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You can save an awful lot of money on a Tesla Cybertruck if you’re OK with it not working. A broken-down example of the electric pickup that went viral after it was abandoned on the streets of Seattle is heading to auction soon, according to Jalopnik . The EV is expected to sell for a fraction of its original cost despite the fame it achieved online earlier this year. Elon Musk loves a meme, so much so that he spent $44 billion on the social media platform formerly known as Twitter last year. Still, we imagine he wasn’t too fond of one starring the Cybertruck that started doing rounds in the less Tesla -friendly corners of the internet this summer. At the beginning of September, pictures of a mangled Cybertruck parked on a residential street in Seattle started popping up on Reddit. It was never quite clear who owned the pickup—which was quickly dubbed the “Cyberstuck,” after the subreddit where pictures of it were most frequently posted—but it was abundantly clear that it wasn’t going anywhere. Photos showed a rear driver-side wheel bent at an unnatural angle, a busted suspension, and an exposed charging port. The Cybertruck elicits strong reactions and the Cyberstuck was no different. So many people flocked to the vehicle’s parking spot to point and laugh at it, that it became its own tourist attraction with its own Google Map pin and everything. Eventually, the fun came to an end, after the truck was towed away one night under the cover of dark. Now, two months later, we know what happened to the pickup. It’s now popped up on Copart , a popular online auction platform that sells “used, wholesale and repairable vehicles,” i.e. cars in serious need of work. It’s unclear when the vehicle will go up for bid—a note on the website says it has yet to be assigned an auction and is not eligible for bidding—but it lists its value at $31,156.00. That’s less than half the cost of the least expensive Cybertruck (which starts at $79,990) and a third of the price of the current range-topping Cyberbeast ($99,990). Hopefully, the original owner had a good insurance plan. The Cyberstuck isn’t the only Cybertruck up for auction on Copart right now. A quick search of the site shows 13 listings as of press time. Bidding for an example located in Tampa, Florida , with an estimated value of $4,925 has already eclipsed $40,000 with less than 24 hours of bidding to go.Following the directive of the political echelon, the IDF, through COGAT’s Coordination and Liaison Administration for Gaza (CLA), continues to act per international law to facilitate and support humanitarian responses for Gaza residents, particularly in the medical field. Accordingly, on Saturday, in coordination with the CLA for Gaza, 17 patients and their caregivers were transferred from Kamal Adwan Hospital to other hospitals in the Gaza Strip via two ambulances. This transfer was carried out as a part of the IDF and health authorities' request to safely evacuate hospitals in the area to protect residents along humanitarian evacuation routes and operational medical centers in the Gaza Strip. 323 patients, caregivers, and medical staff have been transferred from hospitals in the northern Gaza Strip over the past few weeks. Additionally, Kamal Adwan Hospital has received 60,000 liters of fuel, 230 crates of medical supplies and medication, 180 blood units, and eight trucks of food and water in recent weeks.What is Robert F. Kennedy Jr.'s net worth?
Penn State kicks off Sunshine Slam by cruising past FordhamKLM Uses Pilot Controlled Tow 'Taxibot' On First Passenger Flight At Schiphol AirporBroncos, left tackle Garett Bolles agree on 4-year extension to protect rookie quarterback Bo Nix DENVER (AP) — The Denver Broncos signed left tackle Garett Bolles to a four-year extension on Thursday, locking up a big piece to protect rookie quarterback Bo Nix. Canadian Press Dec 12, 2024 2:54 PM Dec 12, 2024 3:05 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Denver Broncos place-kicker Wil Lutz (3) is congratulated by offensive tackle Garett Bolles after a field goal during the second half of an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey) DENVER (AP) — The Denver Broncos signed left tackle Garett Bolles to a four-year extension on Thursday, locking up a big piece to protect rookie quarterback Bo Nix. Bolles has spent his entire career with the organization after being drafted out of Utah with the 20th overall pick in 2017. He has a chance this season to help the Broncos into the postseason for the first time since they won Super Bowl 50 after the 2015 season. The Broncos (8-5) are currently in the seventh and final playoff spot in the AFC. They can put some distance between them and Indianapolis on Sunday (6-7) with a win over the Colts. After an up-and-down start in Denver, Bolles has developed into a dependable pass protector. He's allowed one sack and 24 quarterback pressures over 13 starts this season. What's more, his 4.9 percent quarterback pressure rate is the second-lowest mark among tackles with at least 200 pass blocking snaps this season, according to NextGen Stats. With time to scan the field, Nix leads all rookies in completions (277), yards passing (2,842), offensive touchdowns (22) and passing touchdowns (17). Bolles earned second-team Associated Press All-Pro honors after the 2020 season. On social media , Bolles posted: “Broncos Country, It’s been a great 8 years! Thanks for everything! And ... I’m not leaving. The show goes on!” Since 2017, Bolles has allowed the sixth-fewest sacks (36) among tackles with at least 3,100 snaps. The extension of Bolles means the Broncos have all five starting offensive linemen on board through next season. Guard Quinn Meinerz agreed to four-year contract extension in July. The Broncos also signed cornerback Patrick Surtain II to a four-year contract extension in September worth $96 million, including $77.5 million in guarantees. Linebacker Jonathon Cooper agreed to a four-year, $60 million extension in November. ___ AP NFL: https://apnews.com/hub/nfl The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Football (NFL) Rested Ravens are a big favorite over struggling Giants, who are mired in an 8-game losing streak Dec 12, 2024 5:03 PM Lions and Bills meet in matchup of odds-on Super Bowl favorite and a top contender Dec 12, 2024 5:00 PM Lions aim to extend franchise-record winning streak to 12 against AFC East champion Bills Dec 12, 2024 5:00 PM
CHARLOTTE, N.C. — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. "Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them," Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's "take-it-or-leave-it" final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as "open" teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was "primarily related to our ongoing lawsuit with NASCAR," Freeze said. "NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit," Freeze said. "NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved." A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing "new circumstances" in a renewed motion for an injunction and of a "coordinated effort behind the scenes." "This is completely false," Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. "23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing," Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. "It is not hypocritical to operate within the only system available while striving for excellence and contending for championships," he continued. "It is a necessity because NASCAR's monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level." Be the first to know Get local news delivered to your inbox!
DALLAS , Nov. 26, 2024 /PRNewswire/ -- Solidion Technology, Inc. (NASDAQ: STI), an advanced battery materials provider is excited to announce the signing of a strategic Memorandum of Understanding (MOU) with Giga Solar Materials Corp. , materials manufacturer out of Taiwan . The partnership represents a significant step forward in accelerating the production of innovative Silicon Oxide (SiOx) anode materials in the United States and playing a leading role in securing a robust lithium battery materials supply chain in North America . Leveraging Solidion's 550+ patent portfolio and advanced R&D capabilities, the collaboration with Giga Solar , and the previously announced partnership with Bluestar Materials Company , will focus on a total solution of high-quality SiOx anode materials. Foxconn, the global electronics manufacturer contracted by Apple among many others, previously invested $36 million through Giga Storage Corp, a subsidiary in an EV partnership with Giga Solar . Silicon and Silicon Oxide are now viewed by many as a more favored solution for battery technology over solid-state technology. These advanced materials offer a fivefold increase in specific capacity compared to traditional graphite anodes, while maintaining safety and stability, a critical step forward for improving the energy density and performance of lithium-ion batteries. Enhanced anode technology like this is vital to extending the durability and range of electric vehicles (EVs), addressing one of the most significant challenges in the EV industry. The MOU also positions Solidion and Giga Solar , who already have approximately 100 Metric Tons per Annum (MTPA) capacity in Taiwan , to explore U.S. based manufacturing opportunities and market strategies for commercializing advanced SiOx solutions. With the growing demand for EVs and energy storage systems, Silicon Oxide is emerging as a preferred anode material, offering significant advantages over conventional battery technologies. signing Solidion's partnership with Giga Solar is expected to bring significant benefits, including: About Solidion Technology Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio , Solidion's (NASDAQ: STI) core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation. Solidion holds a portfolio of over 550 patents, covering innovations such as high-capacity, non-silane gas and graphene-enabled silicon anodes, biomass-based graphite, advanced lithium-sulfur and lithium-metal technologies. About Giga Solar Materials Corp. Headquartered in Hsinchu, Taiwan , with production facilities in both Taiwan and China , Giga Solar's (3691.TWO) core business includes the manufacturing of conductive paste for PV cells and electronic components. Being one of the top 3 conductive paste manufacturers, Giga Solar also focuses on the development and production of next-generation materials for battery applications. About Bluestar Materials Company Bluestar Materials Inc. is a materials and process design company founded by Professor Chung-Wen Lan at National Taiwan University (NTU), specializing in developing production technologies for next-generation battery materials. The company's first silicon monoxide (SiO) production facility has been successfully implemented and is currently utilized by Giga Solar . Additionally, innovative and cost-effective technology for amorphous silicon is under development. Forward-Looking Statements This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of Solidion's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Solidion's actual results to differ materially from those described in the forward-looking statements can be found in Solidion's Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 , which have been filed with the Securities and Exchange Commission and are available on Solidion's website, and on the Securities and Exchange Commission's website ( www.sec.gov ). Solidion does not undertake to update any forward-looking statements.
The GOAT is a big fan of superstar Minnesota Vikings wide receiver Justin Jefferson. Tom Brady, the seven-time Super Bowl champion who now serves as the lead NFL color commentator for FOX, recently answered a fan question on social media that Vikings fans will want to see. Brady was asked which current NFL wide receiver that he never played with would he most want to throw to. He initially mentioned Cincinnati Bengals star Ja’Marr Chase as an honorable mention, before naming Jefferson as his pick. Here was the GOAT’s full explanation: “He can do everything from any spot on the field. He goes deep. He goes short. He can catch the ball, catch and run, touchdowns, third downs. He’s a ridiculous player. He reminds me so much of my former teammate and Viking: Randy Moss. So if it comes down to choosing only one, he would be the one right now.” If @TomBrady could throw to any current receiver in the league, who would he choose? 👀✈️ pic.twitter.com/BJ6oPuW1MC That’s high praise for Jefferson, who’s been absurdly productive over his first four-plus NFL seasons. He’s averaging 96.8 receiving yards per game overall, which puts him well on pace to have a Moss-like, Hall of Fame career. Moss averaged 70.1 yards per game over his illustrious 17-year career. Jefferson has already clinched his fifth consecutive 1,000-yard season. He accomplished the feat in 2023 (1,074) despite a carousel of quarterbacks and a hamstring injury that limited him to just 10 games. As long as he stays healthy, the Vikings will be a problem for oppositing defenses no matter who is under center. Related Minnesota Vikings stories: Kirk Cousins sounds off on Sam Darnold, loss to Vikings in return to Minnesota Insider: Vikings should plan for future, land 6-foot-3 lockdown corner in 2025 NFL Draft Analyst drops bold take on Sam Darnold, J.J. McCarthy’s future as Vikings starter Vikings should pay Sam Darnold, follow Packers model at QB with J.J. McCarthyCHARLOTTE, N.C. — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. "Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them," Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's "take-it-or-leave-it" final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as "open" teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was "primarily related to our ongoing lawsuit with NASCAR," Freeze said. "NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit," Freeze said. "NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved." A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing "new circumstances" in a renewed motion for an injunction and of a "coordinated effort behind the scenes." "This is completely false," Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. "23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing," Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. "It is not hypocritical to operate within the only system available while striving for excellence and contending for championships," he continued. "It is a necessity because NASCAR's monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level."
SHENZHEN, China, Nov. 25, 2024 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. ("Lexin” or the "Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced its unaudited financial results for the quarter ended September 30, 2024. "Total loan origination for the third quarter reached approximately RMB51.0 billion, remaining stable on a quarter-over-quarter basis, but reflecting a 19.5% decrease year-over-year. The outstanding loan balance was RMB111.2 billion, down by 3.4% quarter-over-quarter and by 7.8% year-over-year. These figures align with the guidance we provided earlier, reflecting our prudent operational principles amid the challenges of a sluggish macroeconomic recovery,” said Jay Wenjie Xiao, Chairman and CEO of Lexin. "However, despite the trend of a declining loan volume, our net profit reached RMB310 million, a substantial increase of 36.7% compared to RMB227 million in the previous quarter.” "Improved profitability is part of a strong set of operational and financial results we delivered this quarter, demonstrating that we are well on track for a comprehensive business turnaround.” "During the past quarter, our persistent efforts in executing transformation strategies led to a record low funding cost, gradual improvement in asset quality, and a substantial increase in new users with approved credit lines.” "Considering the gradual business recovery, we remain committed to returning more value to shareholders. The Board has approved an amended dividend payout policy, increasing the payout ratio to 25% of net profit starting in 2025.” "Looking ahead, while we are cautious about the short-term economic outlook and anticipate that the recently released government stimulus measures targeting at an economic recovery will gradually take effect, we remain confident in Lexin's ability to navigate through uncertainties and sustain the recovery momentum by delivering solid results quarter by quarter,” Concluded Mr. Xiao. "During the past quarter, we have delivered another set of robust financial results,” said Mr. James Zheng, Chief Financial Officer of Lexin. "The third quarter's total operating revenue reached approximately RMB3.7 billion, up by 4.4% year-over-year and stable quarter-over-quarter. Net profit for the third quarter reached RMB310 million, a substantial growth of 36.7% compared to the previous quarter. This significant increase in net profit is largely attributable to the improved net revenue take rate of our core loan business, supported by continuous risk improvements in newly issued loans, a significant reduction in funding costs by nearly 100 basis points over the past quarter, and a slight improvement in the early repayment behavior. Given the ongoing improvement in our overall asset quality and the continuous execution of our transformation initiatives, we expect to report more positive progress in the year ahead.” Third Quarter 2024 Operational Highlights: User Base Operating revenue increased by 4.4% from RMB3,509 million in the third quarter of 2023 to RMB3,662 million in the third quarter of 2024. Credit facilitation service income increased by 10.6% from RMB2,686 million in the third quarter of 2023 to RMB2,970 million in the third quarter of 2024. The increase was driven by the increases in loan facilitation and servicing fees-credit oriented, partially offset by the decrease in financing income and guarantee income. Loan facilitation and servicing fees-credit oriented increased by 20.7% from RMB1,533 million in the third quarter of 2023 to RMB1,851 million in the third quarter of 2024. The increase was primarily due to the increase in takerate of loan facilitation business. Guarantee income decreased by 2.9% from RMB639 million in the third quarter of 2023 to RMB620 million in the third quarter of 2024. The decrease was primarily driven by the decrease of outstanding balances in the off-balance sheet loans funded by certain institutional funding partners, which are accounted for under ASC 460, Guarantees . Financing income decreased by 2.8% from RMB514 million in the third quarter of 2023 to RMB499 million in the third quarter of 2024. The decrease was primarily due to the decrease in the origination of on-balance sheet loans. Tech-empowerment service income decreased by 15.5% from RMB454 million in the third quarter of 2023 to RMB384 million in the third quarter of 2024. The decrease was primarily due to the decrease of loan facilitation volume under the profit-sharing model. Installment e-commerce platform service income decreased by 16.6% from RMB369 million in the third quarter of 2023 to RMB308 million in the third quarter of 2024. The decrease was primarily due to the decrease in transaction volume in the third quarter of 2024. Cost of sales decreased by 14.3% from RMB360 million in the third quarter of 2023 to RMB308 million in the third quarter of 2024, which was consistent with the decrease in installment e-commerce platform service income. Funding cost decreased by 33.4% from RMB132 million in the third quarter of 2023 to RMB87.7 million in the third quarter of 2024, which was primarily driven by the decrease in the cost of funding and funding debts to fund the on-balance sheet loans. Processing and servicing costs increased by 35.1% from RMB446 million in the third quarter of 2023 to RMB602 million in the third quarter of 2024. This increase was primarily due to an increase in risk management and collection expenses. Provision for financing receivables was RMB261 million for the third quarter of 2024, as compared to RMB162 million for the third quarter of 2023. The lifetime expected credit losses recognized was estimated based on the most recent performance in relation to the Company's on-balance sheet loans, taking into consideration the forward-looking factors. Provision for contract assets and receivables was RMB244 million in the third quarter of 2024, as compared to RMB159 million in the third quarter of 2023. The increase was primarily due to the increase in loan facilitation and servicing fees. Provision for contingent guarantee liabilities was RMB952 million in the third quarter of 2024, as compared to RMB894 million in the third quarter of 2023. The fluctuation was primarily due to the re-measurement of the expected loss rates and the origination of the off-balance sheet loans funded by certain institutional funding partners, which are accounted for under ASC 460, Guarantees. Gross profit decreased by 11.0% from RMB1,356 million in the third quarter of 2023 to RMB1,207 million in the third quarter of 2024. Sales and marketing expenses was RMB438 million in the third quarter of 2024, as compared to RMB411 million in the third quarter of 2023. The increase was primarily due to increased investment in marketing. Research and development expenses was RMB149 million in the third quarter of 2024, as compared to RMB127 million in the third quarter of 2023. The increase was primarily due to increased investment in technology development. General and administrative expenses was RMB89.0 million in the third quarter of 2024, as compared to RMB85.5 million in the third quarter of 2023. Change in fair value of financial guarantee derivatives and loans at fair value was a loss of RMB151 million in the third quarter of 2024, as compared to a loss of RMB246 million in the third quarter of 2023. The change in fair value was primarily due to the re-measurement of the expected loss rates, partially offset by the fair value gains realized as a result of the release of guarantee obligation. Income tax expense was RMB72.2 million in the third quarter of 2024, as compared to RMB116 million in the third quarter of 2023. The change was primarily due to the decrease of income before income tax expense. Net income decreased by 16.5% from RMB371 million in the third quarter of 2023 to RMB310 million in the third quarter of 2024. Recent Development Amended Dividend Policy The board of directors of the Company has approved an amended dividend payout policy, under which the payout ratio will be increased to 25% of total net profit starting from January 1, 2025. Conference Call The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern time on November 25, 2024 (10:00 AM Beijing/Hong Kong time on November 26, 2024). Participants who wish to join the conference call should register online at: https://register.vevent.com/register/BI220a892f574848f0b2997fb493e6296f Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call. Participants joining the conference call should dial in at least 10 minutes before the scheduled start time. A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.lexin.com. About LexinFintech Holdings Ltd. We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation. 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 attributable to ordinary shareholders of the Company, non-GAAP EBIT, adjusted net income per ordinary share and per ADS attributable to ordinary shareholders of the Company, 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 attributable to ordinary shareholders of the Company as net income attributable to ordinary shareholders of the Company excluding share-based compensation expenses, interest expense associated with convertible notes, and investment income/(loss) and we define non-GAAP EBIT as net income excluding income tax expense, share-based compensation expenses, interest expense, net, and investment income/(loss). We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Adjusted net income attributable to ordinary shareholders of the Company 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 income/(loss). Non-GAAP EBIT, on the other hand, enables our management to assess our operating results without considering the impact of income tax expense, share-based compensation expenses, interest expense, net, and investment income/(loss). 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 attributable to ordinary shareholders of the Company 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, interest expense, net, and investment income/(loss) have been and may continue to be incurred in our business and are not reflected in the presentation of adjusted net income attributable to ordinary shareholders of the Company 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. We compensate for these limitations by reconciling each of the non-GAAP financial measures 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 RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on September 30, 2024. The Company makes no representation that the RMB or US$ 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 the 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: Mandy Dong Tel: +86 (755) 3637-8888 ext. 6258 E-mail: [email protected] Media inquiries: Ruifeng Xu Tel: +86 (755) 3637-8888 ext. 6993 E-mail: [email protected] SOURCE LexinFintech Holdings Ltd. Unaudited Condensed Consolidated Balance Sheets (1) Short-term financing receivables, net of allowance for credit losses of RMB58,594 and RMB123,569 as of December 31, 2023 and September 30, 2024, respectively. Short-term contract assets and receivables, net of allowance for credit losses of RMB436,136 and RMB462,438 as of December 31, 2023 and September 30, 2024, respectively. Long-term financing receivables, net of allowance for credit losses of RMB3,087 and RMB1,848 as of December 31, 2023 and September 30, 2024, respectively. Long-term contract assets and receivables, net of allowance for credit losses of RMB61,838 and RMB35,497 as of December 31, 2023 and September 30, 2024, respectively. Unaudited Condensed Consolidated Statements of OperationBroncos, left tackle Garett Bolles agree on 4-year extension to protect rookie quarterback Bo Nix
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WASHINGTON — Kristi Noem visited key senators Wednesday in her bid to become secretary of Homeland Security in the upcoming Trump administration, stressing her support for President-elect Donald Trump’s tough-on-immigration stances. Noem had visited incoming Senate Homeland Security and Governmental Affairs Chairman Rand Paul, R-Ky., on Tuesday, and followed up Wednesday with a meeting with outgoing panel chair Sen. Gary Peters, D-Mich. After leaving Peters’ office, Noem said she hoped for Democratic support for her confirmation. She will be a key leader in implementing Trump’s campaign promises for a tough-on-immigration policy, including mass deportation of undocumented immigrants. “We’ve just had great conversations with Sen. Peters, talked about some concerns within the agency, what we can do to solidify our national security interests,” Noem told reporters. “And I think Republicans and Democrats in this country recognize how important homeland security is, and that we’re working together to make sure that we’re safe.” Noem traversed the Senate on Wednesday with aides affiliated with Trump’s transition team and Sen. Kevin Cramer, R-N.D., who represents a neighboring state of the South Dakota governor. Noem posted about her meetings with committee members on social media, writing that Sen. Josh Hawley, R-Mo., “knows we need a safer border and more secure nation” and how Sen. Roger Marshall, R-Kan., “understands how the open border impacts every state, including our Midwestern states.” Trump signaled during the weekend in a “Meet the Press” interview he’d be open to legislative protections for Dreamers, undocumented immigrants who were brought into the country at a young age and remain in the United States. Asked about her views on Trump’s comments on the Dreamers, Noem signaled her support for the president-elect but was noncommittal. “You know, I appreciate the president’s word on this issue, and I know he wants our laws to be followed, so I’ll work with him to get his vision accomplished,” Noem told a CBS reporter. Unlike other Trump nominees, Noem has not faced the same strong headwinds. But her confirmation is not without criticism. On Wednesday, CNN reported some South Dakota residents are unhappy with the way she handled key issues and accused her of neglecting her state to raise her national profile. When a reporter asked Noem about the story during her visit to Capitol Hill, Noem rejected the assertions as “absolutely not true whatsoever.” “The CNN report left out some incredibly important information on the 1,000-year flood we had in South Dakota this last year and our response to it immediately days before the flood came and hit the state,” Noem said. “Those families went through something extremely tragic and we’re continuing to work through the FEMA process to bring them all the resources that they need.” ©2024 CQ-Roll Call, Inc., All Rights Reserved. Visit cqrollcall.com. Distributed by Tribune Content Agency, LLC.CHARLOTTE, N.C. — Front Row Motorsports, one of two teams suing NASCAR in federal court, accused the stock car series Thursday of rejecting the planned purchase of a valuable charter unless the lawsuit was dropped. Front Row made the claim in a court filing and said it involved its proposed purchase of the charter from Stewart-Haas Racing. Front Row said the series would only approve it if Front Row and 23XI Racing dropped their court case. "Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them," Jerry Freeze, general manager of Front Row, said in an affidavit filed in the U.S. District Court of Western North Carolina. The two teams in September refused to sign NASCAR's "take-it-or-leave-it" final offer on a new revenue sharing agreement. All other 13 teams signed the deal. Front Row and 23XI balked and are now in court. 23XI co-owner Michael Jordan has said he took the fight to court on behalf of all teams competing in the top motorsports series in the United States. NASCAR has argued that the two teams simply do not like the terms of the final charter agreement and asked for the lawsuit be dismissed. Earlier this week, the suit was transferred to a different judge than the one who heard the first round of arguments and ruled against the two teams in their request for a temporary injunction to be recognized in 2025 as chartered teams as the case proceeds. The latest filing is heavily redacted as it lays out alleged retaliatory actions by NASCAR the teams say have caused irreparable harm. Both Front Row and 23XI want to expand from two full-time cars to three, and have agreements with SHR to purchase one charter each as SHR goes from four cars to one for 2025. The teams can still compete next season but would have to do so as "open" teams that don't have the same protections or financial gains that come from holding a charter. Freeze claimed in the affidavit that Front Row signed a purchase agreement with SHR in April and NASCAR President Steve Phelps told Freeze in September the deal had been approved. But when Front Row submitted the paperwork last month, NASCAR began asking for additional information. A Dec. 4 request from NASCAR was "primarily related to our ongoing lawsuit with NASCAR," Freeze said. "NASCAR informed us on December 5, 2024, that it objected to the transfer and would not approve it, in contrast to the previous oral approval for the transfer confirmed by Phelps before we filed the lawsuit," Freeze said. "NASCAR made it clear that the reason it was now changing course and objecting to the transfer is because NASCAR is insisting that we drop the lawsuit and antitrust claims against it as a condition of being approved." A second affidavit from Steve Lauletta, the president of 23XI Racing, claims NASCAR accused 23XI and Front Row of manufacturing "new circumstances" in a renewed motion for an injunction and of a "coordinated effort behind the scenes." "This is completely false," Lauletta said. Front Row is owned by businessman Bob Jenkins, while 23XI is owned by retired NBA Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin and longtime Jordan adviser Curtis Polk. NASCAR had been operating with 36 chartered teams and four open spots since the charter agreement began in 2016. NASCAR now says it will move forward in 2025 with 32 chartered teams and eight open spots, with offers on charters for Front Row and 23XI rescinded and the SHR charters in limbo. The teams contend they must be chartered under some of their contractual agreements with current sponsors and drivers, and competing next year as open teams will cause significant losses. "23XI exists to compete at the highest level of stock car racing, striving to become the best team it can be. But that ambition can only be pursued within NASCAR, which has monopolized the market as the sole top-tier circuit for stock car racing," Lauletta said. "Our efforts to expand – purchasing more cars and increasing our presence on the track – are integral to achieving this goal. "It is not hypocritical to operate within the only system available while striving for excellence and contending for championships," he continued. "It is a necessity because NASCAR's monopoly leaves 23XI no alternative circuit, no different terms, and no other viable avenue to compete at this level."Does Billionaire Ken Griffin Know Something Wall Street Doesn't? The Citadel Chief Sold More than Half His Broadcom Stock and Is Piling Into Another Artificial Intelligence (AI) Stock-Split Stock Instead
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