From GlobeNewswire: 2024-11-25 18:00:00

LexinFintech Holdings Ltd. announced unaudited financial results for Q3 2024, with a stable loan origination of RMB51.0 billion. Despite a decrease in loan volume, net profit increased by 36.7% to RMB310 million. The company remains committed to delivering solid results amid economic uncertainties. Improved profitability and business turnaround are key highlights.

Operational highlights for Q3 2024 include a user base of 223 million, with 44.1 million users having credit lines. Loan facilitation business saw RMB1,273.2 billion in loans originated. Credit performance showed a 3.7% delinquency ratio and a first payment default rate below 1%.

Financially, Q3 2024 saw total operating revenue of RMB3.7 billion, with net profit of RMB310 million, a 36.7% increase from the previous quarter. Adjusted net income reached RMB333 million. The company approved an amended dividend payout policy, increasing the payout ratio to 25% of net profit starting in 2025.

The company’s balance sheet for Q3 2024 showed total assets of RMB22.5 billion, with current assets of RMB18.2 billion and non-current assets of RMB4.3 billion. Total liabilities were RMB12.1 billion, with shareholders’ equity at RMB10.4 billion. Operating revenue for Q3 2024 increased by 4.4% compared to the same period in 2023. Total comprehensive income was RMB304.1 million.

Adjusted net income per ordinary share for Q3 2024 was RMB1.00, while adjusted net income per ADS was RMB2.01. Non-GAAP EBIT was RMB409.5 million. The company remains focused on technology-empowered financial services, with a commitment to providing value to shareholders and navigating economic uncertainties.

For more information, visit LexinFintech Holdings Ltd.’s investor relations website at http://ir.lexin.com. Follow them on Twitter at https://twitter.com/LexinFintech.



Read more at GlobeNewswire:: LexinFintech Holdings Ltd. Reports Third Quarter 2024