Chinese Micro-Lender Qudian Falls Following Disappointing Q4, CFO Departure

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Shares of Chinese consumer credit company Qudian Inc – ADR (NYSE: QD) are falling after the company reported fourth-quarter results that grossly disappointed and announced the resignation of its CFO.

For the fourth quarter, the company reported revenues of 1.93 billion yuan or $277.5 million, representing a 25.4% quarter-over-quarter decline but a 7.1% year-over-year advance.

The net income plunged 87% quarter-over-quarter and 83.3% year-over-year to 127.9 million yuan or $18.4 million, or 0.49 yuan or 7 cents per ADS. On a non-GAAP basis, quarterly net in come came …

Full story available on Benzinga.com

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