From Investing.com: 2024-05-26 17:46:34

In the first quarter of 2024, LexinFintech Holdings Ltd. (LX) reported growth in total loan origination and revenue, driven by strategic focus on risk management and expansion. Key figures include RMB 58 billion in total loan origination and RMB 3.2 billion in revenue, with net profit at RMB 202 million. The company aims to enhance risk management and improve performance in the coming months.

Total loan origination grew by 13.5% YoY to RMB 58 billion, with a loan balance of RMB 121.5 billion. Revenue increased by 8.7% YoY to RMB 3.2 billion, while net profit reached RMB 202 million. LexinFintech invested RMB 130 million in R&D and made progress in the Mexican market, with plans for further expansion in Southeast Asia and South America.

LexinFintech’s first quarter performance showcased growth in loan origination and revenue, despite a decline in new loan volume and total revenue. Key areas for improvement include enhancing risk management strategies and asset quality. The company remains optimistic about the second half of the year and expects gradual improvements in overall risk performance.

InvestingPro Insights reveal LexinFintech’s strong start in 2024, with a focus on revenue growth and strategic management. Key metrics include a low Price/Book ratio of 0.22 and a P/E Ratio (Adjusted) of 1.87. The company is poised for profitability and offers potential for value investors in the Consumer Finance sector.

LexinFintech’s Q1 2024 earnings call highlighted the company’s cautious approach amidst industry challenges. Key performance indicators include total loan origination of RMB 58 billion, revenue of RMB 3.2 billion, and net profit of RMB 202 million. Strategic initiatives in risk management and international markets drive the company’s growth trajectory.



Read more at Investing.com: LexinFintech reports steady growth amid risk management efforts By Investing.com