360 Finance Inc (QFIN)QFIN

360 Finance Inc.: Comprehensive Overview

Company Profile:

Detailed history and background: 360 Finance Inc. (NASDAQ: QFIN) is a Chinese financial technology company established in 2015. It operates a leading online financial services platform in China, providing a wide range of products and services, including:

• Microloans: 360 Finance offers short-term, unsecured loans to individuals and small businesses in China.
• Wealth management: Through its 360 Jietiao platform, the company provides wealth management products, including money market funds and fixed-income investments.
• Consumer finance: 360 Finance also offers consumer finance products, such as credit cards, personal lines of credit, and installment loans.
• Insurance: The company sells insurance products through its online platform, including life insurance, health insurance, and property & casualty insurance.
• Data and technology solutions: 360 Finance leverages its data and technology capabilities to provide risk management, fraud prevention, and credit scoring solutions to financial institutions and other businesses.

Description of the company's core business areas: 360 Finance operates in three core business segments:

• Lending: This segment generates the majority of the company's revenue and includes microloans, consumer finance products, and wealth management products.
• Financial technology: 360 Finance's fintech solutions leverage its data and technology capabilities to provide services to financial institutions and other businesses.
• Other: This segment includes revenue from insurance and other miscellaneous sources.

Overview of the company's leadership team and corporate structure: 360 Finance is led by a team of experienced executives with a strong track record in the financial services industry. Key members include:

• Haibo Yan, Founder and Chairman: Mr. Yan has over 20 years of experience in the technology and financial services industries. He previously founded Qihoo 360, a leading internet security company in China.
• Su Kui, CEO: Ms. Kui has over 20 years of experience in the financial services industry. She previously held leadership positions at平安银行 and招商银行.
• Jun Xu, CFO: Mr. Xu has over 20 years of experience in finance and accounting. He previously held leadership positions at平安银行 and招商银行.

Top Products and Market Share:

360 Finance's top products include:

• Microloans: The company is a leading provider of online microloans in China, with a market share of over 20% as of Q2 2023.
• 360 Jietiao: This platform offers wealth management products and has over 190 million registered users.
• Financial technology solutions: 360 Finance's fintech solutions are used by over 1,000 financial institutions and other businesses.

Analysis of the market share of these products:

• Microloans: The microloan market in China is highly competitive, with numerous players vying for market share. However, 360 Finance's strong brand recognition and established customer base have allowed it to maintain its leading position.
• Wealth management: The wealth management market in China is also highly competitive, but 360 Jietiao's large user base and diverse product offerings have positioned it well in this market.
• Financial technology solutions: The financial technology solutions market in China is still relatively nascent, but 360 Finance's early mover advantage and proven capabilities have made it a key player in this space.

Comparison of product performance and market reception against competitors:

• Microloans: 360 Finance's microloan business has performed well, with strong growth in loan volume and revenue. However, the company faces competition from other large players in the market, such as Ant Group and JD Digits.
• Wealth management: 360 Jietiao has seen strong user growth and increasing adoption of its wealth management products. However, the platform faces competition from other established wealth management providers in China.
• Financial technology solutions: 360 Finance has seen increasing adoption of its fintech solutions by financial institutions and other businesses. The company's strong technology capabilities and data-driven approach differentiate it from its competitors.

Total Addressable Market:

The total addressable market (TAM) for 360 Finance is significant. The microloan market in China is estimated to be worth over 10 trillion yuan (approximately $1.5 trillion USD), and the wealth management market is estimated to be worth over 100 trillion yuan (approximately $15 trillion USD). Additionally, the demand for financial technology solutions is expected to continue to grow in China, creating a large potential market for 360 Finance's fintech business.

Financial Performance:

Detailed analysis of recent financial statements:

• Revenue: 360 Finance's revenue has grown at a strong pace in recent years. In 2022, the company's revenue reached 14.5 billion yuan (approximately $2.1 billion USD), an increase of 28% year-over-year.
• Net income: 360 Finance's net income has also grown significantly in recent years. In 2022, the company's net income reached 3.2 billion yuan (approximately