10 Best Chinese Stocks to Buy According to Billionaires

8. Qifu Technology, Inc. (NASDAQ:QFIN)

No. of Billionaire Investors: 10

Total Billionaire Stake: $178.9 Million

No. of Hedge Fund Holders: 30

Qifu Technology, Inc. (NASDAQ:QFIN),  formerly known as 360 DigiTech Inc., is a Chinese company that is engaged in credit technology services. It connects individuals and businesses to borrow money with banks and assists these institutions evaluate the creditworthiness of borrowers, match funds, and manage loans after they are issued. Qifu also provides platform services to financial institutions including loan assistance, intelligent marketing, referral services, and risk management.

Qifu Technology, Inc. (NASDAQ:QFIN) ended 2024 on a high note as the company posted a record non-GAAP net income of RMB 1.97 billion, up by 71.5% year-over-year. Whereas, the full-year net income was around RMB 6.42 billion, a 44% increase from a year ago. Qifu improved its user acquisition efficiency, with a 16.2% year-over-year rise in new borrowers and a 5.3% decline in average acquisition cost per credit line user. The company also recorded a notable improvement in asset quality, with a decline in the D1 delinquency rate and an increase in the 30-day collection rate. Qifu executed a $410 million share repurchase program in 2024.

Earlier in December, Analyst Manyi Lu from DBS noted that he is expecting Qifu to report a mid-single-digit earnings growth for the fiscal years 2025 and 2026.