Qfin Holdings Inc. (NASDAQ:QFIN) is one of the 9 Stocks With Unbelievable Gains.
Qfin Holdings saw its share prices climb by 25.02 percent to close at $15.74 apiece, as investors took heart from its stellar performance in the first quarter of the year, with profits more than doubling.
In an updated report, Qfin Holdings Inc. said that it was able to grow its net income attributable to shareholders by 104 percent to 1.8 billion yuan from 883 million yuan in the same period last year. Total revenues increased by 20 percent to 4.69 billion yuan from 3.9 billion yuan year-on-year.
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“In the first quarter, the industry continued to undergo deep adjustments while regulations tightened further. Yet we withstood the pressure. Through proactive efforts to tighten our credit standards, optimize our loan portfolio, and streamline operations, we demonstrated strong resilience, achieving improved risk performance and other operational metrics. More importantly, as we expand our user base to serve more high-quality customers, we are building a more sustainable business model capable of navigating cycles,” Qfin Holdings Inc. CEO Haisheng Wu said.
“Looking ahead, near-term uncertainties are likely to persist, and industry participants continue to adjust operations to reflect the changing regulatory environment. However, as the industry landscape reshapes, we believe the entire ecosystem of the consumer finance market will become healthier and more efficient, which should be more conducive to our long-term development,” he noted.
For the second quarter, Qfin Holdings Inc. expects net income to end at 830 million to 910 million yuan, and non-GAAP net income of 900 million to 980 million yuan, or an implied decline of 47 to 51 percent year-on-year.
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