Qudian Inc. announced its unaudited financial results for the first quarter ended March 31, 2025, reporting a net income attributable to shareholders of RMB150.1 million (US$20.7 million). This represents a significant improvement from a net loss of RMB73.6 million in the first quarter of 2024. Diluted net income per ADS was RMB0.87 (US$0.12).
Sales income and others, however, decreased by 53.8% to RMB25.8 million from RMB55.8 million in the first quarter of 2024. The company's last-mile delivery business generated approximately RMB23.8 million in revenue, a substantial decline from RMB53.8 million in the same period last year, due to intense competition.
Following an assessment of current market conditions, Qudian is contemplating winding down its last-mile delivery business. Despite this operational challenge, the company's net income was bolstered by a 205.3% increase in interest and investment income, net, reaching RMB165.4 million. Qudian also continued its share repurchase program, having bought back 21.8 million ADSs for approximately US$52.0 million between June 13, 2024, and May 26, 2025.
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