Chinese fintechs look abroad as Nasdaq tightens the screws on penny stocks
"It's pretty much game over in terms of major business opportunity in that sector in China for anybody who would want to come in now." – On how domestic regulatory…
Got change? Lexin’s penny-stock plunge reflects sinking fortunes for China fintechs
The online loan facilitator faces a potential delisting after its American depositary shares traded below $1 for 30 consecutive business days Key Takeaways: Lexin’s American depositary shares could be delisted…
Qfin gets frostbite as fintech winter intensifies
The fintech loan facilitator’s second-quarter profit plunged as a funding squeeze in the wake of two major sector scandals forced it to scale back its business Key Takeaways: Qfin’s net…
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…
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…
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