revenue 3,508,935 3,662,143 521,851 9,547,646 10,544,761 1,502,616
----------- ----------- ----------- ----------- ----------- -----------
Operating cost
Cost of sales (359,683) (308,097) (43,903) (1,291,547) (966,777) (137,765)
Funding cost (131,640) (87,717) (12,500) (437,674) (268,980) (38,329)
Processing and
servicing cost (445,845) (602,362) (85,836) (1,420,946) (1,708,785) (243,500)
Provision for
financing
receivables (161,807) (261,126) (37,210) (446,586) (568,783) (81,051)
Provision for
contract assets
and
receivables (159,443) (243,725) (34,731) (426,631) (564,445) (80,433)
Provision for
contingent
guarantee
liabilities (894,174) (951,738) (135,622) (2,269,269) (2,714,808) (386,857)
----------- ----------- ----------- ----------- ----------- -----------
Total operating cost (2,152,592) (2,454,765) (349,802) (6,292,653) (6,792,578) (967,935)
----------- ----------- ----------- ----------- ----------- -----------
Gross profit 1,356,343 1,207,378 172,049 3,254,993 3,752,183 534,681
----------- ----------- ----------- ----------- ----------- -----------
Operating expenses:
Sales and
marketing
expenses (410,651) (437,996) (62,414) (1,303,728) (1,323,036) (188,531)
Research and
development
expenses (126,582) (148,930) (21,222) (377,447) (427,162) (60,870)
General and
administrative
expenses (85,526) (88,952) (12,676) (279,082) (279,146) (39,778)
----------- ----------- ----------- ----------- ----------- -----------
Total operating
expenses (622,759) (675,878) (96,312) (1,960,257) (2,029,344) (289,179)
----------- ----------- ----------- ----------- ----------- -----------
Change in fair
value of
financial
guarantee
derivatives and
loans at fair
value (245,568) (151,431) (21,579) 41,158 (835,615) (119,074)
Interest
expense, net (14,354) (4,531) (646) (40,238) (6,447) (919)
Investment loss (568) (2,224) (317) (1,107) (1,874) (267)
Others, net 13,010 8,406 1,198 29,866 44,434 6,332
----------- ----------- ----------- ----------- ----------- -----------
Income before income
tax expense 486,104 381,720 54,393 1,324,415 923,337 131,574
----------- ----------- ----------- ----------- ----------- -----------
Income tax
expense (115,479) (72,163) (10,283) (270,567) (185,626) (26,451)
----------- ----------- ----------- ----------- ----------- -----------
Net income 370,625 309,557 44,110 1,053,848 737,711 105,123
----------- ----------- ----------- ----------- ----------- -----------
Net income
attributable to
ordinary
shareholders of the
Company 370,625 309,557 44,110 1,053,848 737,711 105,123
----------- ----------- ----------- ----------- ----------- -----------
Net income per
ordinary share
attributable to
ordinary
shareholders of the
Company
Basic 1.13 0.93 0.13 3.21 2.23 0.32
Diluted 1.10 0.92 0.13 3.06 2.22 0.32
Net income per ADS
attributable to
ordinary
shareholders of the
Company
Basic 2.25 1.87 0.27 6.42 4.46 0.64
Diluted 2.20 1.84 0.26 6.12 4.44 0.63
Weighted average
ordinary shares
outstanding
Basic 328,993,585 331,356,003 331,356,003 328,524,266 330,806,594 330,806,594
Diluted 355,221,352 336,606,267 336,606,267 364,767,295 335,151,610 335,151,610
LexinFintech Holdings Ltd.
Unaudited Condensed Consolidated Statements of Comprehensive
Income
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
(In thousands) 2023 2024 2023 2024
-------- ------------------- --------- -------------------
RMB RMB US$ RMB RMB US$
Net income 370,625 309,557 44,110 1,053,848 737,711 105,123
Other
comprehensive
income
Foreign
currency
translation
adjustment,
net of nil
tax 38 (5,424) (773) (20,544) (16,655) (2,373)
------- ------- --------- --------- ------- ---------
Total
comprehensive
income 370,663 304,133 43,337 1,033,304 721,056 102,750
------- ------- --------- --------- ------- ---------
Total
comprehensive
income
attributable to
ordinary
shareholders of
the Company 370,663 304,133 43,337 1,033,304 721,056 102,750
======= ======= ========= ========= ======= =========
LexinFintech Holdings Ltd.
Unaudited Reconciliations of GAAP and Non-GAAP Results
For the Three Months Ended September For the Nine Months Ended September
30, 30,
(In thousands,
except for share
and per share
data) 2023 2024 2023 2024
------------ ------------------------ ----------- ------------------------
RMB RMB US$ RMB RMB US$
Reconciliation
of Adjusted net
income
attributable to
ordinary
shareholders of
the Company to
Net income
attributable to
ordinary
shareholders of
the Company
Net income
attributable to
ordinary
shareholders of
the Company 370,625 309,557 44,110 1,053,848 737,711 105,123
Add: Share-based
compensation
expenses 26,237 20,986 2,990 84,893 67,379 9,601
Interest expense
associated with
convertible
notes 19,791 - - 61,864 5,695 812
Investment loss 568 2,224 317 1,107 1,874 267
----------- ----------- ----------- ----------- ----------- -----------
Adjusted net
income
attributable to
ordinary
shareholders of
the Company 417,221 332,767 47,417 1,201,712 812,659 115,803
=========== =========== =========== =========== =========== ===========
Adjusted net
income per
ordinary share
attributable to
ordinary
shareholders of
the Company
Basic 1.27 1.00 0.14 3.66 2.46 0.35
Diluted 1.17 0.99 0.14 3.29 2.42 0.35
Adjusted net
income per ADS
attributable to
ordinary
shareholders of
the Company
Basic 2.54 2.01 0.29 7.32 4.91 0.70
Diluted 2.35 1.98 0.28 6.59 4.85 0.69
Weighted average
shares used in
calculating net
income per
ordinary share
for non-GAAP
EPS
Basic 328,993,585 331,356,003 331,356,003 328,524,266 330,806,594 330,806,594
Diluted 355,221,352 336,606,267 336,606,267 364,767,295 335,151,610 335,151,610
Reconciliations
of Non-GAAP EBIT
to Net income
Net income 370,625 309,557 44,110 1,053,848 737,711 105,123
Add: Income tax
expense 115,479 72,163 10,283 270,567 185,626 26,451
Share-based
compensation
expenses 26,237 20,986 2,990 84,893 67,379 9,601
Interest expense,
net 14,354 4,531 646 40,238 6,447 919
Investment loss 568 2,224 317 1,107 1,874 267
----------- ----------- ----------- ----------- ----------- -----------
Non-GAAP EBIT 527,263 409,461 58,346 1,450,653 999,037 142,361
=========== =========== =========== =========== =========== ===========
Additional Credit Information
Vintage Charge Off Curve(1)
Dpd30+/GMV by Performance Windows(1)
First Payment Default 30+(1)
1. Loans facilitated under ICP are excluded from the chart.
(END) Dow Jones Newswires
November 25, 2024 18:00 ET (23:00 GMT)
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