Qudian (QD.US) released its financial report for the first quarter of 2024 on June 13th. The total revenue for the first quarter of 2024 was RMB 55.8 million, an increase of 155.5% year-on-year. Under the Non-General Accounting Principles (non-GAAP), the net loss attributable to Qudian shareholders was RMB 73.5 million, compared to RMB 416 million in the same period last year; The diluted loss per share for the first quarter of 2024 was RMB 0.38. As of March 31, 2024, the company held RMB 7.04 billion in cash and cash equivalents and RMB 53.6 million in restricted cash.

In terms of business, in response to the surge in demand for cross-border e-commerce transactions, the company actively seeks innovative logistics services and solutions to meet global consumers' expectations for fast and first-class delivery services. In December 2022, the company launched its last mile delivery service under the brand name "Fast Horse". The business was initially introduced as a pilot and gradually achieved significant scale in Australia in the second quarter of 2023. As of the date of this announcement, the company's last mile delivery service is available in Australia and New Zealand.

"We are pleased to announce that we have made exciting progress in our intelligent last mile delivery business, which achieved revenue of approximately RMB 53.8 million in the first quarter of 2024, compared to RMB 3 million in the first quarter of 2023," said Luo Min, founder, chairman, and CEO of Qudian. "Looking ahead, we will continue to steadfastly execute our business transformation while maintaining prudent cash management to protect our balance sheet."