LOS ANGELES, Nov. 10, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm notifies investors in Qfin Holdings, Inc. (NASDAQ: QFIN) that a securities class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Qfin common stock between March 18, 2026 and August 25, 2026, inclusive (the ‘Class Period’). Find out if you qualify to recover your per-share losses by choosing to join the class action and submit your trade details. Investors who suffered financial losses have until November 27, 2026 to seek appointment as lead plaintiff. Shareholders should contact Lesley Portnoy via e-mail (Lesley@portnoylaw.com or call (310) 692-8883) or visit http://portnoylaw.com/qfin-holdings-inc to learn more information and discuss their legal rights.
Please visit our website for more information on how to participate in this class action.
Qfin, along with its corporate subsidiaries, functions as a alleged AI-powered credit technology business operating under the “Qifu Jietiao” name within the People’s Republic of China (“China” or the “PRC”). The firm offers credit-based solutions that connect borrowers to financial institutional partners, handling borrower acquisition, credit evaluation, capital matching, and post-facilitation care, alongside a variety of consumer finance platform services—most notably loan-facilitation assistance for financial institution partners, a smart credit engine, and user referral services. The business serves financial institutions, retail consumers, and small-to-micro businesses.
During 2025, China’s consumer finance sector underwent a systemic restructuring triggered by fresh PRC regulatory directives, which encompassed key measures like updated loan facilitation standards, window guidance directed at consumer finance providers, and overarching regulatory frameworks governing total financing costs for micro lenders. Former Chief Executive Officer Defendant Haisheng Wu admitted that, “[i]n the near term, these measures tightened market liquidity, which in turn suppressed credit demand and put unprecedented pressure on both loan growth and risk management across the industry.”
Despite these oncoming regulatory obstacles, Defendants repeatedly praised Qfin’s capacity throughout the Class Period to not only navigate, but successfully adjust to and flourish under, the ongoing and evolving PRC regulations governing its core business. Specifically, Defendants continually depicted Qfin’s operations as “resilient,” “steady,” and “stable” amidst these regulatory shifts, while highlighting the organization’s supposedly “proactive” initiatives and internal policies tailored to bolster—and allegedly already enhancing—Qfin’s risk profile and core operational metrics.
The action asserts that Defendants distributed materially false and misleading statements about the organization’s business model, operational health, and future prospects across the Class Period. In particular, Defendants provided false or misleading assurances and/or omitted critical facts showing that: (i) Defendants overstated Qfin’s operational resilience and overall financial stability in the wake of regulatory modifications; (ii) Defendants minimized the real scale and intensity of the adverse effect regulatory challenges would exert, and were actively exerting, on the organization’s operations and financial metrics; and (iii) consequently, Defendants’ public representations remained materially false and misleading during all relevant periods.
The underlying reality surfaced on August 25, 2026, when Qfin published an after-hours press release disclosing its Q2 and interim 2026 unaudited financial performance. The firm revealed that aggregate net revenue dropped 31.6% year-over-year (“Y/Y”), declining from roughly RMB 5.22 billion down to roughly RMB 3.57 billion, coming in well below consensus expectations. Furthermore, net income cratered 76.8% Y/Y from approximately RMB 1.73 billion down to RMB 401.4 million, hit hard by an unprojected RMB 500 million tax assessment “caused by a change in tax treatment of certain entities based on the updated interpretation of related tax regulations by the tax authorities.” Executive leadership also provided weak forward-looking guidance, forecasting a 67% to 73% Y/Y drop in Q3 non-GAAP net income driven by mounting capital costs and broad liquidity shocks across China’s consumer credit space.
Addressing the weak performance, Defendant Wu pointed to “a challenging market environment marked by continued industry contraction, tighter regulatory oversight, and a sudden industry-wide liquidity shock in late June,” cautioning that “[l]ooking ahead, we expect industry adjustments to continue, with funding conditions and risk management likely to remain under pressure.”
Following this revelation, Qfin’s American depositary share (“ADS”) price plummeted $2.18 per ADS, representing an 18.91% decline, to settle at $9.35 per ADS on August 26, 2026.
WHY PORTNOY LAW FIRM
The Portnoy Law Firm represents investors in complex securities class action litigation and shareholder rights matters across the nation. Founded by Lesley Portnoy, the firm’s attorneys have recovered billions of dollars for aggrieved institutional and retail investors. The firm leverages extensive legal expertise and sophisticated financial forensic capabilities to hold public corporations accountable for corporate wrongdoing and misrepresentation.
Lead Plaintiff Deadline: Investors who suffered losses on Qfin Holdings, Inc. stock during the Class Period have until November 27, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the Qfin Lawsuit
Q: What is the Qfin lead plaintiff deadline?
A: The deadline to apply for lead plaintiff appointment is November 27, 2026. This deadline applies strictly to investors seeking to serve as lead plaintiff representing the class. Class members who do not apply may still participate in any eventual financial recovery as absent class members without taking any action at this time.
Q: How much did Qfin stock drop and on what dates?
A: Following the post-market disclosure of its second quarter and interim 2026 financial results on August 25, 2026, Qfin Holdings, Inc.’s American depositary share (ADS) price fell $2.18 per ADS, or 18.91%, to close at $9.35 per ADS on August 26, 2026.
Q: What specific misstatements does the Bank of America lawsuit allege?
A: The complaint alleges that Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants overstated the resiliency and stability of Qfin’s business and financial results despite regulatory changes, and likewise downplayed the true scope and severity of the negative impact that regulatory headwinds were likely to have, and were already having, on the Company’s business and financial results.
Q: What do Qfin investors need to do right now?
A: Investors who purchased QFIN common stock during the Class Period (March 18, 2026 through August 25, 2026) should gather their trade confirmation slips or brokerage transaction logs showing purchase dates, number of shares, and prices paid. You may submit your trade details to Portnoy Law Firm here for a free, no-obligation evaluation of your potential loss recovery. No immediate legal action is required to remain an eligible absent class member.
Q: Does it cost anything to participate in this case as a lead plaintiff?
A: A lead plaintiff does not pay any fees or expenses out of pocket. Our firm works on a contingency basis, and will collect any fees or expenses directly from a future recovery.
Q: What is a lead plaintiff and why does it matter?
A: A lead plaintiff is a court-appointed class member who acts on behalf of all other class members in directing the litigation. The lead plaintiff is typically the investor or group of investors that makes a motion with the largest financial interest in the relief sought. While serving as lead plaintiff does not increase an investor’s individual financial recovery compared to other class members, it gives the investor direct authority to select lead counsel and oversee the prosecution of the lawsuit.
Q: Does the lead plaintiff receive any type of compensation?”
A: Yes, in many cases, Courts award the lead plaintiff an additional amount of money to compensate the lead plaintiff for their participation in the case.
Q: What if I already sold my Qfin shares — can I still recover losses?
A: Yes. Eligibility to participate in a securities class action recovery depends on whether you purchased or acquired QFIN common stock during the Class Period (March 18, 2026 to August 25, 2026) and suffered an economic loss. Investors who sold their shares prior to or after the public disclosures may still be eligible to recover damages based on the artificial inflation present in the stock at the time of purchase.
Q: How long will the Qfin lawsuit take to resolve?
A: Securities class action lawsuits typically take between two and four years from initial filing to full resolution. The exact timeline depends on court scheduling, motion practice (such as motions to dismiss), pre-trial discovery, and potential settlement negotiations or trial proceedings.
Q: Can I choose a different law firm to represent me?
A: Yes. Investors have the absolute right to retain any legal counsel of their choice. When multiple class action complaints are filed, the court will consolidate the actions and appoint a lead plaintiff and lead counsel. You may choose to be represented by Portnoy Law Firm, retain separate counsel, or remain an absent class member represented by court-appointed lead counsel.
CONTACT INFORMATION
Portnoy Law Firm
Lesley Portnoy, Esq.
Email: lesley@portnoylaw.com / info@portnoylaw.com
Telephone: (310) 692-8883
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