Stock Track | Lufax Soars 10.78% in Pre-Market Amid Leadership Transition and Annual Report Filing

Stock Track02-17

Lufax Holding Ltd's stock experienced a significant surge of 10.78% during pre-market trading on Tuesday. The sharp upward movement indicates strong investor interest ahead of the regular trading session.

The price movement appears to be driven by the company's announcement of a major leadership transition and the filing of its annual report. Lufax disclosed that CEO Yong Suk Cho will step down on March 31, 2026, and will be succeeded by current Co-CEO Xiang Ji, effective April 1, 2026. The company also announced changes to its Board of Directors, with Fangfang Cai and Peifeng Li joining as new non-executive directors.

Investors may be viewing the management changes positively, particularly given Mr. Ji's extensive experience in retail credit, risk management, and his background at McKinsey & Company. The concurrent filing of the Annual Report on Form 20-F for fiscal year 2024 provides investors with updated financial transparency, despite the company reporting a net loss for the period.

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