CICC: Maintains an outperform rating on Qifu Technology-S (03660) with a target price of HK$253.4.

According to the Smart Finance APP, Zhongjin released a research report stating that due to Qifu Technology-S (03660) optimizing funding/credit costs and first quarter 2025 loan volume exceeding expectations, the company's 25e/26e profit forecast has been raised by 2%/4% to 71.7/78.2 billion yuan. The company's US stock is currently trading at 7.1x/6.5x 25e/26e P/E, while its Hong Kong stock is trading at 6.6x/6.0x 25e/26e P/E. The company's US/Hong Kong stock target price remains unchanged at $60.0/253.4 Hong Kong dollars (corresponding to 9.7x/8.9x 25e/26e P/E for US stocks and 9.4x/8.5x 25e/26e P/E for Hong Kong stocks), maintaining an outperform industry rating with upside potential of 37%/42% for US/Hong Kong stocks respectively.