
Qfin: When Slow Growth Meets A 0.61 P/B And A 9% Dividend Yield (Rating Upgrade)
I upgrade Qfin Holdings from Hold to Buy, targeting a 61% upside on deep undervaluation and a robust 9%+ dividend yield. QFIN trades at 0.60x price/book versus a 1.59x all-time historical average and 1.19x the 5-year average. The sector median stands at 1.34x. Despite macro headwinds and flat loan facilitation, QFIN demonstrates resilience with steady user growth and disciplined cost management.















