Brief News: LexinFintech completes business adjustment, third-quarter revenue declines while profit rises
LexinFintech's revenue in the third quarter decreased by 6.7% year-on-year to 3.42 billion yuan, but profit increased significantly by 68.4% year-on-year to 521 million yuan. The company has completed business adjustments to comply with new regulatory requirements. Starting from October 1, 2025, the annualized interest rate for newly issued loans will be set at or below 24%. After the earnings report was released, LexinFintech's stock price rose by 8.2% to $3.78
The online lending platform Lexin (LX.US) announced on Monday that due to an 11.9% decline in revenue from its credit intermediary business, which contributes about three-quarters of the company's income, third-quarter revenue fell 6.7% year-on-year to 3.42 billion yuan.
Despite the revenue decline, the company's profit for the quarter surged 68.4% year-on-year to 521 million yuan.
Chairman Xiao Wenjie stated, "In the third quarter, we efficiently completed business adjustments and successfully transformed to meet new regulatory requirements. Starting from October 1, 2025, the annualized interest rate for all new loans will be set at or below 24%."
After the earnings report was released, Lexin's stock price surged 8.2% on Monday, closing at $3.78. The stock has halved from its peak at the end of March, with a cumulative decline of 35% for the year
