Lufax (6623) Announces Q3 2025 Business Update and Chief Risk Officer Change

Bulletin Express10-24

Lufax Holding Ltd (Stock Code: 6623; NYSE: LU) released an announcement highlighting progress on regulatory queries, third-quarter business performance for 2025, a change in its Chief Risk Officer, and continued trading suspension.

Lufax Holding Ltd is responding to the Hong Kong Stock Exchange’s ongoing questions related to an independent investigation of previously disclosed transactions. The company is also conducting an internal control review with a third-party consultant and has been providing updates to its successor auditors on the investigative findings.

Operational metrics for the quarter ended September 30, 2025, showed total outstanding loans of RMB189.6 billion, reflecting an 11.0% year-over-year decrease. Consumer finance loans, however, rose 26.7% year-over-year to RMB58.9 billion. New loan origination in the quarter reached RMB56.9 billion, with consumer finance loans representing RMB31.7 billion, an increase of 20.1% compared to the prior-year period. The number of cumulative borrowers grew 15.3%, reaching approximately 28.5 million as of September 30, 2025. The portion of outstanding balances for which Lufax Holding Ltd bears risk rose significantly compared to last year, and the company reported a take rate of 13.0% for its retail credit enablement business. Certain delinquency metrics were higher on a sequential basis, while the non-performing loan ratio for consumer finance loans was 1.1%, slightly improved from the previous quarter.

The announcement also disclosed that the tenure of the current Chief Risk Officer, Ms. Youn Jeong LIM, has ended, and she has resigned due to personal work arrangements. She has been replaced by Mr. Jianbo CHENG, an experienced professional who joined Lufax Holding Ltd earlier in 2025.

Trading in the ordinary shares of Lufax Holding Ltd on the Hong Kong Stock Exchange has been suspended since January 28, 2025, and remains halted as of the latest announcement date. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment