Intrinsic value of Qudian ADR - QD

Previous Close

$4.58

  Intrinsic Value

$1,248

stock screener

  Rating & Target

str. buy

+999%

Previous close

$4.58

 
Intrinsic value

$1,248

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of QD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,155
  1,784
  2,668
  3,872
  5,462
  7,509
  10,080
  13,236
  17,031
  21,512
  26,712
  32,659
  39,365
  46,836
  55,071
  64,061
  73,792
  84,251
  95,418
  107,278
  119,816
  133,017
  146,872
  161,375
  176,524
  192,320
  208,771
  225,886
  243,682
  262,179
Variable operating expenses, $m
  564
  871
  1,302
  1,889
  2,665
  3,664
  4,918
  6,457
  8,309
  10,495
  13,032
  15,933
  19,205
  22,850
  26,868
  31,254
  36,002
  41,104
  46,552
  52,339
  58,455
  64,896
  71,656
  78,731
  86,122
  93,828
  101,854
  110,204
  118,887
  127,911
Fixed operating expenses, $m
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  7
  7
  8
  8
Total operating expenses, $m
  568
  875
  1,306
  1,893
  2,669
  3,669
  4,923
  6,462
  8,314
  10,500
  13,037
  15,938
  19,210
  22,855
  26,874
  31,260
  36,008
  41,110
  46,558
  52,345
  58,461
  64,902
  71,663
  78,738
  86,129
  93,835
  101,861
  110,211
  118,895
  127,919
Operating income, $m
  587
  909
  1,362
  1,978
  2,793
  3,841
  5,157
  6,773
  8,717
  11,012
  13,675
  16,720
  20,154
  23,980
  28,198
  32,801
  37,785
  43,141
  48,860
  54,934
  61,354
  68,115
  75,210
  82,637
  90,395
  98,485
  106,909
  115,674
  124,788
  134,260
EBITDA, $m
  588
  910
  1,363
  1,979
  2,794
  3,843
  5,160
  6,776
  8,721
  11,016
  13,680
  16,727
  20,162
  23,990
  28,209
  32,814
  37,800
  43,158
  48,879
  54,955
  61,378
  68,141
  75,240
  82,670
  90,431
  98,523
  106,951
  115,719
  124,837
  134,313
Interest expense (income), $m
  28
  69
  78
  92
  110
  135
  169
  212
  266
  332
  412
  506
  616
  741
  882
  1,039
  1,212
  1,401
  1,605
  1,825
  2,060
  2,309
  2,573
  2,850
  3,142
  3,447
  3,765
  4,097
  4,443
  4,803
  5,177
Earnings before tax, $m
  518
  831
  1,271
  1,868
  2,657
  3,672
  4,945
  6,507
  8,385
  10,599
  13,169
  16,104
  19,414
  23,099
  27,159
  31,589
  36,384
  41,535
  47,035
  52,874
  59,045
  65,542
  72,360
  79,496
  86,949
  94,720
  102,812
  111,231
  119,985
  129,083
Tax expense, $m
  140
  224
  343
  504
  717
  991
  1,335
  1,757
  2,264
  2,862
  3,556
  4,348
  5,242
  6,237
  7,333
  8,529
  9,824
  11,215
  12,699
  14,276
  15,942
  17,696
  19,537
  21,464
  23,476
  25,574
  27,759
  30,032
  32,396
  34,853
Net income, $m
  378
  607
  928
  1,364
  1,940
  2,681
  3,610
  4,750
  6,121
  7,738
  9,613
  11,756
  14,172
  16,862
  19,826
  23,060
  26,560
  30,321
  34,335
  38,598
  43,103
  47,845
  52,823
  58,032
  63,472
  69,145
  75,053
  81,199
  87,589
  94,231

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  624
  963
  1,441
  2,091
  2,949
  4,055
  5,443
  7,147
  9,196
  11,615
  14,424
  17,634
  21,255
  25,289
  29,736
  34,590
  39,845
  45,492
  51,522
  57,926
  64,695
  71,823
  79,305
  87,136
  95,315
  103,845
  112,727
  121,969
  131,578
  141,565
Adjusted assets (=assets-cash), $m
  624
  963
  1,441
  2,091
  2,949
  4,055
  5,443
  7,147
  9,196
  11,615
  14,424
  17,634
  21,255
  25,289
  29,736
  34,590
  39,845
  45,492
  51,522
  57,926
  64,695
  71,823
  79,305
  87,136
  95,315
  103,845
  112,727
  121,969
  131,578
  141,565
Revenue / Adjusted assets
  1.851
  1.853
  1.851
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
  1.852
Average production assets, $m
  1
  2
  3
  4
  5
  8
  10
  13
  17
  22
  27
  33
  39
  47
  55
  64
  74
  84
  95
  107
  120
  133
  147
  161
  177
  192
  209
  226
  244
  262
Working capital, $m
  -76
  -118
  -176
  -256
  -361
  -496
  -665
  -874
  -1,124
  -1,420
  -1,763
  -2,155
  -2,598
  -3,091
  -3,635
  -4,228
  -4,870
  -5,561
  -6,298
  -7,080
  -7,908
  -8,779
  -9,694
  -10,651
  -11,651
  -12,693
  -13,779
  -14,908
  -16,083
  -17,304
Total debt, $m
  1,452
  1,697
  2,041
  2,509
  3,128
  3,925
  4,926
  6,155
  7,632
  9,377
  11,401
  13,716
  16,327
  19,236
  22,441
  25,941
  29,730
  33,801
  38,149
  42,766
  47,647
  52,787
  58,181
  63,827
  69,724
  75,874
  82,278
  88,941
  95,870
  103,071
Total liabilities, $m
  450
  695
  1,039
  1,507
  2,127
  2,924
  3,924
  5,153
  6,630
  8,375
  10,399
  12,714
  15,325
  18,234
  21,440
  24,939
  28,728
  32,800
  37,147
  41,764
  46,645
  51,785
  57,179
  62,825
  68,722
  74,872
  81,276
  87,939
  94,868
  102,069
Total equity, $m
  174
  269
  402
  583
  823
  1,131
  1,519
  1,994
  2,566
  3,241
  4,024
  4,920
  5,930
  7,056
  8,296
  9,651
  11,117
  12,692
  14,375
  16,161
  18,050
  20,039
  22,126
  24,311
  26,593
  28,973
  31,451
  34,029
  36,710
  39,497
Total liabilities and equity, $m
  624
  964
  1,441
  2,090
  2,950
  4,055
  5,443
  7,147
  9,196
  11,616
  14,423
  17,634
  21,255
  25,290
  29,736
  34,590
  39,845
  45,492
  51,522
  57,925
  64,695
  71,824
  79,305
  87,136
  95,315
  103,845
  112,727
  121,968
  131,578
  141,566
Debt-to-equity ratio
  8.340
  6.310
  5.080
  4.300
  3.800
  3.470
  3.240
  3.090
  2.970
  2.890
  2.830
  2.790
  2.750
  2.730
  2.700
  2.690
  2.670
  2.660
  2.650
  2.650
  2.640
  2.630
  2.630
  2.630
  2.620
  2.620
  2.620
  2.610
  2.610
  2.610
Adjusted equity ratio
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  378
  607
  928
  1,364
  1,940
  2,681
  3,610
  4,750
  6,121
  7,738
  9,613
  11,756
  14,172
  16,862
  19,826
  23,060
  26,560
  30,321
  34,335
  38,598
  43,103
  47,845
  52,823
  58,032
  63,472
  69,145
  75,053
  81,199
  87,589
  94,231
Depreciation, amort., depletion, $m
  0
  0
  1
  1
  1
  2
  2
  3
  3
  4
  5
  7
  8
  9
  11
  13
  15
  17
  19
  21
  24
  27
  29
  32
  35
  38
  42
  45
  49
  52
Funds from operations, $m
  378
  607
  928
  1,365
  1,941
  2,682
  3,612
  4,753
  6,124
  7,742
  9,618
  11,763
  14,180
  16,871
  19,837
  23,073
  26,575
  30,338
  34,354
  38,619
  43,127
  47,872
  52,852
  58,064
  63,508
  69,184
  75,094
  81,244
  87,638
  94,283
Change in working capital, $m
  -29
  -42
  -58
  -79
  -105
  -135
  -170
  -208
  -250
  -296
  -343
  -392
  -443
  -493
  -543
  -593
  -642
  -690
  -737
  -783
  -827
  -871
  -914
  -957
  -1,000
  -1,043
  -1,086
  -1,130
  -1,175
  -1,221
Cash from operations, $m
  407
  649
  986
  1,444
  2,046
  2,817
  3,782
  4,961
  6,375
  8,038
  9,962
  12,155
  14,622
  17,365
  20,380
  23,666
  27,218
  31,028
  35,091
  39,402
  43,954
  48,743
  53,766
  59,021
  64,508
  70,226
  76,180
  82,374
  88,812
  95,504
Maintenance CAPEX, $m
  0
  0
  0
  -1
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -5
  -7
  -8
  -9
  -11
  -13
  -15
  -17
  -19
  -21
  -24
  -27
  -29
  -32
  -35
  -38
  -42
  -45
  -49
New CAPEX, $m
  0
  -1
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -4
  -5
  -6
  -7
  -7
  -8
  -9
  -10
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -16
  -17
  -18
  -18
Cash from investing activities, $m
  0
  -1
  -1
  -2
  -3
  -3
  -5
  -5
  -7
  -7
  -9
  -11
  -14
  -15
  -17
  -20
  -23
  -25
  -28
  -31
  -34
  -37
  -41
  -44
  -47
  -51
  -54
  -59
  -63
  -67
Free cash flow, $m
  407
  648
  985
  1,442
  2,044
  2,814
  3,778
  4,956
  6,368
  8,030
  9,952
  12,144
  14,609
  17,349
  20,363
  23,646
  27,195
  31,003
  35,063
  39,371
  43,920
  48,706
  53,726
  58,977
  64,460
  70,175
  76,125
  82,315
  88,749
  95,437
Issuance/(repayment) of debt, $m
  168
  245
  344
  468
  619
  797
  1,001
  1,229
  1,478
  1,744
  2,025
  2,315
  2,611
  2,909
  3,206
  3,500
  3,789
  4,071
  4,348
  4,617
  4,881
  5,139
  5,394
  5,646
  5,897
  6,150
  6,404
  6,663
  6,928
  7,201
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  168
  245
  344
  468
  619
  797
  1,001
  1,229
  1,478
  1,744
  2,025
  2,315
  2,611
  2,909
  3,206
  3,500
  3,789
  4,071
  4,348
  4,617
  4,881
  5,139
  5,394
  5,646
  5,897
  6,150
  6,404
  6,663
  6,928
  7,201
Total cash flow (excl. dividends), $m
  575
  893
  1,329
  1,911
  2,663
  3,611
  4,779
  6,185
  7,846
  9,774
  11,977
  14,459
  17,220
  20,258
  23,569
  27,146
  30,984
  35,074
  39,411
  43,988
  48,801
  53,846
  59,120
  64,624
  70,358
  76,325
  82,530
  88,978
  95,678
  102,638
Retained Cash Flow (-), $m
  -65
  -95
  -133
  -181
  -240
  -308
  -387
  -475
  -572
  -675
  -784
  -896
  -1,010
  -1,126
  -1,241
  -1,354
  -1,466
  -1,576
  -1,682
  -1,787
  -1,889
  -1,989
  -2,087
  -2,185
  -2,282
  -2,380
  -2,478
  -2,578
  -2,681
  -2,787
Prev. year cash balance distribution, $m
  1,333
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,843
  798
  1,196
  1,729
  2,423
  3,303
  4,391
  5,709
  7,274
  9,099
  11,193
  13,563
  16,210
  19,132
  22,328
  25,792
  29,518
  33,499
  37,729
  42,202
  46,912
  51,857
  57,033
  62,439
  68,076
  73,945
  80,051
  86,400
  92,997
  99,851
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,767
  731
  1,041
  1,424
  1,878
  2,397
  2,967
  3,569
  4,179
  4,770
  5,316
  5,788
  6,163
  6,423
  6,555
  6,554
  6,423
  6,169
  5,809
  5,363
  4,852
  4,303
  3,738
  3,180
  2,648
  2,157
  1,718
  1,337
  1,015
  752
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Qudian Inc. provides cash credit products, which provide funds in digital form, and merchandise credit products. The Company operates through an online platform and all the transaction are facilitated through mobile devices. Borrowers can apply for credit on their mobile phones and receive approval within a few seconds. Approved borrowers are then able to draw down on their cash credit with cash disbursed immediately into their Alipay accounts in digital form. It also offers merchandise credit products to finance borrowers’ direct purchase of merchandise offered on its marketplace on installment basis. Its marketplace connects consumers with merchandise suppliers. It offers 14 categories of merchandise from over 1,000 brands covering primarily consumer electronics, home appliances, watches and accessories, sports and outdoor merchandise and luggage.

FINANCIAL RATIOS  of  Qudian ADR (QD)

Valuation Ratios
P/E Ratio 18.2
Price to Sales 7.2
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 13.1
Price to Free Cash Flow 13.3
Growth Rates
Sales Growth Rate 514.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 2.7%
Total Debt to Equity 169.2%
Interest Coverage 5
Management Effectiveness
Return On Assets 14.9%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital 14.7%
Ret/ On T. Cap. - 3 Yr. Avg. -10.4%
Return On Equity 60.8%
Return On Equity - 3 Yr. Avg. 45.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 85.2%
Gross Margin - 3 Yr. Avg. 66.3%
EBITDA Margin 62.2%
EBITDA Margin - 3 Yr. Avg. -51.5%
Operating Margin 49.3%
Oper. Margin - 3 Yr. Avg. -82.6%
Pre-Tax Margin 48.8%
Pre-Tax Margin - 3 Yr. Avg. -83.7%
Net Profit Margin 39.7%
Net Profit Margin - 3 Yr. Avg. -86.8%
Effective Tax Rate 18.6%
Eff/ Tax Rate - 3 Yr. Avg. 6.2%
Payout Ratio 0%

QD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the QD stock intrinsic value calculation we used $721.790515719 million for the last fiscal year's total revenue generated by Qudian ADR. The default revenue input number comes from 0001 income statement of Qudian ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our QD stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for QD is calculated based on our internal credit rating of Qudian ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Qudian ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of QD stock the variable cost ratio is equal to 48.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $4 million in the base year in the intrinsic value calculation for QD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Qudian ADR.

Corporate tax rate of 27% is the nominal tax rate for Qudian ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the QD stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for QD are equal to 0.1%.

Life of production assets of 1.3 years is the average useful life of capital assets used in Qudian ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for QD is equal to -6.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1442.01432905 million for Qudian ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 90.229 million for Qudian ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Qudian ADR at the current share price and the inputted number of shares is $0.4 billion.

COMPANY NEWS

▶ Qudian Is Heading Lower; 'Mad Money' and the Charts Agree   [Nov-16-18 02:44PM  TheStreet.com]
▶ Why Qudian Inc. Stock Lost 23.2% in August   [Sep-11-18 07:49PM  Motley Fool]
▶ 3 Stocks I'd Hate to Buy   [Aug-28-18 08:11AM  Motley Fool]
▶ Why Qudian Inc. Stock Plunged Today   [Aug-24-18 03:43PM  Motley Fool]
▶ Qudian Inc. Provides Business Update   [06:20AM  PR Newswire]
▶ Should You Be Holding Qudian Inc (NYSE:QD)?   [Jun-19-18 05:41PM  Simply Wall St.]
▶ Who Owns Most Of Qudian Inc (NYSE:QD)?   [Jun-05-18 10:10AM  Simply Wall St.]
▶ Why Qudian Inc Stock Dropped 16.5% Today   [May-21-18 05:58PM  Motley Fool]
▶ Whats Installed For Qudian Inc (NYSE:QD)?   [Apr-24-18 06:42PM  Simply Wall St.]
▶ What Should You Know About Qudian Incs (NYSE:QD) Future?   [Apr-16-18 05:06PM  Simply Wall St.]
▶ Tech IPOs: How much longer can the good times last?   [Mar-28-18 10:54AM  Yahoo Finance Video]
▶ Hot Chinese IPO LexinFintech Falls Short On Q4 Earnings, Revenue   [Mar-20-18 04:27PM  Investor's Business Daily]

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