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 Q1 2021

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Earnings data Q4 2024

Lufax Holding faces challenges in Q4 but shows resilience

Lufax Holding navigated challenges in Q4 2022, focusing on asset quality, cost optimization, and strategic growth initiatives amidst a changing macro environment.
Despite revenue declines and a net loss, the company showed strengths in customer finance growth, cost management, and strategic planning for sustained profitability.
Challenges in asset quality metrics and new loan volumes were offset by opportunities in economic resilience, innovation, and cost optimization strategies.
The company's performance and strategic direction indicate a resilient approach to market dynamics and a commitment to long-term growth and shareholder value.

Lufax Holding reports Q1 profitability amid economic recovery challenges

Lufax Holding navigated challenges in Q1 2023 by achieving profitability through lower credit impairment losses and focusing on a more resilient business model. Despite facing questions on loan pricing, asset quality, and funding costs, the company demonstrated strengths in improving credit and asset quality. Opportunities for growth exist in tech-based income growth and strategic initiatives for recovery.

Lufax Holding prioritizes asset quality and cost efficiency in Q2

Lufax Holding's Q2 performance reflected a focus on asset quality, cost optimization, and transitioning to a 100% guarantee model. While facing challenges in new loan sales and credit loss provisions, the company aims for positive long-term results. Opportunities in U-shape recovery, higher-quality customer segments, and new product strategies position Lufax for growth.

Lufax Holding (LU) reports solid Q3 performance amidst profitability transition

Lufax Holding (LU) delivered strong financial results in Q3 2023, showcasing growth in key areas and a focus on operational efficiency. While facing profitability pressures in the medium term, the company is strategically positioned to capitalize on growth opportunities and enhance shareholder value.

Lufax Holding (LU) faces Q4 challenges but shows commitment to shareholders

Lufax Holding (LU) reported a decline in financial metrics in Q4 2023 due to strategic shifts and derisking actions. Management's emphasis on cost optimization and shareholder returns through special dividends reflects a disciplined approach. Challenges include profitability hurdles post-transition and macroeconomic headwinds for SBOs.

Lufax Holding reports Q1 loss, focuses on quality over quantity

Lufax Holding's Q1 2024 showcased challenges in loan sales and revenue, offset by asset quality improvements and consumer finance growth.
The company's shift to a 100% guarantee model impacted risk-bearing positively, aligning with a focus on quality over quantity.
Despite financial challenges, opportunities lie in special dividends, asset quality sustainability, and optimizing unit economics.

Lufax Holding reports Q2 loss, eyes growth through strategic moves

Lufax Holding faces challenges with a significant decline in total income and a net loss for Q2 2024, prompting a focus on financial performance.
Strategic acquisitions and efforts to reduce funding costs and improve operational efficiency signal a proactive approach to addressing challenges.
Asset quality improvements and decreased credit impairment losses demonstrate positive steps in managing risk and enhancing financial stability.
Collaboration potential with Ping An Group and opportunities for market expansion present avenues for growth and strategic development.

Lufax Holding reports steady growth in consumer finance amidst challenges

Lufax Holding demonstrated resilience in consumer finance growth and asset quality stability amidst challenges in Puhui loan demand.
The company's strategic initiatives, including the small lending license acquisition, aim to drive future growth and enhance operational efficiency.
While facing revenue challenges and a net loss in Q3, Lufax Holding remains focused on optimizing costs and exploring new market opportunities.
Overall, Lufax Holding's performance reflects a balanced approach to navigating market dynamics and pursuing sustainable growth strategies.

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Lufax Holding Ltd (NYSE:LU ) Q3 2024 Results Conference Call October 21, 2024 9:00 PM ET Company Participants Xinyan Liu - Head of Board Office and Capital Markets Yong Suk Cho - Co-CEO & Chairman of the Board Peiqing Zhu - Chief Financial Officer Conference Call Participants Betty Li - CLSA Judy Zhang - Citi Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Third Quarter 2024 Earnings Call. [Operator Instructions] After the management's prepared remarks, we will have a Q&A session.

Lufax Holding Ltd (LU) Q3 2024 Earnings Call Transcript

SHANGHAI , Oct. 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 third quarter ended September 30, 2024. Third Quarter 2024 Financial Highlights Total income was RMB5,543 million (US$790 million) in the third quarter of 2024, compared to RMB8,050 million in the same period of 2023.

Lufax Reports Third Quarter 2024 Financial Results

SHANGHAI , Oct. 15, 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 third quarter 2024 financial results after the Hong Kong market closes and before the U.S. market opens on Monday, October 21, 2024. The Company's management will hold an earnings conference call at 9:00 P.M.

Lufax to Announce Third Quarter 2024 Financial Results on October 21, 2024

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Major Chinese stocks listed in the U.S. showed mixed results in recent trading, with the Nasdaq Golden Dragon China Index (HXC) closing down 2.37%. Notable gainers included Taiwan Semiconductor Manufacturing Company (TSM), which rose 2.09%, and Futu Holdings (FUTU, Financial), which saw an impressive increase of 8.81%.

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Lufax's Q2 net loss and interim dividend omission were disappointing, but LU is expected to resume dividend payouts and deliver positive earnings in fiscal 2025. LU's strategic pivot towards the 100% guarantee business model and consumer finance loans have yielded decent results, considering the take rate improvement and consumer finance loans' strong growth. My Buy rating for Lufax remains intact, taking into account the potential turnaround next year and the significant progress made with its strategic pivot.

Lufax: Look Past Q2 Performance And Focus On Strategic Pivot

Lufax Holding Ltd (NYSE:LU ) Q2 2024 Results Conference Call August 21, 2024 9:00 PM ET Company Participants Xinyan Liu - Head of Board Office and Capital Markets Yong Suk Cho - Co-CEO & Chairman of the Board Peiqing Zhu - Chief Financial Officer Conference Call Participants Emma Xu - Bank of America Securities Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Lufax Holding Second Quarter 2024 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

Lufax Holding Ltd (LU) Q2 2024 Earnings Call Transcript

Lufax Holding (NYSE: LU ) just reported results for the second quarter of 2024. Lufax Holding reported earnings per share of -19 cents.

LU Stock Earnings: Lufax Holding Reported Results for Q2 2024

SHANGHAI , Aug. 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 second quarter ended June 30, 2024. Second Quarter 2024 & First Half 2024 Financial Highlights Total income was RMB5,976 million (US$822 million) in the second quarter of 2024, compared to RMB9,270 million in the same period of 2023.

Lufax Reports Second Quarter 2024 Financial Results

SHANGHAI , Aug. 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 second quarter 2024 financial results after the market closes on Wednesday, August 21, 2024, U.S. Eastern Time. The Company's management will hold an earnings conference call at 9:00 P.M.

Lufax to Announce Second Quarter 2024 Financial Results on August 21, 2024

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Two Chinese companies, Lufax Holdings and DouYu, recently announced special dividends that yielded 50% for shareholders who held immediately after the payouts were announced. The Lufax special dividend has already been paid. The DouYu special hasn't been paid and is not ex-dividend yet. Although the stock has responded to the dividend announcement, the forward yield is still over 50%.

China's So Cheap, We're Seeing 50% Yield Special Dividends!

Lufax is an attractive dividend play, considering its high-single-digit percentage consensus forward FY 2025/26 dividend yields. Lufax's loan-related metrics like loan mix and take rate for the most recent quarter were pretty good, and this bodes well for Lufax's future financial performance. I leave my Buy rating for LU stock unchanged after evaluating the company's latest quarterly loan metrics and its dividend outlook.

Lufax Stock: Watch Future Dividends And Loan Metrics

SHANGHAI , May 30, 2024 /PRNewswire/ -- Lufax Holding Ltd (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced the results of its annual general meeting of shareholders held in Shanghai on May 30, 2024. At the meeting, the shareholders of Lufax approved, ratified and/or confirmed the following resolutions: To receive and adopt the audited consolidated financial statements of the Company for the year ended December 31, 2023 and the reports of the directors and auditor thereon.

Lufax Announces Results of Annual General Meeting

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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