The stock of 360 DigiTech, Inc. (QFIN) plunged in the pre-market after reporting the financial performance for Q4 and FY2021. QFIN stock closed the regular trading session at $13.23, losing 17.11% from the previous day’s trading session. On the last check, the stock price followed a bearish pattern, further losing 9.37% to $11.99 in the pre-market. The company also filed form 6-K with the SEC.
QFIN Financials for Q4
On 10 March 2022, QFIN reported the fiscal performance for Q4 of FY21. The key points of Q4 performance are
- The company had a total sales of ¥4 billion in Q4 of FY21 versus ¥3.3 billion in the year-ago period. The sales expanded by 32.4%.
- QFIN had a total income of ¥3 billion in Q4 of FY21 compared to ¥1.2 billion in the same period of last year. The total income increased by 3.8%.
- Moreover, the company reported an EPS of ¥11 in Q4 of FY21 against ¥3.86 in Q4 of FY20. The EPS beats the estimates by giving a surprise of 9.24%.
QFIN Financials for FY2021
The company also reported the fiscal performance for FY2021. The highlights of FY2021 are
- QFIN reported the total sales in FY21 to be ¥6 billion compared to ¥13.5 billion in FY20. This marks an increase of 22.6% in the total sales.
- Moreover, the company reported the total income in FY21 to be ¥7 billion versus ¥3.4 billion in FY20. The total income grew by 39.3%.
- Further, QFIN had an EPS of ¥99 in FY21 against the EPS of ¥11.40 in the previous year. The EPS increased by 57.8%.
CEO Remarks
The CEO of QFIN, Haisheng Wu, stated that they are satisfied to report a solid quarter and close the year with record-breaking functional and fiscal outcomes. He further added that they will additionally improve the web client securing channels. They are empowered by the remarks from economic policy creators showing consistent help to sound advancement in both customer and SME markets.
About QFIN
360 DigiTech Inc is an information-driven, innovation-engaged computerized stage. Through its foundation the firm empowers financial organizations to give better and designated items and administrations to a more extensive shopper base. QFIN has a market cap of $2.02 million with 152.40 million pending shares. The company has its base in Shanghai, China.