QFIN on Nasdaq

Qfin Holdings, Inc.

Finance services company in the Cayman Islands, listed on Nasdaq (QFIN). Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

$2.7BRevenue, fiscal 20252
$854.5MNet income, fiscal 20252

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  • TickerQFIN on Nasdaq1
  • IndustryFinance Services1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business address7/F Lujiazui Finance Plaza, No. 1217 Dongfang Road, Pudong New Area, Shanghai, 2001223
  • Filer categoryLarge accelerated filer3

In addition, unless the context indicates otherwise, for the discussion of our business references to:4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

34.8%Operating margin2
31.1%Net margin2
16.8%Revenue growth, 20252
24.8%Return on equity2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Referral services brought in 45% of the revenue Qfin Holdings, Inc. broke down this way in fiscal 2025.

  1. Referral services2.7B CNY245%down 4% from 2024
  2. Other Services Risk Free Model1.3B CNY222%up 172% from 2024
  3. Revenue From Loan Facilitation Services Under Fees Capital Light683.9M CNY211%down 45% from 2024
  4. Revenue from Loan Facilitation Services Under Fees Capital Light478.6M CNY28%down 45% from 2024
  5. Revenue from post-facilitation services461.5M CNY28%up 22% from 2024
  6. Other services fees.390.3M CNY26%up 5% from 2024
Products and services by year
Products and services202320242025
Referral services950.0M CNY2.8B CNY2.7B CNY
Other Services Risk Free Model387.5M CNY487.2M CNY1.3B CNY
Revenue From Loan Facilitation Services Under Fees Capital Light2.1B CNY1.2B CNY683.9M CNY
Revenue from Loan Facilitation Services Under Fees Capital Light1.1B CNY870.3M CNY478.6M CNY
Revenue from post-facilitation services585.4M CNY377.7M CNY461.5M CNY
Other services fees.215.6M CNY371.0M CNY390.3M CNY

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue16¢$429.3M
  • Other costs46¢$1.3B
  • Income tax7¢$200.3M
  • Profit31¢$854.5M

Out of $2.7B in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks44¢$693.3M
  • Kept or used elsewhere56¢$891.7M

Out of $1.6B of cash from operations.2

Financial statements

Revenue5678910112$2.7B in 2025+325% since 2018
0$1.0B$2.0B$3.0B2018: $646.8M$646.8M20182019: $1.3B$1.3B2019+105%2020: $2.1B$2.1B2020+57%2021: $2.6B$2.6B2021+26%2022: $2.4B$2.4B2022−8%2023: $2.3B$2.3B2023−4%2024: $2.4B$2.4B2024+2%2025: $2.7B$2.7B2025+17%
Operating income5678910112$955.0M in 2025+299% since 2018
0$500.0M$1.0B$1.5B2018: $239.2M$239.2M20182019: $415.6M$415.6M2019+74%2020: $580.9M$580.9M2020+40%2021: $1.1B$1.1B2021+83%2022: $648.4M$648.4M2022−39%2023: $684.1M$684.1M2023+6%2024: $1.0B$1.0B2024+51%2025: $955.0M$955.0M2025−7%
Net income5678910112$854.5M in 2025+392% since 2018
0$250.0M$500.0M$750.0M$1.0B2018: $173.6M$173.6M20182019: $359.3M$359.3M2019+107%2020: $535.7M$535.7M2020+49%2021: $904.6M$904.6M2021+69%2022: $580.8M$580.8M2022−36%2023: $601.2M$601.2M2023+4%2024: $856.0M$856.0M2024+42%2025: $854.5M$854.5M2025−0%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Total net revenue19.2B CNY17.2B CNY16.3B CNY
Facilitation, origination and servicing (including costs charged by related parties of RMB118,849, RMB116,511 and RMB123,968 for the years ended December 31, 2023, 2024 and 2025, respectively)3.0B CNY2.9B CNY2.7B CNY
Funding costs548.9M CNY590.9M CNY645.4M CNY
Sales and marketing (including expenses charged by related parties of RMB223,627, RMB103,786 and RMB156,020 for the years ended December 31, 2023, 2024 and 2025, respectively)2.5B CNY1.7B CNY1.9B CNY
General and administrative (including expenses charged by related parties of RMB13,610, RMB13,110 and RMB12,263 for the years ended December 31, 2023, 2024 and 2025, respectively)659.0M CNY449.5M CNY421.1M CNY
Provision for loans receivable3.6B CNY2.8B CNY2.2B CNY
Provision for financial assets receivable (including provision generated from related parties of RMB633, RMB(200) and RMB(1,150) for the years ended December 31, 2023, 2024 and 2025, respectively)234.9M CNY296.9M CNY386.1M CNY
Provision for accounts receivable and contract assets (including provision generated from related parties of RMB(10,197), RMB1,861 and RMB(1,523) for the years ended December 31, 2023, 2024 and 2025, respectively)319.5M CNY421.5M CNY175.8M CNY
Provision for contingent liabilities1.7B CNY478.4M CNY3.1B CNY
Total operating costs and expenses12.5B CNY9.6B CNY11.4B CNY
Income from operations6.7B CNY7.5B CNY4.9B CNY
Interest income, net278.6M CNY237.0M CNY217.3M CNY
Foreign exchange gain159.6M CNY1.5M CNY2.4M CNY
Fair value change of derivatives-175.7M CNY
Gain on debt extinguishment270.1M CNY
Investment loss-30.1M CNY
Other income, net165.1M CNY125.3M CNY230.9M CNY
Income before income tax expense7.4B CNY7.9B CNY5.3B CNY
Income tax expense-1.4B CNY-1.6B CNY-1.0B CNY
Net income6.0B CNY6.2B CNY4.3B CNY
Net loss attributable to non-controlling interests14.0M CNY16.2M CNY16.8M CNY
Net income attributable to ordinary shareholders of the Company6.0B CNY6.3B CNY4.3B CNY
Basic (Per share)22.48 CNY21.02 CNY13.36 CNY
Diluted (Per share)22.01 CNY20.64 CNY13.04 CNY
Basic (in shares)266.5M shares298.0M shares320.7M shares
Diluted (in shares)272.2M shares303.4M shares328.5M shares
Facilitation, origination and servicing costs charged by related parties124.0M CNY116.5M CNY118.8M CNY
Sales and marketing expenses charged by related parties156.0M CNY103.8M CNY223.6M CNY
General and administrative expenses charged by related parties12.3M CNY13.1M CNY13.6M CNY
Provision for financial asset receivable, including provision generated from related parties-1.1M CNY-200.0K CNY633.0K CNY
Provision for accounts receivable and contract assets, including provision charged by related parties-1.5M CNY1.9M CNY-10.2M CNY

Compare Qfin Holdings, Inc. with another company

Leadership

Who has led Qfin Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Wu Haisheng2026–now

Chief financial officer

  1. Xu Zuoli2026–now
Board members and other officers (9)

Former names

  • Qifu Technology, Inc.Apr 21, 2023 to Jul 11, 20253
  • 360 DigiTech, Inc.Sep 15, 2020 to Apr 3, 20233
  • 360 Finance, Inc.Jul 27, 2018 to Aug 24, 20203

Timeline

  1. Mar 18, 2026New chief executive Wu Haisheng becomes CEO12

Filings

166 filings to the SEC since October 2021: 5 annual reports, 19 insider forms, 31 large holders, 111 other. The latest 20:

  1. Sep 29, 20264 OWNERSHIP DOCUMENT EDGAR
  2. Sep 28, 2026144 EDGAR
  3. Sep 28, 20264 OWNERSHIP DOCUMENT EDGAR
  4. Sep 24, 2026144 EDGAR
  5. Sep 21, 20266-K EDGAR
  6. Sep 1, 20263 OWNERSHIP DOCUMENT EDGAR
  7. Aug 25, 20266-K EDGAR
  8. Aug 13, 20266-K EDGAR
  9. Aug 10, 2026SCHEDULE 13G/A EDGAR
  10. Jun 30, 20266-K EDGAR
  11. Jun 10, 20264 OWNERSHIP DOCUMENT EDGAR
  12. Jun 3, 20266-K EDGAR
  13. May 27, 20266-K EDGAR
  14. May 22, 20264 PRIMARY DOCUMENT EDGAR
  15. May 22, 20264 PRIMARY DOCUMENT EDGAR
  16. May 22, 20264 PRIMARY DOCUMENT EDGAR
  17. May 13, 20266-K EDGAR
  18. May 13, 2026SCHEDULE 13G EDGAR
  19. May 12, 20266-K EDGAR
  20. Apr 28, 20266-K EDGAR

The 166 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

6 open-market trades by officers, directors and large owners since October 2021: 3 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 29, 2026Yan Andrew YDirectorSale850$3.54$3.0KForm 4
Sep 25, 2026Yan Andrew YDirectorSale326,700$7.36$2.4MForm 4
Sep 24, 2026Yan Andrew YDirectorSale330,000$7.52$2.5MForm 4
Jun 9, 2026Chen XiaohuanDirectorBuy4,000$14.41$57.6KForm 4
Mar 27, 2026Chen XiaohuanDirectorBuy190,000$12.89$2.4MForm 4
Mar 31, 2023Chen XiaohuanDirectorBuy60,000$12.48$748.8KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,430,969$101.7M0.0%+512,701
FountainVest China Capital Partners GP3 Ltd.6,039,427$95.5M7.6%No change
Triata Capital Ltd5,166,613$81.7M13.9%+1,670,185
Krane Funds Advisors LLC3,427,863$54.2M1.9%−1,645,050
Vanguard Capital Management LLC3,276,684$51.8M0.0%−66,585
Greenwoods Asset Management Hong Kong Ltd.3,031,438$47.9M2.2%−264,000
D. E. Shaw & Co., Inc.2,528,232$40.0M0.0%−602,279
Bank Of America Corp /de/2,239,259$35.4M0.0%+251,802
Arrowstreet Capital, Limited Partnership1,896,858$30.0M0.0%+1,462,154
Citigroup Inc1,767,177$27.9M0.0%−26,313
Goldman Sachs Group Inc1,717,718$27.2M0.0%−414,148
Swedbank AB1,629,500$25.8M0.0%No change
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.1,587,366$25.1M0.0%New
Dimensional Fund Advisors LP1,419,922$22.4M0.0%−450,716
Citadel Advisors LLC1,391,208$22.0M0.0%+1,170,091
Marshall Wace, Llp1,337,100$21.1M0.0%New
American Century Companies Inc1,164,859$18.4M0.0%+37,730
State Street Corp1,102,232$17.4M0.0%−17,931
Morgan Stanley1,092,813$17.3M0.0%+217,292
Point72 Asset Management, L.P.1,092,660$17.3M0.0%New
Norges Bank1,079,132$17.1M0.0%New
Wellington Management Group Llp1,034,463$16.4M0.0%+580,772
APEIRON CAPITAL Ltd976,185$15.4M9.9%−55,870
Tiger Pacific Capital LP954,921$15.1M7.0%No change
Invesco Ltd.927,327$14.7M0.0%+378,220

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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