Continued strong growth is expected with no
substantial deterioration in asset quality
SHENZHEN, China, Jan. 15, 2020 /PRNewswire/ -- LexinFintech
Holdings Ltd. ("Lexin" or the "Company") (Nasdaq: LX), a leading
online consumer finance platform for educated young adults in
China, is pleased to announce that
based on the Company's preliminary assessment of the current
business and market conditions, the Company expects total loan
originations for the fiscal year 2020 to be between RMB 170 billion and RMB
180 billion. This is Lexin's current and preliminary view,
which is subject to changes and uncertainties.
"We have stepped up efforts in the past year to provide our
customers with a wide range of consumption services, including
consumer finance, membership benefits and a point redemption
system, to connect our customers with various consumption scenarios
both online and offline," said Mr. Jay
Wenjie Xiao, Lexin's chairman and chief executive officer.
"These efforts to cater to our customers' consumption needs have
ensured our ability to continue our strong growth trajectory, and
we believe that we will again be able to deliver strong results for
our shareholders in 2020 based on what we see in the markets
today."
"All operations and metrics are currently very strong, and we
continue to acquire many new customers while growing with our
existing customers," said Mr. Craig Yan
Zeng, Lexin's chief financial officer. "As a result, we are
confident in our ability to grow for the year, and pleased to
announce our guidance for 2020."
"Credit performance and credit quality continues to be stable,
and we do not see any material credit risks," said Mr. Ryan Huanian
Liu, Lexin's chief risk officer. "There may be some fluctuations in
our credit statistics due to the fact that we now have many more
new customers, but the overall asset quality and trends continue to
be well within our range of expectations, and we expect credit
quality to be relatively stable for 2020."
About LexinFintech Holdings Ltd.
LexinFintech Holdings Ltd. is a leading online consumer finance
platform for educated young adults in China. As one of China's leading financial technology
companies, Lexin integrates its e-commerce-driven installment
finance platform, Fenqile, with advanced risk management
technologies, and the Company's Dingsheng asset distribution
technology platform, to create a comprehensive consumer finance
ecosystem. The Company utilizes technologies including big data,
cloud computing and artificial intelligence to enable the
near-instantaneous matching of users funding requests with offers
from the Company's more than 30 funding partners, which include
commercial banks, consumer finance companies, and other licensed
financial institutions.
For more information, please visit http://ir.lexin.com
To follow us on Twitter, please go to:
https://twitter.com/LexinFintech.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency, business outlook and quotations from management in
this announcement, contain forward-looking statements. Lexin may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission
(the "SEC"), in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Lexin's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Lexin's goal
and strategies; Lexin's expansion plans; Lexin's future business
development, financial condition and results of operations; Lexin's
expectation regarding demand for, and market acceptance of, its
credit and investment management products; Lexin's expectations
regarding keeping and strengthening its relationship with
borrowers, institutional funding partners, merchandise suppliers
and other parties it collaborates with; general economic and
business conditions; and assumptions underlying or related to any
of the foregoing. Further information regarding these and other
risks is included in Lexin's filings with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Lexin does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
LexinFintech Holdings Ltd.
IR inquiries:
Tony Hung
Tel: +86 (755) 3637-8888 ext. 6258
E-mail: IR@lexin.com
Media inquiries:
Limin Chen
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: liminchen@lexin.com
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SOURCE LexinFintech Holdings Ltd.