Qifu Technology, Inc. (NASDAQ:QFIN) Q2 2024 Earnings Conference Call August 13, 2024 8:30 PM ET

Company Participants

Karen Ji - Senior Director, Capital Markets
Wu Haisheng - CEO
Alex Xu - CFO

Conference Call Participants

Richard Xu - Morgan Stanley
Emma Xu - Bank of America
Alex Ye - UBS
Yada Li - CICC
Cindy Wang - China Renaissance

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Qifu Technology Second 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, Emily. Hello everyone and welcome to Qifu Technology's second quarter 2024 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 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. Before we start, we will like you to know that 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. Despite the ongoing macroeconomic challenges since the start of 2024, we achieved a solid performance by adhering to our prudent execution and quality development strategy.

By the end of Q2, our platform empowered a total of 160 financial institutions and served more than 53 million users with approved credit lines on a cumulative basis. During the quarter, we further solidified our business foundation and improved asset quality and operational efficiency with a keen focus on the quality of loans.

These efforts enabled us to significantly improve our risk performance and record the highest quarterly profit over the past 11 quarters, highlighting the strong resilience of our business.