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。 Qfin Holdings, 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） 2025年第三季度財務業績公告 我們謹此公佈截至2025年9月30日止第三季度的未經審核財務業績（「2025年第三 季度財務業績」）。 2025年第三季度財務業績可於香港聯合交易所有限公司網站www.hkexnews.hk及 我們的網站https://ir.qfin.com查閱。 承董事會命 奇富科技股份有限公司 首席執行官 吳海生 香港，2025年11月19日 於本公告日期，本公司董事會包括董事吳海生先生、徐祚立先生及趙丹先生；及 獨立董事肖鋼先生、閻焱先生、趙帆先生、陳曉歡先生、劉祥革先生及焦嬌女士。 1 奇富科技公佈2025年第三季度未經審核財務業績 中國上海，2025年11月18日，中國領先的人工智能賦能的信貸科技平台奇富科技股份有限公司（納斯達 克：QFIN；港交所：3660） ...

Core Insights - Qfin Holdings reported its unaudited financial results for Q3 2025, highlighting a challenging macroeconomic environment and regulatory changes impacting operations [1][13][15]. Business Highlights - As of September 30, 2025, Qfin's platform connected 167 financial institutional partners and 283.7 million consumers, marking an 11.6% increase from 254.3 million a year prior [11]. - Cumulative users with approved credit lines reached 62.1 million, up 12.6% from 55.2 million year-over-year [11]. - The number of cumulative borrowers with successful drawdowns was 38.1 million, reflecting a 15.1% increase from 33.1 million a year ago [11]. - In Q3 2025, financial institutional partners originated 22,475,059 loans through the platform [11]. - Total loan facilitation and origination volume was RMB 83,280 million, a 1.0% increase from RMB 82,436 million in the same period of 2024 [11]. Financial Highlights - Total net revenue for Q3 2025 was RMB 5,205.7 million (US$ 731.2 million), compared to RMB 4,370.2 million in the same period of 2024 [19][18]. - Net income was RMB 1,432.5 million (US$ 201.2 million), down from RMB 1,798.8 million in Q3 2024 [36]. - Non-GAAP net income was RMB 1,508.2 million (US$ 211.9 million), compared to RMB 1,825.1 million in the same period of 2024 [37]. - The weighted average contractual tenor of loans originated was approximately 10.58 months, compared to 10.12 months in Q3 2024 [11]. - The 90-day+ delinquency rate was 2.09% as of September 30, 2025 [11]. Operational Insights - The company issued nearly RMB 18.9 billion in asset-backed securities (ABS) in the first three quarters of 2025, over a 40% increase from the same period last year [14]. - Approximately 48% of the quarter-end loan balance was under the capital-light model, ICE, and total technology solutions [14]. - The company aims to maintain resilience in its baseline business while optimizing resource allocation amid macro challenges [15]. Future Outlook - For Q4 2025, the company expects net income between RMB 0.92 billion and RMB 1.12 billion, representing a year-on-year decline of 39% to 49% [43]. - For the full year 2025, net income is projected to be between RMB 5.88 billion and RMB 6.08 billion, reflecting a year-on-year change of -2% to +1% [43].

Industry News - The National Energy Administration has issued guidelines to promote the integrated development of renewable energy, aiming for significant improvements in reliability and market competitiveness by 2030 [2] - The Ministry of Industry and Information Technology reported that over 600,000 technology and innovation-oriented SMEs have been cultivated in China, with more than 140,000 specialized and innovative SMEs [5] - The Ministry of Industry and Information Technology is seeking public opinions on the management measures for the printed circuit board industry, emphasizing the need for technological advancement and quality improvement [10] - The Ministry of Education has outlined plans to establish a comprehensive technology education system in primary and secondary schools by 2030, enhancing practical skills and interdisciplinary teaching methods [11] - The State Post Bureau reported that from October 21 to November 11, the national express delivery companies collected 13.938 billion packages, with a daily average of 634 million, indicating a significant expansion in the express delivery market [12] Company News - Haibo Sichuang has signed a strategic cooperation agreement with CATL to procure a total of no less than 200 GWh of electricity from 2026 to 2028 [16] - Century Huatong plans to repurchase between 500 million to 1 billion yuan of its shares for cancellation [16] - Changrong Co. intends to establish a controlling subsidiary to cooperate in the construction of a 100 MW photovoltaic power station [16] - CATL has begun mass production of its fifth-generation lithium iron phosphate battery products [16] - Shengton Mining is advancing its internationalization process with a planned investment of 1.423 billion yuan in its subsidiary [16] - Jingyuan Environmental Protection has won a water treatment project in the power industry worth approximately 143 million yuan [16] - Sturdy Medical's wholly-owned subsidiary plans to invest 2 billion yuan to build a production base for all-cotton spunlace non-woven fabric [16] - Giant Star Legend is deepening its cooperation with Yushu Technology to accelerate the commercialization of the robotics industry [16]

Core Points - Qifu Technology-S (03660.HK) announced that its board of directors will hold a meeting on November 18, 2025, to approve the unaudited financial results for the third quarter ending September 30, 2025 [1] - The financial results will be published on November 19, 2025, before the trading session on the Hong Kong Stock Exchange [1] - The management team will host a conference call on November 18, 2025, at 7:30 PM Eastern Time [1]

所有有意參與電話會議的與會者務必使用以下鏈接在線上作好提前登記。 登記鏈接：https://s1.c-conf.com/diamondpass/10051202-aikhpy.html 登記後，每位與會者將收到電話會議的詳情，包括撥入號碼及專屬進入PIN。請 於電話會議擬定開始時間前10分鐘撥入。 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。 Qfin Holdings, 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） 董事會會議日期及刊發2025年第三季度財務業績公告日期 奇富科技股份有限公司（「本公司」）董事會（「董事會」）將於2025年11月18日（星期 二）（北京╱香港時間）舉行董事會會議，旨在（其中包括）批准本公司截至2025年 9月30日止第三季度的未經審計財務業績及公告（「2025年第三季度財務業績」）。 本公司將於2025年11月19日（星期三）（北京╱香港時間）在香港聯合交易所有限 公司交易 ...

Core Viewpoint - Qfin Holdings, Inc. will report its unaudited financial results for Q3 2025 on November 18, 2025, after U.S. markets close [1] Group 1: Financial Reporting - The earnings conference call is scheduled for 7:30 PM U.S. Eastern Time on November 18, 2025 [2] - Participants must pre-register online to join the conference call [3] - A live and archived webcast of the conference call will be available on the Company's Investor Relations website [4] Group 2: Company Overview - Qfin Holdings is a leading AI-empowered Credit-Tech platform in China, providing technology services for the loan lifecycle [5] - The Company utilizes machine learning models and data analytics to enhance credit services for financial institutions, consumers, and SMEs [5]

Market Overview - US stock markets experienced a decline, with major indices such as the Nasdaq down 2.04%, S&P 500 down 1.17%, and Dow Jones down 0.53% [2] - Large tech stocks faced significant losses, including Intel down over 6%, Tesla down over 5%, and Nvidia down over 3% [2] - The cryptocurrency market saw Bitcoin drop below $100,000, with a minimum price of $99,600, reflecting a 6.5% decline [2] Economic Indicators - Wall Street executives expressed concerns about a potential major correction in the US stock market, with estimates of a 10% to 20% decline [1] - The US government is facing an extended shutdown, with the current situation expected to surpass the previous record of 35 days [1] Commodity Market - Gold prices fell sharply, with spot gold down 1.67% to $3,934.06 per ounce, and COMEX gold down 1.71% to $3,945.30 per ounce [2] - Silver and copper also experienced declines, with silver down 1.72% to $47.11 per ounce [2] - International oil prices saw slight decreases, with WTI crude oil down 0.8% to $60.56 per barrel [2] Agricultural Sector - The US soybean export volume is projected to decrease significantly, with a forecasted export of approximately 4.96 million tons for 2025, a substantial drop from the previous year [4] - Exports to China have notably declined, with only 593,000 tons exported in the first eight months of 2025, down nearly 80% from 2.68 million tons in the same period of 2024 [4] Precious Metals Market - Analysts suggest that gold and silver prices are currently in a consolidation phase after a significant drop from historical highs, driven by profit-taking and reduced expectations for interest rate cuts by the Federal Reserve [5][6] - The recent tax policy changes regarding gold transactions are expected to impact market dynamics, potentially leading to increased selling pressure from companies holding large amounts of physical gold [7][8] - The new tax regulations aim to guide gold trading towards more regulated markets, enhancing transparency and efficiency [8]

Market Overview - On November 4, global financial markets experienced significant declines, with major U.S. indices all closing lower: Dow Jones down 0.53%, S&P 500 down 1.17%, and Nasdaq down 2.04%, losing nearly 500 points [1] - The Toronto 300 index fell by 1.64%, while Brazil's IBOVESPA and Mexico's MXX saw minor declines of 0.08% and 0.18% respectively [2] Technology Sector - Major technology stocks faced widespread losses, with Intel dropping over 6%, Tesla down more than 5% (losing approximately $80.2 billion in market value), and Nvidia falling over 3% (losing about $199 billion in market value) [2] - Other tech giants like Google and Amazon also saw declines, while Apple experienced a slight increase [2] Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 2.05%, with several Chinese stocks like Xiaoma Zhixing down nearly 10% and Futu Holdings down over 7% [2] Global Indices - The FTSE A50 futures index dropped by 0.24%, while European indices also fell: Euro Stoxx 50 down 0.27%, CAC 40 down 0.52%, and DAX 30 down 0.6% [3] - In Asia, the Seoul Composite Index fell sharply by 2.4%, and the Nikkei 225 dropped by 1.7% [3] Commodities - International precious metals futures saw declines, with COMEX gold futures down 1.81% to $3941.30 per ounce and silver down 2.40% to $46.90 per ounce [4] - Oil prices also fell slightly, with WTI crude oil futures down 0.8% to $60.56 per barrel and Brent crude down 0.69% to $64.44 per barrel [4] Cryptocurrency Market - The cryptocurrency market faced a significant downturn, with Bitcoin dropping over 7% and briefly falling below $100,000, while Ethereum saw a 14% decline [5] - Over 469,000 traders were liquidated in the past 24 hours, with total liquidations amounting to $2.025 billion [6] Economic Concerns - The U.S. government shutdown has reached 35 days, impacting various sectors including aviation, food assistance, and healthcare [6] - Analysts express concerns over the high valuations in the tech sector, particularly following a significant drop in AI-related stocks like Palantir, despite the company reporting record revenues [7] - Warnings have been issued regarding potential risks in the market, including high government debt, overvalued stock prices, and excessive private debt [7]

Group 1 - Qfin Holdings, Inc. (NASDAQ:QFIN) experienced a significant share price increase of 13.43% on Friday, closing at $24.15, driven by optimism surrounding Chinese stocks as a hedge against the AI bubble [1][3] - Bank of America Chief Investment Strategist Michael Hartnett highlighted that Chinese stocks and gold are the best options to hedge against the risks associated with the AI boom, particularly given the high valuations of US technology giants [2][3] - Qfin Holdings is expected to report its third quarter earnings in the second week of November 2025, with a GAAP net income target of 1.52 billion to 1.72 billion yuan and a non-GAAP net profit projection of 1.6 billion to 1.8 billion yuan, indicating a year-on-year decline of 2% to 13% [4]

Core Insights - The individual has over 10 years of experience in the stock market and retired from professional poker at age 29 to focus on investments [1] - The investment strategy emphasizes technology-driven stocks and growth at a reasonable price, particularly in up-trending markets [1] - The individual has a significant allocation to cryptocurrencies, which has contributed to outperforming broader markets in recent years [1] Investment Strategy - The approach involves strategic thinking and risk management learned from poker, applied to investment decisions [1] - The use of Seeking Alpha's Quant Algorithm and qualitative tools has refined investment choices [1] - The focus is on businesses that are attractively valued and easy to understand [1] Community Engagement - Contributing to Seeking Alpha is viewed as a privilege and a motivation to deepen investment research [1] - The individual aims to share valuable insights and give back to the investment community [1]