{"url_path":"/sec/qfnhf/10-k/2026/item-7","section_key":"item-7","section_title":"Item 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-04-27","source_url":"https://www.sec.gov/Archives/edgar/data/1741530/0001104659-26-049501-index.html","accession_number":"0001104659-26-049501","cik":"0001741530","ticker":"QFIN","issuer_name":"Qfin Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1741530/0001104659-26-049501-index.html","primary_entity_key":"0001741530","primary_entity_name":"Qfin Holdings, Inc."},"word_count":1234,"has_tables":true,"body_markdown":"ITEM 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS\n\nA.           Major Shareholders\n\nPlease refer to “Item 6. Directors, Senior Management and Employees—E. Share Ownership.”\n\nB.           Related Party Transactions\n\nContractual Arrangements with the VIEs and their Shareholders\n\nSee “Item 4. Information on the Company—C. Organizational Structure.”\n\nEmployment Agreements and Indemnification Agreements\n\nSee “Item 6. Directors, Senior Management and Employees—A. Directors and Senior Management—Employment Agreements and Indemnification Agreements.”\n\nShare Incentive Plan\n\nSee “Item 6. Directors, Senior Management and Employees—B. Compensation—2018 Share Incentive Plan” and “Item 6. Directors, Senior Management and Employees—B. Compensation—2019 Share Incentive Plan.”\n\n​\n\n158\n\n[Table of Contents](#TOC)\n\nTransactions with 360 Group\n\n360 Group was our related party during the fiscal years of 2023, 2024 and for substantially all of the fiscal year of 2025, as 360 Group was controlled by Mr. Hongyi Zhou, who was deemed to beneficially own the shares of our company held by Aerovane Company Limited, one of our principal shareholders. 360 Group ceased to be our related party in December 2025 as a result of the termination of the acting-in-concert arrangement between Mr. Zhou and the shareholders of Aerovane Company Limited. Therefore, the amount due from/to 360 Group entities as of December 31, 2025 ceased to be disclosed as related party balances.\n\nWe entered into a framework collaboration agreement with 360 Group in July 2018 to cooperate in areas including technology development, user traffic and trademark licensing. This framework collaboration agreement was terminated in August 2025.\n\nWe transacted with several entities of 360 Group during the fiscal years of 2023, 2024 and 2025. 360 Group authorized us to use its brand “360” and had historically provided advertising services to promote our products through its matrix of mobile applications and services, such as 360 Browser and 360 Mobile Assistant. Advertising services were calculated and charged to us under different formulas depending on the form of advertisements, including cost per action (CPA), cost per sale (CPS) and fixed service fees. Notwithstanding the termination of the framework collaboration agreement, certain lease and technology-related services between 360 Group and our company remain in place.\n\nIn 2025, services provided by 360 Group entities were RMB240.0 million (US$34.3 million). As of December 31, 2025, RMB40.0 million (US$5.7 million) was due to 360 Group entities which was included in “Accrued expenses and current liabilities”, and RMB1.2 million (US$0.2 million) was due from them which was included in “Prepaid and other current liabilities as they were no longer related party balances.\n\nIn 2024, services provided by 360 Group entities were RMB233.3 million. As of December 31, 2024, RMB64.4 million was due to 360 Group entities, and RMB1.2 million was due from them.\n\nIn 2023, services provided by 360 Group entities were RMB236.3 million. As of December 31, 2023, RMB77.3 million was due to 360 Group entities, and RMB2.2 million was due from them.\n\nTransactions with Shanghai Qibutianxia\n\nShanghai Qibutianxia and its subsidiaries were related parties to us during the fiscal years of 2023, 2024 and for substantially all of the fiscal year of 2025, as Shanghai Qibutianxia was controlled by Mr. Hongyi Zhou, who was deemed to beneficially own the shares of our company held by Aerovane Company Limited, one of our principal shareholders. Shanghai Qibutianxia ceased to be our related party in December 2025 as a result of the termination of the acting-in-concert arrangement between Mr. Zhou and the shareholders of Aerovane Company Limited. Therefore, the amount due from/to Shanghai Qibutianxia and its subsidiaries as of December 31, 2025 ceased to be disclosed as related party balances.\n\nWe transacted with Shanghai Qibutianxia and its subsidiaries during the fiscal years 2023, 2024 and 2025, mainly including receiving borrower referral services provided by Tianjin Yujie Technology Co., Ltd.\n\nIn September 2023, we acquired from Shanghai Qibutianxia the equity interests in certain of its subsidiaries that provide wealth management services and offline sales and promotion services with a total consideration of RMB81.8 million.\n\n159\n\n[Table of Contents](#TOC)\n\nThe following table sets forth the transaction amounts and outstanding balances for the transactions between Shanghai Qibutianxia and us for the years presented.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**For the year ended/As of December 31, **\n\n​\n\n​\n\n**2023**\n\n​\n\n**2024**\n\n​\n\n**2025**\n\n​\n\n  ​ ​ ​\n\n**RMB**\n\n  ​ ​ ​\n\n**RMB**\n\n  ​ ​ ​\n\n**RMB**\n\n  ​ ​ ​\n\n**US$**\n\n​\n\n \n\n**(in millions)**\n\nFor services provided by Shanghai Qibutianxia and its subsidiaries to us\n\n  ​ ​ ​\n\n119.7\n\n  ​ ​ ​\n\n—\n\n  ​ ​ ​\n\n—\n\n  ​ ​ ​\n\n—\n\nFor services provided by us to Shanghai Qibutianxia and its subsidiaries\n\n \n\n0.1\n\n \n\n—\n\n \n\n—\n\n \n\n—\n\nAmounts due from Shanghai Qibutianxia and its subsidiaries to us\n\n \n\n0.2\n\n \n\n1.1\n\n \n\n0.2\n\n(1)​\n\n0.0\n\nAmounts due from us to Shanghai Qibutianxia and its subsidiaries\n\n \n\n3.1\n\n \n\n3.1\n\n \n\n3.1\n\n(2)​\n\n0.4\n\nOutstanding loan under joint back-to-back guarantee arrangement with Shanghai Qibutianxia\n\n \n\n5,239.0\n\n \n\n—\n\n \n\n—\n\n \n\n—\n\nNotes:\n\n(1)Amount was RMB0.2 million (US$0.0 million) which was included in prepaid and other assets as it was longer related party balance.\n\n(2)Amount was RMB3.1 million (US$0.4 million) which was included in prepaid and other assets as it was longer related party balance.\n\nTransactions with Kincheng Bank of Tianjin Co., Ltd.\n\nKincheng Bank was a related party of ours during the fiscal years of 2023, 2024 and for substantially all of fiscal year 2025, as Kincheng Bank was affiliated with Mr. Hongyi Zhou, who was deemed to beneficially own the shares of our company held by Aerovane Company Limited, one of our principal shareholders. Kincheng Bank ceased to be our related party in December 2025 as a result of the termination of the acting-in-concert arrangement between Mr. Zhou and the shareholders of Aerovane Company Limited. Therefore, the amount due from/to Kincheng Bank as of December 31, 2025 ceased to be disclosed as related party balances.\n\nWe transacted with Kincheng Bank during the fiscal years 2023, 2024 and 2025 as we provide credit-driven services and platform services to Kincheng Bank and charge service fees.\n\nThe following table sets forth the transaction amounts and outstanding balances for the transactions between Kincheng Bank and us for the years presented.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**For the year ended/As of December 31, **\n\n \n\n​\n\n  ​ ​ ​\n\n**2023**\n\n  ​ ​ ​\n\n**2024**\n\n  ​ ​ ​\n\n**2025**\n\n \n\n​\n\n​\n\n**RMB**\n\n​\n\n**RMB**\n\n​\n\n**RMB**\n\n  ​ ​ ​\n\n**US$**\n\n \n\n​\n\n \n\n**(in millions)**\n\n​\n\nFor services provided by us to Kincheng Bank\n\n​\n\n301.6\n\n​\n\n61.5\n\n​\n\n5.7\n\n​\n\n0.8\n\n​\n\nAmounts due from Kincheng Bank to us\n\n \n\n47.2\n\n(1)​\n\n6.3\n\n(2)​\n\n0.6\n\n(3)​\n\n0.1\n\n​\n\n*Notes:*\n\n(1)Among which the amounts of loan facilitation and post-facilitation services of RMB61.0 million, net of allowance of RMB25.8 million.\n\n(2)Among which the amounts of loan facilitation and post-facilitation services of RMB9.2 million, net of allowance of RMB7.0 million.\n\n(3)Amount is RMB0.6 million US$0.1 million which is included in prepaid and other assets as it is longer related party balance.\n\n*\n\nWe have held bank deposit with Kincheng Bank, which amounted to RMB3,006.4 million, RMB3,000.5 million and nil as of December 31, 2023, 2024 and 2025, respectively. The related interest income was RMB145.7 million, RMB119.3 million and RMB53.7 million (US$7.7 million) for the year ended December 31, 2023, 2024 and 2025, respectively, and interest receivable as of December 31, 2023, 2024 and 2025 was RMB15.3 million, RMB2.7 million and nil, respectively.\n\n160\n\n[Table of Contents](#TOC)\n\nC.          Interests of Experts and Counsel\n\nNot applicable.\n\n​"}