LexinFintech (LX) Q4 2025 earnings summary

Executive summary

• Net profit for 2025 was RMB 1.7 billion, up 52.4% year-over-year, despite a sharp Q4 net income decline to RMB 214 million due to risk management and pricing adjustments.

• Q4 2025 saw business optimization under a new regulatory framework, with a rebound in active users and multi-business synergy strengthening resilience.

• The company focused on compliance, premium customer acquisition, and risk management amid regulatory and macroeconomic uncertainties.

• AI technology was integrated to enhance user service, risk management, and operational efficiency, with customer service AI agents achieving over 90% accuracy.

Financial highlights

• Q4 2025 operating revenue was RMB 3,043 million, down 11.0% quarter-over-quarter and 16.8% year-over-year; full-year revenue was RMB 13,152 million, down 7.4%.

• Q4 net income was RMB 214 million, a 58.9% decrease quarter-over-quarter and 41.0% decrease year-over-year.

• Loan origination volume in Q4 was RMB 50 billion, down 1.8% quarter-over-quarter; full-year loan volume was RMB 205.3 billion.

• Gross profit for 2025 was RMB 4,469 million, down from RMB 5,026 million in 2024.

• E-commerce net revenue in Q4 rose to RMB 167 million, with gross margin improving to 7.8%.

Outlook and guidance

• 2026 strategy focuses on proactive user acquisition, product competitiveness, and targeting high-quality customer segments for normalized growth.

• Loan origination for Q1 2026 is expected to remain flat due to macroeconomic uncertainties; no full-year 2026 guidance provided.

• Continued emphasis on compliance, risk management, and disciplined execution for long-term returns.