This Is the Cheapest Chinese Stock I Own
This stock more than doubled last year, but it's still cheap after another blowout earnings report this week.
I own a handful of Chinese stocks, and one of the more obscure names is kicking off the new trading week by posting encouraging financial results. Qifu Technology (NASDAQ: QFIN) announced its fourth-quarter report on Monday morning. You may not be familiar with the company. The business is still worth exporing.
Qifu posted another quarter of strong growth. It also boosted its semiannual dividend. Despite the stock more than doubling last year it still trades at a low earnings multiple that got even lower after another big beat on the bottom line. Let's take a closer look at the business of Qifu and why it might be worthy of a ping on your investing radar.
Qifu bills itself as a leading artificial intelligence (AI)-empowered credit-tech platform in the world's second most populous nation. It provides credit solutions to a cumulative 56.9 million users with approved credit lines and 261.2 million total consumers, pairing them up with its growing network of 162 different providers of financial services.
