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LX - LexinFintech: New Regulatory Developments Draw Attention
LexinFintech Holdings Ltd.
LX's bottom line grew strongly in Q3 2021, but its operating revenue declined as a result of lower loan pricing which is required to comply with new regulatory guidelines.
The regulators have provided more clarity on the credit reporting requirements and the allowable interest rate cap for online consumer firms, which I view as a key positive for LX.
I upgrade LexinFintech's investment rating to a Buy, on the basis of its undemanding valuations and reduced regulatory risks.