Qifu Technology has issued a comprehensive response to Grizzly Research's short seller report, stating the allegations are without merit and contain inaccurate information. The company clarified that its major operating entities in China reported total revenues of RMB 17.0B in 2022 and RMB 16.0B in 2023, with net profits of RMB 5.2B and RMB 4.7B respectively under PRC GAAP.The company emphasized its strong financial position, having spent over $300M on ADS repurchases and distributed approximately $180M in cash dividends in 2024. It maintains a healthy leverage ratio of 2.4 as of June 30, 2024, with risk-bearing loans accounting for 34.2% of total loan balances. The company's cash decrease from RMB 10.5B to RMB 8.4B between December 2022 and June 2024 was attributed to on-balance sheet loan growth and shareholder returns.The company also addressed various allegations regarding its regional headquarters, relationship with Shanghai Qibutianxia, and loan interest rates. The Board, including the audit committee, is reviewing the allegations and considering appropriate actions to protect shareholder interests. The company reaffirmed its commitment to maintaining high standards of corporate governance and transparent disclosure.

Qifu Technology has issued a comprehensive response to Grizzly Research's short seller report, stating the allegations are without merit and contain inaccurate information. The company clarified that its major operating entities in China reported total revenues of RMB 17.0B in 2022 and RMB 16.0B in 2023, with net profits of RMB 5.2B and RMB 4.7B respectively under PRC GAAP.The company emphasized its strong financial position, having spent over $300M on ADS repurchases and distributed approximately $180M in cash dividends in 2024. It maintains a healthy leverage ratio of 2.4 as of June 30, 2024, with risk-bearing loans accounting for 34.2% of total loan balances. The company's cash decrease from RMB 10.5B to RMB 8.4B between December 2022 and June 2024 was attributed to on-balance sheet loan growth and shareholder returns.The company also addressed various allegations regarding its regional headquarters, relationship with Shanghai Qibutianxia, and loan interest rates. The Board, including the audit committee, is reviewing the allegations and considering appropriate actions to protect shareholder interests. The company reaffirmed its commitment to maintaining high standards of corporate governance and transparent disclosure.