Qifu Technology reported robust Q3 2024 financial results, with total net revenue reaching RMB4.37 billion and non-GAAP net income of RMB1.83 billion. The company saw improvements in net take rates, risk management, and funding costs. Non-credit risk bearing loans accounted for nearly 55% of total volume, while the 90-day+ delinquency rate was 2.72%.The board approved a new $450 million share repurchase plan for 2025, demonstrating commitment to shareholder returns. As of November 19, 2024, the company had repurchased about 13.7 million ADSs for $298 million under its current $350 million plan. Qifu Technology ended Q3 with RMB9.77 billion in cash and equivalents.For Q4 2024, the company expects net income between RMB1.75-1.85 billion and non-GAAP net income between RMB1.80-1.90 billion, representing 57-65% YoY growth. Management remains cautious amid macro uncertainties but sees potential long-term opportunities in the credit-tech industry.

Qifu Technology reported robust Q3 2024 financial results, with total net revenue reaching RMB4.37 billion and non-GAAP net income of RMB1.83 billion. The company saw improvements in net take rates, risk management, and funding costs. Non-credit risk bearing loans accounted for nearly 55% of total volume, while the 90-day+ delinquency rate was 2.72%.The board approved a new $450 million share repurchase plan for 2025, demonstrating commitment to shareholder returns. As of November 19, 2024, the company had repurchased about 13.7 million ADSs for $298 million under its current $350 million plan. Qifu Technology ended Q3 with RMB9.77 billion in cash and equivalents.For Q4 2024, the company expects net income between RMB1.75-1.85 billion and non-GAAP net income between RMB1.80-1.90 billion, representing 57-65% YoY growth. Management remains cautious amid macro uncertainties but sees potential long-term opportunities in the credit-tech industry.