Core Insights - Lexin's Q1 2021 financial performance shows significant growth in revenue, profit, and user base, indicating strong operational momentum [1] Financial Performance - Lexin reported Q1 2021 revenue of 2.9 billion yuan, with a gross profit of 1.37 billion yuan and an adjusted net profit of 771 million yuan, reflecting a quarter-on-quarter growth of 27.9% [1] - The company's EBITDA reached 911 million yuan, marking a quarter-on-quarter increase of 29.4% [1] Service Revenue - The pure technology platform service revenue for Q1 2021 was 636 million yuan, representing a year-on-year growth of 122% [1] - The newly launched "Buy Duck" product generated a transaction volume of 60 million yuan, with a cumulative service user count of 510,000 and merchant count of 1,575, totaling a transaction volume of 237 million yuan by the end of May [1] User Metrics - Lexin added 14 million new users in Q1 2021, bringing the total user base to 132 million, a year-on-year increase of 56.5% [1] - The number of credit users reached 30.3 million, up 46.5% year-on-year, with 1.8 million new active users added in the quarter, reflecting an 88% year-on-year growth [1] Loan Performance - The total loan amount facilitated by Lexin in Q1 2021 was 53.8 billion yuan, a year-on-year increase of 57.8% [1] - As of the end of Q1, the platform managed a loan balance of 82.4 billion yuan, up 40.8% year-on-year [1] - The overdue rate for loans over 90 days stood at 1.84%, with the first payment default rate remaining below 1% for eight consecutive months [1]