Qifu Technology, Inc. (NASDAQ:QFIN) Q1 2024 Results Conference Call May 20, 2024 7:30 AM ET

Company Participants

Karen Ji - Senior Director of Capital Markets
Wu Haisheng - Chief Executive Officer
Alex Xu - Chief Financial Officer
Zheng Yan - Chief Risk Officer

Conference Call Participants

Chiyao Huang - Morgan Stanley
Emma Xu - Bank of America
Alex Ye - UBS
Yada Li - CICC

Operator

Thank you for standing by, and welcome to the Qifu Technology First Quarter 2024 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 Markets. Please go ahead, Karen.

Karen Ji

Thank you, operator. Hello everyone, and welcome to Qifu Technology first quarter 2024 earnings conference call.0020Our 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 would like to refer you to our Safe Harbor statements in the earnings press release, which applies to this call as we will make certain forward-looking statements. 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 financial measures to GAAP financial measures. Also, please note that unless otherwise stated, all figures mentioned in this call are in RMB terms. Today's prepared remarks from our CEO will be delivered in English using an AI generated voice.

Now, I will turn the call over to Mr. Wu Haisheng. Please go ahead.

Wu Haisheng

Hello everyone. Thank you for joining us today. Starting in the second half of 2023, we have adjusted our business strategy in a timely manner, focusing on quality growth and improving profitability as the Company's primary goals. Over the past few quarters, we have strictly managed risks and enhanced profitability by adhering to a prudent business strategy.

All these efforts have enabled us to demonstrate stronger resilience in today's challenging macro environment and deliver solid performance to the market. Over the past quarter, we continued to expand the coverage on both ends of our platform, empowering 159 financial institutions to provide credit services to over 52 million credit line users on cumulative basis.