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LexinFintech Holdings Ltd. reports developments tied to its technology-empowered personal financial service business in China. The company connects consumers with financial institutions through online and offline channels, an installment consumption platform, big data and AI-driven credit risk management, and smart user and loan management systems. It also provides technology solutions for financial institutions pursuing digital transformation.
Recurring news themes include unaudited quarterly and annual results, loan origination trends, asset quality indicators, delinquency metrics, funding costs, regulatory adaptation, compliance and risk management. Company updates also cover capital-return actions such as dividends, ADS repurchases and share repurchase programs.
LexinFintech Holdings Ltd. (NASDAQ: LX) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 29, 2022. Investors can access the report on the company's investor relations website. Lexin is recognized as a prominent online and offline consumption platform in China, established in 2013, leveraging technological capabilities to connect consumers and small enterprises with funding partners. The company offers free hard copies of its audited financial statements to shareholders upon request.
LexinFintech Holdings Ltd. (NASDAQ: LX) announced a share repurchase program allowing for the buyback of up to US$50 million in shares over the next twelve months. This initiative reflects the Company's confidence in its business fundamentals and growth prospects. The repurchases may occur through various means such as open market transactions and block trades, contingent on market conditions. Lexin plans to fund this program using its existing cash balance.
LexinFintech Holdings Ltd. (LX) reported its unaudited financial results for Q4 and full year 2021, with net income surging 292% year-over-year to RMB2,334 million. Despite significant challenges, the company achieved a 15.6% reduction in operating expenses and a record loan origination level. However, Q4 results revealed a 27.5% decline in total operating revenue, attributed to decreased credit-oriented services and platform-based services income. The total loan originations decreased by 18.1% in Q4, hinting at potential challenges in user engagement, with active users dropping by 23.8% from the previous year.
LexinFintech Holdings Ltd. (NASDAQ: LX) will release its unaudited financial results for Q4 and the full year ending December 31, 2021, on March 15, 2022, after U.S. market hours. Management will conduct an earnings conference call at 9:30 P.M. Eastern Time on the same day. Interested participants should register online to receive dial-in details.
Lexin is a prominent online consumption and finance platform in China, focusing on connecting consumers with financial institutions through advanced technology.
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LexinFintech Holdings Ltd. (NASDAQ: LX) announced that senior management plans to purchase up to $10 million worth of the Company’s American depository shares (ADSs) within six months. The purchases are led by various executives including Chairman Jay Wenjie Xiao and CFO Sunny Rui Sun. These transactions may occur in the open market or through private negotiations. The management team expresses confidence in their initiatives aimed at sustainable growth, including developments like Maiya and Le Partners.
LexinFintech Holdings Ltd. (LX) released Q3 2021 financial results, highlighting a 68.5% increase in net income to RMB 581 million and a 54% rise in gross profit to RMB 1,507 million. Despite the challenges, operating revenue stood at RMB 2.97 billion, a slight decline from the previous year. Total loan originations rose 15.6% to RMB 55.8 billion, while the outstanding loans increased 37.8% year-over-year. The 90-day delinquency ratio remained stable at 1.85%.
LexinFintech Holdings Ltd. (NASDAQ: LX) will announce its unaudited financial results for Q3 2021 on November 10, 2021, after U.S. market close. The earnings conference call is scheduled for 8:30 PM ET on the same day. Interested participants can register online to join the call, which will also be available via live and archived webcast on the company's investor relations website. The replay will be accessible until November 17, 2021. Lexin is a prominent online consumption and finance platform in China, established in 2013.
LexinFintech Holdings Ltd. (LX) reported strong Q2 2021 results, with total operating revenue soaring 10.5% to RMB3.3 billion and net income climbing 87.7% to RMB787 million. Active users increased by 24% year-over-year, reaching 8.4 million, while loan originations jumped 47.6% to RMB60.6 billion. However, the company lowered its full-year guidance for loan originations to RMB230 billion due to regulatory changes. Despite challenges, credit quality remained stable with a 90+ day delinquency ratio of 1.85% and a vintage charge-off rate of 3.5%. Lexin emphasizes a focus on asset quality and profitability.
LexinFintech Holdings Ltd. (NASDAQ: LX) will announce its unaudited financial results for Q2 ended June 30, 2021, on August 25, 2021, before the market opens. Management will host an earnings call at 7:00 AM ET on the same day. Interested participants can register online for the call and access a live and archived webcast on the company’s investor relations website. Lexin is a leading online consumption and finance platform in China, offering comprehensive financial services including BNPL and membership benefits through its platforms.