奇富科技季报点评:监管调整下短期经营仍承压 长期增长根基坚实

中金公司
Nov 20, 2025

奇富科技3Q25 业绩符合我们预期奇富科技3Q25 持续经营业务放款量同比+1%/环比-2%至833 亿元,营收同比+19%/环比基本持平至52.1 亿元,非通用准则净利润同比-17%/环比-18%至15.1 亿元,符合我们此前预期。发展趋势经济监管不确定性推升短中期经营压力,新贷款质量向好初现。公司3Q25 净服务费率~4.5%,主要经济模型指标: 1)定价: 3Q 平均产品定价环比-0.5...

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