Chinese fintech firm Qfin Holdings, Inc. (3660.HK) on Wednesday reported a dip in first-quarter profit.
The company also forecast a decline in the second-quarter earnings, citing weaker credit demand and ongoing regulatory uncertainties.
Commenting on the results, Haisheng Wu, CEO said, "In the first quarter, the industry continued to undergo deep adjustments while regulations tightened further. Yet we withstood the pressure. Through proactive efforts to tighten our credit standards, optimize our loan portfolio, and streamline operations, we demonstrated strong resilience, achieving improved risk performance and other operational metrics. More importantly, as we expand our user base to serve more high-quality customers, we are building a more sustainable business model capable of navigating cycles."
On the HKSE, shares of Qfin Holdings were gaining 6.84 percent, changing hands at HK$49.980.
For the first quarter, Net income attributable to ordinary shareholders of the company tumbled to 883.32 million yuan, or $128.06 million, from 1.80 billion yuan in the same period of 2025.
Net income per ordinary share was 3.58 yuan or $0.52, versus 6.31 yuan a year ago.
Net income per ADS attributable to ordinary shareholders fell to 7.16 yuan or $1.04, from 12.62 yuan in the prior-year quarter.
Quarterly revenue for the three months ended March declined to 3.91 billion yuan, or $566.74 million, from 4.69 billion yuan a year earlier.
Platform services revenue dropped to 951.92 million yuan or $138 million from 1.58 billion yuan last year.
Looking ahead, Qfin forecast second-quarter net income of between 830 million yuan and 910 million yuan, down 47 percent to 51 percent year-on-year.
The AI-empowered credit-tech platform said it would take a "prudent approach" to business planning as regulatory pressure persists but expects the consumer finance market to become "healthier and more efficient" as the regulatory landscape reshapes.
The outlook reflects preliminary view and is subject to material changes, it said.
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