Lexin’s profit jump masks slowdown in its main loan business
The company reported a big net income increase for the first quarter, but its revenue fell on sluggishness in its loan facilitation business Key Takeaways: Lexin’s net profit doubled in…
BRIEF: FinVolution profit jumps on gains in loan facilitation, international revenue
FinVolution Group (FINV.US) reported on Monday its revenue rose 7.2% year-on-year in last year’s fourth quarter to 3.46 billion yuan ($478 million), while its net profit jumped 29% to 681…
FinVolution finds riches, achieves growth despite headwinds, in global markets
The fintech lender launched its international expansion in 2018, and plans to enter more countries this year and next Key Takeaways: FinVolution has accelerated its overseas expansion as demand slows…
FAST NEWS: Yixin’s auto financing jumps on strong EV demand
The latest: Internet-based auto financier Yixin Group Ltd. (2858.HK) announced Wednesday its total financing for automobiles rose 30% to 17.7 billion yuan ($2.48 billion) in the third quarter of 2023. Looking up: The…
Lufax takes on more risk, makes Hong Kong acquisition, as its lending shrivels
The online loan facilitator’s revenue plunged 39% in the third quarter, as its loan delinquency rates rose sharply from a year earlier Key Takeaways: Lufax’s new loan originations fell 59%…
FAST NEWS: Lufax swings to loss as new lending tumbles
The latest: Lufax Holding Ltd. (LU.US), the largest of China’s private online loan facilitators, reported its revenue fell 22% to 12.32 billion yuan ($1.79 billion) in the fourth quarter, while…
