LexinFintech share repurchase program shows management’s ‘long-term confidence’

LexinFintech (LX) recently announced a share repurchase program. Specifically, the board of directors authorized the company to repurchase no more than US$50 million worth of its own shares over the next 12 months; meanwhile, CEO Xiao Wenjie plans to use his personal funds to purchase no more than US$10 million worth of the ADSs to increase his holdings of the company. This repurchase fully demonstrates the long-term confidence of Lexin’s management in the company’s development.