v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
¥ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
CNY (¥)
¥ / shares
shares
Dec. 31, 2023
CNY (¥)
¥ / shares
shares
Revenue, net of value-added tax and related surcharges:        
Total net revenue ¥ 19,205,059 $ 2,746,287 ¥ 17,165,656 ¥ 16,290,027
Operating costs and expenses:        
Facilitation, origination and servicing (including costs charged by related parties of RMB118,849, RMB116,511 and RMB123,968 for the years ended December 31, 2023, 2024 and 2025, respectively) 3,001,938 429,271 2,900,704 2,659,912
Funding costs 548,936 78,497 590,935 645,445
Sales and marketing (including expenses charged by related parties of RMB223,627, RMB103,786 and RMB156,020 for the years ended December 31, 2023, 2024 and 2025, respectively) 2,469,546 353,140 1,725,877 1,939,885
General and administrative (including expenses charged by related parties of RMB13,610, RMB13,110 and RMB12,263 for the years ended December 31, 2023, 2024 and 2025, respectively) 658,980 94,233 449,505 421,076
Provision for loans receivable 3,625,042 518,374 2,773,323 2,151,046
Provision for financial assets receivable (including provision generated from related parties of RMB633, RMB(200) and RMB(1,150) for the years ended December 31, 2023, 2024 and 2025, respectively) 234,924 33,594 296,857 386,090
Provision for accounts receivable and contract assets (including provision generated from related parties of RMB(10,197), RMB1,861 and RMB(1,523) for the years ended December 31, 2023, 2024 and 2025, respectively) 319,532 45,692 421,481 175,799
Provision for contingent liabilities 1,667,742 238,484 478,404 3,053,810
Total operating costs and expenses 12,526,640 1,791,285 9,637,086 11,433,063
Income from operations 6,678,419 955,002 7,528,570 4,856,964
Interest income, net 278,626 39,843 237,015 217,307
Foreign exchange gain 159,570 22,818 1,512 2,356
Fair value change of derivatives (175,691) (25,123)    
Gain on debt extinguishment 270,135 38,629    
Investment loss | ¥       (30,112)
Other income, net 165,076 23,606 125,325 230,936
Income before income tax expense 7,376,135 1,054,775 7,892,422 5,277,451
Income tax expense (1,400,492) (200,268) (1,644,306) (1,008,874)
Net income 5,975,643 854,507 6,248,116 4,268,577
Net loss attributable to non-controlling interests 14,048 2,009 16,198 16,759
Net income attributable to ordinary shareholders of the Company ¥ 5,989,691 $ 856,516 ¥ 6,264,314 ¥ 4,285,336
Net income per ordinary share attributable to ordinary shareholders of Qfin Holdings, Inc.        
Basic (Per share) | (per share) ¥ 22.48 $ 3.21 ¥ 21.02 ¥ 13.36
Diluted (Per share) | (per share) ¥ 22.01 $ 3.15 ¥ 20.64 ¥ 13.04
Weighted average shares used in calculating net income per ordinary share        
Basic (in shares) 266,496,992 266,496,992 298,012,150 320,749,805
Diluted (in shares) 272,171,878 272,171,878 303,449,864 328,508,945
ADS        
Net income per ordinary share attributable to ordinary shareholders of Qfin Holdings, Inc.        
Basic (Per share) | (per share) [1] ¥ 44.96 $ 6.42 ¥ 42.04 ¥ 26.72
Diluted (Per share) | (per share) [1] ¥ 44.02 $ 6.3 ¥ 41.28 ¥ 26.08
Credit driven services        
Revenue, net of value-added tax and related surcharges:        
Total net revenue ¥ 13,977,218 $ 1,998,716 ¥ 11,719,027 ¥ 11,738,560
Loan facilitation and servicing fees-capital heavy        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 1,604,903 229,498 1,016,514 1,667,119
Financing income        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 8,569,063 1,225,360 6,636,511 5,109,921
Revenue from releasing of guarantee liabilities        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 3,412,952 488,046 3,695,017 4,745,898
Other services fees        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 390,300 55,812 370,985 215,622
Platform services        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 5,227,841 747,571 5,446,629 4,551,467
Loan facilitation and servicing fees-capital light        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 1,162,563 166,244 2,116,797 3,213,955
Referral services fees        
Revenue, net of value-added tax and related surcharges:        
Total net revenue 2,738,786 391,641 2,842,637 950,016
Other services fees        
Revenue, net of value-added tax and related surcharges:        
Total net revenue ¥ 1,326,492 $ 189,686 ¥ 487,195 ¥ 387,496
[1] Based on ADS ratio of 1 ADS to 2 ordinary shares.