On August 15, Qifu Technology (NASDAQ: QFIN.US; HKEX: 03660) released its second quarter 2025 financial results. The report demonstrates the company's strong risk resilience and business durability amid a complex and volatile macroeconomic environment through optimizing risk management systems, expanding diversified funding channels, and deepening embedded finance deployment.
As of June 30, 2025, Qifu Technology's platform has cumulatively served 165 financial institutions, with registered users reaching 276 million, representing a 11.4% year-over-year increase. The cumulative number of credit-approved users grew to 60.2 million, up 12.3% year-over-year, while cumulative borrowing users reached 36.8 million, increasing 14.9% year-over-year. In the second quarter, the platform facilitated loan originations of 84.6 billion yuan, up 16% year-over-year, with outstanding loan balances reaching 140.1 billion yuan at quarter-end.
During the second quarter, Qifu Technology continued expanding diversified customer acquisition channels through embedded finance partnerships with extensive internet ecosystems, covering diverse scenarios including short videos, e-commerce, transportation, and food delivery, providing users with convenient and seamless lending experiences. Over half of new credit-approved users came from embedded finance partners, with loan volumes from this channel continuing to grow. The quarter saw 1.79 million new credit-approved users, up 40% year-over-year, with slight quarter-over-quarter optimization in unit credit costs. New borrowing users reached 1.23 million, up approximately 60% year-over-year. New credit-approved users from embedded finance channels increased 103% year-over-year, while loan volumes from this channel grew approximately 155% year-over-year.
In terms of financial performance, Qifu Technology's second quarter revenue reached 5.2 billion yuan, up 11.2% quarter-over-quarter and 25.4% year-over-year. Non-GAAP net income was 1.85 billion yuan.
Qifu Technology CEO and Director Wu Haisheng stated, "International trade tensions at the beginning of the quarter intensified economic uncertainty, prompting us to tighten risk management standards to address uncertain developments. For the second half of this year, we will continue maintaining prudence in business planning, persistently focusing on strengthening business quality and sustainability. This quarter, despite some industry assets facing liquidity challenges, our ABS issuance reached new highs while comprehensive funding costs decreased further quarter-over-quarter. Although macroeconomic challenges and uncertainties persist, our business continues demonstrating stability and operational resilience. Meanwhile, we will continue investing more resources in advancing AI applications throughout our credit service chain, providing superior and more efficient services to users and institutions. We believe these initiatives will help us better navigate the current macroeconomic environment and effectively capture long-term development opportunities through technological innovation, product upgrades, and collaborative partnerships."
CFO Xu Zuoli added, "Despite the continuously changing and uncertain macroeconomic environment, we are pleased to achieve solid financial performance once again. Second quarter total revenue was 5.22 billion yuan, with non-GAAP net income of 1.85 billion yuan. Operating cash flow reached approximately 2.62 billion yuan during the quarter. While maintaining steady performance, we prudently assess potential operational risks. In the second quarter, new provision ratios approached historical highs to reflect changing market conditions."