Qifu Technology (03660) financial report for the second quarter of 2025: revenue of 5.2 billion yuan, an increase of 11.2% over the previous month

The Zhitong Finance App learned that on August 15, Qifu Technology (NASDAQ: QFIN.US; Hong Kong Stock Exchange: 03660) released its financial report for the second quarter of 2025. The financial report shows that in a complex and changing macroeconomic environment, the company has shown strong resilience to risk and business resilience through measures such as optimizing risk control systems, expanding diversified funding channels, and deepening embedded financial layout.

As of June 30, 2025, the Qifu Technology platform has served 165 financial institutions, and the number of registered users reached 276 million, an increase of 11.4% over the previous year. The cumulative number of credit granting users increased to 60.2 million, an increase of 12.3% over the previous year, and the cumulative number of loan users also reached 36.8 million, an increase of 14.9% over the previous year. In the second quarter, the platform matched loans of 84.6 billion yuan, an increase of 16% over the previous year. The balance of loans at the end of the quarter was 140.1 billion yuan.

In the second quarter, Qifu Technology continued to expand diversified customer acquisition channels. Through embedded finance and links to a wide range of Internet scenarios, it covered diverse scenarios such as short videos, e-commerce, travel, and takeout, giving users a convenient and unsensitive lending experience. More than half of the new credit users came from embedded financial partners, and the volume of loans from this channel continues to grow. 1.79 million new credit users were added this quarter, an increase of 40% over the previous year, and the unit credit cost was slightly optimized month-on-month. 1.23 million new borrowing users were added, an increase of about 60% over the previous year. The number of new credit users from embedded financial channels increased 103% year over year during the quarter, and loan volume increased by about 155% year over year.

In terms of financial performance, Qifu Technology's second-quarter revenue reached RMB 5.2 billion, up 11.2% month-on-month and 25.4% year-on-year. Non-GAAP net profit was RMB 1.85 billion.

Wu Haisheng, CEO and director of Qifu Technology, said that international trade tension at the beginning of the quarter increased the uncertainty of the economic environment, so we tightened risk control standards to cope with uncertain changes in the situation. In the second half of this year, we will continue to be careful in our business planning and continue to focus on improving the quality and sustainability of our business.

This quarter, despite some assets in the industry facing insufficient liquidity, our ABS issuance scale reached a new high, and the comprehensive capital cost declined further from month to month.

Despite ongoing macro challenges and uncertainties, our business continues to be robust and resilient. At the same time, we will continue to invest more resources to promote the application of AI in our credit service chain to provide better and more efficient services to users and institutions. We believe these initiatives will help us better cope with the current macro environment and seize long-term development opportunities through technological innovation, product upgrades, and collaboration.

Chief Financial Officer Xu Zuoli added that despite the changing and uncertain macro environment, we are happy to once again achieve solid financial performance. Total revenue for the second quarter was RMB5.22 billion and non-GAAP net profit was RMB1.85 billion. During the quarter, operating cash flow reached approximately RMB 2.62 billion. While continuing to maintain steady performance, we carefully assess potential risks associated with our operations. In the second quarter, the new budget provision ratio was close to an all-time high to reflect changes in the market environment.