Lexinfintech Holdings Ltd · Q1 2025 earnings

Briefing

LexinFintech Q1 2025: net income jumps 113% to RMB430M as asset quality improves

LexinFintech Holdings reported first quarter 2025 results on May 21 with operating revenue of RMB3.10 billion, down 4.3% year over year, while net income surged 113% to RMB430 million from RMB202 million in Q1 2024. Adjusted net income attributable to ordinary shareholders was RMB472 million, and diluted net income per ADS was RMB2.39. Management said net profit take rate reached 1.58%, up 27 basis points quarter over quarter, supported by better asset quality and lower funding costs. Registered users grew 8.1% to 232 million and loan originations were RMB51.6 billion, while outstanding principal balance fell 11.7% to RMB107 billion. The board raised the cash dividend payout ratio to 30% of net income effective second half 2025 and reaffirmed expectations for significant full-year 2025 net income growth.

• Operating revenue was RMB3.10 billion (-4.3% YoY); net income rose 113% to RMB430 million with diluted EPS of RMB2.39 per ADS.
• Credit facilitation service income fell 17.3% to RMB2.19 billion while tech-empowerment service income grew 72.8% to RMB625 million.
• Registered users reached 232 million (+8.1% YoY); 90-day+ delinquency improved to 3.3% from 3.6% at year-end 2024.
• Gross profit increased to RMB1.22 billion despite lower top-line revenue as credit costs and provisions declined.
• Board increased dividend payout ratio to 30% of net income starting H2 2025 and reaffirmed significant full-year net income growth guidance.

Headline financials

Revenue & EPS history

Management expects full-year 2025 net income to achieve significant year-over-year growth driven by continued asset quality improvements, while remaining prudent on macro uncertainty.