SEC Filings

Form 20-F
LEXINFINTECH HOLDINGS LTD. filed this Form 20-F on 04/26/2018
Document Outline
Entire Document (11346.7 KB)
Subdocument 1 - 20-F - 20-F
Page 1 - UNITED STATES
Page 2 - TABLE OF CONTENTS
Page 3 - INTRODUCTION
Page 4 - FORWARD-LOOKING INFORMATION
Page 5 - Item 3.
Page 6 - Exchange Rate Information
Page 7 - B.
Page 8 - If we are unable to retain existing customers or attract new customers, or if we fail to meet the fi
Page 9 - The laws and regulations governing the online consumer finance industry and microcredit companies in
Page 10 - If any of our business practices is deemed to violate any PRC laws or regulations, our business, fin
Page 11 - Requirement on the information disclosure
Page 12 - Our operations have been and may need to continue to be modified to ensure full compliance with the
Page 13 - Juzi Licai
Page 14 - We cooperate with institutional funding partners, whose compliance with PRC laws and regulations may
Page 15 - Juzi Licai
Page 16 - We need adequate funding at reasonable cost to successfully operate our business, and access to adeq
Page 17 - If our existing and new loan products or financial services do not maintain or achieve sufficient ma
Page 18 - Any negative publicity or customer complaints with respect to us, the consumer finance industry in g
Page 19 - If we fail to maintain cooperation with our funding partners or to maintain sufficient liquidity to
Page 20 - We have incurred net losses in the past and may incur net losses in the future.
Page 21 - Fraudulent activities on our platforms or that target our customers could negatively impact our oper
Page 22 - Our current level of fee rates may decline in the future. Any material reduction in our fee rates co
Page 23 - Limited liquidity exists for investments made on Juzi Licai, which may make these investments less a
Page 24 - Uncertainties relating to the growth and profitability of the online retail industry in China in gen
Page 25 - If the total addressable market for our target customer cohort is smaller than what we believe it is
Page 26 - We may not be able to obtain additional operating capital on favorable terms or at all.
Page 27 - The origination of loans on our platform could give rise to liabilities under PRC laws and regulatio
Page 28 - Credit and other information that we receive from prospective customers and third parties about a cu
Page 29 - Hawkeye
Page 30 - We may not be able to prevent others from unauthorized use of our intellectual property, which could
Page 31 - We may be held liable for information or content displayed on, retrieved from or linked to our mobil
Page 32 - In connection with the audits of our consolidated financial statements as of and for the years ended
Page 33 - Our business depends on the continued efforts of our senior management. If one or more of our key ex
Page 34 - We face risks related to natural disasters, health epidemics and other outbreaks, which could signif
Page 35 - We rely on contractual arrangements with our variable interest entities and their shareholders, for
Page 36 - Any failure by our variable interest entities or their respective shareholders to perform their obli
Page 37 - Contractual arrangements in relation to our variable interest entities, may be subject to scrutiny b
Page 38 - A downturn in the Chinese or global economy could reduce the demand for consumer loans and investmen
Page 39 - Substantial uncertainties exist with respect to the enactment timetable, interpretation and implemen
Page 40 - We rely on dividends and other distributions on equity paid by our PRC subsidiaries to fund any cash
Page 41 - Fluctuations in exchange rates could have a material adverse effect on our results of operations and
Page 42 - Governmental control of currency conversion may limit our ability to utilize our operating revenue e
Page 43 - PRC regulations relating to offshore investment activities by PRC residents may limit our PRC subsid
Page 44 - If we are classified as a PRC resident enterprise for PRC income tax purposes, such classification c
Page 45 - If the status of certain of our PRC subsidiaries and variable interest entities as High and New Tech
Page 46 - The audit report included in this annual report is prepared by an auditor who is not inspected by th
Page 47 - Risks Related to the American Depositary Shares
Page 48 - Our dual-class share structure will limit your ability to influence corporate matters and could disc
Page 49 - Substantial future sales or perceived potential sales of the ADSs in the public market could cause t
Page 50 - Except in limited circumstances, the depositary will give us a discretionary proxy to vote the Class
Page 51 - You may not receive dividends or other distributions on our Class A ordinary shares and you may not
Page 52 - The memorandum and articles of association contains anti-takeover provisions that could discourage a
Page 53 - We are a foreign private issuer within the meaning of the rules under the Exchange Act, and as such
Page 54 - We will incur increased costs as a result of being a public company, particularly after we cease to
Page 55 - Item 4.
Page 56 - Customer acquisition
Page 57 - Our Loan Products
Page 58 - Installment purchase loans
Page 59 - Individual investors on Juzi Licai
Page 60 - Investors purchasing our asset-backed securities
Page 61 - Juzi Licai
Page 62 - Our Loan Application and Approval Process
Page 63 - Hawkeye
Page 64 - Risk Management
Page 65 - Technology
Page 66 - Our operational infrastructure
Page 67 - Insurance
Page 68 - Industry Catalog Relating to Foreign Investment
Page 69 - Licenses and Permits
Page 70 - Online Culture Operating Permit
Page 71 - Regulations Relating to Online Lending Information Intermediary Service Agency
Page 72 - N/A
Page 73 - Regulations Relating to Record-filings of Online Lending Information Intermediary Service Agency
Page 74 - Requirements relating to risk reserve funds.
Page 75 - Regulations Relating to Funds Custodian of Online Lending
Page 76 - Regulations Relating to Information Disclosure by Online Lending Intermediary
Page 77 - Regulations Relating to Microcredit
Page 78 - N/A
Page 79 - Regulations Relating to Financing Guarantee
Page 80 - Regulations Relating to Internet Information Security and Privacy Protection
Page 81 - Regulations Relating to Online Transactions
Page 82 - Regulations Related to Internet Advertising
Page 83 - Regulations Relating to Intellectual Property Rights
Page 84 - Income Tax for Share Transfers
Page 85 - Dividend Withholding Tax
Page 86 - N/A
Page 87 - C.
Page 88 - Agreements that Allow Us to Receive Economic Benefits from Our Variable Interest Entities
Page 89 - Agreements that Provide Us with the Option to Purchase the Equity Interest in Our Variable Interest
Page 90 - D.
Page 91 - Key Operating Metrics
Page 92 - General Factors Affecting Our Results of Operations
Page 93 - Key Specific Factors Affecting Our Results of Operations
Page 94 - Ability to control customer acquisition cost
Page 95 - Loan Performance Data
Page 96 - Key Components of Our Results of Operations
Page 97 - Other revenue.
Page 98 - Taxation
Page 99 - Results of Operations
Page 100 - Year Ended December 31, 2017 Compared to Year Ended December 31, 2016
Page 101 - Processing and servicing cost.
Page 102 - Change in fair value of financial guarantee derivatives
Page 103 - Loan facilitation and servicing fees.
Page 104 - Operating expenses
Page 105 - Cash and Cash Equivalents
Page 106 - Inventories, Net
Page 107 - On-and off-balance sheet treatment of loans
Page 108 - Revenue recognition: interest and financial services income.
Page 109 - Fair Value Measurement
Page 110 - Provision for credit losses
Page 111 - Taxation
Page 112 - Cost of Equity.
Page 113 - N/A
Page 114 - A.
Page 115 - Asset-backed securitized debts.
Page 116 - Accounts payable and inventories
Page 117 - Investing Activities
Page 118 - Financing Activities
Page 119 - A.
Page 120 - Mr. Jay Wenjie Xiao
Page 121 - Mr. Keyi Chen
Page 122 - Share Incentive Plan
Page 123 - Plan Administration.
Page 124 - B.
Page 125 - Compensation Committee
Page 126 - Employment Agreements and Indemnification Agreements
Page 127 - C.
Page 128 - N/A
Page 129 - Item 7.
Page 130 - Transactions with JD.com
Page 131 - Termination of Obligations.
Page 132 - B.
Page 133 - Registered Office and Objects
Page 134 - Transfer of Ordinary Shares.
Page 135 - Variations of Rights of Shares.
Page 136 - C.
Page 137 - People s Republic of China Taxation
Page 138 - United States Federal Income Taxation
Page 139 - Passive Foreign Investment Company Considerations
Page 140 - Dividends
Page 141 - Passive Foreign Investment Company Rules
Page 142 - Information Reporting
Page 143 - I.
Page 144 - C.
Page 145 - Fees and Other Payments Made by the Depositary to Us
Page 146 - Management s Annual Report on Internal Control over Financial Reporting
Page 147 - Item 16B.
Page 148 - PART III
Page 149 - N/A
Page 150 - N/A
Page 151 - N/A
Page 152 - SIGNATURES
Page 153 - INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
Page 154 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 155 - LEXINFINTECH HOLDINGS LTD.
Page 156 - LEXINFINTECH HOLDINGS LTD.
Page 157 - LEXINFINTECH HOLDINGS LTD.
Page 158 - LEXINFINTECH HOLDINGS LTD.
Page 159 - LEXINFINTECH HOLDINGS LTD.
Page 160 - LEXINFINTECH HOLDINGS LTD.
Page 161 - LEXINFINTECH HOLDINGS LTD.
Page 162 - History of the Group and Basis of Presentation
Page 163 - Initial Public Offering
Page 164 - 2. SIGNIFICANT ACCOUNTING POLICIES
Page 165 - Loan Agreements.
Page 166 - N/A
Page 167 - Use of estimates
Page 168 - On-balance sheet: Loans funded by Individual Investors on Juzi Licai and certain Institutional Fundi
Page 169 - Off-balance sheet: Loans funded by certain other Institutional Funding Partners such as third-party
Page 170 - Funding Debts
Page 171 - Online direct sales and services
Page 172 - Loan facilitation and servicing fees
Page 173 - Restricted time deposits
Page 174 - Cost of sales
Page 175 - Sales and marketing expenses
Page 176 - Taxation
Page 177 - Segment reporting
Page 178 - Concentration of Customers, suppliers, Individual Investors, and Institutional Funding Partners
Page 179 - Leases
Page 180 - 3. FINANCING RECEIVABLES, NET
Page 181 - Credit Quality Indicators
Page 182 - 4. PREPAID EXPENSES AND OTHER CURRENT ASSETS
Page 183 - Cost method
Page 184 - Significant Unobservable Inputs
Page 185 - Significant Recurring Level 3 Fair Value Liability Input Sensitivity
Page 186 - Liabilities to Individual Investors Juzi Licai
Page 187 - 10. SHORT-TERM AND LONG-TERM BORROWINGS
Page 188 - 11. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Page 189 - 13. TAXATION
Page 190 - PRC Withholding Tax on Dividends
Page 191 - Deferred tax assets
Page 192 - Uncertain Tax Position
Page 193 - 15. CONVERTIBLE REDEEMABLE PREFERRED SHARES
Page 194 - N/A
Page 195 - Accounting for the Conversion of Convertible Loans into Pre-IPO Series C-1/C-2 Preferred Shares
Page 196 - 16. ORDINARY SHARES
Page 197 - 18. EMPLOYEE BENEFIT PLAN
Page 198 - 19. STATUTORY RESERVES AND RESTRICTED NET ASSETS
Page 199 - Stock options
Page 200 - N/A
Page 201 - 21. OTHERS, NET
Page 202 - Juzi Licai.
Page 203 - Condensed Balance Sheets (Continued) (In thousands, except for share and per share data)
Page 204 - Condensed Statements of Operations and Comprehensive (Loss)/Income (In thousands)
Page 205 - Investments Equity Method and Joint Ventures
Subdocument 2 - EX-8.1 - EX-8.1
Page 1 - Exhibit 8.1
Subdocument 3 - EX-12.1 - EX-12.1
Page 1 - Exhibit 12.1
Subdocument 4 - EX-12.2 - EX-12.2
Page 1 - Exhibit 12.2
Subdocument 5 - EX-13.1 - EX-13.1
Page 1 - Exhibit 13.1
Subdocument 6 - EX-13.2 - EX-13.2
Page 1 - Exhibit 13.2
Subdocument 7 - EX-15.1 - EX-15.1
Page 1 - Exhibit 15.1
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