XIAMEN, China, June 15, 2021 /PRNewswire/ -- Qudian Inc.
("Qudian" or "the Company" or "We") (NYSE: QD), a leading
technology platform empowering the enhancement of online consumer
finance experience in China, today
announced its unaudited financial results for the quarter ended
March 31, 2021.
First Quarter 2021 Operational Highlights:
- Number of outstanding borrowers[1] from loan book
business as of March 31, 2021
decreased by 8.0% to 3.0 million from 3.2 million as of
December 31, 2020 as a result of the
conservative and prudent strategy which the Company has
deployed
- Total outstanding loan balance from loan book
business[2] decreased by 15.1%
to RMB4.1 billion as of March 31,
2021, compared to the outstanding balance as of December 31, 2020
- Amount of transactions from loan book business for
this quarter decreased by 8.4% to RMB4.4
billion from the fourth quarter of 2020; Amount of
transactions serviced on open platform for this quarter
decreased by 15.2% to RMB210.4
million from the fourth quarter of 2020
- Weighted average loan tenure for our loan book business
was 4.5 months for this quarter, compared with 4.5 months for the
fourth quarter of 2020; Weighted average loan tenure for
transactions serviced on open platform was 6.7 months for this
quarter, compared with 6.4 months for the fourth quarter of
2020
[1] Outstanding borrowers are
borrowers who have outstanding loans from the Company's loan book
business as of a particular date.
[2] Includes (i) off and on balance
sheet loans directly or indirectly funded by our institutional
funding partners or our own capital, net of cumulative write-offs
and (ii) does not include auto loans from Dabai Auto
business.
|
First Quarter 2021 Financial Highlights:
- Total revenues were RMB515.7
million (US$78.7 million),
representing a decrease of 46.2% from the same period of last
year
- Net income attributable to Qudian's shareholders were
RMB478.4 million (US$73.0 million), compared to a loss of
RMB486.5 million from the same period
of last year, or RMB1.81 (US$0.28) per diluted ADS
- Non-GAAP net income attributable to Qudian's
shareholders[3] were RMB488.3
million (US$74.5 million),
compared to non-GAAP net loss attributable to Qudian's shareholders
of RMB907.5 million from the same
period of last year, or RMB1.85
(US$0.28) per diluted ADS
[3] For more information on
this Non-GAAP financial measure, please see the table captioned
"Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth
at the end of this press release.
|
"In the first quarter of 2021, we continued to execute a prudent
operational strategy related to our cash credit business amid an
evolving regulatory environment, while making significant strides
to advance our early childhood education business initiative," said
Mr. Min Luo, Founder, Chairman and
Chief Executive Officer of Qudian. "Our stringent credit risk
control measures further improved our asset quality, evidenced by
the continued decrease of the D1 delinquency rate for our loan book
business[4], which dropped to a normal level of less
than 5% as of March 31. Importantly,
our net assets increased to RMB12.4
billion at the end of the first quarter with cash and
cash equivalents and short-term investments of RMB7.3 billion, mainly in highly liquid wealth
management products. Our ability to maintain a solid balance sheet
with sufficient liquidity lays a strong foundation to navigate our
loan book business through challenging market dynamics, as well as
providing funds to build out new
business avenues, including our investment in the massive and
underserved early childhood extra-curricular enrichment education
market."
"We are delighted to officially launch our first WLM KIDS
activities center in January in Xiamen. The opening marked a major milestone
in the development of our early childhood education business, where
we strive to provide a comprehensive suite of one-stop services for
children's extra-curricular enrichment. As we work to open more WLM
KIDS activities centers in cities across the nation, we are
advancing our mission to help children in China grow up both happy and healthy. The
incremental spending in our WLM KIDS business may place pressure on
our profitability in the near term, but we believe over the long
term the WLM KIDS business will enjoy superior unit economics
compared with many other offline businesses. Supported by our
strong financial position, we remain optimistic that we can
continue to grow our overall business and deliver sustainable value
to our shareholders," said Ms. Sissi
Zhu, Vice President of Investor Relations of Qudian.
[4] "D1 delinquency rate" is defined
as (i) the total amount of principal and financing service
fees that became overdue as of a specified date, divided by
(ii) the total amount of principal and financing services fees
that was due for repayment as of such date, in each case with
respect to our loan book business.
|
First Quarter Financial Results
Total revenues were RMB515.7 million (US$78.7
million), representing a decrease of 46.2% from RMB957.9 million for the first quarter of
2020.
Financing income totaled RMB361.8 million (US$55.2
million), representing a decrease of 41.9% from
RMB622.7 million for the
first quarter of 2020, as a result of the decrease in the
average on-balance sheet loan balance.
Loan facilitation income and other related income
decreased by 97.1% to RMB12.2 million
(US$1.9 million) from RMB422.4 million for the first quarter of 2020,
as a result of the reduction in transaction volume of off-balance
sheet loans during this quarter.
Transaction services fee and other related income
increased to RMB50.6 million
(US$7.7 million) from a loss of
RMB150.4 million for
the first quarter of 2020, mainly as a result of the
reassessment of variable consideration.
Sales income and others increased to RMB62.5 million (US$9.5
million) from RMB17.1 million
for the first quarter of 2020, mainly due to sales related to
the Wanlimu e-commerce platform.
Sales commission fee decreased by 68.1% to
RMB10.7 million (US$1.6 million) from RMB33.7 million for the first quarter of
2020, due to the decrease in the amount of merchandise credit
transactions.
Total operating costs and expenses decreased by
96.9% to RMB63.3 million
(US$9.7 million) from RMB2,066.6 million for the first quarter of
2020.
Cost of revenues decreased by 4.8% to
RMB91.0 million (US$13.9 million) from RMB95.6 million for the first quarter of 2020,
primarily due to the decrease in funding costs associated with
the on-balance sheet loan book business, partially offset by
the increase in cost of goods sold related to the Wanlimu
e-commerce platform.
Sales and marketing expenses decreased by
36.1% to RMB37.6 million
(US$5.7 million) from RMB58.8 million for the first quarter of
2020, primarily due to the decrease in third-party service fees and
marketing promotional expenses.
General and administrative
expenses decreased by 12.9% to RMB66.7 million (US$10.2 million) from RMB76.6
million for the first quarter of 2020, as a result of the
decrease in staff salaries.
Research and development
expenses decreased by 28.4% to RMB39.2 million (US$6.0 million) from RMB54.7 million for the first quarter of
2020, as a result of the decrease in staff salaries.
Provision for receivables and other
assets was a reversal of RMB106.8 million (US$16.3 million), compared to a loss of
RMB1,108.5 million for the first
quarter of 2020, mainly due to the decrease in past-due on-balance
sheet outstanding principal receivables compared to the first
quarter of 2020.
As of March 31, 2021, the total balance of outstanding
principal and financing service fee receivables for on-balance
sheet transactions for which any installment payment was more than
30 calendar days past due was RMB203.0
million (US$31.0 million), and
the balance of allowance for principal and financing service fee
receivables at the end of the period
was RMB546.5 million (US$83.4
million), indicating M1+ Delinquency Coverage Ratio of
2.7x.
The following charts display the "vintage charge-off rate."
Total potential receivables at risk vintage charge-off rate refers
to, with respect to on- and off-balance sheet transactions
facilitated under the loan book business during a specified time
period, the total potential outstanding principal balance of the
transactions that are delinquent for more than 180 days up to
twelve months after origination, divided by the total initial
principal of the transactions facilitated in such vintage.
Delinquencies may increase or decrease after such 12-month
period.
Current receivables at risk vintage charge-off rate refers to,
with respect to on- and off-balance sheet transactions facilitated
under the loan book business during a specified time period, the
actual outstanding principal balance of the transactions that are
delinquent for more than 180 days up to twelve months after
origination, divided by the total initial principal of the
transactions facilitated in such vintage. Delinquencies may
increase or decrease after such 12-month period.
Total potential receivables at risk M1+ delinquency rate by
vintage refers to, with respect to on- and off-balance sheet
transactions facilitated under the loan book business during a
specified time period, the total potential outstanding principal
balance of the transactions that are delinquent for more than 30
days up to twelve months after origination, divided by the total
initial principal of the transactions facilitated in such vintage.
Delinquencies may increase or decrease after such 12-month
period.
Current receivables at risk M1+ delinquency rate by vintage
refers to, with respect to on- and off-balance sheet transactions
facilitated under the loan book business during a specified time
period, the actual outstanding principal balance of the
transactions that are delinquent for more than 30 days up to twelve
months after origination, divided by the total initial principal of
the transactions facilitated in such vintage. Delinquencies may
increase or decrease after such 12-month period.
Income from operations was RMB464.8 million (US$70.9 million), as compared to a loss of
RMB961.1 million for the first
quarter of 2020.
Net income attributable to
Qudian's
shareholders was RMB478.4
million (US$73.0 million), or
RMB1.81 (US$0.28) per diluted ADS.
Non-GAAP net income attributable to Qudian's
shareholders was RMB488.3
million (US$74.5 million), or
RMB1.85 (US$0.28) per diluted ADS.
Cash Flow
As of March 31, 2021, the Company
had cash and cash equivalents of RMB2,187.5
million (US$333.9 million) and
restricted cash
of RMB234.1 million (US$35.7 million). Restricted cash mainly
represents (i) cash held by the consolidated trusts through
segregated bank accounts; and (ii) security deposits held in
designated bank accounts for the guarantee of off-balance sheet
transactions. Such restricted cash is not available to fund the
general liquidity needs of the Company.
For the first quarter of 2021, net cash provided by
operating activities was RMB202.7
million (US$30.9 million),
mainly attributable to net income of RMB478.2 million (US$73.0
million) and partially offset by the change in other current
and non-current assets of RMB252.3
million (US$38.5 million).
Net cash provided by investing
activities was RMB499.2 million (US$76.2 million), mainly due to net proceeds from
collection of loan principal and partially offset by net payments
to originate loan principal. Net cash provided by financing
activities was RMB43.0
million (US$6.5 million), mainly
due to proceeds from borrowings.
Conference Call
The Company's management will host an earnings conference call
on June 15, 2021 at 7:00 AM U.S. Eastern Time (7:00 PM Beijing/Hong Kong Time). Details for
the conference call are as follows:
Title of
Event:
|
Qudian Inc. First
Quarter 2021 Earnings Conference Call
|
Conference
ID:
|
8562567
|
Registration
link:
|
http://apac.directeventreg.com/registration/event/8562567
|
For participants who wish to join the call, please complete the
online registration at least 15 minutes prior to the scheduled call
start time. Upon registration, participants will receive the
conference call access information, including participant dial-in
numbers, a Direct Event Passcode, a unique Registrant ID, and an
e-mail with detailed instructions to join the conference call.
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
http://ir.qudian.com.
A replay of the conference call will be accessible approximately
two hours after the conclusion of the live call until June 22, 2021, by dialing the following telephone
numbers:
United
States:
|
+1-855-452-5696
(toll-free) / +1-646-254-3697
|
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International:
|
+61-2-8199-0299
|
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Hong Kong,
China:
|
800-963-117
(toll-free) / +852-3051-2780
|
|
|
Mainland
China:
|
400-632-2162 /
800-870-0205 (toll-free)
|
|
|
Passcode:
|
8562567
|
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About Qudian Inc.
Qudian Inc. ("Qudian") is a leading technology platform
empowering the enhancement of online consumer finance experience in
China. The Company's mission is to
use technology to make personalized credit accessible to hundreds
of millions of young, mobile-active consumers in China who need access to small credit for
their discretionary spending but are underserved by traditional
financial institutions due to lack of traditional credit data or
high cost of servicing. Qudian's credit solutions enable licensed,
regulated financial institutions and ecosystem partners to offer
affordable and customized loans to this young generation of
consumers.
For more information, please
visit http://ir.qudian.com.
Use of Non-GAAP Financial Measures
We use adjusted net income/loss, a Non-GAAP financial measure,
in evaluating our operating results and for financial and
operational decision-making purposes. We believe that adjusted net
income/loss helps identify underlying trends in our business by
excluding the impact of share-based compensation expenses, which
are non-cash charges, and convertible bonds buyback income. We
believe that adjusted net income/loss provides useful information
about our operating results, enhances the overall understanding of
our past performance and future prospects and allows for greater
visibility with respect to key metrics used by our management in
its financial and operational decision-making.
Adjusted net income/loss is not defined under U.S. GAAP and are
not presented in accordance with U.S. GAAP. This Non-GAAP financial
measure has limitations as analytical tools, and when assessing our
operating performance, cash flows or our liquidity, investors
should not consider them in isolation, or as a substitute for net
loss / income, cash flows provided by operating activities or other
consolidated statements of operation and cash flow data prepared in
accordance with U.S. GAAP.
We mitigate these limitations by reconciling the Non-GAAP
financial measure to the most comparable U.S. GAAP performance
measure, all of which should be considered when evaluating our
performance.
For more information on this Non-GAAP financial measure, please
see the table captioned "Unaudited Reconciliation of GAAP and
Non-GAAP Results" set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars ("US$") at specified rates solely for the
convenience of the reader. Unless otherwise stated, all
translations from RMB to US$ were made at the rate
of RMB6.5518 to US$1.00, the noon buying rate in effect
on March 31, 2021 in the H.10
statistical release of the Federal Reserve Board. The Company makes
no representation that the RMB or US$ amounts referred could be
converted into US$ or RMB, as the case may be, at any particular
rate or at all.
Statement Regarding Preliminary Unaudited Financial
Information
The unaudited financial information set out in this earnings
release is preliminary and subject to potential adjustments.
Adjustments to the consolidated financial statements may be
identified when audit work has been performed for the Company's
year-end audit, which could result in significant differences from
this preliminary unaudited financial information.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency, contain forward-looking statements. Qudian may also
make written or oral forward-looking statements in its periodic
reports to the SEC, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Qudian's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Qudian's
goal and strategies; Qudian's expansion plans; Qudian's future
business development, financial condition and results of
operations; Qudian's expectations regarding demand for, and market
acceptance of, its credit products; Qudian's expectations regarding
keeping and strengthening its relationships with borrowers,
institutional funding partners, merchandise suppliers and other
parties it collaborate with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Qudian's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Qudian does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries, please contact:
Qudian Inc.
Tel: +86-592-591-1711
E-mail: ir@qudian.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
QUDIAN
INC.
|
|
|
|
Unaudited
Condensed Consolidated Statements of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
March 31,
|
(In thousands except
for number
|
|
|
2020
|
|
2021
|
of shares and
per-share data)
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
Financing
income
|
|
|
622,683
|
|
361,754
|
|
55,215
|
Sales commission
fee
|
|
|
33,713
|
|
10,748
|
|
1,640
|
Sales income and
others
|
|
|
17,056
|
|
62,530
|
|
9,544
|
Penalty
fee
|
|
|
12,381
|
|
17,823
|
|
2,720
|
Loan facilitation
income and other related income
|
|
422,443
|
|
12,200
|
|
1,862
|
Transaction services
fee and other related income
|
|
(150,415)
|
|
50,649
|
|
7,731
|
|
|
|
|
|
|
|
|
Total
revenues
|
|
|
957,861
|
|
515,704
|
|
78,712
|
|
|
|
|
|
|
|
|
Operating cost and
expenses:
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
(95,615)
|
|
(91,012)
|
|
(13,891)
|
Sales and
marketing
|
|
|
(58,805)
|
|
(37,559)
|
|
(5,733)
|
General and
administrative
|
|
|
(76,550)
|
|
(66,693)
|
|
(10,179)
|
Research and
development
|
|
|
(54,725)
|
|
(39,190)
|
|
(5,982)
|
Changes in guarantee
liabilities and risk assurance liabilities(1)
|
(672,408)
|
|
64,379
|
|
9,826
|
Provision for
receivables and other assets
|
|
|
(1,108,451)
|
|
106,809
|
|
16,302
|
Total operating
cost and expenses
|
|
|
(2,066,554)
|
|
(63,266)
|
|
(9,657)
|
Other operating
income
|
|
|
147,571
|
|
12,371
|
|
1,888
|
|
|
|
|
|
|
|
|
Income/(Loss) from
operations
|
|
|
(961,122)
|
|
464,809
|
|
70,943
|
Interest and
investment income, net
|
|
|
436,042
|
|
87,892
|
|
13,415
|
Foreign exchange
loss, net
|
|
|
(4,635)
|
|
(219)
|
|
(33)
|
Other
income
|
|
|
15,315
|
|
5,094
|
|
777
|
Other
expenses
|
|
|
(189)
|
|
(206)
|
|
(31)
|
|
|
|
|
|
|
|
|
Net income/(loss)
before income taxes
|
|
|
(514,588)
|
|
557,370
|
|
85,071
|
Income tax
(expenses)/benefit
|
|
|
28,108
|
|
(79,175)
|
|
(12,084)
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
|
(486,480)
|
|
478,195
|
|
72,987
|
Less: net loss
attributable to non-controlling interest
shareholders
|
|
|
-
|
|
(167)
|
|
(25)
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to Qudian Inc.'s
shareholders
|
|
|
(486,480)
|
|
478,362
|
|
73,012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share
for Class A and Class B ordinary
shares:
|
|
|
|
|
|
|
|
Basic
|
|
|
(1.92)
|
|
1.89
|
|
0.29
|
Diluted
|
|
|
(1.92)
|
|
1.81
|
|
0.28
|
|
|
|
|
|
|
|
|
Earnings per ADS (1
Class A ordinary share equals 1
ADSs):
|
|
|
|
|
|
|
|
Basic
|
|
|
(1.92)
|
|
1.89
|
|
0.29
|
Diluted
|
|
|
(1.92)
|
|
1.81
|
|
0.28
|
|
|
|
|
|
|
|
|
Weighted average
number of Class A and Class B
ordinary shares outstanding:
|
|
|
|
|
|
|
|
Basic
|
|
|
253,874,830
|
|
253,044,009
|
|
253,044,009
|
Diluted
|
|
|
253,874,830
|
|
266,647,286
|
|
266,647,286
|
|
|
|
|
|
|
|
|
Other
comprehensive gain/(loss):
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
|
|
(1,377)
|
|
2,260
|
|
345
|
|
|
|
|
|
|
|
|
Total
comprehensive income/(loss)
|
|
|
(487,857)
|
|
480,622
|
|
73,357
|
|
|
|
|
|
|
|
|
Total
comprehensive income/(loss) attributable to
Qudian Inc.'s shareholders
|
|
|
(487,857)
|
|
480,622
|
|
73,357
|
|
|
|
|
|
|
|
|
Note:
(1):The amount includes the change in fair value of the guarantee
liabilities accounted in accordance with ASC
815,"Derivative", and the change in risk
assurance liabilities accounted in accordance with ASC 450,
"Contingencies" and ASC 460, "Guarantees".
|
QUDIAN
INC.
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December
31,
|
|
As of March
31,
|
(In thousands except
for number
|
|
|
2020
|
|
2021
|
of shares and
per-share data)
|
|
|
(Audited)
|
|
(Unaudited)
|
(Unaudited)
|
|
|
|
RMB
|
|
RMB
|
US$
|
ASSETS:
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
1,537,558
|
|
2,187,502
|
333,878
|
Restricted
cash
|
|
|
135,404
|
|
234,112
|
35,732
|
Short-term
investments
|
|
|
5,042,314
|
|
5,079,154
|
775,230
|
Short-term loan
principal and financing service fee receivables
|
|
|
3,940,461
|
|
3,515,293
|
536,539
|
Short-term
finance lease receivables
|
|
|
179,613
|
|
128,830
|
19,663
|
Short-term
contract assets
|
|
|
92,813
|
|
50,077
|
7,643
|
Other current
assets
|
|
|
762,313
|
|
1,006,670
|
153,649
|
Total
current assets
|
|
|
11,690,476
|
|
12,201,638
|
1,862,334
|
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
|
Long-term
finance lease receivables
|
|
|
28,771
|
|
11,795
|
1,800
|
Operating lease
right-of-use assets
|
|
|
210,898
|
|
296,253
|
45,217
|
Investment in
equity method investee
|
|
|
349,276
|
|
381,287
|
58,196
|
Long-term
investments
|
|
|
209,868
|
|
243,668
|
37,191
|
Property and
equipment, net
|
|
|
302,969
|
|
359,955
|
54,940
|
Intangible
assets
|
|
|
8,478
|
|
8,926
|
1,362
|
Long-term
contract assets
|
|
|
23,094
|
|
10,317
|
1,575
|
Deferred tax
assets, net
|
|
|
154,960
|
|
119,138
|
18,184
|
Other
non-current assets
|
|
|
419,242
|
|
425,464
|
64,938
|
Total
non-current assets
|
|
|
1,707,556
|
|
1,856,803
|
283,403
|
|
|
|
|
|
|
|
TOTAL
ASSETS
|
|
|
13,398,032
|
|
14,058,441
|
2,145,737
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
QUDIAN
INC.
|
Unaudited
Condensed Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December
31,
|
|
As of March
31,
|
(In thousands except
for number
|
|
|
2020
|
|
2021
|
of shares and
per-share data)
|
|
|
(Audited)
|
|
(Unaudited)
|
(Unaudited)
|
|
|
|
RMB
|
|
RMB
|
US$
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Short-term
lease liabilities
|
|
|
23,763
|
|
41,543
|
6,341
|
Accrued
expenses and other current liabilities
|
|
|
336,790
|
|
351,417
|
53,637
|
Guarantee
liabilities and risk assurance liabilities(1)
|
|
|
31,400
|
|
21,583
|
3,294
|
Income tax
payable
|
|
|
80,656
|
|
100,054
|
15,271
|
Total
current liabilities
|
|
|
472,609
|
|
514,597
|
78,543
|
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
Deferred tax
liabilities, net
|
|
|
10,923
|
|
18,564
|
2,833
|
Convertible
senior notes
|
|
|
822,005
|
|
827,555
|
126,310
|
Long-term lease
liabilities
|
|
|
80,236
|
|
152,184
|
23,228
|
Long-term
borrowings and interest payables
|
|
|
102,415
|
|
145,312
|
22,179
|
|
|
|
|
|
|
|
Total
non-current liabilities
|
|
|
1,015,579
|
|
1,143,615
|
174,550
|
Total
liabilities
|
|
|
1,488,188
|
|
1,658,212
|
253,093
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity:
|
|
|
|
|
|
|
Class A
Ordinary shares
|
|
|
132
|
|
132
|
20
|
Class B
Ordinary shares
|
|
|
44
|
|
44
|
7
|
Treasury
shares
|
|
|
(371,551)
|
|
(368,681)
|
(56,272)
|
Additional
paid-in capital
|
|
|
4,007,260
|
|
4,014,320
|
612,704
|
Accumulated
other comprehensive loss
|
|
|
(51,420)
|
|
(49,160)
|
(7,503)
|
Retained
earnings
|
|
|
8,315,379
|
|
8,793,741
|
1,342,187
|
Total Qudian
Inc. shareholders' equity
|
|
|
11,899,844
|
|
12,390,396
|
1,891,143
|
|
|
|
|
|
|
|
Non-controlling interests
|
|
|
10,000
|
|
9,833
|
1,501
|
|
|
|
|
|
|
|
Total
equity
|
|
|
11,909,844
|
|
12,400,229
|
1,892,644
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
|
13,398,032
|
|
14,058,441
|
2,145,737
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
(1) The amount includes the balance of the guarantee liabilities
accounted in accordance with ASC 815,"Derivative", and the balance
of risk assurance
liabilities accounted in accordance with ASC 450, "Contingencies"
and ASC 460, "Guarantees".
|
QUDIAN
INC.
|
|
Unaudited
Reconciliation of GAAP And Non-GAAP Results
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
March 31,
|
|
|
|
2020
|
|
2021
|
(In thousands except
for number
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
of shares and
per-share data)
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net
income/(loss) attributable to Qudian Inc.'s
shareholders
|
|
(486,480)
|
|
478,362
|
|
73,012
|
Add: Share-based
compensation expenses
|
|
|
13,652
|
|
9,930
|
|
1,516
|
Less: Convertible
bonds buyback income
|
|
|
434,693
|
|
-
|
|
-
|
Non-GAAP net
income/(loss) attributable to Qudian Inc.'s
shareholders
|
|
(907,521)
|
|
488,292
|
|
74,528
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) per share—basic
|
|
|
(3.57)
|
|
1.93
|
|
0.29
|
Non-GAAP net
income/(loss) per share—diluted
|
|
|
(3.57)
|
|
1.85
|
|
0.28
|
Weighted average
shares outstanding—basic
|
|
|
253,874,830
|
|
253,044,009
|
|
253,044,009
|
Weighted average
shares outstanding—diluted
|
|
|
253,874,830
|
|
266,647,286
|
|
266,647,286
|
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SOURCE Qudian Inc.