QD Overview

Financial Performance: Qudian Inc. reported total revenues of RMB8.5 million (US$1.2 million) for Q3 2025, a significant decrease from RMB55.0 million in the same quarter last year, primarily due to the winding down of its last-mile delivery business. However, net income attributable to shareholders rose to RMB409.9 million (US$57.6 million) compared to RMB131.9 million in Q3 2024.

Cost Management: Total operating costs decreased by 2.3% to RMB119.1 million (US$16.7 million), with a notable 86.6% drop in the cost of revenues, reflecting the reduced service costs associated with the last-mile delivery business. General and administrative expenses increased by 41.1% due to higher depreciation and property tax expenses.

Cash Flow and Investments: As of September 30, 2025, Qudian had cash and cash equivalents of RMB7,010.6 million (US$948.8 million) and net cash provided by operating activities was RMB384.0 million (US$53.9 million), largely from interest and investment income. The company also reported significant net cash from investing activities due to short-term investment redemptions.

Share Repurchase Program: Qudian's Board approved a share repurchase program in March 2024, allowing for the purchase of up to US$300 million in shares over 36 months. As of November 18, 2025, the company had repurchased 180.6 million ADSs for approximately US$765.3 million, averaging $4.2 per ADS.

Company Name Change: Qudian Inc. plans to change its English name to "High Templar Tech Limited" and its ticker symbol to "HTT," pending shareholder approval.

Extraordinary General Meeting: An extraordinary general meeting (EGM) is scheduled for December 10, 2025, to seek shareholder approval for the name change, with record holders eligible to vote.

Voting Process: Shareholders of ordinary shares must attend the EGM to vote, while holders of American Depositary Shares (ADSs) must vote through Deutsche Bank Trust Company Americas.

Company Overview: Qudian Inc. is a consumer-oriented technology company focused on leveraging technology to explore innovative business opportunities.

Director Resignation: Mr. Yingming Li has resigned from Qudian Inc.'s board of directors for personal reasons, effective September 23, 2025, and the company expressed gratitude for his service.

Company Overview: Qudian Inc. is a consumer-oriented technology company that historically focused on credit solutions and is now exploring innovative business opportunities to meet consumer demand through its technology capabilities.

U.S. Stock Market Performance: The U.S. stock market showed mixed results, with the Dow Jones gaining approximately 100 points on Friday, while Evolv Technologies Holdings saw a significant 15% increase in shares after reporting better-than-expected quarterly results.

Notable Stock Gains: Several companies experienced substantial stock price increases, including Precigen, Inc. (up 50%), Xunlei Limited (up 33%), and UnitedHealth Group Incorporated (up 10.3%) following positive financial disclosures and notable investments from prominent investors.