According to the Zhitong Caijing APP, at the close of the US stock market on Monday (October 21), driven by factors such as the start of the Singles' Day sales, increasing the dividend ratio to 25%, Lexin, the leading new consumer digital technology service provider in China (LX.US), rose by 6.78% to a closing price of $3.15, with a daily turnover of $6.3602 million.

In the context of the general decline of China concept stocks, Lexin's increase is particularly eye-catching. With a 6.78% increase, it ranks 18th out of 302 China concept stocks; with $6.3602 million, it ranks 2nd among the top 20 growth China concept stocks.

At the market level, influenced by the international gold price breaking through $2740 per ounce, the three major US stock indexes showed mixed trends. As of the close, the Dow fell by 0.8%, the S&P 500 index fell by 0.18%, and the Nasdaq rose by 0.27%.

Popular China concept stocks generally declined, with 108 China concept stocks rising and 168 China concept stocks falling. Among these, Baidu fell by over 2%, while Vipshop, Alibaba, Netease, and Nio Inc fell by over 1%.

The rise in Lexin's stock price is mainly influenced by factors such as raising the dividend ratio, the start of the Singles' Day sales event, and receiving authoritative awards for data security capabilities.

"Singles' Day" is China's grandest annual online shopping extravaganza. At 10 a.m. on October 18, Lexin's Fenqile Mall officially launched the Singles' Day shopping festival. It is reported that this year's Singles' Day event will last 26 days, including a pre-sale period, rotation period, peak period, and return period. In terms of the full reduction mechanism, the Fenqile Mall's explosive products are as low as 85% off, and there is a cross-store full reduction of $50 for every $300 spent.

Prior to this, LexinFintech was awarded the "Data Security Service Capability Certification", becoming the first financial technology company in China to receive this certification, with its data security construction capability being certified at the highest level by authoritative institutions. Currently, there are only 19 institutions with second-level qualifications for data security construction, and LexinFintech is among them along with the National Information Center, the Ministry of Emergency Management Big Data Center, etc.

On the performance side, in 2024 Q2, LexinFintech's loan scale reached 51 billion yuan, with assets totaling 115 billion yuan, both ranking at the forefront of the industry. With the introduction of domestic economic stimulus policies, the credit demand is expected to gradually recover in the future.

At the same time, based on the continuous revenue growth for seven consecutive quarters, LexinFintech has made a huge breakthrough in its overseas business. For example, in the second quarter, the loan scale in the Mexican market increased by 61% quarter-on-quarter, and revenue increased by 113% compared to the previous period. The company has now identified overseas business as an important strategic direction.

In early October, during an investor conference, LexinFintech's management stated that by 2025, the company is expected to achieve significant growth and plans to gradually increase the dividend payout ratio starting from the first quarter of next year, raising it from the current 20% of net income to approximately 25%.

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.