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) 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.
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On July 15, 2021, LexinFintech Holdings Ltd. announced the promotion of Mr. Jayden Yang Qiao to Chief Risk Officer. Mr. Qiao joined Lexin earlier this year as Vice President, where he improved the company's credit risk management. Under his guidance, Lexin has achieved a 40% reduction in its 1+ days past due rate compared to the previous year, bringing it down to 4.92%. Additionally, the recovery rate for bad debts improved by 30%. Mr. Qiao's extensive experience includes roles at JD Digits and Discover Financial Services, showcasing his expertise in risk management.
LexinFintech Holdings Ltd. (NASDAQ: LX) has announced a strategic partnership with Huawei to explore opportunities in the Chinese consumer market. This collaboration will focus on membership services, joint marketing, fintech product development, and buy-now-pay-later services. Lexin aims to leverage its expertise in fintech, while Huawei will contribute its strengths in 5G technology and big data. The partnership is expected to enhance user experiences and broaden service offerings for Chinese consumers.
LexinFintech Holdings Ltd. (NASDAQ: LX) reported strong financial results for Q1 2021, achieving record highs in key metrics. Operating revenue increased to RMB2.94 billion, driven by an 8.9% rise in credit-oriented services income. Net income soared to RMB711 million, reversing a loss of RMB678 million in Q1 2020. Loan originations reached RMB53.8 billion, up 57.8% year-on-year. The company anticipates total loan originations for 2021 between RMB240 billion and RMB250 billion, reflecting confidence in continued growth.
LexinFintech Holdings Ltd. (NASDAQ: LX) will announce its unaudited financial results for Q1 2021 on June 1, 2021, before the U.S. market opens. The company's management will also host an earnings call at 7:00 AM U.S. Eastern time to discuss these results. Interested participants can register online for the call and will receive necessary information post-registration. Lexin provides a comprehensive consumer finance platform in China, integrating technology-driven services in financial technology, membership benefits, and ecommerce.
LexinFintech Holdings Ltd. (NASDAQ: LX) announced the resignation of CFO Craig Yan Zeng, effective June 7, 2021, due to personal reasons. He will remain on the Board and serve as a senior consultant. Kris Qiao Qian, currently Chief Financing Cooperation Officer, will act as CFO until a permanent replacement is found. The company has also welcomed Beryl Haiyan He to its Finance Division to oversee internal controls. Zeng will remain to supervise the upcoming Q1 2021 earnings report.