Core Viewpoint - QFIN reported a revenue of 4.691 billion RMB for the fiscal year ending March 31, 2025, representing a year-on-year growth of 12.94%, and a net profit of 1.8 billion RMB, up 54.62% year-on-year [1][2] Group 1: Company Overview - QFIN is a leading credit technology platform in China, focused on providing innovative credit services to financial institutions, consumers, and small and micro enterprises [2][3] - The company aims to enhance the credit service experience by leveraging technology to connect financial institutions with borrowers, improving credit assessment and risk management [2][3] Group 2: Target Audience - The company targets consumers who are underserved by traditional financial institutions, particularly those with short credit histories and high potential for growth [3][4] - Small and micro enterprises are also a key focus, as they often lack access to credit due to traditional institutions' emphasis on larger businesses with established credit histories [4] Group 3: Services Offered - QFIN provides credit-driven services that match potential borrowers with financial institutions, facilitating credit assessments and loan matching [4][5] - The platform services include comprehensive loan matching and post-loan services, utilizing the Intelligent Credit Engine (ICE) for smart marketing and risk management [5][6] - The company operates a light capital model, charging service fees for facilitating loans without taking on credit risk [6][7] Group 4: Partnerships and Collaborations - As of June 30, 2022, QFIN has established partnerships with 133 financial institutions, including state-owned and regional banks, enhancing its service offerings [2][3]

Market Capitalization Summary - New Oriental has a market capitalization of 15.883 billion [2] - TAL Education has a market capitalization of 10.825 billion [2] - Vipshop has a market capitalization of 9.570 billion [2] - 63.59 billion market capitalization for another unnamed entity [2] - 80.68 billion market capitalization for another unnamed entity [2] - 77.94 billion market capitalization for another unnamed entity [2] Stock Performance - New Oriental's stock decreased by 0.07 (-0.35%) [2] - TAL Education's stock decreased by 0.05 (-1.04%) [2] - Vipshop's stock decreased by 0.10 (-0.42%) [2] - Another unnamed entity's stock increased by 0.03 (+0.19%) [2] - Another unnamed entity's stock increased by 0.35 (+0.74%) [2] - Another unnamed entity's stock increased by 0.17 (+1.71%) [2] Additional Company Insights - 40.30 billion market capitalization for Lufax [2] - 24.79 billion market capitalization for Weibo [2] - 18.00 billion market capitalization for Lexin [2] - 8.84 billion market capitalization for Youdao [2] - 4.68 billion market capitalization for Sohu [2] Emerging Companies - 3.29 billion market capitalization for Xunlei [3] - 2.08 billion market capitalization for Yunmi [3] - 1.68 billion market capitalization for Baozun [3] - 667.168 million market capitalization for PA DOL [3]

Core Insights - The core competitiveness of financial AI lies in the deep integration of data assets, real-world scenarios, and financial technology genes, leading to synergistic effects [1] - The company has launched its self-developed financial AI platform and various intelligent applications, including AI approval officers and AI decision assistants [1] - The company’s credit assessment products for small and micro enterprises face significant technical challenges, particularly in data processing and model risk identification [1] Data and Technology - The intelligent assessment module for small and micro enterprises covers 99% of such businesses, with an accuracy rate of 98% for macro and micro information, addressing the financing pain points of "data scarcity and difficult assessment" [2] - Solutions for improving data accuracy and stability include activating knowledge through a knowledge graph and injecting past successful experiences into the model [2] - Establishing an open and transparent assessment system is crucial for the industry [2] Future Development - The company has recently implemented two model development intelligent agents that work 24/7, significantly enhancing work efficiency and improving model performance by nearly 1% in one month [3] - Future directions include creating an end-to-end decision risk intelligent agent to automate the entire process from data input to risk judgment and decision output [3] - The company anticipates that in about two years, AI intelligent agents may appear more as "digital employees," deeply involved in various business operations of financial institutions [3]

Market Capitalization Summary - New Oriental has a market capitalization of 15.943 billion [2] - TAL Education has a market capitalization of 10.927 billion [2] - Vipshop has a market capitalization of 9.612 billion [2] - NIN (Miniso) has a market capitalization of 5.940 billion [2] - JD.com has a market capitalization of 27.23 billion [2] - iQIYI has a market capitalization of 2.548 billion [2] Stock Performance - New Oriental's stock decreased by 0.35 (-1.75%) [2] - TAL Education's stock decreased by 0.10 (-1.93%) [2] - Vipshop's stock decreased by 0.53 (-2.25%) [2] - Miniso's stock increased by 0.64 (+1.36%) [2] - JD.com's stock decreased by 0.54 (-3.42%) [2] - iQIYI's stock decreased by 0.07 (-2.31%) [2] Additional Company Insights - Huami Technology has a market capitalization of 1.97 billion [3] - Cheetah Mobile has a market capitalization of 1.63 billion [3] - Baosheng E-commerce has a market capitalization of 1.84 billion [3] - Tuniu has a market capitalization of 1.34 billion [3] - The stock of Tuniu increased by 0.42 (+4.60%) [3]

Group 1 - The World Artificial Intelligence Conference (WAIC) was held in Shanghai, highlighting the challenges faced by over 1.1 million small and micro enterprises in China, including poor risk resistance and information asymmetry [1] - Qifu Technology showcased its self-developed financial AI platform Deepbank and four core AI assistants, emphasizing the importance of high-quality data and a dynamic financial knowledge graph for the evolution of its credit intelligence [1] - The AI Compliance Assistant significantly improves compliance efficiency, reducing the time to interpret regulatory documents from 40 hours to 2 hours and increasing policy adaptation accuracy from 68% to 99.2% [1] Group 2 - The financial AI industry faces challenges related to the limitations of large models, including difficulties in understanding and executing instructions in complex scenarios, leading to potential inaccuracies [2] - Qifu Technology has discussed the application of embodied intelligence in financial business scenarios but currently does not prioritize it, as finance primarily operates in a digital realm without the need for physical interaction [2]

Core Insights - The core competitiveness of financial AI lies in the deep integration of data assets, real-world scenarios, and the genetic makeup of financial technology, along with the synergistic effects generated from this integration [1]

Core Insights - The core competitive advantage of Qifu Technology in financial AI lies in the deep integration of data assets, real-world scenarios, and its fintech DNA, creating a synergistic effect [1][3] - Since launching its financial large model strategy in 2023, Qifu Technology has shifted its service model from providing technical solutions to banks to delivering AI "productivity" [2] Data and User Base - Qifu Technology has accumulated over 100 million user financial data over nine years, forming a significant professional barrier that is difficult to replicate [1] - The business scale of Qifu Technology's subsidiary, Qifu Shuke, empowered by fintech solutions, surged approximately 144% year-on-year by March 2025 [3] AI Applications and Efficiency - Qifu Technology has developed the industry's first intelligent agent that empowers core credit business, consisting of various modules such as end-to-end credit decision-making and AI compliance assistants [2] - The efficiency leap is evident as intelligent agents have evolved from auxiliary roles to independent "digital employees," significantly enhancing the AUC of core scenario models by 1% [2] Cognitive and Perceptual Enhancements - Multi-modal intelligent agents have rapidly improved user understanding, driving key model AUC up by nearly one point, while image-enhanced intelligent agents have optimized over 70% of core user labels [2] Production Model Evolution - The end-to-end risk decision-making intelligent agent is taking shape, integrating over 700 models and more than 7,000 strategy modules, gradually becoming a strong supplement to traditional risk control systems [2][3] Strategic Collaborations - Qifu Technology's AI + finance strategic collaborations with multiple banks are accelerating the implementation of its solutions [3]

Market Capitalization Summary - New Oriental has a market capitalization of 16.17 billion [2] - TAL Education (好未来) has a market capitalization of 11.26 billion [2] - Vipshop (唯品会) has a market capitalization of 8.21 billion [2] - MINISO (名创优品) has a market capitalization of 5.91 billion [2] - Kingsoft Cloud (金山云) has a market capitalization of 4.40 billion [2] - 51Talk (在线教育) has a market capitalization of 1.75 billion [4] Stock Performance - New Oriental's stock decreased by 0.02 (-0.10%) [2] - TAL Education's stock increased by 0.14 (+2.97%) [2] - Vipshop's stock decreased by 0.17 (-1.08%) [2] - MINISO's stock increased by 0.20 (+2.04%) [2] - Kingsoft Cloud's stock decreased by 1.26 (-3.49%) [2] - 51Talk's stock decreased by 0.16 (-2.71%) [4] Additional Company Insights - Huya (虎牙) has a market capitalization of 7.88 billion [4] - Sohu (搜狐) has a market capitalization of 4.70 billion [4] - 9F Group (玖富) has a market capitalization of 1.89 billion [4] - Financial One Account (金融壹账通) has a market capitalization of 2.91 billion [4]

Market Capitalization Overview - The market capitalizations of various companies are listed, with New Oriental at 16.195 billion, TAL at 10.802 billion, and Vipshop at 6.051 billion [2]. - Other notable companies include MINISO at 5.930 billion, Kingsoft Cloud at 4.975 billion, and Weibo at 2.586 billion [2][3]. Stock Performance - New Oriental's stock increased by 0.78 (+4.01%), while TAL's stock decreased by 0.15 (-3.05%) [2]. - Vipshop's stock fell by 0.29 (-1.76%), and MINISO's stock saw a decrease of 2.93 (-7.34%) [2]. - Kingsoft Cloud's stock rose by 1.53 (+8.71%), indicating a positive performance [2]. Company Comparisons - The market value of various companies shows significant differences, with New Oriental leading the list, followed by TAL and Vipshop [2]. - Companies like Huya and iQIYI have market values of 1.984 billion and 2.724 billion, respectively, reflecting their positions in the market [2][3]. Sector Insights - The data reflects a mixed performance across different sectors, with some companies experiencing gains while others face declines [2][3]. - The overall market sentiment appears to be cautious, as indicated by the fluctuations in stock prices across various companies [2][3].

Market Capitalization Summary - New Oriental has a market capitalization of 15.139 billion [2] - TAL Education Group has a market capitalization of 10.502 billion [2] - Vipshop Holdings has a market capitalization of 10.213 billion [2] - Grape King has a market capitalization of 6.398 billion [2] - Qifu Technology has a market capitalization of 5.644 billion [2] - Miniso has a market capitalization of 5.523 billion [2] - Kingsoft Cloud has a market capitalization of 4.401 billion [2] - Huya has a market capitalization of 0.891 billion [4] Stock Performance - New Oriental's stock decreased by 0.24 (-0.97%) [2] - TAL Education Group's stock decreased by 0.05 (-0.26%) [2] - Vipshop Holdings' stock increased by 0.12 (+2.73%) [2] - Grape King's stock decreased by 0.02 (-0.13%) [2] - Qifu Technology's stock decreased by 0.31 (-0.73%) [2] - Miniso's stock decreased by 0.14 (-0.81%) [2] - Kingsoft Cloud's stock decreased by 0.17 (-1.07%) [2] - Huya's stock decreased by 0.43 (-4.26%) [4] Additional Company Insights - Financial One Account has a market capitalization of 0.291 billion with a stock performance of +0.15 (+4.70%) [4] - Cheetah Mobile has a market capitalization of 0.018 billion with a stock performance of +0.95 (+17.89%) [4] - Tuniu has a market capitalization of 0.0132 billion with a stock performance of -0.72 (-7.12%) [4] - Happy Auto has a market capitalization of 0.0092654 billion with a stock performance of -0.54 (-6.01%) [4]