Qudian

Qudian is a Chinese technology and fintech company platform for the enhancement of online consumer finance experience in China. The company was founded in 2014 in Beijing as an online small consumer credit provider and is headquartered in Xiamen.[1] In 2017, Qudian raised US$900 million in its initial public offering (IPO) on the New York Stock Exchange.[2]

History

Founded by entrepreneur Luo Min in 2014 in Beijing, Qudian got its start as a consumer credit firm, raising $900 million on the New York Stock Exchange in 2017. Although, at the start of its IPO, its share rocketed to nearly $25, it eventually went through a correction period as it was extremely overpriced for a fintech company back in 2017, the stock falling from $13.50 in November 2019 to just over $1.50 in May 2020 due to the effect of the coronavirus pandemic that hit China before the rest of the world, and for the cautious approach the company has adopted to accommodate the Chinese government's regulatory demands. The company is also exploring e-learning as the world is technically moving into a more secure, safer and effective online environment. In May 2019, Alibaba’s Ant Financial, one of its earliest backers, preferred to sell its stake in the Xiamen-based company and take the profit of their investment. The company nevertheless continued in its program which it had initiated. In March 2020, Qudian launched Wanlimu (万里目), a new luxury e-tailer.

Early January 2021 the stock rocketed by nearly 80% and reached the heights of $2.10 thanks to the optimism that engulfed the tech stock market in general, and the realisation of the powerful and meaningful part that fintech companies can play in the formation and advancing the future of the newly adopted banking methods in providing banking services to the hundreds of millions that have been unable to bank with the traditional banks.

Qudian is a pioneer in the Chinese market and beyond and its stock is forecasted by Wall Street analysts to reach the heights of $9.00 within the next twelve months period although taking in consideration the current level of enthusiasm and the trust investors are pinning on Qudian, the stock could reach that target much sooner.

As of 21 January 2021, the stock stand at $2.20 per share.

References
  1. https://technode.com/2018/11/15/qudian-relocate-leave-comany/ Qudian reportedly forces employees to relocate to Xiamen or leave company
  2. "Qudian raises $900 mln in biggest U.S. listing by a Chinese fintech firm". Reuters. October 18, 2017. Retrieved September 29, 2018.
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