US Stock Market Move | Benefit installment music store May Day Golden Week consumption momentum strong driving Lexinfintech Holdings Ltd. Sponsored ADR Class A (LX.US) surged 9.07%

It was learned that, the US stock market closed on Friday (May 2) Eastern Time, driven by factors such as the sharp rise in Chinese concept stocks, Labor Day consumption, and strong consumption momentum of Lexinfintech Holdings Ltd. Sponsored ADR Class A (LX.US) during the May Day Golden Week on the Fenqile Mall, China's leading new consumer digital technology services provider, rose by 9.07% to a closing price of $8.42 per share, with a daily trading volume of $20.08 million. Market-wise, influenced by the better-than-expected April non-farm employment report, the three major US stock indices all closed higher. At the close, the Dow rose by 1.39%, the S&P 500 rose by 1.47%, and the Nasdaq rose by 1.51%. Both the Dow and the S&P 500 recorded nine consecutive gains, and the S&P 500 achieved its longest winning streak since 2004. Chinese concept stocks saw widespread gains, with the Nasdaq China Dragon Index rising by 3.51%. Among the popular individual stocks, XiaoMa Zhixing rose by over 21%, VNET Group, Inc. Sponsored ADR rose by nearly 13%, EHang Holdings Ltd. Sponsored ADR Class A rose by over 9%, GDS Holdings Ltd. Sponsored ADR Class A rose by over 9%, Tencent Music Entertainment Group Sponsored ADR Class A rose by over 7%, and XPeng, Inc. ADR Sponsored Class A rose by over 5%. The rise in the stock price of Lexinfintech Holdings Ltd. Sponsored ADR Class A was mainly influenced by factors such as better-than-expected Labor Day consumption and strong consumption momentum of the Fenqile Mall during the May Day Golden Week. During this year's May Day holiday, travel enthusiasm continued to rise. The China Railway Group estimates that during the 8-day May Day holiday period from April 29 to May 6, the national railway will transport 144 million passengers, a year-on-year increase of 4.9%. Data shows that on the first day of the May Day holiday, various tourist destinations reported strong tourism consumption. For example, a 5A-level tourist attraction in Anhui Province received a total of 363,000 visitors, with ticket revenue of 19.219 million yuan, an increase of 18.5% and 15.2% from 2024; Hunan Province had 9.9624 million visitors on the same day, an increase of 31.40% year-on-year. The Fenqile Mall under Lexinfintech Holdings Ltd. Sponsored ADR Class A released its pre-holiday consumption report: from April 21 to April 26, the number of transactions increased by over 20% compared to the previous period, with total transaction volume increasing by over 30%. With the increasing diversity of consumption scenarios and a series of government policies to stimulate consumption, online consumption demand continues to grow. The Fenqile Mall predicts that this year's May Day holiday consumption will show three major features: "outdoor travel outbreak, third- and fourth-tier cities heating up, and differentiated consumption structure," which is closely related to consumption policy drives, changes in young consumer attitudes, and platform promotional activities. In the past two months, many well-known brokerages such as UBS Group AG(UBS), CICC, Citi, Citic Securities, and Huatai Securities have successively released research reports covering Lexinfintech Holdings Ltd. Sponsored ADR Class A, with many raising their target prices. For example, in a recent research report, UBS Group AG, in addition to maintaining a "buy" rating on Lexinfintech Holdings Ltd. Sponsored ADR Class A, raised the target price to $13.6, a 41.7% increase over the previous report's $9.6 target price. It is reported that Lexinfintech Holdings Ltd. Sponsored ADR Class A was established in August 2013 and is based in Shenzhen, China. It has been actively connecting online and offline consumption scenarios through its platforms with the brand concept of "easy consumption, flexible turnover" to connect hundreds of millions of young Chinese consumers with new consumer brands. In December 2017, Lexinfintech Holdings Ltd. Sponsored ADR Class A officially listed on the NASDAQ in the United States.