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Stock Alert: 360 DigiTech Shares Hit 52-Week High

Shares of 360 DigiTech Inc. (QFIN) reached a 52-week high of $41.64 Thursday morning, and are currently trading at $40.27, up $1.06 or 2.70%, with trading volume of 786K versus an average volume of 3 million shares.

On May 27, the company reported Q1 net income of RMB1,347.2 million compared to RMB183.2 million in the same period of 2020. Non-GAAP net income surged by 452.8% to RMB1,406.8 million from RMB254.5 million last year. Total net revenue increased by 13.1% to RMB3,599.2 million from RMB3,182.9 million generated a year ago.

Haisheng Wu, Chief Executive Officer and Director of 360 DigiTech, commented, "We are very pleased to report a great quarter that exceeded our expectations across multiple fronts of operations. During the quarter, financial institutions originated record setting RMB74.1 billion loans, up 40% year-on-year..."

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