Chinese Financial Stock Bid Up Premarket

A China-based financial firm is getting a lot of attention so far on Wednesday after the company reported higher Q2 operating revenue and net income. According to the release, the company’s Q2 EPS was $0.28, up from $0.15 YoY and sales coming in at $421.42M, up from $360.23M YoY.

Traders were excited on the news as shares of LexinFintech Holdings Ltd. (Nasdaq:LX) are currently bid up at $2.42/share (+8.04% implied open for sellers) at the time of writing. It should be an exciting session for this small cap!

LexinFintech Holdings Ltd is an online consumer finance platform and a technology-driven service provider in China. The group is engaged primarily in online direct sales services and online consumer financial services for its customers in China. It offers online direct sales with installment payment terms and offers installment purchase loans and personal installment loans mainly through its retail and online consumer finance platform www.fenqile.com, and its mobile application to young adults between the age of 18 and 36 in the People's Republic of China. The company also finances the loans with proceeds from partnering peer-to-peer lending platforms, commercial banks, and other financial institutions. Geographically, it derives revenue from China.

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