Qudian Inc. Reports Highlights of Financial Performance for 2024

Financial Overview of Qudian Inc. for 2024

On March 20, 2025, Qudian Inc., a technology company based in China, released its unaudited financial results for the quarter and full year ending December 31, 2024. The report provides crucial insights into the company's performance, reflecting both accomplishments and challenges faced throughout the fiscal year.

Fourth Quarter Financial Breakdown

In the fourth quarter, Qudian's total revenues reached RMB 52.2 million (~$7.2 million), witnessing a decline from RMB 63.8 million during the same period last year. This decrease can primarily be attributed to mounting competition within the last-mile delivery sector. The company recorded a net loss attributable to its shareholders of RMB 66.4 million (~$9.1 million), which is significantly improved compared to RMB 117.1 million recorded in the previous year's fourth quarter. The net loss per diluted American depositary share (ADS) stood at RMB 0.38 (~$0.05) for this quarter.

Excluding share-based compensation expenses, the non-GAAP net loss was RMB 64.2 million (~$8.8 million), representing a notable decrease from RMB 116.6 million in the fourth quarter of 2023. The non-GAAP net loss per diluted ADS was reported at RMB 0.37 (~$0.05).

Full Year Financial Summary

For the entire year of 2024, Qudian saw a revenue increase of 71.3%, totaling RMB 216.4 million (~$29.7 million), driven primarily by enhanced sales from the last-mile delivery business. The company reported a net income attributable to shareholders of RMB 91.7 million (~$12.6 million), a substantial growth compared to RMB 39.1 million in 2023. On a per diluted ADS basis, the net income was RMB 0.49 (~$0.07).

In terms of non-GAAP metrics, Qudian's net income attributable to shareholders amounted to RMB 94.0 million (~$12.9 million), an increase from RMB 44.1 million in the preceding year, resulting in a non-GAAP net income per diluted ADS of RMB 0.50 (~$0.07).

Analysis of Operating Costs

Operating costs and expenses for the fourth quarter decreased from RMB 184.1 million to RMB 163.7 million, with a notable reduction in costs related to revenue generation, which fell by 39.0%. In contrast, general and administrative expenses saw an increase of 49.1%, mainly due to higher staff compensations.

While the overall operating environment showed signs of stabilization, competitive pressures in the last-mile delivery service cultivated challenges for Qudian. The reported loss from operations during this quarter was RMB 111.3 million (~$15.2 million), compared to RMB 107.2 million for Q4 2023.

Update on Last-mile Delivery Business

The last-mile delivery segment, which Qudian has highlighted as a growth area, faces significant competitive challenges. Despite these hurdles, this segment has shown resilience, with a revenue of approximately RMB 50.3 million in Q4 2024, indicating a drop from RMB 62.1 million, showcasing the impact of intensified competition.

Future Outlook and Cash Management

Looking ahead, Qudian remains focused on navigating its business transition effectively while enforcing stringent cash management practices to strengthen its balance sheet. The Board has also approved a share repurchase program in March 2024, allowing purchases up to $300 million worth of Class A ordinary shares or ADS during the following 36 months.

Leading into the future, Qudian's management emphasizes innovation while addressing competitive pressures in the last-mile logistics sector. With strong backing from its operational capabilities, the company anticipates aligning its strategies with the evolving market demands, providing enhanced service offerings to consumers engaged in cross-border e-commerce transactions.

In summary, Qudian's financial report serves as an essential touchpoint for stakeholders, shedding light on the company's commitment to improving performance through strategic investments, thoughtful cash flow management, and the adaptation of its operational model in an evolving landscape. For more detailed insights, stakeholders and investors are encouraged to review the company's financial reports and updates on their official communication channels.