Financials Nov 11, 2021 09:01 AM (GMT+8) · EqualOcean
On November 11, Beijing time, Lexin, China's leading new consumer digital technology service provider, released unaudited financial results for the third quarter of 2021. Thanks to the structural adjustment and the improvement of refined operation capacity, in the third quarter, Lexin had a revenue of 3 billion yuan (RMB) and a profit before interest and tax of 750 million (non GAAP), an increase of 50% year-on-year. While the scale grew steadily, the asset quality remained stable, the overdue rate of more than 90 days was 1.85%, and the structure of new assets was better; The operating efficiency continues to improve, and the proportion of management expenses in the loan balance is the lowest in recent years. Core data: In the third quarter, Lexin added 10 million new users, with an increase of more than 10 million for nine consecutive quarters; By the end of the quarter, the number of Lexin users had reached 154 million, a year-on-year increase of 45%; 35.6 million credit users, a year-on-year increase of 41%; 7.7 million active users; 1.44 million active users were added in the quarter. In the third quarter, the platform contributed to a loan of 55.8 billion yuan, a year-on-year increase of 16%; By the end of the quarter, the balance of loans under platform management was 92.9 billion yuan, a year-on-year increase of 38%; Among them, the credit loan business for small and micro enterprises was 5.2 billion yuan, an increase of 31% month on month. By the end of the third quarter, the overdue rate of more than 90 days was 1.85%; Fpd30 of new borrowings has remained below 1% for 15 consecutive months.