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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) has appointed Ms. Annabelle Yu Long to its board of directors, effective August 18, 2020, following the resignation of Mr. Min Xiao. Ms. Long, who is well-versed in consumer finance and technology, will also join the audit committee, succeeding Mr. Xiaoguang Wu. Lexin's CEO, Jay Wenjie Xiao, expressed enthusiasm about Ms. Long's appointment, highlighting her diverse expertise. Lexin is a leading online finance platform in China, catering to new generation consumers.
LexinFintech Holdings Ltd. (NASDAQ: LX) will report its unaudited financial results for the second quarter ending June 30, 2020, on August 18, 2020, before U.S. market opens. A conference call is scheduled for the same day at 7:00 AM ET (7:00 PM Beijing/Hong Kong). Participants are encouraged to register online to receive dial-in information. Lexin provides consumer finance and e-commerce services for educated young professionals in China, utilizing advanced technologies for risk management and loan facilitation.
LexinFintech Holdings Ltd. (NASDAQ: LX) reported strong growth in its Q1 2020 financial results, with total loan originations reaching RMB34.1 billion, a 69.5% increase year-over-year. Active users grew significantly to 6.4 million, a 99.1% rise. However, the company faced challenges, with a net loss of RMB678 million, contrasting with a net income of RMB424 million in Q1 2019. Despite a decrease in gross profit by 76.7% to RMB167 million, the company is optimistic about future performance amid improving business conditions.