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LexinFintech Holdings Ltd. Reports Fourth Quarter and Full Year 2020 Unaudited


SHENZHEN, China, March 18, 2021 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading online consumption and consumer finance platform for new generation consumers in China, today announced its unaudited financial results for the quarter ended December 31, 2020.

Fourth Quarter and Full Year 2020 Operational Highlights:

  • Total loan originations1 in the fourth quarter of 2020 reached RMB53.2 billion, an increase of 24.2% from RMB42.8 billion in the fourth quarter of 2019. Total loan originations1 in 2020 reached RMB177 billion, an increase of 40.3% from RMB126 billion in 2019.
  • Total outstanding principal balance of loans1 reached RMB76.5 billion as of December 31, 2020, representing an increase of 26.3% from RMB60.6 billion as of December 31, 2019.
  • Number of active users2 who used our loan products in 2020 reached 12.9 million, representing an increase of 31.2% from 9.9 million in 2019. Number of active users2 who used our loan products in the fourth quarter of 2020 reached 8.2 million, representing an increase of 16.9% from 7.0 million in the fourth quarter of 2019.
  • Number of new active users who used our loan products in 2020 was 6.1 million, representing a decrease of 6.9% from 6.6 million in 2019. Number of new active users who used our loan products in the fourth quarter of 2020 was 2.1 million, representing a decrease of 1.7% in the fourth quarter of 2019.
  • Number of orders placed on our platform in 2020 was 298 million, representing an increase of 77.1% from 168 million in 2019. Number of orders placed on our platform in the fourth quarter of 2020 was 87.6 million, representing an increase of 26.5% from 69.2 million in the fourth quarter of 2019.
  • The GMV3 of our e-commerce channel in 2020 reached RMB5.3 billion, representing a decrease of 34.7% from RMB8.1 billion in 2019. The GMV of our e-commerce channel in the fourth quarter of 2020 amounted to RMB1.4 billion, representing a decrease of 42.7% from RMB2.4 billion in the fourth quarter of 2019.
  • The weighted average tenor of loans originated on our platform in the fourth quarter of 2020 was approximately 12 months. The nominal APR4 was 16.1% for the fourth quarter of 2020.
  • Total number of registered users reached 118 million as of December 31, 2020, representing an increase of 61.2% from 73.3 million as of December 31, 2019; and users with credit line reached 27.7 million as of December 31, 2020, up by 43.2% from 19.4 million as of December 31, 2019.
  • 90 day+ delinquency ratio5 was 1.95% as of December 31, 2020.

    1  Originations of loans and outstanding principal balance represent the origination and outstanding principal balance of both on- and off-balance sheet loans.

    2  Active users refer to, for a specified period, users who made at least one transaction during that period through our platform or through our third-party partners’ platforms using credit line granted by us.

    3  GMV refers to the total value of transactions completed for products purchased on the e-commerce channel, net of returns.

    4  Nominal APR refers to all-in interest costs and fees to the borrower over the net proceeds received by the borrower as a percentage of the total loan originations of both on- and off-balance sheet loans.

    5  90 day+ delinquency ratio refers to outstanding principal balance of on- and off-balance sheet loans that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans on our platform as of a specific date. On-balance sheet loans that were over 179 calendar days past due and charged off are not included in the delinquency rate calculation. Off-balance sheet loans that were over 179 calendar days past due are assumed charged off and not included in the delinquency rate calculation. The Company does not distinguish on the basis of the on- or off-balance sheet treatment in monitoring the credit risks of borrowers and the delinquency status of…



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