On March 21, Beijing time, Lexin, China's leading new consumer digital technology service provider $LexinFintech(LX.US)$ Unaudited financial results for the fourth quarter and full year of 2023 were announced. In the current macroeconomic environment and industry environment, Lexin adheres to the two-wheel drive of risk and data, and achieves steady development: fourth quarter revenue of 3.5 billion yuan, up 15.1% year on year; annual revenue of 13.1 billion yuan, up 32% year on year; annual profit (non-GAAP EBIT) of 1.8 billion yuan, up 41.1% year on year. We achieved double-digit growth in both revenue and profit for the full year of 2023.
In terms of scale, the fourth quarter transaction volume was 61.2 billion yuan, up 9% year on year; annual transaction volume was 249.5 billion yuan, up 21.9% year on year; managed loan balance was 124 billion yuan, up 24.5% year on year; number of users was 210 million, up 10.9% year on year; new authorized users and new active users increased by 41% and 51.8% year on year respectively, and corresponding single customer acquisition costs decreased by 28% and 33.1% year on year, respectively.
In terms of financial cooperation, a number of high-quality financial institution partners were introduced during the quarter, and a steady capital structure composed of national joint stock banks, trillion-level urban commercial banks, and urban commercial banks and agricultural commercial banks spread all over the country was gradually formed. Capital costs fell by 20 BP from the third quarter to another record low.
In terms of risk management, Lexin further improved the risk framework in the fourth quarter,...

November 23, Beijing time, China's leading new consumer digital technology service provider $LexinFintech(LX.US)$ (NASDAQ: LX) released financial results for the third quarter of 2023: Under the current industry environment and macroeconomic environment, the company adheres to a two-wheel strategy of risk and data, and adheres to the principles of prudent management, and recorded another steady quarterly performance growth: revenue for the third quarter was 3.51 billion yuan (RMB, same below), up 30.4% year on year; profit (non-GAAP EBIT) was 527 million yuan, up 30% year on year.
In the third quarter, Lexin's unique ecological advantages began to show: the mathematical business achieved rapid growth, and the cooperative transaction volume increased 59% over the previous month; the scenario e-commerce business continued to grow for several quarters, and GMV increased by 12.8% year-on-year. During the recent Double 11 promotion period, e-commerce order placement users increased 37% year over year, driving the turnover of high-quality active users in the consumer finance business to increase by about 12.4% over the same period last month.
In the third quarter, based on the challenges brought about by uncertainty in the macroeconomic environment, the company appropriately tightened risk strategies to balance growth and quality to ensure steady business growth. Financial data showed that the transaction volume in the third quarter reached 63.3 billion yuan, an increase of 13% over the previous year; the management loan balance increased to 120.7 billion yuan, an increase of 28% over the previous year; and the number of users increased 11.3% year on year.
Financial reports show that in the third quarter, with refined operations...