(Yicai Global) Dec. 22 -- LexinFintech Holdings Ltd. [NASDAQ:LX], backed by internet giant JD.Com Inc., listed on the Nasdaq yesterday, becoming the seventh Chinese fintech company listed in the US. Its listing comes at a time when its US-listed peers perform poorly in the US capital market after the China tightened oversight of the fintech industry.

LexinFintech listed on the Nasdaq, the second largest stock exchange in the world by market capitalization, with an opening price of USD11.8, up 31 percent from its initial offering price of USD9, online media outlet the Paper reported. Its shares rose by as much as 65.3 percent to USD14.88 in intraday trading and closed at USD10.7, up 18.89 percent from its initial offering price.

LexinFintech owns three major brands including online consumer finance platform Fenqile, online investment platform Juzi Licai and asset matching platform Dingsheng Asset. Fenqile is China's first and largest online shopping marketplace that offers installment purchase loans.

LexinFintech's target customers are well-educated young adults between ages 18 and 36 in China, featuring high income, high educational background and high consumption needs, per its prospectus. As of Sept. 30, this target group represented over 90 percent of its customer base.

Liu Qiangdong, founder of Chinese e-commerce stalwart JD.Com Inc [NASDAQ:JD], was an angel investor of Fenqile. JD.Com Asia Pacific Investment Limited under JD.Com and its affiliates owned 11.9 percent of LexinFintech before its Nasdaq debut.

Fenqile helped JD.Com expand in the student market, and the two companies are still working together in the supply chain field.

Fenqile has achieved seamless connections of customer order data with JD.Com's systems, LexinFintech's information prospectus said. Fenqile and JD.Com still share the same supply chain system for home appliances, Liu Fang, vice president of LexinFintech, head of its e-commerce business and former vice president of JD.Com, said in a media interview.

China has introduced a series of tougher regulations concerning the fintech industry of late, causing US-listed Chinese fintech firms to suffer a decline in market value and forcing LexinFintech to slash the size of its initial public offering from a planned USD500 million to USD108 million. It could still raise USD124 million from the offering upon exercise of over-allotment options by its underwriters.