Lufax FY2024 net loss hits CNY3.6 billion as net margin drops to negative 14.7 percent

Reuters02-17

Lufax FY2024 net loss hits CNY3.6 billion as net margin drops to negative 14.7 percent

Lufax Holding Ltd. reported full-year (FY) 2024 total income of CNY 24.5 billion (USD 3.4 billion). The company posted a net loss of CNY 3.6 billion (USD 0.5 billion) for the same period, compared to net profits in previous years, with a net margin of negative 14.7 percent. Profit before income tax expenses was a loss of CNY 2.1 billion (USD 0.3 billion). Lufax attributed changes in its financial performance in part to the cessation of referral income from platform services following the end of Lujintong operations in April 2024. The company continues to focus on serving small business owners in China through its financial services platform. As of December 31, 2024, Lufax reported no significant capital or other commitments beyond non-cancellable office leases.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Lufax Holding Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-053042), on February 17, 2026, and is solely responsible for the information contained therein.

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