Qudian Inc. Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results

---

XIAMEN, China, Feb. 21, 2023 /PRNewswire/ -- Qudian Inc. ("Qudian" or "the Company" or "We") (NYSE: QD), a consumer-oriented technology company in China, today announced its unaudited financial results for the quarter and full year ended December 31, 2022.

Fourth Quarter 2022 Operational Highlights:

  • As a result of the Company's previously announced decision to cease new credit offerings after September 6, 2022, there was no outstanding loan balance[1] from the loan book business as of December 31, 2022. In addition, the Company did not facilitate any credit transactions in the fourth quarter of 2022.

[1] 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.

Fourth Quarter 2022 Financial Highlights:

  • Total revenues were RMB160.1 million (US$23.2 million), compared to RMB378.9 million for the same period of last year
  • Net income attributable to Qudian's shareholders was RMB490.1 million (US$71.1 million), compared to net loss of RMB65.1 million for the same period of last year; net income per diluted ADS was RMB2.07 (US$0.30) for the fourth quarter of 2022
  • Non-GAAP net income attributable to Qudian's shareholders was RMB493.3 million (US$71.5 million), compared to net loss of RMB59.3 million for the same period of last year. We exclude share-based compensation expenses and convertible bonds buyback income from our non-GAAP measures. Non-GAAP net income per diluted ADS was RMB2.08 (US$0.30) for the fourth quarter of 2022

Full Year 2022 Financial Highlights:

  • Total revenues were RMB577.5 million (US$83.7 million) for 2022, representing a decrease of 65.1% from 2021, primarily due to the decrease in the amount of credit transactions
  • Net loss attributable to Qudian's shareholders was RMB362.0 million (US$52.5 million), compared to an income of RMB589.1 million in 2021; net loss per diluted ADS was RMB1.47 (US$0.21) for 2022
  • Non-GAAP net loss attributable to Qudian's shareholders was RMB347.9 million (US$50.4 million), compared to an income of RMB612.4 million in 2021; non-GAAP net loss per diluted ADS was RMB1.41 (US$0.21) for 2022

"Macro headwinds and COVID disruptions created challenging business conditions in 2022. In this volatile environment, we prudently implemented our operating strategy while maintaining a healthy balance sheet by pursuing efficient cash management. We continued in the fourth quarter to execute our business transition, with the winding down of our loan book business to its final stage," said Mr. Min Luo, Founder, Chairman and Chief Executive Officer of Qudian. "As we enter 2023, we remain agile, navigating market dynamics and capitalizing on new business opportunities, including those overseas, committed, as always, to building long-term value for our shareholders."

Fourth Quarter Financial Results

Total revenues were RMB160.1 million (US$23.2 million), representing a decrease of 57.8% from RMB378.9 million for the fourth quarter of 2021.

Financing income totaled RMB29.3 million (US$4.2 million), representing a decrease of 90.1% from RMB296.4 million for the fourth quarter of 2021, as a result of the decrease in the average on-balance sheet loan balance.

Loan facilitation income and other related income decreased by 50.2% to RMB4.9 million (US$0.7 million) from RMB9.9 million for the fourth quarter of 2021, as a result of the wind down of off-balance sheet loans during this quarter. 

Transaction services fee and other related income increased to RMB102.6 million (US$14.9 million) from RMB41.6 million for the fourth quarter of 2021, primarily due to the change in estimate for variable consideration for the transactions facilitated in the past years.

Sales income and others increased to RMB19.3 million (US$2.8 million), which was mostly attributable to sales income generated by QD Food, compared with RMB7.2 million for the fourth quarter of 2021, which was mainly attributable to sales income generated by the Wanlimu Kids. We have wound down the QD Food business.

Total operating costs and expenses decreased to RMB108.8 million (US$15.8 million) from RMB387.8 million for the fourth quarter of 2021.

Cost of revenues increased by 92.4% to RMB73.7 million (US$10.7 million) from RMB38.3 million for the fourth quarter of 2021, primarily due to the inventory clearance relating to QD Food.

Sales and marketing expenses decreased by 33.4% to RMB18.5 million (US$2.7 million) from RMB27.8 million for the fourth quarter of 2021, primarily due to the winding down of the WLM Kids business.

General and administrative expenses decreased by 38.3% to RMB67.8 million (US$9.8 million) from RMB109.8 million for the fourth quarter of 2021, primarily due to the winding down of the WLM Kids business.

Research and development expenses decreased by 88.9% to RMB2.5 million (US$0.4 million) from RMB22.8 million for the fourth quarter of 2021, as a result of the decrease in staff head count, which led to a corresponding decrease in staff salaries and a decrease in third-party service fees.

Provision for receivables and other assets was a reversal of RMB140.7 million (US$20.4 million) for the fourth quarter of 2022, mainly due to the decrease in past-due on-balance sheet outstanding principal receivables.

Impairment loss from long-lived assets was RMB104.0 million (US$15.1 million) for the fourth quarter of 2022, as a result of the winding down of the WLM Kids business and QD Food business.

Income from operations was RMB66.1 million (US$9.6 million), compared to RMB47.8 million for the fourth quarter of 2021.

Net income attributable to Qudian's shareholders was RMB490.1 million (US$71.1 million). Net income per diluted ADS was RMB2.07 (US$0.30).

Non-GAAP net income attributable to Qudian's shareholders was RMB493.3 million (US$71.5 million). Non-GAAP net income per diluted ADS was RMB2.08 (US$0.30).

Full Year 2022 Financial Results

Total revenues were RMB577.5 million (US$83.7 million), a decrease of 65.1% from RMB1,654.0 million for 2021.

Financing income totaled RMB308.7 million (US$44.8 million), a decrease of 75.4% from RMB1,255.5 million for 2021, as a result of the decrease in the average on-balance sheet loan balance to zero as of the end of 2022.

Loan facilitation income and other related income decreased by 56.7% to RMB18.8 million (US$2.7 million) from RMB43.5 million for 2021, as a result of the wind down of off-balance sheet transactions.  

Transaction services fee and other related income was RMB113.8 million (US$16.5 million), compared to RMB151.7 million for 2021, primarily due to the change in estimate for variable consideration for the transactions facilitated in the past years.

Sales income and others decreased by 17.9% to RMB82.6 million (US$12.0 million) from RMB100.7 million for 2021, mainly due to the winding down of the Wanlimu e-commerce platform, partially offset by sales relating to QD Food.

Total operating costs and expenses increased by 16.1% to RMB944.2 million (US$136.9 million) from RMB813.6 million for 2021.

Cost of revenues increased by 28.2% to RMB383.1 million (US$55.5 million) from RMB298.7 million for 2021, primarily due to the increase in the cost of goods sold relating to QD Food.

Sales and marketing expenses increased by 113.2% to RMB271.6 million (US$39.4 million) from RMB127.4 million for 2021. The increase was primarily due to marketing expenses incurred by QD Food.

General and administrative expenses decreased by 35.2% to RMB287.5 million (US$41.7 million) from RMB443.3 million for 2021, primarily due to the winding down of the WLM Kids business.

Research and development expenses decreased by 58.7% to RMB58.3 million (US$8.4 million) from RMB141.3 million for 2021. The decrease was primarily due to the decrease in staff head count, which led to a corresponding decrease in staff salaries and a decrease in third-party service fees.

Provision for receivables and other assets was a reversal of RMB221.1 million (US$32.1 million) for 2022, mainly due to the decrease in past-due on-balance sheet outstanding principal receivables.

Impairment loss from long-lived assets was RMB268.9 million (US$39.0 million) for 2022, as a result of the winding down of the WLM Kids business and QD Food.

Loss from operations was RMB329.5 million (US$47.8 million) compared to an income of RMB922.7 million for 2021.

Net loss attributable to Qudian's shareholders was RMB362.0 million (US$52.5 million), compared to an income of RMB589.1 million. Net loss per diluted ADS was RMB1.47 (US$0.21) for 2022.

Non-GAAP net loss attributable to Qudian's shareholders was RMB347.9 million (US$50.4 million), compared to an income of RMB612.4 million. Non-GAAP net loss per diluted ADS was RMB1.41 (US$0.21) for 2022.

Cash Flow

As of December 31, 2022, the Company had cash and cash equivalents of RMB3,502.0 million (US$507.7 million) and restricted cash of RMB70.7 million (US$10.3 million). Restricted cash mainly represents security deposits held in designated bank accounts for the guarantee of on-and-off balance sheet transactions. Such restricted cash is not available to fund the general liquidity needs of the Company.

For the fourth quarter of 2022, net cash provided by operating activities was RMB83.3 million (US$12.1 million), mainly due to proceeds from interest and investment income. Net cash provided by investing activities was RMB332.3 million (US$48.2 million), mainly due to the net proceeds from the collection of loan principal. Net cash used in financing activities was RMB51.5 million (US$7.5 million), mainly due to the repurchase of ordinary shares.

For the full year of 2022, net cash used in operating activities was RMB184.5 million (US$26.7 million), mainly due to payments made to suppliers and employees and partially offset by cash received from investment income. Net cash provided by investing activities was RMB2,330.2 million (US$337.8 million), mainly due to the net proceeds from the collection of loan principal. Net cash used in financing activities was RMB835.0 million (US$121.1 million), mainly due to the repurchases of ordinary shares and convertible senior notes.

Update on Share Repurchase

As of the date of this release, the Company has cumulatively completed total share repurchases of approximately US$602.1 million.

About Qudian Inc.

Qudian Inc. ("Qudian") is a consumer-oriented technology company in China. The Company historically focused on providing credit solutions to consumers. Qudian is exploring innovative consumer products and services to satisfy Chinese consumers' fundamental and daily needs by leveraging its technology capabilities.

For more information, please visit http://ir.qudian.com.

Use of Non-GAAP Financial Measures

We use Non-GAAP net income/loss attributable to Qudian's shareholders, a Non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. We believe that Non-GAAP net income/loss attributable to Qudian's shareholders 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, which is non-cash and non-recurring. We believe that Non-GAAP net income/loss attributable to Qudian's shareholders 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.

Non-GAAP net income/loss attributable to Qudian's shareholders is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This Non-GAAP financial measure has limitations as an analytical tool, 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 RMB6.8972 to US$1.00, the noon buying rate in effect on December 30, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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 products; Qudian's expectations regarding keeping and strengthening its relationships with customers, business partners and other parties it collaborates 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:

In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com

In the United States:
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 December 31,

(In thousands except for number



2021


2022

of shares and per-share data)



(Unaudited)


(Unaudited)


(Unaudited)




RMB


RMB


US$









Revenues:








Financing income



296,443


29,276


4,245

Sales commission fee



7,545


-


-

Sales income and others



7,158


19,305


2,799

Penalty fee



16,178


3,966


575

Loan facilitation income and other related income


9,925


4,942


717

Transaction services fee and other related income


41,638


102,580


14,873









Total revenues



378,887


160,069


23,209









Operating cost and expenses:








Cost of revenues



(38,272)


(73,653)


(10,679)

Sales and marketing



(27,799)


(18,520)


(2,685)

General and administrative



(109,793)


(67,764)


(9,825)

Research and development



(22,798)


(2,538)


(368)

Changes in guarantee liabilities and risk assurance liabilities(1)

38,826


16,857


2,444

Provision for receivables and other assets



(71,544)


140,726


20,403

Impairment loss from long-lived assets



(156,394)


(103,950)


(15,071)

Total operating cost and expenses



(387,774)


(108,842)


(15,781)

Other operating income



56,728


14,858


2,154









Income from operations



47,841


66,085


9,582

Interest and investment income, net



149,352


224,055


32,485

(Loss)/Gain from equity method investments



(221,798)


12,839


1,861

Gain on derivative instruments



17,375


262,049


37,994

Foreign exchange gain/(loss), net



78


(1,639)


(238)

Other income



20


254


37

Other expenses



(3,355)


-


-









Net (loss)/income before income taxes



(10,487)


563,643


81,721

Income tax expenses



(55,503)


(73,540)


(10,662)









Net (loss)/Income



(65,990)


490,103


71,059

Less: net loss attributable to non-controlling
interest shareholders



(927)


-


-









Net (loss)/income attributable to Qudian
Inc.'s  shareholders



(65,063)


490,103


71,059

















Loss/(Earning) per share for Class A and
Class B ordinary shares:








Basic



(0.26)


2.07


0.30

Diluted



(0.26)


2.07


0.30









Loss/(Earning) per ADS (1 Class A ordinary
share equals 1 ADSs):








Basic



(0.26)


2.07


0.30

Diluted



(0.26)


2.07


0.30









Weighted average number of Class A and
Class B ordinary shares outstanding:








Basic



253,682,383


236,955,750


236,955,750

Diluted



265,107,010


236,955,750


236,955,750









Other comprehensive loss:








Foreign currency translation adjustment



(2,517)


(23,059)


(3,343)









Total comprehensive (loss)/income



(68,507)


467,044


67,716

Less: total comprehensive loss attributable
to non-controlling interest shareholders



(927)


-


-









Total comprehensive (loss)/income
attributable to Qudian Inc.'s
shareholders 



(67,580)


467,044


67,716









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 Statements of Operations










Year ended December 31,

(In thousands except for number


2021


2022

of shares and per-share data)


(Audited)


(Unaudited)


(Unaudited)



RMB


RMB


US$








Revenues:







Financing income


1,255,488


308,717


44,760

Sales commission fee


35,411


115


17

Sales income and others


100,668


82,616


11,978

Penalty fee


67,316


53,445


7,749

Loan facilitation income and other related income


43,466


18,809


2,727

Transaction services fee and other related income

151,694


113,790


16,498








Total revenues


1,654,043


577,492


83,729








Operating cost and expenses:







Cost of revenues


(298,726)


(383,091)


(55,543)

Sales and marketing


(127,376)


(271,611)


(39,380)

General and administrative


(443,276)


(287,457)


(41,677)

Research and development


(141,264)


(58,275)


(8,449)

Changes in guarantee liabilities and risk assurance liabilities(1)

201,602


103,991


15,077

Provision for receivables and other assets


151,817


221,121


32,060

Impairment loss from long-lived assets


(156,394)


(268,927)


(38,991)

Total operating cost and expenses


(813,617)


(944,249)


(136,903)

Other operating income


82,273


37,255


5,401








Income/(Loss) from operations


922,699


(329,502)


(47,773)

Interest and investment income, net


129,456


112,816


16,357

(Loss)/Gain from equity method investments


(221,798)


13,998


2,030

Gain/(Loss) on derivative instruments


17,375


(70,420)


(10,210)

Foreign exchange (loss)/gain, net


(51)


250


36

Other income


5,213


19,833


2,876

Other expenses


(6,485)


(16,599)


(2,407)








Net income/(loss) before income taxes


846,409


(269,624)


(39,091)

Income tax expenses


(260,482)


(92,428)


(13,401)








Net income/(loss)


585,927


(362,052)


(52,492)

Less: net loss attributable to non-controlling
interest shareholders


(3,147)


(88)


(13)








Net income/(loss) attributable to Qudian Inc.'s
shareholders


589,074


(361,964)


(52,479)















Earning/(loss) per share for Class A and Class B
ordinary shares:







Basic


2.32


(1.47)


(0.21)

Diluted


2.27


(1.47)


(0.21)








Earning/(loss) per ADS (1 Class A ordinary share
equals 1 ADSs):







Basic


2.32


(1.47)


(0.21)

Diluted


2.27


(1.47)


(0.21)








Weighted average number of Class A and Class B
ordinary shares outstanding:







Basic


253,438,807


246,043,086


246,043,086

Diluted


266,292,869


246,043,086


246,043,086








Other comprehensive (loss)/income:







Foreign currency translation adjustment


(7,577)


13,037


1,890








Total comprehensive income/(loss)


578,350


(349,015)


(50,602)

Less: total comprehensive loss attributable to
non-controlling interest shareholders


(3,147)


(88)


(13)








Total comprehensive income/(loss)
attributable to Qudian Inc.'s shareholders 


581,497


(348,927)


(50,589)








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 December 31,

(In thousands except for number



2021


2022

of shares and per-share data)



(Audited)


(Unaudited)

(Unaudited)




RMB


RMB

US$

ASSETS:







 Current assets:







 Cash and cash equivalents



2,065,495


3,502,041

507,748

 Restricted cash



177,925


70,707

10,252

 Derivative instruments-assets



17,376


-

-

 Short-term investments



5,926,601


5,378,305

779,781

   Short-term loan principal and financing service fee
receivables



2,371,966


-

-

 Short-term finance lease receivables



31,462


1,381

200

 Short-term contract assets



27,965


-

-

 Other current assets



1,599,300


2,106,092

305,355

 Total current assets



12,218,090


11,058,526

1,603,336








 Non-current assets:







 Long-term finance lease receivables



399


-

-

 Operating lease right-of-use assets



300,607


103,142

14,954

 Investment in equity method investee



85,582


133,058

19,292

 Long-term investments



286,065


217,046

31,469

 Property and equipment, net



659,101


773,886

112,203

 Intangible assets



11,012


9,701

1,406

 Long-term contract assets



31


-

-

 Deferred tax assets, net



87,286


-

-

 Other non-current assets



442,952


451,076

65,400

 Total non-current assets



1,873,035


1,687,909

244,724








TOTAL ASSETS



14,091,125


12,746,435

1,848,060















QUDIAN INC.

Unaudited Condensed Consolidated Balance Sheets (Continued)


















As of December 31,


As of December 31,

(In thousands except for number



2021


2022

of shares and per-share data)



(Audited)


(Unaudited)

(Unaudited)




RMB


RMB

US$








LIABILITIES AND SHAREHOLDERS' EQUITY 







 Current liabilities: 







 Short-term borrowings and interest payables



-


29,062

4,214

 Short-term lease liabilities



37,470


6,311

915

 Derivative instruments-liability



-


163,128

23,651

 Accrued expenses and other current liabilities 



376,868


295,675

42,869

 Guarantee liabilities and risk assurance liabilities(2)



886


-

-

 Income tax payable 



78,294


90,753

13,158

 Total current liabilities 



493,518


584,929

84,807








 Non-current liabilities: 





 Deferred tax liabilities, net



68,543


2,118

307

 Convertible senior notes



681,401


-

-

 Long-term lease liabilities



168,800


426

62

 Long-term borrowings and interest payables  



145,312


116,249

16,855

 Other non-current liabilities



10,012


-

-








 Total non-current liabilities 



1,074,068


118,793

17,224

 Total liabilities 



1,567,586


703,722

102,031















 Shareholders' equity: 







 Class A Ordinary shares 



132


132

19

 Class B Ordinary shares 



44


44

6

 Treasury shares 



(346,321)


(481,582)

(69,823)

 Additional paid-in capital 



4,017,375


4,030,825

584,415

 Accumulated other comprehensive loss 



(58,997)


(45,960)

(6,664)

 Non-controlling interests



6,853


-

-

 Retained earnings 



8,904,453


8,539,254

1,238,076








 Total shareholders' equity 



12,523,539


12,042,713

1,746,029








TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY 



14,091,125


12,746,435

1,848,060















Note:
(2) 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 December 31,




2021


2022

(In thousands except for number



(Unaudited)


(Unaudited)


(Unaudited)

of shares and per-share data)



RMB


RMB


US$

















Total net (loss)/income attributable to Qudian Inc.'s shareholders


(65,063)


490,103


71,059

Add: Share-based compensation expenses 



5,747


3,376


489

Less: Convertible bonds buyback income



(36)


184


27

Non-GAAP net income/(loss) attributable to Qudian Inc.'s shareholders

(59,280)


493,295


71,521









Non-GAAP net (loss)/earning per share—basic



(0.23)


2.08


0.30

Non-GAAP net (loss)/earning per share—diluted



(0.23)


2.08


0.30

Weighted average shares outstanding—basic



253,682,383


236,955,750


236,955,750

Weighted average shares outstanding—diluted



265,107,010


236,955,750


236,955,750




















Year ended December 31,




2021


2022

(In thousands except for number



(Audited)


(Unaudited)


(Unaudited)

of shares and per-share data)



RMB


RMB


US$

















Total net income/(loss) attributable to Qudian Inc.'s shareholders


589,074


(361,964)


(52,479)

Add: Share-based compensation expenses 



35,349


24,054


3,488

Less: Convertible bonds buyback income



12,046


10,028


1,454

Non-GAAP net income/(loss) attributable to Qudian Inc.'s shareholders

612,377


(347,938)


(50,446)









Non-GAAP net earning/(loss) per share—basic



2.42


(1.41)


(0.21)

Non-GAAP net earning/(loss) per share—diluted



2.36


(1.41)


(0.21)

Weighted average shares outstanding—basic



253,438,807


246,043,086


246,043,086

Weighted average shares outstanding—diluted



266,292,869


246,043,086


246,043,086

 

 

View original content:https://www.prnewswire.com/news-releases/qudian-inc-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results-301751483.html


Source: Qudian Inc. Related Stocks: NYSE:QD

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