{"success":true,"data":{"pressRelease":{"id":"160614","rtpr_id":"nGNXb03cDd-20261005","ticker":"QFIN","exchange":"NASDAQ","all_tickers":["QFIN","3660"],"title":"Portnoy Law Firm Announces Class Action on Behalf of Qfin Holdings, Inc. Investors","author":"Globe Newswire","published_at":"2026-10-05T13:00:01.205Z","article_body":"LOS ANGELES, Oct. 05, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=UF5EfqGdHwC-oVGdlxAJrC4Dcm-pPQDf8MIHpb-3fmGRJnEVFvxkk3dAS_78QL56OLFy_fh_62DksWdUyFuwNatPXaMyWFEtPPLihUsH3R0VJKiCa5QsYPdvbzFFSSEM)\nadvises Qfin Holdings, Inc., (“Qfin” or the \"Company\") (NASDAQ: QFIN)\ninvestors of a class action on behalf of investors that bought securities\nbetween March 18, 2026 and August 25, 2026, inclusive (the “Class\nPeriod”). Qfin investors have until November 27, 2026 to file a lead\nplaintiff motion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=iyCzTpq7KwwkTHEjJTS5rheMNmk1cdVvVx--TXCKMgjDn6ddN2KN2WG_zTPuppoh1hs_vLVSaQmpkQGyKNBinEJgcahQz8MM69fWtHnSln0jHijo66pbYDN2z_zBQzSv), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=LaGQgvyQSaBwFkmHR1HI3gF8qhTGnl9bq-8kFFZHHOWXvwXDJtI6PP2Z3X8LkL9dHUrnjN9k7JT--PoEPFHcv68ta5mo3w68plG15hwQxJA=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/qfin-holdings-inc. The Portnoy Law Firm can provide a\ncomplimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nQfin, along with its corporate subsidiaries, functions as a alleged AI-powered\ncredit technology business operating under the \"Qifu Jietiao\" name within the\nPeople's Republic of China (\"China\" or the \"PRC\"). The firm offers\ncredit-based solutions that connect borrowers to financial institutional\npartners, handling borrower acquisition, credit evaluation, capital matching,\nand post-facilitation care, alongside a variety of consumer finance platform\nservices—most notably loan-facilitation assistance for financial institution\npartners, a smart credit engine, and user referral services. The business\nserves financial institutions, retail consumers, and small-to-micro\nbusinesses.\n\nDuring 2025, China's consumer finance sector underwent a systemic\nrestructuring triggered by fresh PRC regulatory directives, which encompassed\nkey measures like updated loan facilitation standards, window guidance\ndirected at consumer finance providers, and overarching regulatory frameworks\ngoverning total financing costs for micro lenders. Former Chief Executive\nOfficer Defendant Haisheng Wu admitted that, \"[i]n the near term, these\nmeasures tightened market liquidity, which in turn suppressed credit demand\nand put unprecedented pressure on both loan growth and risk management across\nthe industry.\"\n\nDespite these oncoming regulatory obstacles, Defendants repeatedly praised\nQfin's capacity throughout the Class Period to not only navigate, but\nsuccessfully adjust to and flourish under, the ongoing and evolving PRC\nregulations governing its core business. Specifically, Defendants continually\ndepicted Qfin's operations as \"resilient,\" \"steady,\" and \"stable\" amidst these\nregulatory shifts, while highlighting the organization's supposedly\n\"proactive\" initiatives and internal policies tailored to bolster—and\nallegedly already enhancing—Qfin's risk profile and core operational\nmetrics.\n\nThe action asserts that Defendants distributed materially false and misleading\nstatements about the organization's business model, operational health, and\nfuture prospects across the Class Period. In particular, Defendants provided\nfalse or misleading assurances and/or omitted critical facts showing that: (i)\nDefendants overstated Qfin's operational resilience and overall financial\nstability in the wake of regulatory modifications; (ii) Defendants minimized\nthe real scale and intensity of the adverse effect regulatory challenges would\nexert, and were actively exerting, on the organization's operations and\nfinancial metrics; and (iii) consequently, Defendants' public representations\nremained materially false and misleading during all relevant periods.\n\nThe underlying reality surfaced on August 25, 2026, when Qfin published an\nafter-hours press release disclosing its Q2 and interim 2026 unaudited\nfinancial performance. The firm revealed that aggregate net revenue dropped\n31.6% year-over-year (\"Y/Y\"), declining from roughly RMB 5.22 billion down to\nroughly RMB 3.57 billion, coming in well below consensus expectations.\nFurthermore, net income cratered 76.8% Y/Y from approximately RMB 1.73 billion\ndown to RMB 401.4 million, hit hard by an unprojected RMB 500 million tax\nassessment \"caused by a change in tax treatment of certain entities based on\nthe updated interpretation of related tax regulations by the tax authorities.\"\nExecutive leadership also provided weak forward-looking guidance, forecasting\na 67% to 73% Y/Y drop in Q3 non-GAAP net income driven by mounting capital\ncosts and broad liquidity shocks across China's consumer credit space.\n\nAddressing the weak performance, Defendant Wu pointed to \"a challenging market\nenvironment marked by continued industry contraction, tighter regulatory\noversight, and a sudden industry-wide liquidity shock in late June,\"\ncautioning that \"[l]ooking ahead, we expect industry adjustments to continue,\nwith funding conditions and risk management likely to remain under pressure.\"\n\nFollowing this revelation, Qfin's American depositary share (\"ADS\") price\nplummeted $2.18 per ADS, representing an 18.91% decline, to settle at $9.35\nper ADS on August 26, 2026.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXb03cDd-20261005","title":"Portnoy Law Firm Announces Class Action on Behalf of Qfin Holdings, Inc. Investors","author":"Globe Newswire","ticker":"QFIN","created":"2026-10-05T13:00:01.205Z","tickers":["QFIN","3660"],"exchange":"NASDAQ","article_body":"LOS ANGELES, Oct. 05, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=UF5EfqGdHwC-oVGdlxAJrC4Dcm-pPQDf8MIHpb-3fmGRJnEVFvxkk3dAS_78QL56OLFy_fh_62DksWdUyFuwNatPXaMyWFEtPPLihUsH3R0VJKiCa5QsYPdvbzFFSSEM)\nadvises Qfin Holdings, Inc., (“Qfin” or the \"Company\") (NASDAQ: QFIN)\ninvestors of a class action on behalf of investors that bought securities\nbetween March 18, 2026 and August 25, 2026, inclusive (the “Class\nPeriod”). Qfin investors have until November 27, 2026 to file a lead\nplaintiff motion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=iyCzTpq7KwwkTHEjJTS5rheMNmk1cdVvVx--TXCKMgjDn6ddN2KN2WG_zTPuppoh1hs_vLVSaQmpkQGyKNBinEJgcahQz8MM69fWtHnSln0jHijo66pbYDN2z_zBQzSv), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=LaGQgvyQSaBwFkmHR1HI3gF8qhTGnl9bq-8kFFZHHOWXvwXDJtI6PP2Z3X8LkL9dHUrnjN9k7JT--PoEPFHcv68ta5mo3w68plG15hwQxJA=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/qfin-holdings-inc. The Portnoy Law Firm can provide a\ncomplimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nQfin, along with its corporate subsidiaries, functions as a alleged AI-powered\ncredit technology business operating under the \"Qifu Jietiao\" name within the\nPeople's Republic of China (\"China\" or the \"PRC\"). The firm offers\ncredit-based solutions that connect borrowers to financial institutional\npartners, handling borrower acquisition, credit evaluation, capital matching,\nand post-facilitation care, alongside a variety of consumer finance platform\nservices—most notably loan-facilitation assistance for financial institution\npartners, a smart credit engine, and user referral services. The business\nserves financial institutions, retail consumers, and small-to-micro\nbusinesses.\n\nDuring 2025, China's consumer finance sector underwent a systemic\nrestructuring triggered by fresh PRC regulatory directives, which encompassed\nkey measures like updated loan facilitation standards, window guidance\ndirected at consumer finance providers, and overarching regulatory frameworks\ngoverning total financing costs for micro lenders. Former Chief Executive\nOfficer Defendant Haisheng Wu admitted that, \"[i]n the near term, these\nmeasures tightened market liquidity, which in turn suppressed credit demand\nand put unprecedented pressure on both loan growth and risk management across\nthe industry.\"\n\nDespite these oncoming regulatory obstacles, Defendants repeatedly praised\nQfin's capacity throughout the Class Period to not only navigate, but\nsuccessfully adjust to and flourish under, the ongoing and evolving PRC\nregulations governing its core business. Specifically, Defendants continually\ndepicted Qfin's operations as \"resilient,\" \"steady,\" and \"stable\" amidst these\nregulatory shifts, while highlighting the organization's supposedly\n\"proactive\" initiatives and internal policies tailored to bolster—and\nallegedly already enhancing—Qfin's risk profile and core operational\nmetrics.\n\nThe action asserts that Defendants distributed materially false and misleading\nstatements about the organization's business model, operational health, and\nfuture prospects across the Class Period. In particular, Defendants provided\nfalse or misleading assurances and/or omitted critical facts showing that: (i)\nDefendants overstated Qfin's operational resilience and overall financial\nstability in the wake of regulatory modifications; (ii) Defendants minimized\nthe real scale and intensity of the adverse effect regulatory challenges would\nexert, and were actively exerting, on the organization's operations and\nfinancial metrics; and (iii) consequently, Defendants' public representations\nremained materially false and misleading during all relevant periods.\n\nThe underlying reality surfaced on August 25, 2026, when Qfin published an\nafter-hours press release disclosing its Q2 and interim 2026 unaudited\nfinancial performance. The firm revealed that aggregate net revenue dropped\n31.6% year-over-year (\"Y/Y\"), declining from roughly RMB 5.22 billion down to\nroughly RMB 3.57 billion, coming in well below consensus expectations.\nFurthermore, net income cratered 76.8% Y/Y from approximately RMB 1.73 billion\ndown to RMB 401.4 million, hit hard by an unprojected RMB 500 million tax\nassessment \"caused by a change in tax treatment of certain entities based on\nthe updated interpretation of related tax regulations by the tax authorities.\"\nExecutive leadership also provided weak forward-looking guidance, forecasting\na 67% to 73% Y/Y drop in Q3 non-GAAP net income driven by mounting capital\ncosts and broad liquidity shocks across China's consumer credit space.\n\nAddressing the weak performance, Defendant Wu pointed to \"a challenging market\nenvironment marked by continued industry contraction, tighter regulatory\noversight, and a sudden industry-wide liquidity shock in late June,\"\ncautioning that \"[l]ooking ahead, we expect industry adjustments to continue,\nwith funding conditions and risk management likely to remain under pressure.\"\n\nFollowing this revelation, Qfin's American depositary share (\"ADS\") price\nplummeted $2.18 per ADS, representing an 18.91% decline, to settle at $9.35\nper ADS on August 26, 2026.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-05T13:00:02.475418282Z","server_sent_at_ms":1791205202475},"received_at":"2026-10-05T13:00:02.525Z","source_url":null},"analysis":{"id":"149173","press_release_id":"160614","analysis_json":{"industry":{"label":"Consumer Finance","sector":"Financials"},"redFlags":["Pending securities class action alleging misleading statements about operational resilience under PRC regulatory shifts","Underlying disclosure revealed RMB 500 million unprojected tax assessment and 67-73% guided Q3 net income decline"],"eventType":"legal_litigation","narrative":"The Portnoy Law Firm announced a securities class action against Qfin Holdings on behalf of investors who bought between March 18, 2026 and August 25, 2026, with a November 27, 2026 lead-plaintiff deadline.\n\nThe claims center on the August 25 earnings release, in which Qfin reported net revenue down 31.6% Y/Y and net income down 76.8% Y/Y, including an unprojected RMB 500 million tax assessment; QFIN ADSs fell 18.91% to $9.35 the next day.\n\nThis release itself is law-firm solicitation, not new issuer disclosure, and warrants no change to the fundamental view beyond the already-known litigation exposure.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress; the substantive news (earnings collapse, ADS drop) was already priced in."},"keyFigures":{"customDimensions":{"ads_drop":"$2.18","ads_drop_pct":"18.91%","class_period":"March 18, 2026 - August 25, 2026","tax_assessment":"RMB 500 million","ads_close_aug_26":"$9.35","revenue_yoy_decline":"31.6%","net_income_yoy_decline":"76.8%","lead_plaintiff_deadline":"November 27, 2026","q3_non_gaap_net_income_guidance_decline":"67% to 73%"}},"quotedText":"","namedEntities":{"people":[{"name":"Lesley F. Portnoy","role":"founding partner, Portnoy Law Firm"},{"name":"Haisheng Wu","role":"former CEO and named defendant"}],"products":["Qifu Jietiao"],"companies":[{"name":"Qfin Holdings, Inc.","ticker":"QFIN","relationship":"class action defendant/target issuer"},{"name":"Portnoy Law Firm","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$2.18","context":"per-ADS price drop on August 26, 2026"},{"amount":"$9.35","context":"ADS closing price on August 26, 2026"},{"amount":"$5.5 billion","context":"recovered by firm's founding partner (attorney advertising)"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation (Portnoy Law Firm) announcing a class action and lead-plaintiff deadline. The class action itself was already effectively disclosed by the prior 18.91% earnings-driven drop; no certified class or settlement announced. Law-firm marketing, not issuer disclosure."},"tickerRelevance":{"others":[],"primary":"QFIN"},"globalImportance":18,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap ADR","eventGravity":"law-firm-solicitation","issuerAuthored":false,"underlyingEventNote":"material earnings miss and 18.91% ADS drop already disclosed August 25-26"}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"The Portnoy Law Firm announced a securities class action against Qfin Holdings on behalf of investors who bought between March 18, 2026 and August 25, 2026, with a November 27, 2026 lead-plaintiff deadline.\n\nThe claims center on the August 25 earnings release, in which Qfin reported net revenue down 31.6% Y/Y and net income down 76.8% Y/Y, including an unprojected RMB 500 million tax assessment; QFIN ADSs fell 18.91% to $9.35 the next day.\n\nThis release itself is law-firm solicitation, not new issuer disclosure, and warrants no change to the fundamental view beyond the already-known litigation exposure.","key_figures":{"customDimensions":{"ads_drop":"$2.18","ads_drop_pct":"18.91%","class_period":"March 18, 2026 - August 25, 2026","tax_assessment":"RMB 500 million","ads_close_aug_26":"$9.35","revenue_yoy_decline":"31.6%","net_income_yoy_decline":"76.8%","lead_plaintiff_deadline":"November 27, 2026","q3_non_gaap_net_income_guidance_decline":"67% to 73%"}},"named_entities":{"people":[{"name":"Lesley F. Portnoy","role":"founding partner, Portnoy Law Firm"},{"name":"Haisheng Wu","role":"former CEO and named defendant"}],"products":["Qifu Jietiao"],"companies":[{"name":"Qfin Holdings, Inc.","ticker":"QFIN","relationship":"class action defendant/target issuer"},{"name":"Portnoy Law Firm","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$2.18","context":"per-ADS price drop on August 26, 2026"},{"amount":"$9.35","context":"ADS closing price on August 26, 2026"},{"amount":"$5.5 billion","context":"recovered by firm's founding partner (attorney advertising)"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-05T13:00:13.429Z","global_importance":18,"audience_relevance":25,"importance_components":{"tickerTier":"mid-cap ADR","eventGravity":"law-firm-solicitation","issuerAuthored":false,"underlyingEventNote":"material earnings miss and 18.91% ADS drop already disclosed August 25-26"}},"durationMs":6800,"modelName":"glm-5.3-flashx"}}