Lufax Holding Ltd (LU; “Lufax”) announced that it has satisfied all six resumption conditions set by Hong Kong Exchanges and Clearing Limited, clearing the way for trading in its H-shares (stock code 06623) to recommence at 9:00 a.m. on 24 September 2026. Trading had been suspended since 28 January 2025.
Key Developments and Findings • Independent Investigation: A probe by an international law firm and forensic accountants concluded that two of three “Subject Transactions” were undisclosed connected transactions, while a third was properly authorized. Loan transactions totaling RMB3.84 billion to DeCheng Investment and RMB77.90 million in hospitality expenses routed through Zhongshi were identified; the latter was deemed immaterial to operations. Lufax has rectified control deficiencies, consolidated Zhongshi and Jiayun Hua’ao, and commenced repayment and unwinding arrangements. • Publication of Outstanding Financials: All delayed financial statements have been filed. Ernst & Young issued unqualified opinions on the FY 2024 and FY 2025 consolidated accounts, and the company restated FY 2022 and FY 2023 results. • Governance Overhaul: The board now comprises one executive and five independent non-executive directors. A Chief Compliance Officer role has been created, and Ping An Group, a key shareholder, provided an undertaking to preserve Lufax’s governance independence. • Internal Control Review: Deloitte Consulting (Shanghai) confirmed that remedial measures have closed previously identified gaps. The consultant concluded that Lufax’s enhanced control framework meets HKEX Listing Rule requirements. • Business Scale and Compliance: Lufax reported total income of approximately RMB27.10 billion for FY 2025 and held RMB202.70 billion in total assets as of 30 June 2026, satisfying HKEX Listing Rule 13.24 on sufficient operations and asset value. • Market Disclosure: Since the suspension, Lufax has issued regular updates and reiterated commitment to ongoing transparency.
Regulatory Outlook While HKEX has approved resumption, it continues to investigate potential Listing Rule breaches, and may initiate disciplinary actions against the company or relevant individuals.
Effective 24 September 2026, Lufax shares will trade again on HKEX, marking the end of a 20-month suspension and signaling completion of extensive remediation efforts across governance, reporting, and internal controls.
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