Lufax Holding Ltd Stock Price, News & Analysis

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.

Lufax Holding Ltd (LU) reported strong financial results for Q2 2021, with total income rising 17.3% to RMB14.8 billion (US$2.3 billion) and net profit increasing 53.2% to RMB4.7 billion (US$732 million). The retail credit facilitation segment experienced a 16.8% growth in loan balances, totaling RMB606.8 billion (US$94 billion). Notably, the company announced a new US$700 million share repurchase program. For H2 2021, Lufax anticipates continued growth, projecting total income to rise 18% to 19% year-over-year, with net profit expected to grow by 32% to 36% year-over-year.

Lufax Holding Ltd (NYSE: LU) plans to release its second quarter 2021 financial results on August 9, 2021, after market close. An earnings conference call will follow at 9:00 P.M. U.S. Eastern Time. Participants must register in advance to receive dial-in details. A replay will be available until August 16, 2021, and an archived webcast can be accessed on the company's investor relations website. Lufax is known for its technology-driven personal financial services, focusing on retail credit and wealth management for the growing middle class in China.

Lufax Holding Ltd (NYSE: LU) announced the launch of its AI-powered smart loan solution, Xingyun, through its subsidiary Ping An Puhui. This innovation simplifies the loan application process for small and micro enterprises, reducing application time by 44% and customer complaints by 50%. Key features include AI imaging technology for seamless interaction, automation of text input, real-time risk assessments, and enhanced data security for users. Puhui aims to broaden Xingyun’s reach, reinforcing its position as a leading retail credit facilitator in China.

Lufax Holding Ltd (NYSE: LU) has announced a share repurchase program authorizing the buyback of up to US$300 million of its American depositary shares (ADSs) over the next six months. The repurchases will be funded from the company's existing cash balance and may occur through various trading methods, depending on market conditions. Additionally, senior management plans to use personal funds to purchase up to US$5 million in ADSs, demonstrating confidence in the company's long-term growth and aligning management's interests with shareholders.

Lufax Holding Ltd (NYSE: LU) reported a strong performance for Q1 2021, with total income rising by 16.9% year-over-year to RMB 15,251 million (US $2,328 million). Net profit also increased by 18.7% to RMB 4,969 million (US $758 million), maintaining a net margin of 32.6%. Key operational metrics include a 15.1% rise in loan balances and a 17.1% increase in the cumulative number of borrowers. The company saw improved loan quality with a more substantial share of new loans going to high-quality borrowers. These results reflect Lufax's effective risk management and growth strategy amidst regulatory changes.