Qfin Holdings: Profitable, Cash-Rich, And Left For Dead [Seeking Alpha]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
NASDAQ:AMEX Investor Relations:
coli.com.hk/en/ir
Company Research
Source: Seeking Alpha
Trading at ~2.3x earnings with a $1.5B cash pile (effectively trading near cash value) and a 73% payout ratio. Regulatory reforms, such as the 15th Five-Year Plan's new Anti-Unfair Competition Law effectively bans destructive price wars and "below-cost" pricing, creating a regulatory floor for QFIN's margins. QFIN is successfully transforming from a lender into a "Tech Utility" for banks, evidenced by a 218% sequential explosion in the Technology Solutions segment, partnering with over 20 financial institutions. Robust capital return (73% payout ratio), 24.1% buyback-adjusted ROE, 613% provision coverage, and substantial insider/institutional buying anchor downside and support a multi-year re-rating thesis. Despite a bearish chart, "Smart Money" is aggressively buying the dip, including a ~742% position increase from Singapore's conservative OCBC Bank and significant open-market purchases by QFIN's founder. BlackJack3D/iStock via Getty Images Investment Thesis: The Regulat
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