On November 26, Beijing time, US listed fintech company Lexin released its unaudited financial results for the third quarter of 2024. The company's revenue was 3.66 billion yuan and its profit (Non GAAP EBIT) was 409 million yuan, an increase of 33.2% compared to the previous quarter.
In terms of risk management, high-quality assets accounted for over 75% of the newly added assets in the third quarter, and the early risk indicator FPD7 decreased by about 13% month on month; The market's call in rate decreased by about 9% compared to the second quarter.
In terms of assisting small and micro enterprises, in the third quarter, Lexin launched the "Believe in Small Dreams" inclusive finance support plan worth billions. At present, the plan has been deeply implemented in provinces such as Guangdong, Zhejiang, Shaanxi, and Hebei.
In terms of technological research and development, LeXin invested 149 million yuan in R&D in the third quarter, a year-on-year increase of 17.7%, continuing to maintain industry leadership, further consolidating LeXin's risk and technological capabilities, and injecting surging momentum into the dual wheel drive strategy.
According to another disclosure, in order to better fulfill its shareholder return commitment, Lexin has decided to increase its dividend payout on the basis of continuing to distribute dividends twice a year (the first half of the year dividend was already distributed in October). Approved by the board of directors, starting from 2025, the dividend ratio of Lexin will increase from the current 20% of net profit to 25%.
Xiao Wenjie, CEO of Lexin, said, "Over the past year, we have operated prudently, continuously strengthened our risk management capabilities, focused on high-quality customer groups, and promoted the improvement of our company's refined operational capabilities, making significant progress. The company's overall assets are healthier and its structure is better. Looking ahead, we will continue to adhere to the principle of prudent operation, strengthen risk management, focus on high-quality growth, increase investment in consumer scenarios, and create differentiated competitive advantages. By 2025, we are confident in the continuous improvement of asset quality and accelerated recovery of profits