According to Futu Securities APP, on Monday (November 4) closing of the U.S. stock market Eastern Time, driven by factors such as the start of Singles' Day and the upcoming announcement of the 2024Q3 performance, Lexin (LX.US), a leading new consumer digital technology service provider in China, rose by 14.69%, closing at $3.67, with a turnover of $20.121 million on that day.

The 14.69% trading volume set a record high increase for Lexin in the past month, ranking 4th among the 304 China concept stocks of the day; The $20.121 million trading volume ranked 1st among the top 10 China concept stock increases.

On the market front, as the election enters the final countdown, the three major indexes collectively closed lower with most investors remaining cautious. As of Monday's close, the S&P 500 index fell by 0.28%, the Nasdaq index fell by 0.33%, and the Dow Jones Industrial Index fell by 0.61%.

Most popular China concept stocks rose, with the Nasdaq Golden Dragon China Index closing up by 1.1%. The majority of popular China concept stocks rose, with Yum China rising by over 7%, Xpeng rising by nearly 5%, Tal Education rising by over 4%, and Trip.com and Vipshop rising by over 3%.

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.

Looking at the industry, the 9 fintech companies listed in the U.S. and Hong Kong all reported good financial reports in 2024Q2, with most achieving quarter-on-quarter revenue and net income growth.

The ongoing Singles' Day is expected to boost the Q3 business of various fintech companies. Singles' Day is China's grandest annual online shopping extravaganza.

LexinFintech's financial report for the second quarter of 2024 shows that the company's revenue reached 3.64 billion RMB, a 12.3% increase compared to the previous quarter; net income attributable to shareholders was 0.227 billion RMB, a 12.4% increase compared to the previous quarter. It is reported that LexinFintech plans to release its third quarter report for the 2024 fiscal year on November 27, and the market's expectations and evaluations of its future are becoming increasingly strong.

For financial technology companies, facing challenges of slowing domestic market growth and rising risks, overseas markets have become a new second growth curve. For example, in 2024 Q2, Finvolution's international business revenue accounted for 17.8%; in the first half of 2024, OneConnect Financial Technology's overseas client revenue contribution increased by 14.8% year-on-year.

Building on seven consecutive quarters of revenue growth, LexinFintech has made 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 growing by 113%. The company has now identified overseas business as a key 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%.

From an investment perspective, LexinFintech's current net assets are about 10 billion, with price-to-earnings (PE) and price-to-book (PB) valuation levels lower than its peers. Despite its recent remarkable stock price increase of over 100%, its price-to-book ratio is still only 0.4x. Compared to the industry average, it remains at a relatively low level, 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.