While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

交银国际研究 公司更新 金融科技 2024 年 8 月 15 日 收盘价 目标价 潜在涨幅 美元 21.11 美元 27.50↑ +30.3% 奇富科技 (QFIN US) 2 季度盈利增长超预期，3 季度指引强劲 盈利增长强劲。2024 年 2 季度净收入同比+6.3%/环比持平，增长主要来自 表内贷款和推介服务。Non-GAAP 净利润同比+23.3%/环比+17.3%，超市场 预期 25%，主要来自拨备费用下降（拨备回拨），以及营销、管理费用下 降。公司指引 3 季度 Non-GAAP 净利润 15.5-16.5 亿元（人民币，下同）， 对应增速 30-40%之间。 2 季度促成贷款降幅扩大，轻资产模式占比提升，下半年促成贷款增速有 望加快。2 季度促成贷款规模同比下降 23%，轻资产占比 64.9%，环比提 升 3.9 个百分点，ICE 模式保持高速增长；贷款余额同比下降 14.5%，轻资 产占比 65.8%，环比提升 2.5 个百分点。在信贷需求企稳、风险指标持续 改善的基础上，公司下半年将增加规模获客，提升放款量增速。 风险指标改善。90天逾期率环比略升5个基点至3.4%，主要由于分母端贷 款余额 ...

ab 15 August 2024 Global Research and Evidence Lab First Read Qifu Technology A clean beat underpinned by robust asset quality Q: How did the results compare vs expectations? QFIN reported Q224 non-GAAP net income of Rmb1,417m, +17% QoQ and beat company guidance by 13%. Despite muted top-line growth (flattish QoQ), operating profit showed much stronger momentum (+46% QoQ), primarily driven by a sizable write-back of past prudent provisions (Rmb480m) after asset quality showed continued improvement YTD. With ...

Financial Data and Key Metrics - Revenue increased by 6.3% YoY to RMB4.16 billion in Q2 2024, with a net take rate rising by over 1 percentage point YoY to 4.4% [6] - Non-GAAP net income grew by 23% YoY to RMB1.41 billion, and non-GAAP net income per diluted ADS increased by 32% YoY to RMB9.16 [6] - ROE reached 25.4% in Q2, outperforming industry peers [6] - Funding costs decreased by 56 basis points sequentially, totaling a 132 basis point reduction in H1 2024 [8] - 90-day delinquency rate was 3.4% in Q2, while day one delinquency rate decreased by 10 basis points and 30-day collection rate increased by 1.2 percentage points sequentially [7][21] Business Line Performance - Revenue from credit-driven services (capital-heavy) was RMB2.91 billion in Q2, down from RMB3.02 billion in Q1 but up from RMB2.79 billion YoY [17] - Revenue from platform services (capital-light) increased to RMB1.25 billion in Q2, up from RMB1.14 billion in Q1 and RMB1.13 billion YoY [18] - Loan volume under the ICE model increased slightly to 24.6%, with the revenue take rate rising by 54 basis points YoY [12] - Technology solutions business facilitated nearly RMB2 billion in bank loans cumulatively, with outstanding balances exceeding RMB1 billion [12] Market and Strategic Developments - The company served 160 financial institutions and over 53 million users with approved credit lines by the end of Q2 [4] - The embedded finance business saw loan volume more than double YoY, with new credit line users from this channel increasing from 36.4% in Q1 to 37.7% in Q2 [9] - The company is exploring collaborations with financial institutions under the embedded finance model, aiming to enhance service efficiency and promote financial inclusion [10][11] - The technology solutions business achieved an 80% standardization rate, with partnerships established with 12 financial institutions [12][13] Management Commentary on Operating Environment and Outlook - Despite macroeconomic challenges, the company achieved its highest quarterly profit in the past 11 quarters, driven by improved asset quality and operational efficiency [4][6] - Management expects funding costs to remain stable with potential for slight decreases in H2 2024 [8] - The company plans to maintain prudent operations, iterate products and services, and expand strategic partnerships to build a sustainable growth engine [16] - For Q3 2024, the company expects non-GAAP net income between RMB1.55 billion and RMB1.65 billion, representing YoY growth of 31% to 40% [27] Other Key Information - The company issued RMB4.6 billion in ABS in Q2, with H1 2024 ABS issuance up 30% YoY [8] - Sales and marketing expenses decreased by 12% QoQ and 16% YoY, reflecting a more prudent customer acquisition approach [19] - The company upgraded its AI copilot system, achieving a speech recognition accuracy rate of over 93% and intent recognition accuracy of over 95% [14][15] - The Board approved a dividend of $0.30 per Class A ordinary share or $0.60 per ADS for H1 2024 [24] Q&A Session Summary Question: Loan volume growth and take rate expectations for H2 2024 - Loan volume is expected to grow in H2 2024 due to stable credit demand, improved risk metrics, and diversified acquisition channels [30][31] - Take rate growth in Q3 is driven by declining credit and funding costs, better monetization through platform strategy, and increased contribution from the capital-light model [33] Question: Impact of Mr. Zhou Hongyi's resignation - Mr. Zhou resigned due to personal reasons, and his departure will not impact daily operations as he was not involved in them [35][36] Question: Share buyback pace and rationale - The company accelerated share buybacks, purchasing $211 million worth of stock by August 13, 2024, due to undervaluation and to maximize shareholder value [38] Question: Funding cost reduction and asset quality improvement - Funding costs declined due to lower ABS costs and increased ABS proportion, with limited room for further reduction [41] - Asset quality improved due to cautious loan origination, optimized risk models, and enhanced post-loan operations [42][43] Question: Customer acquisition pace in H2 2024 - The company plans to accelerate customer acquisition in H2 2024, leveraging diversified channels and embedded finance models to achieve quality loan growth [47][48]

August 2024 2Q2024 Result Presentation Strictly Private and Confidential Disclaimer This presentation has been prepared by Qifu Technology, Inc. (the "Company") solely for information purpose. By viewing or accessing the information contained in this material, you hereby acknowledge and agree that no representations, warranties or undertakings, express or implied, are made by the Company or any of its directors, shareholders, employees, agents, affiliates, advisors or representatives as to, and no reliance ...

Exhibit 99.1 Qifu Technology Announces First Quarter 2024 Unaudited Financial Results Shanghai, China, May 19, 2024, 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 first quarter ended March 31, 2024. First Quarter 2024 Business Highlights • As of March 31, 2024, our platform has connected 159 financial institutional partners and 241.4 million consumers with potential credi ...

SHANGHAI, Aug. 13, 2024 (GLOBE NEWSWIRE) -- 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 second quarter and six months ended June 30, 2024, announced board change and raised semi-annual dividend. Second Quarter 2024 Business Highlights As of June 30, 2024, our platform has connected 160 financial institutional partners and 247.6 million consumers*1 with potential credit ...

SHANGHAI, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Qifu Technology, Inc. (NASDAQ:QFIN, HKEx: 3660))) ("Qifu Technology" or the "Company"), a leading Credit-Tech platform in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2024, after U.S. markets close on Tuesday, August 13, 2024. Qifu Technology's management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Tuesday, August 13, 2024 (8:30 AM Beijing Time on Wednesday, August 1 ...

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

Investors interested in Technology Services stocks are likely familiar with Qifu Technology, Inc. (QFIN) and Maplebear (CART) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets com ...