On May 24th, Beijing time, Lexinfintech, China's leading digital technology service provider for new consumer consumption (NASDAQ: LX), released its unaudited financial performance for the first quarter of 2024. Lexinfintech adheres to the dual driving force of risk and data, operates cautiously, balances scale and quality, and achieves steady development. In the first quarter, the company's revenue was 3.24 billion yuan, an 8.7% increase year-on-year.
In terms of scale, the transaction volume was 58 billion yuan, the on-loan balance was 121.51 billion yuan, a 13.5% increase year-on-year, and the number of users was 0.215 billion, a 10.8% increase year-on-year.
In terms of asset quality, the Low&Grow new customer risk management system was launched, efforts were made to strengthen the disposal and recovery of stock risk assets, and the impact of macroeconomic and industry risk cycles was reduced. In 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 good customers using credit increased from 24% in January to 40% in March, and the early risk indicator FPD30 for new customer assets continued to decline.
In terms of funding cooperation, Lexinfintech introduced several national large-scale financial institutions during the quarter, further increasing the proportion of funds and driving down funding costs by 34 basis points (bp), reaching a new historical low. With the reduction of funding costs, the company's profit (Non-GAAP EBIT) in the first quarter was 0.282 billion yuan. In May, the company issued its first international 3A-rated ABS, which will further promote the continuous reduction of funding costs.
Shi Wenzhuo, CEO of Lexinfintech, said, 'In the first quarter, we implemented four measures: risk control, refined operation for different customer groups, promotion of ecological business, and reduction of funding costs. Through cautious operation and consolidation of underlying capabilities, we achieved stable development against the macroeconomic and industry challenges. Looking ahead to the second quarter, we will continue to adhere to the principle of cautious operation, prioritize risk management, continuously improve profitability, and achieve higher quality development.'
In terms of scale, the transaction volume was 58 billion yuan, the on-loan balance was 121.51 billion yuan, a 13.5% increase year-on-year, and the number of users was 0.215 billion, a 10.8% increase year-on-year.
In terms of asset quality, the Low&Grow new customer risk management system was launched, efforts were made to strengthen the disposal and recovery of stock risk assets, and the impact of macroeconomic and industry risk cycles was reduced. In 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 good customers using credit increased from 24% in January to 40% in March, and the early risk indicator FPD30 for new customer assets continued to decline.
In terms of funding cooperation, Lexinfintech introduced several national large-scale financial institutions during the quarter, further increasing the proportion of funds and driving down funding costs by 34 basis points (bp), reaching a new historical low. With the reduction of funding costs, the company's profit (Non-GAAP EBIT) in the first quarter was 0.282 billion yuan. In May, the company issued its first international 3A-rated ABS, which will further promote the continuous reduction of funding costs.
Shi Wenzhuo, CEO of Lexinfintech, said, 'In the first quarter, we implemented four measures: risk control, refined operation for different customer groups, promotion of ecological business, and reduction of funding costs. Through cautious operation and consolidation of underlying capabilities, we achieved stable development against the macroeconomic and industry challenges. Looking ahead to the second quarter, we will continue to adhere to the principle of cautious operation, prioritize risk management, continuously improve profitability, and achieve higher quality development.'
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Lexin 2024Q1 EarningsConference Call
May 23 21:00
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Lexinfintech, the leading new consumer digital technology service provider in China, at Beijing time on March 21st. $LexinFintech (LX.US)$ Released the unaudited financial performance for the fourth quarter and full year of 2023. In the current macroeconomic and industry environment, Lexinfintech adheres to risk and data dual-driven, prudent operation, and achieves steady development: revenue in Q4 was 3.5 billion yuan, a 15.1% year-on-year increase; full-year revenue was 13.1 billion yuan, a 32% year-on-year increase; full-year profit (Non-GAAP EBIT) was 1.8 billion yuan, a 41.1% year-on-year increase. Both revenue and profit for the full year of 2023 achieved double-digit growth.
In terms of scale, the transaction volume in Q4 was 61.2 billion yuan, a 9% year-on-year increase; the annual transaction volume was 249.5 billion yuan, a 21.9% year-on-year increase; the managed loan balance was 124 billion yuan, a 24.5% year-on-year increase; the number of users was 0.21 billion, a 10.9% year-on-year increase; the number of new credit users, and new active users increased by 41% and 51.8% respectively, with corresponding single customer acquisition costs decreasing by 28% and 33.1% year-on-year.
In terms of funding cooperation, during the quarter, Lexinfintech introduced several high-quality financial institution partners, gradually forming a stable funding structure consisting of national joint-stock banks, trillion-level city commercial banks, city commercial banks, and rural commercial banks spread all over the country. The funding cost decreased by 20 basis points compared to the third quarter, hitting a historic low.
In terms of risk management, lexinfintech further improved the risk framework in the fourth quarter, ...
In terms of scale, the transaction volume in Q4 was 61.2 billion yuan, a 9% year-on-year increase; the annual transaction volume was 249.5 billion yuan, a 21.9% year-on-year increase; the managed loan balance was 124 billion yuan, a 24.5% year-on-year increase; the number of users was 0.21 billion, a 10.9% year-on-year increase; the number of new credit users, and new active users increased by 41% and 51.8% respectively, with corresponding single customer acquisition costs decreasing by 28% and 33.1% year-on-year.
In terms of funding cooperation, during the quarter, Lexinfintech introduced several high-quality financial institution partners, gradually forming a stable funding structure consisting of national joint-stock banks, trillion-level city commercial banks, city commercial banks, and rural commercial banks spread all over the country. The funding cost decreased by 20 basis points compared to the third quarter, hitting a historic low.
In terms of risk management, lexinfintech further improved the risk framework in the fourth quarter, ...
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Lexin 2023Q4&Full Year Earnings Conference Call
Mar 20 21:00
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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Lexin 2023Q3 Earnings Conference Call
Nov 22 20:00
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