Qudian Inc. released its unaudited financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, the company reported a net income attributable to shareholders of RMB91.7 million (US$12.6 million), an increase from RMB39.1 million in 2023. Diluted net income per ADS for the full year was RMB0.49 (US$0.07).
However, the fourth quarter of 2024 saw a net loss attributable to shareholders of RMB66.4 million (US$9.1 million), compared to a net loss of RMB117.1 million in Q4 2023. Sales income and others decreased by 18.1% to RMB52.2 million from RMB63.8 million in the fourth quarter of 2023. This decline was primarily due to intense competition affecting the last-mile delivery business, which generated RMB50.3 million in revenue, down from RMB62.1 million in the prior year's quarter.
As of December 31, 2024, cash and cash equivalents stood at RMB4,263.3 million (US$584.1 million). The company continued its share repurchase program, having bought back 17.8 million ADSs for approximately US$41.2 million between June 13, 2024, and March 16, 2025. The last-mile delivery business is encountering intense competition and uncertainty.
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