Summary by Moomoo AI
LexinFintech reported Q2 2024 results with total operating revenue of RMB3.6 billion, up 19.1% YoY and 12.3% QoQ. Net income reached RMB227 million, a 12.4% increase QoQ. Total loan originations were RMB51.1 billion, down 20.1% YoY, reflecting controlled growth amid soft consumer demand.Credit facilitation service income rose 24.9% YoY to RMB2.67 billion, driven by improved risk performance and lower funding costs. Tech-empowerment service income grew 36.5% YoY to RMB535 million. The 90-day+ delinquency ratio increased to 3.7% from 3.0% in Q1, though early risk indicators showed signs of improvement extending into July.LexinFintech declared a semi-annual dividend of US$0.072 per ADS. The company remains focused on sustainable growth in both Chinese and overseas markets, with accelerated expansion of its international operations in Q2. Management expressed confidence in navigating challenges and seizing opportunities in the current cautious consumer environment.