Qudian Inc. American Depositary Shares, each representing one - QD STOCK NEWS

Qudian Inc. (NYSE: QD) received a notification from the New York Stock Exchange on May 25, 2022, indicating that it is below compliance with minimum share price standards, as its American depositary shares traded below $1.00 for 30 consecutive days.

The company has a six-month Cure Period to regain compliance. If not achieved, suspension and delisting procedures will begin. Despite this, Qudian's daily operations and SEC reporting will not be affected. The company aims to monitor market conditions to address this issue.

On May 5, 2022, Qudian Inc. (NYSE: QD) announced it has regained compliance with the NYSE's continued listing standards after confirming its average closing price exceeded $1.00 over 30 consecutive trading days. This follows a notification from the NYSE on February 7, 2022, about its non-compliance due to the share price falling below the required threshold. Qudian, a consumer-oriented technology company in China, is also expanding its offerings, including launching a ready-to-cook meal business in March 2022.

Qudian Inc. (NYSE: QD) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on April 29, 2022. The report is available on the company's investor relations website. Qudian focuses on enhancing online consumer finance in China, providing technology-driven personalized credit solutions to young, mobile-active consumers underserved by traditional financial institutions.

Qudian Inc. (NYSE: QD) has launched a new ready-to-cook meal business called QD Food, aimed at working-class families in China. Following a trial in March 2022, over 80,000 unique users have placed orders. Pricing for QD Food items ranges from RMB12.9 to RMB44.9 before discounts. While the company expects this initiative to generate significant revenue in 2022, it anticipates initial losses due to marketing expenses. Additionally, stringent credit standards in response to regulatory uncertainties have led to a decrease in its core loan business, predicting revenue declines in upcoming quarters.

Qudian Inc. (NYSE: QD) reported its financial results for Q4 and full year 2021, showing significant declines in revenues and net income. Q4 revenues fell 46.9% to RMB378.9 million, with a net loss of RMB65.1 million compared to a profit of RMB673.9 million in Q4 2020. For the full year, revenues dropped 55.2% to RMB1.65 billion, while net income decreased 38.6% to RMB589.1 million. The company attributed the downturn to reduced transactions and conservative lending strategies. Additionally, an emphasis on credit risk management and liquidity was highlighted as Qudian adjusts to market conditions.

Qudian Inc. (NYSE: QD), a prominent online consumer finance platform in China, announced plans to significantly downsize its WLM KIDS business due to the ongoing challenges of pandemic outbreaks and education regulations. Initially launched in January 2021, WLM KIDS aimed to provide enrichment services for children, expanding to six centers by February 2022. The Company may retain one center to support existing customers, prioritizing sustainable growth and shareholder value. This strategic decision reflects Qudian's commitment to adapting its business model in the face of market uncertainties.

Qudian Inc. (NYSE: QD) received a notice from the NYSE on February 7, 2022, stating it is below compliance with continued listing standards due to its American depositary shares trading below $1.00 for 30 consecutive days. The company has a six-month Cure Period to regain compliance by achieving a closing price of at least $1.00. Qudian plans to monitor market conditions and has informed the NYSE of its intent to cure the deficiency. This notification does not impact the company's operations or SEC reporting requirements.

Qudian Inc. (NYSE: QD) announced that founder and CEO Min Luo intends to purchase up to US$10 million of the company's American depository shares (ADSs) over the next 12 months. This move is seen as a vote of confidence in Qudian's business potential, with Luo highlighting the undervaluation of the stock and the company's solid balance sheet. The purchases will comply with legal regulations and will depend on market conditions. Qudian focuses on enhancing online consumer finance in China, making credit accessible to young consumers.

Qudian Inc. (NYSE: QD) reported its financial results for Q3 2021, revealing total revenues of RMB347.4 million, down 59.1% from RMB849.4 million in Q3 2020. The net loss attributable to shareholders was RMB94.2 million, contrasting sharply with a profit of RMB592.3 million in the prior year. Key operational metrics showed a 3.1% decline in outstanding borrowers and a 14.4% reduction in total outstanding loan balance to RMB3.0 billion. The company emphasized a prudent operational strategy while expressing confidence in future growth despite current challenges.