Pomerantz Law Firm Announces the Filing of a Class Action Against Qfin Holdings, Inc. and Certain Officers - QFIN

NEW YORK, Oct. 1, 2026 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Qfin Holdings, Inc. ("Qfin" or the "Company") (NASDAQ: QFIN) and certain officers.   The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 26-cv-06024, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Qfin securities between March 18, 2026 and August 25, 2026, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are an investor who purchased or otherwise acquired Qfin securities during the Class Period, you have until November 27, 2026 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.  To discuss this action, contact Danielle Peyton at [email protected] or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Qfin, together with its subsidiaries, operates a purported artificial intelligence-driven credit technology platform under the "Qifu Jietiao" brand in the People's Republic of China ("China" or the "PRC").  The Company provides credit-driven services that match borrowers with financial institutions to conduct borrower acquisition, credit assessment, fund matching, and post-facilitation services, as well as various consumer finance-related platform services, including, inter alia, loan-facilitation services to financial institution partners, an intelligence credit engine, and referral services.  The Company serves financial institutions, consumers, and small and micro-enterprises.

In 2025, China's consumer finance industry began a systemic restructuring in response to new PRC regulatory guidance, including the introduction of several key policies, such as new loan facilitation rules, window guidance for consumer finance companies, and guidelines on comprehensive financing cost management for micro lenders.  As Qfin's former Chief Executive Officer, Defendant Haisheng Wu, acknowledged, "[i]n the near term, these measures tightened market liquidity, which in turn suppressed credit demand and put unprecedented pressure on both loan growth and risk management across the industry."

Notwithstanding the resulting regulatory headwinds, Defendants, throughout the Class Period, touted Qfin's ability to not only weather, but also adapt and thrive in response to, the recent and emerging PRC regulations affecting its business.  For example, at all relevant times, Defendants characterized Qfin's business as, inter alia, "resilient", "steady", and "stable" in the face of these regulations, while touting the Company's purportedly "proactive" strategies and policies designed to improve, and which were purportedly already improving, Qfin's risk performance and other operational metrics.

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants had overstated the resiliency and stability of Qfin's business and financial results despite regulatory changes; (ii) Defendants likewise downplayed the true scope and severity of the negative impact that regulatory headwinds were likely to have, and were already having, on the Company's business and financial results; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times.

The truth began to emerge on August 25, 2026, when Qfin issued a press release during post-market hours announcing its second quarter and interim 2026 unaudited financial results.  The Company reported, inter alia, that total net revenue fell 31.6% year-over-year ("Y/Y") from approximately RMB 5.22 billion to approximately RMB 3.57 billion, significantly missing consensus estimates.  In addition, net income plummeted 76.8% Y/Y from approximately RMB 1.73 billion to RMB 401.4 million, heavily impacted by an unexpected RMB 500 million tax expense "caused by a change in tax treatment of certain entities based on the updated interpretation of related tax regulations by the tax authorities."  Management also issued disappointing forward financial guidance, projecting a 67% to 73% Y/Y decrease in third quarter non-GAAP net income due to rising funding costs and systemic liquidity shocks in the Chinese consumer credit market.

In discussing these disappointing results, Defendant Wu cited, inter alia, "a challenging market environment marked by continued industry contraction, tighter regulatory oversight, and a sudden industry-wide liquidity shock in late June", warning that, "[l]ooking ahead, we expect industry adjustments to continue, with funding conditions and risk management likely to remain under pressure."

On this news, Qfin's American depositary share ("ADS") price fell $2.18 per ADS, or 18.91%, to close at $9.35 per ADS on August 26, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP