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Leidi Network, Lei Jianping, March 18
The credit technology platform Qifu Tech (NASDAQ: QFIN; Hong Kong Stock Exchange: 3660) today announced its unaudited financial results for the fourth quarter and the full year ending December 31, 2025, and declared an interim dividend. The financial report shows that Qifu Tech's revenue for 2025 was 19.2 billion yuan (approximately 2.746 billion USD), an increase of 11.85% compared to 17.166 billion yuan in the same period last year.
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Qifu Tech's operating profit for 2025 was 6.678 billion yuan (approximately 955 million USD), compared to an operating profit of 7.529 billion yuan in the same period last year; adjusted operating profit was 7.057 billion yuan (approximately 1 billion USD), compared to an adjusted operating profit of 7.7 billion yuan in the same period last year; Qifu Tech's operating profit margin for 2025 was 34.8%; the non-GAAP operating profit margin was 36.7%.
Qifu Tech's income tax expense for 2025 was 1.4 billion yuan (200 million USD); the effective tax rate was 18.1%, down from 20.4% in 2024.
Qifu Tech's attributable net profit for 2025 was 5.99 billion yuan (857 million USD), compared to 6.264 billion yuan in 2024; the attributable non-GAAP net profit was 6.368 billion yuan (911 million USD), compared to 6.432 billion yuan in 2024; the net profit margin was 31.1%; the non-GAAP net profit margin was 33.1%.
Qifu Tech maintained stable overall operations in 2025, with the outstanding loan balance decreasing by 8.8% quarter-on-quarter at the end of the fourth quarter of 2025, and a slight increase in the total loan facilitation scale for the year, achieving the previously provided performance guidance for the market.
As of December 31, 2025, Qifu Tech had served a total of 167 financial institutions, with registered users reaching 290 million, a year-on-year increase of 11.5%. The number of credit users increased to 63.6 million, a year-on-year increase of 11.8%, and the number of borrowing users also reached 38.9 million, a year-on-year increase of 13.0%.
In the fourth quarter of 2025, Qifu Tech facilitated loans of 70.3 billion yuan, a decrease of 15.6% quarter-on-quarter and a decrease of 21.8% year-on-year. The outstanding loan balance as of December 31, 2025, was 126.01 billion yuan, down 8.8% from the end of the previous quarter and down 8% year-on-year
For the whole year, Qifu Tech facilitated loans of 327.07 billion yuan, a year-on-year increase of 1.6%, with a re-borrowing rate of 93.3%.
Qifu Tech's CEO and Director, Wu Haisheng, stated: &#34;In the fourth quarter, the uncertainty of the macro environment and changes in regulatory policies led to tightening liquidity across the industry and an increase in risk levels, continuously posing severe challenges to our operations. In response to this situation, we proactively made adjustments, including raising risk control thresholds, adjusting business structures, and optimizing cost structures to mitigate adverse impacts to some extent. Given the intertwining of regulatory policy changes and macro environmental challenges, the entire industry has yet to stabilize, and we will continue to maintain prudent business planning.&#34;
&#34;While making necessary adjustments to our domestic business, we are also intensifying our efforts to expand overseas. During the quarter, we increased our investment in overseas resources, obtained necessary qualifications in local markets, and established local teams, expanding our business footprint into multiple developing country markets. In the long run, we believe these overseas markets can bring considerable growth opportunities and will help us achieve diversification in our business geographic structure.&#34;
Wu Haisheng said: &#34;Given that macro-level challenges and uncertainties still exist, we will continue to strengthen the resilience of our core business. In the face of significantly changing external environments, we will remain vigilant and decisively take measures when necessary to further enhance operational efficiency and optimize resource allocation.&#34;
Qifu Tech's CFO, Xu Zuoli, said: &#34;Despite facing a highly challenging market environment, we still achieved most of our operational and financial goals in the fourth quarter. By 2025, total revenue is projected to be 19.21 billion yuan, with a non-GAAP net profit of 6.35 billion yuan. Meanwhile, annual operating cash flow reached 11.1 billion yuan. As of the end of 2025, cash and short-term investments totaled approximately 10.7 billion yuan. In 2025, we will return approximately 6.16 billion yuan (880 million USD) to shareholders through stock buybacks and cash dividends. Additionally, we utilized a brief window to write off a significant amount of long-term debt, making our balance sheet more robust.&#34;
Qifu Tech's Chief Risk Officer, Zheng Yan, said: &#34;In the fourth quarter, macro environmental challenges and uncertainties significantly pressured market liquidity, and the risk level of our overall asset portfolio also showed a noticeable increase, particularly among high-risk customer groups. Among the main leading risk indicators, the first-day overdue rate reached 6.1%, and the 30-day recovery rate was 84.1%. However, the risk control tightening measures we implemented in the fourth quarter have begun to show results in recent months, with marginal improvements in the risk performance of newly issued loans, and their proportion is steadily increasing.&#34;
Qifu Tech's Q4 revenue was 4.093 billion yuan, a year-on-year decrease of 9%.
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Qifu Tech's revenue for the fourth quarter of 2025 was 4.093 billion yuan (approximately 585 million USD), down 9% from 4.482 billion yuan in the same period last year
Qifu Tech's net revenue from credit-driven services in Q4 2025 was 3.432 billion yuan (491 million USD), compared to 2.89 billion yuan in the same period of 2024 and 3.869 billion yuan in the previous quarter.
Among them, Qifu Tech's loan matching and service fees - heavy capital in Q4 2025 were 200 million yuan (28.6 million USD), while in the same period of 2024 it was 363 million yuan, and in the previous quarter it was 514 million yuan. The year-on-year and sequential decrease was mainly due to the reduction in the scale of heavy capital loan matching.
Qifu Tech's financing income in Q4 2025 was 2.2 billion yuan (approximately 315 million USD), compared to 1.667 billion yuan in the same period of 2024 and 2.341 billion yuan in the previous quarter. The year-on-year increase was mainly due to the increase in the average on-balance sheet loan outstanding. The sequential decrease was mainly due to the reduction in the interest rates of on-balance sheet loans.
Qifu Tech's income from the release of guaranteed liabilities in Q4 2025 was 917 million yuan (131 million USD), while in the same period of 2024 it was 762 million yuan, and in the previous quarter it was 913 million yuan. The year-on-year increase was mainly due to the increase in the average outstanding balance of off-balance sheet heavy capital loans.
Qifu Tech's other service fees in Q4 2025 were 109 million yuan (15.6 million USD), while in the same period of 2024 it was 97.4 million yuan, and in the previous quarter it was 100 million yuan.
Qifu Tech's net revenue from platform services in Q4 2025 was 661 million yuan (94.5 million USD), while in the same period of 2024 it was 1.593 billion yuan, and in the previous quarter it was 1.337 billion yuan.
Qifu Tech's Q4 costs and expenses were 3.225 billion yuan, a year-on-year increase of 24%.
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Qifu Tech's costs and expenses in Q4 2025 were 3.225 billion yuan, an increase of 24% compared to 2.59 billion yuan in the same period last year.
Among them, Qifu Tech's financing costs in Q4 2025 were 141 million yuan (20.2 million USD), sales and marketing expenses were 551 million yuan (78.7 million USD), general and administrative expenses were 143 million yuan, and provisions for bad debts on loans were 1.19 billion yuan (170 million USD).
Qifu Tech's Q4 operating profit was 867 million yuan, with an operating profit margin of 21%.
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Qifu Tech's operating revenue for the fourth quarter of 2025 was 867 million (approximately 124 million USD), compared to an operating profit of 1.89 billion in the same period last year and an operating profit of 1.7 billion in the previous quarter. Qifu Tech's operating profit margin for the fourth quarter of 2025 was 21.2%.
Qifu Tech's adjusted operating profit for the fourth quarter of 2025 was 922 million (approximately 132 million USD), while the adjusted operating profit for the same period last year was 1.95 billion. Qifu Tech's non-GAAP operating profit margin for the fourth quarter of 2025 was 22.5%.
Qifu Tech's income tax expense for the fourth quarter of 2025 was 137 million (19.5 million USD), compared to 20 million in the same period of 2024 and 400 million in the previous quarter.
Qifu Tech Q4 net profit 1 billion, down 47% year-on-year.
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Qifu Tech's net profit for the fourth quarter of 2025 was 1.016 billion (145 million USD), while the same period in 2024 was 1.913 billion and the previous quarter was 1.433 billion. Qifu Tech's net profit margin for the fourth quarter of 2025 was 24.8%.
Qifu Tech's adjusted net profit for the fourth quarter of 2025 was 1.07 billion, compared to 1.972 billion in the same period last year, with a non-GAAP net profit margin of 26.2%.
In 2025, 450 million USD was spent on share repurchases.
According to the company's dividend policy, Qifu Tech's board of directors has approved the distribution of dividends for the second half of 2025 to holders of Class A common stock and American Depositary Shares registered as of the close of business on April 22, 2026, Hong Kong time and New York time, with a dividend of 0.39 USD per Class A common share or 0.78 USD per American Depositary Share.
The payment date for Class A common shareholders is expected to be May 8, 2026, while the payment date for American Depositary Share holders is expected to be around May 14, 2026.
On November 19, 2024, the board of directors approved a share repurchase plan (&#34;2025 Share Repurchase Plan&#34;), under which the company is authorized to repurchase American Depositary Shares or Class A common stock with a total value not exceeding 450 million USD within the next 12 months starting from January 1, 2025.
As of December 31, 2025, the company had essentially exhausted the total authorized value of the 2025 Share Repurchase Plan, having purchased approximately 15.9 million American Depositary Shares in the open market at an average price of 28.2 USD per American Depositary Share, totaling approximately 450 million USD (including commissions)
Qifu Tech expects to generate a net profit of RMB 830 million to RMB 880 million and a non-GAAP net profit of RMB 900 million to RMB 950 million in the first quarter of 2026, a year-on-year decrease of 51% to 53%.
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QFIN

03660

Qifu Tech (NASDAQ: QFIN; Hong Kong Stock Exchange: 3660) announced its financial performance for the year ended December 31, 2025, with revenue of 19.2 billion yuan, an increase of 11.85% year-on-year. Operating profit was 6.678 billion yuan, a decrease from the previous year; net profit was 5.99 billion yuan, a year-on-year decline. The company's loan balance decreased by 8.8% quarter-on-quarter, while the annual loan facilitation scale saw slight growth. Qifu Tech has served 167 financial institutions, with registered users reaching 290 million, an increase of 11.5% year-on-year

Qifu Tech Quarterly Report Illustration: Revenue of 4.09 billion, a year-on-year decrease of 9%, focusing on overseas business expansion