Forget about growth. Qifu shows it’s all about giving back to shareholders
In reporting its earnings for the fourth quarter of 2023, the online loan facilitator unveiled a plan to sharply ramp up its share buyback program Key Takeaways: Qifu’s revenue grew…
FAST NEWS: Supply chain financer Linklogis’ loss widens
The latest: Supply chain financing solutions provider Linklogis Inc. (9959.HK) said on Monday it expects to report a net loss of 455 million yuan ($63.4 million) to 465 million yuan for last…
FAST NEWS: Tongcheng Travel eyes major fintech acquisition
The latest: Tongcheng Travel Holdings Ltd. (0780.HK) announced Wednesday it has signed a letter of intent to acquire 55.14% of Guangzhou Lvjin Technology, a provider of digital financial services, for up…
Yixin steers away from young joint venture to stay focused on China auto market
The online car loan facilitator is pulling out of a 2-year-old tie-up as its state-owned partner seeks to take the venture into new unrelated areas Key Takeaways: Yixin will sell…
Lufax takes on more risk, makes Hong Kong acquisition, as its lending shrivels
The online loan facilitator’s revenue plunged 39% in the third quarter, as its loan delinquency rates rose sharply from a year earlier Key Takeaways: Lufax’s new loan originations fell 59%…
Online lenders cool as China’s economic rebound wobbles
Lufax, Qifu and FinVolution face difficulties growing while also managing risk in a slowing economy, their latest quarterly results show Key Takeaways: Online loan facilitators Lufax and Qifu both reported…
FAST NEWS: Linklogis falls into the red as customers struggle
The latest: Supply chain financing solutions provider Linklogis Inc. (9959.HK) announced last Friday it expects to record a net loss between 165 million yuan ($22.7 million) and 175 million yuan in the…