Qudian contemplating winding down last-mile delivery business

The company said, “In December 2022, the Company launched its last-mile delivery services under the brand name of “Fast Horse” to capitalize on the logistics demand for cross-border e-commerce transactions. The business was initially launched on a trial basis and has gradually achieved meaningful scale in Australia during the second quarter of 2023. As of the date of this release, the Company’s last-mile delivery service is encountering intense competition and uncertainty. After assessing current market conditions, the Company is contemplating winding down its last-mile delivery business. The Company intends to continue exploring innovative business opportunities to satisfy consumers’ demand by leveraging its technology capabilities.”