LexinFintech Holdings Ltd. (NASDAQ:LX) saw its shares hike Monday, on announcing third-quarter financial numbers.
The Shenzhen, China-based online consumer finance platform for educated young adults in China company reported total outstanding principal balance of loans reached RMB51.5 billion as of September 30, 2019, representing an increase of 99.5% from RMB25.8 billion as of the prior-year quarter.
Total loan originations reached RMB37.0 billion, representing an increase of 170% from RMB13.7 billion in the third quarter of 2018.
The GMV of the copmany’s e-commerce channel amounted to RMB2.1 billion, representing an increase of 49.4% from RMB1.4 billion in the third quarter of 2018.
The weighted average tenor of loans originated on our platform in the third quarter of 2019 was approximately 13.3 months. The weighted average APR was 26.6% for the third quarter of 2019.
Total number of registered users reached 62.6 million in the latest quarter, representing an increase of 92.2% from 32.6 million in the prior-year quarter; and users with credit line reached 16.7 million as of September 30, 2019, up by 74.7% from 9.6 million as of September 30, 2018.
Number of active users who used our loan products in the third quarter of 2019 reached 6.1 million, compared to 2.8 million in the third quarter of 2018.
The number of new active users who used its loan products in the third quarter of 2019 was 2.5 million, representing an increase of 265% from 696,000 prior-year quarter.
Shares gained 49 cents, or 4%, to $13.00
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