Core Viewpoint - The significant increase in Lexin's stock price is primarily driven by its robust Q3 2025 performance and relatively low overall valuation [2][3]. Financial Performance - In Q3 2025, Lexin's total asset 90+ delinquency rate decreased by 15 basis points quarter-over-quarter and by 74 basis points year-over-year, indicating a steady improvement in overall asset quality [3]. - Lexin's net profit margin was 2%, reflecting a quarter-over-quarter increase of 9 basis points and a year-over-year increase of 92 basis points, marking seven consecutive quarters of improvement since Q4 2023 [3]. - The transaction volume for consumer goods in the installment e-commerce segment saw a significant increase of 58.5% quarter-over-quarter and 133.8% year-over-year [3]. Shareholder Returns - Lexin has increased its dividend payout to $0.194 per ADS, representing a 76% increase compared to the second half of 2024, with the dividend rate raised from 25% to 30% of net profit [3][4]. - The company has executed over half of its $50 million stock repurchase plan and $10 million management buyback plan, which, along with the increased dividends, is expected to enhance shareholder return rates to approximately 14% [4]. Valuation Metrics - Lexin's current price-to-earnings (PE) ratio is below 4 times, and its price-to-book (PB) ratio is 0.41 times, both of which are lower than industry peers [4].