High Templar Tech (HTT) Q1 2025 earnings summary

Executive summary

• Qudian reported Q1 2025 revenues of RMB25.8 million (US$3.6 million), down from RMB55.8 million year-over-year.

• Net income attributable to shareholders was RMB150.1 million (US$20.7 million), reversing a net loss of RMB73.6 million in Q1 2024.

• The last-mile delivery business saw significant revenue decline due to intense competition; the company is considering winding down this segment.

• Qudian remains focused on business transition and prudent cash management.

Financial highlights

• Total revenues decreased 53.8% year-over-year, primarily from lower last-mile delivery sales.

• Operating costs and expenses fell to RMB91.3 million from RMB128.4 million year-over-year.

• Cost of revenues dropped 54.8% to RMB26.2 million, reflecting lower delivery order volume.

• Interest and investment income, net, surged 205.3% to RMB165.4 million, driven by higher investment returns.

• Gain on derivative instruments was RMB47.3 million, compared to a loss of RMB36.5 million in Q1 2024.

Outlook and guidance

• The company is contemplating winding down its last-mile delivery business due to market conditions.

• Plans to continue exploring innovative business opportunities leveraging technology capabilities.

• Remains committed to prudent cash management and safeguarding the balance sheet.