- Launching Ready-to-Cook Meal Business
Nationwide -
XIAMEN,
China, April 14, 2022 /PRNewswire/ -- Qudian
Inc. ("Qudian" or the "Company") (NYSE: QD), a
consumer-oriented technology company in China, today announced
it has launched a new strategic business initiative in
ready-to-cook meals, or QD Food.
Qudian has been exploring innovative consumer products and
services to satisfy Chinese consumers' fundamental and daily needs
by leveraging its technology capabilities. As a result, Qudian
launched its QD Food business on a trial basis in March 2022. Catering to working-class families,
QD Food features ready-to-cook dishes that can be conveniently
prepared at home using simple procedures. Consumers order QD Food
products on their smartphones through Qudian's WeChat
mini-program.
QD Food products are currently available in Shenzhen, and Qudian plans to expand the new
business offerings to other cities in China. As of April 13,
2022, over 80 thousand unique users have placed orders since
the Company launched the service in late March 2022. The typical price range of QD Food
products is between RMB12.9 and
RMB44.9 per unit before coupon
discounts.
"We look forward to tapping into the opportunities offered by
the strong demand for innovative consumer products and services in
China," said Min Luo, Founder, Chairman and Chief Executive
Officer of Qudian, "We expect our ready-to-cook meal business will
become an important revenue stream in 2022. Since our inception, we
have accumulated extensive knowledge and deep insights with respect
to Chinese consumers, which, together with our technology
capabilities, are driving our competitive strengths in this new
business endeavor. "
In light of the regulatory uncertainties in China's online consumer finance market and to
maintain its asset quality, Qudian has implemented stringent credit
standards for its loan business, which have led to a significant
decrease in the number of loans facilitated in the first quarter of
2022. As a result, the Company expects its revenue to decline
sequentially in the first quarter of 2022, compared with the fourth
quarter of 2021. In addition, the Company expects further decreases
in the total amount of loans facilitated and related revenue in the
second quarter of 2022. Qudian will continue to evaluate conditions
in the online consumer finance market and relevant regulatory
developments. Based on this ongoing assessment, the Company may
wind down its credit business.
In the near term, Qudian expects to offer discounts and incur
significant marketing expenses to expand QD Food's user base. As a
result, the Company expects to incur losses initially in connection
with this new venture. At the same time, it will continue to
explore new business initiatives to increase stakeholders'
long-term value.
About Qudian Inc.
Qudian Inc. ("Qudian") is a consumer-oriented technology
company in China. The Company
historically focused on providing credit solutions to consumers.
The Company is exploring innovative consumer products and services
to satisfy Chinese consumers' fundamental and daily needs by
leveraging its technology capabilities. In March 2022, it launched a ready-to-cook meal
business catering to working-class consumers in China.
For more information, please
visit https://ir.qudian.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency, contains forward-looking
statements. Qudian may also make written or oral
forward-looking statements in its periodic reports to the SEC,
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements
about Qudian's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Qudian's goal and
strategies; Qudian's expansion
plans; Qudian's future business development, financial
condition and results of
operations; Qudian's expectations regarding demand for,
and market acceptance of, its
products; Qudian's expectations regarding keeping and
strengthening its relationships with customers, business partners
and other parties it collaborates with; general economic and
business conditions; and assumptions underlying or related to any
of the foregoing. Further information regarding these and other
risks is included in Qudian's filings with the SEC.
All information provided in this press release and in the
attachments is as of the date of this press release,
and Qudian does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Qudian Inc.
IR team
Tel: +86-592-596-8208
E-mail: ir@qudian.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
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SOURCE Qudian Inc.