The earnings call reflected a strong performance in Q3 with record profitability, improved asset quality, and successful expansion of the capital-light segment. Despite these positive aspects, there are concerns about macroeconomic uncertainties and a decline in certain revenue streams. Overall, the company's strategic initiatives and financial results lean towards a positive sentiment.

Company Guidance

During Qifu Technology's Q3 2024 earnings call, the company reported a record non-GAAP net income of RMB 1.83 billion, marking a 29.1% sequential and 54.5% year-over-year increase. Key operational metrics included a 13.1% sequential rise in total loan facilitation and origination volume, excluding contributions from risk management SaaS services, and a 34.8% sequential increase in non-GAAP net income per diluted ADS to RMB 12.4. The company's return on equity (ROE) improved to 32.2%, and the 30-day collection rate reached its highest level since 2022, increasing by 1.1 percentage points. Additionally, Qifu Technology reported a 0.2 percentage point sequential decline in the D1 delinquency rate and a 30 basis point sequential reduction in funding costs. The company also highlighted the issuance of RMB 3.5 billion in asset-backed securities (ABS) during the quarter, contributing to a total ABS issuance of RMB 13.4 billion for the first nine months of 2024.

Record Profitability in Q3

Non-GAAP net income reached an all-time high of RMB 1.83 billion, an increase of 29.1% sequentially and 54.5% year-over-year.

Loan Facilitation and Origination Growth

Total loan facilitation and origination volume increased by 13.1% sequentially, driven by improvements in risk metrics and operational efficiency.

Capital-Light Segment Expansion

The capital-light segment contributed 55% of total loan facilitation and origination volume in Q3, an increase of approximately 10 percentage points from the same period last year.

Improved Asset Quality

D1 delinquency rate fell by 0.2 percentage points sequentially, and the 30-day collection rate increased by 1.1 percentage points to the highest level since 2022.

Successful Share Repurchase Plan

Completed the majority of a USD 350 million share repurchase plan for 2024, with a new USD 450 million plan approved for 2025.

Increased New User Acquisition

New credit line users increased by 23.8% sequentially, while average unit acquisition cost declined by 7.4%.

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Qifu Technology (QFIN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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QFIN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 19, 2019	2018 (Q4)	- / 0.27	<0.001	32900.00% (+0.27)	―	―
May 20, 2019	2019 (Q1)	- / 0.33	-0.008	4100.00% (+0.34)	―	―
Aug 23, 2019	2019 (Q2)	- / 0.28	-0.077	461.70% (+0.36)	―	―
Nov 27, 2019	2019 (Q3)	- / 0.33	0.014	2233.33% (+0.32)	―	―
Mar 27, 2020	2019 (Q4)	- / 0.20	0.27	-27.78% (-0.08)	―	―
May 28, 2020	2020 (Q1)	- / 0.08	0.328	-74.58% (-0.24)	―	―
Aug 23, 2020	2020 (Q2)	- / 0.79	0.278	182.35% (+0.51)	―	―
Nov 19, 2020	2020 (Q3)	- / 1.09	0.334	225.71% (+0.75)	―	―
Mar 15, 2021	2020 (Q4)	- / 1.05	0.195	439.86% (+0.86)	―	―
May 27, 2021	2021 (Q1)	0.70 / 1.15	0.083	1283.61% (+1.07)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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QFIN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 19, 2024	$32.36	$35.25	+8.93%
Aug 13, 2024	$20.67	$23.21	+12.29%
Mar 12, 2024	$15.51	$17.47	+12.64%
Nov 16, 2023	$14.74	$16.05	+8.89%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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