360 DigiTech, Inc. Class A (HK:3660) has released an update.
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Qifu Technology, a major Credit-Tech platform in China, reported its unaudited financial results for the third quarter of 2024, highlighting significant growth in user engagement and a new $450 million share repurchase plan for 2025. Despite a decline in total loan facilitation volume compared to the previous year, the company saw an increase in cumulative users with approved credit lines and successful loan drawdowns. The strategic share repurchase plan aims to enhance shareholder value amidst these evolving market dynamics.
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