Qudian Inc. announced its unaudited financial results for the second quarter ended June 30, 2025, and confirmed its decision to wind down the last-mile delivery business. This strategic move follows intense competition and a significant decline in sales income from this segment, which decreased by 93.5% to RMB3.5 million from RMB53.3 million in the second quarter of 2024.
Despite the operational challenges, Qudian reported a net income attributable to shareholders of RMB311.8 million (US$43.5 million), a substantial increase from RMB99.8 million in the second quarter of 2024. This profitability was primarily driven by a 392.3% increase in interest and investment income, net, which reached RMB440.5 million. Diluted net income per ADS was RMB1.86 (US$0.26).
The company's loss from operations increased to RMB113.9 million, mainly due to the winding down of businesses and higher depreciation and property tax expenses from the newly completed headquarters. As of June 30, 2025, Qudian held RMB4,029.0 million (US$562.4 million) in cash and cash equivalents and continued its share repurchase program, buying back 22.7 million ADSs for approximately US$54.6 million between June 13, 2024, and August 12, 2025.
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