Qudian Inc. Reports Second Quarter 2025 Unaudited Financial Results

, /PRNewswire/ -- Qudian Inc. ("Qudian" or "the Company" or "We") (NYSE: QD), a consumer-oriented technology company in China, today announced its unaudited financial results for the quarter ended June 30, 2025. Second Quarter 2025 Financial Highlights: Total revenues were RMB3.5 million (US$0.5 million), compared to RMB53.3 million for the same period of last year Net income attributable to Qudian's shareholders was RMB311.8 million (US$43.5 million), compared to RMB99.8 million for the same period of last year; net income per diluted ADS was RMB1.86 (US$0.26) for the second quarter of 2025 After careful evaluation, the Company has decided to wind down its last-mile delivery business. This decision is in the best interest of the Company and aligned with the commitment to achieve sustainable growth and create shareholder value. Moving forward, the Company expects to remain steadfast in its commitment to executing its business transition and simultaneously maintaining prudent cash management to safeguard its balance sheet. Second Quarter Financial Results Sales income and others decreased by 93.5% to RMB3.5 million (US$0.5 million) from RMB53.3 million for the second quarter of 2024, which was primarily due to the decrease in sales income generated from last-mile delivery business as a result of the increased competition in the industry. The Company has decided to wind down its last-mile delivery business. Total operating costs and expenses increased to RMB117.7 million (US$16.4 million) from RMB110.8 million for the second quarter of 2024. Cost of revenues decreased by 93.6% to RMB3.0 million (US$0.4 million) from RMB46.2 million for the second quarter of 2024, primarily due to the decrease in service cost related to last-mile delivery business with the winding down of the business. General and administrative expenses increased by 39.6% to RMB65.9 million (US$9.2 million) from RMB47.2 million for the second quarter of 2024, primarily due to the increase in depreciation and property tax expenses following the completion of the construction of the Company's headquarters. Research and development expenses decreased by 25.5% to RMB11.3 million (US$1.6 million) from RMB15.2 million for the second quarter of 2024, as a result of the decrease in staff head count, which led to a corresponding decrease in staff salaries. Loss from operations was RMB113.9 million (US$15.9 million), compared to RMB57.4 million for the second quarter of 2024, mainly due to the winding down of the Company's businesses and the increase in depreciation and property tax expenses following the completion of the construction of the Company's headquarters. Interest and investment income, net increased by 392.3% to RMB440.5 million (US$61.5 million) from RMB89.5 million for the second quarter of 2024, mainly attributable to the increase of income from investments in the second quarter of 2025. Gain on derivative instrument was RMB30.2 million (US$4.2 million), compared to RMB58.4 million for the second quarter of 2024. The gain was mainly attributable to the increase in quoted price of the underlying equity securities relating to the derivative instruments we held. Net income attributable to Qudian's shareholders was RMB311.8 million (US$43.5 million), compared to RMB99.8 million in the second quarter of 2024. Net income per diluted ADS was RMB1.86 (US$0.26). Cash Flow As of June 30, 2025, the Company had cash and cash equivalents of RMB4,029.0 million (US$562.4 million) and restricted cash of RMB782.3 million (US$109.2 million). Restricted cash mainly represents security deposits held in designated bank accounts for the guarantee of short-term borrowings. Such restricted cash is not available to fund the general liquidity needs of the Company. For the second quarter of 2025, net cash used in operating activities was RMB1.1 million (US$0.2 million), mainly due to payments for labor-related and other general expenses. Net cash used in investing activities was RMB698.2 million (US$97.5 million), mainly due to the purchase of short-term investments. Net cash used in financing activities was RMB81.3 million (US$11.3 million), mainly due to the repurchase of ordinary shares. Update on Share Repurchase Our Board approved a share repurchase program in March 2024 to purchase up to US$300 million worth of Class A ordinary shares or ADSs in the next 36 months starting from June 13, 2024. From the launch of the share repurchase program on June 13, 2024 to August 12, 2025, the Company has in aggregate purchased 22.7 million ADSs in the open market for a total amount of approximately US$54.6 million (an average price of $2.4 per ADS) pursuant to the share repurchase program. As of August 12, 2025, the Company had in aggregate purchased 177.0 million ADSs for a total amount of approximately US$748.8 million (an average price of $4.2 per ADS). About Qudian Inc. Qudian Inc. ("Qudian") is a consumer-oriented technology company. The Company historically focused on providing credit solutions to consumers. Qudian is exploring innovative business opportunities to satisfy consumers' demand by leveraging its technology capabilities. For more information, please visit http://ir.qudian.com. Use of Non-GAAP Financial Measures We use Non-GAAP net income/loss attributable to Qudian's shareholders, a Non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. We believe that Non-GAAP net income/loss attributable to Qudian's shareholders helps identify underlying trends in our business by excluding the impact of share-based compensation expenses, which are non-cash charges. We believe that Non-GAAP net income/loss attributable to Qudian's shareholders provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Non-GAAP net income/loss attributable to Qudian's shareholders is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This Non-GAAP financial measure has limitations as an analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider them in isolation, or as a substitute for net loss /income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. We mitigate these limitations by reconciling the Non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating our performance. For more information on this Non-GAAP financial measure, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Statement Regarding Preliminary Unaudited Financial Information The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company's year-end audit, which could result in significant differences from this preliminary unaudited financial information. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the expectation of its collection efficiency and delinquency, contain forward-looking statements. Qudian may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Qudian's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Qudian's goal and strategies; Qudian's expansion plans; Qudian's future business development, financial condition and results of operations; Qudian's expectations regarding demand for, and market acceptance of, its products; Qudian's expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Qudian's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Qudian does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China:Qudian Inc.Tel: +86-592-596-8208E-mail: [email protected] QUDIAN INC. Unaudited Condensed Consolidated Statements of Operations Three months ended June 30, (In thousands except for number 2024 2025 of shares and per-share data) (Unaudited) (Unaudited) RMB RMB US$ Revenues: Sales income and others 53,328 3,490 487 Total revenues 53,328 3,490 487 Operating cost and expenses: Cost of revenues (46,248) (2,956) (413) Sales and marketing (1,054) (671) (94) General and administrative (47,165) (65,853) (9,193) Research and development (15,219) (11,331) (1,582) (Provision for)/Reversal of expected credit losses on receivables and other assets (751) 270 38 Impairment loss from other assets (387) (37,148) (5,186) Total operating cost and expenses (110,824) (117,689) (16,430) Other operating income 119 330 46 Loss from operations (57,377) (113,869) (15,897) Interest and investment income, net 89,485 440,506 61,492 Gain/(Loss) from equity method investments 820 (1,005) (140) Gain on derivative instruments 58,376 30,212 4,217 Foreign exchange loss, net (1,186) (11,343) (1,583) Other income 714 1,229 172 Other expenses (342) (447) (62) Net income before income taxes 90,490 345,283 48,199 Income tax expenses 9,297 (33,521) (4,679) Net income 99,787 311,762 43,520 Net income attributable to Qudian Inc.'s shareholders 99,787 311,762 43,520 Earning per share for Class A and Class B ordinary shares: Basic 0.54 1.92 0.27 Diluted 0.53 1.86 0.26 Earning per ADS (1 Class A ordinary share equals 1 ADSs): Basic 0.54 1.92 0.27 Diluted 0.53 1.86 0.26 Weighted average number of Class A and Class B ordinary shares outstanding: Basic 184,571,121 162,649,164 162,649,164 Diluted 189,684,527 167,456,506 167,456,506 Other comprehensive gain/(loss): Foreign currency translation adjustment 14,489 (11,908) (1,662) Total comprehensive income 114,276 299,854 41,858 Total comprehensive income attributable to Qudian Inc.'s shareholders 114,276 299,854 41,858 QUDIAN INC. Unaudited Condensed Consolidated Balance Sheets As of March 31, As of June 30, (In thousands except for number 2025 2025 of shares and per-share data) (Unaudited) (Unaudited) RMB RMB US$ ASSETS: Current assets: Cash and cash equivalents 4,822,853 4,028,995 562,426 Restricted cash and cash equivalents 782,169 782,251 109,198 Time and structured deposit 2,203,627 1,758,770 245,515 Derivative instruments-asset 18,139 38,793 5,415 Short-term investments 1,430,652 2,850,688 397,941 Accounts receivables 15,068 9,225 1,288 Other current assets 1,098,972 925,915 129,253 Total current assets 10,371,480 10,394,637 1,451,036 Non-current assets: Right-of-use assets 123,731 101,715 14,199 Investment in equity method investee 146,012 144,822 20,216 Long-term investments 78,987 78,616 10,974 Property and equipment, net 1,584,931 1,747,669 243,965 Intangible assets 2,064 1,922 268 Other non-current assets 345,448 280,115 39,102 Total non-current assets 2,281,173 2,354,859 328,724 TOTAL ASSETS 12,652,653 12,749,496 1,779,760 QUDIAN INC. Unaudited Condensed Consolidated Balance Sheets (Continued) As of March 31, As of June 30, (In thousands except for number 2025 2025 of shares and per-share data) (Unaudited) (Unaudited) RMB RMB US$ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term borrowings 720,000 720,000 100,508 Short-term lease liabilities 13,015 7,352 1,026 Derivative instruments-liability 129,436 - - Accrued expenses and other current liabilities 377,375 371,442 51,851 Income tax payable 33,313 39,383 5,498 Total current liabilities 1,273,139 1,138,177 158,883 Non-current liabilities: Deferred tax liabilities - 27,427 3,829 Long-term lease liabilities 20,795 5,126 716 Total non-current liabilities 20,795 32,553 4,545 Total liabilities 1,293,934 1,170,730 163,428 Shareholders' equity: Class A Ordinary shares 132 132 18 Class B Ordinary shares 44 44 6 Treasury shares (1,491,531) (1,571,141) (219,323) Additional paid-in capital 4,025,406 4,025,209 561,897 Accumulated other comprehensive profit/(loss) 4,444 (7,464) (1,042) Retained earnings 8,820,224 9,131,986 1,274,776 Total equity 11,358,719 11,578,766 1,616,332 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 12,652,653 12,749,496 1,779,760 QUDIAN INC. Unaudited Reconciliation of GAAP And Non-GAAP Results Three months ended June 30, 2024 2025 (In thousands except for number (Unaudited) (Unaudited) of shares and per-share data) RMB RMB US$ Total net income attributable to Qudian Inc.'s shareholders 99,787 311,762 43,520 Add: Share-based compensation expenses 1 - - Non-GAAP net income attributable to Qudian Inc.'s shareholders 99,788 311,762 43,520 Non-GAAP net income per share—basic 0.54 1.92 0.27 Non-GAAP net income per share—diluted 0.53 1.86 0.26 Weighted average shares outstanding—basic 184,571,121 162,649,164 162,649,164 Weighted average shares outstanding—diluted 189,684,527 167,456,506 167,456,506 SOURCE Qudian Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Qudian Inc. Reports Second Quarter 2025 Unaudited Financial Results

FAQ

Why Bullish?

How important is it?

Why Short Term?

Related Companies

Related News