UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE
13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2025

Commission File Number 001-38752

Qfin Holdings, Inc.

(Translation of registrant’s name into English)

7/F Lujiazui Finance Plaza

No. 1217 Dongfang Road

Pudong New Area, Shanghai 200122

People’s Republic of China

(Address of principal executiveoffice)

Indicateby check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨

Exhibit Index

Exhibit 99.1 — Press Release

SIGNATURE

Pursuant to the requirements of the SecuritiesExchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Exhibit 99.1

Qfin Holdings Announces Third Quarter 2025 UnauditedFinancial Results

Shanghai, China, November 18, 2025, QfinHoldings, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qfin Holdings” or the “Company”), a leading AI-empowered Credit-Techplatform in China, today announced its unaudited financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Business Highlights

1 Refers to cumulative registered users acrossour platform.

2 “Cumulative users with approved creditlines” refers to the total number of users who had submitted their credit applications and were approved with a credit line at theend of each period.

3 Including 1,544,020 loans across “V-pocket”,and 20,931,039 loans across other products.

4 Refers to the total principal amount of loansfacilitated and originated during the given period. Retrospectively excluding the impact of discontinued service, which did not have andis not expected to have a material impact on our overall business, financial condition, and results of operations.

5 “ICE” is an open platform primarilyon our “Qifu Jietiao” APP (previously known as “360 Jietiao”), we match borrowers and financial institutions throughbig data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitatedthrough “ICE”, the Company does not bear principal risk.

Under total technology solutions, we have beenoffering end-to-end technology solutions to financial institutions based on on-premise deployment, SaaS or hybrid model since 2023.

6 “Total outstanding loan balance”refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquentfor more than 180 days. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have amaterial impact on our overall business, financial condition, and results of operations.

7 “90 day+ delinquency rate” refersto the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage ofthe total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-offand loans under “ICE” and total technology solutions are not included in the delinquency rate calculation.

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

Third Quarter 2025 Financial Highlights

9 Non-GAAP income from operations, Non-GAAP netincome, Non-GAAP operating margin, Non-GAAP net income margin and Non-GAAP net income per fully diluted ADS are Non-GAAP financial measures.For more information on these Non-GAAP financial measures, 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 Directorof Qfin Holdings, commented, “Later part of the third quarter was a rather challenging period of time as we continued to adjustour operations to cope with macro uncertainties and the latest regulatory changes. We continued to see further fluctuation in overallrisk levels as liquidity issues in high-risk segments caused ripple effect across the consumer finance industry, despite our effort tomitigate the risks by tightening risk standards in the middle of the quarter. We will remain prudent in our business planning as the industrysettles under the new regulatory structure in the following quarters.

In the first three quarters of the year, we issuednearly RMB18.9 billion ABS, an over 40% increase over the same period last year. Our blended funding cost remained at historical low despitesomewhat tightening industry liquidity. Approximately 48% of the quarter-end loan balance was under the capital-light model, ICEand total technology solutions, as we continued to make necessary adjustments to our business mix to reflect the changing industry dynamic.We expect such adjustment to continue in the coming quarters as we aim to optimize our business mix under the new operating environment.

As macro challenges and uncertainties persist,we will continue to try to maintain resilience of our baseline business. Meanwhile, the drastically changing environment also presentus opportunities to further streamline our operations and optimize resource allocation in the near term, and capture new growth curveswhen industry recovers in the long run.”

“We delivered another quarter of solid financialresults despite a rapidly changing uncertain macro environment. For the third quarter, total revenue was RMB5.21 billion and Non-GAAPnet income was RMB1.51 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “We also generated approximately RMB2.50billion in cash from operations in the quarter. Total cash^*10 and short-term investment was approximately RMB14.3 billion atthe end of the third quarter. Our strong financial position should enable us to navigate through this particularly challenging environment,achieve our transitional goals and also meet our commitment and obligations to the market.”

Mr. Yan Zheng, Chief Risk Officer, added, “In the third quarter, we observed increased fluctuation in portfolio risks as macro headwinds and regulatory uncertainties continuedto impact users’ financial wellbeing and reduce liquidity in the high-risk segment. Among key leading indicators, Day-1 delinquencyrate^*11 was 5.5% in the third quarter, and 30-day collection rate^*12 was 85.7%. As we further tightened our riskstandard in September and October, new loans’ risk performance shows signs of stabilization and marginal improvement in themost recent data. However, we expect to see continued risk fluctuation in the next few months as underperformance of prior loans may continueto overweigh the improvement of the new loans till the mix reverses.”

10 Including “Cash and cash equivalents”, “Restricted cash” and “Security deposit prepaid to third-party guarantee companies”.

11 “Day-1 delinquency rate” is definedas (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principalthat was due for repayment as of such specified date.

12 “30-day collection rate” is definedas (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as of a specifieddate, divided by (ii) the total amount of principal that became overdue as of such specified date.

Third Quarter 2025 Financial Results

Total net revenuewas RMB5,205.7 million (US$731.2 million), compared to RMB4,370.2 million in the same period of 2024, and RMB5,215.9 millionin the prior quarter.

Net revenue fromCredit Driven Services was RMB3,868.6 million (US$543.4 million), compared to RMB2,901.0 million in the same period of 2024,and RMB3,565.5 million in the prior quarter.

Loan facilitationand servicing fees-capital heavy were RMB513.9 million (US$72.2 million), compared to RMB258.7 million in the same period of2024 and RMB460.9 million in the prior quarter. The year-over-year and sequential increases were primarily driven by the increases incapital-heavy loan facilitation volume.

Financing income^*13was RMB2,340.6 million (US$328.8 million), compared to RMB1,744.1 million in the same period of 2024 and RMB2,205.0 million in the priorquarter. The year-over-year and sequential increases were primarily due to the growth in the average outstanding balance of the on-balance-sheetloans.

Revenue fromreleasing of guarantee liabilities was RMB912.8 million (US$128.2 million), compared to RMB794.6 million in the same periodof 2024, and RMB805.3 million in the prior quarter. The year-over-year and sequential increases were in line with the increases of theaverage outstanding balance of off-balance-sheet capital-heavy loans.

Other servicesfees were RMB101.2 million (US$14.2 million), compared to RMB103.7 million in the same period of 2024, and RMB94.5 millionin the prior quarter. The sequential increase was primarily due to an increase in the late payment fees under the credit driven services.

Net revenue fromPlatform Services was RMB1,337.1 million (US$187.8 million), compared to RMB1,469.1 million in the same period of 2024 andRMB1,650.3 million in the prior quarter.

Loan facilitationand servicing fees-capital light were RMB263.1 million (US$37.0 million), compared to RMB574.6 million in the same period of2024 and RMB326.8 million in the prior quarter. The year-over-year and sequential decreases were primarily due to the decreases in capital-lightloan facilitation volume.

Referral servicesfees were RMB648.1 million (US$91.0 million), compared to RMB763.1 million in the same period of 2024 and RMB986.4 millionin the prior quarter. The year-over-year and sequential decreases were mainly due to the decreases in loan facilitation volume throughICE.

Other servicesfees were RMB425.9 million (US$59.8 million), compared to RMB131.4 million in the same period of 2024 and RMB337.1 millionin the prior quarter. The year-over-year and sequential increases were primarily due to the increases in other value-added services underplatform services.

Total operatingcosts and expenses were RMB3,505.6 million (US$492.4 million), compared to RMB2,081.0 million in the same period of 2024 andRMB3,079.7 million in the prior quarter.

Facilitation,origination and servicing expenses were RMB760.6 million (US$106.8 million), compared to RMB707.9 million in the same periodof 2024 and RMB781.0 million in the prior quarter. The year-over-year increase was primarily due to higher collection fees.

Funding costswere RMB142.8 million (US$20.1 million), compared to RMB146.8 million in the same period of 2024 and RMB142.1 million in theprior quarter. The year-over-year decrease was primarily due to lower average costs of ABS issuance, partially offsetting by the increasein fundings from ABS.

Sales and marketingexpenses were RMB664.8 million (US$93.4 million), compared to RMB419.9 million in the same period of 2024 and RMB662.7 millionin the prior quarter. The year-over-year increase was primarily due to the increase in the allocation of marketing resources to embeddedfinance channels and content feed advertisements to generate more effective leads.

General and administrativeexpenses were RMB143.8 million (US$20.2 million), compared to RMB92.0 million in the same period of 2024 and RMB175.9 millionin the prior quarter. The year-over-year and sequential changes mainly reflected the changes in share-based compensations.

Provision forloans receivable was RMB837.8 million (US$117.7 million), compared to RMB477.5 million in the same period of 2024 and RMB773.8million in the prior quarter. The year-over-year and sequential changes reflected the Company’s consistent approach in assessingprovisions commensurate with its underlying loan profile. Furthermore, the year-over-year increase was also due to the increase in loanorigination volume of on-balance-sheet loans.

Provision forfinancial assets receivable was RMB81.9 million (US$11.5 million), compared to RMB64.4 million in the same period of 2024 andRMB66.6 million in the prior quarter. The year-over-year and sequential increases were primarily due to the increases in capital-heavyloan facilitation volume and the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

Provision foraccounts receivable and contract assets was RMB100.9 million (US$14.2 million), compared to RMB108.8 million in the same periodof 2024 and RMB79.9 million in the prior quarter. The year-over-year and sequential changes reflected the Company’s consistent approachin assessing provisions commensurate with its underlying loan profile and the changes in capital-heavy and capital-light loan facilitationvolume.

Provision forcontingent liability was RMB773.1 million (US$108.6 million), compared to RMB63.6 million in the same period of 2024 and RMB397.6million in the prior quarter. The year-over-year and sequential increases were mainly due to the increases in capital-heavy loan facilitationvolume and reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

Income from operationswas RMB1,700.1 million (US$238.8 million), compared to RMB2,289.2 million in the same period of 2024 and RMB2,136.2 million in the priorquarter.

Non-GAAP incomefrom operations was RMB1,775.9 million (US$249.5 million), compared to RMB2,315.5 million in the same period of 2024 and RMB2,254.7million in the prior quarter.

Operating marginwas 32.7%. Non-GAAP operating margin was 34.1%.

Income beforeincome tax expense was RMB1,831.3 million (US$257.2 million), compared to RMB2,356.9 million in the same period of 2024 andRMB2,172.0 million in the prior quarter.

Income taxesexpense was RMB398.8 million (US$56.0 million), compared to RMB558.1 million in the same period of 2024 and RMB441.5 millionin the prior quarter.

Net incomewas RMB1,432.5 million (US$201.2 million), compared to RMB1,798.8 million in the same period of 2024 and RMB1,730.5 million in the priorquarter.

Non-GAAP netincome was RMB1,508.2 million (US$211.9 million), compared to RMB1,825.1 million in the same period of 2024 and RMB1,849.0million in the prior quarter.

Net income marginwas 27.5%. Non-GAAP net income margin was 29.0%.

Net income attributedto the Company was RMB1,436.0 million (US$201.7 million), compared to RMB1,802.9 million in the same period of 2024 and RMB1,734.0million in the prior quarter.

Non-GAAP netincome attributed to the Company was RMB1,511.8 million (US$212.4 million), compared to RMB1,829.2 million in the same periodof 2024 and RMB1,852.5 million in the prior quarter.

Net income perfully diluted ADS was RMB10.80 (US$1.52).

Non-GAAP netincome per fully diluted ADS was RMB11.36 (US$1.60).

Weighted averagebasic ADS used in calculating GAAP net income per ADS was 130.97 million.

Weighted averagediluted ADS used in calculating GAAP and non-GAAP net income per ADS was 133.05 million.

Ordinary sharesoutstanding as of September 30, 2025 was 260,370,224.

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

30 Day+ Delinquency Rate by Vintage and 180Day+ Delinquency Rate by Vintage

The following charts and tables display the historicalcumulative 30 day+ delinquency rates by loan facilitation and origination vintage and 180 day+ delinquency rates by loan facilitationand origination vintage for all loans facilitated and originated through the Company’s platform. Loans under “ICE” andtotal technology solutions are not included in the 30 day+ charts and the 180 day+ charts:

Update on Share Repurchase

On November 19, 2024, the Board approveda share repurchase plan (the “2025 Share Repurchase Plan”) whereby the Company is authorized to repurchase up to US$450 millionworth of its ADSs or Class A ordinary shares over the next 12 months starting from January 1, 2025.

As of November 18, 2025, the Company hadin aggregate purchased approximately 7.3 million ADSs on the open market for a total amount of approximately US$281 million (inclusiveof commissions) at an average price of US$38.7 per ADS pursuant to the 2025 Share Repurchase Plan.

Business Outlook

As macro environment uncertainties persist, theCompany intends to put risk control as top priority for the time being and maintain a prudent approach in its business planning for thenext couple of quarters. As such, for the fourth quarter of 2025, the Company expects to generate a net income between RMB0.92 billionand RMB1.12 billion and a non-GAAP net income^*14 between RMB1.0 billion and RMB1.2 billion, representing a year-on-year declinebetween 39% and 49%. For full year 2025, the Company expects to generate a net income between RMB5.88 billion and RMB6.08 billion anda non-GAAP net income between RMB6.28 billion and RMB6.48 billion, representing a year-on-year change of -2% to +1%. This outlook reflectsthe Company’s current and preliminary views, which is subject to material changes.

14 Non-GAAP net income represents net income excludingshare-based compensation expenses.

Conference Call Preregistration

Qfin Holdings’ management team will hostan earnings conference call at 7:30 PM U.S. Eastern Time on Tuesday, November 18, 2025 (8:30 AM Beijing Time on Wednesday, November 19,2025).

All participants wishing to join the conferencecall must pre-register online using the link provided below.

Registration Link:https://s1.c-conf.com/diamondpass/10051202-aikhpy.html

Upon registration, each participant will receivedetails for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduledto begin.

Additionally, alive and archived webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.qfin.com.

About Qfin Holdings

Qfin Holdings is a leading AI-empowered Credit-Techplatform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensivesuite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition,preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessibleand personalized to consumers and SMEs through Credit-Tech services to financial institutions.

For more information,please visit: https://ir.qfin.com.

Use of Non-GAAP Financial Measures Statement

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

We use Non-GAAP income from operation, Non-GAAPoperating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net incomeper fully diluted ADS in evaluating our operating results and for financial and operational decision-making purposes. Non-GAAP incomefrom operation represents income from operation excluding share-based compensation expenses. Non-GAAP operating margin is equal to Non-GAAPincome from operation divided by total net revenue. Non-GAAP net income represents net income excluding share-based compensation expenses.Non-GAAP net income margin is equal to Non-GAAP net income divided by total net revenue. Non-GAAP net income attributed to the Companyrepresents net income attributed to the Company excluding share-based compensation expenses. Non-GAAP net income per fully diluted ADSrepresents net income excluding share-based compensation expenses per fully diluted ADS. Such adjustments have no impact on income tax.We believe that Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP netincome attributed to the Company and Non-GAAP net income per fully diluted ADS help identify underlying trends in our business that couldotherwise be distorted by the effect of certain expenses that we include in results based on U.S. GAAP. We believe that Non-GAAP incomefrom operation and Non-GAAP net income provide useful information about our operating results, enhance the overall understanding of ourpast performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financialand operational decision-making. Our Non-GAAP financial information should be considered in addition to results prepared in accordancewith U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of Non-GAAPfinancial 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 certainRMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations fromRMB to U.S. dollars are made at a rate of RMB 7.1190 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Boardof Governors of the Federal Reserve System as of September 30, 2025.

Safe Harbor Statement

Any forward-looking statements contained in thisannouncement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-lookingstatements 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. Qfin Holdings may also make written or oral forward-looking statements in its periodic reports tothe U.S. Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong KongLimited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materialsand in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, includingthe Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherentrisks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-lookingstatement, which factors include but not limited to the following: the Company’s growth strategies, changes in laws, rules andregulatory 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 conditionsin China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these andother risks and uncertainties is included in Qfin Holdings’ filings with the SEC and announcements on the website of the Hong KongStock Exchange. All information provided in this press release is as of the date of this press release, and Qfin Holdings does not undertakeany obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

Qfin Holdings

E-mail: ir@qfin.com

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)

Unaudited Condensed Consolidated Statementsof Operations

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

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

Unaudited Condensed Consolidated Statementsof 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)

Unaudited Condensed Consolidated Statementsof Comprehensive Income/(Loss)

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

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

Unaudited Reconciliations of GAAP and Non-GAAPResults

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

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