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…
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,…
