Welcome to our dedicated page for Lufax Holding news (Ticker: LU), a resource for investors and traders seeking the latest updates and insights on Lufax Holding stock.
Lufax Holding Ltd (NYSE: LU) generates a steady flow of corporate and regulatory news as a technology-empowered personal financial services platform and financial services enabler for small business owners in China. This news page focuses on announcements and disclosures that the company releases to investors, regulators and the market.
According to its press releases, Lufax frequently reports on extraordinary general meetings, including meeting notices, circulars, and the results of shareholder votes on framework agreements and collaboration arrangements. These items often involve services and products purchasing framework agreements, financial services framework agreements, consumer finance collaboration agreements, and account management agreements, many of which relate to connected transactions with Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries and associates.
Visitors can also expect news on corporate governance and management changes, such as appointments and resignations of independent non-executive directors, changes in board committee composition, and senior management hires. Recent disclosures have covered the appointment of new senior executives, including a Co-Chief Executive Officer, an Executive Deputy General Manager and Chief Marketing Officer, and a new Chief Risk Officer.
Another important category of news concerns auditor changes and listing compliance. Lufax has announced shareholder approval to remove and appoint auditors and has reported on communications with the New York Stock Exchange regarding its continued listing standards and extensions to file its annual report on Form 20-F.
By following LU news, investors and observers can track how Lufax manages its framework agreements, connected transactions, board and management structure, and regulatory obligations across the New York and Hong Kong markets.
Lufax Holding Ltd (NYSE: LU) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on May 2, 2022. The report includes audited consolidated financial statements available on the company’s investor relations website. Lufax is a technology-driven personal financial services platform in China, offering retail credit services and wealth management solutions aimed at small business owners and the growing middle class. The company utilizes a capital-light business model combining technology and financial expertise.
Lufax Holding Ltd (NYSE: LU) reported strong financial results for Q4 and full year 2021, with total income up 19.2% YoY to RMB 15.8 billion (US$2.5 billion) and net profit rising 1.7% to RMB 2.9 billion (US$454 million). Non-IFRS adjusted net profit surged 19.7% to RMB 3.4 billion (US$535 million). The company declared a cash dividend of US$0.68 per ordinary share and announced a US$500 million share repurchase program. For 2022, Lufax expects 10-12% income growth and net profit growth of 11-13%, supported by a robust retail lending and wealth management business.
Lufax Holding Ltd (NYSE: LU) will release its fourth quarter 2021 financial results on March 9, 2022, after market close. An earnings call is scheduled for 8:00 P.M. ET on the same day, with a replay available until March 17, 2022. Lufax offers technology-driven financial services in China, focusing on retail credit and wealth management. The Company operates a unique capital-light model tailored for small business owners and the middle-class segment, utilizing data and technology to optimize service delivery.
OneConnect Financial Technology reported a strong financial performance for the full year 2021, with revenue up 25% to RMB4,132 million, driven by increases in risk management and cloud services. The net loss narrowed to RMB1,282 million, compared to RMB1,354 million in 2020, with the net loss per ADS also improving to RMB3.47 from RMB3.81. The company experienced a gross margin decline to 35%, down from 38% year-over-year, but operating loss narrowed, indicating improved cost management. Premium customer growth and a net expansion rate of 96% reflect positive market recognition.
OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) reported a 20.8% year-over-year revenue growth, reaching RMB 1,065 million for Q3 2021. Despite the growth, the gross margin declined to 35.5% from 42.7% in the prior year. The net loss attributable to shareholders increased to RMB 270 million, compared to RMB 243 million a year earlier, with a basic net loss per share of RMB 0.24. The company saw significant growth in its cloud services, now accounting for 28.5% of total revenue.
Lufax Holding Ltd (NYSE: LU) reported third-quarter 2021 financial results, showcasing a 21.8% increase in total income to RMB15,924 million (US$2,471 million) and a 90.8% surge in net profit to RMB4,115 million (US$639 million). The company's non-IFRS adjusted net profit rose by 18.1% year-over-year. The retail credit facilitation business saw a 20.4% increase in outstanding loan balances. Notably, Lufax announced a US$700M share repurchase program and approved a new annual dividend policy starting in 2022, affirming its commitment to returning value to shareholders.
BAI has announced the finalists for the 11th Annual 2021 BAI Global Innovation Awards, recognizing groundbreaking solutions in the financial services industry. Categories include Innovation in Compliance and Risk Management, Consumer Product and Services, and Digital Transformation, with notable finalists like OneConnect Smart Technology Co., LTD from China featuring their Global Markets Digital Lab. Winners will be revealed in December 2021.
Lufax Holding Ltd (NYSE: LU) has announced the release of its third quarter 2021 financial results, scheduled for November 9, 2021, after market close. An earnings conference call will follow at 8:00 PM U.S. Eastern Time on the same day. Participants can register online to join the call and access details. Lufax continues to position itself as a leading technology-driven personal financial services platform in China, catering to small business owners and the growing middle class with tailored credit and wealth management solutions.
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