Continued Strong Growth Is Expected With No Substantial Deterioration in Asset Quality
LexinFintech Holdings Ltd., 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.
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“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.”
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“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.”
