Lufax Holding Ltd (6623) Announces 2024 Annual Results, Reporting RMB3.60 Billion Net Loss

Bulletin Express02-15

Lufax Holding Ltd (6623) published its audited annual results for the year ended December 31, 2024. The total income was RMB24.51 billion, indicating a 28.50% decrease from RMB34.29 billion in 2023. The reduction was mainly attributable to lower loan balance and a decline in technology platform-based income.

Total expenses were RMB26.59 billion, down 18.70% from RMB32.70 billion in 2023. Despite expense control measures, the increase in loan provisions constrained profitability. Consequently, the Company recorded a net loss of RMB3.60 billion, compared with a net profit of RMB0.95 billion the previous year.

For the 2024 fiscal year, the Company reported RMB12.31 billion in net interest income, a 6.10% drop year-on-year. Loan impairment provisions remained a significant factor in the overall performance. As of December 31, 2024, the balance of loans to customers reached RMB111.51 billion, while the Group’s outstanding financing guarantee contracts totaled RMB68.02 billion.

As of December 31, 2024, the Company recorded total assets of RMB203.54 billion and total liabilities of RMB119.94 billion, resulting in net assets of RMB83.60 billion. Management indicated that consumer finance and SBO-focused business models continued to be core strategies under changing market conditions. No annual dividend for 2024 financial year was recommended.

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

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1144576284?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-02-15 18:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1144576284","market":"hk","top_or_hot":-1,"title":"Lufax Holding Ltd (6623) Announces 2024 Annual Results, Reporting RMB3.60 Billion Net Loss","media":"Bulletin Express","content":"<p>Lufax Holding Ltd (6623) published its audited annual results for the year ended December 31, 2024. The total income was RMB24.51 billion, indicating a 28.50% decrease from RMB34.29 billion in 2023. The reduction was mainly attributable to lower loan balance and a decline in technology platform-based income.</p>\n<p>Total expenses were RMB26.59 billion, down 18.70% from RMB32.70 billion in 2023. Despite expense control measures, the increase in loan provisions constrained profitability. Consequently, the Company recorded a net loss of RMB3.60 billion, compared with a net profit of RMB0.95 billion the previous year.</p>\n<p>For the 2024 fiscal year, the Company reported RMB12.31 billion in net interest income, a 6.10% drop year-on-year. Loan impairment provisions remained a significant factor in the overall performance. As of December 31, 2024, the balance of loans to customers reached RMB111.51 billion, while the Group’s outstanding financing guarantee contracts totaled RMB68.02 billion.</p>\n<p>As of December 31, 2024, the Company recorded total assets of RMB203.54 billion and total liabilities of RMB119.94 billion, resulting in net assets of RMB83.60 billion. Management indicated that consumer finance and SBO-focused business models continued to be core strategies under changing market conditions. No annual dividend for 2024 financial year was recommended.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lufax Holding Ltd (6623) Announces 2024 Annual Results, Reporting RMB3.60 Billion Net Loss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLufax Holding Ltd (6623) Announces 2024 Annual Results, Reporting RMB3.60 Billion Net Loss\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1053168898\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Bulletin Express </p>\n<p class=\"h-time\">2026-02-15 18:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Lufax Holding Ltd (6623) published its audited annual results for the year ended December 31, 2024. The total income was RMB24.51 billion, indicating a 28.50% decrease from RMB34.29 billion in 2023. The reduction was mainly attributable to lower loan balance and a decline in technology platform-based income.</p>\n<p>Total expenses were RMB26.59 billion, down 18.70% from RMB32.70 billion in 2023. Despite expense control measures, the increase in loan provisions constrained profitability. Consequently, the Company recorded a net loss of RMB3.60 billion, compared with a net profit of RMB0.95 billion the previous year.</p>\n<p>For the 2024 fiscal year, the Company reported RMB12.31 billion in net interest income, a 6.10% drop year-on-year. Loan impairment provisions remained a significant factor in the overall performance. As of December 31, 2024, the balance of loans to customers reached RMB111.51 billion, while the Group’s outstanding financing guarantee contracts totaled RMB68.02 billion.</p>\n<p>As of December 31, 2024, the Company recorded total assets of RMB203.54 billion and total liabilities of RMB119.94 billion, resulting in net assets of RMB83.60 billion. Management indicated that consumer finance and SBO-focused business models continued to be core strategies under changing market conditions. No annual dividend for 2024 financial year was recommended.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06623","symbol_name":"陆控","start_time":0,"source_url":"","article_id":"1144576284","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1144576284","pubTimestamp":1771152247,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"Lufax Holding Ltd (6623) published its audited annual results for the year ended December 31, 2024. The total income was RMB24.51 billion, indicating a 28.50% decrease from RMB34.29 billion in 2023....","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"06623":"陆控"},"translate_title":"陆金所控股有限公司(6623)公布2024年全年业绩，净亏损人民币36亿元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06623":1},"content_text":"Lufax Holding Ltd (6623) published its audited annual results for the year ended December 31, 2024. The total income was RMB24.51 billion, indicating a 28.50% decrease from RMB34.29 billion in 2023. The reduction was mainly attributable to lower loan balance and a decline in technology platform-based income.\nTotal expenses were RMB26.59 billion, down 18.70% from RMB32.70 billion in 2023. Despite expense control measures, the increase in loan provisions constrained profitability. Consequently, the Company recorded a net loss of RMB3.60 billion, compared with a net profit of RMB0.95 billion the previous year.\nFor the 2024 fiscal year, the Company reported RMB12.31 billion in net interest income, a 6.10% drop year-on-year. Loan impairment provisions remained a significant factor in the overall performance. As of December 31, 2024, the balance of loans to customers reached RMB111.51 billion, while the Group’s outstanding financing guarantee contracts totaled RMB68.02 billion.\nAs of December 31, 2024, the Company recorded total assets of RMB203.54 billion and total liabilities of RMB119.94 billion, resulting in net assets of RMB83.60 billion. Management indicated that consumer finance and SBO-focused business models continued to be core strategies under changing market conditions. No annual dividend for 2024 financial year was recommended.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"dataReport,SGX","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1144576284","isCrawlerRequest":true}