Lexin’s profit jump masks slowdown in its main loan business
The company reported a big net income increase for the first quarter, but its revenue fell on sluggishness in its loan facilitation business Key Takeaways: Lexin’s net profit doubled in…
China’s Economic Slump Leaves Internet Lenders Battling Bad Loans
360 DigiTech, FinVolution and Lexin all reported first-quarter net profit declines and growing delinquent loans, amid a grim outlook for China’s economy Key takeaways: • 360 DigiTech and FinVolution posted…
Qudian Sees Food for Growth in Prepared Meals, Weighs Exit of Core Lending Business
The former fintech pioneer’s stock fell more than 10% after it announced a potential wind down of its original credit business as well as a new foray into ready-made meal…
FinVolution Emerging as Fintech Lending Leader After Industry Makeover
Direct lender-turned-loan facilitator reported better results for 2021 than two of its peers that also released earnings last week, sparking a 30% jump in its shares Key Takeaways: • FinVolution,…
Xiaobai Maimai Eyes Cancer Treatment as E-Commerce Pivot Sputters
Former P2P lender’s stock soared up to tenfold after announcement of latest shift, but later gave up much of the gains Key Takeaways: Xiaobai Maimai, the former P2P lender known…
FinVolution Tests Regulatory Tolerance With First Asset-Backed Securities Issue
Online loan facilitator issues 200 million yuan worth of ABS months after Ant Group scrapped plan for much larger similar offering Key Takeaways: • Online loan facilitator FinVolution has issued…
Lexin Slows Down Lending as Latest Regulatory Wave Rocks Fintechs
Company scales back 2021 loan facilitation goals amid latest talk that Beijing could sharply lower interest rate cap for personal loans Key Takeaways: • LexinFintech is voluntarily slowing down its…
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