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Overview of Qudian Inc.
Qudian Inc. is a consumer-oriented technology company that specializes in delivering online credit solutions and innovative financial technology services in the People's Republic of China. Leveraging a robust online platform, Qudian has crafted a unique business model that combines small consumer credit products with cutting-edge digital solutions to enhance both customer access and financial institutions' operational efficiency. The company has expanded its service offerings beyond traditional credit by exploring innovative logistics and last-mile delivery services across the region, thus addressing the growing demand in cross-border e-commerce.
Core Business and Operational Focus
The fundamental value proposition of Qudian lies in its ability to connect consumers with credit products efficiently and securely. By integrating advanced data analytics and proprietary technology, the company empowers financial institutions to optimize marketing strategies and streamline operations. Qudian's service ecosystem is designed to facilitate easy access to credit while ensuring that diverse financial products are connected to scene traffic across the entire network, helping to bridge the gap between consumers' evolving needs and financial service delivery.
Innovative Technology and Service Expansion
At its core, the company utilizes innovative digital platforms and advanced algorithms to cater to a wide demographic, including university students and young professionals. Historically focused on credit solutions, Qudian has dynamically adapted its business model by incorporating a smart last-mile delivery operation that complements its credit services. This dual approach not only reinforces its market position in consumer finance but also speaks to its broader involvement in e-commerce logistics and technology-driven retail innovations.
Market Position and Competitive Landscape
Qudian operates in a highly competitive yet continuously evolving market characterized by intense technological innovations in financial services and e-commerce logistics. While facing stiff competition from both traditional financial institutions and emerging fintech startups, Qudian differentiates itself through the robust integration of its credit offering with logistical solutions that draw on both online and offline modalities. This distinctive positioning places the company at a strategic advantage in catering to a digitally-savvy consumer base in China, with a keen focus on operational efficiency, customer satisfaction, and technological agility.
Customer Base and Business Model
With a significant focus on the Chinese market, Qudian serves a broad spectrum of consumers, including college students and young urban professionals seeking flexible payment solutions and consumer financing options. Its business model is built on a multi-faceted revenue structure, which includes income from credit services as well as innovative ventures in last-mile logistics. This streamlined model is supported by a commitment to maintaining a strong balance sheet and ensuring prudent cash management, which enhances both operational stability and long-term sustainability.
Technological Expertise and Financial Integration
Fundamental to Qudian's operations is its emphasis on technological innovation. The company employs data analytics, digital marketing, and advanced algorithmic systems to bolster its credit offerings and to facilitate the efficient matching of financial products with consumer demand. Its recent ventures into last-mile delivery not only showcase the company's adaptability but also underline its dedication to integrating technology with traditional financial services to create comprehensive, consumer-friendly solutions.
Conclusion
In summary, Qudian Inc. exemplifies the integration of technology and finance within a rapidly changing market environment. Its dual focus on consumer credit and innovative last-mile services illustrates a commitment to meeting modern consumer needs while fostering enhanced operational efficiencies for financial institutions. As such, Qudian remains a significant player in China's digital finance and e-commerce logistics sectors, continuing to evolve and adapt in a competitive landscape.
Qudian Inc. (NYSE: QD), a consumer-oriented technology company, has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission on April 23, 2025.
The report is accessible through the company's investor relations website at http://ir.qudian.com. Shareholders and ADS holders can request a free hard copy of the annual report containing audited consolidated financial statements by contacting the Investor Relations department at the company's headquarters in Xiamen, China.
Qudian (NYSE: QD) has released its Q4 and full-year 2024 financial results. For Q4 2024, total revenues declined to RMB52.2 million (US$7.2 million) from RMB63.8 million year-over-year, with a net loss of RMB66.4 million. The company's last-mile delivery business faced intense competition, with revenue dropping to RMB50.3 million in Q4.
For full-year 2024, total revenues increased by 71.3% to RMB216.4 million, primarily due to growth in the last-mile delivery business. The company reported net income of RMB91.7 million, up from RMB39.1 million in 2023. As of December 31, 2024, Qudian maintained strong liquidity with RMB4,263.3 million in cash and cash equivalents.
The company continues its share repurchase program, having bought back 17.8 million ADSs at an average price of $2.3 per ADS since June 2024, totaling US$41.2 million.
Qudian Inc. (NYSE: QD) announced the appointment of Marcum Asia CPAs LLP as its new independent registered public accounting firm. This change follows a brief appointment of BDO China Shu Lun Pan Certified Public Accountants LLP on September 6, 2024, which was revoked due to BDO's internal resource constraints affecting their ability to meet the Company's audit timeline.
The appointment of Marcum Asia, succeeding Ernst & Young Hua Ming LLP (EY), was approved by Qudian's Audit Committee after careful consideration. The company confirms there were no disagreements with BDO on accounting principles, financial statement disclosure, or auditing procedures. During fiscal years ended December 31, 2023, and the period until January 31, 2025, there were no consultations with Marcum Asia on accounting principles or audit matters. Qudian is working with both EY and Marcum Asia to ensure a smooth transition.
Qudian Inc. (NYSE: QD) reported its Q3 2024 financial results with total revenues of RMB55.0 million (US$7.8 million), an 85.9% increase from Q3 2023. The company achieved net income of RMB131.9 million (US$18.8 million), compared to a net loss of RMB181.2 million in the same period last year. The last-mile delivery business, operating under the brand 'Fast Horse', generated RMB53.5 million in revenue, up from RMB28.6 million in Q3 2023. The company maintains strong liquidity with cash and cash equivalents of RMB4,847.0 million and has continued its share repurchase program, buying back 12.1 million ADSs at an average price of $2.1 per ADS.
Qudian Inc. (NYSE: QD), a consumer-oriented technology company, has announced a change in its independent auditor. The company has appointed BDO China Shu Lun Pan Certified Public Accountants LLP as its new auditor, effective September 6, 2024. This decision replaces Ernst & Young Hua Ming LLP (EY) and was approved by Qudian's Audit Committee and Board of Directors.
The change was not due to any disagreements with EY, and EY's previous audit reports for 2022 and 2023 were unqualified. Qudian affirmed that there were no reportable events or disagreements with EY during the audited periods. The company also confirmed that it had not consulted with BDO on any accounting or auditing matters prior to their engagement.
Qudian Inc. (NYSE: QD) reported its Q2 2024 unaudited financial results, showing significant improvements. Total revenues increased to RMB53.3 million (US$7.3 million), up from RMB11.1 million in Q2 2023. The company achieved a net income of RMB99.8 million (US$13.7 million), compared to a net loss of RMB76.9 million in the same period last year. Earnings per diluted ADS reached RMB0.53 (US$0.07).
Qudian's last-mile delivery business, launched under the brand name 'Fast Horse', has shown steady progress, generating RMB46.2 million in revenue in Q2 2024, a substantial increase from RMB4.3 million in Q2 2023. The service is now available in Australia and New Zealand.
The company continues its share repurchase program, having bought back 68.6 million ADSs for about US$121 million since June 2022.
Qudian Inc. (NYSE: QD) reported its first-quarter 2024 unaudited financial results. The company achieved total revenues of RMB55.8 million (US$7.7 million), a significant increase from RMB21.9 million in Q1 2023.
However, Qudian experienced a net loss attributable to shareholders of RMB73.6 million (US$10.2 million), compared to a net income of RMB414.3 million in the same period last year. The net loss per diluted ADS was RMB0.38 (US$0.05).
Operating costs rose to RMB128.4 million (US$17.8 million), primarily due to increased costs in last-mile delivery and higher general and administrative expenses due to staff expansion. The company's cash and cash equivalents stand at RMB7,040.0 million (US$975.0 million).
Qudian continues to expand its last-mile delivery business, generating RMB53.8 million in revenue, up from RMB0.3 million in Q1 2023. The company has also announced a new US$300 million share repurchase program, set to begin in June 2024.
Qudian Inc., a consumer-oriented technology company, announced changes to its Board of Directors, with Mr. David Cui replacing Mr. Shengwen Rong. Mr. Cui brings extensive financial and public accounting experience to the company, having served in various CFO roles and as a director of leading companies. The appointment aims to strengthen the Board's expertise and governance.
Qudian Inc. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission. The report can be accessed on the company's investor relations website. Shareholders and ADS holders can request a hard copy of the report free of charge. Qudian is a consumer-oriented technology company listed on NYSE under the ticker symbol QD.
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