Credisphere Limited

	Page
Company Information	1
Director's Report	2
Independent Auditor's Report	3—6
Profit and Loss Account	7
Balance Sheet	8
Statement of Changes in Equity	9
Notes to the Financial Statements	10—14

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Credisphere Limited

Company No. 16255580

Director's Report For the Period 17 February 2025 to 31 December 2025

Director's Report

The director presents his report and the financial statements for the period ended 31 December 2025.

Principal Activity

The principal activity of the company is that of a UK consumer credit lending and credit technology business.

Directors

The director who held office during the period was as follows:

Mr Rongxin Song

Appointed

17/02/2025

Statement of Director's Responsibilities

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have

elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice

(United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the

financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of

the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will

continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's

transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to

ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the

assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other

irregularities.

Statement of Disclosure of Information to Auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken

as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors

are aware of that information.

Independent Auditors

The auditors, HGA Citrus Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mr Rongxin Song

Director

20/09/2026

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Independent Auditor's Report

to the Members of

Credisphere Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Credisphere (the 'company') for the period ended 31 December 2025 which comprise the Profit and loss account, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company’s affairs as at 31 December 2025 and of its profit/(loss) for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the

financial statements section of our report. We are independent of the company in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,

and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting

in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions

that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a

period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant

sections of this report.

Other Information

The directors are responsible for the other information. The other information comprises the information in the Report of

the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or

apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the

financial statements themselves. If, based on the work we have performed, we conclude that there is a material

misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the Report of the Directors for the financial year for which the financial statements are

prepared is consistent with the financial statements; and

- the Report of the Directors has been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Credisphere Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,

we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to

you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from

branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime

and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in

preparing the Report of the Directors.

Responsibilities of Directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible

for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such

internal control as the directors determine necessary to enable the preparation of financial statements that are free from

material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a

going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic

alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Credisphere Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with

ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are

considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic

decisions of users taken on the basis of these financial statements.

We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in

which they operate.

We focused on specific laws and regulations which we considered may have a direct impact material effect on the

financial statements, or the operations of the company which included the Companies Act 2006, taxation legislation,

data protection, anti-bribery, employment and health and safety legislation;

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls;

- Challenging assumptions and judgments made by management in its significant accounting estimates;

- Assessing the extent of compliance with the relevant laws and regulations.

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws

and regulations and fraud;

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to

involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:

-Performed analytical procedures to identify any unusual or unexpected relationships;

-Identifying and testing journal entries, in particular those with unusual account combinations, unusual words or

unusual users

-Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias;

-Investigated the rationale behind significant or unusual transactions

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those

leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the

more that compliance with a law or regulation is removed from the events and transactions reflected in the financial

statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding

irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion,

omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Credisphere Limited

Faustino Franco (Senior Statutory Auditor)

for and on behalf of HGA Citrus Limited , Statutory Auditor

22/09/2026

HGA Citrus Limited

Chartered accountants and Statutory Auditors

Suite 2A, 7th Floor

City Reach 5 Greenwich View Place

London

E14 9NN

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Credisphere Limited

Profit and Loss Account

For the Period 17 February 2025 to 31 December 2025

Profit and Loss Account

		31 December 2025
	Notes	£
TURNOVER		1,784,561
Cost of sales		(587,293 )

GROSS PROFIT		1,197,268

Administrative expenses		(3,834,784 )

OPERATING LOSS		(2,637,516 )
Other interest receivable and similar income		10,298
Interest payable and similar charges		-

LOSS FOR THE FINANCIAL PERIOD		(2,627,218 )

The notes on pages 10 to 14 form part of these financial statements.

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Credisphere Limited

Balance Sheet

As At 31 December 2025

Balance Sheet

		31 December 2025
	Notes	£	£
CURRENT ASSETS
Debtors	6	20,314,067
Cash at bank and in hand		1,606,489

		21,920,556
Creditors: Amounts Falling Due Within One Year	7	(201,319 )

NET CURRENT ASSETS (LIABILITIES)			21,719,237

TOTAL ASSETS LESS CURRENT LIABILITIES			21,719,237

Creditors: Amounts Falling Due After More Than One Year	8		(24,336,455 )

NET LIABILITIES			(2,617,218 )

CAPITAL AND RESERVES
Called up share capital	9		10,000
Profit and Loss Account			(2,627,218 )

SHAREHOLDERS' FUNDS			(2,617,218)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Rongxin Song

Director

20/09/2026

The notes on pages 10 to 14 form part of these financial statements.

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Credisphere Limited

Statement of Changes in Equity

For the Period 17 February 2025 to 31 December 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 17 February 2025	10,000	-	10,000
Loss for the period and total comprehensive income	-	(2,627,218 )	(2,627,218)

As at 31 December 2025	10,000	(2,627,218 )	(2,617,218)

The company was incorporated on 17 February 2025 and had no retained earnings on incorporation. The loss for the period was £2,627,218, resulting in closing retained losses of £2,627,218 as at 31 December 2025.

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Credisphere Limited

Notes to the Financial Statements

For the Period 17 February 2025 to 31 December 2025

Notes to the Financial Statements

1. General Information

Credisphere Limited is a private company, limited by shares, incorporated in England & Wales, registered number 16255580 . The registered office is 12 New Fetter Lane, London, United Kingdom, EC4A 1JP.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.2. Going Concern Disclosure

The directors have received written confirmation that the holding company, Qfin Holdings, Inc. will provide

unconditional financial support to CREDISPHERE Limited for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.3. Turnover

Turnover comprises interest income arising from consumer loan receivables and administration fee income. Interest income on financial assets measured at amortised cost is recognised using the effective interest method. Administration fee income is recognised when the related services are provided.

3.4. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.5. Foreign Currencies

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of

the transaction. At the end of each reporting period foreign currency monetary items are translated at

the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at

the rate ruling at the date of the transaction. All differences are charged to profit or loss.

3.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the

statement of comprehensive income because of items of income or expense that are taxable or deductible in other

years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax

rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against

which the asset can be utilised. Deferred tax is measured at the rates expected to apply when the asset is realised or

the liability is settled, based on rates enacted or substantively enacted at the reporting date.

3.7. Additional Accounting Policy

3.7a Financial instruments — accounting policy choice

As permitted by paragraph 11.2(c) of FRS 102, the company has elected to apply the recognition and measurement provisions of IFRS 9 'Financial Instruments' (as adopted for use in the United Kingdom) to all of its financial instruments, together with the presentation and disclosure requirements of FRS 102 as applicable to a small entity applying Section 1A. This policy choice has been applied consistently to all financial instruments and across all periods presented.

The directors consider that the expected credit loss ('ECL') model in IFRS 9 provides more relevant information about the company's principal activity — the acquisition and management of consumer loan portfolios in which credit risk is retained and managed in house — than the incurred loss model in Section 11 of FRS 102, because it recognises credit losses progressively as credit risk increases rather than only on the occurrence of a loss event.

3.7b Recognition and initial measurement

...CONTINUED

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Credisphere Limited

Notes to the Financial Statements (continued)

For the Period 17 February 2025 to 31 December 2025

3.7. Additional Accounting Policy - continued

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Purchased loan portfolios are recognised on the date of acquisition at the fair value of the consideration paid, plus transaction costs directly attributable to the acquisition. Other financial assets and financial liabilities are initially measured at fair value plus or minus directly attributable transaction costs, except where the asset or liability is subsequently measured at fair value through profit or loss.

3.7c Classification and subsequent measurement of financial assets

The company's loan portfolios are held within a business model whose objective is to collect the contractual cash flows of the underlying loans, and the contractual terms of those loans give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. Accordingly, loan receivables are subsequently measured at amortised cost using the effective interest method.

Interest income is calculated by applying the effective interest rate ('EIR') to the gross carrying amount of the asset, except for financial assets that have become credit-impaired subsequent to initial recognition (Stage 3, as described below), for which interest income is calculated by applying the EIR to the amortised cost of the asset net of the ECL allowance.

Trade and other receivables and cash and cash equivalents are also measured at amortised cost. The company does not hold financial assets measured at fair value through other comprehensive income or at fair value through profit or loss, and does not apply hedge accounting.

3.7d Purchased or originated credit-impaired assets

Where individual loans within an acquired portfolio are credit-impaired at the date of purchase, they are treated as purchased credit-impaired ('POCI') assets. POCI assets are recognised initially at fair value with no separate loss allowance; a credit-adjusted EIR, which incorporates lifetime expected credit losses at initial recognition, is applied to the amortised cost of the asset. Subsequent changes in lifetime expected credit losses, favourable or adverse, are recognised in profit or loss as an impairment gain or loss.

3.7e Impairment — expected credit losses

The company recognises a loss allowance for expected credit losses on all loan receivables measured at amortised cost. The loss allowance is measured under the IFRS 9 three-stage general approach, which reflects changes in credit risk since initial recognition:

• Stage 1 — performing loans that have not experienced a significant increase in credit risk since initial recognition. The loss allowance is measured at an amount equal to 12-month expected credit losses.

• Stage 2 — loans that have experienced a significant increase in credit risk ('SICR') since initial recognition but are not credit-impaired. The loss allowance is measured at an amount equal to lifetime expected credit losses. The company applies the IFRS 9 backstop and treats a loan that is more than 30 days past due on a contractual payment as having experienced a SICR.

• Stage 3 — credit-impaired loans. Consistent with the rebuttable presumption in IFRS 9, a loan is treated as defaulted, and therefore credit-impaired, when it is 90 or more days past due on contractual payments, or earlier where other indicators of unlikeliness to pay exist (for example insolvency proceedings, an individual voluntary arrangement or a debt relief order affecting the borrower). The loss allowance is measured at lifetime expected credit losses.

Movements between stages are assessed at each reporting date on a loan-by-loan basis using contractual days-past-due information, supplemented by other reasonable and supportable information available without undue cost or effort.

3.7f Measurement of expected credit losses

Expected credit losses are an unbiased, probability-weighted estimate of credit losses, measured as the product of the probability of default ('PD'), the loss given default ('LGD') and the exposure at default ('EAD') for each delinquency segment of the portfolio, discounted to present value at the original EIR (or credit-adjusted EIR for POCI assets). The principal inputs are determined as follows:

• Probability of default — 12-month and lifetime PDs are derived from migration (roll-rate) matrices that measure the observed monthly frequency with which loans move between delinquency states (current, 1–30, 31–60, 61–90 days past due and default) based on the company's own portfolio history, supplemented where that history is limited by external benchmarks and management judgement.

• Loss given default — LGD reflects the cash flows the company expects to recover following default, including collections, litigation recoveries and the expected proceeds of sales of defaulted loans to third parties, net of direct costs, discounted at the original EIR.

...CONTINUED

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Credisphere Limited

Notes to the Financial Statements (continued)

For the Period 17 February 2025 to 31 December 2025

3.7. Additional Accounting Policy - continued

• Exposure at default — EAD is the expected outstanding principal balance, together with accrued interest and capitalised fees where applicable, at the point of default, reflecting contractual repayments and expected prepayments.

The measurement of expected credit losses incorporates forward-looking information. Historical PDs are adjusted by probability-weighted multipliers derived from multiple macroeconomic scenarios (a base case, an upside and a downside), constructed by reference to official forecasts and observable indicators for the UK economy, principally unemployment, inflation, interest rates, real incomes and personal insolvency volumes. The scenarios, their weightings and the sensitivity of default rates to the macroeconomic drivers are reviewed and approved by the directors at each reporting date.

The loss allowance is deducted from the gross carrying amount of loan receivables in the balance sheet. Impairment losses, and reversals of impairment losses, are recognised in profit or loss within administrative expenses .

3.7g Write-off

Loans are written off, in full or in part, when the company has no reasonable expectation of recovering the contractual cash flows, for example on completion of a sale of the defaulted loan, on conclusion of insolvency proceedings, or when enforcement activity ceases. A write-off constitutes a derecognition event. Amounts subsequently recovered on loans previously written off are recognised in profit or loss when received.

3.7h Derecognition

Financial assets are derecognised when the contractual rights to the cash flows expire or when the company transfers the asset, including through the sale of delinquent loans to third parties, and substantially all the risks and rewards of ownership are transferred. On derecognition, the difference between the carrying amount and the consideration received is recognised in profit or loss. Where the contractual terms of a loan are renegotiated or modified and the modification does not result in derecognition, the gross carrying amount is recalculated as the present value of the modified cash flows discounted at the original EIR, with the resulting gain or loss recognised in profit or loss.

3.7i Financial liabilities

Financial liabilities, including trade and other payables and borrowings (including amounts owed to group undertakings), are initially recognised at fair value net of transaction costs and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the obligation is discharged, cancelled or expires.

3.7j Judgements and key sources of estimation uncertainty

The measurement of expected credit losses is the area of the financial statements subject to the most significant judgement and estimation uncertainty. The principal judgements are the criteria for determining a significant increase in credit risk and default (including the 30- and 90-day past-due thresholds described above) and the selection and weighting of forward-looking macroeconomic scenarios. The principal sources of estimation uncertainty are the PDs derived from migration matrices, which are based on a limited period of portfolio history and are supplemented by external benchmarks; the LGD assumptions, which depend on expected proceeds from sales of defaulted loans and recovery strategies that have yet to be fully evidenced by settled outcomes; and the macroeconomic multipliers applied to historical default rates. These assumptions are back-tested against actual outcomes and refined as the company's own loss experience develops. A reasonably possible change in these assumptions could result in a materially different loss allowance within the next financial year.

3.7k Presentation currency

These financial statements are presented in pounds sterling (£), which is the Company's functional and presentation currency. All amounts are rounded to the nearest pound.

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Credisphere Limited

Notes to the Financial Statements (continued)

For the Period 17 February 2025 to 31 December 2025

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the period was as follows:

	31 December 2025
	£
Audit Services
Audit of the company's financial statements	13,200

5. Average Number of Employees

Average number of employees, including directors, during the period was: 1

6. Debtors

	31 December 2025
	£
Due within one year
Trade debtors	19,814,067
Due after more than one year
Other debtors	500,000

	20,314,067

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025
	£
Trade creditors	99,158
Other creditors	102,161

	201,319

8. Creditors: Amounts Falling Due After More Than One Year

	31 December 2025
	£
Amounts owed to group undertakings	24,336,455

9. Share Capital

	31 December 2025
	£
Allotted, Called up and fully paid	10,000

The company has 10,000 Ordinary shares of £1 each, fully paid.

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Credisphere Limited

Notes to the Financial Statements (continued)

For the Period 17 February 2025 to 31 December 2025

10. Related Party Disclosures

HK Qirui International Technology Limited

Immediate parent undertaking

£24,336,455

11. Controlling Parties

The company's immediate parent undertaking is HK Qirui International Technology Limited .

The ultimate parent undertaking is Qfin Holdings, Inc. (incorporated in Cayman Islands). Its registered office is PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands .

Copies of the group accounts may be obtained from the company's registered office.

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Director	Mr Rongxin Song

Company Number	16255580

Registered Office	12 New Fetter Lane
	London
	United Kingdom
	EC4A 1JP

Auditors	HGA Citrus Limited
	Chartered accountants and Statutory Auditors
	Suite 2A, 7th Floor
	City Reach 5 Greenwich View Place
	London
	E14 9NN