360 DigiTech (QFIN) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

March 10, 2023 7:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the 360 DigiTech Fourth Quarter and Full-Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please also note today's event is being recorded.

At this time, I'd like to turn the conference call over to Ms. Karen Ji, Senior Director of Capital Market. Please go ahead, Karen.

Karen Ji

Thank you, operator. Hello, everyone, and welcome to 360 DigiTech's fourth quarter and full-year 2022 earnings conference call. Our earnings release was distributed earlier today and is available on our IR website. Joining me today are Mr. Wu Haisheng, our CEO; Mr. Alex Xu, our CFO; and Mr. Zheng Yan, our CRO.

Before we start, I'd like to refer you to our Safe Harbor statement in the earnings press release, which applies to this call as we will make certain forward-looking statement.

Also, this call includes discussions of certain non-GAAP financial measures. Please refer to our earnings release which contains a reconciliation of the non-GAAP measures to GAAP measures. Also, please note that unless otherwise stated, all figures mentioned in this call are in RMB terms.

Now I'll turn the call over to our CEO, Mr. Wu Haisheng. Please go ahead.

Wu Haisheng

Hello, everyone. Thanks for joining our Q4 2022 earnings conference call. On the macro environment front, we experienced a volatile quarter in Q4, swinging from widespread grounds across China in October and in November to the border reopening and the cancellation of almost all COVID-19 restrictions in December. This concluded nearly three-year period of strict COVID control policies in China. Regulatory authorities also announced that the rectification of financial business within the major Internet platform companies has been mostly completed.

At a meeting held on February 27, 2023, the China Banking and Insurance Regulatory Commission, CBIRC, called for proactive coordination between financial, fiscal, and social policies to provide greater support for the growth of private consumption and domestic demand in China. The financial market department of the People's Bank of China, PBOC, also pledge to facilitate a healthy development of the platform economy in three ways, including speeding up the rectification of the remaining minor issues with some Internet platform companies, improving standards for regular supervision and developing financial measures to support the sustainable healthy development of the firm economy. Our industry is therefore headed in a more positive direction.