LexinFintech (LX) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was RMB 521 million, up 2% QoQ and 68% YoY, reflecting strong operational resilience amid regulatory changes.

• Loan originations reached RMB 50.9 billion, down 3.7% QoQ.

• All new loans from October 1, 2025, are priced at or below a 24% annual interest rate to comply with new regulations.

• Dividend payout ratio increased to 30% of net profit, and share repurchase initiatives advanced, including US$25 million in ADSs repurchased and CEO's personal share purchase over US$5 million.

• Registered users grew to 240 million, with cumulative active users at 33.1 million.

Financial highlights

• Total operating revenue was RMB 3,417 million, down 4.7% QoQ and 6.7% YoY.

• Net income margin improved to 15%, and net income attributable to ordinary shareholders was RMB 521 million, up 68.4% YoY.

• Gross profit stood at RMB 1,193 million, nearly flat YoY.

• Credit facilitation service income was RMB 2,617 million, up 15.3% QoQ but down 11.9% YoY; tech-empowerment service income rose 18.9% YoY to RMB 456 million.

• Cash position at RMB 4.3 billion; shareholders' equity at RMB 11.8 billion as of September 30, 2025.

Outlook and guidance

• Q4 2025 is expected to see moderate loan volume and net income declines due to regulatory impact, but full-year net profit is still forecast to show significant YoY growth.

• 2026 outlook remains uncertain due to regulatory and industry factors; recovery timing depends on risk stabilization.

• Guidance may be adjusted based on macroeconomic and industry risks.