Lufax Announces the Resignation of Its General Manager

Lufax (NYSE: LU) announced that General Manager Dongqi Chen has tendered his resignation, effective March 31, 2026, citing personal work arrangement.

Rhea-AI Summary

Lufax (NYSE: LU) announced that General Manager Dongqi Chen has tendered his resignation, effective March 31, 2026, citing personal work arrangement.

The company expressed appreciation for Mr. Chen's significant contribution during his tenure. No successor or additional leadership details were provided.

Positive

• Clear effective date for leadership change: March 31, 2026
• Company publicly acknowledged Mr. Chen's significant contribution

Negative

• Departure of General Manager Dongqi Chen could affect leadership continuity
• No successor or transition plan disclosed in the announcement

Argus Mar 27 session

-3.70% close to close Open Argus

Details

News Market Reaction – LU

In the Mar 27 session, LU declined 3.70%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds another step in Lufax’s leadership transition, with the General Manager resig...

Analysis

This announcement adds another step in Lufax’s leadership transition, with the General Manager resigning effective March 31, 2026. It follows recent CEO and board changes and comes alongside filings showing Ping An’s 73.3% beneficial ownership and sizeable convertible note overhang. Investors may track how remaining senior leaders execute the company’s strategy, watch for further management updates, and monitor future disclosures or meetings related to ongoing collaboration and framework agreements.

Key Figures

Share price: $1.89 Daily change: -2.07% Trading volume: 2,012,759 shares +5 more

Share price

$1.89

Pre-news price for LU

Daily change

-2.07%

24h move prior to this announcement

Trading volume

2,012,759 shares

Today vs 20-day average 2,086,622

52-week high

$4.57

LU trades 58.64% below this level

52-week low

$1.725

LU is 9.57% above this level

Ping An ownership

1,579,768,074 shares (73.3%)

Beneficial ownership reported in Schedule 13D/A

Convertible note shares

421,077,586 shares

Ordinary shares issuable upon conversion of promissory notes

Total shares basis

2,154,455,370 shares

Shares used for percentage calculations in Schedule 13D/A

Historical Context

5 past events · Latest: Feb 17

5 events

1. Feb 17

   Annual report filing

   24h Move

   +15.6%

   Form 20-F filing for fiscal 2024 within NYSE extension window.

2. Feb 17

   Mgmt and board changes

   24h Move

   +15.6%

   CEO transition and board reshuffle with new Ping An-linked directors.

3. Dec 29

   EGM results

   24h Move

   -2.6%

   Shareholder approval of 2026 framework and collaboration agreements.

4. Oct 31

   Senior hires

   24h Move

   +11.4%

   Appointment of Co-CEO and Executive Deputy GM/CMO to drive strategy.

5. Oct 31

   EGM announcement

   24h Move

   +11.4%

   Call for EGM to renew Ping An-related framework agreements.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SHANGHAI, March 27, 2026 /PRNewswire/ -- Lufax Holding Ltd (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that Mr. Dongqi Chen has tendered his resignation as General Manager of the Company, effective March 31, 2026, due to his personal work arrangement.  

The Company would like to take this opportunity to express its appreciation to Mr. Chen for his significant contribution to the Company during his tenure of office.

About Lufax
Lufax is a leading financial services enabler for small business owners in China. Lufax offers financing products designed to address the needs of small business owners and others. In doing so, Lufax has established relationships with 85 financial institutions in China as funding partners, many of which have worked with Lufax for over three years.

Investor Relations Contact
Lufax Holding Ltd
Email: Investor_Relations@lu.com 

ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com

 

View original content:https://www.prnewswire.com/news-releases/lufax-announces-the-resignation-of-its-general-manager-302727127.html

SOURCE Lufax Holding Ltd

FAQ

When is Dongqi Chen's resignation at Lufax (LU) effective?

His resignation is effective March 31, 2026. According to Lufax, Mr. Chen tendered his resignation and the company confirmed the effective date and his personal work arrangement as the reason.

Why did Lufax (LU) General Manager Dongqi Chen resign?

He resigned due to a personal work arrangement. According to Lufax, Mr. Chen tendered his resignation for personal work reasons and the company thanked him for his contributions during his tenure.

Will Lufax (LU) name a successor to General Manager Dongqi Chen?

No successor was named in the announcement. According to Lufax, the release only confirmed Mr. Chen's resignation and effective date without providing succession or transition details.

Could Dongqi Chen's resignation affect Lufax (LU) operations or strategy?

The company did not specify operational impacts in the announcement. According to Lufax, the notice focused on the resignation effective date and appreciation for Mr. Chen's service, without discussing strategy changes.

Where can investors find updates about Lufax (LU) leadership changes after March 27, 2026?

Investors should check Lufax investor communications for updates. According to Lufax, further leadership or transition announcements would be released through the company's official investor channels if available.