Lexinfintch Hold Stock Price, News & Analysis

LexinFintech Holdings Ltd. (NASDAQ: LX) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the Securities and Exchange Commission on April 26, 2023. The report is accessible on the investor relations website. Shareholders and ADS holders can request a hard copy of the annual report, which includes audited consolidated financial statements, at no charge. Lexin aims to utilize technology and risk management to enhance financing accessibility for younger consumers in China, connecting them with financial institutions through a mix of online and offline channels.

LexinFintech Holdings Ltd. (NASDAQ: LX) reported Q4 2022 financial results, showing total loan origination of RMB56.1 billion, a 28.8% year-over-year increase. The total outstanding loan balance reached RMB99.6 billion, up 15.9% year-over-year. Q4 operating revenue rose to RMB3.1 billion, a 38.7% increase from Q4 2021, with net profit at approximately RMB301 million, reflecting a 17.9% year-over-year growth. Despite these positive results, active users using loan products decreased by 15.3% year-over-year. The company expects loan originations in Q1 2023 to be around RMB60 billion, signaling a 39% year-over-year growth outlook.

LexinFintech Holdings Ltd. (NASDAQ: LX) will release its unaudited financial results for Q4 and FY 2022 after market close on March 13, 2023. The earnings conference call is set for 9:30 PM EST the same day, with a registration link provided for participants. The company, based in Shenzhen, focuses on technology-driven personal financial services, aiming to connect consumers with financial institutions. Lexin aims to enhance financing accessibility for younger generations through a blend of online and offline channels, big data, and AI-based risk management solutions.

The latest report on the China Buy Now Pay Later (BNPL) market highlights a robust growth forecast, estimating that BNPL payments will reach US$116,110.2 million in 2023, reflecting a 19.2% annual growth rate. The sector is projected to grow at a CAGR of 10.5% from 2023 to 2028, with the Gross Merchandise Value expected to rise from US$97,384.7 million in 2022 to US$191,165.0 million by 2028. The report provides over 75 KPIs, analyzing market dynamics, opportunities, and consumer behavior, offering insights for stakeholders about the evolving BNPL landscape in China.

LexinFintech Holdings Ltd. (NASDAQ: LX) announced the resignations of CFO Sunny Rui Sun and Chief Financing Cooperation Officer Kris Qian Qiao, effective December 30, 2022, for personal reasons. The company appointed James Xigui Zheng as the new CFO and director, starting January 1, 2023. Zheng brings extensive experience from previous roles at Lufax and eBay, which is expected to enhance Lexin's leadership in consumer finance.

LexinFintech Holdings Ltd. (LX) reported its Q3 2022 financial results, revealing total loan originations of approximately RMB56.2 billion, exceeding expectations. Operating revenue decreased by 9.4% to RMB2,690 million, while net income fell by 52.5% to RMB275 million. Despite a decline in active users, the user base rose to 184 million. Revenue from new consumption-driven services increased by 31.3%. The company authorized a new share repurchase program of up to US$20 million. Management remains focused on prudent development amid market uncertainties.

LexinFintech Holdings Ltd. (NASDAQ: LX) is set to announce its unaudited financial results for Q3 2022 on November 16, 2022. The earnings call will begin at 8:30 PM ET, with registration required for participants. Lexin is recognized as a significant online and offline consumption platform in China, connecting consumers and small enterprises with funding partners. Established in 2013, it leverages technological capabilities and partnerships with financial institutions. For more information, visit their investor relations website.

LexinFintech Holdings Ltd. (LX) reported a 40.9% quarter-over-quarter increase in operating revenue, totaling RMB2,413 million, despite a 26.2% decline compared to the prior year. Loan origination reached RMB49.1 billion, marking a 13.9% growth. Net profit surged 105.5% quarter-over-quarter, yet dropped 79% year-over-year to RMB165 million. Registered users grew to 178 million, a 23.5% increase. However, active users declined by 27.6%. The company maintains a focus on technology investment and enhancing operational efficiencies.