Categories: Wire Stories

Lufax Reports Second Quarter 2021 Unaudited Financial Results

SHANGHAI–(BUSINESS WIRE)–Lufax Holding Ltd (�Lufax” or the “Company”) (NYSE: LU), a leading technology-empowered personal financial services platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Financial Highlights

  • Total income increased by 17.3% to RMB14,828 million (US$2,297 million) in the second quarter of 2021 from RMB12,637 million in the same period of 2020.
  • Net profit increased by 53.2% to RMB4,729 million (US$732 million) in the second quarter of 2021 from RMB3,086 million in the same period of 2020.

(In millions except percentages, unaudited)

Three Months Ended June 30,

 

 

 

2020

 

2021

 

YoY

 

RMB

 

RMB

USD

 

 

Total income

12,637

 

 

14,828

 

2,297

 

 

17.3

%

Income excluding investment income

12,417

 

 

14,792

 

2,291

 

 

19.1

%

Total expenses

(8,291

)

 

(8,477

)

(1,313

)

 

2.2

%

Total expenses excluding credit impairment

losses, financial costs and other losses

(7,229

)

 

(7,107

)

(1,101

)

 

(1.7

%)

Credit impairment losses

(597

)

 

(1,394

)

(216

)

 

133.5

%

Financial costs and other losses, net

(466

)

 

25

 

4

 

 

(105.4

%)

Net profit

3,086

 

 

4,729

 

732

 

 

53.2

%

Net margin

24.4

%

 

31.9

%

31.9

%

 

NA

Second Quarter 2021 Operational Highlights

Retail credit facilitation business:

  • Outstanding balance of loans facilitated increased by 16.8% to RMB606.8 billion (US$94.0 billion) as of June 30, 2021, from RMB519.4 billion as of June 30, 2020.
  • Cumulative number of borrowers increased by 15.7% to approximately 15.5 million as of June 30, 2021, from approximately 13.4 million as of June 30, 2020.
  • During the second quarter of 2021, excluding the consumer finance subsidiary, 77.6% of new loans facilitated were disbursed to small business owners, up from 72.6% in the same period of 2020.
  • As of June 30, 2021, excluding the consumer finance subsidiary, outstanding balance of loans facilitated with guarantees from credit enhancement partners accounted for 84.3% of the total outstanding balance of loans facilitated, a decrease from 94.3% as of June 30, 2020.
  • During the second quarter of 2021, excluding the consumer finance subsidiary, the Company bore risk on 16.0% of its new loans facilitated, up from 4.4% in the same period of 2020.
  • For the second quarter, the Company’s retail credit facilitation revenue take rate1 based on loan balance was 9.7%, as compared to 9.5% for the second quarter of 2020.
  • Despite the reduction in APRs starting from September 2020, the Company has maintained its solid business growth. New loans facilitated increased by 11.1% to RMB152.7 billion (US$23.7 billion) in the second quarter of 2021 from RMB137.4 billion in the same period of 2020. High-quality borrowers2 contributed 63.7% of the new general unsecured loans facilitated in the second quarter of 2021, as compared to 59.4% in the same period of 2020.
  • C-M3 flow rate3 for the total loans the Company had facilitated was 0.4% in the second quarter of 2021, identical to the rate in the first quarter of 2021. Flow rate for the general unsecured loans the Company had facilitated was 0.5% in the second quarter of 2021, and flow rate for the secured loans the Company had facilitated was 0.1% in the second quarter of 2021, both of which were unchanged from the first quarter of 2021.
  • Days past due (“DPD”) 30+ delinquency rate4 for the total loans the Company had facilitated improved to 1.9% as of June 30, 2021, from 2.0% as of March 31, 2021. DPD 30+ delinquency rate for general unsecured loans was 2.3% as of June 30, 2021, identical to the rate as of March 31, 2021. DPD 30+ delinquency rate for secured loans improved to 0.5% as of June 30, 2021, from 0.6% as of March 31, 2021.
  • DPD 90+ delinquency rate5 for the total loans facilitated was 1.1% as of June 30, 2021. DPD 90+ delinquency rate for general unsecured loans increased to 1.3% as of June 30, 2021, from 1.2% as of March 31, 2021. DPD 90+ delinquency rate for secured loans was 0.3% as of June 30, 2021, identical to the rate as of March 31, 2021.

Wealth management business:

  • Total number of registered users grew to 47.1 million as of June 30, 2021, from 44.7 million as of June 30, 2020.
  • Total number of active investors grew to 14.8 million as of June 30, 2021, from 12.8 million as of June 30, 2020.
  • Total client assets grew by 12.4% to RMB421.1 billion (US$65.2 billion) as of June 30, 2021, from RMB374.7 billion as of June 30, 2020.
  • Client assets in the Company’s current products (excluding legacy products6) increased by 28.8% to RMB421.1 billion (US$65.2 billion) as of June 30, 2021, from RMB326.9 billion as of June 30, 2020.
  • As of June 30, 2021, legacy products accounted for 0.0%7 of total client assets, down from 12.8% as of June 30, 2020.
  • 12-month investor retention rate as of June 30, 2021, slightly increased to 96.0% from 95.0% as of June 30, 2020.
  • Contribution to total client assets from customers with investments of more than RMB300,000 on the Company’s platform increased to 80.2% as of June 30, 2021, from 75.4% as of June 30, 2020.
  • During the second quarter of 2021, the annualized take rate8 for current products and services on the Company’s wealth management platform was 31.8 bps, down from 32.5 bps during the second quarter of 2020.

Mr. Ji Guangheng, Chairman of Lufax, commented, “Although market sentiment towards Chinese ADRs has fluctuated substantially due to recent changes in macro policies and market conditions, Lufax has greatly improved its operating performance while maintaining strong regulatory compliance and corporate governance. In the first half of 2021, our total income grew by 17.1% and our net profit grew by 33.4%. Since Lufax’s inception, we have always been in close and constant dialogs with the regulatory authorities to fully grasp the latest regulatory trends, intentions, and requirements. By establishing and maintaining constructive relationships with a multitude of regulatory authorities in all relevant aspects, we have been able to synchronize our own operations with policy changes. Based on our own analysis of regulatory intentions and industry competition, we have decided to gradually shift our business focus from volume growth to quality enhancement and uphold three principles: to keep our operations fully compliant with regulations, to provide increasing value to small and micro business owners as well as the middle class, and to empower our business development with technology advancement. While we are cognizant of the challenges ahead, we are also confident in our own ability to deftly navigate through changing market dynamics and lay a unique path to long-term and sustainable success.”

Mr. Gregory Gibb, Co-Chief Executive Officer of Lufax, commented, “On the back of our solid financial performance, abundant cash reserves, and strong net cash flow, we are able to meet any new capital requirements that may come from regulatory changes, reward our shareholders by adding another US$700 million to our existing share buyback program, and continue to allocate more capital towards enhancing our unique business model. What sets Lufax apart from our peers is our unparalleled O2O direct sales force, our distinctive way of deploying business licenses, and our full range of financial services beyond lending. We are confident that our combination of capital strength, differentiated business model, in-depth financial credit experience, and commitment to regulatory compliance will enable us to remain resilient in a rapidly changing operating environment.”

Mr. James Zheng, Chief Financial Officer of Lufax, commented, “Our second quarter 2021 results are characterized by strong business growth, continued operations improvement, and expanded profit margins. Our total income grew by 17.3% year over year to RMB14.8 billion, and our net profit increased by 53.2% year over year to RMB4.7 billion. We maintained our momentum by continuously optimizing our unit economics, growing our loan volume, improving our business mix, executing a more sustainable risk-sharing model, enhancing our asset quality, and substantially completing the run-off of legacy P2P products. While we ramped up our total income excluding investment income by 19.1% year over year, we also managed to reduce our total expenses excluding credit impairment losses, financial costs, and other losses by 1.7% year over year, showcasing our efficiency in most areas. As of June 30, 2021, our total equity had reached RMB91.1 billion, and we had approximately RMB42 billion liquid assets9 maturing in 90 days or less. Looking ahead, we will continue to balance prudent cost controls with healthy business expansion to deliver lasting shareholder value.”

Second Quarter 2021 Financial Results

TOTAL INCOME

Total income increased by 17.3% to RMB14,828 million (US$2,297 million) in the second quarter of 2021 from RMB12,637 million in the same period of 2020. The Company’s revenue mix changed with the evolution of its business model as it gradually bore more credit risk and increased funding from consolidated trust plans that provide lower funding costs.

 

Three Months Ended June 30,

 

 

 

(In millions except percentages, unaudited)

2020

 

2021

 

YoY

 

RMB

 

% of income

 

RMB

 

% of income

 

 

 

Technology platform-based income

10,374

 

82.1

%

 

9,601

 

64.7

%

 

(7.5

%)

Retail credit facilitation service fees

10,084

 

79.8

%

 

9,194

 

62.0

%

 

(8.8

%)

Wealth management transaction and service fees

291

 

2.3

%

 

407

 

2.7

%

 

39.9

%

Net interest income

1,624

 

12.9

%

 

3,227

 

21.8

%

 

98.7

%

Guarantee income

92

 

0.7

%

 

891

 

6.0

%

 

868.5

%

Other income

351

 

2.8

%

 

1,071

 

7.2

%

 

205.1

%

Investment income

220

 

1.7

%

 

37

 

0.2

%

 

(83.2

%)

Share of net profits of investments accounted for

using the equity method

(24

)

(0.2

%)

 

2

 

0.0

%

 

108.3

%

Total income

12,637

 

100

%

 

14,828

 

100

%

 

17.3

%

             
  • Technology platform-based income decreased by 7.5% to RMB9,601 million (US$1,487 million) in the second quarter of 2021 from RMB10,374 million in the same period of 2020 due to the decrease in retail credit facilitation service fees, partially offset by the increase in wealth management transaction and service fees.
    • Retail credit facilitation service fees decreased by 8.8% to RMB9,194 million (US$1,424 million) in the second quarter of 2021 from RMB10,084 million in the same period of 2020, mainly due to a change in revenue mix driven by the evolution of the Company’s risk-sharing business model.
    • Wealth management transaction and service fees increased by 39.9% to RMB407 million (US$63 million) in the second quarter of 2021 from RMB291 million in the same period of 2020. The increase was mainly driven by the year-over-year increase in fees generated from the Company’s current products and services.
  • Net interest income increased by 98.7% to RMB3,227 million (US$500 million) in the second quarter of 2021 from RMB1,624 million in the same period of 2020, mainly as a result of the Company’s increased usage of trust funding channels that are consolidated by the Company. As of June 30, 2021, the Company’s on-balance sheet loans accounted for 27.8% of its total loan balance under management as compared to 15.6% as of June 30, 2020.
  • Guarantee income increased by 868.5% to RMB891 million (US$138 million) in the second quarter of 2021 from RMB92 million in the same period of 2020, primarily due to the increase in the loans for which the Company bears credit risk.
  • Other income increased by 205.1% to RMB1,071 million (US$166 million) in the second quarter of 2021 from RMB351 million in the same period of 2020, mainly due to the increase of account management fees, collections, and other value-added service fees charged to the Company’s credit enhancement partners as part of the retail credit facilitation process.
  • Investment income decreased by 83.2% to RMB37 million (US$6 million) in the second quarter of 2021 from RMB220 million in the same period of 2020, mainly due to fair value losses from investments.

TOTAL EXPENSES

Total expenses increased by 2.2% to RMB8,477 million (US$1,313 million) in the second quarter of 2021 from RMB8,291 million in the same period of 2020. Total expenses excluding credit impairment losses, financial costs and other losses decreased by 1.7% to RMB7,107 million (US$1,101 million) in the second quarter of 2021 from RMB7,229 million in the same period of 2020 due to cost reductions in multiple areas.

  • Sales and marketing expenses decreased by 6.3% to RMB4,316 million (US$668 million) in the second quarter of 2021 from RMB4,606 million in the same period of 2020.
    • Borrower acquisition expenses decreased by 19.5% to RMB2,643 million (US$409 million) in the second quarter of 2021 from RMB3,283 million in the same period of 2020. The decrease was mainly due to 1) increased sales productivity and decreased sales commissions, and 2) the higher base in the second quarter of 2020 due to the accelerated recognition of amortized selling expenses from loans originated in prior years as the result of early repayment by customers.
    • Investor acquisition and retention expenses decreased by 15.5% to RMB169 million (US$26 million) in the second quarter of 2021 from RMB200 million in the same period of 2020 mainly due to the optimization of investor acquisition channel costs.
    • General sales and marketing expenses increased by 33.8% to RMB1,503 million (US$233 million) in the second quarter of 2021 from RMB1,123 million in the same period of 2020, primarily due to the lower base in the second quarter of 2020 as a result of the social security relief during the COVID-19 outbreak.
  • General and administrative expenses increased by 21.1% to RMB798 million (US$124 million) in the second quarter of 2021 from RMB659 million in the same period of 2020. This increase was mainly due to the lower base in the second quarter of 2020 as a result of the social security relief during the COVID-19 outbreak as well as the Company’s headcount expansion in the second quarter of 2021 to support its new business development efforts, which included the development of the Company’s consumer finance business.
  • Operation and servicing expenses decreased by 3.3% to RMB1,476 million (US$229 million) in the second quarter of 2021 from RMB1,527 million in the same period of 2020, primarily due to decreased in post-origination management expenses, driven by improvements in the Company’s management and collection efficiency. The decrease was partially offset by the increase in trust plan management expenses, which resulted from the increase in consolidated trust plans.
  • Technology and analytics expenses increased by 18.6% to RMB517 million (US$80 million) in the second quarter of 2021 from RMB436 million in the same period of 2020, mainly due to the Company’s ongoing investments in technology research and development.
  • Credit impairment losses increased by 133.5% to RMB1,394 million (US$216 million) in the second quarter of 2021 from RMB597 million in the same period of 2020, due to the increase in the proportion of credit risk born by the Company as a result of its continued migration to a risk-sharing model while the credit quality indicators continued to stabilize and in some cases improve substantially from one year previously.
  • Finance costs decreased by 37.4% to RMB276 million (US$43 million) in the second quarter of 2021 from RMB441 million in the same period of 2020, mainly due to the decrease in the balance of convertible bonds and the increase in interest income resulting from the increase in deposits.
  • Other gains increased to RMB301 million (US$47 million) in the second quarter of 2021 from a loss of RMB25 million in the same period of 2020, mainly due to the foreign exchange gain in the second quarter of 2021.

NET PROFIT

Net profit increased by 53.2% to RMB4,729 million (US$732 million) in the second quarter of 2021 from RMB3,086 million in the same period of 2020, driven by the aforementioned factors as well as a reduction in the effective tax rate to 26% in the second quarter of 2021 from 29% in the same period of 2020.

EARNINGS PER ADS

Basic and diluted earnings per American Depositary Share (“ADS”) were RMB2.00 (US$0.31) and RMB1.86 (US$0.29), respectively, in the second quarter of 2021.

BALANCE SHEET

The Company had RMB29,022 million (US$4,495 million) in cash at bank as of June 30, 2021, as compared to RMB24,159 million as of December 31, 2020.

Recent Developments

US$300M Share Repurchase Program and US$5M Senior Management Share Purchase Plan

On May 24, 2021, the Company’s board of directors authorized a share repurchase program (the “US$300M Share Repurchase Program”), under which the Company would repurchase up to an aggregate of US$300 million worth of its ADSs over the following six months. On the same date, the Company’s board of directors approved a senior management share purchase plan (the “US$5M Senior Management Share Purchase Plan”), under which certain members of the Company’s senior management would purchase up to an aggregate of US$5 million worth of the Company’s ADSs over the following six months, pursuant and subject to applicable laws and the Company’s securities trading policy.

As of June 30, 2021, the Company had repurchased approximately 23 million ADSs for approximately US$281 million under the US$300M Share Repurchase Program and the senior management of the Company had purchased approximately 0.4 million ADSs for approximately US$5 million under the US$5M Senior Management Share Purchase Plan.

US$700M Share Repurchase Program

The Company today announced that its board of directors has authorized a new share repurchase program (the “US$700M Share Repurchase Program”) under which the Company may repurchase up to an aggregate of US$700 million of its ADSs during the 12-month period beginning at the close of business on the second trading day after the date of this press release. The Company’s proposed repurchases under the US$700M Share Repurchase Program may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

Business Outlook

For the second half of 2021, the Company expects its new loans facilitated to grow by 16% to 21% year over year to the range of RMB324 billion to RMB340 billion, and client assets to grow by 5% to 8% year over year to the range of RMB450 billion to RMB460 billion. At the same time, as the Company strives to maintain its growth momentum and improve its operating efficiency, it expects its total income to grow by 18% to 19% year over year to the range of RMB31.0 billion to RMB31.3 billion, and net profit to grow by 32% to 36% year over year to the range of RMB6.6 billion to RMB6.8 billion.

For the full year of 2021, the Company expects its new loans facilitated to grow by 15% to 18% year over year to the range of RMB649 billion to RMB665 billion, client assets to grow by 5% to 8% year over year to the range of RMB450 billion to RMB460 billion, total income to grow by 17% to 18% year over year to the range of RMB61.1 billion to RMB61.4 billion, and net profit to grow by 33% to 34% year over year to the range of RMB16.3 billion to RMB16.5 billion.

These forecasts reflect the Company’s current and preliminary views on the market and operational conditions, which are subject to change.

Conference Call Information

The Company’s management will hold an earnings conference call at 9:00 P.M. U.S. Eastern Time on Monday, August 9, 2021 (9:00 A.M. Beijing Time on Tuesday, August 10, 2021) to discuss the financial results. For participants who wish to join the call, please complete online registration using the link provided below in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique access PIN, which can be used to join the conference call.

Registration Link: https://dpregister.com/sreg/10159278/ec0129df24

A replay of the conference call will be accessible through August 16, 2021 (dial-in numbers: +1 (877) 344-7529 or +1 (412) 317-0088; replay access code: 10159278). A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.lufaxholding.com.

About Lufax

Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. The Company has implemented a unique, capital-light, hub-and-spoke business model combining purpose-built technology applications, extensive data, and financial services expertise to effectively facilitate the right products to the right customers.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.4566 to US$1.00, the rate in effect as of June 30, 2021, as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Lufax’s beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. These forward-looking statements include, but are not limited to, statements about Lufax’s goals and strategies; Lufax’s future business development, financial condition and results of operations; expected changes in Lufax’s income, expenses or expenditures; expected growth of the retail credit facility and wealth management markets; Lufax’s expectations regarding demand for, and market acceptance of, its services; Lufax’s expectations regarding its relationship with borrowers, platform investors, funding sources, product providers and other business partners; general economic and business conditions; and government policies and regulations relating to the industry Lufax operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Lufax’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

LUFAX HOLDING LTD

UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS

(All amounts in thousands, except share data, or otherwise noted)

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2020

 

 

2021

 

2020

 

 

2021

 

RMB

 

RMB

 

USD

 

RMB

 

RMB

 

USD

Technology platform-based income

10,374,149

 

 

9,601,195

 

 

1,487,036

 

 

21,453,124

 

 

19,891,314

 

 

3,080,772

 

Retail credit facilitation service fees

10,083,638

 

 

9,193,711

 

 

1,423,925

 

 

20,753,875

 

 

18,858,856

 

 

2,920,865

 

Wealth management transaction and service

fees

290,511

 

 

407,484

 

 

63,111

 

 

699,249

 

 

1,032,458

 

 

159,907

 

Net interest income

1,623,605

 

 

3,226,887

 

 

499,781

 

 

2,998,206

 

 

6,137,811

 

 

950,626

 

Guarantee income

91,604

 

 

890,589

 

 

137,935

 

 

170,466

 

 

1,441,964

 

 

223,332

 

Other income

351,176

 

 

1,070,812

 

 

165,848

 

 

655,608

 

 

2,109,368

 

 

326,700

 

Investment income

220,359

 

 

36,756

 

 

5,693

 

 

446,771

 

 

526,462

 

 

81,539

 

Share of net profits of investments accounted for

using the equity method

(23,601

)

 

2,037

 

 

315

 

 

(40,647

)

 

(27,846

)

 

(4,313

)

Total income

12,637,292

 

 

14,828,276

 

 

2,296,608

 

 

25,683,528

 

 

30,079,073

 

 

4,658,656

 

Sales and marketing expenses

(4,606,357

)

 

(4,315,895

)

 

(668,447

)

 

(8,620,294

)

 

(8,549,164

)

 

(1,324,097

)

General and administrative expenses

(659,359

)

 

(797,573

)

 

(123,528

)

 

(1,347,713

)

 

(1,651,278

)

 

(255,750

)

Operation and servicing expenses

(1,526,911

)

 

(1,476,499

)

 

(228,681

)

 

(2,818,606

)

 

(2,997,686

)

 

(464,282

)

Technology and analytics expenses

(435,909

)

 

(516,828

)

 

(80,046

)

 

(848,677

)

 

(963,421

)

 

(149,215

)

Credit impairment losses

(596,659

)

 

(1,393,534

)

 

(215,831

)

 

(1,098,804

)

 

(2,446,784

)

 

(378,959

)

Asset impairment losses

 

 

(2,049

)

 

(317

)

 

 

 

(2,049

)

 

(317

)

Finance costs

(441,156

)

 

(275,974

)

 

(42,743

)

 

(887,347

)

 

(560,066

)

 

(86,743

)

Other gains/(losses) – net

(25,029

)

 

301,417

 

 

46,684

 

 

45,679

 

 

163,451

 

 

25,314

 

Total expenses

(8,291,380

)

 

(8,476,935

)

 

(1,312,909

)

 

(15,575,762

)

 

(17,006,997

)

 

(2,634,049

)

Profit before income tax expenses

4,345,912

 

 

6,351,341

 

 

983,697

 

 

10,107,766

 

 

13,072,076

 

 

2,024,607

 

Income tax expenses

(1,259,713

)

 

(1,622,650

)

 

(251,316

)

 

(2,836,207

)

 

(3,374,756

)

 

(522,684

)

Net profit for the period

3,086,199

 

 

4,728,691

 

 

732,381

 

 

7,271,559

 

 

9,697,320

 

 

1,501,923

 

 

 

 

 

 

 

 

 

 

 

 

 

Net profit/(loss) attributable to:

 

 

 

 

 

 

 

 

 

 

 

Owners of the Group

3,094,158

 

 

4,773,635

 

 

739,342

 

 

7,283,502

 

 

9,768,993

 

 

1,513,024

 

Non-controlling interests

(7,959

)

 

(44,944

)

 

(6,961

)

 

(11,943

)

 

(71,673

)

 

(11,101

)

Net profit for the period

3,086,199

 

 

4,728,691

 

 

732,381

 

 

7,271,559

 

 

9,697,320

 

 

1,501,923

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

-Basic earnings per share

2.85

 

 

4.00

 

 

0.62

 

 

6.70

 

 

8.17

 

 

1.27

 

-Diluted earnings per share

2.85

 

 

3.72

 

 

0.58

 

 

6.70

 

 

7.59

 

 

1.18

 

-Basic earnings per ADS

 

 

2.00

 

 

0.31

 

 

 

 

4.09

 

 

0.63

 

-Diluted earnings per ADS

 

 

1.86

 

 

0.29

 

 

 

 

3.80

 

 

0.59

 

Contacts

Investor Relations
Lufax Holding Ltd

Email: Investor_Relations@lu.com

ICR Inc.

Robin Yang

Tel: +1 (212) 537-0429

Email: lufax.ir@icrinc.com

Read full story here

Alex

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