The following is a summary of the LexinFintech Holdings Ltd. (LX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• LexinFintech reported total loan origination of RMB 58 billion, and a loan balance standing at RMB 121.5 billion for Q1 2024, representing a year-on-year growth of 13.5%.

• Total revenue for the company reached RMB 3.2 billion, marking a year-on-year growth of 8.7%.

• A net profit of RMB 202 million was reported by the company.

• The company achieved a historically low funding cost in Q1 2024, with a decrease of 34 basis points compared to the previous quarter.

• LexinFintech invested RMB 130 million in research and development.

Business Progress:

• LexinFintech has implemented measures to maintain asset quality such as improving intelligent cost routing strategy and introducing a robust strategy.

• The company promoted low-interest loan products for high-quality consumers and small business owners, resulting in increased user activity levels and improved risk performance indicators.

• LexinFintech achieved double-digit growth in total loan origination volume in the Mexico market.

• Partnerships were established with several national-level financial institutions, boosting funding in the quarter.

• Expansion into Southeast Asia and the South American regions was carried out.

• A transition to diverse product models for overseas business is being planned by optimizing marketing, product integration, and risk management.

• The overall risk performance for loans issued to new customers has improved and is expected to further improve in the second half of the year.

More details: LexinFintech IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.