Qifei Technology (03660) financial report for the second quarter of 2025: revenue of 5.2 billion yuan, a quarter-on-quarter increase of 11.2%.

On August 15, Qifu Technology. Inc ADR Class A (NASDAQ: QFIN.US; HKEX: 03660) released its second quarter financial report for 2025. The report shows that the company, in a complex and ever-changing macroeconomic environment, demonstrated strong risk resistance and business resilience through measures such as optimizing risk control systems, expanding diverse funding channels, and deepening embedded financial layouts. As of June 30, 2025, Qifu Technology. Inc ADR Class A platform has served a total of 165 Financial Institutions, Inc., with a registered user base of 276 million, an 11.4% year-on-year increase. The cumulative number of credit users has increased to 60.2 million, a 12.3% year-on-year increase, and the cumulative number of borrowing users has also reached 36.8 million, a 14.9% year-on-year increase. In the second quarter, the platform facilitated loans totaling 84.6 billion yuan, a 16% year-on-year increase, with an outstanding loan balance at the end of the quarter of 140.1 billion yuan. In the second quarter, Qifu Technology. Inc ADR Class A continued to expand its diverse customer acquisition channels, covering various scenes such as short videos, e-commerce, transportation, and food delivery through embedded financial links with a wide range of internet scenarios, providing users with a convenient and seamless loan experience. More than half of the new credit users came from embedded financial partners, and the volume of loans from this channel continued to grow. This quarter saw a 40% year-on-year increase in new credit users at 1.79 million, with a slight improvement in unit credit costs compared to the previous quarter. There were 1.23 million new borrowing users, a year-on-year increase of about 60%. The number of new credit users from embedded financial channels increased by 103% year-on-year, and the loan volume increased by approximately 155%. In terms of financial performance, Qifu Technology. Inc ADR Class A's second-quarter revenue reached 5.2 billion yuan, an 11.2% increase from the previous quarter and a 25.4% increase year-on-year. Non-GAAP net profit was 1.85 billion yuan. CEO and director of Qifu Technology. Inc ADR Class A, Wu Haisheng, stated that the escalating international trade tensions at the beginning of the quarter increased the uncertainty of the economic environment, prompting tighter risk control measures to deal with the uncertain situation. In the second half of this year, we will continue to maintain caution in business planning, focusing on enhancing the quality and sustainability of our business. Despite some industry assets facing liquidity constraints, our ABS issuance reached a new high this quarter, and overall funding costs continued to decline. While macro challenges and uncertainties persist, our business remains stable and resilient. At the same time, we will continue to invest more resources in advancing AI applications in our credit service chain to provide users and institutions with higher quality and more efficient services. We believe that these measures will help us better navigate the current macro environment and seize long-term development opportunities through technological innovation, product upgrades, and collaborative efforts. CFO Xu Zuoli added that despite the continuously changing and uncertain macro environment, we are pleased to once again achieve solid financial performance. In the second quarter, total revenue was 52.2 billion yuan, and non-GAAP net profit was 18.5 billion yuan. Cash flow from operations reached approximately 26.2 billion yuan during the quarter. While maintaining steady performance, we prudently assess potential operational risks. In the second quarter, the provision for new loans approached historical highs to reflect changes in the market environment.