Qudian Inc. Faces Net Loss Despite Revenue Jump

Qudian (QD) has released an update.

Qudian Inc., a consumer technology company in China, reported a significant increase in revenues to RMB55.8 million in the first quarter of 2024, up from RMB21.9 million in the previous year, largely thanks to its new last-mile delivery business. Despite the revenue growth, the company faced a net loss of RMB73.6 million, contrasting with a net income of RMB414.3 million a year earlier, due to higher operating costs and investments in research and development. The firm also highlighted the expansion of its last-mile delivery service in Australia and New Zealand, and the approval of a new share repurchase program.

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