QFIN Holdings, Inc. filed Exhibit 99.1 providing IFRS to U.S. GAAP reconciliations for financial statements for years ended December 31, 2024 and 2025, showing adjusted net income of RMB 5,757,885 thousand and RMB 6,277,418 thousand respectively.
Key takeaways
IFRS net income for 2024: RMB 5,757,885 thousand vs. U.S. GAAP RMB 6,248,116 thousand, primarily due to expected credit losses adjustment.
IFRS net income for 2025: RMB 6,277,418 thousand vs. U.S. GAAP RMB 5,975,643 thousand, boosted by convertible senior notes fair value changes.
Key IFRS adjustments include expected credit losses (Note i), effective interest rate on loans (Note ii), share-based compensation (Note iii), financial guarantees (Note iv), and convertible notes (Note v) for 2025.
Total net revenue under IFRS: RMB 17,059,709 thousand (2024) and RMB 19,166,097 thousand (2025).
Balance sheet total assets under IFRS: RMB 46,493,311 thousand as of Dec 31, 2024 and RMB 55,424,783 thousand as of Dec 31, 2025.