Qudian (QD, Financial) has announced its financial results for the third quarter, showcasing impressive growth. The company's revenue for Q3 reached 55 million RMB, marking an 85.8% increase compared to the same period last year. Net profit for the quarter was 132 million RMB, a significant turnaround from the net loss of 181 million RMB recorded in the previous year.
The non-GAAP diluted earnings per ADS were reported at 0.71 RMB. As of September 30, 2024, Qudian held cash and cash equivalents totaling 4.847 billion RMB, along with restricted cash amounting to 779.5 million RMB. Additionally, the net cash provided by operating activities in the third quarter of 2024 was 679.9 million RMB.