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LexinFintech Holdings Ltd. (NASDAQ: LX) is a leading online consumer finance platform in China. The company focuses on serving the credit needs of educated young adults in the country through innovative loan products. LexinFintech leverages technology to offer a range of credit services including installment loans, direct sales financing, and consumer finance services. As of September 30, 2017, the platform had over 6.5 million customers with approved credit lines and over 20 million registered users, reflecting its significant reach and market penetration.
The company has shown impressive growth in recent years, with approximately 3.0 million active customers in 2016 and 3.3 million in the nine months ending September 30, 2017. This represents a 103% increase from 2015 and a 34% increase from the same period in 2016. LexinFintech continues to grow its customer base by offering convenient and innovative loan products tailored to the evolving needs of its clients at various life stages.
In recent achievements, the total loan origination for the second quarter of 2023 reached RMB63.9 billion, exceeding the company's guidance and marking a 30.1% year-over-year growth. The outstanding loan balance increased by 31.8% year-over-year, reaching RMB114 billion. LexinFintech's focus on holistic risk management and operational efficiency has driven this growth, ensuring that the company remains resilient amid uncertain economic conditions.
Financially, the company's operating revenue for the second quarter of 2023 was RMB3.1 billion, a 26.6% increase year-over-year. Net profit also saw significant growth, reaching RMB356 million, reflecting a 112% year-over-year increase. LexinFintech's e-commerce platform has also performed well, with a 31.6% sequential growth in Gross Merchandise Value (GMV) during the 618 shopping festival, showcasing the platform's strength and its comprehensive consumer ecosystem.
In addition to its core business, LexinFintech has recently implemented a semi-annual dividend policy, reflecting its strong financial position and commitment to returning value to shareholders. The company declared a dividend of US$0.058 per ordinary share for the six-month period ending June 30, 2023.
Looking forward, LexinFintech remains focused on enhancing its risk management capabilities, improving asset quality, and pursuing sustainable growth. The company reaffirms its annual GMV guidance of RMB245-255 billion for 2023, representing a 20-25% year-over-year growth. With a prudent business approach and strategic initiatives, LexinFintech is well-positioned to navigate economic uncertainties and deliver long-term value to its stakeholders.
LexinFintech Holdings (NASDAQ: LX) announced Q3 2024 financial results showing mixed performance. Total loan origination reached RMB51.0 billion, down 19.5% year-over-year, while outstanding loan balance decreased to RMB111.2 billion. Despite declining loan volume, net profit increased 36.7% quarter-over-quarter to RMB310 million. Total operating revenue grew 4.4% year-over-year to RMB3.7 billion. The company reported improved profitability driven by record low funding costs and better asset quality. The Board approved an increased dividend payout ratio to 25% starting 2025. User base expanded with registered users reaching 223 million, up 9.3% year-over-year.
LexinFintech Holdings (NASDAQ: LX) announced it will release its unaudited financial results for the third quarter ended September 30, 2024, after U.S. market closes on November 25, 2024. The company will host an earnings conference call at 9:00 PM U.S. Eastern time on November 25 (10:00 AM Beijing/Hong Kong time on November 26). LexinFintech is a credit technology-empowered consumer financial service enabler in China, focusing on making financing accessible to young generation consumers through its technology and risk management expertise.
LexinFintech Holdings (NASDAQ: LX) reported its Q2 2024 unaudited financial results. Total operating revenue reached RMB3.6 billion, up 19.1% YoY and 12.3% QoQ. Net profit was RMB227 million, a 12.4% increase from Q1 2024. Total loan origination was RMB51.1 billion, down 12% QoQ. The company achieved record-low funding costs and saw rapid growth in its overseas business. Risk performance showed early signs of improvement. LexinFintech declared a cash dividend of US$0.072 per ADS for H1 2024.
Key metrics:
- Registered users: 219 million, up 10.2% YoY
- Active users: 4.2 million, down 16.4% YoY
- Total outstanding loan balance: RMB115 billion, up 0.9% YoY
- 90-day+ delinquency ratio: 3.7%
- Credit facilitation service income: RMB2,669 million, up 24.9% YoY
- Tech-empowerment service income: RMB535 million, up 36.5% YoY
LexinFintech Holdings (NASDAQ: LX), a leading credit technology-empowered consumer financial service enabler in China, has announced it will report its unaudited financial results for the second quarter ended June 30, 2024, after the U.S. market closes on Tuesday, August 27, 2024. The company will host an earnings conference call at 10:00 PM U.S. Eastern time on the same day. Participants can register online to join the call and will receive dial-in details upon registration. A live and archived webcast of the conference call will be available on the company's investor relations website.
LexinFintech Holdings (NASDAQ: LX) reported its unaudited financial results for Q1 2024. Total loan origination was RMB58.0 billion, a 4.8% year-over-year decrease. However, the outstanding loan balance increased by 13.5% to RMB122 billion. Total operating revenue rose by 8.7% to RMB3.2 billion, while net profit was RMB202 million, a 38.4% decline from the previous year. Despite lower loan origination, asset quality improved, and funding costs reached a record low. The number of registered users grew by 10.8% to 215 million, though active users decreased by 10.8% to 4.5 million. The company maintained a conservative outlook, focusing on risk management and operational efficiency.
LexinFintech Holdings (NASDAQ: LX) will report its Q1 2024 unaudited financial results on May 23, 2024, after U.S. market close. The company's management will host an earnings conference call at 10:00 PM U.S. Eastern time on the same day, which corresponds to 10:00 AM Beijing time on May 24, 2024. The call will provide insights into their financial performance and strategic initiatives. Participants must register online to obtain dial-in details and a unique access PIN for the call. An archived webcast will be accessible on the company's investor relations website.
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