Exhibit 99.1

360 DigiTech Announces Third Quarter 2021 Unaudited Financial Results and Declares Quarterly Dividend

SHANGHAI, China, Nov. 15, 2021, 360 DigiTech, Inc. (QFIN) (“360 DigiTech” or the “Company”), a leading financial technology platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2021.

Third Quarter 2021 Business Highlights

• As of September 30, 2021, our digital platform has connected 115 financial institutional partners and 181.8 million consumers^*1 with potential credit needs, cumulatively, an increase of 16.5% from 156.0 million a year ago.

• Cumulative users with approved credit lines^*2 was 36.5 million as of September 30, 2021, an increase of 24.6% from 29.3 million as of September 30, 2020.

• Cumulative borrowers with successful drawdown, including repeat borrowers was 23.3 million as of September 30, 2021, an increase of 24.6% from 18.7 million as of September 30, 2020.

• In the third quarter of 2021, financial institutional partners originated 26,680,676 loans^*3, totaling RMB97,592 million^*4 through our platform, an increase of 47.9% from RMB66,000 million in the same period of 2020.

• Out of those loans originated by financial institutions, RMB55,476 million was under capital-light model and other technology solutions, representing 56.8% of the total, an increase of 205.0% from RMB18,189 million in the same period of 2020.

• Total outstanding balance^*5 of the loans originated by financial institutional partners through our platform was RMB133,425 million as of September 30, 2021, an increase of 58.4% from RMB84,214 million as of September 30, 2020.

• RMB72,435 million of such loan balance was under capital-light model and other technology solutions, an increase of 213.6% from RMB23,095 million as of September 30, 2020.

• Financial institutions granted approximately RMB8.0 billion credit lines to small and micro-sized enterprises owners (SME Owners)^*6 through our platform in the third quarter of 2021, an increase of 12.7% from approximately RMB7.1 billion in the prior quarter.

• The weighted average contractual tenor of loans originated by financial institutions across our platform in the third quarter of 2021 was approximately 11.21 months, compared with 9.72 months in the same period of 2020.

• 90 day+ delinquency ratio^*7 of loans originated by financial institutions across our platform was 1.17% as of September 30, 2021.

• Repeat borrower contribution^*8 of loans originated by financial institutions across our platform for the third quarter of 2021 was 89.2%.

1 Refers to cumulative registered users across our platform.

2 “Users with approved credit lines” refers to the total number of users who had submitted their credit applications and were approved with a credit line by the Company at the end of each period.

3 Including 11,726,713 loans across “V-pocket”, and 14,953,953 loans across other products.

4 Refers to the total principal amount of loans facilitated and originated during the given period, including loans volume facilitated through Intelligence Credit Engine (“ICE”) and other technology solutions. “ICE” is an open platform on our “360 Jietiao” APP, we match borrowers and financial institutions through big data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitated through “ICE”, the Company do not provide post-loan risk management nor bear principal risk.

5 “Total outstanding loan balance” refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, including loan balance for “ICE” and other technology solutions, excluding loans delinquent for more than 180 days.

6 SME loans are Loans issued to SME Owners with e-commerce operations, with business sales receipt, and/or with business taxation record.

7 “90 day+ delinquency ratio” refers to the outstanding principal balance of on- and off-balance sheet loans that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and other technology solutions are not included in the delinquency rate calculation.

8 “Repeat borrower contribution” for a given period refers to (i) the principal amount of loans borrowed during that period by borrowers who had historically made at least one successful drawdown, divided by (ii) the total loan facilitation and origination volume through our platform during that period.

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Third Quarter 2021 Financial Highlights

• Total net revenue increased by 24.6% to RMB4,612.8 million (US$715.9 million) from RMB3,703.5 million in the same period of 2020.

• Income from operations increased by 38.1% to RMB1,893.7 million (US$293.9 million) from RMB1,371.4 million in the same period of 2020.

• Non-GAAP^*9 income from operations increased by 37.5% to RMB1,963.3 million (US$304.7 million) from RMB1,427.8 million in the same period of 2020.

• Operating margin was 41.1%. Non-GAAP operating margin was 42.6%.

• Net income increased by 27.0% to RMB1,564.1 million (US$242.7 million) from RMB1,231.7 million in the same period of 2020.

• Non-GAAP net income increased by 26.8% to RMB1,633.6 million (US$253.5 million) from RMB1,288.1 million in the same period of 2020.

• Net income margin was 33.9%. Non-GAAP net income margin was 35.4%.

9 Non-GAAP income from operations (Adjusted Income from operations), Non-GAAP net income (Adjusted net income), Non-GAAP operating margin and Non-GAAP net income margin are non-GAAP financial measures. For more information on this non-GAAP financial measure, please see the section of “Use of Non-GAAP Financial Measures Statement” and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.

Mr. Haisheng Wu, Chief Executive Officer and Director of 360 DigiTech, commented, “We are very pleased to report another robust quarter, which is the sixth consecutive quarter with record breaking operational and financial metrics. The consistent track record further demonstrated management’s solid overall execution and the resilience of the Company’s business model. During the quarter, financial institutions originated RMB97.6 billion loans through our platform, up approximately 48% year-on-year. Approximately 57% of the loans was facilitated under the capital-light model and other technology solutions*10, marking consistent progress toward our long-term technology driven strategic transition and upgrading.

Our embedded finance model continued to gain traction among our business partners, contributing approximately 47% of new users with approved credit lines for the quarter. On the SME front, we continued to ramp the operations with 13% volume growth and 32% balance growth quarter-on-quarter in a muted macro environment. We further optimized our customer acquisition systems to better target higher quality potential borrowers.

On the regulatory front, as one of the top Internet platforms, we have maintained close and frequent communications with regulators in recent months to implement necessary adjustment to our operations according to regulatory requirement. We will continue our efforts to sustain high standard compliance with laws and regulations and we are encouraged to see additional policy clarity in recent months.

As a leading online fintech company, we constantly optimize our operations and streamline our workflows to minimize carbon footprint and environmental impact. Meanwhile we take our social responsibility proactively by offering products and incentives to support SMEs and rural development. In addition, the World Economic Forum recently awarded us New Champions Community Awards of Excellence in Agile Business Governance 2021. We are especially honored to be the only company in Asia to receive the award this year. This speaks to our continued commitment to excellent corporate governance.”

“We are very glad to report another quarter of record financial results. Total revenue was RMB4.61 billion and non-GAAP net income reached RMB1.63 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “We continued to see strong demand for consumer credit and overall asset quality remained stable. During the quarter we generated over RMB1.78 billion cash from operations, which further strengthened our financial position that not only enables us to support our growth and innovations, but also allows us to improve returns to our shareholders through a quarterly dividend policy.”

Mr. Yan Zheng, Chief Risk Officer, added, “Our key risk management metrics remained near the best level in history during the quarter and the overall asset quality was stable. Among the key leading indicators, Day-1 delinquency*11 was 5.1%, near the record low of approximately 5.0%, while the 30-day collection rate*12 staying near 90%. We will continue to take prudent approach in overall risk management operations especially in light of the macro uncertainties. But we are confident that, with effective risk management systems, we are able to achieve a healthy balance between the asset quality and business growth in the foreseeable future.”

10 "We've used mainly data technology tools and AI risk management systems in the process of providing such services as loan facilitation, post-facilitation and borrowers' referral to our customers. Revenue from these technology powered services amount to 56% of our total net revenue. "

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11 "D1 delinquency rate" is defined as (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that was due for repayment as of such date.

12 "M1 collection rate" is defined as (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as a specified date, divided by (ii) the total amount of principal that became overdue as a specified date.

Third Quarter 2021 Financial Results

Total net revenue was RMB4,612.8 million (US$715.9 million), compared to RMB3,703.5 million in the same period of 2020, and RMB4,001.6 million in the prior quarter.

Net revenue from Credit Driven Services was RMB2,620.0 million (US$406.6 million), compared to RMB2,955.4 million in the same period of 2020, and RMB2,404.7 million in the prior quarter.

Loan facilitation and servicing fees-capital heavy were RMB581.1 million (US$90.2 million), compared to RMB1,220.7 million in the same period of 2020 and RMB540.7 million in the prior quarter. The year-over-year decline was primarily due to declined loan volume under capital heavy model. The sequential increase was in part due to increased loan volume under capital heavy model.

Financing income^*13 was RMB570.5 million (US$88.5 million), compared to RMB530.8 million in the same period of 2020 and RMB488.1 million in the prior quarter. The year-over-year and sequential increases were primarily due to growth in on-balance-sheet loans.

Revenue from releasing of guarantee liabilities was RMB1,440.7 million (US$223.6 million), compared to RMB1,172.6 million in the same period of 2020, and RMB1,352.3 million in the prior quarter. The year-over-year and sequential growth mainly reflected trends in average outstanding balance of off-balance-sheet capital-heavy loans during the period.

Other services fees were RMB27.6 million (US$4.3 million), compared to RMB31.2 million in the same period of 2020, and RMB23.6 million in the prior quarter. The year-over-year and sequential changes were mainly due to changes of late payment fees.

Net revenue from Platform Services was RMB1,992.8 million (US$309.3 million), compared to RMB748.1 million in the same period of 2020 and RMB1,596.9 million in the prior quarter.

Loan facilitation and servicing fees-capital light were RMB1,800.1 million (US$279.4 million), compared to RMB663.4 million in the same period of 2020 and RMB1,398.7 million in the prior quarter. The year-over-year and sequential growth was primarily due to growth in loan facilitation volume under capital-light model.

Referral services fees were RMB156.3 million (US$24.3 million), compared to RMB68.1 million in the same period of 2020 and RMB160.3 million in the prior quarter. The year-over-year increase was primarily due to the facilitation volume growth through ICE. The sequential decline was mainly due to decline in traditional traffic referral, and partially offset by increase in ICE related fees.

Other services fees were RMB36.5 million (US$5.7 million), compared to RMB16.7 million in the same period of 2020 and RMB37.9 million in the prior quarter. The year-over-year and sequential changes reflected changes of late payment fees under capital-light model.

Total operating costs and expenses were RMB2,719.1 million (US$422.0 million), compared to RMB2,332.1 million in the same period of 2020 and RMB2,148.4 million in the prior quarter.

Facilitation, origination and servicing expenses were RMB627.2 million (US$97.3 million), compared to RMB408.7 million in the same period of 2020 and RMB558.0 million in the prior quarter. The year-over-year and sequential increases was primarily due to growth in loan facilitation and origination volume.

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Funding costs were RMB83.8 million (US$13.0 million), compared to RMB144.6 million in the same period of 2020 and RMB83.2 million in the prior quarter. The year-over-year decline was mainly due to increased funding contribution from self-funded ABS despite increases in on-balance sheet loans.

Sales and marketing expenses were RMB577.3 million (US$89.6 million), compared to RMB271.1 million in the same period of 2020 and RMB499.9 million in the prior quarter. The year-over-year and sequential increases were mainly due to a more proactive customer acquisition strategy, particularly related to acquiring large ticket-size customers.

General and administrative expenses were RMB173.0 million (US$26.9 million), compared to RMB102.4 million in the same period of 2020 and RMB139.3 million in the prior quarter. The year-over-year and sequential increases were primarily due to increases in professional service fees.

Provision for loans receivable was RMB360.4 million (US$55.9 million), compared to RMB67.4 million in the same period of 2020 and RMB247.0 million in the prior quarter. The year-over-year and sequential increases mainly reflect the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

Provision for financial assets receivable was RMB70.1 million (US$10.9 million), compared to RMB81.6 million in the same period of 2020 and RMB58.5 million in the prior quarter.

Provision for accounts receivable and contract assets was RMB129.1 million (US$20.0 million), compared to RMB66.2 million in the same period of 2020 and RMB100.7 million in the prior quarter. The year-over-year and sequential increases in the above provisions combined was primarily due to increases in facilitation and origination volume, and also reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

Provision for contingent liability was RMB698.3 million (US$108.4 million), compared to RMB1,190.2 million in the same period of 2020 and RMB461.9 million in the prior quarter. The year-over-year decline was mainly due to loans facilitated in prior quarters performed better than expected. The sequential increase primarily reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

Income from operations was RMB1,893.7 million (US$293.9 million), compared to RMB1,371.4 million in the same period of 2020 and RMB1,853.1 million in the prior quarter.

Non-GAAP income from operations was RMB1,963.3 million (US$304.7 million), compared to RMB1,427.8 million in the same period of 2020 and RMB1,920.4 million in the prior quarter.

Operating margin was 41.1%. Non-GAAP operating margin was 42.6%.

Income before income tax expense was RMB1,922.7 million (US$298.4 million), compared to RMB1,459.0 million in the same period of 2020 and RMB1,953.2 million in the prior quarter.

Net income attributed to the Company was RMB1,564.1 million (US$242.7 million), compared to RMB1,231.9 million in the same period of 2020 and RMB1,547.6 million in the prior quarter.

Non-GAAP net income attributed to the Company was RMB1,633.6 million (US$253.5 million), compared to RMB1,288.3 million in the same period of 2020 and RMB1,614.9 million in the prior quarter.

Net income margin was 33.9%. Non-GAAP net income margin was 35.4%.

Net income per fully diluted ADS was RMB9.74 (US$1.52).

Non-GAAP net income per fully diluted ADS was RMB10.17 (US$1.58).

Weighted average basic ADS used in calculating GAAP and non-GAAP net income per ADS was 154.06 million.

Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 160.68 million.

13 “Financing income” is generated from loans facilitated through the Company’s platform funded by the consolidated trusts and Fuzhou Microcredit, which charge fees and interests from borrowers.

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M1+ Delinquency Rate by Vintage and M6+ Delinquency Rate by Vintage

The following charts and tables display the historical cumulative M1+ delinquency rates by loan facilitation and origination vintage and M6+ delinquency rates by loan facilitation and origination vintage for all loans facilitated and originated through the company’s platform, loans that are charged-off and loans under “ICE” and other technology solutions are not included in the M1+ charts, loans under “ICE” and other technology solutions are not included in the M6+ charts:

http://ml.globenewswire.com/Resource/Download/65794103-4574-4366-a571-9012bd625340

http://ml.globenewswire.com/Resource/Download/7c33dc8b-b6d3-4771-8b31-254668eca3df

Quarterly Dividend Policy

On November 15, 2021, the board of directors of the Company approved a quarterly cash dividend policy. Under the policy, the Company will declare and distribute a recurring cash dividend every fiscal quarter, starting from the third fiscal quarter of 2021, at an amount equivalent to approximately 15% to 20% of the Company’s net income after tax for such quarter. The determination to make dividend distributions and the exact amount of such distributions in any particular quarter will be based upon the Company’s operations and financial conditions, and other relevant factors, and subject to adjustment and determination by the board of directors.

Quarterly Dividend

The board of directors of the Company has approved a dividend of US$0.14 per ordinary share, or US$0.28 per ADS, for the third fiscal quarter of 2021 in accordance with the Company’s dividend policy, which is expected to be paid on January 18, 2022 to shareholders of record as of the close of business on December 15, 2021.

Business Outlook

The Company currently expects total loan facilitation and origination volume for the fourth quarter of 2021 to be between RMB90 billion and RMB100 billion, which makes total loan facilitation and origination volume for 2021 to be between RMB350 billion and RMB360 billion, compared to previous guidance of between RMB340 billion and RMB350 billion for 2021, representing year-on-year growth of 42% to 46%. This forecast reflects the Company’s current and preliminary views, which is subject to material change.

Conference Call

360 DigiTech’s management team will host an earnings conference call at 7:00 PM U.S. Eastern Time on Monday, November 15, 2021 (8:00 AM Beijing Time on November 16).

United States:	+1-646-722-4977
Hong Kong:	+852-3027-6500
Mainland China:	400-821-0637
International:	+65-6408-5782
PIN:	46934276 #

Please dial in 15 minutes before the call is scheduled to begin and provide the PIN to join the call.

A telephone replay of the call will be available after the conclusion of the conference call until November 22, 2021:

United States:	+1-646-982-0473
International:	+65-6408-5781
Access code:	520000187 #

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company's website at ir.360shuke.com.

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About 360 DigiTech

360 DigiTech, Inc. (NASDAQ: QFIN) (“360 DigiTech” or the “Company”) is a leading financial technology platform. Through its platform the Company enables financial institutions to provide better and targeted products and services to a broader consumer base. The Company also offers standardized risk management service, in the form of SaaS modules to institutional clients. When coupled with its partnership with 360 Group, the Company’s solutions created noticeable advantages in customer acquisition, funding optimization, risk assessment and post-lending management.

For more information, please visit: ir.360shuke.com

Use of Non-GAAP Financial Measures Statement

To supplement our financial results presented in accordance with U.S. GAAP, we use non-GAAP financial measure, which is adjusted from results based on U.S. GAAP to exclude share-based compensation expenses. Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are set forth in tables at the end of this earnings release, which provide more details on the non-GAAP financial measures.

We use non-GAAP income from operation, non-GAAP operation margin, non-GAAP net income, non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS in evaluating our operating results and for financial and operational decision-making purposes. Non-GAAP income from operation represents income from operation excluding share-based compensation expenses, non-GAAP net income represents net income excluding share-based compensation expenses, non-GAAP net income attributed to the Company represents net income attributed to the Company excluding share-based compensation expenses and non-GAAP net income per fully diluted ADS represents net income per fully diluted ADS excluding share-based compensation. Such adjustments have no impact on income tax. We believe that non-GAAP income from operation and non-GAAP net income help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in results based on U.S. GAAP. We believe that non-GAAP income from operation and non-GAAP net income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Our non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.4434 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2021.

Safe Harbor Statement

Any forward-looking statements contained in this announcement are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. 360 DigiTech may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, the Company’s cooperation with 360 Group, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in 360 DigiTech's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and 360 DigiTech does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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For more information, please contact:

360 DigiTech

E-mail: ir@360shuke.com

Christensen

In China

Mr. Eric Yuan

Phone: +86-138-0111-0739

E-mail: Eyuan@christensenir.com

In US

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@christensenir.com

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Unaudited Condensed Consolidated Balance Sheets

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)

except for number of shares and per share data, or otherwise noted)

	December 31,			September 30,			September 30,
	2020			2021			2021
	RMB			RMB			USD
ASSETS
Current assets:
Cash and cash equivalents		4,418,416			4,224,320			655,604
Restricted cash		2,355,850			2,413,510			374,571
Security deposit prepaid to third-party guarantee companies		915,144			935,441			145,178
Funds receivable from third party payment service providers		131,464			207,867			32,260
Accounts receivable and contract assets, net		2,394,528			2,084,544			323,516
Financial assets receivable, net		3,565,482			4,277,470			663,853
Amounts due from related parties		193,305			1,205,662			187,116
Loans receivable, net		7,500,629			9,924,346			1,540,234
Prepaid expenses and other assets		401,224			319,565			49,596
Total current assets		21,876,042			25,592,725			3,971,928
Non-current assets:
Accounts receivable and contract assets, net-non current		307,937			434,744			67,471
Financial assets receivable, net-non current		645,326			630,026			97,779
Amounts due from related parties		-			419,092			65,042
Loans receivable, net-non current		87,685			2,593,201			402,458
Property and equipment, net		19,360			20,374			3,162
Intangible assets		3,403			4,020			624
Deferred tax assets		1,398,562			1,159,367			179,931
Other non-current assets		48,990			31,494			4,888
Total non-current assets		2,511,263			5,292,318			821,355
TOTAL ASSETS		24,387,305			30,885,043			4,793,283
LIABILITIES AND EQUITY
Current liabilities:
Payable to investors of the consolidated trusts-current		3,117,634			2,443,789			379,270
Accrued expenses and other current liabilities		809,761			1,509,554			234,279
Amounts due to related parties		71,562			122,028			18,938
Short term loans		186,800			335,892			52,130
Guarantee liabilities-stand ready		4,173,497			4,656,051			722,608
Guarantee liabilities-contingent		3,543,454			3,142,158			487,655
Income tax payable		1,227,314			991,645			153,901
Other tax payable		254,486			293,501			45,551
Total current liabilities		13,384,508			13,494,618			2,094,332
Non-current liabilities:
Deferred tax liabilities		37,843			108,269			16,803
Payable to investors of the consolidated trusts-noncurrent		1,468,890			3,155,386			489,708
Other long-term liabilities		14,974			9,945			1,543
Total non-current liabilities		1,521,707			3,273,600			508,054
TOTAL LIABILITIES		14,906,215			16,768,218			2,602,386
Ordinary shares		21			21			3
Additional paid-in capital		5,417,406			5,614,716			871,390
Retained earnings		4,137,542			8,596,706			1,334,188
Other comprehensive income (loss)		(74,391	)		(94,618	)		(14,684	)
TOTAL 360 DIGITECH INC EQUITY		9,480,578			14,116,825			2,190,897
Noncontroling interests		512			0			0
TOTAL EQUITY		9,481,090			14,116,825			2,190,897
TOTAL LIABILITIES AND EQUITY		24,387,305			30,885,043			4,793,283

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Unaudited Condensed Consolidated Statements of Operations

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)

except for number of shares and per share data, or otherwise noted)

	Three months ended September 30,									Nine months ended September 30,
	2020			2021			2021			2020			2021			2021
	RMB			RMB			USD			RMB			RMB			USD
Credit driven services		2,955,392			2,619,968			406,613			8,846,546			7,476,006			1,160,259
Loan facilitation and servicing fees-capital heavy		1,220,748			581,055			90,178			3,741,738			1,846,102			286,511
Financing income		530,766			570,547			88,548			1,768,279			1,468,075			227,842
Revenue from releasing of guarantee liabilities		1,172,640			1,440,719			223,596			3,255,371			4,088,453			634,518
Other services fees		31,238			27,647			4,291			81,158			73,376			11,388
Platform services		748,129			1,992,845			309,285			1,379,922			4,737,574			735,260
Loan facilitation and servicing fees-capital light		663,354			1,800,071			279,367			1,145,564			4,192,673			650,693
Referral services fees		68,086			156,295			24,257			187,149			442,889			68,735
Other services fees		16,689			36,479			5,661			47,209			102,012			15,832
Total net revenue		3,703,521			4,612,813			715,898			10,226,468			12,213,580			1,895,519
Facilitation, origination and servicing		408,693			627,192			97,339			1,156,112			1,662,927			258,082
Funding costs		144,596			83,753			12,998			464,272			245,995			38,178
Sales and marketing		271,082			577,264			89,590			763,144			1,462,210			226,931
General and administrative		102,387			173,003			26,850			320,606			416,777			64,683
Provision for loans receivable		67,383			360,399			55,933			593,211			742,286			115,201
Provision for financial assets receivable		81,642			70,085			10,877			254,565			173,661			26,952
Provision for accounts receivable and contract assets		66,163			129,086			20,034			213,950			286,202			44,418
Provision for contingent liabilities		1,190,176			698,313			108,376			3,911,793			1,918,899			297,808
Total operating costs and expenses		2,332,122			2,719,095			421,997			7,677,653			6,908,957			1,072,253
Income from operations		1,371,399			1,893,718			293,901			2,548,815			5,304,623			823,266
Interest income, net		19,623			26,915			4,177			44,601			109,790			17,039
Foreign exchange gain		63,408			4,002			621			39,521			17,897			2,778
Investment gain					10,115			1,570						10,115			1,570
Other income(expenses), net		4,609			(12,074	)		(1,874	)		96,899			38,737			6,012
Income before income tax expense		1,459,039			1,922,676			298,395			2,729,836			5,481,162			850,665
Income taxes expense		(227,315	)		(358,599	)		(55,654	)		(438,492	)		(1,021,956	)		(158,605	)
Net income		1,231,724			1,564,077			242,741			2,291,344			4,459,206			692,060
Net loss(income) attributable to noncontrolling interests		151			-			-			453			(42	)		(7	)
Net income attributable to ordinary shareholders of the Company		1,231,875			1,564,077			242,741			2,291,797			4,459,164			692,053
Net income per ordinary share attributable to ordinary shareholders of 360 DigiTech, Inc.
Basic		4.10			5.08			0.79			7.73			14.54			2.26
Diluted		3.99			4.87			0.76			7.50			13.89			2.16
Net income per ADS attributable to ordinary shareholders of 360 DigiTech, Inc.
Basic		8.20			10.16			1.58			15.46			29.08			4.52
Diluted		7.98			9.74			1.52			15.00			27.78			4.32
Weighted average shares used in calculating net income per ordinary share
Basic		300,174,655			308,110,677			308,110,677			296,518,120			306,641,972			306,641,972
Diluted		308,646,862			321,368,936			321,368,936			305,520,538			320,946,727			320,946,727

9

Unaudited Condensed Consolidated Statements of Cash Flows 

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”) 

except for number of shares and per share data, or otherwise noted)

	Three months ended September 30,									Nine months ended September 30,
	2020			2021			2021			2020			2021			2021
	RMB			RMB			USD			RMB			RMB			USD
Net cash provided by operating activities		1,422,651			1,776,677			275,735			4,166,608			4,826,046			748,991
Net cash provided by (used in)  investing activities		949,952			(3,430,815	)		(532,454	)		464,562			(6,137,905	)		(952,588	)
Net cash provided by financing activities		(1,889,305	)		455,225			70,650			(1,244,002	)		1,178,132			182,843
Effect of foreign exchange rate changes		(4,884	)		43			7			(1,370	)		(2,709	)		(420	)
Net increase(decrease) in cash and cash equivalents		478,414			(1,198,870	)		(186,062	)		3,385,798			(136,436	)		(21,174	)
Cash, cash equivalents, and restricted cash, beginning of year		6,743,234			7,836,700			1,216,237			3,835,850			6,774,266			1,051,350
Cash, cash equivalents, and restricted cash, end of year		7,221,648			6,637,830			1,030,175			7,221,648			6,637,830			1,030,176

10

Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)

except for number of shares and per share data, or otherwise noted)

	Three months ended September 30,
	2020			2021			2021
	RMB			RMB			USD
Net income		1,231,724			1,564,077			242,741
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustment		(64,847	)		(4,435	)		(688	)
Other comprehensive income		(64,847	)		(4,435	)		(688	)
Total comprehensive income		1,166,877			1,559,642			242,053
Net loss(income) attributable to noncontrolling interests		151			-			-
Comprehensive income attributable to ordinary shareholders		1,167,028			1,559,642			242,053

	Nine months ended September 30,
	2020			2021			2021
	RMB			RMB			USD
Net income		2,291,344			4,459,206			692,060
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustment		(37,446	)		(20,227	)		(3,139	)
Other comprehensive (loss) income		(37,446	)		(20,227	)		(3,139	)
Total comprehensive income		2,253,898			4,438,979			688,921
Net loss(income) attributable to noncontrolling interests		453			(42	)		(7	)
Comprehensive income attributable to ordinary shareholders		2,254,351			4,438,937			688,914

11

Unaudited Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)

except for number of shares and per share data, or otherwise noted)

	Three months ended September 30,
	2020			2021			2021
	RMB			RMB			USD
Reconciliation of Non-GAAP Net Income to Net Income
Net income		1,231,724			1,564,077			242,741
Add: Share-based compensation expenses		56,396			69,540			10,792
Non-GAAP net income		1,288,120			1,633,617			253,533
Non-GAAP net income margin		34.8	%		35.4	%
GAAP net income margin		33.3	%		33.9	%
Net income attributable to shareholders of 360 DigiTech, Inc		1,231,875			1,564,077			242,741
Add: Share-based compensation expenses		56,396			69,540			10,792
Non-GAAP net income attributable to shareholders of 360 DigiTech, Inc		1,288,271			1,633,617			253,533
Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS -diluted		154,323,431			160,684,468			160,684,468
Net income per ADS attributable to ordinary shareholders of 360 DigiTech, Inc. -diluted		7.98			9.74			1.52
Non-GAAP net income per ADS attributable to ordinary shareholders of 360 DigiTech, Inc. -diluted		8.35			10.17			1.58
Reconciliation of Non-GAAP Income from operations to Income from operations
Income from operations		1,371,399			1,893,718			293,901
Add: Share-based compensation expenses		56,396			69,540			10,792
Non-GAAP Income from operations		1,427,795			1,963,258			304,693
Non-GAAP operating margin		38.6	%		42.6	%
GAAP operating margin		37.0	%		41.1	%

	Nine months ended September 30,
	2020			2021			2021
	RMB			RMB			USD
Reconciliation of Non-GAAP Net Income to Net Income
Net income		2,291,344			4,459,206			692,060
Add: Share-based compensation expenses		193,447			196,371			30,476
Non-GAAP net income		2,484,791			4,655,577			722,536
Non-GAAP net income margin		24.3	%		38.1	%
GAAP net income margin		22.4	%		36.5	%
Net income attributable to shareholders of 360 Finance, Inc		2,291,797			4,459,164			692,053
Non-GAAP net income attributable to shareholders of 360 Finance, Inc		2,485,244			4,655,535			722,529
Weighted average ADS used in calculating  net income per ordinary share -diluted		152,760,269			160,473,363			160,473,363
Net income per ADS attributable to ordinary shareholders of 360 Finance, Inc. -diluted		15.00			27.79			4.31
Non-GAAP net income per ADS attributable to ordinary shareholders of 360 Finance, Inc. -diluted		16.27			29.01			4.50
Reconciliation of Non-GAAP Income from operations to Income from operations
Income from operations		2,548,815			5,304,623			823,266
Add: Share-based compensation expenses		193,447			196,371			30,476
Non-GAAP Income from operations		2,742,262			5,500,994			853,742
Non-GAAP operating margin		26.8	%		45.0	%
GAAP operating margin		24.9	%		43.4	%

12