Lufax Holding

Lufax Holding Ltd. operates a technology-empowered personal financial services platform. It offers personal lending and wealth management solutions. The company was founded in August 2005 and is headquartered in Shanghai, China.

Earnings data Q2 2024

Lufax Holding Limited transitions to 100% guarantee model and diversifies operations with virtual bank acquisition

Lufax Holding Limited reported a decrease in total income but highlighted a strong balance sheet and healthy growth in consumer finance. The company is focused on addressing challenges related to weak loan demand and asset quality while aiming for long-term sustainable growth and diversification.

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SHANGHAI , April 23, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it will hold an annual general meeting of the Company's shareholders (the "AGM") at 10:00 a.m. Hong Kong time on May 30, 2024 at Room 3601, No.

Lufax Announces Annual General Meeting on May 30, 2024 and Filing of Its Annual Report on Form 20-F

Lufax Holding Ltd (NYSE:LU ) Q1 2024 Earnings Conference Call April 22, 2024 9:00 PM ET Company Participants Xinyan Liu - Head of Board Office and Capital Markets Yong Cho - Co-CEO & Chairman of the Board Gregory Gibb - Co-CEO & Director David Choy - Chief Financial Officer Conference Call Participants Emma Xu - Bank of America Securities Chiyao Huang - Morgan Stanley Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to Lufax Holding Limited First Quarter 2024 Earnings Call. [Operator Instructions] After the management's prepared remarks, we will have a Q&A session.

Lufax Holding Ltd (LU) Q1 2024 Earnings Call Transcript

SHANGHAI , April 22, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Total income was RMB6,964 million (US$964 million) in the first quarter of 2024, compared to RMB10,078 million in the same period of 2023.

Lufax Reports First Quarter 2024 Financial Results

SHANGHAI , April 16, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it plans to release its first quarter 2024 financial results after the market closes on Monday, April 22, 2024 U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

Lufax to Announce First Quarter 2024 Financial Results on April 22, 2024

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Lufax Holding Ltd (LU) Q4 2023 Earnings Call Transcript

Lufax Holding declared a substantial special dividend of $2.42 per ADS on the day of its results announcement, which translated into a one-off dividend yield of 49.3%. LU's recent fourth-quarter results were below the market's expectations, but the company's loan mix has become more favorable with an increase in contribution from consumer finance. I upgrade my rating for Lufax to a Buy, considering its massive special dividend and the positive read-through relating to the loan mix from its latest results announcement.

Lufax: Massive Special Dividend Overshadows Below-Expectations Results (Rating Upgrade)

There were a few stunning surges this past week with the FinTech IPO Index, which added more than 5% through five sessions. And, as has been seen in the past few weeks, earnings were the key driver.

FinTech IPO Index Soars 5.2% as Lufax Is Up 73% Post-Earnings

Lufax (NYSE: LU ) stock is on the rise Thursday following the release of the Chinese personal financial services company's Q4 2023 earnings report. That earnings report starts with a loss of 1.48 yuan per American Depository Shares ( ADS ).

Why Is Lufax (LU) Stock Up 46% Today?

SHANGHAI , March 21, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights Total income was RMB6,857 million (US$966 million) in the fourth quarter of 2023, compared to RMB12,318 million in the same period of 2022.

Lufax Reports Fourth Quarter and Full Year 2023 Financial Results

SHANGHAI , March 12, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it plans to release its fourth quarter and fiscal year 2023 financial results before the market opens on Thursday, March 21, 2024 U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

Lufax to Announce Fourth Quarter and Fiscal Year 2023 Financial Results on March 21, 2024

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The stock has been under pressure in recent times due to macro weakness in China. Despite risks, I consider Lufax's current price attractive. I rate the stock a buy with a 1-year target price upside potential of 60%. PAOB integration should help Lufax access lower funding costs to drive top-line growth and margin expansion.

Lufax: Lower Funding Cost To Drive Loan Growth

SHANGHAI , Dec. 15, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it received a letter from the New York Stock Exchange (the "NYSE") dated November 30, 2023, notifying the Company that it is below the NYSE's continued listing standards due to the trading price of Lufax's American depositary shares (the "ADSs"). The notice had no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE, subject to the Company's compliance with other NYSE continued listing standards and other rights of the NYSE to delist the ADSs.

Lufax Announces Receipt of Notice Regarding NYSE Continued Listing Standards and Effectiveness of its ADS Ratio Change

SHANGHAI , Nov. 20, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it plans to change the ratio of its American Depositary Shares ("ADSs") to its ordinary shares (the "ADS Ratio"), par value US$0.00001 per share, from the current ADS Ratio of two (2) ADSs to one (1) ordinary share to a new ADS Ratio of one (1) ADS to two (2) ordinary shares. The Company anticipates that the change in the ADS Ratio will be effective on or about December 15, 2023 (the "Effective Date").

Lufax Holding Ltd Announces Plan to Implement ADS Ratio Change

Lufax Holdings (NYSE: LU) stock price was sitting at a record low as concerns about its slow growth continued. The shares have moved below the important support level of $1 after it published weak financial results and made a big acquisition.

Lufax stock price crashes below $1 but a rebound is still possible

Lufax Holding Ltd (NYSE:LU ) Q3 2023 Earnings Conference Call November 13, 2023 8:00 PM ET Company Participants Liu Xinyan - Head of Board Office and Capital Markets Y. S. Cho - Co-CEO and Chairman Gregory Gibb - Co-CEO David Choy - CFO Conference Call Participants Emma Chu - Bank of America Alex Ye - UBS Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Third Quarter 2023 Earnings Call.

Lufax Holding Ltd (LU) Q3 2023 Earnings Call Transcript

SHANGHAI , Nov. 13, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights Total income was RMB8,050 million (US$1,103 million) in the third quarter of 2023, compared to RMB13,193 million in the same period of 2022.

Lufax Reports Third Quarter 2023 Financial Results

SHANGHAI , Nov. 7, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it plans to release its third quarter 2023 financial results after the market closes on Monday, November 13, 2023 U.S. Eastern Time. The Company's management will hold an earnings conference call at 8:00 P.M.

Lufax to Announce Third Quarter 2023 Financial Results on November 13, 2023

Lufax badly missed top-line expectations for the second quarter given continued macroheadwinds. The China-based fintech beat on earnings, helped by its focus on asset quality over quantity.

Why Lufax Holding Stock Dropped Today

Lufax Holding Ltd (NYSE:LU ) Q2 2023 Results Conference Call August 21, 2023 9:00 PM ET Company Participants Liu Xinyan - Head of Board Office and Capital Markets Y. S. Cho - Co-CEO and Chairman of the Board Gregory Gibb - Co-CEO and Director Siu Choy - Chief Financial Officer Conference Call Participants Alex Ye - UBS Emma Chu - Bank of America Chiyao Huang - Morgan Stanley Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Limited Second Quarter 2023 Earnings Call.

Lufax Holding Ltd (LU) Q2 2023 Earnings Call Transcript

Lufax Holding Ltd. Sponsored ADR (LU) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.05 per share.

Lufax Holding Ltd. Sponsored ADR (LU) Q2 Earnings Top Estimates

SHANGHAI , Aug. 21, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the second quarter ended June 30, 2023. Second Quarter 2023 & First Half 2023 Financial Highlights Total income was RMB9,270 million (US$1,278 million) in the second quarter of 2023, compared to RMB15,288 million in the same period of 2022, representing a decrease of 39.4%.

Lufax Reports Second Quarter 2023 Financial Results

SHANGHAI , Aug. 15, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it plans to release its second quarter 2023 financial results after the market closes on Monday, August 21, 2023 U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

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