According to the Securities Times APP, as of the US market close on Tuesday (October 22), driven by the collective rise of China concept stocks, the kickoff of Singles' Day sales, and the increase in dividend ratio to 25%, Lexin, a leading Chinese new consumer digital technology service provider (LX.US), rose by 5.71% to a closing price of $3.33, with a daily trading volume of $23.0943 million.

This is the third consecutive trading day of gains for Lexin. In the past three trading days, Lexin's stock price has risen by 16.8%. It is noteworthy that the trading volume of $23.0943 million has once again brought Lexin back to the key threshold of 10 million USD in daily trading volume, ranking 3rd among the top 40 gainers of China concept stocks.

At the market level, due to concerns about the Federal Reserve's lack of success in tackling inflation, the three major US indices showed mixed movements. At the close, the Dow fell by 0.02%, the Nasdaq rose by 0.18%, and the S&P 500 index fell by 0.05%.

Most popular China concept stocks rose, with the Nasdaq Golden Dragon Index up by 0.94%. Apart from Lexin, iQIYI rose by 4.05%, Full Truck Alliance, Li Auto Inc. surged by over 3%, Pinduoduo, Weibo, Xpeng rose by over 2%.

The rise in Lexin's stock price is mainly influenced by factors such as the increased dividend ratio, the start of Singles' Day sales, and the upcoming announcement of Q3 performance.

"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.

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.

It is reported that Lexin plans to disclose its third quarter financial report for the 2024 fiscal year on November 27, and the market's expectations and evaluations for its future are becoming increasingly strong.

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%.

From an investment perspective, Lexin's current net assets are approximately 10 billion, with low valuation levels of PE (PE ratio) and PB (pb ratio) compared to its peers. Despite its recent impressive stock price increase - exceeding 100%, the pb ratio is still only 0.4x, which is relatively low compared to the industry average, making it still attractive to investors.

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.