Qifu Technology's Chairman Zhou Hongyi Resigns, Company Updates and Outlook

TapTechNews August 14th news, Qifu Technology announced today that Zhou Hongyi has resigned as the company's chairman and director, and is no longer a member of the company's board of directors.

The announcement stated:

Mr. Zhou Hongyi resigned as a director and chairman of the board (the Board) of the company due to personal reasons. The Board has approved the appointment of Mr. Zhao Fan (Mr. Zhao) as the chairman of the Board and the appointment of Mr. Liu Xiangge (Mr. Liu) as an independent director of the Board, effective August 13, 2024.

Qifu Technology stated that for a long time, Qifu Technology has maintained strategic and operational independence. In 2023, the company changed its name from 360 Digital Technology to Qifu Technology, and this year it also upgraded its 360 IOU App to Qifu IOU.

TapTechNews noted that Qifu Technology also released its 2024 second-quarter financial results. The data showed that Qifu Technology's revenue in the second quarter of 2024 was 4.16 billion yuan, an increase of 6.28% year-on-year; the net profit was 1.3765 billion yuan, an increase of 25.9% year-on-year; the net profit attributable to common shareholders of the company was 1.381 billion yuan, an increase of 25.8% year-on-year.

Looking forward to the third quarter, Qifu Technology intends to take a cautious attitude in its business planning. The management will continue to focus on risk management and improving the company's profitability and operational efficiency. Therefore, in the third quarter of 2024, Qifu Technology is expected to generate a net profit of 1.50 billion to 1.60 billion yuan and a non-GAAP net profit of 1.55 billion to 1.65 billion yuan, an increase of 31% to 40% year-on-year.