LexinFintech Holdings Ltd. (LX) saw its stock price plummet 5.48% in pre-market trading on Wednesday, despite reporting strong fourth-quarter results for 2024. The significant drop appears to be driven by the company's cautious outlook for 2025, which overshadowed its positive performance.
For the fourth quarter of 2024, LexinFintech reported impressive financial results. Net income surged to RMB362.749 million ($49.7 million), representing an increase of over 100% from RMB12.097 million in the same period last year. The company's revenue also grew 4.3% year-over-year to RMB3,658.833 million. Additionally, LexinFintech announced an increase in its cash dividend payout ratio to 25% of net income, effective January 1, 2025.
However, the main factor behind the sell-off seems to be LexinFintech's conservative guidance for 2025. The company expects flat to single-digit growth in total loan origination, citing ongoing macroeconomic uncertainties. This cautious stance has likely spooked investors who were hoping for more robust growth projections. Despite the conservative outlook, LexinFintech's management emphasized their commitment to a prudent operating strategy, prioritizing asset quality and profitability enhancement.
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