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QFIN - 360 DigiTech Is Valued Like A Bank But Should Be Valued Like A Fintech Platform
360 Finance Inc.
While revenue growth came in a little soft, the company is still growing pretty fast and FY2021 outlook wasn't changed.
The company has plenty of growth tailwinds and initiatives to keep on growing. The company is insanely profitable, touting profit margins of almost 40%.
The shift towards a capital-light model improves margins, reduces capital needs and regulatory and credit risks and should confer the shares with higher valuation multiples.