On May 24, Beijing time, Lexin (NASDAQ: LX), China's leading new consumer digital technology service provider, announced unaudited financial results for the first quarter of 2024. Lexin adheres to the two-wheel drive of risk and data, manages prudently, balances scale and quality, and achieves steady development: revenue for the first quarter was 3.24 billion yuan, an increase of 8.7% over the previous year.
In terms of scale, the transaction volume was 58 billion yuan; the balance of loans under management was 121.51 billion yuan, up 13.5% year on year; number of users was 215 million, up 10.8% year on year.
In terms of asset quality, the Low&Grow newcomer risk management system was launched, the disposal and recovery of stock risk assets was strengthened, and efforts were made to reduce the impact of the macro environment and industry risk cycle. During the quarter, the asset quality of new customers gradually improved. The credit approval rate for new customers increased by more than 30%, the concentration of trustworthy customers increased from 24% in January to 40% in March, and the early risk index FPD30 for new customer assets continued to decline.
In terms of financial cooperation, a number of large national financial institutions were introduced during the quarter, and their share of capital was further increased, driving capital costs down 34 bps month-on-month, to another record low. As capital costs decreased, first-quarter profit (non-GAAP EBIT) was 282 million yuan. In May, the company issued the first international 3A rated ABS, which will further drive the continuous reduction of capital costs in the future.
Lexin CEO Xiao Wenjie said, “One...
In terms of scale, the transaction volume was 58 billion yuan; the balance of loans under management was 121.51 billion yuan, up 13.5% year on year; number of users was 215 million, up 10.8% year on year.
In terms of asset quality, the Low&Grow newcomer risk management system was launched, the disposal and recovery of stock risk assets was strengthened, and efforts were made to reduce the impact of the macro environment and industry risk cycle. During the quarter, the asset quality of new customers gradually improved. The credit approval rate for new customers increased by more than 30%, the concentration of trustworthy customers increased from 24% in January to 40% in March, and the early risk index FPD30 for new customer assets continued to decline.
In terms of financial cooperation, a number of large national financial institutions were introduced during the quarter, and their share of capital was further increased, driving capital costs down 34 bps month-on-month, to another record low. As capital costs decreased, first-quarter profit (non-GAAP EBIT) was 282 million yuan. In May, the company issued the first international 3A rated ABS, which will further drive the continuous reduction of capital costs in the future.
Lexin CEO Xiao Wenjie said, “One...
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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,...
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,...
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北京时间11月23日，中国领先的新消费数字科技服务商 $LexinFintech(LX.US$ （NASDAQ：LX）发布2023年三季度财务业绩：在当前行业环境与宏观经济环境下，公司坚持风险、数据双轮驱动战略，秉持审慎经营原则，录得又一个稳健增长的季度业绩：三季度营收35.1亿元（人民币，下同），同比增长30.4%；利润（Non-GAAP EBIT）5.27亿元，同比增长30%。
三季度，乐信独有的生态优势开始显现：数科业务取得高速增长，合作交易额环比增加59%；场景电商业务连续多个季度取得增长，GMV同比增长12.8%。前不久的双11大促期间，电商下单用户同比增长37%，带动消费金融业务优质活跃用户成交金额环比提升约12.4%。
三季度，基于宏观经济环境不确定性所带来的挑战，公司适当收紧了风险策略来平衡增长和质量，保障了业务稳健增长，财报数据显示，三季度交易额达633亿元，同比增长13%；管理在贷余额增长至1207亿元，同比增长28%；用户数2.04亿，同比增长11.3%。
财报显示，三季度，随着精细化运营...
三季度，乐信独有的生态优势开始显现：数科业务取得高速增长，合作交易额环比增加59%；场景电商业务连续多个季度取得增长，GMV同比增长12.8%。前不久的双11大促期间，电商下单用户同比增长37%，带动消费金融业务优质活跃用户成交金额环比提升约12.4%。
三季度，基于宏观经济环境不确定性所带来的挑战，公司适当收紧了风险策略来平衡增长和质量，保障了业务稳健增长，财报数据显示，三季度交易额达633亿元，同比增长13%；管理在贷余额增长至1207亿元，同比增长28%；用户数2.04亿，同比增长11.3%。
财报显示，三季度，随着精细化运营...
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