← Qfin Holdings, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||
| Current assets: | ||||||||||
| Cash and Cash Equivalents, at Carrying Value | $468.5m | $210.3m | $302.8m | $677.2m | $959.8m | $1.0b | $588.4m | $610.0m | $671.6m | |
| Accounts Receivable | $321.6m | $1.8b | $2.2b | $161.1m | $15.1m | $9.2m | $10.8m | $20.9m | $72.9m | |
| Prepaid Expense and Other Assets, Current | $33.9m | $15.9m | $93.7m | $61.5m | $60.2m | $55.0m | $46.5m | $200.6m | $110.5m | |
| Short-term Investments | — | — | — | — | — | $8.3m | $2.1m | $465.0m | $407.9m | |
| Cash and cash equivalents | $468.5m | $1.4b | $2.1b | $4.4b | $6.1b | $7.2b | $4.2b | $4.5b | $4.7b | |
| Security deposit prepaid to third-party guarantee companies | — | $795.7m | $933.0m | $915.1m | $874.9m | $396.7m | $207.1m | $162.6m | $325.7m | |
| Funds receivable from third party payment service providers | $132.5m | $142.6m | $118.9m | $131.5m | $153.2m | $1.2b | $1.6b | $462.1m | $848.2m | |
| Accounts receivable and contract assets, net (net of allowance of RMB261,496 and RMB181,843 as of December 31, 2024 and 2025, respectively) | $327.1m | $1.8b | $2.3b | $2.4b | $3.1b | $2.9b | $2.9b | $2.2b | $950.3m | |
| Financial assets receivable, net (net of allowance of RMB390,649 and RMB380,406 as of December 31, 2024 and 2025, respectively) | $270.1m | $1.2b | $1.9b | $3.6b | $3.8b | $3.0b | $2.5b | $1.6b | $1.5b | |
| Loans receivable, net (including RMB6,956,948 and RMB12,399,462 from the consolidated trusts as of December 31, 2024 and 2025, respectively) | — | $811.4m | $9.2b | $7.5b | $9.8b | $15.3b | $24.6b | $26.7b | $34.7b | |
| Prepaid expenses and other assets (including RMB109,428 and RMB108,174 from the consolidated trusts as of December 31, 2024 and 2025, respectively) | $33.9m | $109.0m | $652.5m | $401.2m | $383.9m | $379.4m | $329.9m | $1.5b | $773.0m | |
| Accounts receivable and contract assets, net-noncurrent (net of allowance of RMB10,540 and RMB6,189 as of December 31, 2024 and 2025, respectively) | — | — | $19.5m | $307.9m | $223.5m | $261.3m | $147.0m | $27.1m | $22.0m | |
| Financial assets receivable, net-noncurrent (net of allowance of RMB55,440 and RMB49,776 as of December 31, 2024 and 2025, respectively) | — | — | $59.3m | $645.3m | $598.0m | $688.8m | $596.3m | $170.8m | $209.5m | |
| Loans receivable, net-noncurrent (including RMB631,575 and RMB1,754,356 from the consolidated trusts as of December 31, 2024 and 2025, respectively) | — | — | — | $87.7m | $2.9b | $3.1b | $2.9b | $2.5b | $4.0b | |
| Allowance For Doubtful Accounts Receivable | — | — | — | — | — | ($315.0m) | ($320.7m) | ($272.0m) | ($188.0m) | |
| Gross Accounts Receivable | — | — | — | — | — | $3.4b | $3.4b | $2.5b | $1.2b | |
| Other Receivables | — | — | — | — | — | $4.8b | $4.7b | $2.2b | $2.6b | |
| Other Short Term Investments | — | — | — | — | — | $57.0m | $15.0m | $3.4b | $2.9b | |
| Prepaid Assets | — | — | — | — | — | $396.7m | $207.1m | $162.6m | $325.7m | |
| Assets, Current | $3.0b | $1.1b | $2.8b | $3.4b | $4.4b | $4.9b | $5.6b | $5.9b | $7.1b | |
| Total current assets | $3.0b | $7.3b | $19.5b | $21.9b | $27.8b | $34.1b | $39.8b | $42.8b | $49.5b | |
| Property, Plant and Equipment, Net | $6.0m | $999k | $2.5m | $3.0m | $3.9m | $6.9m | $32.6m | $49.7m | $91.1m | |
| Goodwill | — | — | — | — | — | $0 | $5.8m | $5.8m | $6.5m | |
| Intangible Assets, Net (Excluding Goodwill) | $262k | $123k | $504k | $522k | $778k | $681k | $1.9m | $1.6m | $1.5m | |
| Intangible assets | $262k | $847k | $3.5m | $3.4m | $5.0m | $4.7m | $13.4m | $11.8m | $10.7m | |
| Goodwill And Other Intangible Assets | — | — | — | — | — | $1.0b | $1.0b | $1.0b | $1.0b | |
| Other Intangible Assets | — | — | — | — | — | $1.0b | $990.9m | $968.6m | $977.3m | |
| Operating Lease, Right-of-Use Asset | — | — | $55.4m | $49.0m | $42.6m | $55.5m | $45.4m | $35.6m | $35.7m | |
| Other Assets, Noncurrent | — | — | $8.0m | $7.5m | $6.7m | $8.1m | $6.5m | $5.0m | $27.9m | |
| Additional Financial Items | ||||||||||
| Restricted cash (including RMB771,798 and RMB1,470,555 from the consolidated trusts as of December 31, 2024 and 2025, respectively) | $487.9m | $567.8m | $1.7b | $2.4b | $2.6b | $3.3b | $3.4b | $2.4b | $2.8b | |
| Amounts due from related parties (net of allowance of RMB7,030 and nil as of December 31, 2024 and 2025, respectively) | $105.2m | $484.3m | $478.8m | $193.3m | $140.9m | $33.2m | $45.3m | $8.5m | — | |
| Amounts due from related parties, non-current (net of allowance of RMB5 and nil as of December 31, 2024 and 2025, respectively) | — | — | — | — | — | $33.2m | $4.2m | $51k | — | |
| Land use rights, net | — | — | — | — | $1.0b | $998.2m | $977.5m | $956.7m | $966.6m | |
| Deferred tax assets | $75.5m | — | $697.3m | $1.4b | $834.7m | $1.0b | $1.1b | $1.2b | $1.4b | |
| Other non-current assets | — | — | $55.4m | $49.0m | $42.6m | $55.7m | $45.9m | $36.3m | $195.3m | |
| Payable to investors of the consolidated trusts-current | $536.9m | $300.3m | $4.4b | $3.1b | $2.3b | $6.1b | $8.9b | $8.2b | $9.9b | |
| Accrued expenses and other current liabilities | $96.7m | $519.0m | $720.9m | $809.8m | $2.3b | $2.0b | $2.0b | $2.5b | $2.9b | |
| Amounts due to related parties | $1.3b | $78.8m | $55.6m | $71.6m | $214.1m | $113.7m | $80.4m | $67.5m | $0 | |
| Short term loans | — | — | $200.0m | $186.8m | $397.6m | $150.0m | $798.6m | $1.4b | $1.2b | |
| Guarantee liabilities-stand ready | — | — | $2.2b | $4.2b | $4.8b | $4.1b | $3.9b | $2.4b | $2.3b | |
| Guarantee liabilities-contingent | — | — | $734.7m | $3.5b | $3.3b | $3.4b | $3.2b | $1.8b | $1.9b | |
| Income tax payable | $115.3m | $432.1m | $1.1b | $1.2b | $624.1m | $661.0m | $742.2m | $1.0b | $1.1b | |
| Other tax payable | $31.3m | $164.5m | $263.9m | $254.5m | $241.4m | $182.4m | $163.3m | $109.2m | $9.3m | |
| Payable to investors of the consolidated trusts-noncurrent | — | — | $3.4b | $1.5b | $4.0b | $4.5b | $3.6b | $5.7b | $9.9b | |
| Other comprehensive income (loss) | — | $3.7m | $24.9m | ($74.4m) | ($110.9m) | ($51.8m) | ($34.7m) | $11.9m | ($195.7m) | |
| Non-controlling interests | — | — | $1.3m | $512k | $12.7m | $84.1m | $72.4m | $56.2m | $42.1m | |
| Capital Lease Obligations | — | — | — | — | — | $30.7m | $29.1m | $27.3m | $18.4m | |
| Current Accrued Expenses | — | — | — | — | — | $682.0m | $931.5m | $1.0b | $1.1b | |
| Current Capital Lease Obligation | — | — | — | — | — | $30.7m | $29.1m | $27.3m | $18.4m | |
| Current Debt | — | — | — | — | — | $150.0m | $798.6m | $1.4b | $2.2b | |
| Current Debt And Capital Lease Obligation | — | — | — | — | — | $180.7m | $827.7m | $1.4b | $2.2b | |
| Invested Capital | — | — | — | — | — | $19.0b | $22.7b | $25.6b | $27.9b | |
| Investments And Advances | — | — | — | — | — | $57.0m | $15.0m | $3.4b | $2.9b | |
| Net PPE | — | — | — | — | — | $47.6m | $231.2m | $362.8m | $637.0m | |
| Net Tangible Assets | — | — | — | — | — | $17.8b | $20.9b | $23.2b | $23.1b | |
| Non Current Deferred Liabilities | — | — | — | — | — | $100.8m | $371.7m | $965.2m | $1.1b | |
| Ordinary Shares Number | — | — | — | — | — | $322.8m | $315.2m | $284.0m | $243.8m | |
| Other Current Borrowings | — | — | — | — | — | $150.0m | $798.6m | $1.4b | $2.2b | |
| Other Payable | — | — | — | — | — | $11.4b | $13.1b | $14.3b | $20.3b | |
| Payables | — | — | — | — | — | $12.8b | $14.3b | $15.8b | $21.7b | |
| Share Issued | — | — | — | — | — | $322.8m | $326.6m | $296.5m | $283.0m | |
| Tangible Book Value | — | — | — | — | — | $17.8b | $20.9b | $23.2b | $23.1b | |
| Treasury Shares Number | — | — | — | — | — | — | $11.3m | $12.6m | $39.2m | |
| Total non-current assets | $81.8m | $7.7m | $852.1m | $2.5b | $5.7b | $6.2b | $6.0b | $5.4b | $7.5b | |
| Total non-current liabilities | — | $15.8m | $3.5b | $1.5b | $4.1b | $4.7b | $3.9b | $6.4b | $12.4b | |
| TOTAL QFIN HOLDINGS, INC EQUITY | $734.1m | $4.4b | $7.2b | $9.5b | $15.2b | $18.8b | $21.9b | $24.2b | $24.1b | |
| TOTAL EQUITY | $4.4b | $7.2b | $9.5b | $15.2b | $18.9b | $22.0b | $24.2b | $24.2b | ||
| Total Debt | — | — | — | — | — | $180.7m | $827.7m | $1.4b | $3.8b | |
| Total Tax Payable | — | — | — | — | — | $843.4m | $905.5m | $1.1b | $1.1b | |
| Assets | $3.1b | $1.1b | $2.9b | $3.7b | $5.3b | $5.8b | $6.5b | $6.6b | $8.1b | |
| TOTAL ASSETS | $3.1b | $7.3b | $20.4b | $24.4b | $33.5b | $40.3b | $45.8b | $48.1b | $56.9b | |
| LIABILITIES AND EQUITY | ||||||||||
| Current liabilities: | ||||||||||
| Operating Lease, Liability, Current | — | — | $21.0m | $28.5m | $25.8m | $30.7m | $29.1m | $27.3m | $18.4m | |
| Operating Lease, Liability, Noncurrent | — | — | $31.2m | $15.0m | $13.2m | $21.7m | $11.9m | $7.7m | $14.3m | |
| Dividends Payable, Current | — | — | — | — | $277 | $178 | — | — | — | |
| Dividends Payable | — | — | — | — | $277.0m | $177.5m | $0 | — | — | |
| Non Current Deferred Revenue | — | — | — | — | — | — | $146.9m | $525.8m | $789.0m | |
| Payables And Accrued Expenses | — | — | — | — | — | $13.4b | $15.2b | $16.8b | $22.8b | |
| Liabilities, Current | $2.4b | $420.9m | $1.4b | $2.1b | $2.2b | $2.4b | $2.8b | $2.4b | $2.9b | |
| Total current liabilities | $2.4b | $2.9b | $9.7b | $13.4b | $14.1b | $16.7b | $19.9b | $17.5b | $20.4b | |
| Deferred Income Tax Liabilities, Net | — | $2.3m | — | $5.8m | $19.1m | $14.6m | $31.7m | $60.2m | $45.8m | |
| Other Liabilities, Noncurrent | — | — | $4.5m | $2.3m | $2.1m | $5.7m | $14.4m | $35.0m | $85.7m | |
| Long-term Debt | — | — | — | — | — | $17.9m | $90.6m | $247.5m | $1.6b | |
| Deferred tax liabilities | — | $15.8m | — | $37.8m | $121.4m | $100.8m | $224.8m | $439.4m | $320.1m | |
| Other long-term liabilities | — | — | $31.2m | $15.0m | $13.2m | $39.5m | $102.5m | $255.2m | $599.6m | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | — | $100.8m | $224.8m | $439.4m | $320.1m | |
| Deferred Tax Liabilities, Net | — | $15.8m | — | $1.9b | — | — | — | — | — | |
| Liabilities | $2.4b | $423.2m | $1.9b | $2.3b | $2.9b | $3.1b | $3.4b | $3.3b | $4.7b | |
| TOTAL LIABILITIES | $2.4b | $2.9b | $13.1b | $14.9b | $18.3b | $21.4b | $23.8b | $23.9b | $32.8b | |
| Stockholders’ equity: | ||||||||||
| Common Stock, Value, Issued | — | $3k | $3k | $3k | $3k | $3k | $3k | $3k | $3k | |
| Retained Earnings (Accumulated Deficit) | $144.1m | ($62.6m) | $297.5m | $634.1m | $1.5b | $1.9b | $2.3b | $2.9b | $3.5b | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | $536k | $3.6m | ($11.4m) | ($17.4m) | ($7.5m) | ($4.9m) | $1.6m | ($28.0m) | |
| Additional Paid in Capital, Common Stock | — | $707.8m | $735.0m | $830.3m | $890.1m | $883.7m | $853.5m | $594.5m | $554.1m | |
| Treasury stock | — | — | — | — | — | $0 | ($384.6m) | ($1.1b) | ($4.1b) | |
| Additional paid-in capital | — | $4.9b | $5.1b | $5.4b | $5.7b | $6.1b | $6.1b | $4.3b | $3.9b | |
| Capital Stock | — | — | — | — | — | $22k | $22k | $21k | $20k | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | ($51.8m) | ($34.7m) | $11.9m | ($195.7m) | |
| Stockholders' Equity Attributable to Parent | $734.1m | $645.8m | $1.0b | $1.5b | $2.4b | $2.7b | $3.1b | $3.3b | $3.4b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | — | $185k | $78k | $2.0m | $12.2m | $10.2m | $7.7m | $6.0m | |
| Minority Interest | — | — | — | — | — | $84.1m | $72.4m | $56.2m | $42.1m | |
| Total Equity Gross Minority Interest | — | — | — | — | — | $18.9b | $22.0b | $24.2b | $24.2b | |
| Liabilities and Equity | $3.1b | $1.1b | $2.9b | $3.7b | $5.3b | $5.8b | $6.5b | $6.6b | $8.1b | |
| TOTAL LIABILITIES AND EQUITY | $3.1b | $7.3b | $20.4b | $24.4b | $33.5b | $40.3b | $45.8b | $48.1b | $56.9b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.