Caixin
Apr 24, 2018 07:36 PM
FINANCE

Fintech Focus: Qudian Adapts to New Environment

A banner of online consumer loan provider Qudian Inc. hangs outside the New York Stock Exchange on Oct. 18, the day the company went public in the U.S. Photo: IC
A banner of online consumer loan provider Qudian Inc. hangs outside the New York Stock Exchange on Oct. 18, the day the company went public in the U.S. Photo: IC

Qudian Inc. was the toast of the town when it made a $900 million initial public offering (IPO) in October, becoming the largest such offering in New York for a new group of Chinese financial technology (fintech) companies. But after a brief rally, things quickly went south for the stock amid a regulatory crackdown and concerns over the company’s ratio of bad loans, even as it announced forays into new businesses such as auto financing.

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