Chinese lenders did poorly in the week ended 24 November. Tuesday 21 November: Tighter regulations for online lenders https://seekingalpha.com/news/3313809-tightened-regulations-slam-chinese-online-lenders https://www.reuters.com/article/us-...ending-u-s-listed-shares-plunge-idUSKBN1DL1P0 Thursday 23 November (Thanksgiving) * Possible data breach https://www.bloomberg.com/news/arti...-police-said-to-probe-qudian-client-data-leak Friday 24 November (Black Friday) * BABA's Alipay unit to implement a 24% interest rate cap that is charged by lenders (presumably including QD and others) on its platform beginning November 30 https://www.benzinga.com/news/17/11...ese-internet-microlender-qudian-plunge-friday * PR from QD about 24% cap https://finance.yahoo.com/news/qudian-inc-adjust-apr-credit-104500813.html * The Fly estimates that this affects 66.7% of QD's loans * This article also includes updated estimates from Macquarie https://finance.yahoo.com/news/why-qudian-inc-stock-dropped-171700525.html Quotes for relevant stocks (and ASHR) https://finance.yahoo.com/quotes/ashr,qd,ppdf,yrd,xrf,hx,cifs,jp,jt/view/v1 Stock list QD PPDF YRD XRF HX CIFS JP JT .
QD down again before 7am this morning. "$QD ... more regulations coming today!" twitter dot com/unemon1/status/936561940297547782 this tweet provides a link to a Sina article: finance.sina.com.cn/stock/usstock/c/2017-12-01/doc-ifyphxwa7466058.shtml .
Long-form article from Reuters about the industry: "China's debt crackdown hits cash loan firms" https://finance.yahoo.com/news/chinas-debt-crackdown-hits-cash-022221282.html Mentions upcoming IPO of LexinFintech Holdings (symbol LX) https://seekingalpha.com/symbol/LX "China-Based LexinFintech Files For $500 Million U.S. IPO" https://seekingalpha.com/article/4125669-china-based-lexinfintech-files-500-million-u-s-ipo .
Probably related to the above Sina article: "China cracks down on cash loan firms with new rules: sources" https://www.reuters.com/article/us-...rms-with-new-rules-sources-idUSKBN1DV4OU?il=0 Summary of article from Seeking Alpha: https://seekingalpha.com/news/3315659-beijing-cracks-cash-loan-businesses-reuters .
LexinFintech Holdings https://seekingalpha.com/symbol/LX Listed on December 21 Reuters article "Chinese online lender LexinFintech surges in U.S. market debut" https://finance.yahoo.com/news/chinese-online-lender-lexinfintech-surges-155111172.html Prospectus index from December 21 https://www.sec.gov/Archives/edgar/data/1708259/000104746917007775/0001047469-17-007775-index.htm .