SHANGHAI, China, March 27, 2025 (GLOBE NEWSWIRE) -- Qifu Technology, Inc. (NASDAQ:QFIN, HKEx: 3660)) ("Qifu Technology" or the "Company"), a leading AI-empowered Credit-Tech platform in China, today announced the completion of its offering of convertible senior notes (the "Notes Offering") in an aggregate principal amount of US$690 million due 2030 (the "Notes"), including the initial purchasers' full exercise of option to purchase an additional US$90 million principal amount of the Notes. The Notes have be ...

Investors looking for stocks in the Technology Services sector might want to consider either Qifu Technology, Inc. (QFIN) or SPX Technologies (SPXC) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revis ...

Core Viewpoint - Qifu Technology, Inc. has announced a convertible senior notes offering totaling US$600 million, with plans to utilize the proceeds for share repurchases, which is expected to enhance earnings per ADS in 2025 [1][2][10] Group 1: Notes Offering Details - The offering consists of convertible senior notes with a principal amount of US$600 million, maturing in 2030, and an option for initial purchasers to buy an additional US$90 million [1] - The notes will bear an interest rate of 0.50% per year, payable semiannually, and holders can require the company to repurchase the notes at 100% of the principal amount plus accrued interest on specific dates [3][4] - The initial conversion rate is set at 16.7475 ADSs per US$1,000 principal amount, equating to a conversion price of approximately US$59.71 per ADS, representing a 35.0% premium over the closing price on March 25, 2025 [4] Group 2: Share Repurchase Plan - The net proceeds from the notes offering will be used for a newly established share repurchase plan, which includes a Concurrent Repurchase of approximately US$230 million in ADSs at a price of US$44.23 per ADS [2][8] - The March 2025 Share Repurchase Plan allows for additional repurchases of ADSs and/or class A ordinary shares in the open market or through other means, subject to market conditions [9][10] - The repurchase activities are expected to create meaningful accretion in earnings per ADS and offset potential dilution from the conversion of the notes [10] Group 3: Company Overview - Qifu Technology is a leading AI-empowered Credit-Tech platform in China, providing technology services to assist financial institutions and consumers throughout the loan lifecycle [16][17]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Qifu Technology, Inc. (QFIN) as a strong value stock based on its financial metrics and rankings [2][3][6] Company Analysis - Qifu Technology, Inc. currently holds a Zacks Rank of 2 (Buy) and a Value grade of A, indicating strong potential for value investors [3] - The company has a PEG ratio of 0.81, which is significantly lower than the industry average of 1.69, suggesting it may be undervalued [4] - QFIN's PEG has fluctuated between a high of 0.81 and a low of 0.27 over the past 52 weeks, with a median of 0.41 [4] - The P/B ratio for QFIN is 2.13, which is favorable compared to the industry average P/B of 6.27, further indicating potential undervaluation [5] - Over the past year, QFIN's P/B has ranged from a high of 2.26 to a low of 0.92, with a median of 1.32 [5] - These financial metrics suggest that Qifu Technology, Inc. is likely being undervalued and has a strong earnings outlook, making it an attractive investment opportunity [6]

SHANGHAI, China, March 25, 2025 (GLOBE NEWSWIRE) -- Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today published its annual ESG report for 2024. The report demonstrates Qifu Technology’s ESG-related guidelines, strategies and targets in 2024, highlighting the Company’s efforts to environmental sustainability and social responsibility, the progress to improve corporate governance, and its ESG performance. In the f ...

SHANGHAI, China, March 25, 2025 (GLOBE NEWSWIRE) -- Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission on March 25, 2025. The annual report can be accessed on the Company’s investor relations website at ir.qifu.tech as well as the SEC’s website at www.sec.gov. The ...

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].

Core Viewpoint - Qifu Technology, Inc. is proposing a convertible senior notes offering of US$600 million due 2030, aimed at qualified institutional buyers, with an additional option of US$90 million for initial purchasers [1] Group 1: Notes Offering Details - The proposed offering consists of convertible senior notes with a total principal amount of US$600 million, maturing on April 1, 2030 [1][3] - The notes will be general unsecured obligations of the company, with holders having the option to require repurchase on April 3, 2028, at 100% of the principal amount plus accrued interest [3] - The notes will be convertible under certain conditions, with cash-par settlement upon conversion, allowing the company to pay cash or a combination of cash and American depositary shares (ADSs) [4][5] Group 2: Use of Proceeds - The net proceeds from the notes offering will be used for repurchasing ADSs and/or class A ordinary shares under a newly established share repurchase plan, which is expected to be accretive to earnings per ADS upon closing [2][11] - The March 2025 Share Repurchase Plan allows for concurrent repurchases at the time of pricing the notes and additional repurchases over time [7][10] Group 3: Repurchase Plan Mechanics - The concurrent repurchase will involve buying back ADSs from certain purchasers of the notes in off-market transactions, facilitating initial hedges for those investors [8][9] - Future repurchases may occur on the open market or through other means, adhering to applicable regulations [10] Group 4: Company Overview - Qifu Technology is a leading AI-empowered Credit-Tech platform in China, providing technology services to assist financial institutions and consumers throughout the loan lifecycle [16]

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]