On August 28th, Lexin released its unaudited financial performance for the second quarter of 2024. In the second quarter, the company's revenue was 3.64 billion yuan, an increase of 12.3% compared to the previous quarter; Profit of 310 million yuan, up 9% month on month; Net profit was 230 million yuan, a month on month increase of 12.4%.
In terms of scale, the company's transaction volume in the second quarter was 51.1 billion yuan; Managing a loan balance of 115.2 billion yuan; The number of users reached 220 million, a year-on-year increase of 10.2%.
In terms of asset quality, the collection rate at the end of the second quarter decreased by about 7% compared to the beginning of the quarter, while the 30 day recovery rate increased by about 1.5% compared to the beginning of the quarter.
In addition, Lexin stated that in terms of financial cooperation, the company issued its first international 3A rated ABS during the quarter, which was subscribed by many high-quality investors. The company's cost of funds decreased by 58 basis points compared to the first quarter, reaching a new historical low.