Qfin Holdings, Inc. · NASDAQ:QFIN
Qfin — Q4 2025 Earnings Presentation
22 slides from Qfin's earnings presentation, March 2026
Slide 1: Q4 and Full Year 2025 Result Presentation
March 2026 Q4 and Full Year 2025 Result Presentation Strictly Private and Confidential
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Qfin Holdings, Inc. considerations involved with an investment in the securities inherent risks and uncertainties. A number of factors could (the “Company”) solely for information purpose. By viewing of the Company. Nothing contained in this presenta
Slide 3: Our Mission
Our Mission To Enable a Better Life for People by Facilitating Safe, Convenient and Inclusive Financial Services through Technology Empowerments to Financial Institutions 3
Slide 4: Company Overview
QFIN SER B Company Overview al vio an | it
Slide 5: What We Have Achieved in 2025
What We Have Achieved in 2025 A Leading AI-empowered Credit-Tech Platform in China RMB327.1 billion 63.6 million 167 Loan Facilitation Volume in 2025 RMB6,354 million 26.4% Cumulative Users with Cumulative Financial Non-GAAP Net Income in 2025 (2) Non-GAAP ROE(3) Approved Credit Lines(1) Institution
Slide 6: Dedicated to Returning Value to Shareholders
Dedicated to Returning Value to Shareholders Significant share count reduction by repurchases Progressive Dividend per ADS Authorized and Actual Repurchased Value Dividend per ADS (US$ million) (US$) US$1.2 billion Worth of ADSs repurchased Cumulatively 677 450 450 350 350 (1) 1.54 227 150 150 1.30
Slide 7: We Primarily Enable Financial Institutions with Our Innovative Technology Solutions
We Primarily Enable Financial Institutions with Our Innovative Technology Solutions… 63.6 million 167 Users with Approved Credit Lines(2) Our Solutions Financial Institution Partners(2) National Banks Consumers SMEs Convenient Process Borrower Acquisition City/Rural Commercial Technology Banks Credi
Slide 8: …to Make Credit Accessible and Affordable to Underserved Borrowers
…to Make Credit Accessible and Affordable to Underserved Borrowers Credit card, mortgage & Geography coverage Age auto loan holders ~81% from tier 66%(1) < 40 60%(1) (3) 3/4 cities(1) Repeated borrowers’ Weighted average Average drawdown loan volume contribution contractual tenor 90.8%(2) RMB11.0k(2
Slide 9: Our Solutions
Our Solutions Credit-driven Services Capital-light Model Intelligent Credit Engine Technology Solutions 2016 2018 2019 2020 Services Provided More tech-empowered models User Acquisition & Preliminary Credit Screening Matching & Referral Advanced Credit Assessment Credit Risk Taking Post-facilitation
Slide 10: Multichannel and Efficient User Acquisition With a Broad User Base
Multichannel and Efficient User Acquisition With a Broad User Base AI-powered Online Advertising • Partner with leading internet traffic platforms • RTA-DMP Marketing System enables efficient user acquisition • Acquire users across all online life and business scenarios Embedded Finance • 75 embedde
Slide 11: Proven Track Record of Consistent Execution with Stable Asset Quality
Proven Track Record of Consistent Execution with Stable Asset Quality Our Track Record Loan Facilitation Volume(1) 180 Day+ Delinquency Rates by Vintage (2) (RMB billion) (As of December 31, 2025) 4.00% 3.50% 356.5 369.1 3.00% 330.7 322.0 327.1 2.50% 246.8 2.00% 199.1 1.50% 96.0 1.00% 31.0 0.50% 0.0
Slide 12: AI-Empowered Credit Assessment Capabilities Create Dual Flywheel Effect
AI-Empowered Credit Assessment Capabilities Create Dual Flywheel Effect Superior AI-driven Credit Assessment Engine (Argus)… … Reinforcing Flywheel Effect 290 mm+ users(1) with 2,600+ models enabled Proprietary credit multimodal insights with cutting-edge technologies score system output More Machin
Slide 13: Credit is a Natural and Perfect Use Case for AI Empowerment
Credit is a Natural and Perfect Use Case for AI Empowerment Massive data Millions of Frictionless customer Dramatic in digitally repeating credit / experience with automated economic wins available form repayment events for both lenders and for AI-powered business to train for constantly loan proces
Slide 14: From “AI Across Our Operations” to Technology Enablement
From “AI Across Our Operations” to Technology Enablement Ubiquitous AI Applications in Our Business “AI + Credit” Strategy Evolving into a Next- Generation AI Credit Super Agent Collection Credit User Lifecycle Acquisition User Acquisition System Risk Mgmt. Loan … System Monitoring Loan Application
Slide 15: “One Core, Two Wings” Strategy
“One Core, Two Wings” Strategy Our Vision: Becoming a Respected Global Fintech Company Fintech Solutions for FIs Overseas Expansion Core Credit Business in China Supported by Our AI+ Strategy 15
Slide 16: Operational and Financial Data
Operational and Financial Data
Slide 17: Consistently Expanding User Base
Consistently Expanding User Base Cumulative Users with Approved Credit Lines Cumulative Borrowers (million) (million) 63.6 62.1 63.6 38.9 38.1 38.9 56.9 34.4 4Q24 4Q25 3Q25 4Q25 4Q24 4Q25 3Q25 4Q25 17
Slide 18: Decline in Loan Volume with Tightened Credit Standards
Decline in Loan Volume with Tightened Credit Standards Loan Facilitation Volume (1) Outstanding Loan Balance (2) (RMB billion) (RMB billion) % of platform services’ contribution % of platform services’ contribution 53.2% 43.8% 41.7% 43.8% 58.1% 47.2% 48.1% 47.2% 137.0 138.1 89.9 126.0 126.0 83.3 70.
Slide 19: Profit Contracted Due to Lower Loan Pricing and Rising Credit Costs
Profit Contracted Due to Lower Loan Pricing and Rising Credit Costs Total Net Revenue Non-GAAP Net Income (1) (RMB million) (RMB million) 5,206 4,482 1,972 4,093 4,093 1,508 1,071 1,071 4Q24 4Q25 3Q25 4Q25 4Q24 4Q25 3Q25 4Q25 Notes: (1) Excluding share-based compensation expenses. 19
Slide 20: Deleveraging in OPEX
Deleveraging in OPEX Facilitation, Origination and Sales and Marketing Expense General and Administrative Servicing Expense (% of Loan Facilitation Volume(1)) Expense (% of Loan Facilitation Volume(1)) (% of Loan Facilitation Volume(1)) User Acquisition Costs(RMB)(2) 312 380 340 380 1.06% 1.06% 0.91
Slide 21: Short-term Volatility Witnessed Amid Challenging Industry Dynamics
Short-term Volatility Witnessed Amid Challenging Industry Dynamics 18.0% 100.0% 90.8% 89.6% 90.4% 90.3% 89.3% 15.0% 87.5% 87.1% 87.2% 86.7% 87.4% 88.1% 88.1% 87.3% 90.0% 86.0% 85.8% 86.4% 86.2% 86.3% 85.7% 84.7% 84.9% 85.1% 84.1% 84.0% 12.0% 80.0% 9.0% 70.0% 7.3% 6.2% 6.1% 6.0% 5.3% 5.2% 5.4% 5.2% 5
Slide 22: THANK YOU
THANK YOU