UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2020

Commission File Number: 001-38328

LexinFintech Holdings Ltd.

27/F CES Tower

No. 3099 Keyuan South Road

Nanshan District, Shenzhen 518052

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 18, 2020

Exhibit Index

Exhibit 99.1—Press Release

Exhibit 99.2—Press Release

Exhibit 99.1

LexinFintech Holdings Ltd. Announces Changes to Board of Directors

SHENZHEN, China, August 18, 2020 /GLOBE NEWSWIRE/ — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading online consumption and consumer finance platform for new generation consumers in China, today announced the appointment of Ms. Annabelle Yu Long to Lexin’s board of directors and the resignation of Mr. Min Xiao from his post as a director of the Company, both effective August 18, 2020. Ms. Long will also serve on Lexin’s audit committee, where she will replace Mr. Xiaoguang Wu, who will continue to serve as a director of the Company, a member of its compensation committee and the chairperson of its nominating and corporate governance committee.

Ms. Annabelle Yu Long currently serves as a member of Bertelsmann Group Management Committee, as the Chief Executive Officer of Bertelsmann China Corporate Center, and is the Founding and Managing Partner of Bertelsmann Asia Investments. Ms. Long also serves on the Board of Directors of Tapestry (NYSE: TPR, its portfolio includes Coach, Stuart Weitzman and Kate Spade), BitAuto (NYSE: BITA), and China Distance Education (NYSE: DL). She holds an MBA from the Stanford Graduate School of Business and a BSEE from the University of Electronic Science and Technology in China.

Mr. Jay Wenjie Xiao, Lexin’s chairman and chief executive officer stated “We are delighted to welcome Ms. Annabelle Yu Long to our board. Ms. Yu has a comprehensive understanding of our business and extensive experience in technology and consumer products, and will add greater diversity to our board. We look forward to working with her closely as we continue to expand and grow.”

“At the same time I would like to thank Mr. Min Xiao for his contributions to our board of directors,” continued Mr. Xiao. “Mr. Min Xiao has been a valuable member of the board and we look forward to continuing work together in the future.”

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a leading online consumption and consumer finance platform for new generation consumers in China. The Company provides a range of services including financial technology services, membership benefits, and a point redemption system through its ecommerce platform Fenqile and membership platform Le Card. The Company works with financial institutions and brands both online and offline to provide a comprehensive consumption ecosystem catering to the needs of young professionals in China. Lexin utilizes advanced technologies such as big data, cloud computing and artificial intelligence throughout the Company’s services and operations, which include risk management, loan facilitation, and the near-instantaneous matching of users’ funding requests with offers from the Company’s many funding partners.

For more information, please visit http://ir.lexin.com

To follow us on Twitter, please go to: https://twitter.com/LexinFintech.

For investor and media inquiries, please contact:

LexinFintech Holdings Ltd.

IR inquiries:

Tony Hung

Tel: +86 (755) 3637-8888 ext. 6258

E-mail: IR@lexin.com

Media inquiries:

Limin Chen

Tel: +86 (755) 3637-8888 ext. 6993

E-mail: liminchen@lexin.com

SOURCE LexinFintech Holdings Ltd.

Exhibit 99.2

LexinFintech Holdings Ltd. Reports Second Quarter 2020

Unaudited Financial Results

SHENZHEN, China, August 18, 2020 (GLOBE NEWSWIRE)/— LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading online consumption and consumer finance platform for new generation consumers in China, today announced its unaudited financial results for the quarter ended June 30, 2020.

Second Quarter 2020 Operational Highlights:

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Second Quarter 2020 Financial Highlights:

“I am happy to announce a quarter of strong growth driven by our New Consumption Platform Strategy and a continuing recovery of China’s consumer market. Our efforts to serve customers’ broader consumption needs have begun to pay off, with our platform-based services income in the quarter more than doubled from a year earlier,” said Mr. Jay Wenjie Xiao, Lexin’s chairman and chief executive officer.

“We started as a consumer finance platform, and have now become a comprehensive consumption service provider, connecting our customers with financial institutions and retail merchants both online and offline. In this ecosystem, we offer not only credit services, but also membership-based privileges to our customers; we provide financial institutions with fintech services and retail merchants with consumer finance tools and customer management services. With that, we combine consumer finance, membership services, and fintech services in one ecosystem, marking a gradual evolution of our business model,” Mr. Xiao added. “As the China Banking and Insurance Regulatory Commission officially acknowledged the loan facilitation model of fintech platforms in July and domestic consumption continues to recover, we believe that Lexin is well positioned to benefit from market consolidation and further tap the potential of Chinese consumer market,” Mr. Xiao said.

“Our major key metrics for our businesses continue to improve, and we are seeing a continued recovery from the COVID-19 pandemic,” said Mr. Craig Yan Zeng, Lexin’s chief financial officer, “We performed strongly for the quarter and are very much on track to achieve our full year loan origination guidance. Our total loan originations for the quarter reached over RMB41.1 billion and we successfully returned to profitability with net income of RMB419 million. In addition, more funding partners have now accepted our loan-performance-based facilitation and servicing fee model, and we have made continued progress in lowering the borrowing rates required by our institutional funding partners.”

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“In spite of the challenges in the industry and to the economy, our credit performance and credit quality continues to be stable and within our expectations,” said Mr. Ryan Huanian Liu, Lexin’s chief risk officer, “Our vintage charge-off rates⁷ is within expectations at approximately 4.5%, and our 90 day+ delinquency rate was 2.99% as of June 30, 2020. We expect to continue to perform strongly within the current credit cycle, and we expect that our credit statistics should begin to improve in the third quarter and in the future as we exit the current credit cycle.”

Second Quarter 2020 Financial Results:

Operating revenue increased from RMB2,493 million in the second quarter of 2019 to RMB2,958 million in the second quarter of 2020. This increase in operating revenue was due to an increase in credit-oriented services income and platform-based services income for the quarter, driven by continuing increases in the number of active users on our platform, and the change of the presentation of guarantee income along with the adoption of ASC 326, partially offset by the decrease in online direct sales and services income. Before the adoption of ASC 326, gain or loss related to financial guarantee not accounted for as derivatives was recorded in one combined financial statement line item within “Gain on guarantee liabilities, net.” After the adoption of ASC 326, the gain released from the guarantee liabilities accounted for under ASC 460 is recorded as “Guarantee income” as a separate financial statement line item within revenue and the relevant credit losses are recorded as “Provision for credit losses of contingent liabilities of guarantee.”

Online direct sales decreased by 43.6% from RMB925 million in the second quarter of 2019 to RMB522 million in the second quarter of 2020. This decrease was primarily due to the decrease in the average consumer spending per order as a result of the impact of the COVID-19 pandemic during the second quarter of 2020.

Credit-oriented services income increased by 48.8% from RMB1.3 billion in the second quarter of 2019 to RMB2.0 billion in the second quarter of 2020. The increase was primarily resulted from the increase of RMB706 million due to change of presentation of guarantee income as aforementioned, partially offset by the decrease in loan facilitation and servicing fees-credit oriented.

Loan facilitation and servicing fees-credit oriented decreased by 7.7% from RMB1,009 million in the second quarter of 2019 to RMB931 million in the second quarter of 2020. This decrease was primarily due to the Company’s business strategy shift to increase the loan originations under platform-based model.

Guarantee income for the second quarter of 2020 was RMB706 million. The guarantee liabilities accounted for under ASC 460 are released from the underlying risk, i.e., as the underlying loan is repaid by the borrower or when the lender is compensated in the event of a borrower’s default.

Interest and financial services income and other revenues increased by 5.5% from RMB314 million in the second quarter of 2019 to RMB332 million in the second quarter of 2020, which was consistent with the increase in the origination of on-balance sheet loans in the second quarter of 2020.

Platform-based services income increased by 109% from RMB200 million in the second quarter of 2019 to RMB419 million in the second quarter of 2020. This increase was primarily contributed by an increase in the loan facilitation and servicing fees-performance based, partially offset by the decrease in loan facilitation and servicing fees-volume based.

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Loan facilitation and servicing fees-performance based increased by 171% from RMB145 million in the second quarter of 2019 to RMB394 million in the second quarter of 2020. This increase was primarily due to an increase in the origination of off-balance sheet loans under the performance-based model within platform-based services.

Cost of sales decreased by 43.8% from RMB925 million in the second quarter of 2019 to RMB520 million in the second quarter of 2020, which is consistent with the decrease of online direct sales revenue.

Funding cost increased by 35.4% from RMB121 million in the second quarter of 2019 to RMB163 million in the second quarter of 2020, which was consistent with the increase of the funding debts to fund the on-balance sheet loans.

Processing and servicing cost increased by 158% from RMB138 million in the second quarter of 2019 to RMB356 million in the second quarter of 2020. This increase was primarily due to an increase in fees to third-party insurance companies and guarantee companies, an increase in fees to third-party payment platforms, an increase in risk management expenses, an increase in credit assessment cost, and an increase in salaries and personnel related costs.

Provision for credit losses of financing receivables decreased by 34.0% from RMB183 million in the second quarter of 2019 to RMB121 million in the second quarter of 2020. The decrease has reflected the most recent performance in relation to the Company’s on-balance sheet loans as the Company has continued to implement prudent credit assessment and risk management policies and procedures since the beginning of this year.

Provision for credit losses of contract assets and receivables increased by 130% from RMB26.4 million in the second quarter of 2019 to RMB60.8 million in the second quarter of 2020. This increase was mainly due to the significant increase in off-balance sheet loans originated as a result of the continuing growth of our business, earlier recognition of credit losses under ASC 326 as well as negative impact of the ongoing COVID-19 pandemic started in 2020.

Provision for credit losses of contingent liabilities of guarantee was RMB769 million in the second quarter of 2020. After the adoption of ASC 326 on January 1, 2020, a separate contingent liability in full amount determined using current expected credit losses (“CECL”) lifetime methodology is accounted for in addition to and separately from the guarantee liabilities accounted for under ASC 460, and relevant credit losses are recorded as “Provision for credit losses of contingent liabilities of guarantee.” Before the adoption of ASC 326, gain or loss related to such financial guarantee was recorded in one combined financial statement line item within “Gain on guarantee liabilities, net.”

Gross profit decreased by 11.9% from RMB1,099 million in the second quarter of 2019 to RMB968 million in the second quarter of 2020. The decrease in the gross profit is primarily due to the significant increase of processing and servicing cost, provision for credit losses of contract assets and receivables and provision for credit losses of contingent liabilities of guarantee.

Sales and marketing expenses increased by 3.8% from RMB316 million in the second quarter of 2019 to RMB327 million in the second quarter of 2020. This increase was primarily due to an increase in online promotional fees and advertising costs and an increase in amortization and depreciation expenses allocated to sales and marketing expense.

Research and development expenses increased by 35.0% from RMB99.7 million in the second quarter of 2019 to RMB135 million in the second quarter of 2020. This increase was primarily due to an increase in salaries and personnel related costs and an increase in amortization and depreciation expenses allocated to research and development expenses.

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General and administrative expenses increased by 21.0% from RMB94.1 million in the second quarter of 2019 to RMB114 million in the second quarter of 2020. This increase was primarily due to an increase in salaries and personnel related costs and an increase in share-based compensation expenses.

Change in fair value of financial guarantee derivatives was a gain of RMB79.2 million in the second quarter of 2020, as compared to a gain of RMB114 million in the second quarter of 2019. The gain was primarily due to the realization of gains through our performance of the guarantee.

Income tax expense for the second quarter of 2020 was RMB76.6 million, as compared to income tax expense of RMB106 million in the second quarter of 2019. The decrease was consistent with the decrease of the taxable income from the same period of 2019.

Net income for the second quarter of 2020 was RMB419 million, representing a decrease of 33.3% from RMB628 million in the second quarter of 2019.

Adjusted net income for the second quarter of 2020 was RMB453 million, representing a decrease of 32.5% from RMB671 million in the second quarter of 2019.

Please click here to view our vintage curve:

http://ml.globenewswire.com/Resource/Download/bff8d4b0-45ab-4e24-bb2f-2802fc7c8d70

Outlook

Based on Lexin’s preliminary assessment of the current market conditions, the Company expects third quarter loan originations to be over RMB48 billion and reiterates total loan origination guidance for fiscal year 2020 to be between RMB170 billion and RMB180 billion. This is Lexin’s current and preliminary view, which is subject to changes and uncertainties.

Conference Call

The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern time on August 18, 2020 (7:00 PM Beijing/Hong Kong time on August 18, 2020).

Participants who wish to join the conference call should register online at:

http://apac.directeventreg.com/registration/event/6562599

Please note the Conference ID number of 6562599.

Once registration is completed, participants will receive the dial-in information for the conference call, an event passcode, and a unique registrant ID number.

Participants joining the conference call should dial-in at least 10 minutes before the scheduled start time.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.lexin.com.

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A replay of the conference call will be accessible approximately two hours after the conclusion of the live call until August 25, 2020, by dialing the following telephone numbers:

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a leading online consumption and consumer finance platform for new generation consumers in China. The Company provides a range of services including financial technology services, membership benefits, and a point redemption system through its ecommerce platform Fenqile and membership platform Le Card. The Company works with financial institutions and brands both online and offline to provide a comprehensive consumption ecosystem catering to the needs of young professionals in China. Lexin utilizes advanced technologies such as big data, cloud computing and artificial intelligence throughout the Company’s services and operations, which include risk management, loan facilitation, and the near-instantaneous matching of users’ funding requests with offers from the Company’s many funding partners.

For more information, please visit http://ir.lexin.com

To follow us on Twitter, please go to: https://twitter.com/LexinFintech.

Use of Non-GAAP Financial Measures Statement

In evaluating our business, we consider and use adjusted net income/(loss), non-GAAP EBIT, adjusted net income/(loss) per ordinary share and per ADS, four non-GAAP measures, as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted net income/(loss) as net income/(loss) excluding share-based compensation expenses, interest expense associated with convertible notes, and investment loss/(income) and we define non-GAAP EBIT as net income/(loss) excluding income tax expense/(benefit), share-based compensation expenses, interest (income)/expense, net, and investment loss/(income).

We present these non-GAAP financial measures because it is used by our management to evaluate our operating performance and formulate business plans. Adjusted net income/(loss) enables our management to assess our operating results without considering the impact of share-based compensation expenses, interest expense associated with convertible notes and investment loss/(income). Non-GAAP EBIT, on the other hand, enables our management to assess our operating results without considering the impact of income tax expense/(benefit), share-based compensation expenses, interest (income)/expense, net, and investment loss/(income). We also believe that the use of these non-GAAP financial measures facilitates investors’ assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP.

These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using adjusted net income/(loss) and non-GAAP EBIT is that they do not reflect all items of income and expense that affect our operations. Share-based compensation expenses, interest expense associated with convertible notes, income tax expense/(benefit), interest (income)/expense, net, and investment loss/(income) have been and may continue to be incurred in our business and are not reflected in the presentation of adjusted net income/(loss) and non-GAAP EBIT. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

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We compensate for these limitations by reconciling the non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate Information Statement

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.0651 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on June 30, 2020. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

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. Statements that are not historical facts, including statements about Lexin’s beliefs and expectations, are forward-looking statements. 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. 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

E-mail: IR@lexin.com

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Media inquiries:

Limin Chen

Tel: +86 (755) 3637-8888 ext. 6993

E-mail: liminchen@lexin.com

SOURCE LexinFintech Holdings Ltd.

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LexinFintech Holdings Ltd.

Unaudited Condensed Consolidated Balance Sheets

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Before the adoption of ASC 326, the guarantee liabilities subsequent to initial recognition were measured at the greater of the amount determined based on ASC 460 and the amount determined under ASC 450. An excess liability was recorded when the aggregate contingent liabilities under ASC 450 exceeded the balance of guarantee liabilities determined under ASC 460.

After the adoption of ASC 326, a contingent liability in full amount determined using CECL lifetime methodology of the guarantee (i.e., the contingent aspect recorded as “Contingent guarantee liabilities”) shall be accounted for in addition to and separately from the guarantee liability (i.e., the noncontingent aspect recorded as “Deferred guarantee income”) accounted for under ASC 460.

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LexinFintech Holdings Ltd.

Unaudited Condensed Consolidated Statements of Operations

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In providing credit-oriented services, we originate on-balance sheet loans, or facilitate the loan origination of off-balance loans where we also provide guarantee services. Consequently, we take all credit risks of borrowers in respect of on-balance sheet loans, and off-balance sheet loans through the relevant guarantee arrangements. By nature, revenue earned from off-balance sheet loans where we also provide guarantee services is recorded as “Loan facilitation and servicing fees-credit oriented” and “Guarantee income,” and interest income and other fees from on-balance sheet loans is recorded as “Interest and financial services income and other revenues.”

In providing platform-based services, we do not provide guarantee services and take no credit risks of borrowers in respect of principal and interests due to the lenders for off-balance sheet loans we facilitate. We either charge the service fees for loan facilitation and servicing at predetermined rates based on the performance of the underlying off-balance sheet loans, which we refer to as performance-based model, or charge the service fees at predetermined rates of amount of loan originations upon successful matching of borrowing requests, which we refer to as volume-based model.

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Revenue from “Loan facilitation and servicing fees-credit oriented,” “Loan facilitation and servicing fees-performance based” and “Loan facilitation and servicing fees-volume based” were previously reported as one combined financial statement line item as “Loan facilitation and servicing fees” before the change of presentation.

For online direct sales and services income, we report the premium membership fees for our membership packages as “Membership services,” and the commission fee earned from third-party sellers for the online marketplace services we rendered and other services revenue as “Other services” within “Online direct sales and services income.” The premium membership fees, commission fee earned from third-party sellers and other services revenue were previously reported as “Services and others” within “Online direct sales and services income” before the change of presentation.

Before the adoption of ASC 326, gain or loss related to guarantee liabilities accounted for under ASC 460 was recorded in one combined financial statement line item within “Gain on guarantee liabilities, net.”

After the adoption of ASC 326, the gain released from the guarantee liabilities accounted for under ASC 460 is recorded as a separate financial statement line item within revenue as “Guarantee income” and the relevant credit losses of guarantee are recorded as “Provision for credit losses of contingent liabilities of guarantee.”

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LexinFintech Holdings Ltd.

Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss)

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LexinFintech Holdings Ltd.

Unaudited Reconciliations of GAAP and Non-GAAP Results

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LexinFintech Holdings Ltd.

Unaudited Reconciliations of GAAP and Non-GAAP Results

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