Qudian (QD) Announces Change of Auditor

Qudian Inc. (NYSE: QD), a consumer-oriented technology company, today announced the appointment of BDO China Shu Lun Pan Certified Public Accountants LLP ("BDO") as the Company's independent registered public accounting firm, effective on September 6, 2024.

BDO succeeds Ernst & Young Hua Ming LLP ("EY"), which previously was the independent auditor providing audit services to the Company. The change of the Company's independent auditor was made after careful consideration and was approved by the Audit Committee and the Board of Directors of the Company. The decision to change auditor was not as a result of any disagreement between the Company and EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.

EY's audit reports on the Company's consolidated financial statements as of and for the years ended December 31, 2022 and 2023 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles.

During each of the years ended December 31, 2022 and 2023, and during the subsequent interim period through September 6, 2024, there have been (i) no disagreements (as defined in Item 16F(a)(1)(iv) of Form 20-F and the related instructions thereto) with EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of EY, would have caused EY to make reference to the subject matter of the disagreements in connection with its reports on the consolidated financial statements for such years, and (ii) no reportable events (as defined in Item 16F(a)(1)(v) of Form 20-F).

During the Company's two most recent fiscal years ended December 31, 2023, and during the subsequent interim period prior to the engagement of BDO on September 6, 2024, neither the Company nor anyone acting on its behalf consulted with BDO on either (a) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company by BDO that BDO concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (b) any matter that was the subject of a disagreement, as that term is defined in Item 16F(a)(1)(iv) of Form 20-F (and the related instructions thereto) or a reportable event as set forth in Item 16F(a)(1)(v) of Form 20-F.

The Company is working closely with EY and BDO to ensure a seamless transition.

The Board of Directors of the Company would like to express its sincere gratitude to EY for its professionalism and quality of services rendered to the Company over the past few years.

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