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    Yu Feng Chen

    Research Analyst at Huatai Securities

    Yu Feng Chen is currently a Lead Analyst at Huatai Securities Co., Ltd., specializing in coverage of the Chinese equity market with a focus on major listed firms. Chen has provided analysis and insights on companies such as Intercontinental Hotels Group, among others, demonstrating expertise in evaluating market factors and trends for global investors. With a tenure at Huatai Securities supporting the broker's transformation into a leading All-China institutional research platform, Chen's career is marked by a commitment to in-depth fundamental research and collaboration with institutional clients. Chen holds advanced analytical credentials and is recognized for contributions to the firm's standing in industry rankings.

    Yu Feng Chen's questions to LexinFintech Holdings (LX) leadership

    Yu Feng Chen's questions to LexinFintech Holdings (LX) leadership • Q3 2024

    Question

    Yu Feng Chen of Huatai Securities inquired about the factors driving the record-low funding cost in Q3 and the outlook for Q4. They also asked about the measures that led to a significant decrease in unit customer acquisition cost alongside a substantial increase in new customers with approved credit lines.

    Answer

    CFO Xigui Zheng stated that the funding cost reached a historic low of 4.28% due to ample market liquidity and partner confidence in Lexin's improving asset quality, and he anticipates milder optimization in Q4. CEO Jay Xiao, via translator Mandy Dong, attributed the lower acquisition costs to three main factors: improved efficiency in online advertising channels, intensified efforts to reactivate high-quality dormant customers from their 200M+ user base, and strengthened cooperation with leading key account (KA) channels.

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