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LexinFintech Holdings Ltd. Appoints New Director
May 29, 2019 at 6:15 AM EDT

SHENZHEN, China, May 29, 2019 /PRNewswire/ -- LexinFintech Holdings Ltd. ("Lexin" or the "Company") (Nasdaq: LX), a leading fintech platform for educated young adults in China, today announced the appointment of Mr. Min Xiao to Lexin's board of directors and the resignation of Mr. Yibo Shao from his post as a director of the Company, both effective May 29, 2019.

Mr. Min Xiao currently works as a Partner at Matrix Partners China, a leading venture capital firm in China focusing on the technology sector, after joining in 2010 and was responsible for Matrix Partners China's investment in Lexin. Prior to joining Matrix Partners China, he worked in various senior management roles in the technology industry in China, including at Baidu. Mr. Xiao received his bachelor's degree in law from the Hunan Academy of Governance in 2005.  

Mr. Jay Wenjie Xiao, Lexin's chairman and chief executive officer, stated: "We are delighted to welcome Mr. Min Xiao to our board. Mr. Xiao has a comprehensive understanding of our business and extensive experience in technology and investment. We look forward to continuing to work closely with him as we expand and grow."

"At the same time, I would like to thank Mr. Yibo Shao for his contributions to our board of directors," continued Mr. Xiao. "Without Mr. Shao's contributions, Lexin would not be what it is today, and I wish him the best in his future endeavors."

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a leading online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company's Dingsheng asset distribution technology platform, and the Company's Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of users funding requests with offers from the Company's more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions.

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Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the expectation of its collection efficiency and delinquency, business outlook and quotations from management in this announcement, contain forward-looking statements. Lexin may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Lexin's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Lexin's goal and strategies; Lexin's expansion plans; Lexin's future business development, financial condition and results of operations; Lexin's expectation regarding demand for, and market acceptance of, its credit and investment management products; Lexin's expectations regarding keeping and strengthening its relationship with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Lexin's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Lexin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

LexinFintech Holdings Ltd.

IR inquiries:
Tony Hung
Tel: +86 (755) 3637-8888 ext. 6258

Media inquiries:
Limin Chen
Tel: +86 (755) 3637-8888 ext. 6993

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SOURCE LexinFintech Holdings Ltd.