Business Context and Reporting Period
This Form 6-K filing by Qifu Technology, Inc. (formerly 360 DigiTech, Inc.) covers the month of April 2023. The submission is a supplemental report pursuant to Item 16I(a) of Form 20-F, addressing requirements under the Holding Foreign Companies Accountable Act (HFCAA). The filing aims to demonstrate that the Company is not owned or controlled by a governmental entity in mainland China.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a regulatory compliance submission regarding corporate ownership structure rather than a financial performance report.
Material Changes
No material financial changes are reported in this filing. The document references the Company's annual report on Form 20-F for the year ended December 31, 2022, filed on April 27, 2023, for detailed financial and operational data.
Guidance, Outlook, and Risks
HFCAA Compliance Status: The Company was previously identified as a Commission-Identified Issuer under the HFCAA due to its auditor, Deloitte Touche Tohmatsu Certified Public Accountants LLP, being headquartered in mainland China. The filing asserts that the PCAOB vacated its determination regarding inspection limitations in December 2022.
Ownership Structure: The Company states it is not aware of any governmental entity in mainland China possessing the power to direct its management or policies. As of February 28, 2023, no shareholder other than the following entities owned more than 5% of the total issued and outstanding shares:
- Aerovane Company Limited: 12.3% (Wholly owned by the children of the Chairman of the Board).
- Ruby Finance Holdings Ltd.: 7.3% (Controlled by FountainVest China Capital Partners GP3 Ltd.).
- Aspex Management (HK) Ltd: 6.8%.
- OLP Capital Management Limited: 6.0%.
- Sumitomo Mitsui Financial Group, Inc.: 6.0%.
Investor Verification Checklist
- Verify the Company's current HFCAA status and whether the PCAOB inspection determination remains vacated.
- Review the Form 20-F filed on April 27, 2023, for actual financial performance metrics (revenue, profit, cash flow) which are absent in this filing.
- Confirm the beneficial ownership percentages of major shareholders as of the most recent reporting date.
- Assess the independence of the Company's management from mainland Chinese governmental entities based on the disclosed shareholder structure.