BRIEF: LexinFintech’s revenue drops in third quarter
Online lender LexinFintech Holdings Ltd. (LX.US) said on Monday its revenue fell 6.7% year-on-year in the third quarter to 3.42 billion yuan ($481 million), as its core credit facilitation services that account for about three-quarters of its revenue dropped 11.9%.
Despite the revenue decline, the company reported its profit for the quarter rose 68.4% year-on-year to 521 million yuan.
“In the third quarter, we efficiently completed our business adjustments and have smoothly transitioned our operations to comply with the new regulatory requirements,” said Chairman Xiao Wenjie. “Effective Oct. 1, 2025, all new loans originated have been priced at or below an annual interest rate of 24%.”
LexinFintech’s shares rose 8.2% on Monday after the results were announced to close at $3.78. The stock has lost more than half of its value from a peak in late March, and is down 35% for the year.
By Doug Young
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