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LX - LexinFintech Slows Down Lending As Latest Regulatory Wave Rocks Fintechs
LexinFintech Holdings Ltd.
LexinFintech is voluntarily slowing down its lending activity while it awaits the next major move in China’s rapidly evolving regulatory environment.
Company’s shares tumbled after its latest quarterly results announcement, despite reporting 10% revenue growth and 88% profit growth.
Total loan originations for the period reached 60.6 billion yuan, representing an even bigger 47.6% increase, and net profit soared an even larger 87.7% to 787 million yuan.