By Helgi Library - September 17, 2019
Qudian's non-performing loans reached 5.62% of total loans at the end of 2019-06-30, up from 4.66% compared to the previous year....
By Helgi Library - September 17, 2019
Qudian's non-performing loans reached 5.62% of total loans at the end of 2019-06-30, up from 4.66% compared to the previous year....
By Helgi Library - October 23, 2019
Qudian stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 mil. ...
| Profit Statement | 2016 | 2017 | 2018 | |
| Net Interest Income | CNY mil | 1,004 | 2,785 | 2,803 |
| Net Fee Income | CNY mil | 171 | 1,109 | 2,153 |
| Other Income | CNY mil | 0 | 0 | 0 |
| Total Revenues | CNY mil | 1,175 | 3,895 | 4,957 |
| Operating Profit | CNY mil | 831 | 3,126 | 3,961 |
| Provisions | CNY mil | 133 | 755 | 1,295 |
| Net Profit | CNY mil | 577 | 2,164 | 2,491 |
| Balance Sheet | 2016 | 2017 | 2018 | |
| Interbank Loans | CNY mil | 586 | 551 | 0.002 |
| Customer Loans | CNY mil | 4,827 | 8,767 | 9,592 |
| Total Assets | CNY mil | 7,118 | 19,380 | 16,253 |
| Shareholders' Equity | CNY mil | 2,514 | 9,540 | 10,821 |
| Interbank Borrowing | CNY mil | 4,259 | 8,489 | 4,274 |
| Customer Deposits | CNY mil | 0 | 0 | 0 |
| Issued Debt Securities | CNY mil | 0 | 0 | 0 |
| Ratios | 2016 | 2017 | 2018 | |
| ROE | % | 61.3 | 35.9 | 24.5 |
| ROA | % | 11.8 | 16.3 | 14.0 |
| Costs (As % Of Assets) | % | 7.02 | 5.80 | 5.59 |
| Costs (As % Of Income) | % | 29.2 | 19.7 | 20.1 |
| Net Interest Margin | % | 20.5 | 21.0 | 15.7 |
| NPLs (As % Of Loans) | % | 1.75 | 4.60 | 16.7 |
| Provisions (As % Of NPLs) | % | 186 | 179 | 118 |
| Valuation | 2016 | 2017 | 2018 | |
| Price/Earnings (P/E) | 87.9 | 11.5 | 3.69 | |
| Price/Book Value (P/BV) | 20.2 | 2.61 | 0.849 | |
| Earnings Per Share (EPS) | CNY | 1.90 | 7.09 | 7.74 |
| Book Value Per Share | CNY | 8.27 | 31.3 | 33.6 |
Get all company financials in excel:
| summary | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
| income statement | ||||||
| Net Interest Income | CNY mil | 12.1 | 5.14 | 1,004 | ||
| Total Revenues | CNY mil | 15.1 | 86.6 | 1,175 | ||
| Operating Profit | CNY mil | -39.1 | -186 | 831 | ||
| Net Profit | CNY mil | -40.8 | -233 | 577 | ||
| balance sheet | ||||||
| Interbank Loans | CNY mil | ... | 34.9 | 586 | ||
| Customer Loans | CNY mil | ... | 2,061 | 4,827 | ||
| Total Assets | CNY mil | ... | 2,676 | 7,118 | ||
| Shareholders' Equity | CNY mil | ... | -631 | 2,514 | ||
| Interbank Borrowing | CNY mil | ... | 1,652 | 4,259 | ||
| Customer Deposits | CNY mil | ... | 0 | 0 | ||
| Issued Debt Securities | CNY mil | ... | 0 | 0 | ||
| ratios | ||||||
| ROE | % | ... | 36.9 | 61.3 | ||
| ROA | % | ... | -8.71 | 11.8 | ||
| Costs (As % Of Assets) | % | ... | 10.2 | 7.02 | ||
| Costs (As % Of Income) | % | 359 | 315 | 29.2 | ||
| Net Interest Margin | % | ... | 0.192 | 20.5 | ||
| Interest Income (As % Of Revenues) | % | 79.9 | 5.93 | 85.4 | ||
| Fee Income (As % Of Revenues) | % | 20.1 | 94.1 | 14.6 | ||
| Equity (As % Of Assets) | % | ... | -23.6 | 35.3 | ||
| Loans (As % Assets) | % | ... | 77.0 | 67.8 | ||
| NPLs (As % Of Loans) | % | 0.049 | 0.918 | 1.75 | ||
| Provisions (As % Of NPLs) | % | 2,053 | 165 | 186 | ||
| valuation | ||||||
| Market Capitalisation (End Of Period) | USD mil | ... | ... | 7,291 | ||
| Number Of Shares (Average) | mil | 79.3 | 79.3 | 304 | ||
| Share Price (End Of Period) | CNY | ... | ... | 167 | ||
| Earnings Per Share (EPS) | CNY | -0.514 | -2.94 | 1.90 | ||
| Book Value Per Share | CNY | ... | -7.96 | 8.27 | ||
| Price/Earnings (P/E) | ... | ... | 87.9 | |||
| Price/Book Value (P/BV) | ... | ... | 20.2 | |||
| Earnings Per Share Growth | % | ... | 472 | -165 | ||
| Book Value Per Share Growth | % | ... | -57.5 | -204 |
| income statement | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
| income statement | ||||||
| Interest Income | CNY mil | 21.1 | 154 | 1,271 | ||
| Interest Cost | CNY mil | 9.01 | 148 | 268 | ||
| Net Interest Income | CNY mil | 12.1 | 5.14 | 1,004 | ||
| Net Fee Income | CNY mil | 3.04 | 81.5 | 171 | ||
| Other Income | CNY mil | 0 | 0 | 0 | ||
| Total Revenues | CNY mil | 15.1 | 86.6 | 1,175 | ||
| Other Cost | CNY mil | 54.2 | 273 | 344 | ||
| Operating Cost | CNY mil | 54.2 | 273 | 344 | ||
| Operating Profit | CNY mil | -39.1 | -186 | 831 | ||
| Provisions | CNY mil | 1.67 | 45.1 | 133 | ||
| Extra and Other Cost | CNY mil | -0.003 | 2.08 | -5.07 | ||
| Pre-Tax Profit | CNY mil | -40.8 | -233 | 703 | ||
| Tax | CNY mil | 0 | 0 | 127 | ||
| Minorities | CNY mil | 0 | 0 | 0 | ||
| Net Profit | CNY mil | -40.8 | -233 | 577 | ||
| growth rates | ||||||
| Net Interest Income Growth | % | ... | -57.5 | 19,437 | ||
| Net Fee Income Growth | % | ... | 2,579 | 110 | ||
| Total Revenue Growth | % | ... | 473 | 1,257 | ||
| Operating Cost Growth | % | ... | 403 | 26.0 | ||
| Operating Profit Growth | % | ... | 375 | -547 | ||
| Pre-Tax Profit Growth | % | ... | 472 | -402 | ||
| Net Profit Growth | % | ... | 472 | -347 |
| balance sheet | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
| balance sheet | ||||||
| Cash | CNY mil | ... | 210 | 786 | ||
| Interbank Loans | CNY mil | ... | 34.9 | 586 | ||
| Customer Loans | CNY mil | ... | 2,061 | 4,827 | ||
| Total Assets | CNY mil | ... | 2,676 | 7,118 | ||
| Shareholders' Equity | CNY mil | ... | -631 | 2,514 | ||
| Liabilities | CNY mil | ... | 3,307 | 4,604 | ||
| Interbank Borrowing | CNY mil | ... | 1,652 | 4,259 | ||
| Customer Deposits | CNY mil | ... | 0 | 0 | ||
| Issued Debt Securities | CNY mil | ... | 0 | 0 | ||
| Other Liabilities | CNY mil | ... | 1,655 | 345 | ||
| asset quality | ||||||
| Non-Performing Loans | CNY mil | 0.250 | 20.8 | 87.7 | ||
| Gross Loans | CNY mil | 513 | 2,261 | 5,020 | ||
| Total Provisions | CNY mil | 5.13 | 34.2 | 163 | ||
| growth rates | ||||||
| Customer Loan Growth | % | ... | ... | 134 | ||
| Total Asset Growth | % | ... | ... | 166 | ||
| Shareholders' Equity Growth | % | ... | ... | -498 |
| ratios | Unit | 2014 | 2015 | 2016 | 2017 | 2018 |
| ratios | ||||||
| ROE | % | ... | 36.9 | 61.3 | ||
| ROA | % | ... | -8.71 | 11.8 | ||
| Costs (As % Of Assets) | % | ... | 10.2 | 7.02 | ||
| Costs (As % Of Income) | % | 359 | 315 | 29.2 | ||
| Net Interest Margin | % | ... | 0.192 | 20.5 | ||
| Interest Spread | % | ... | ... | 19.2 | ||
| Asset Yield | % | ... | 5.74 | 26.0 | ||
| Cost Of Liabilities | % | ... | ... | 6.77 | ||
| Interest Income (As % Of Revenues) | % | 79.9 | 5.93 | 85.4 | ||
| Fee Income (As % Of Revenues) | % | 20.1 | 94.1 | 14.6 | ||
| Other Income (As % Of Revenues) | % | 0 | 0 | 0 | ||
| Equity (As % Of Assets) | % | ... | -23.6 | 35.3 | ||
| Loans (As % Assets) | % | ... | 77.0 | 67.8 | ||
| NPLs (As % Of Loans) | % | 0.049 | 0.918 | 1.75 | ||
| Provisions (As % Of NPLs) | % | 2,053 | 165 | 186 | ||
| Provisions (As % Of Loans) | % | ... | 1.66 | 3.38 | ||
| Cost of Provisions (As % Of Loans) | % | ... | 2.19 | 3.86 |
Get all company financials in excel:
By Helgi Library - October 23, 2019
Qudian stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 mil. Over the last five years, the stock has depreciated by 36.4 implying an annual average growth of -8.65% In absolute terms, t...
By Helgi Library - September 5, 2019
Qudian stock traded at CNY 44.6 per share at the end of second quarter of 2019 implying a market capitalization of USD 1,957 mil. Over the last five years, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the co...
By Helgi Library - September 5, 2019
Qudian stock traded at CNY 44.6 per share at the end of second quarter of 2019 implying a market capitalization of USD 1,957 mil. Over the last five years, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the co...
By Helgi Library - September 5, 2019
Qudian stock traded at CNY 44.6 per share at the end second quarter of 2019 implying a market capitalization of USD 1,957 mil. Since the end of 2Q2014, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the compan...
By Helgi Library - September 5, 2019
Qudian's net interest margin amounted to 17.8% in the second quarter of 2019, down from 20.6% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 29.2% in 1Q2017 and an all time low of 12.8% in...
By Helgi Library - September 5, 2019
Qudian stock traded at CNY 44.6 per share at the end second quarter of 2019 implying a market capitalization of USD 1,957 mil. Since the end of 2Q2014, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the compan...
By Helgi Library - September 5, 2019
Qudian's net interest margin amounted to 17.8% in the second quarter of 2019, down from 20.6% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 29.2% in 1Q2017 and an all time low of 12.8% in...
By Helgi Library - September 5, 2019
Qudian generated total banking revenues of CNY 1,935 mil in the second quarter of 2019, up 49.3% when compared to the same period of last year and 5.38% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee a...
By Helgi Library - September 5, 2019
Qudian generated total banking revenues of CNY 1,935 mil in the second quarter of 2019, up 49.3% when compared to the same period of last year and 5.38% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee a...
By Helgi Library - October 7, 2019
Qudian's Equity reached 65.6% of total assets in the 2Q2019, up from 56.4% for the previous year. As a share of net customer loans, the ratio amounted to 103% at the end of the second quarter of 2019. ...
Qudian is a Chinese online micro-credit provider, which is backed by Alibaba Group affiliate Ant Financial. The Company was set up in 2014 to facilitate merchandise credit and cash credit to college students on campuses across China. Starting from Nov 2015, Qudian shifted its focus to a broader base of young consumers in China and since Jul 2016, it engaged all borrowers as to its cash and merchandise credit products through online channels. The Company operates through an online platform and all the transaction are facilitated through mobile devices. Borrowers can apply for credit on their mobile phones and receive approval within a few seconds. Approved borrowers are then able to draw down on their cash credit with cash disbursed immediately into their Alipay accounts in digital form. The Company also offers merchandise credit products to finance borrowers’ direct purchase of merchandise offered on its marketplace on installment basis. Its marketplace connects consumers with merchandise suppliers. In 2018, it was offering 14 categories of merchandise from over 1,000 brands covering primarily consumer electronics, home appliances, watches and accessories, sports and outdoor merchandise and luggage. Until the middle of 2019, the Company facilited loans to 76 mil clients with total on- and off-balance sheet loans accounting for RMB 29 bil at the end of June 2019. The Company was listed on the New York Stock Exchange in October 2017 and raised about US$ 900 mil. Phoenix Partners, The Kunlun Group and Ant Financial Services Group were among the largest shareholders in the Company at the end of 2018.
Qudian has been growing its revenues and asset by 285% and 82.5% a year on average in the last 3 years. Its loans and deposits have grown by 67.0% and % a year during that time and loans to deposits ratio reached at the end of 2018. The company achieved an average return on equity of 40.6% in the last three years with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 20.1% in 2018, compared to 23.0% average in the last three years.
Equity represented 66.6% of total assets or 113% of loans at the end of 2018. Qudian's non-performing loans were 16.7% of total loans while provisions covered some 118% of NPLs at the end of 2018.
Qudian stock traded at CNY 28.5 per share at the end of 2018 resulting in a market capitalization of USD 1,410 mil. Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 40.6% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 3.69x and price to book value (PBV) of 0.849x in 2018.
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