J Studios/DigitalVision via Getty Images LexinFintech Holdings Ltd. (NASDAQ:LX) stock is still assigned a Hold rating. LX's Q2 loan origination was weaker than the company's prior guidance, and the chances of a meaningful improvement in LexinFintech's near-term financial performance are low. On the flip side, there are positives pertaining to LX's long-term outlook. The company is deriving a growing proportion of its top line and loans from asset-light businesses and non-China operations, respectively, ...

Exhibit 99.1 LexinFintech Holdings Ltd. Reports Second Quarter 2024 Unaudited Financial Results SHENZHEN, China, August 27, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. ("Lexin" or the "Company") (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended June 30, 2024. "We harvested a healthy set of operational and financial results with improved risk performance for new loans, uplifted net profit fro ...

Financial Data and Key Metrics Changes - In Q2 2024, total GMV of loan origination reached RMB51.1 billion, with a managed loan balance of RMB115.2 billion. Revenue was RMB3.64 billion, reflecting a 12.3% quarter-over-quarter increase, while net profit was RMB230 million, up 12.4% quarter-over-quarter [6][28] - The revenue take rate of the credit business rose to 2.91%, an increase of 37 basis points quarter-over-quarter and 54 basis points year-over-year, despite a 12% quarter-over-quarter decline in loan issuances [29][46] - Funding costs decreased to 5.26%, down 58 basis points quarter-over-quarter and 131 basis points year-over-year, attributed to a relaxed monetary policy and increased demand for high-quality assets [30][48] Business Line Data and Key Metrics Changes - The e-commerce business revenue surged to RMB437 million, up 88.5% quarter-over-quarter, with gross profit rebounding to RMB14 million [33] - Technology-enabled services revenue grew to RMB535 million, up 47.9% quarter-over-quarter, driven by increased GMV in risk-free loans and higher revenue share [34] Market Data and Key Metrics Changes - The overseas business segment, particularly in Mexico, saw loan origination volume increase by 61% and revenue grow by 113% quarter-over-quarter [12] - The risk-free segment of new loans increased from 23% in Q1 to 27.2% in Q2, indicating a growing demand for high-quality assets [31] Company Strategy and Development Direction - The company plans to continue a prudent strategy focusing on risk management while promoting steady growth in scale and enhancing customer acquisition efforts [16][18] - There is an emphasis on leveraging high-frequency consumption scenarios in e-commerce to boost user engagement and retention [17] - The company aims to actively pursue overseas market expansion, particularly in emerging markets, while optimizing asset structure and improving profitability [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the sluggish macroeconomic recovery and low consumer confidence, which influenced their cautious operating strategy [28] - The company anticipates that improvements in risk management capabilities will gradually enhance profitability in the future [11][52] Other Important Information - The company invested RMB143 million in research and development, focusing on AI large models to improve operational efficiency [13] - A cash dividend of approximately US$0.072 per ADS was approved, representing about 20% of total net profit for the first half of 2024 [36] Q&A Session Summary Question: Details on overseas expansion and profitability timeline - Management noted that the overseas business is growing rapidly, with loan origination in Q2 increasing by 60.8%. However, it will take time and investment to scale up and achieve profitability [40][42] Question: Increase in sales and marketing expenses - Management clarified that the increase in expenses is primarily due to investments in overseas markets, while domestic customer acquisition costs remain stable [40][44] Question: Factors driving revenue take rate increase - The significant rise in revenue take rate was attributed to improved operational efficiency, tightened risk standards, and reduced funding costs [46][47] Question: Measures taken to reduce funding costs - Funding costs decreased due to overall market liquidity, high demand for quality assets, and successful ABS issuances [48][49] Question: Expectations for asset quality improvement - Management expects gradual improvements in profitability as risk management upgrades continue, with a focus on leading risk indicators rather than lagging ones like the 90-days delinquency rate [50][53]

SHENZHEN, China, Aug. 27, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended June 30, 2024. "We harvested a healthy set of operational and financial results with improved risk performance for new loans, uplifted net profit from the first quarter of 2024, and controlled loan origination in the second quarter of 2024," said ...

SHENZHEN, China, Aug. 19, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading credit technology-empowered consumer financial service enabler in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2024, after the U.S. market closes on Tuesday, August 27, 2024. The Company’s management will host an earnings conference call at 10:00 PM U.S. Eastern time on August 27, 2024 (10:00 AM Beijing/Hong Kong ...

Investor Presentation First Quarter 2024 Results Disclaimer This presentation has been prepared by LexinFintechHoldings Ltd (the “Company”) pursuant to Section 5(d) of the U.S. Securities Act of 1933, as amended (the “Securities Act”) solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any investmentactivity or trading strategy, nor may it or any part of it form the basis of or be relied on in conne ...

LexinFintech Holdings Ltd. (NASDAQ:LX) Q1 2024 Results Conference Call May 23, 2024 10:00 PM ET Company Participants Mandy Dong - Director, Investor Relations Jay Xiao - Founder, Chairman, and Chief Executive Officer Arvin Qiao - Chief Risk Officer James Zheng - Chief Financial Officer Conference Call Participants Frank Zheng - UBS Yada Li - CICC Zoe Zou - CLSA Operator Good day, and thank you for standing by. Welcome to LexinFintech First Quarter 2024 Earnings Conference Call. [Operator Instructions] Pleas ...

SHENZHEN, China, May 23, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. ("Lexin" or the "Company") (NASDAQ:LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended March 31, 2024. "In the first quarter of 2024, Lexin reported total loan origination of RMB58.0 billion, a decrease of 4.8% year-over-year, reflecting a strategy of controlled growth. The outstanding loan balance grew by 13.5% to RMB122 billion on a ...

SHENZHEN, China, May 23, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended March 31, 2024. “In the first quarter of 2024, Lexin reported total loan origination of RMB58.0 billion, a decrease of 4.8% year-over-year, reflecting a strategy of controlled growth. The outstanding loan balance grew by 13.5% to RMB122 billion on ...

SHENZHEN, China, May 17, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. ("Lexin" or the "Company") (NASDAQ:LX), a leading credit technology-empowered consumer financial service enabler in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024, after the U.S. market closes on Thursday, May 23, 2024. The Company's management will host an earnings conference call at 10:00 PM U.S. Eastern time on May 23, 2024 (10:00 AM Beijing/Hong Kong time on ...