Lexinfintech Holdings Ltd. · NASDAQ:LX
Lexinfintech — Q4 2024 Earnings Presentation
24 slides from Lexinfintech's earnings presentation, 2025
Slide 1: Investor Presentation Fourth Quarter 2024 Results
Investor Presentation Fourth Quarter 2024 Results
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by LexinFintech Holdings Ltd (the “Company”) pursuant to Section 5(d) of the U.S. Securities Act of 1933, as amended (the “Securities Act”) solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell
Slide 3: Company Overview
01 Company Overview
Slide 4: Addressing the Market with Different Focuses
Addressing the Market with Different Focuses Core business supported by new growth opportunities Tech- Installment Credit Facilitation Empowerment E-commerce Service Service Platform Service 01
Slide 5: Commitment to 2C2B2F
Commitment to 2C2B2F Connecting consumers to business and financial institutions 2B&2F 2C (Business and Financial Institutions) (Consumers) • 173 funding partners1 • ~228 million registered users1 1. As of December 31, 2024, or accumulative 02
Slide 6: A Seamless Experience for New-Generation Consumers
A Seamless Experience for New-Generation Consumers Omni-channels and multiple access for our users Consumer credit Maiya E-commerce 03
Slide 7: Empowering the Digitalization of Financial Institutions
Empowering the Digitalization of Financial Institutions Supporting financial institutions in building in-house capabilities and competitiveness Local Fintech deployment upgrade Channel co-building Digital infrastructure Product design Quality assets Risk management Operational efficiency Customer ma
Slide 8: Priorities Unchanged in Execution
Priorities Unchanged in Execution Staying compliant and competitive • Self-examination following the • Enhanced risk identification and same requirements as the 13 modeling platforms Risk • Dynamic credit approval process Compliance • Constant dialogue with regulators Management • Effective matching
Slide 9: Optimize Customer Development Strategy to Deal with External Uncertainty
Optimize Customer Development Strategy to Deal 工作不足 with External 明年计划 Uncertainty Premium Customer Focused • Increase the mix of premium customers & control the access of high-risk customers • Strike a balance between scale and risk • Stable risk performance & high quality of new loan originations
Slide 10: Core Capabilities of Lexin
Core Capabilities of Lexin Customer Service and Risk Management A Operation A • Rich internal data & high-quality B external data • Customer operation by segment • Model upgrade • Customer profile and credit • AB Testing identification • Tailor-made products and services D B Technology and Data Coop
Slide 11: Lexin Smart Business Engine
Lexin Smart Business Engine Credit Application Approving Smart Business Alert Engine Customer Label Transaction Acquisition Summa- rize Acquisition Promoting Process Auto-Matching & Connecting Simulate IDSS Big Data Verify Insight Post Lending Collection & Quality Controlling 08
Slide 12: Lexin Eco-System
Lexin Eco-System Acquiring high-quality customers through multi-scenarios Huge funding pool & diverse consumption Larger scale & higher scenarios Lexin profitability Eco-System Empowering financial institutions Rich data, optimized models and merchants & technology capabilities LePartner 09
Slide 13: Operational and Financial Data
02 Operational and Financial Data
Slide 14: 4Q24 Highlights
4Q24 Highlights Loan origination Net income Non-GAAP Net income 52.0 billion 363 million 391 million up 1.9% QoQ up 17.2% QoQ up 17.4% QoQ 10
Slide 15: Key Financials
Key Financials (RMB 000) 4Q23 3Q24 4Q24 QoQ YoY Credit facilitation service income 2,727,020 2,970,294 2,712,066 -8.7% -0.5% Tech-empowerment service income 426,882 383,592 601,693 56.9% 41.0% Installment e-commerce platform service income 355,534 308,257 345,074 11.9% -2.9% Total operating revenue
Slide 16: User Base
User Base Registered Users Cumulative Users (mn) (mn) QoQ QoQ +2.0% +2.1% 228 33.8 223 33.1 219 32.5 215 32.0 31.5 210 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 12
Slide 17: Volume & Balance
Volume & Balance Loan Origination Loan Balance (RMB bn) (RMB bn) QoQ QoQ +1.9% -0.9% 61.2 58.0 124.0 51.1 51.0 52.0 121.5 115.2 111.2 110.3 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 1. Loan originations represent the total principal amount of loans facilitated and originated during each peri
Slide 18: Revenue and Operating Expenses
Revenue and Operating Expenses Operating Revenue Operating Expenses (RMB mn) (RMB mn) QoQ QoQ -0.1% +5.1% 674 642 711 676 711 3,509 3,242 3,641 3,662 3,659 16% 14% 14% 13% 13% 10% 7% 12% 8% 9% 11% 10% 12% 15% 16% 20% 21% 20% 22% 21% 78% 82% 81% 73% 74% 64% 65% 66% 65% 65% 4Q23 1Q24 2Q24 3Q24 4Q24 4Q
Slide 19: Profit
Profit Net Profit1 Net Margin1 (RMB mn) QoQ QoQ +17.2% +1.4ppt 363 9.9% 310 8.5% 236 227 6.7% 202 6.2% 6.2% 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 1. Excluding after-tax impact of investment-related impairment losses. 15
Slide 20: Risk Performance
Risk Performance Delinquency Ratio (90 days +) First Payment Default 30+1 (RMBm) 1.2% 3.7% 3.7% 3.6% 1.0% 0.8% 2.9% 3.0% 0.6% 2.7% 2.5% 2.6% 0.4% 0.2% 0.0% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Jan 2023 Apr 2023 Jul 2023 Oct 2023 Jan 2024 Apr 2024 Jul 2024 Oct 2024 1. Loans facilitated under ICP a
Slide 21: Appendix
Appendix
Slide 22: P&L Statement
P&L Statement For the Three Months Ended December 31, (In thousands, except for share and per share data) 2023 2024 RMB RMB US$ Operating revenue: Credit facilitation service income 2,727,020 2,712,066 371,552 Loan facilitation and servicing fees-credit oriented 1,558,588 1,624,410 222,543 Guarantee
Slide 23: Balance Sheet (1)
Balance Sheet (1) As of (In thousands) September 30, 2024 December 31, 2024 RMB RMB US$ ASSETS Current assets Cash and cash equivalents 2,153,594 2,254,213 308,826 Restricted cash 1,431,783 1,638,479 224,471 Restricted term deposit and short-term investments 266,512 138,497 18,974 Short-term financi
Slide 24: Balance Sheet (2)
Balance Sheet (2) As of (In thousands) September 30, 2024 December 31, 2024 RMB RMB US$ LIABILITIES Current liabilities Accounts payable 32,215 74,443 10,199 Amounts due to related parties 12,358 10,927 1,497 Short-term borrowings 552,589 690,772 94,635 Short-term funding debts 2,972,938 2,754,454 3
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