陆控ADR美股盘后涨0.38%，该公司港交所公告宣布Yong Suk Cho（赵容奭）将继续担任CEO，Alston Zhu辞去 CFO、任命Tongzhuan Xi（席通专）为新的CFO。 陆金所控股有限公司 NYSE: LU ! 概览 对比 财务信息 謝永林先生 市场概况 > 陆金所控股有限公司 2.62 USD + 关注 +0.15 (6.07%) ↑ 今天 收盘时间: 4月23日 GMT-4 下午5:10 · 免责声明 盘后价 2.63 +0.010 (0.38%) 6 个月 YTD 1 天 5天 1 个月 1年 5年 最大 2.70 2.65 2.60 2.55 昨日 2.50 收盘价 2.47 2.45 上午10:00 下午12:00 下午2:00 下午4:00 下午6:00 下午8:00 22.71亿 开盘 2.49 52 周高点 市值 4.94 2.00 最高 2.66 市盈率 52 周低点 時得所控股 JIFAX Lufax Holding Ltd 陆金所控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號：6623) (紐交所股票代碼：LU) 董事名單及其角色和職能 陆金所控股有限公 ...

Financial Performance - For Q3 2024, total revenue was RMB 5,543 million (approximately USD 790 million), down from RMB 8,050 million in Q3 2023, representing a decrease of 31% year-over-year[8]. - The company reported a net loss of RMB 725 million (approximately USD 103 million) for Q3 2024, compared to a net profit of RMB 131 million in the same period last year[8]. - Total revenue for Q3 2024 was RMB 5,543 million (approximately USD 790 million), a decrease of 31% compared to RMB 8,050 million in Q3 2023[14]. - The net loss for Q3 2024 was RMB 725 million, compared to a net profit of RMB 131 million in Q3 2023[21]. - The company reported a net loss of RMB 725,254 thousand for the three months ended September 30, 2024, compared to a profit of RMB 130,973 thousand for the same period in 2023[26]. - Basic earnings per share for the nine months ended September 30, 2024, was a loss of RMB 1.98, compared to earnings of RMB 1.51 for the same period in 2023[26]. Revenue and Expenses - Technology platform revenue for Q3 2024 was RMB 1,633 million, a decrease of 49.9% compared to RMB 3,259 million in Q3 2023, primarily due to reduced loan balances and the exit from the Lufax Jin Tong business[15]. - Net interest income for Q3 2024 was RMB 2,687 million, down 18.8% from RMB 3,307 million in Q3 2023, mainly due to decreased loan balances, partially offset by increased net interest income from consumer finance[16]. - Total expenses decreased by 19% to RMB 6,262 million in Q3 2024 from RMB 7,747 million in Q3 2023, primarily due to a 50% reduction in sales and marketing expenses[17]. - Sales and marketing expenses fell to RMB 1,148 million in Q3 2024, a 49.9% decrease from RMB 2,290 million in Q3 2023, attributed to reduced loan-related expenses and the exit from Lufax Jin Tong[18]. - Credit impairment losses increased by 9.0% to RMB 3,270 million in Q3 2024 from RMB 3,001 million in Q3 2023, mainly due to increased provisions related to loans and certain investment assets[19]. Loan and Borrower Statistics - As of September 30, 2024, the total loan balance was RMB 213.1 billion, a decline of 41.8% from RMB 366.3 billion as of September 30, 2023[10]. - New loans enabled in Q3 2024 totaled RMB 50.5 billion, unchanged from RMB 50.5 billion in the same period of 2023, with consumer finance new loans increasing by 27.8% to RMB 26.4 billion[10]. - The number of cumulative borrowers increased by 24.1% to approximately 24.8 million as of September 30, 2024, up from approximately 20.0 million a year earlier[10]. - The NPL (Non-Performing Loan) ratio for consumer finance loans was 1.2% as of September 30, 2024, down from 1.4% as of June 30, 2024[11]. - The proportion of loans under the company's risk (including consumer finance subsidiaries) increased to 64.2% as of September 30, 2024, from 31.8% a year earlier[10]. Financial Position - As of September 30, 2024, the company's bank deposits were RMB 27,039 million, down from RMB 39,599 million as of December 31, 2023[22]. - Customer loans amounted to RMB 111,370,640 thousand as of September 30, 2024, down from RMB 129,693,954 thousand as of December 31, 2023, indicating a decrease of 14.2%[27]. - Total assets decreased to RMB 206,449,110 thousand as of September 30, 2024, from RMB 237,023,009 thousand as of December 31, 2023, reflecting a decline of 12.9%[27]. - The company’s total liabilities were RMB 120,108,859 thousand as of September 30, 2024, down from RMB 143,339,227 thousand as of December 31, 2023, a decrease of 16.2%[27]. - The company’s cash and cash equivalents, including restricted cash, totaled RMB 27,038,935 thousand as of September 30, 2024, compared to RMB 39,598,785 thousand as of December 31, 2023, a decrease of 31.9%[27]. - The company reported a total equity of RMB 86,340,251 thousand as of September 30, 2024, down from RMB 93,683,782 thousand as of December 31, 2023, a decrease of 7.9%[28]. Strategic Focus and Advisory - The company is focused on empowering small and micro business owners through financial services, indicating a strategic commitment to this market segment[8]. - The company emphasizes that shareholders and potential investors should not overly rely on the Q3 results and should consult professional advisors when trading its securities[7]. - The company’s independent financial advisor has maintained its recommendation regarding the fairness of the offers made to shareholders, advising against acceptance of the offers[5]. - The financial estimates have been reported by the company’s auditors and independent financial advisor, confirming adherence to accounting policies and methods[4]. - The announcement includes forward-looking statements that are subject to risks and uncertainties, which may affect future performance and financial trends[6]. - The company maintained a cautious and diligent approach to its business strategy, focusing on both micro and non-micro enterprise clients[13]. Cash Flow - The net cash used in operating activities for the three months ended September 30, 2024, was RMB 503,690 thousand (USD 71,775)[29]. - The net cash used in investing activities for the nine months ended September 30, 2024, was RMB 4,003,836 thousand (USD 570,542)[29]. - The net cash used in financing activities for the three months ended September 30, 2024, was RMB 8,969,996 thousand (USD 1,278,214)[29]. - The total cash and cash equivalents decreased by RMB 10,433,558 thousand (USD 1,486,770) for the three months ended September 30, 2024[29]. - The company has a significant difference of RMB 17,074 million (USD 2,433 million) between cash and cash equivalents and bank deposits due to time deposits exceeding three months[29].

Financial Performance - Total revenue decreased by 33.1% from RMB 19.35 billion for the six months ended June 30, 2023, to RMB 12.94 billion for the six months ended June 30, 2024[21]. - The net loss for the six months ended June 30, 2024, was RMB 1.56 billion, compared to a net profit of RMB 1.74 billion for the same period in 2023[17]. - The company reported a total comprehensive loss of RMB (1,634,621) thousand for the six months ended June 30, 2024, compared to a total comprehensive income of RMB 1,059,353 thousand in 2023[80]. - Basic earnings per share for the first half of 2024 were RMB (1.45), compared to RMB 1.43 in the same period of 2023, indicating a decline in profitability per share[80]. - The company reported a net loss attributable to owners of RMB (1,662,535) thousand in 2024, compared to a profit of RMB 1,637,325 thousand in 2023[126]. Revenue Sources - Technology platform revenue decreased by 49.9% from RMB 9,086 million for the six months ended June 30, 2023, to RMB 4,552 million for the six months ending June 30, 2024[22]. - The company reported a significant decrease in revenue from zero retail credit empowerment service fees, dropping from RMB 8,978,365 thousand in 2023 to RMB 4,506,407 thousand in 2024, a decline of about 49.9%[108]. - The revenue from technology platform services decreased from RMB 9,086,070 thousand in 2023 to RMB 4,551,892 thousand in 2024, reflecting a decline of about 49.9%[108]. Expenses and Cost Management - Total expenses decreased by 24.0% from RMB 16,920 million to RMB 12,857 million, attributed to cost control measures related to outstanding loan balances and new loan sales[23]. - Sales and marketing expenses decreased by 48.1% from RMB 5,570 million to RMB 2,890 million, due to reduced commissions from new loan sales and optimization of the sales team[24]. - General and administrative expenses decreased by 20.5% from RMB 1,249 million to RMB 993 million, mainly due to reduced taxes and cost control measures[24]. - Employee benefits expenses for the six months ended June 30, 2024, were RMB 4,423 million, down from RMB 6,190 million for the same period in 2023[40]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 216,930,102 thousand, a decrease from RMB 237,023,009 thousand as of December 31, 2023[82]. - The company's total liabilities decreased to RMB 134,253,699 thousand from RMB 143,339,227 thousand, showing a reduction of approximately 6%[82]. - Cash and cash equivalents decreased from RMB 46,928 million as of June 30, 2023, to RMB 37,114 million as of June 30, 2024[28]. - The company’s total customer deposits reached RMB 3,126,937 thousand as of June 30, 2024, compared to zero as of December 31, 2023[163]. Credit and Risk Management - The expected credit loss (ECL) provision was RMB 9,374,361 thousand, a decrease from RMB 9,651,158 thousand as of December 31, 2023, representing a reduction of 16%[101]. - The expected credit loss rate increased from 38.02% as of December 31, 2023, to 39.83% as of June 30, 2024[134]. - The total amount of expected credit losses and financing guarantee liabilities related to expected credit losses was RMB 10,729,651 thousand as of June 30, 2024, down from RMB 11,459,365 thousand as of December 31, 2023[101]. - The company’s total expected credit loss model parameters changed, resulting in a net effect of RMB 428,356 thousand on expected credit losses during the reporting period[159]. Shareholder Information - As of June 30, 2024, the total number of issued and outstanding shares is 1,147,095,737 shares[49]. - Major shareholder An Technology holds 285,000,000 shares, representing approximately 24.85% of the total equity[52]. - Major shareholder Ping An Overseas Holdings owns 189,905,000 shares, accounting for about 16.56% of the total equity[52]. - Ping An Insurance holds 474,905,000 shares, which is approximately 41.40% of the total equity[52]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with relevant regulations[69]. - The company has adhered to all applicable corporate governance code provisions during the reporting period, with one exception regarding the dual role of the Chairman and CEO[68]. - The independent auditor has reviewed the interim financial information and found no significant issues[76]. Strategic Initiatives - The company aims to leverage Ping An Group's brand reputation and technological resources to strengthen its market position[18]. - The company completed the acquisition of all issued share capital of PAO Bank Limited on April 2, 2024[33]. - The company has successfully transitioned to a 100% guarantee business model as of Q4 2023, eliminating the need for third-party credit enhancement[34]. Future Outlook - The company has no significant future investment or capital asset plans as of June 30, 2024[34]. - The company will continue to evaluate the separation of the roles of Chairman and CEO as necessary[68]. - The report includes forward-looking statements based on current expectations and involves inherent risks and uncertainties[71].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Lufax Holding Ltd 陸金所控股有限公司 （於開曼群島註冊成立的有限公司） （股份代碼：6623） （紐交所股票代碼：LU） 截至2024年6月30日止六個月 未經審計中期業績公告 陸金所控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其子公司 及併表實體截至2024年6月30日止六個月的未經審計中期業績。本公告列載本公 司2024年中期報告（「2024年中期報告」）全文，並符合香港聯合交易所有限公司 （「聯交所」）證券上市規則有關中期業績初步公告附載資料的相關規定。該等中期 業績已由本公司審核委員會及本公司核數師羅兵咸永道會計師事務所審閱。 本業績公告將刊載於聯交所網站 (www.hkexnews.hk) 及本公司網站 (https://ir.lufaxholding.com/)。2024年中期報告將於上述聯交所及本公司網站刊 載，其印刷本將於適當時候寄發予本公司股東（如有 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 陆金所控股 LUFAX Lufax Holding Ltd 陸金所控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6623） （紐交所股票代碼：LU） 內幕消息 截至2024年6月30日止季度的未經審計財務業績 | --- | --- | |---------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------| | | | | 本公告乃根據《香港聯合交易所有限公司證券上市規則》第 13.09 《證券及期貨條例》第 XIVA 部刊發。 | 條及第 571 章 | | 陸 金所控股有限公司（「 本公司 團 」 ...

Financial Performance - Total revenue decreased from RMB 58.116 billion for the year ended December 31, 2022, to RMB 34.255 billion for the year ended December 31, 2023[7]. - Net profit fell from RMB 8.775 billion for the year ended December 31, 2022, to RMB 1.034 billion for the year ended December 31, 2023, resulting in a net profit margin of 3%[7]. - Total expenses decreased by 27.7% from RMB 45,102 million in 2022 to RMB 32,610 million in 2023, attributed to operational expense optimization and reduced loan sales[72]. - Net profit dropped by 88.2% from RMB 8,800 million in 2022 to RMB 1,000 million in 2023, influenced by various factors including reduced revenue[76]. - Cash and cash equivalents decreased from RMB 43,882 million in 2022 to RMB 39,599 million in 2023[77]. - Operating cash flow for 2023 was RMB 15,030 million, significantly higher than RMB 4,455 million in 2022[78]. Loan Issuance and Balances - As of December 31, 2023, Lufax's loan balance was RMB 315.4 billion, a decrease of 45.3% compared to December 31, 2022[7]. - The total new loan issuance for the year ended December 31, 2023, was RMB 208 billion, down from RMB 495.4 billion for the year ended December 31, 2022[7]. - The new loan issuance for consumer finance in the year ended December 31, 2023, was RMB 71.2 billion, with a non-performing loan ratio of 1.5%[7]. - Lufax aims for new loan sales in 2024 to be between RMB 190 billion and RMB 220 billion, with year-end loan balances projected between RMB 200 billion and RMB 230 billion[8]. - The total new loan volume for consumer finance loans in 2023 was RMB 71.2 billion, accounting for 34.2% of the total[25]. Risk Management - The company has implemented five major risk mitigation and diversification measures to adapt to the challenging macroeconomic environment affecting small and micro enterprises[8]. - The company has gradually reduced reliance on third-party credit enhancement providers, focusing on internal credit ratings for borrowers[9]. - The non-performing loan ratio for consumer finance loans as of December 31, 2023, was 1.5%, unchanged from the previous year[36]. - The company employs a dynamic risk rating system for borrowers, categorizing them from R1 (lowest risk) to R6 (highest risk), focusing on higher-rated borrowers[55]. - The company’s risk pricing model considers the borrower's risk rating, debt-to-income ratio, and asset value to determine appropriate risk pricing[50]. Operational Changes - The company completed a business transformation to a 100% guarantee model in Q4 2023, eliminating the need for third-party credit enhancement for new loan transactions[9]. - The company has established partnerships with 85 financial institutions, many of which have been partners for over three years[7]. - The company has successfully transitioned to a 100% guaranteed business model for new loan transactions as of Q4 2023[83]. - The company has established agreements with funding partners to regulate financing arrangements and financial guarantees under the 100% guarantee business model[41]. Employee and Operational Metrics - The company employed over 1,500 staff for targeted telemarketing and online sales activities as of December 31, 2023[20]. - The average monthly contribution of new loans per employee in the telemarketing and online sales channel was RMB 78,200 (approximately USD 11,000) in 2023[20]. - The company employed a total of 36,215 employees as of December 31, 2023, with a total employee benefit expense of RMB 12,529 million for the year[88]. - The sales and marketing department accounted for the largest share of employees, with 24,665 staff members[89]. Governance and Compliance - The company has adopted the Corporate Governance Code as a benchmark for its governance practices since its listing date until December 31, 2023[91]. - The board consists of a balanced mix of executive and non-executive directors, ensuring strong independence and effective decision-making[93]. - The company has maintained at least three independent non-executive directors, meeting the listing rules requirements[99]. - The board is responsible for overseeing the company's operations and financial performance, ensuring robust internal controls and risk management[97]. - The company has implemented a code to regulate all securities transactions by directors and relevant employees, confirming compliance since the listing date[92]. Shareholder Information - The company has 1,146,319,171 shares issued and outstanding as of December 31, 2023, excluding treasury shares[147]. - The company declared an interim dividend of $0.078 per share or $0.039 per American Depositary Share for the six months ended June 30, 2023[154]. - The company has received a waiver from the Stock Exchange to retain treasury shares, subject to specific conditions regarding future share repurchases and issuance[147]. - The company has a robust internal control assessment process conducted regularly by all departments to identify potential risks[119]. Future Outlook and Challenges - The company faces significant risks, including increased credit risk exposure and potential regulatory changes that could adversely affect its business operations and financial performance[140]. - The company reported that its business model updates may not succeed, which could impact future performance[140]. - The company’s ability to obtain sufficient and sustainable funding at commercially attractive costs is uncertain[140]. - The company’s financial performance may be significantly affected by severe or prolonged economic downturns in China or globally[140].

Financial Performance - For Q1 2024, total revenue was RMB 6,964 million (approximately USD 964 million), a decrease of 30.9% compared to RMB 10,078 million in Q1 2023[8] - The net loss for Q1 2024 was RMB 830 million (approximately USD 115 million), compared to a net profit of RMB 732 million in Q1 2023, representing a significant increase in losses of 213.3%[8] - Total expenses for Q1 2024 were RMB 6,517 million, down 27.3% from RMB 8,964 million in Q1 2023[9] - The company reported a significant reduction in total expenses excluding credit impairment losses and financing costs, which decreased by 37.0% to RMB 3,580 million[9] - Total revenue for the three months ended March 31, 2024, was RMB 6,963,764 thousand, a decrease from RMB 10,077,752 thousand for the same period in 2023, representing a decline of approximately 30.9%[30] - The net profit for the three months ended March 31, 2024, was a loss of RMB 829,961 thousand, compared to a net profit of RMB 732,370 thousand for the same period in 2023[30] - The company reported a basic and diluted loss per share of RMB 0.76 for the three months ended March 31, 2024, compared to earnings of RMB 0.59 for the same period in 2023[30] Cash and Liquidity - As of March 31, 2024, the company's bank deposits were RMB 39,442 million (approximately USD 5,463 million), a slight decrease from RMB 39,599 million as of December 31, 2023[23] - The company’s cash and cash equivalents, including restricted cash, totaled RMB 54,104,707 thousand as of March 31, 2024, compared to RMB 50,744,623 thousand as of December 31, 2023, showing an increase of approximately 6.9%[31] - Cash and cash equivalents at the end of March 31, 2024, totaled RMB 22,235,553 thousand, down from RMB 32,254,754 thousand at the end of the previous year[34] - The company’s cash and cash equivalents increased by RMB 3,755,457 thousand during the three months ended March 31, 2024, compared to an increase of RMB 2,717,243 thousand in the same period of the previous year[34] - The impact of foreign exchange rate changes on cash and cash equivalents was RMB 6,701 thousand for the three months ended March 31, 2024[34] Loan and Borrower Metrics - As of March 31, 2024, the enabled loan balance was RMB 270.2 billion, a decrease of 45.4% from RMB 495.2 billion as of March 31, 2023[9] - In Q1 2024, the newly enabled loans amounted to RMB 48.1 billion, a decrease of 15.6% compared to RMB 57.0 billion in the same period of 2023[10] - The risk-bearing ratio of newly enabled loans (excluding consumer finance subsidiaries) increased from 22.6% in Q1 2023 to 100% in Q1 2024[10] - The overdue rate for loans enabled (excluding consumer finance subsidiaries) for over 30 days was 6.6% as of March 31, 2024, down from 6.9% as of December 31, 2023[11] - As of March 31, 2024, the cumulative number of borrowers increased by 12.4% to approximately 21.7 million from about 19.4 million as of March 31, 2023[10] - Consumer finance loans accounted for 42% of new loan sales in Q1 2024, up from 24% in the same period last year[13] - The NPL rate for consumer finance loans was 1.6% as of March 31, 2024, compared to 1.5% as of December 31, 2023[11] Expense Management - Total expenses decreased by 27% from RMB 8,964 million in Q1 2023 to RMB 6,517 million (approximately USD 903 million) in Q1 2024, mainly due to a 50% reduction in sales and marketing expenses[17] - Sales and marketing expenses decreased by 49.9% from RMB 3,030 million in Q1 2023 to RMB 1,518 million (approximately USD 210 million) in Q1 2024, attributed to reduced loan-related expenses and lower platform service referral costs[18] - General and administrative expenses decreased by 36.2% from RMB 756 million in Q1 2023 to RMB 483 million (approximately USD 67 million) in Q1 2024, due to cost control measures and reduced taxes and surcharges[19] Future Outlook and Strategic Initiatives - The company plans to focus on enhancing its technology platform and expanding its market presence in the upcoming quarters, aiming for a rebound in user engagement and revenue growth[30] - The company has indicated expectations for future growth in retail credit empowerment, driven by increased demand for its services and improved market acceptance[30] - The company is actively exploring potential mergers and acquisitions to strengthen its market position and diversify its service offerings[30] - The company is expected to continue its focus on strategic financial management and operational efficiency in the upcoming quarters[39] Compliance and Governance - The financial results were prepared in accordance with International Financial Reporting Standards, consistent with the accounting policies adopted for the audited consolidated financial statements for the year ended December 31, 2023[3] - The company’s financial advisor and auditor have reported on the estimates made for the financial results, ensuring compliance with relevant regulations[4] - The company cautioned shareholders and potential investors not to overly rely on the Q1 results when making investment decisions[6] - The announcement includes forward-looking statements regarding the company's future business development and financial performance[6] - The company is subject to risks and uncertainties that may affect its future performance, as detailed in filings with the SEC and the stock exchange[6] - The management accounts for the three months ended March 31, 2024, were prepared in accordance with the accounting policies consistent with those adopted in the audited financial statements for the year ended December 31, 2023[38] - The company’s board of directors is responsible for the estimates and has confirmed that they were prepared based on the management accounts[39] - UBS AG has reviewed the basis of the estimates and confirmed that they align with the company’s usual accounting policies[40]

Financial Performance - For Q4 2023, total revenue was RMB 6,857 million (approximately USD 966 million), a decrease of 44.3% compared to RMB 12,318 million in Q4 2022[7] - The net loss for Q4 2023 was RMB 832 million (approximately USD 117 million), slightly higher than the net loss of RMB 806 million in Q4 2022, representing an increase of 3.3%[7] - The company reported a total income of RMB 34,255 million for the full year 2023, a decrease of 41.1% compared to RMB 58,116 million in 2022[8] - The total expenses for the full year 2023 were RMB 32,610 million, down 27.7% from RMB 45,102 million in 2022[8] - Total revenue for Q4 2023 was RMB 6,857 million (approximately USD 966 million), a decrease of 44.3% compared to RMB 12,318 million in the same period of 2022[14] Loan and Borrower Metrics - As of December 31, 2023, the enabled loan balance was RMB 315.4 billion, down 45.3% from RMB 576.5 billion as of December 31, 2022[8] - The cumulative number of borrowers increased by 10.0% to approximately 20.94 million from about 19.02 million as of December 31, 2022[9] - New loans enabled in Q4 2023 amounted to RMB 47 billion, a decrease of 39.6% compared to RMB 77.8 billion in the same period of 2022[9] - The risk-bearing ratio for new loans enabled (excluding consumer finance subsidiaries) increased from 22.2% in Q4 2022 to 100% in Q4 2023[9] - As of December 31, 2023, the company's risk-bearing loan balance ratio increased from 23.5% on December 31, 2022, to 39.8%[10] Credit Quality and Impairment - The 30-day overdue rate for enabled loans as of December 31, 2023, was 6.9%, up from 6.0% as of September 30, 2023[10] - The non-performing loan (NPL) rate for consumer finance loans as of December 31, 2023, was 1.5%, compared to 1.4% as of September 30, 2023[12] - Credit impairment losses decreased by 43.0% to RMB 3,567 million (approximately USD 502 million) in Q4 2023 from RMB 6,259 million in Q4 2022, attributed to lower loan balances[21] - The company's leverage ratio for its guarantee subsidiary was only 1.8 times, well below the regulatory limit of 10 times[14] Cash Flow and Liquidity - Operating cash flow for Q4 2023 was RMB 4,692,133, a decrease of 2.7% compared to RMB 4,823,634 in Q4 2022[35] - The ending cash and cash equivalents for Q4 2023 stood at RMB 18,480,096, down from RMB 29,537,511 in Q4 2022, indicating a liquidity contraction[35] - For the full year 2023, operating cash flow was RMB 15,030,286, an increase from RMB 4,455,301 in 2022, reflecting strong operational performance[35] - The net cash used in investing activities for the full year 2023 was RMB (5,937,432), a significant decline from RMB 8,447,678 in 2022, indicating a strategic shift in investment[35] Special Dividend and Future Outlook - The estimated special dividend approved by the board is approximately RMB 10 billion, with a per-share amount of USD 2.42 for American Depositary Shares[14] - The company anticipates new loan sales for 2024 to be between RMB 190 billion and RMB 220 billion, with year-end balances expected between RMB 200 billion and RMB 230 billion[13] - The board of directors proposed a special dividend of USD 1.21 per ordinary share or USD 2.42 per American Depositary Share, subject to shareholder approval at the upcoming annual general meeting[24] Operational Changes and Partnerships - The company has established financing partnerships with 85 financial institutions in China, many of which have collaborated with the company for over three years[28] - The company successfully transitioned to a 100% guarantee model, which is expected to achieve full-year profitability for newly enabled loans[12] Miscellaneous - The company’s financial performance is based on the International Financial Reporting Standards and is subject to risks and uncertainties as outlined in their filings with the SEC[3] - The exchange rate used for converting RMB to USD is based on the actual rate of RMB 7.0999 per USD as of December 31, 2023[29] - The company emphasizes that forward-looking statements are based on current expectations and are subject to risks and uncertainties[30]

Financial Performance - The total revenue decreased by 41.1% from RMB 58,116 million for the year ended December 31, 2022, to RMB 34,255 million for the year ended December 31, 2023[3]. - The net profit for the year ended December 31, 2023, was RMB 1,034 million, down from RMB 8,775 million for the year ended December 31, 2022, resulting in a net profit margin of 3%[2]. - The company’s net interest income decreased by 34.9% from RMB 18,981 million for the year ended December 31, 2022, to RMB 12,348 million for the year ended December 31, 2023[4]. - The guarantee income fell by 40.4% from RMB 7,373 million for the year ended December 31, 2022, to RMB 4,392 million for the year ended December 31, 2023[4]. - Net profit decreased by 88.2% from RMB 8,800 million for the year ended December 31, 2022, to RMB 1,000 million for the year ended December 31, 2023[9]. - The company recorded a total comprehensive income of RMB 569,505 thousand for the year ended December 31, 2023, down from RMB 7,194,190 thousand in the previous year[22]. - Basic earnings per share for the year ended December 31, 2023, were RMB 0.77, compared to RMB 7.60 for the previous year, indicating a substantial decrease[24]. Expenses and Cost Management - The total expenses decreased by 27.7% from RMB 45,102 million for the year ended December 31, 2022, to RMB 32,610 million for the year ended December 31, 2023[5]. - Sales and marketing expenses decreased by 37.4% from RMB 15,757 million for the year ended December 31, 2022, to RMB 9,867 million for the year ended December 31, 2023[6]. - General and administrative expenses decreased by 18.6% from RMB 2,830 million for the year ended December 31, 2022, to RMB 2,305 million for the year ended December 31, 2023[6]. - Operating and service expenses decreased by 4.8% from RMB 6,430 million for the year ended December 31, 2022, to RMB 6,119 million for the year ended December 31, 2023[6]. - Credit impairment losses decreased by 23.3% from RMB 16,550 million for the year ended December 31, 2022, to RMB 12,697 million for the year ended December 31, 2023[6]. Loans and Credit Management - The loan balance as of December 31, 2023, was RMB 315.4 billion, a decrease of 45.3% compared to RMB 576.5 billion as of December 31, 2022[3]. - The company achieved a new loan sales risk-bearing increase to 49.8% as of December 31, 2023, compared to 21.3% as of December 31, 2022[1]. - New loans issued in 2023 amounted to RMB 126,598,504 thousand, a significant decrease compared to the previous year[60]. - The total customer loans on the balance sheet as of December 31, 2022, amounted to RMB 218,509,623 thousand, while as of December 31, 2023, it decreased to RMB 136,967,787 thousand[60]. - The expected credit loss ratio increased from 3.23% in 2022 to 5.31% in 2023[57]. - The total expected credit loss provisions as of December 31, 2023, were RMB 7,273,833 thousand, up from RMB 7,062,978 thousand in 2022[61]. - The company wrote off customer loans amounting to RMB 6,572 million in 2023, with ongoing collection efforts for previously written-off amounts[61]. Cash Flow and Liquidity - Cash and cash equivalents decreased from RMB 43,882 million as of December 31, 2022, to RMB 39,599 million as of December 31, 2023[10]. - Operating cash inflow for the year ended December 31, 2023, was RMB 15,030 million, compared to RMB 4,455 million for the year ended December 31, 2022[11]. - Financing cash outflow for the year ended December 31, 2023, was RMB 20,555 million, primarily due to payments for redeeming convertible notes and borrowings[11]. - Cash and cash equivalents decreased to RMB 39,598,785 thousand from RMB 43,882,127 thousand, a reduction of about 10%[25]. - Operating cash flow increased significantly from RMB 4,455,301 thousand in 2022 to RMB 15,030,286 thousand in 2023, representing a growth of approximately 237%[30]. Corporate Governance and Shareholder Returns - The board proposed a special dividend to be paid from the share premium account, subject to shareholder approval at the annual general meeting on May 30, 2024[67]. - The company declared dividends amounting to RMB 1,438,792 thousand during the year[29]. - The company declared a cash dividend of $0.68 per share based on 1,144,226,418 shares for the fiscal year ending December 31, 2022, which was paid on April 2022[66]. - The audit committee, consisting of three independent non-executive directors, oversees the integrity of the company's financial statements and compliance with legal and regulatory requirements[71]. - The company has complied with all applicable provisions of the Corporate Governance Code since its listing date until December 31, 2023, with the exception of the separation of roles between the chairman and CEO[68]. Future Outlook and Strategic Initiatives - The company anticipates growth in retail credit financing and wealth management markets[80]. - Future business development and financial performance are expected to be influenced by economic and regulatory factors[80]. - The company plans to enhance its service demand and market acceptance[80]. - The company aims to expand its market presence and explore new strategies for growth[80].

Financial Performance - For Q3 2023, total revenue was RMB 8,050 million (approximately USD 1,103 million), a decrease of 39.0% compared to RMB 13,193 million in Q3 2022[5] - Net profit for Q3 2023 was RMB 131 million (approximately USD 18 million), down 90.3% from RMB 1,355 million in the same period last year[6] - Total revenue for Q3 2023 was RMB 8,050 million (approximately USD 1,103 million), a decrease of 39.0% compared to RMB 13,193 million in Q3 2022[12] - Net profit for the three months ended September 30, 2023, was RMB 130,973 thousand, down 90.3% from RMB 1,354,639 thousand in the same period last year[25] - The company reported a basic earnings per share of RMB 0.08 for the three months ended September 30, 2023, compared to RMB 1.16 for the same period in 2022, a decline of 93.1%[25] Loan and Borrower Metrics - As of September 30, 2023, the enabled loan balance was RMB 366.3 billion, a decline of 42.5% from RMB 636.5 billion a year earlier[7] - The number of cumulative borrowers increased by 6.8% year-over-year to approximately 20.0 million as of September 30, 2023[7] - New enabled loans in Q3 2023 amounted to RMB 50.5 billion, a decrease of 59.2% from RMB 123.8 billion in Q3 2022[7] - The risk-bearing ratio for new enabled loans (excluding consumer finance subsidiaries) rose from 21.7% in the previous year to 54.3% in Q3 2023[8] - The 30-day overdue rate for enabled loans was 6.0% as of September 30, 2023, compared to 5.9% as of June 30, 2023[8] - The non-performing loan (NPL) rate for consumer finance loans was 1.9% as of September 30, 2023, down from 2.2% as of June 30, 2023[8] Expenses and Cost Management - Total expenses for Q3 2023 were RMB 7,747 million (approximately USD 1,062 million), down 30.1% from RMB 11,082 million in Q3 2022[15] - Sales and marketing expenses decreased by 43.7% to RMB 2,290 million (approximately USD 314 million) in Q3 2023 from RMB 4,071 million in Q3 2022[16] - General and administrative expenses decreased by 15.6% from RMB 592 million in Q3 2022 to RMB 500 million (approximately USD 69 million) in Q3 2023, primarily due to cost control measures and a reduction in taxes and additional fees[17] - Operating and service expenses decreased by 7.6% from RMB 1,600 million in Q3 2022 to RMB 1,478 million (approximately USD 203 million) in Q3 2023, attributed to cost control measures and a decrease in loan balances, partially offset by increased resources invested in post-loan services[17] - Technology and analysis expenses decreased by 21.0% from RMB 484 million in Q3 2022 to RMB 382 million (approximately USD 52 million) in Q3 2023, due to optimization of the technology and research team and improved efficiency[17] - Credit impairment losses decreased by 24.1% from RMB 3,956 million in Q3 2022 to RMB 3,001 million (approximately USD 411 million) in Q3 2023, mainly due to a reduction in loan balances leading to decreased provisions for loans and receivables[17] - Financing costs decreased by 86.9% from RMB 306 million in Q3 2022 to RMB 40 million (approximately USD 5 million) in Q3 2023, primarily due to increased interest income from bank deposits and reduced interest from early repayment of convertible notes and other USD debts[18] Cash Flow and Assets - As of September 30, 2023, bank deposits were RMB 39,781 million (approximately USD 5,452 million), down from RMB 43,882 million as of December 31, 2022[20] - As of September 30, 2023, net assets were RMB 94,325 million (approximately USD 12,928 million), slightly down from RMB 94,787 million as of December 31, 2022[20] - The total assets as of September 30, 2023, were RMB 259,176,715 thousand, down from RMB 349,262,807 thousand as of December 31, 2022, representing a decrease of 25.8%[26] - Customer loans decreased to RMB 146,836,102 thousand as of September 30, 2023, from RMB 211,446,645 thousand as of December 31, 2022, a decline of 30.6%[26] - The company’s total liabilities as of September 30, 2023, were RMB 164,851,246 thousand, a decrease of 35.2% from RMB 254,476,132 thousand as of December 31, 2022[26] - The company’s cash and cash equivalents decreased to RMB 39,780,863 thousand as of September 30, 2023, from RMB 43,882,127 thousand as of December 31, 2022, a decline of 9.5%[26] Future Outlook - The company anticipates ongoing challenges in loan demand and market acceptance, impacting future revenue growth[4] - The company plans to acquire 100% equity of Ping An OneConnect Bank, pending approval from the Hong Kong Monetary Authority and shareholders[10] - The company maintained a capital adequacy ratio of 100% for Ping An OneConnect Bank, well above regulatory requirements[10] - The company has established financing and credit enhancement partnerships with 91 financial institutions in China, many of which have collaborated with the company for over three years[22] Investment and Cash Flow Activities - The net cash generated from operating activities for the three months ended September 30, 2023, was RMB 5,057,374 thousand, compared to RMB 2,368,661 thousand for the same period in 2022, representing a significant increase[28] - The net cash used in investing activities for the nine months ended September 30, 2023, was RMB 19,675,057 thousand, compared to RMB 4,459,025 thousand for the same period in 2022, indicating a substantial increase in investment outflows[28] - The cash flow from operating activities for the nine months ended September 30, 2023, was RMB 7,384,143 thousand, which is a significant increase compared to the previous year's figure[28] - The impact of foreign exchange rate changes on cash and cash equivalents was RMB 504,849 thousand for the nine months ended September 30, 2023, compared to RMB 205,975 thousand for the same period in 2022, indicating a notable increase[28] - The total cash and cash equivalents decreased by RMB 6,630,828 thousand in the three months ended September 30, 2023, compared to an increase of RMB 1,471,786 thousand in the same period of 2022[28]