2]. - The company operates primarily from its headquarters located at Lujiazui Financial Service Plaza, 1217 Dongfang Road, Shanghai, China[3]. - The company has not reported any significant amendments to the rights of security holders or the use of proceeds from securities offerings[13]. - The company has not identified any unresolved staff comments in the past five years[19]. - The company has a commitment to maintaining effective internal controls over financial reporting as per the Sarbanes-Oxley Act[14]. - The company has not indicated any errors in previously issued financial statements that would require restatement[14]. Financial Performance and Projections - The company reported a significant increase in loan facilitation scale, with a total loan principal amount facilitated reaching $X million, reflecting a Y% growth compared to the previous period[26]. - The 180-day+ historical overdue rate was reported at Z%, indicating a decrease from the previous quarter, showcasing improved credit performance[24]. - The company anticipates a robust growth trajectory in the Chinese credit technology industry, projecting an annual growth rate of A% over the next five years[29]. - The number of users with approved credit limits increased by B%, highlighting the company's expanding customer base and market penetration[26]. - The company is focusing on enhancing its technology solutions, with investments in new product development expected to reach $C million in the upcoming fiscal year[29]. - The 30-day recovery rate improved to D%, reflecting effective collection strategies and customer engagement initiatives[24]. - Future guidance indicates an expected revenue growth of G% for the next fiscal year, driven by increased demand for credit technology solutions[29]. - The company reported a total operating revenue of RMB 16,290,027 for 2023, with a significant contribution from credit-driven services[59]. - The company expects net income for 2024 to reach RMB 6,248,116, indicating a projected growth of 46.1% from 2023[61]. Regulatory and Compliance Risks - There is significant uncertainty regarding the enforceability of these contractual arrangements under Chinese law, which may incur substantial costs for the company[38]. - The company faces various risks related to conducting business in China, including compliance with complex and evolving regulations, which could adversely affect operations and the value of American depositary shares[41]. - The company is subject to potential penalties or forced relinquishment of interests if found in violation of existing or future Chinese laws or regulations regarding foreign investment[40]. - The company’s ability to continue offering securities to investors may be severely restricted or completely hindered due to regulatory risks[41]. - The company relies on its VIE structure to conduct business in China, which may not be as effective as direct ownership in providing operational control[39]. - The company’s financial performance may be significantly impacted by the enforceability of its contractual arrangements with VIEs and their subsidiaries[40]. - The company’s auditor may not be subject to PCAOB inspections, which could lead to trading restrictions on its shares in the U.S. if certain conditions are met[41]. - The company is listed as a committee identified issuer under HFCAA as of December 15, 2022, following PCAOB's removal of mainland China and Hong Kong from its list of jurisdictions where it cannot inspect or investigate registered public accounting firms[42]. - The company may face significant restrictions on its ability to issue or continue issuing securities to foreign investors due to the Chinese government's regulatory powers[43]. Financial Position and Capital Management - The total paid-in capital, capital reserves, and statutory reserves of the company's Chinese subsidiaries and variable interest entities are RMB 14,436.1 million, RMB 16,233.7 million, and RMB 17,073.2 million respectively as of December 31 for the years 2022, 2023, and 2024[49]. - The company’s ability to pay dividends and settle debts may depend on the dividends paid by its Chinese subsidiaries and the service fees paid by variable interest entities[46]. - The company must comply with several restrictions when its Chinese subsidiaries and variable interest entities pay dividends or transfer net assets[49]. - The company’s total liabilities and equity amounted to RMB 45,818,572 thousand in 2023, reflecting a 13.1% increase from RMB 40,343,170 thousand in 2022[63]. - The company reported a net cash outflow from investing activities of RMB (11,147,789) thousand in 2023, compared to RMB (7,355,975) thousand in 2022, indicating increased investment expenditures[66]. Operational and Market Strategies - The company plans to expand its market presence through strategic partnerships, aiming to increase its market share by E% within the next year[29]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and competitive positioning in the market[29]. - The company plans to declare and distribute regular cash dividends equivalent to approximately 20% to 30% of the after-tax net profit for the first half of 2023, subject to operational and financial conditions[56]. - The company is focusing on strategic acquisitions to enhance its competitive position in the market[72]. - The company plans to continue investing resources in customer acquisition and developing a diversified loan product portfolio to meet consumer and small business credit needs[133]. Credit Risk and Management - The company has adopted a prudent approach to manage credit risk by continuously optimizing its asset and loan portfolios, focusing on improving business quality[88]. - The company faces credit risk related to accounts receivable, contract assets, financial assets receivable, and loans, which could significantly impact its business and financial condition if overdue rates rise substantially[155]. - The company’s ability to recover overdue loans is critical; any impairment in collection methods could lead to a decline in recovery rates[163]. - The company must ensure high-quality platform experiences and effective user complaint management to enhance brand reputation[168]. Technology and Data Security - The company is focused on enhancing its proprietary credit assessment and analysis technology to improve effectiveness, accuracy, and efficiency[86]. - The company collects and processes sensitive user data, facing inherent risks in protecting this information; any failure to safeguard user data could lead to severe reputational damage and operational challenges[121]. - Compliance with evolving data protection regulations is increasingly scrutinized, which may raise compliance costs and expose the company to additional risks and challenges[123]. - The company has implemented internal measures to ensure compliance with data security and personal information protection laws[127]. Strategic Partnerships and Funding - The company has established a framework cooperation agreement with 360 Group, covering terms related to cloud services, user traffic support, and trademark licensing[135]. - The company faces potential risks if unable to maintain cooperation with 360 Group, which may affect customer acquisition costs and efficiency[136]. - The company’s reliance on a few financial institution partners poses a risk to its loan facilitation capabilities if any partner decides to withdraw or change terms unfavorably[142]. - The company is exploring other financing initiatives, including issuing asset-backed securities, to diversify its funding sources[145]. Regulatory Compliance and Challenges - The company faces significant operational risks related to employee and third-party misconduct, which could result in regulatory actions and financial liabilities[170]. - The company must obtain and maintain necessary telecommunications business licenses in China, as failure to do so could severely impact its business operations and financial status[177]. - The company faces potential fines of up to RMB 1 million or five times illegal gains if found operating without necessary VATS licenses, which could significantly impact its business and financial condition[178]. - The company is closely monitoring regulatory developments to ensure compliance and may need to adjust its operations accordingly[144]. Strategic Investments and Acquisitions - The company may evaluate and consider strategic investments, mergers, acquisitions, or alliances to further enhance the value of its platform[198]. - Risks associated with strategic investments or acquisitions include difficulties in integrating acquired operations, personnel, systems, and technologies[199]. - The company may not proceed with any investments or acquisitions, and any future endeavors may not yield expected benefits or sufficient revenue to offset acquisition costs[200].

Financial Metrics and Estimates - As of December 31, 2024, the allowance for loans receivable is RMB2,694.4 million (US$369.1 million) and the outstanding balance for contingent guarantee liability is RMB1,820.4 million (US$249.4 million) [679] - A 0.5 percentage point increase/decrease in the overall estimated default rate would result in an increase/decrease of RMB358.6 million (US$49.1 million) for allowance for loans receivable and RMB335.4 million (US$45.9 million) for contingent guarantee liability [679] - If there is a one percentage point increase/decrease in the portion of total transaction price allocated to loan facilitation services, the revenue from loan facilitation services would increase/decrease by approximately RMB23.0 million (US$3.2 million) for loans facilitated during the year ended December 31, 2024 [676] - The fair value of stand ready guarantee liabilities is estimated using a discounted cash flow model based on expected net payouts, which is influenced by the estimated default rate of underlying loans [680] - Allowances for financial assets and contingent guarantee liability are driven by estimated default rates based on historical data and correlation factors such as CPI and delinquent loan collection rates [678] Revenue Recognition and Transaction Pricing - The company recognizes revenues from loan facilitation services at the time a loan is originated, while revenues from post-facilitation services are recognized on a straight-line basis over the term of the underlying loans [671] - The company applies significant management judgment in determining and allocating the transaction price, including estimation of variable consideration and standalone selling price of each performance obligation [672] - The total transaction price includes service fees chargeable from borrowers or partner financial institutions, which incorporates variable considerations such as prepayment risk and future default rates [673] - The estimate of prepayment risk of borrowers is based on historical information and current trends, which can significantly impact the total transaction price [675] Performance Metrics - The company reported a 180-day+ vintage delinquency rate, which is calculated as the total amount of principal for loans delinquent for more than 180 days minus recovered past due principal, divided by the total initial principal amount of loans facilitated in the fiscal quarter [14] - The 30-day collection rate was highlighted, indicating the percentage of principal repaid within one month among overdue loans as of a specified date [14] - The outstanding loan balance at the end of the period included the total principal outstanding for loans facilitated, excluding loans delinquent for more than 180 days [14] - The repeat borrower contribution was noted, with a percentage representing the principal amount of loans borrowed by repeat borrowers relative to total loan facilitation volume [14] Business Strategy and Market Outlook - The company emphasized its capital-light model, which involves technology-enabled loan facilitation services without bearing credit risk [14] - Future expectations include growth in the Credit-Tech industry in China, with anticipated demand for Credit-Tech products [20] - The company aims to strengthen relationships with borrowers and financial institution partners, which is crucial for future business development [20] - Competition in the industry was acknowledged as a factor that could impact the company's performance [20] - Government policies and regulations relating to the industry were mentioned as potential influences on business operations [20] - The company plans to continue monitoring evolving risk factors that may affect its financial condition and results of operations [18]

Financial Data and Key Metrics Changes - Total net revenue for Q4 was $4.48 billion, compared to $4.37 billion in Q3 and $4.25 billion a year ago, indicating a sequential increase [26] - Non-GAAP net income for Q4 increased by 71.5% year over year to RMB1.97 billion, with non-GAAP net income per diluted ADS surging 91.3% year over year to RMB13.7 [9][31] - Full year non-GAAP net income rose 44% year over year to reach an all-time high of RMB6.42 billion [9] - The company executed a $410 million share repurchase, buying back approximately 12% of its share count [10] Business Line Data and Key Metrics Changes - Revenue from credit-driven services (Capital Heavy) was $2.89 billion in Q4, down from $3.25 billion a year ago, primarily due to a decline in off-balance sheet loans [26] - Revenue from platform services (Capital Light) was $1.59 billion in Q4, up from $1.25 billion a year ago, driven by strong contributions from ICE and other value-added services [26] - The proportion of loan volume from the Capital Light segment increased by approximately 10 percentage points to 53% throughout 2024 [16] Market Data and Key Metrics Changes - The delinquency rate for 90 days was 2.09% in Q4, down from 2.7% in Q3, while the 30-day collection rate increased to 88.1% from 87.4% [29] - The company observed a 10% increase in loan application ratios in Q4 compared to Q3, indicating a recovery in credit demand [43] Company Strategy and Development Direction - The company plans to adopt a one core, two wings strategy, focusing on domestic credit as the core and technology solutions and international expansion as the wings [21][22] - The company aims to enhance its AI capabilities, with plans to build an AI agent platform to empower core lending processes [20] - The management emphasized a commitment to optimizing capital allocation and enhancing shareholder returns through share buybacks and dividends [23][24] Management Comments on Operating Environment and Future Outlook - Management noted improvements in user activities and credit demand since September 2024, with expectations for Q1 loan volume to grow by more than 10% year over year [43] - The company remains cautiously optimistic about 2025, expecting its core credit business to maintain high-quality development while expanding its technology solutions business [22] Other Important Information - The company achieved a record high ROE of 27.9% in 2024, significantly outperforming most financial services and Internet companies in China [10] - The company plans to ramp up ABS issuance in 2025, increasing the share of ABS in its funding mix [15] Q&A Session Summary Question: What areas are seeing the most potential for AI integration and what is the credit demand outlook for 2025? - Management highlighted significant improvements in AI applications, particularly in credit assessment and loan collection, and noted a 10% increase in loan application ratios in Q4 [39][43] Question: What are the drivers for the movement of early asset quality indicators in Q4? - The slight increase in day one delinquency and collection rates was attributed to an optimization in repayment reminder strategies, with overall risk levels remaining stable [48][50] Question: How does the new regulation impact the overall industry and the company? - Management expressed optimism about the regulatory environment, noting that the government's direction to boost consumption through consumer finance is encouraging [56][58] Question: What is the outlook for funding costs? - Funding costs have continued to decline, but management indicated limited room for further decline due to the current low levels [60][62] Question: How does the company plan to deliver value to shareholders? - The company aims to maintain a 70% payout ratio while prioritizing share buybacks, with a new $450 million buyback program in place [67][70]

Financial Performance - Total net revenue for 2024 reached RMB 17,165.7 million (USD 2,351.7 million), an increase from RMB 16,290.0 million in 2023[16]. - Net profit for 2024 was RMB 6,248.1 million (USD 856.0 million), compared to RMB 4,268.6 million in 2023, reflecting a significant growth[16]. - Non-GAAP net profit for 2024 was RMB 6,415.7 million (USD 879.0 million), up from RMB 4,454.2 million in 2023[16]. - Total net income for the three months ended December 31, 2024, reached RMB 4,482,252 thousand, a slight decrease of 0.3% compared to RMB 4,495,503 thousand in the same period of 2023[55]. - The net profit for the year ended December 31, 2024, was RMB 6,248,116 thousand, representing a 46.5% increase from RMB 4,268,577 thousand in 2023[58]. - The company reported a total revenue of RMB 17,165,656 thousand for the year ended December 31, 2024, an increase of 5.4% from RMB 16,290,027 thousand in 2023[55]. - The basic earnings per share for the year ended December 31, 2024, was RMB 21.02, compared to RMB 13.36 in 2023, reflecting a growth of 57.5%[55]. - The company reported a total operating income of RMB 7,528,570 thousand for the full year 2024, compared to RMB 4,856,964 thousand in 2023, indicating strong growth[62]. Loan and Credit Metrics - As of December 31, 2024, the platform has connected with 162 financial institution partners and 261.2 million potential credit-demand consumers, an increase of 11.0% from 235.4 million last year[9]. - The cumulative number of users with approved credit limits reached 56.9 million, up 11.8% from 50.9 million as of December 31, 2023[9]. - The total loan volume facilitated and initiated reached RMB 89,885 million, a 0.4% increase from RMB 89,561 million in the same period of 2023, and a 9.0% increase from RMB 82,436 million in the previous quarter[9]. - The outstanding loan balance as of December 31, 2024, was RMB 137,014 million, a decrease of 5.7% from RMB 145,270 million as of December 31, 2023, but an increase of 7.3% from RMB 127,727 million as of September 30, 2024[9]. - The 90-day+ delinquency rate for loans initiated by financial institutions was 2.09% as of December 31, 2024[9]. - The average contract term for loans initiated by financial institutions was approximately 10.00 months in Q4 2024, compared to 11.47 months in the same period of 2023[9]. - The loan volume under the light capital model, smart credit engine (ICE), and comprehensive technology solutions accounted for 53.2% of the total loan volume, increasing by 23.2% from RMB 38,798 million in the same period of 2023[9]. Cost Management and Expenses - The total operating costs and expenses for Q4 2024 were RMB 2,591.9 million (USD 355.1 million), down from RMB 3,215.9 million in Q4 2023[20]. - The company’s total operating costs and expenses were RMB 9,637.1 million (USD 1,320.3 million), down from RMB 11,433.1 million in 2023, indicating improved cost management[27]. - The total operating expenses for the year ended December 31, 2024, decreased to RMB 9,637,086 thousand from RMB 11,433,063 thousand in 2023, a reduction of 15.6%[55]. - General and administrative expenses amounted to RMB 449.5 million (USD 61.6 million), slightly up from RMB 421.1 million in 2023[29]. Cash Flow and Assets - Operating cash flow for 2024 reached a historical high of RMB 93.4 billion, supporting strategic initiatives and shareholder returns[16]. - Operating cash flow for the three months ended December 31, 2024, was RMB 3,051,606 thousand, up 29.7% from RMB 2,351,791 thousand in the same period of 2023[56]. - The company reported a total asset value of RMB 48,132,618 as of December 31, 2024, an increase from RMB 45,818,572 in 2023, representing a growth of approximately 6.8%[54]. - Cash and cash equivalents increased to RMB 4,452,416 in 2024 from RMB 4,177,890 in 2023, reflecting a growth of about 6.5%[54]. - The company’s cash and cash equivalents at the end of December 31, 2024, were RMB 6,805,800 thousand, down from RMB 7,558,997 thousand at the end of 2023[56]. Shareholder Returns and Dividends - The company plans to distribute a semi-annual dividend of USD 0.70 per ADS for the second half of 2024[40]. - The company has approved a share buyback plan with a total value of up to USD 350 million, with approximately 3.1 million ADS purchased at an average price of USD 34.5 per share[41]. Future Outlook and Strategy - The company expects to generate a net profit of RMB 1.75 billion to RMB 1.85 billion in Q1 2025, reflecting a year-on-year growth of 49% to 58%[42]. - The company plans to invest more resources into AI applications in credit scenarios, aiming for quality growth and innovation[15]. - The company’s strategy includes a focus on growth through partnerships and market expansion, with potential impacts from regulatory changes and market acceptance of its products[52]. - The company is focused on improving operational efficiency amid ongoing macroeconomic uncertainties[42]. Non-GAAP Measures - The company emphasized the importance of non-GAAP financial measures to avoid distortion from certain expenses included in GAAP results, enhancing understanding of past performance and future outlook[50]. - The company’s operating profit margin, calculated using non-GAAP measures, is expected to provide insights into business trends and operational performance[50]. - The company’s net profit attributable to shareholders, calculated using non-GAAP measures, is expected to provide practical information regarding operational performance[50].