Income rises while Lufax (NYSE: LU) sharply narrows first-half 2025 loss

Rhea-AI Filing Summary

Lufax Holding Ltd reported higher income but a smaller loss for the six months ended June 30, 2025. Total income rose to RMB 14,084,249 thousand from RMB 12,034,039 thousand a year earlier, driven mainly by higher net interest and guarantee income plus a swing to investment income.

At the same time, credit impairment losses increased to RMB 7,858,211 thousand, which offset much of the income growth. After expenses and taxes, the company recorded a net loss of RMB 518,975 thousand, compared with a much larger loss of RMB 2,297,474 thousand in the prior-year period.

On the balance sheet, total assets were RMB 195,392,030 thousand as of June 30, 2025, with loans to customers of RMB 103,418,445 thousand. Total equity was RMB 83,100,067 thousand, and basic loss per share improved to RMB 0.44, or RMB 0.88 per ADS.

Positive

• Total income increased to RMB 14,084,249 thousand from RMB 12,034,039 thousand, reflecting growth in net interest and guarantee income and a shift to positive investment income.
• Net loss narrowed significantly to RMB 518,975 thousand from RMB 2,297,474 thousand, and basic loss per share improved to RMB 0.44 (ADS RMB 0.88).

Negative

• Credit impairment losses rose sharply to RMB 7,858,211 thousand from RMB 5,425,605 thousand, indicating heavier credit costs despite improved overall income.
• Financing guarantee liabilities increased on the balance sheet to RMB 5,655,678 thousand from RMB 4,217,979 thousand, adding to contingent risk exposure.

Insights

Banking and fintech earnings analyst

Lufax grew income and sharply narrowed losses, but credit costs remain heavy.

Lufax shows mixed signals for the first half of 2025. Total income rose to RMB 14.08 billion, supported by net interest income of RMB 6.40 billion and guarantee income of RMB 2.82 billion, indicating resilient core business activity.

However, credit impairment losses climbed to RMB 7.86 billion, significantly above the prior period. This suggests ongoing pressure from loan quality or conservative provisioning. Despite this, the net loss shrank to RMB 518.98 million, helped by positive investment income of RMB 1.27 billion and slightly lower operating costs.

The balance sheet remains large, with loans to customers of RMB 103.42 billion and equity of RMB 83.10 billion as of June 30, 2025. Future disclosures in company filings may clarify whether elevated credit impairment losses are temporary or a more persistent feature of the portfolio.

Key Figures

Total income H1 2025: RMB 14,084,249 thousand Total income H1 2024: RMB 12,034,039 thousand Net loss H1 2025: RMB 518,975 thousand +5 more

8 metrics

Total income H1 2025 RMB 14,084,249 thousand For the six months ended June 30, 2025

Total income H1 2024 RMB 12,034,039 thousand For the six months ended June 30, 2024

Net loss H1 2025 RMB 518,975 thousand For the six months ended June 30, 2025

Net loss H1 2024 RMB 2,297,474 thousand For the six months ended June 30, 2024

Credit impairment losses H1 2025 RMB 7,858,211 thousand For the six months ended June 30, 2025

Total assets RMB 195,392,030 thousand As of June 30, 2025

Loans to customers RMB 103,418,445 thousand As of June 30, 2025

Total equity RMB 83,100,067 thousand As of June 30, 2025

Key Terms

credit impairment losses, financing guarantee liabilities, other comprehensive income, convertible promissory notes payable, +2 more

6 terms

credit impairment losses financial

"Credit impairment losses | | | (5,425,605 | ) | | | (7,858,211 | )"

financing guarantee liabilities financial

"Financing guarantee liabilities | | | 4,217,979 | | | | 5,655,678 |"

other comprehensive income financial

"Other comprehensive income/(loss), net of tax | | | (74,669 | ) | | | 21,661 |"

Other comprehensive income is a section of a company’s financial statements that records gains and losses not shown in the regular profit-and-loss line, such as paper gains or losses on certain investments, pension plan adjustments, and changes from converting foreign operations. These items don’t represent cash earned or spent today but change a company’s reported net worth, like value swings in things stored in a closet rather than money in your wallet, and help investors spot hidden strengths or risks to long-term financial health.

convertible promissory notes payable financial

"Convertible promissory notes payable | | | 6,174,050 | | | | 6,381,257 |"

loss per ADS financial

"-Basic loss per ADS | | | (4.10 | ) | | | (0.88 | )"

financial assets at fair value through profit or loss financial

"Financial assets at fair value through profit or loss | | | 20,355,814 | | | | 27,837,065 |"

An accounting category for investments and contracts that are updated to their current market price on the balance sheet, with any gain or loss immediately shown in the company’s profit or loss statement. Investors care because this treatment makes reported earnings swing with market prices, so short-term market moves can boost or cut reported profits quickly — like revaluing a garage full of cars at today’s resale prices and recording the change as income or loss.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number 001-39654

Lufax Holding Ltd

(Registrant’s name)

18th Floor, No. 1333

Lujiazui Ring Road

Pudong New District, Shanghai

People’s Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

Lufax Announces Unaudited Financial Information As of and For the Six Months Ended June 30, 2025

In compliance with the NYSE Listed Company Manual Section 203.03, Lufax Holding Ltd (the “Company”) hereby announces its unaudited interim condensed consolidated statement of comprehensive income for the six months ended June 30, 2025 and its unaudited interim condensed consolidated statement of financial position as of June 30, 2025.

LUFAX HOLDING LTD

INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Expressed in Renminbi - RMB and US Dollars - US$. All amounts in thousands, except for per share data, or otherwise noted.)

		For the six months ended June 30,
		2024				2025				2025
		(Unaudited) RMB (Restated)				(Unaudited) RMB				(Unaudited) US$
										(Note 1)
Technology platform-based income			4,546,756				2,886,548				402,947
Net interest income			6,068,401				6,404,677				894,058
Guarantee income			1,775,400				2,815,970				393,094
Other income			773,499				708,182				98,858
Investment income/(loss)			(1,129,326	)			1,268,872				177,128
Share of net loss of investments accounted for using the equity method			(691	)			—				—
Total income			12,034,039				14,084,249				1,966,085
Sales and marketing expenses			(2,898,177	)			(2,068,958	)			(288,815	)
General and administrative expenses			(1,023,810	)			(996,698	)			(139,134	)
Operation and servicing expenses			(2,698,925	)			(2,048,817	)			(286,004	)
Technology and analytics expenses			(539,955	)			(474,339	)			(66,215	)
Credit impairment losses			(5,425,605	)			(7,858,211	)			(1,096,964	)
Finance costs			(34,893	)			(82,680	)			(11,542	)
Other loss - net			(299,014	)			(63,586	)			(8,876	)
Total expenses			(12,920,379	)			(13,593,289	)			(1,897,550	)
Profit/(loss) before income tax expenses			(886,340	)			490,960				68,535
Less: Income tax expense			(1,411,134	)			(1,009,935	)			(140,981	)
Net loss for the period			(2,297,474	)			(518,975	)			(72,446	)
Net profit/(loss) attributable to:
Owners of the Company			(2,356,062	)			(767,235	)			(107,102	)
Non-controlling interests			58,588				248,260				34,656
			(2,297,474	)			(518,975	)			(72,446	)
Other comprehensive income/(loss), net of tax:
Items that may be reclassified to profit or loss in subsequent periods
-Exchange differences on translation of foreign operations			(426	)			(7,925	)			(1,106	)
-Changes in the fair value of financial assets at fair value through other comprehensive income			(2,511	)			2,049				286
Items that will not be reclassified to profit or loss in subsequent periods
-Exchange differences on translation of foreign operations to the presentation currency			(71,732	)			27,537				3,844
Other comprehensive income/(loss), net of tax			(74,669	)			21,661				3,024
Total comprehensive loss for the period			(2,372,143	)			(497,314	)			(69,422	)
Total comprehensive loss attributable to:
Owners of the Company			(2,430,438	)			(745,486	)			(104,065	)
Non-controlling interests			58,295				248,172				34,643
			(2,372,143	)			(497,314	)			(69,422	)
Loss per share
-Basic loss per share			(2.05	)			(0.44	)			(0.06	)
-Diluted loss per share			(2.05	)			(0.44	)			(0.06	)
-Basic loss per ADS			(4.10	)			(0.88	)			(0.12	)
-Diluted loss per ADS			(4.10	)			(0.88	)			(0.12	)

LUFAX HOLDING LTD

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(Expressed in Renminbi - RMB and US Dollars - US$. All amounts in thousands, except for per share data, or otherwise noted.)

		As of
		December 31, 2024				June 30, 2025				June 30, 2025
		(Audited) RMB				(Unaudited) RMB				(Unaudited) US$
										(Note 1)
ASSETS
Cash at bank			29,903,846				27,890,740				3,893,397
Restricted cash			14,132,034				9,809,195				1,369,311
Financial assets held under resale agreements			657,033				2,083,215				290,806
Financial assets at fair value through profit or loss			20,355,814				27,837,065				3,885,904
Financial assets at fair value through other comprehensive income			1,156,095				2,010,257				280,621
Financial assets at amortized cost			1,499,000				—				—
Accounts and other receivables and contract assets			6,216,650				4,278,798				597,297
Loans to customers			111,508,669				103,418,445				14,436,658
Deferred tax assets			6,773,586				6,621,613				924,342
Property and equipment			64,075				50,498				7,049
Intangible assets			956,077				947,241				132,230
Right-of-use assets			306,599				258,626				36,103
Goodwill			9,175,539				9,171,521				1,280,295
Other assets			831,626				1,014,816				141,663
Total assets			203,536,643				195,392,030				27,275,676
LIABILITIES
Payable to platform investors			721,558				639,853				89,320
Borrowings			51,114,575				53,066,980				7,407,865
Customer deposits			3,933,750				5,405,481				754,576
Current income tax liabilities			782,352				333,887				46,609
Accounts and other payables and contract liabilities			7,492,550				6,950,808				970,295
Payable to investors of consolidated structured entities			42,795,624				31,153,210				4,348,820
Financing guarantee liabilities			4,217,979				5,655,678				789,502
Deferred tax liabilities			333,560				636,120				88,799
Lease liabilities			302,867				251,107				35,053
Convertible promissory notes payable			6,174,050				6,381,257				890,789
Financial assets sold under repurchase agreements			782,459				506,004				70,635
Other liabilities			1,287,562				1,311,578				183,091
Total liabilities			119,938,886				112,291,963				15,675,354
EQUITY
Share capital			117				117				16
Share premium			27,027,846				27,027,931				3,772,954
Treasury shares			(5,642,768	)			(5,642,768	)			(787,700	)
Other reserves			1,591,448				1,612,728				225,128
Retained earnings			58,796,059				58,028,824				8,100,511
Total equity attributable to owners of the Company			81,772,702				81,026,832				11,310,909
Non-controlling interests			1,825,055				2,073,235				289,413
Total equity			83,597,757				83,100,067				11,600,322
Total liabilities and equity			203,536,643				195,392,030				27,275,676

Note 1: The United States dollar (“US dollar” or “US$”) amounts disclosed in the accompanying financial information are presented solely for the convenience of the readers at the rate of US$1.00 = RMB7.1636, representing the noon buying rate on the last trading day of June 2025 (June 30, 2025) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				Lufax Holding Ltd
				By:		/s/ Tongzhuan Xi
				Name:		Tongzhuan Xi
				Title:		Chief Financial Officer
Date: April 30, 2026

FAQ

How did Lufax (LU) perform financially in the first half of 2025?

Lufax recorded a net loss of RMB 518,975 thousand for the six months ended June 30, 2025, a substantial improvement from a RMB 2,297,474 thousand loss a year earlier, as higher income and investment gains offset elevated credit costs.

How much income did Lufax (LU) generate in H1 2025?

Total income reached RMB 14,084,249 thousand for the six months ended June 30, 2025. This was driven by RMB 6,404,677 thousand in net interest income, RMB 2,815,970 thousand in guarantee income, and RMB 1,268,872 thousand of investment income.

What were Lufax (LU) credit impairment losses in H1 2025?

Credit impairment losses totaled RMB 7,858,211 thousand for the first half of 2025. This was a notable increase compared with RMB 5,425,605 thousand in the prior-year period, weighing heavily on overall profitability despite higher income.

What is Lufax (LU) loss per share and per ADS for H1 2025?

For the six months ended June 30, 2025, Lufax reported a basic and diluted loss per share of RMB 0.44. The basic and diluted loss per ADS, each representing two shares, was RMB 0.88 over the same period.

What does Lufax (LU) balance sheet look like as of June 30, 2025?

As of June 30, 2025, Lufax had total assets of RMB 195,392,030 thousand and total liabilities of RMB 112,291,963 thousand. Total equity was RMB 83,100,067 thousand, supported by loans to customers of RMB 103,418,445 thousand.

How large are Lufax (LU) borrowings and customer deposits in mid-2025?

Borrowings stood at RMB 53,066,980 thousand and customer deposits at RMB 5,405,481 thousand as of June 30, 2025. These figures highlight Lufax’s funding mix alongside payables to investors of consolidated structured entities of RMB 31,153,210 thousand.