Gelonghui May 24| Lexin (LX), China's leading new consumer digital technology service providerfreearcade.US) released unaudited financial results for the first quarter of 2024. Lexin adheres to the two-wheel drive of risk and data, operates prudently, balances scale and quality, and achieves steady development: revenue in the first quarter is 32freearcade.40 million yuan, a year-on-year increase of 8.7%. In terms of scale, the transaction volume was 58 billion yuanfreearcade; The balance of loans under management was 121.51 billion yuan, a year-on-year increase of 13.5%; the number of users was 215 million, a year-on-year increase of 10.8%.
In terms of asset quality, we will launch the Low&Grow new customer risk management system, strengthen the disposal and recovery of existing risk assets, and strive to reduce the impact of the macro environment and industry risk cycle. During the quarter, the asset quality of new customers gradually improved, the credit pass rate of new customers increased by more than 30%, the concentration of good customers using credit increased from 24% in January to 40% in March, and the early risk indicator of new customer assets FPD30 shows a continuous downward trend.
In terms of capital cooperation, a number of large national financial institutions were introduced during the quarter, and their capital proportion further increased, driving the cost of capital to drop by 34 bp month-on-month, hitting a record low. In May, the company issuedfreearcadeThe first international 3A rating ABS will further promote the continued decline in capital costs in the future.
