Qfin Holdings, Inc. NASDAQ: QFIN

A securities fraud class action lawsuit has been filed against Qfin Holdings, Inc. (“Qfin” or the “Company,” formerly known as Qifu Technology, Inc. and 360 DigiTech, Inc.) (NASDAQ: QFIN) on behalf of shareholders who purchased or otherwise acquired the Company’s American depositary shares between March 18, 2026 and August 25, 2026, inclusive (the “Class Period”). Qfin is a China-based financial technology company that facilitates consumer credit origination and risk management services on behalf of financial institution partners.

The complaint alleges that, throughout the Class Period, defendants represented that Qfin’s business was well-positioned to withstand evolving regulatory requirements imposed on China’s consumer credit industry, describing the Company’s operations and risk metrics as “resilient,” “steady,” and “stable,” and touting strategies that were purportedly already improving the Company’s risk performance. The complaint alleges that these statements overstated the resiliency of Qfin’s business and understated the severity of the impact that regulatory changes were having, and were likely to continue having, on the Company’s results.

On August 25, 2026, Qfin announced its second-quarter and interim 2026 unaudited financial results, reporting that total net revenue had fallen 31.6% year-over-year, from approximately RMB 5.22 billion to approximately RMB 3.57 billion, and that net income had fallen 76.8% year-over-year, from approximately RMB 1.73 billion to RMB 401.4 million, due in part to an unexpected RMB 500 million tax expense resulting from a change in the tax treatment of certain entities. The Company also issued guidance projecting a 67% to 73% year-over-year decline in third-quarter non-GAAP net income, citing rising funding costs and liquidity pressure in the Chinese consumer credit market. On this news, Qfin’s American depositary shares fell $2.18 per ADS, or 18.91%, to close at $9.35 per ADS on August 26, 2026.