Futu News reported on May 21 that it released impressive financial reports after the last trading day$360 Finance (QFIN.US) $The stock price continued to rise after opening 8% higher. At one point, it reached 14.3%. At the time of press release, it was reported at 18.6 US dollars, an increase of 13.21%, and the transaction volume was close to one million US dollars.

According to financial data, 360 Financial's total net revenue for the first quarter was 2,009 billion yuan (about 299.3 million US dollars), an increase of 235% over the previous year, mainly due to the increase in loan facilitation service fees, post-loan service fees and other service fees associated with increased loan disbursements. Net profit was 719.9 million yuan (about 107.3 million US dollars), an increase of 340% over the previous year.

Mr. Jiang Wu, chief financial officer of 360 Finance, said, “Despite the long Spring Festival holiday, we had a good start to the year, achieved good financial and operating results, and the year-on-year and quarterly growth was impressive. Given the attractive return on investment for borrowers, we decided to further invest in customer acquisitions by increasing sales and marketing expenses to strengthen our position in the market and ensure continued growth over the long term. At the same time, we are still able to maintain good operational efficiency, with a non-GAAP operating margin of 46.2%.”