Lexin released Q2 financial report: transaction 49.1 billion yuan in two -digit growth business entered a steady growth track

On August 17th, Beijing time, China ’s leading new consumer digital technology service provider Lexin (NASDAQ: LX) released unaudited financial results in the second quarter of 2022: Thanks to further improvement of customer acquisition quality and strengthening high -quality users' refined operations. In the second quarter, in the second quarter of the epidemic impact and macroeconomic pressure, Lexin promoted the loan of 49.1 billion yuan (RMB, the same below), an increase of 13.9%month -on -month; Closing of 2.4 billion yuan, an increase of 40.9%month-on-month; Non-GAAP EBIT was 260 million yuan, an increase of 63.5%from the previous month.

Compared with the strong business growth in the first quarter, the company's business strategy was adjusted in a timely manner with the ease of the epidemic at the end of May. As of the end of the 2nd quarter, the number of Lexin users reached 178 million, an increase of 23.5%year -on -year, and the year -on -year double -digit growth rate was maintained in 12 consecutive quarters. The number of credit users was 38.87 million, a year -on -year increase of 18%.

In the 2nd quarter, Lexin's "Small Store Fireworks Plan" provided a number of bailout services for the individual and small and micro -business owners of inclusiveness. During the quarter, Lexin's small WeChat loan business for small and medium -sized business owners reached 5.4 billion, an increase of 36.4% year -on -year Essence

In terms of asset quality, the overdue rate has continued to decrease since December 2021, and the July overdue rate decreased by 11%compared with the average of the first quarter; the 30 -day recovery rate has always maintained at more than 90%. As of the end of the 2nd quarter, the 90+ overdue rate was 2.63%, which maintained stable overall.

In terms of funds, financing costs have continued to decline, financing success rate continues to increase, financial partners' circle of friends has continued to expand, and it has reached a cumulative cooperation with more than 130 financial institutions.

Xiao Wenjie, CEO of Lexin, said: "In the second quarter, with the recovery of the economy and the situation of the epidemic situation, we adjusted the business strategy in time, improved the quality of customer acquisition in multiple prongs, strengthened the refined operation of high -quality customer base, and achieved significant results. In the second quarter, in the second quarter The performance of the first quarter of the first quarter was obvious, and the business development returned to the track of healthy growth. The underlying capabilities of the user's operating ability, risk control capabilities, funding capabilities, data and technical capabilities we accumulated before, under the activation of operating strategies The motivation. In the third quarter, the business development continued the good growth trend in the second quarter. We expect that the loan amount in the third quarter will not be less than 53 billion yuan. "

Based on the accumulation of the huge user group and data model of Lexin, the refined operating capabilities of high -quality user groups, and the confidence of the underlying capabilities such as data and technology, Lexin and Management continued to repurchase stocks. The financial report disclosed that as of the end of the second quarter, Lexin Enterprise repurchased about 13 million ADS, about 31 million US dollars; the management repurchased about $ 6 million ADS.

Deeply plowing customer base and scene advantages to promote the enhancement of the "Lexin Business Ecology" cycle

Since the 2nd quarter, Lexin has further improved the quality of customer acquisition, continuously improved the scenes and services of E -commerce and buying in installments, and deeply cultivated customer base and scene advantages.

In terms of customer base, the proportion of high -quality people in the second quarter has exceeded 80%, and Lexin continues to improve the quality of customer acquisition, including the development of high -quality customer groups such as new workplace people, small town youths, and new citizen groups. Xinpu Hui's offline advantage, using the "micro -loan" product as the driver point to break through high -quality orientation users; jointly modeling with more big data platforms, upgrading the joint modeling ability, and improving the quality of input; and adjusting different regions according to the impact of the epidemic situation. Customer acquisition and so on.

In terms of scenes, in the second quarter, on the basis of the 3C advantage category, the staging music mall further expands the category camps, adding 159 brand stores, covering light luxury bags, domestic emerging beauty, sports fashion, international fashion watches, and living appliances categories and other categories ; Increase cooperation with local governments to promote local consumption through promotion and issuing consumer coupons. Buy the "shopping store" function to help users go to the mall and brand chain stores without leaving the house, connect to shopping guide at any time, and buy authentic offline counters. Essence

According to the financial report, in the second quarter, the GMV of the scene business reached 1.1 billion yuan, an increase of 35.5%year -on -year. High -frequency and high -stick consumption scenarios continued to provide high -quality users for Lexin's loan business, and the transactions were promoted.

Take the 618 major promotion as an example. Based on the e -commerce venue in installments, Lexin's consumer financial transaction volume increased by 32%; during the 618 peak period, the full -time consumer product product Lehua Card daily increased by 34%month -on -month, the number of transaction users increased by 26 %, A new year high of the year.

Lexin has a distinctive scene and customer base advantage to open a cycle enhancement path that integrates Lexin business, capabilities, and advantages -installing Lexin and other scenarios to get high -quality customer groups; high -quality customer base; high -quality customer base; , Continue to increase the scale and profits to the main business of Consumer Finance; the main scale and profit of the main business have continued to increase, so that Lexin accumulates rich data, thereby enhancing models and technical capabilities; Merchant output; sharing the scientific and technological capabilities of banks and merchants to attract more funds and scene access; rich and more high -quality customer bases, start a new round of cycle, and form a unique business ecology of Lexin.

R & D investment continues to increase smart business engines to improve operating efficiency

According to the financial report, in the second quarter, Lexin R & D investment reached 155 million yuan, an increase of 18.5%year -on -year. The industry's leading R & D investment continued to consolidate Lexin's data and technical capabilities, and improved operating efficiency and corporate efficiency.

Lexin integrates the leading technical capabilities accumulated for many years and upgrades to a smart business engine. This is based on big data and intelligent decision -making, covering a system of customer acquisition, credit, trading, and full -loan process. Lexin Smart Business Engine is both the brain of the enterprise and the hands of the enterprise. It provides a complete set of analysis and decision -making tools to help business achieve agile operation and rapid iteration, and greatly improve decision -making, operation and business operational efficiency. The continuous improvement of technical capabilities has allowed refined operations to be fully implemented, and shows strong motivation and potential. With the help of Lexin Smart Business Engine, Lexin classified the customer base based on the accumulated user data accumulated for many years and external data sources, and conducted multiple batches of quantitative experiments and iterations. %, An ARPU value increased by more than 20%.

The refined operation of the high -quality customer base of technology is reflected in all levels of Lexin's operation. In terms of data, by strengthening the coverage and application of the bank's credit reporting model, Lexin has increased the ability to recognize high -quality customers by more than 25%. The underlying PD risk model has been upgraded, thanks to the more reasonable distribution group management, algorithm optimization, and more data introduction of customers, the model recognition accuracy is increased by more than 20%; its independent research and development of the user's willingness model and marketing strategy model, in the place, in the With the same goal, only 50%of the marketing costs are required.

In addition to the refined operation of high -quality customer bases, the improvement of data and technical capabilities has also brought significant benefit improvement to the Lexin Inclusive team. With the digital business tools of smart business engines, the Lexin inclusive team that is all over the country and offline has increased by 30%, and the size of small and micro customers has increased by 50%.

Continuously consolidated scientific and technological capabilities to win more partners' trust for Lexin. In the second quarter, Lexin accelerated to Bank's business and has been in many banks. By providing a number of technology and digital services to financial institutions, helping institutions accelerate digital upgrades and improve the core capabilities of credit, and have been unanimously recognized by partners.

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