Qudian (NYSE:QD) saw its second-quarter revenue for 2025 tumble 93.5% year-on-year, as the company phases out its last-mile delivery operations amid mounting competition.
Despite the steep decline in top-line revenue, net income surged during the quarter, largely thanks to a 392.3% rise in interest and investment income.
General and administrative costs climbed 39.6%, reflecting higher depreciation and property tax expenses tied to the construction of the company’s headquarters.
Looking forward, Qudian aims to prioritize business restructuring for sustainable growth while adopting careful cash management practices to strengthen its balance sheet as it exits the last-mile delivery sector.
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