LexinFintech share repurchase program shows management's 'long-term confidence'
Share Repurchase Program: LexinFintech's board has authorized a share repurchase program of up to US$50 million over the next year, reflecting management's confidence in the company's future.
CEO Investment: CEO Xiao Wenjie plans to personally invest up to US$10 million in the company's American Depositary Shares (ADSs) to increase his ownership stake.
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LexinFintech Reports Q3 Revenue of CNY 3.42 Billion with 240 Million Users
- Revenue Growth: LexinFintech reported Q3 revenue of CNY 3.42 billion, reflecting a 1.5% quarter-on-quarter increase, demonstrating the company's resilience amid macroeconomic challenges and solidifying its market position.
- User Base Expansion: The total user count reached 240 million in Q3, representing a 7.7% year-on-year increase, which not only enhances the company's market coverage but also strengthens its competitive edge in the fintech sector.
- Asset Quality Improvement: The overall 90-day-plus non-performing loan ratio decreased by 15 basis points quarter-on-quarter and 74 basis points year-on-year, continuing to showcase solid asset quality performance, which helps boost investor confidence.
- Increased Shareholder Returns: Lexin raised its dividend payout ratio from 25% to 30% in Q3 and has executed over $60 million of its share repurchase plan, reflecting the company's commitment to shareholder returns and confidence in its financial health.
Key Stocks Reporting Earnings This Week: Alibaba, CleanSpark, and Others
Earnings Reports Overview: The earnings season is nearing its end, with notable companies like WeRide Inc. and LexinFintech Holdings reporting positive results before the market opens on November 24.
Key Earnings to Watch: Zoom Communications, Alibaba Group, and several retailers including Kohl's and Best Buy are set to release their earnings reports, with analysts expecting significant insights into consumer behavior.
Market Schedule: U.S. stock markets will be closed on November 27 for Thanksgiving, and will have an early closure at 1 p.m. ET on November 28.
Company Performance: Deere & Co. has consistently exceeded analyst expectations for 12 consecutive quarters, highlighting its strong performance in the market.
