LUFAX Reports 2024 Annual Results with Total Revenue of 24.5 Billion Yuan

Deep News02-16

LUFAX (06623) announced its annual results for the period ending December 31, 2024. The group recorded total revenue of RMB 24.513 billion, representing a decrease of 28.51% compared to the previous year. The loss attributable to the company's owners was RMB 3.871 billion, a reversal from the profit of RMB 810 million recorded in the same period last year. The basic loss per share was RMB 2.77.

The company is a leading financial services enabler for small and micro-enterprise owners in China. It is dedicated to providing comprehensive and convenient financial products and services to small and micro-enterprise owners, while enabling its financial institution partners to efficiently reach and serve this customer segment. Additionally, the company offers consumer finance products and services to retail customers. In 2022, 2023, and 2024, the company facilitated loans for 4.8 million, 3.9 million, and 5.0 million active borrowers, respectively. As of December 31, 2022, 2023, and 2024, the total balance of loans facilitated by the company was RMB 576.5 billion, RMB 315.4 billion, and RMB 216.9 billion (USD 29.7 billion), respectively.

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