Lufax disclosed previously hidden transactions totaling over 45 billion yuan in wealth management products and admitted to breaching Hong Kong listing rules, leading to restated profits for 2022-2023. The company reported an annual net loss in 2024 as its core lending business to small businesses shrank. With a new CEO taking over in April, Lufax faces the dual challenge of rebuilding investor confidence after the accounting scandal while navigating China's weak economic environment that is pressuring its business model.

Shares of American Eagle Outfitters, Inc. (NYSE: AEO) declined during Tuesday’s session after the company reported third-quarter financial results. Net revenue rose 5% Y/Y to $1.30 billion, beating the consensus of $1.28 billion. EPS of $0.49 surpassed the consensus of $0.48. For FY23, AEO revised guidance for revenue to be up mid-single digits Y/Y from growth in low single digits Y/Y earlier. American Eagle fell 16.4% to $16.52 on Tuesday. Here are some other stocks moving in today's mid-day session. Gainers Safe and Green Development Corporation (NASDAQ: SGD) shares gained 66% to $4.7119. Safe and Green Development unveiled a Letter of Intent for integration of real estate AI software. Mountain Crest Acquisition Corp. IV (NASDAQ: MCAF) shares jumped 52.4% to $9.92 after falling more than 12% on Monday. Anghami Inc. (NASDAQ: ANGH) shares jumped 36% to $2.1488. OSN Group announced up to $50 million cash investment in Anghami. TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) shares gained 27.9% to $0.2219. TRACON Pharmaceuticals recently announced license of product development platform for $3 million upfront payment. Marpai, Inc. (NASDAQ: MRAI) rose 24.2% to $1.1301. Marpai Form 4 filing showed Eitan Yaron bought 100,000 shares at an average price of $1.23 per share. Symbotic Inc. (NASDAQ: SYM) jumped 23.8% to $46.02 after the company reported better-than-expected fourth-quarter sales results. Burlington Stores, Inc. (NYSE: BURL) gained 19% to $162.77 after the company reported third-quarter financial results and issued guidance. Hibbett, Inc. (NASDAQ: HIBB) jumped 14.7% to $61.55 following strong quarterly sales. LQR House Inc. (NASDAQ: LQR) shares surged 14.5% to $0.0691. LQR House repurchased 1,476,355 shares in its ongoing share ...

Upgrades Craig-Hallum upgraded the previous rating for Vicor Corp (NASDAQ:VICR) from Hold to Buy. For the second quarter, Vicor had an EPS of $0.38, compared to year-ago quarter EPS of $0.24. The stock has a 52-week-high of $82.38 and a 52-week-low of $38.71. At the end of the last trading period, Vicor closed at $59.41. HSBC upgraded the previous rating for The Mosaic Co (NYSE:MOS) from Reduce to Hold. In the first quarter, Mosaic showed an EPS of $1.14, compared to $2.41 from the year-ago quarter. The stock has a 52-week-high of $63.16 and a 52-week-low of $31.44. At the end of the last trading period, Mosaic closed at $39.79. Deutsche Bank upgraded the previous rating for Spotify Technology SA (NYSE:SPOT) from Hold to Buy. In the second quarter, Spotify Technology showed an EPS of $1.69, compared to $0.91 from the year-ago quarter. The stock has a 52-week-high of $182.00 and a 52-week-low of $69.41. At the end of the last trading period, Spotify Technology closed at $140.38. According to Morgan Stanley, the prior rating for NetApp Inc (NASDAQ:NTAP) was changed from Underweight to Equal-Weight. In the fourth quarter, NetApp showed an EPS of $1.54, compared to $1.42 from the year-ago quarter. The stock has a 52-week-high of $80.53 and a 52-week-low of $58.08. At the end of the last trading period, NetApp closed at $79.06. For WW International Inc (NASDAQ:WW), Morgan Stanley upgraded the previous rating of Equal-Weight to Overweight. In the first quarter, WW International showed an EPS of $0.14, compared to $0.06 from the year-ago quarter. The stock has a 52-week-high of $10.02 and a 52-week-low of $3.28. At the end of the last trading period, WW International closed at $9.93. See all analyst ratings upgrades. Downgrades Kalinowski Research downgraded the previous rating for Cheesecake Factory Inc (NASDAQ:CAKE) from Buy to Neutral. For the first quarter, Cheesecake Factory had an EPS of $0.61, compared to year-ago quarter EPS of $0.47. The stock has a 52-week-high of $41.28 and a 52-week-low of $26.86. At the end of the last trading period, Cheesecake Factory closed at $36.59. Kalinowski Research downgraded the previous rating for The Wendy's Co (NASDAQ:WEN) from Buy to Neutral. Wendy's earned $0.21 in the first quarter, compared to $0.17 in the year-ago quarter. The stock has a 52-week-high of $23.90 and a 52-week-low of $18.50. At the end of the last trading period, Wendy's closed at $21.31. Raymond James downgraded the previous rating for Target Corp (NYSE:TGT) from Strong Buy to Market Perform. In the first quarter, Target showed an EPS of $2.05, compared to $2.19 from the year-ago quarter. The stock has a 52-week-high of $183.84 and a 52-week-low of $125.08. At the end of the last trading period, Target closed at $133.60. JP Morgan downgraded the previous rating for Tencent Music Entertainment Group (NYSE:TME) from Overweight to Neutral. In the first quarter, Tencent Music Enter Gr showed an EPS of $0.13, compared to $0.09 from the year-ago quarter. The stock has a 52-week-high of $9.29 and a 52-week-low of $3.15. At the end of the last trading period, Tencent Music Enter Gr closed at $6.61. For Enterprise Financial Services Corp (NASDAQ:EFSC), Raymond James downgraded the previous rating of Outperform to Market Perform. Enterprise Finl Servs earned $1.29 in the second quarter, compared to $1.19 in the year-ago quarter. The current stock performance of Enterprise Finl Servs shows a 52-week-high of $56.35 and a 52-week-low of $36.16. Moreover, at the end of the last trading period, the closing price was at $41.00. TD Cowen downgraded the previous rating for GATX Corp (NYSE:GATX) from Outperform to Market Perform. GATX earned $1.73 ...Full story available on Benzinga.com

The Chinese fintech announced a leadership change.

The Chinese fintech announced a management transition.

Gainers ThermoGenesis Holdings, Inc. (NASDAQ: THMO) shares jumped 80% to $3.7820 after the company announced the roll out of ReadyStart cGMP Suites for early-stage cell and gene-therapy companies. Loyalty Ventures Inc. (NASDAQ: LYLT) rose 80% to $0.3060 after dipping 23% on Tuesday. Jounce Therapeutics, Inc. (NASDAQ: JNCE) shares climbed 48% to $1.5686 after the company confirmed receipt of unsolicited proposal from Concentra Biosciences to acquire 100% of the company. Elevation Oncology, Inc. (NASDAQ: ELEV) rose 38.1% to $1.9750 after jumping around 29% on Tuesday. Ambipar Emergency Response (NYSE: AMBI) gained 37.8% to $16.88 after jumping around 117% on Tuesday. TC Biopharm (Holdings) Plc (NASDAQ: TCBP) climbed 20.6% to $3.6904. Pardes Biosciences, Inc. (NASDAQ: PRDS) jumped 19.6% to $1.5546 after posting a narrower-than-expected quarterly loss. Smartsheet Inc. (NYSE: SMAR) shares gained 15.3% to $44.18 after the company reported better-than-expected Q4 results and issued strong EPS guidance. Summit Healthcare Acquisition Corp. (NASDAQ: SMIH) jumped 14.7% to $12.20. Opendoor Technologies Inc. (NASDAQ: OPEN) rose 14.4% to $1.5785. Incannex Healthcare Limited (NASDAQ: IXHL) gained 14.2% to $2.65. Incannex Healthcare announced interim review of PsiGAD clinical trial data. NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) climbed 11.4% to $1.75 after gaining around 5% on Tuesday. SentinelOne, Inc. (NYSE: S) gained 10.8% to $16.03 after the company reported better-than-expected results. Western Alliance Bancorporation (NYSE: WAL) gained 8.6% to $32.43. Kingsoft Cloud Holdings Limited (NASDAQ: KC) rose 8.6% to $4.43. HUB Cyber Security (Israel) Ltd. (NASDAQ: HUBC) gained 8% to $1.8034 after gaining more than 10% on Tuesday. HUB Security received $4 million from PIPE Investors at ...

Upgrades Citigroup upgraded the previous rating for FinVolution Group (NYSE:FINV) from Neutral to Buy. FinVolution Gr earned $0.30 in the first quarter, compared to $0.31 in the year-ago quarter. The stock has a 52-week-high of $10.41 and a 52-week-low of $2.68. At the end of the last trading period, FinVolution Gr closed at $4.21. For Noble Corp (NYSE:NE), BTIG upgraded the previous rating of Neutral to Buy. At the moment, the stock has a 52-week-high of $37.77 and a 52-week-low of $20.34. Noble closed at $36.28 at the end of the last trading period. For Vertex Pharmaceuticals Inc (NASDAQ:VRTX), Maxim Group upgraded the previous rating of Hold to Buy. For the first quarter, Vertex Pharmaceuticals had an EPS of $3.52, compared to year-ago quarter EPS of $2.98. The stock has a 52-week-high of $292.75 and a 52-week-low of $176.36. At the end of the last trading period, Vertex Pharmaceuticals closed at $268.65. For Visteon Corp (NASDAQ:VC), Morgan Stanley upgraded the previous rating of Underweight to Equal-Weight. Visteon earned $1.09 in the first quarter, compared to $0.56 in the year-ago quarter. At the moment, the stock has a 52-week-high of $134.57 and a 52-week-low of $88.82. Visteon closed at $112.21 at the end of the last trading period. For Home Bancorp Inc (NASDAQ:HBCP), DA Davidson upgraded the previous rating of Neutral to Buy. Home Bancorp earned $0.53 in the first quarter, compared to $1.41 in the year-ago quarter. At the moment, the stock has a 52-week-high of $45.73 and a 52-week-low of $33.16. Home Bancorp closed at $34.39 at the end of the last trading period. For Park Hotels & Resorts Inc (NYSE:PK), Truist Securities upgraded the previous rating of Hold to Buy. Park Hotels & Resorts earned $0.08 in the first quarter, compared to $0.48 in the year-ago quarter. At the moment, the stock has a 52-week-high of $22.42 and a 52-week-low of $15.57. Park Hotels & Resorts closed at $18.06 at the end of the last trading period. Cowen & Co. upgraded the previous rating for Xylem Inc (NYSE:XYL) from Underperform to Market Perform. In the first quarter, Xylem showed an EPS of $0.47, compared to $0.56 from the year-ago quarter. At the moment, the stock has a 52-week-high of $138.78 and a 52-week-low of $78.92. Xylem closed at $84.25 at the end of the last trading period. For Blueprint Medicines Corp (NASDAQ:BPMC), Jefferies upgraded the previous rating of Hold to Buy. In the first quarter, Blueprint Medicines showed an EPS of $1.79, compared to $1.72 from the year-ago quarter. At the moment, the stock has a 52-week-high of $117.86 and a 52-week-low of $50.95. Blueprint Medicines closed at $55.00 at the end of the last trading period. RBC Capital upgraded the previous rating for Danaher Corp (NYSE:DHR) from Sector Perform to Outperform. Danaher earned $2.76 in the first quarter, compared to $2.52 in the year-ago quarter. The current stock performance of Danaher shows a 52-week-high of $333.96 and a 52-week-low of $233.71. Moreover, at the end of the last trading period, the closing price was at $263.82. For Enanta Pharmaceuticals Inc (NASDAQ:ENTA), Evercore ISI Group upgraded the previous rating of Underperform to In-Line. In the second quarter, Enanta Pharmaceuticals showed an EPS of $1.63, compared to $1.09 from the year-ago quarter. At the moment, the stock has a 52-week-high of $102.00 and a 52-week-low of $37.59. Enanta Pharmaceuticals closed at $39.93 at the end of the last trading period. For CatchMark Timber Trust Inc (NYSE:CTT), Raymond James upgraded the previous rating of Underperform to Market Perform. CatchMark Timber Trust earned $0.07 in the first quarter, compared to $0.01 in the year-ago quarter. The stock has a 52-week-high of $12.57 and a 52-week-low of $7.18. At the end of the last trading period, CatchMark Timber Trust closed at $11.79. See all analyst ratings upgrades. Downgrades Redburn Partners downgraded the previous rating for Valero Energy Corp (NYSE:VLO) from Buy to Neutral. In the first quarter, Valero Energy showed an EPS of $2.31, compared to $1.73 from the year-ago quarter. The stock has a 52-week-high of $135.75 and a 52-week-low of $58.85. At the end of the last trading period, Valero Energy closed at $129.60. According to UBS, the prior rating for Angel Oak Mortgage Inc (NYSE:AOMR) was changed from Buy to Neutral. Angel Oak Mortgage earned $1.49 in the first quarter, compared ...Full story available on Benzinga.com

Upgrades For Coupang Inc (NYSE:CPNG), JP Morgan upgraded the previous rating of Neutral to Overweight. The stock has a 52-week-high of $46.00 and a 52-week-low of $11.91. At the end of the last trading period, Coupang closed at $11.99. According to Guggenheim, the prior rating for NextGen Healthcare Inc (NASDAQ:NXGN) was changed from Neutral to Buy. In the third quarter, NextGen Healthcare showed an EPS of $0.24, compared to $0.26 from the year-ago quarter. The stock has a 52-week-high of $21.87 and a 52-week-low of $13.64. At the end of the last trading period, NextGen Healthcare closed at $19.52. According to CLSA, the prior rating for Melco Resorts and Entertainment Ltd (NASDAQ:MLCO) was changed from Outperform to Buy. For the first quarter, Melco Resorts and Enter had an EPS of $0.37, compared to year-ago quarter EPS of $0.44. The stock has a 52-week-high of $19.18 and a 52-week-low of $5.12. At the end of the last trading period, Melco Resorts and Enter closed at $5.19. Raymond James upgraded the previous rating for Jounce Therapeutics Inc (NASDAQ:JNCE) from Outperform to Strong Buy. Jounce Therapeutics earned $0.72 in the first quarter, compared to $0.58 in the year-ago quarter. The current stock performance of Jounce Therapeutics shows a 52-week-high of $9.81 and a 52-week-low of $4.79. Moreover, at the end of the last trading period, the closing price was at $4.86. B of A Securities upgraded the previous rating for EPAM Systems Inc (NYSE:EPAM) from Neutral to Buy. For the first quarter, EPAM Sys had an EPS of $2.49, compared to year-ago quarter EPS of $1.81. At the moment, the stock has a 52-week-high of $725.40 and a 52-week-low of $168.59. EPAM Sys closed at $346.00 at the end of the last trading period. DZ Bank upgraded the previous rating for Stellantis NV (NYSE:STLA) from Hold to Buy. NoneAt the moment, the stock has a 52-week-high of $21.99 and a 52-week-low of $13.06. Stellantis closed at $13.42 at the end of the last trading period. For Hersha Hospitality Trust (NYSE:HT), Stifel upgraded the previous rating of Hold to Buy. In the first quarter, Hersha Hospitality showed an EPS of $0.06, compared to $0.36 from the year-ago quarter. At the moment, the stock has a 52-week-high of $12.42 and a 52-week-low of $7.92. Hersha Hospitality closed at $9.96 at the end of the last trading period. For Pactiv Evergreen Inc (NASDAQ:PTVE), RBC Capital upgraded the previous rating of Sector Perform to Outperform. Pactiv Evergreen earned $0.24 in the first quarter, compared to $0.01 in the year-ago quarter. At the moment, the stock has a 52-week-high of $16.49 and a 52-week-low of $8.71. Pactiv Evergreen closed at $10.23 at the end of the last trading period. For TPI Composites Inc (NASDAQ:TPIC), Roth Capital upgraded the previous rating of Neutral to Buy. For the first quarter, TPI Composites had an EPS of $0.71, compared to year-ago quarter EPS of $0.05. The current stock performance of TPI Composites shows a 52-week-high of $52.18 and a 52-week-low of $9.23. Moreover, at the end of the last trading period, the closing price was at $12.36. Piper Sandler upgraded the previous rating for Boot Barn Holdings Inc (NYSE:BOOT) from Neutral to Overweight. Boot Barn Holdings earned $2.23 in the third quarter, compared to $0.99 in the year-ago quarter. The current stock performance of Boot Barn Holdings shows a 52-week-high of $134.50 and a 52-week-low of $66.58. Moreover, at the end of the last trading period, the closing price was at $95.77. See all analyst ratings upgrades. Downgrades According to Needham, the prior rating ...Full story available on Benzinga.com

Key Takeaways: •      FinVolution, which has transformed into a loan facilitator from a direct lender, reported a 32% rise in fourth quarter revenue despite regulatory headwinds for fintech lenders •      Lexin, which is also switching to a facilitator model but still continues to lend directly, posted a 27% decline in quarterly revenue, as it sacrificed growth for better risk management •      Fourth-quarter revenue at Qudian, which remains a direct lender, plunged nearly 90%    By Warren Yang Online lending can be a lucrative business with abundant opportunities in China. It’s the world’s second-largest economy after all, with no shortage of consumers and businesses looking to borrow. The million-dollar question is how best to capitalize on the vast demand for credit in the country: By lending out of your own pocket, or by being a middleman for other lenders? While direct lending offers companies the chance to collect interest and cut out middleman fees, it comes with heavier regulation and also higher risks from potential defaults. The facilitator role carries lower regulatory and default risks, but relies on less lucrative fees as its main income source. At least for now, the answer to which model is better seems loan facilitation, as the latest financial results from FinVolution Group (NYSE: FINV), LexinFintech Holdings Ltd. (NASDAQ: LX) and Qudian Inc. (NYSE: QD) show. All three were direct lenders until few years ago. But then a harsh regulatory crackdown prompted them and their peers to rethink their futures. FinVolution is now entirely an online middleman between borrowers and banks. Qudian has stayed with direct lending. Lexin is somewhere in between, switching to a loan facilitator model while also continuing with some of its own direct lending.  A look at the trio’s latest results released last week shows their fortunes are diverging, based on their business models. At FinVolution, net revenue increased 32% to 2.5 billion yuan ($384 million) year-on-year in last year’s fourth quarter as total transaction volume grew more than 80%, according to its latest results released last Monday. Net revenue for all 2021 increased ...

FinVolution’s user base increased sharply in the third quarter, leading to 41% revenue growth. The company posted only a small net profit gain because of swelling costs.

Market sentiment seems to suggest that investors are once again feeling bullish on Chinese stocks that trade on U.S. stock exchanges.

I've compared 360 Digitech's financials with its four most important peers. Based on the company’s growth, balance sheet, and PE Ratio, QFIN looks like a great buy.