LexinFintech Holdings Ltd. (LX) is one of the principal e-commerce-based consumption and finance Chinese companies. It connects ever-increasing clients with economic institutions by leveraging a thorough understanding of clients and modern technology abilities.
LX stock price during the regular trading of March 15, 2022, is up by 2.62% to be $2.15. Its price further surged at the time of writing in the premarket session on March 16, 2022, by 21.1%.
LX: Events and Happenings
On March 16, 2022, LX reported the authorization of a share reacquisition program by its board of directors. The company may acquire approximately $50 million of the shares over the coming year.
LX: Key Financials
On March 15, 2022, LX released its quarterly financial report for the three months ended December 31, 2021. Some important features are discussed here.
Total operating revenue for the fourth quarter of 2021 was RMB2199 million compared to RMB3033 million in the same period of 2020. The revenue for the fourth quarter decreased by 27.5% YoY.
Net income per ordinary diluted share in Q4 2021 was RMB256 million or RMB0.65 compared to RMB509 million or RMB1.27 in the comparable quarter of 2020. The company showed a decline of 49.8% in earnings over the year.
On December 22, 2021, LX announced the receipt of the certificate of Wealth and Society Corporate Commitment by the Asian Banker’s Global Wealth and Society Corporate Commitment Certification Program 2021.
On December 01, 2021, LX updated on the plans of its senior management to use their private funds for the acquisition of its American depository shares. The management intended to continue the acquisition of approximately $10 million ADSs in six months period.
LX stock dipped in the last year by 83% as it was the peak pandemic period. Its recent stock situation is good as it swells in the premarket session following its share repurchase program and financial statement.