Artificial Intelligence
LexinFintech Holdings Ltd. Appoints Chief Risk Officer
SHENZHEN, China, July 16, 2021 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading online consumption and finance platform for new generation consumers and users in China, today announced the appointment of Mr. Jayden Yang Qiao as the Company’s chief risk officer, effective July 15, 2021.
Mr. Qiao joined Lexin earlier this year as the Company’s vice president, responsible for Lexin’s risk management. Since joining Lexin, Mr. Qiao has built out a high-quality credit risk control team and enhanced Lexin’s credit control system, further driving the continued improvement in the Company’s credit quality. As reported in the Company’s financial results for the first quarter, Lexin’s 90 day+ delinquency rate1 was at 1.84% as of March 31, 2021 and the first payment default rate (30 day+)2 has been below 1% for 8 months as of March 31, 2021, effectively resolving the pandemic-related risks while maintaining a high level of performance. To date as of the end of the 2nd quarter, Lexin’s coincident 1+ days past due3 is at 4.92%, as compared to last year’s 8.08% for the same period, representing a 40% decrease. The Company’s latest recovery rates for bad debts4 has reached an all-time high, improving by 30% as compared to the same period last year.
1 90 day+ delinquency ratio refers to outstanding principal balance of on- and off-balance sheet loans that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans on our platform as of a specific date. On-balance sheet loans that were over 179 calendar days past due and charged off are not included in the delinquency rate calculation. Off-balance sheet loans that were over 179 calendar days past due are assumed charged off and not included in the delinquency rate calculation. The Company does not distinguish on the basis of the on- or off-balance sheet treatment in monitoring the credit risks of borrowers and the delinquency status of loans.
2 Loan balance with first payment day past due 30+ over total loan origination.
3 Coincident 1+ days past due refers to outstanding principal balance of on- and off-balance sheet loans that were 1 to 179 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans on our platform as of a specific date. On-balance sheet loans that were over 179 calendar days past due and charged off are not included in the delinquency rate calculation. Off-balance sheet loans that were over 179 calendar days past due are assumed charged off and not included in the delinquency rate calculation. The Company does not distinguish on the basis of the on- or off-balance sheet treatment in monitoring the credit risks of borrowers and the delinquency status of loans.
4 Actual recovered amounts divided by cumulative bad debts at the beginning of the month.
Mr. Qiao has over 15 years of experience in a variety of management positions in leading multinational and technology companies in different countries. Prior to joining Lexin, Mr. Qiao held various senior positions with JD Digits from 2016 to 2020, including as the chief executive offer of JD Digits’ subsidiary, ZRobot. From 2015 to 2016, Mr. Qiao was the co-founder and chief risk officer of Shanghai Niuwa Internet Financial Information Service. From 2006 to 2015, Mr. Qiao held various senior managerial and other positions with Discover Financial Services in both the U.S. and China. In addition, Mr. Qiao is the holder of numerous patents and copyrights for his inventions. Mr. Qiao received his bachelor’s degree in economics from the University of Colorado, his dual master’s degree in business administration and economics from the University of Iowa, and a master’s degree in computer science from the University of Chicago. In addition, Mr. Qiao is also a member of the expert advisory committee of the Chartered Global Financial Technology Master project at the Shanghai Advanced Institute of Finance (SAIF) of Shanghai Jiaotong University, a member of the “Young Experts” of the Internet Society of China (ISC), and a member of the evaluation committee of the Shenzhen Credit Professionals Association.
“We are delighted to promote Mr. Qiao as our new chief risk officer,” said Mr. Jay Wenjie Xiao, Lexin’s chairman and chief executive officer. “Mr. Qiao’s promotion is a reflection of our strong focus on risk control, and the confidence we have in our current and future asset quality. We believe Mr. Qiao will further use his expertise in his new role as the chief risk officer to further improve, enhance, and develop our risk control systems.”
“I am honored by the opportunity to become Lexin’s chief risk officer,” said Mr. Qiao. “I look forward to my new role and the opportunity to further improve our credit quality and deliver value for our shareholders.”
About LexinFintech Holdings Ltd.
LexinFintech Holdings Ltd. is a leading online consumption and finance platform for new generation consumers and users in China. The Company provides a comprehensive range of consumption, financial and business services including financial technology services, “buy now pay later” (“BNPL”) services, and membership benefits through its ecommerce platform Fenqile, BNPL product Maiya, 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, and other consumption and financial services.
For more information, please visit http://ir.lexin.com
To follow us on Twitter, please go to: https://twitter.com/LexinFintech.
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
E-mail: [email protected]
Media inquiries:
Limin Chen
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: [email protected]
SOURCE LexinFintech Holdings Ltd.
Artificial Intelligence
Jean-Michel Jarre is world’s first passenger to take off in KleinVision’s flying AirCar
PIESTANY, Slovakia, April 24, 2024 /PRNewswire/ — Godfather of electronic music and innovator Jean-Michel Jarre becomes world’s first passenger to take off in KleinVision’s flying AirCar in preparation for Starmus Opening Concert also Featuring Sir Brian May of Queen.
KleinVision’s AirCar took to the skies with electronic music pioneer, Jean-Michel Jarre as its first passenger this month, signaling a new era of transportation innovation. AirCar, which received the Certificate of Airworthiness in January 2022, has already logged an impressive 130 flight hours and over 520 takeoffs.
“It is like being in a Jules Verne book, but for real! One second you speak to the driver, and next, you are up there in the air – an amazing experience!” said Jean-Michel Jarre after completing two flights in the AirCar at Piestany international airport.
The artist’s excitement was palpable as he marveled at the futuristic experience, perfectly reflecting the theme of his upcoming Starmus opening concert, ‘The Bridge from the Future’, powered by ESET, global digital security leader.
“AirCar addition to Starmus is a fantastic complement to our festival experience,” said Garik Israelian, PhD, astrophysicist at the Institute of Astrophysics of the Canary Islands and co-founder of Starmus, alongside Sir Brian May. “It mirrors the exhilarating journey we embark on, starting with Jean-Michel and Brian’s monumental concert that propels us to new heights, soaring alongside artists and inspiring thinkers like Jane Goodall, and coming back to Earth with the wisdom of astronaut Chris Hadfield once the festival concludes.”
“AirCar will not only be part of the Starmus opening concert, it will also be showcased at Starmus Camp, which, together with the Stephen Hawking Medal Ceremony and nine Nobelists giving lectures, will turn Bratislava into the world capital of science.”
Film director Todd Douglas Miller, Emmy Award-winning filmmaker of Apollo 11, captured the historic moment as he filmed the AirCar soaring at 2500 feet. “It looks impossible. It looks like it’s doing something it should not be doing!” Miller remarked, highlighting the groundbreaking nature of AirCar.
Professor Stefan Klein, inventor and pilot, expressed his pride as Jean-Michel became the inaugural passenger on the groundbreaking aircraft. “From dreams to reality, we have taken flight together with Jean-Michel, opening a new era of transportation with a touch of magic,” said Klein, moments before completing another successful intercity flight from Piestany to Nitra.
Anton Zajac, co-founder of KleinVision and ESET, lauded the advancement the AirCar represents in blurring the lines between roads and skies. “We are bridging the gap between the road and the sky, giving cars the freedom they symbolized 50 years ago,” Zajac remarked.
The flights took place in Piestany, Slovakia, and marked a momentous step towards a future where terrestrial and aerial travel seamlessly converge.
To see the short footage of the flight, click here.
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View original content:https://www.prnewswire.co.uk/news-releases/jean-michel-jarre-is-worlds-first-passenger-to-take-off-in-kleinvisions-flying-aircar-302124769.html
Artificial Intelligence
SUPCON Unveils Groundbreaking Products in June, Including the World’s First UCS
HANGZHOU, China, April 24, 2024 /PRNewswire/ — In June, SUPCON (688777) is poised to launch two groundbreaking products in Singapore: the world’s first UCS (Universal Control System) and TPT (Time-Series Pre-trained Transformer), the first time-series model in the process industry.
UCS, a revolutionary innovation from SUPCON, is set to revolutionize the 50-year-old DCS architecture, promising to eliminate traditional control cabinets.
TPT, as the pioneering time-series model in the process industry, will replace numerous traditional industrial apps and overcome unsolved industrial challenges.
SUPCON, founded in 1999, is a prominent global provider of intelligent manufacturing solutions for process industries. The company is committed to the development and application of AI technology through the integration of advanced products and extensive industry know-how. With a global customer exceeding 30,000, SUPCON’s products address all needs across over 50 countries and regions, encompassing sectors like oil & gas, refinery & petrochemical, chemical, etc. Aiming at high-quality and sustainable development, SUPCON is on the way to facilitate the automation and intelligentization of the global process industry.
In 2023, SUPCON’s core products, the Distributed Control System (DCS) and the Safety Instrumented System (SIS), both claimed the top market share position in China, achieving respective figures of 37.8% and 33.7%. Notably, the DCS has maintained the No.1 position for a consecutive 13th year.
View original content:https://www.prnewswire.co.uk/news-releases/supcon-unveils-groundbreaking-products-in-june-including-the-worlds-first-ucs-302125406.html
Artificial Intelligence
Automation Anywhere Appoints Tim McDonough as Chief Marketing Officer to Drive Global Awareness and Growth for the Leader in AI-Powered Automation
SAN JOSE, Calif., April 23, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation solutions, announced that AI marketing leader Tim McDonough joined the company as chief marketing officer (CMO). McDonough, who brings more than two decades of experience in driving growth across startups and Fortune 100 companies, will shape and lead Automation Anywhere’s global brand and growth strategies and go-to-market functions.
McDonough joins Automation Anywhere from Intel, where he recently served as vice president and CMO of AI and data centers. McDonough oversaw the transformation of the $14 billion-plus business unit, while guiding the company’s strategy and positioning in the AI market.
“Tim joins us at an incredible time in our journey as we experience a new phase of growth ignited by the transformative benefits of our generative AI process automation models that are transforming our customers’ businesses,” said Mihir Shukla, CEO, Automation Anywhere. “Tim’s impressive experience will be instrumental in our efforts to empower organizations to achieve amazing results by automating more than forty percent of workflows and tasks, and saving millions, even billions, of dollars.”
Prior to Intel, McDonough held executive roles at leading technology companies, including Unity Technologies, Qualcomm, and Microsoft. McDonough’s track record of enterprise and C-suite marketing spans developed and emerging technologies, including AI tools, applications, software-as-a-service (SaaS) solutions, and developer ecosystems.
“I’m looking forward to helping lead Automation Anywhere through its next phase growth as it helps companies transform their business,” said McDonough. “Seeing how customers are innovating with Automation Anywhere’s platform demonstrated to me the incredible market opportunity we have. When you combine automation with generative AI, customers can now go beyond task or departmental impact and automate at an enterprise level, empowering companies and employees to do their very best work.”
McDonough’s appointment comes at a time of remarkable opportunity for the company, marked by Automation Anywhere’s recent record-breaking fourth-quarter performance, continued profitability, and strong outlook in its current fiscal year. Last quarter, Automation Anywhere reported 50 percent growth in large enterprise deals from the previous quarter, highlighting the company’s momentum and strong market position.
About Automation Anywhere
Automation Anywhere is the leader in AI-powered process automation that puts AI to work across organizations. The company’s Automation Success Platform is powered with generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through AI automation. Learn more at http://www.automationanywhere.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/automation-anywhere-appoints-tim-mcdonough-as-chief-marketing-officer-to-drive-global-awareness-and-growth-for-the-leader-in-ai-powered-automation-302125158.html
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