XIAMEN, China, June 21, 2019 /PRNewswire/ -- Qudian Inc.
("Qudian" or the "Company") (NYSE: QD), a leading provider of
online small consumer credit products in China, today announced that based on its
latest operational outlook and market conditions, as well as
preliminary expectations of the relevant regulatory environment in
the near future, the Company raised its total non-GAAP net income
guidance for the full year of 2019 from greater than RMB3.5 billion, as announced on December 13, 2018, to greater than RMB4.5 billion.
Mr. Min Luo, Founder, Chairman and Chief Executive Officer
of Qudian said, "We are pleased to announce upwardly adjusted
non-GAAP net income guidance for the full year based on encouraging
trends in our business. Thanks to strong momentum in our open
platform initiative, Qudian is generating a higher level of
no-risk, high margin incremental profits than we had anticipated.
Additionally, given our sufficient funding and strong user demand,
growth of our loan book is well ahead of our previously set
targets, giving us strong confidence that we will meet our revised
guidance. With the right growth strategy in place we are excited
about Qudian's ability to deliver value for our shareholders."
About Qudian Inc.
Qudian Inc. ("Qudian") is a leading provider of online small
consumer credit in China. The Company uses big data-enabled
technologies, such as artificial intelligence and machine learning,
to transform the consumer finance experience in China. With
the mission to use technology to make personalized credit
accessible, Qudian targets hundreds of millions of young,
mobile-active consumers in China who need access to small
credit for their discretionary spending or budget auto financing
solutions but are underserved by traditional financial institutions
due to lack of traditional credit data. Qudian's data technology
capabilities combined with its operating efficiencies allow Qudian
to understand prospective borrowers from different behavioral and
transactional perspectives, assess their credit profiles with
regard to both their willingness and ability to repay and offer
them instantaneous and affordable credit products with customized
terms, and distinguish Qudian's business and offerings.
For more information, please visit ir.qudian.com.
Use of Non-GAAP Financial Measures
We use adjusted net income, a Non-GAAP financial measure, in
evaluating our operating results and for financial and operational
decision-making purposes. We believe that adjusted net income helps
identify underlying trends in our business by excluding the impact
of share-based compensation expenses, which are non-cash charges.
We believe that adjusted net income 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 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.
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:
Investor Relations
Annie Huang
Director of Capital Markets
Tel: +86-592-591-1580
E-mail: ir@qudian.com
Media
The Foote Group
Philip Lisio
Tel: +86-135-0116-6560
E-mail: qudian@thefootegroup.com
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SOURCE Qudian Inc.