True face. In the fourth quarter of 2019, the growth rate of Qudian revenue dropped by 25.4% from the previous quarter. In terms of profit, losses continued, with a loss of 486.5 million yuan.
The contrast between Qudian and Lexin’s financial reports has actually been reflected last year.
For the whole year of 2019, Qudian recorded revenue of 8.840 billion yuan, a year-on-year increase of 14.9%, and adjusted net profit of 3.352 billion yuan, a year-on-year increase of 31.5%. Lexin’s revenue in the same period exceeded 10 billion, reaching 10.6 billion, a year-on-year increase of 39.6%, and its net profit was 2.3 billion, a year-on-year increase of 16%.
In terms of user growth, although Qudian has more registered users than Lexin, the quarter-on-quarter growth rate has dropped to single digits since the first quarter of 2018, while Lexin’s year-on-year growth rate has been maintained at two The digit growth has remained at around 90% for four consecutive quarters.
By the second quarter of this year’s financial report, Lexin’s total revenue reached 2.958 billion yuan, a year-on-year increase of 18.7%. This is also the 11 consecutive quarters since listing to achieve double-digit growth; net profit is 419 million yuan, a year-on-year decrease of 33.3% , The adjusted net profit was 453 million yuan, a year-on-year decrease of 32.5%. Not surprisingly, Qudian’s performance in the second quarter will continue the previous trend, and the gap between the two will become more obvious.
It’s worth noting that Lexin, the old rival of Fundian, has a better business performance.
In the second quarter, Lexin disclosed its new business “Internet platform revenue” for the first time. Its revenue was nearly 1 billion, accounting for one-third of its total revenue, of which platform service revenue was 419 million, a year-on-year increase of 109%. Leka and other members Service income exceeds 24 million.
The performance of other businesses is mixed. Lexin’s main revenue is credit services. This quarter’s revenue was 2 billion yuan, an increase of 48.8% year-on-year, and the growth is still strong; online direct sales revenue is 570 million yuan, and Compared with the 970 million yuan in the same period last year, there is a downward trend; the same is true for loan facilitation and service fee income.
Lexin has also maintained a rapid growth trend in terms of user growth. As of the second quarter, the number of users was 95.3 million, a year-on-year increase of 90%. Among them, the number of active users of Lexin in a single quarter was 6.8 million, a year-on-year increase of 65.8%; the number of credit users was 22.7 million, a year-on-year increase of 68.4%. In addition, on August 10, the number of Lexin users exceeded 100 million.
Although Lexin’s GMV was affected by the epidemic, it fell by 27.3% year-on-year. But from users and Xinye