SHENZHEN, China, Dec. 12, 2018 /PRNewswire/ -- LexinFintech
Holdings Ltd. ("Lexin" or the "Company") (Nasdaq: LX), a leading
online consumer finance platform for educated young adults in
China, is issuing this press
release with respect to the Shenzhen Internet Finance Association's
recent announcement on limiting P2P growth during the current
compliance inspection period (the "Recent Announcement").
The Company has been assessing the Shenzhen Internet Finance
Association's Recent Announcement on limiting P2P growth during the
current compliance inspection period. The Recent Announcement is
consistent with past announcements and frameworks established by
the national regulatory authorities, Lexin strongly supports the
government in its goal of creating a more orderly and disciplined
P2P market, and believes that only an orderly and disciplined P2P
market can have healthy and sustainable growth in the future.
The Recent Announcement was within the Company's expectations
which the Company has prepared for. Based on the Company's current
assessment, Lexin expects the impact to be limited to the Company's
operations. Lexin believes that it has been in compliance with the
current regulatory frameworks and is well prepared to cope with the
changes of regulatory frameworks as announced by the Shenzhen
Internet Finance Association.
The Company has successfully diversified its sources of capital,
and has consistently continued to achieve strong results in this
area. In the year to date, Lexin has already worked with many of
China's largest financial
institutions, and fully expects to be able to continue to grow the
number of institutional funding partners.
Based on the Company's current assessment of the potential
impact of the Recent Announcement and its successful efforts in
diversifying sources of capital, the Company expects total loan
origination for the fourth quarter of 2018 to be approximately
RMB19 billion to RMB20 billion.
"Currently our institutional
funding has already reached over 70% of our funding for new loans,
as we maintain our P2P balances at current levels," said Mr.
Jay Wenjie Xiao, Lexin's chairman
and chief executive officer. "Our company continues to register
strong growth, and we are fully confident in our unique operating
model and funding sources as we enter 2019."
About LexinFintech Holdings Ltd.
LexinFintech Holdings Ltd. is a leading online consumer finance
platform for educated young adults in China. As one of China's leading financial technology
companies, Lexin integrates its e-commerce-driven installment
finance platform, Fenqile, with advanced risk management
technologies, the Company's Dingsheng asset distribution
technology platform, and the Company's Juzi Licai online
investment platform for individual investors, to create a
comprehensive consumer finance ecosystem. The Company utilizes
technologies including big data, cloud computing and artificial
intelligence to enable the near-instantaneous matching of users
funding requests with offers from the Company's more than 30
funding partners, which include commercial banks, consumer finance
companies, and other licensed financial institutions.
For more information, please visit
http://ir.lexinfintech.com
To follow us on Twitter, please go to:
https://twitter.com/LexinFintech.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency, business outlook and quotations from management in
this announcement, contain forward-looking statements. Lexin may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission
(the "SEC"), in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Lexin's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Lexin's goal
and strategies; Lexin's expansion plans; Lexin's future business
development, financial condition and results of operations; Lexin's
expectation regarding demand for, and market acceptance of, its
credit and investment management products; Lexin's expectations
regarding keeping and strengthening its relationship with
borrowers, institutional funding partners, merchandise suppliers
and other parties it collaborates with; general economic and
business conditions; and assumptions underlying or related to any
of the foregoing. Further information regarding these and other
risks is included in Lexin's filings with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Lexin does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
LexinFintech Holdings Ltd.
IR inquiries:
Tony Hung
Tel: +86 (755) 3637-8888 ext. 6258
E-mail: IR@lexinfintech.com
Media inquiries:
Limin Chen
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: liminchen@lexinfintech.com
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SOURCE LexinFintech Holdings Ltd.