360 DigiTech (QFIN) app 360 Jietiao returns to online app stores


What is happening with 360 DigiTech?

Today, August 9, 360 DigiTech (QFIN) from China announced plans to restore its 360 Jietiao app to online app stores, making the app available for download again. During the extended hours of trading this morning, QFIN stock rose 6.55%, to $ 21.30 per share.

What does this mean for QFIN?

During the first part of July of this year, 360 DigiTech removed its 360 Jietiao app – one of its flagship products – from online app stores. This removal may have been linked to a reform request issued by the People’s Bank of China (PBOC) in April 2021, as well as other financial regulatory agencies, which affected 13 different internet financial platforms in China.

According to 360 DigiTech official statement in this regard, “In order to optimize the product design and provide better protection of user data privacy, the application was temporarily taken offline by the cyberspace administration of China in July and the new app downloads were suspended at the same time. ” 360 DigiTech also pointed out that the temporary suspension of its 360 Jietiao application “has not had a significant negative impact” on the company’s operations.

QFIN has a fundamental rank of 84. Find out what that means to you and get the rest of the rank on QFIN!

360 DigiTech Inc is a digital platform driven by data and technology. Through its platform, the company enables financial institutions to deliver products and services to a broader consumer base. The company also offers a standardized risk management service in the form of SaaS modules to institutional clients.

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