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360 DigiTech announced its latest results, which look quite impressive as it sharply lowers costs through increasing automation.
The company's revenue rose a modest 13% during the quarter to 3.6 billion yuan. But its profit soared by a factor of seven to 1.3 billion yuan from 183 million yuan a year earlier.
In terms of valuation, 360 DigiTech’s shares now trade at a PE ratio that is really extremely low, reflecting the huge regulatory uncertainty the company faces.