Lexin's net income doubled but revenue fell 4.3%. Improved risk management led to lower bad loan provisions. Consumers are hesitant to borrow, impacting loan facilitation. Lexin's competitors are gaining revenue amid stimulus measures. Expectations for Lexin's revenue to decline 2% in 2024.
LexinFintech reports strong user base and borrower growth. AI and proprietary software drive operational success. Focus on young Chinese consumers enhances future FCF. Reduced debt and increased equity suggest financial stability. DCF analysis indicates LX is significantly undervalued.