According to Zhuantong Finance APP, as of the US Eastern Time on Friday, October 4th, the US stock market closed with factors such as continuous strong performance of China concept stocks, booming consumer spending during the National Day holiday, and upcoming Q3 earnings reports driving influence, the leading new consumer digital technology service provider in China, lexinfintech (LX.US), rose by 7.06% to a closing price of $3.65, with a daily trading volume of $32.0659 million.

After-hours data also shows that lexinfintech's stock price rose by another 0.55%; $32.0659 million, making it lexinfintech's 6th consecutive trading day with a trading volume exceeding tens of millions of dollars.

Lexinfintech's recent stock price has been strong, ranking highest among the 64 constituent stocks of the China Golden Dragon Index, with a remarkable increase of up to 118% in the last 9 trading days.

At the market level, boosted by positive US employment data, the three major US indexes all closed higher. At the close, the Dow Jones Industrial Average rose by 0.81%, the S&P 500 Index rose by 0.90%, and the Nasdaq Composite Index rose by 1.22%.

In terms of China concept stocks, the Nasdaq Golden Dragon Index rose by 3.05%, accumulating an 11.85% increase this week. Most popular China concept stocks closed higher, with miniso up by 8.76%, trip.com up by 5.88%, and jd.com up by 5.31%.

The rise in lexinfintech's stock price is mainly influenced by optimistic expectations for the second half of the year's performance and the continuous increase in consumer spending during the National Day holiday.

Data shows that consumer activity was high in the first three days of the National Day holiday, with nearly 0.3 billion people traveling domestically on a daily basis. The increase in consumption is beneficial for lexinfintech's continued growth in performance. Lexinfintech is set to release its Q3 performance in November, with the market generally having optimistic expectations.

Lexinfintech's financial report for the second quarter of 2024 shows that the company's revenue reached 3.64 billion yuan, an increase of 12.3% compared to the previous period; net income attributable to the parent company was 0.227 billion yuan, an increase of 12.4% from the previous period.

Lexinfintech's management has stated that risk management will be the top priority in the second half of the year. They will actively promote the accelerated development of overseas business, closely monitor and explore more opportunities in emerging markets, and believe that the company's dividend scale is likely to increase accordingly.

In the interim financial report, Lexinfintech continued its biannual dividend policy. Based on the closing price of $1.77 before the financial report was released (August 27, Eastern Time), the company's semi-annual dividend yield exceeds 8.1%, significantly higher than the returns offered by mainstream financial products on the market. This indicates that Lexinfintech is in a "value pocket" with a strong cost-performance ratio.

Performance is the catalyst driving stock prices and dividends. Building on seven consecutive quarters of revenue growth, Lexin has achieved significant breakthroughs in its overseas business. For example, in the second quarter, the loan scale in the Mexican market increased by 61% compared to the previous quarter, with revenue rising by 113%. The company has now identified overseas business as a key strategic direction.

Previously affected by the capital markets, Lexinfintech had dropped by around 80%. The current rebound signifies a return to value, but based on PE and PB values, it still remains at low levels, indicating significant growth potential compared to peers.

Founded in August 2013 and based in Shenzhen, China, Lexinfintech has actively connected online and offline extensive consumer scenarios through its platforms, linking millions of young Chinese consumers with new consumer brands. In December 2017, Lexinfintech officially landed on the Nasdaq in the USA.