QFIN Latest Report

Key Financial Data

1. QFIN's operating revenue totaled USD44.823 million as of December 31, 2024, a slight decrease of 0.29% from USD44.955 million in the same period of 2023. Although there was a decline, the overall revenue level remained close to the same period last year, showing a certain market stability.

2. In terms of market demand, QFIN's registered user count increased to 247.6 million in the first half of 2024, with revenue reaching RMB8.313 billion, up 10.65% YoY. This data indicates that market demand remains favorable, despite the decline in operating revenue.

3. The company adjusted its brand and product line in 2024, marking a strategic shift. Through innovative solutions, QFIN achieved the intelligent and personalized development of its products.

4. The macroeconomic environment had a significant impact on the company, with the overall technology industry facing challenges, especially in the context of economic slowdown, where many companies reported weak revenue growth.

Peer Comparison

1. Industry-wide analysis: In 2024, the overall technology industry faced challenges in operating revenue, especially in the context of economic slowdown, where many companies reported weak revenue growth. This indicates the industry's sensitivity to market conditions and the potential impact of consumer confidence on overall revenue levels.

2. Peer evaluation analysis: Although QFIN's operating revenue decreased YoY, it showed relative stability. However, the performance of other companies in the industry needs to be monitored. Among them, Guanglian Aviation's operating revenue decreased by 7.29%, while Aerospace Rainbow had a 10.22% increase. This indicates that QFIN's relative position in the competition needs further assessment.

Conclusion

QFIN's operating revenue decline is closely related to market demand fluctuations, intensified competition, and macroeconomic uncertainties. Although overall revenue has decreased, the company's positive trends in user growth and product innovation reflect its ability to adjust strategies and adapt to the market.

Opportunities

1. The continuous improvement in market demand, with registered user count and revenue growth, indicates the company's potential to further enhance its market share.

2. The intelligent and personalized adjustments in the product line may attract more customers and enhance user experience.

3. The overall upward trend in the technology industry can provide QFIN with more cooperation and development opportunities, especially in AI application scenarios.

Risks

1. Intensified industry competition may further compress profit margins and affect the company's revenue growth.

2. Macroeconomic uncertainties may affect consumer spending, which in turn may impact the company's sales performance.

3. Although the company is adjusting its product line, failure to effectively attract new customers may lead to a continuous decline in revenue.