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 」 ...

Core Viewpoint Lufax Holding Ltd reported a significant decline in total income and a net loss for the second quarter of 2024, reflecting challenges in its business operations and a strategic shift towards improving asset quality and operational efficiency. Financial Highlights - Total income for Q2 2024 was RMB 5,976 million (US$ 822 million), down 35.5% from RMB 9,270 million in Q2 2023 [2][7] - Net loss for Q2 2024 was RMB 730 million (US$ 100 million), compared to a net profit of RMB 1,004 million in Q2 2023, marking a 172.7% decline [2][14] - For the first half of 2024, total income was RMB 12,940 million (US$ 1,781 million), a decrease of 33.1% from RMB 19,348 million in the same period of 2023 [3][7] Operational Highlights - The total outstanding balance of loans decreased by 44.8% to RMB 235.2 billion as of June 30, 2024, from RMB 426.4 billion a year earlier [4] - New loans enabled in Q2 2024 were RMB 45.2 billion, down 15.5% from RMB 53.5 billion in Q2 2023 [4] - The cumulative number of borrowers increased by 17.4% to approximately 23.2 million as of June 30, 2024, from approximately 19.7 million a year earlier [4] Income Breakdown - Technology platform-based income decreased by 51.0% to RMB 1,999 million (US$ 275 million) in Q2 2024, primarily due to reduced retail credit service fees and the exit from the Lujintong business [8][9] - Net interest income fell by 19.3% to RMB 2,716 million (US$ 374 million) in Q2 2024 [9] - Guarantee income decreased by 26.0% to RMB 850 million (US$ 117 million) in Q2 2024 [9] Expense Management - Total expenses decreased by 20.3% to RMB 6,341 million (US$ 873 million) in Q2 2024 from RMB 7,957 million in Q2 2023 [11] - Sales and marketing expenses dropped by 46.0% to RMB 1,372 million (US$ 189 million) in Q2 2024 [12][13] - Credit impairment losses decreased by 14.6% to RMB 2,560 million (US$ 352 million) in Q2 2024 [13] Balance Sheet and Cash Flow - Cash at bank was RMB 37,114 million (US$ 5,107 million) as of June 30, 2024, down from RMB 39,599 million at the end of 2023 [16] - The company reported a net cash generated from operating activities of RMB 2,997 million (US$ 412 million) in Q2 2024 [28]

Core Viewpoint - Lufax Holding Ltd announced the results of its annual general meeting, highlighting key resolutions approved by shareholders, including financial statements adoption and a special dividend declaration [1][2]. Financial Performance - The audited consolidated financial statements for the year ended December 31, 2023, were received and adopted by shareholders [1]. - A special dividend of US$1.21 per ordinary share or US$2.42 per ADS was declared and approved [1]. Board of Directors - Mr. Yong Suk CHO was re-elected as an executive director [2]. - Mr. Yonglin XIE was re-elected as a non-executive director [2]. - Mr. Weidong LI was re-elected as an independent non-executive director [2]. - The board of directors was authorized to fix the remuneration of the directors [2]. Auditor Appointment - PricewaterhouseCoopers was re-appointed as the auditor of the Company until the conclusion of the next annual general meeting [2]. - The board of directors was authorized to fix the auditor's remuneration for the year ending December 31, 2024 [2]. Company Overview - Lufax is a leading financial services enabler for small business owners in China, offering financing products tailored to their needs [3]. - The Company has established relationships with 85 financial institutions in China as funding partners, many of which have collaborated with Lufax for over three years [3].

SHANGHAI, April 23, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it will hold an annual general meeting of the Company's shareholders (the "AGM") at 10:00 a.m. Hong Kong time on May 30, 2024 at Room 3601, No. 1333 Lujiazui Ring Road, Pudong New District, Shanghai, the People's Republic of China, for the purposes of considering and, if thought fit, passing each of the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

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 Data and Key Metrics Changes - In Q1 2024, total new loan sales decreased by 15.6% year-on-year to RMB48.1 billion, primarily due to weak demand from small business owners (SBOs) and a focus on prudent operations [8][14] - Revenue for Q1 2024 was RMB7 billion, a decrease of 30.9% year-over-year, attributed to lower new loan sales and outstanding loan balances, partially offset by an increased take rate [14][23] - The net loss for Q1 2024 was RMB830 million, compared to a net profit of RMB732 million in the same quarter of 2023, mainly due to increased tax associated with the special dividend [14][26] Business Line Data and Key Metrics Changes - New loan sales in the consumer finance business grew to RMB20.3 billion in Q1 2024, representing a 46% year-over-year increase, while new loan sales from the Puhui business decreased by 35.5% year-over-year [8][14] - The consumer finance segment accounted for 42% of total new loan sales in Q1 2024, up from approximately 24% in the same period last year [14][16] Market Data and Key Metrics Changes - The Purchasing Managers' Index (PMI) for manufacturing increased from 49 in December 2023 to 50.8 in March 2024, while the services PMI rose from 49.3 to 52 [6] - The SME development index was 89.3 for Q1 2024, showing minimal improvement from 89.1 in Q4 2023 and 89.3 in Q1 2023, indicating a slow recovery in the SBO segment [7] Company Strategy and Development Direction - The company completed five major de-risking and diversification actions, which have started to yield improvements in asset quality, although operational prudence remains critical for long-term growth [8][12] - The acquisition of Ping An OneConnect Bank was completed in early April 2024, aimed at leveraging strong licenses to expand service offerings and diversify the business [11] Management's Comments on Operating Environment and Future Outlook - Management noted improvements in early risk indicators but emphasized the continued weakness in high-quality loan demand from SBOs, maintaining a focus on quality over quantity [6][12] - The company remains cautious about the sustainability of asset quality improvements and will continue to prioritize prudent operations [10][32] Other Important Information - A special dividend of USD 2.42 per ADS or USD 1.21 per ordinary share was announced, subject to shareholder approval at the AGM on May 30, 2024 [11] - The CFO, David Choy, will resign effective April 30, 2024, and Zhu Peiqing has been appointed as the new CFO [12] Q&A Session Summary Question: Update on special dividend progress and future shareholder returns - Management confirmed that the special dividend is subject to shareholder approval at the AGM and the long-term dividend policy remains unchanged at 20% to 40% of annual net profit [30][31] Question: Sustainability of asset quality improvement - Management acknowledged the improvement in asset quality but remains cautious about its sustainability, attributing improvements to de-risking efforts and a better quality portfolio [30][32] Question: Loan growth outlook for the rest of the year - Management indicated that while there has been early improvement, demand for high-quality loans remains subdued, and they will proceed with caution regarding loan volume expansion [34][35] Question: Unit economics and transition to 100% guarantee model - Management discussed the expected evolution of unit economics, noting that while new loans under the 100% guarantee model may incur initial losses, they are projected to be lifetime profitable [36][37] Question: Risk-bearing percentage outlook - Management stated that the risk-bearing percentage is expected to gradually increase as the new model is fully implemented, with 48.3% of total loan balance currently under the 100% guarantee model [40][41]

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]

SHANGHAI, April 22, 2024 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Total income was RMB6,964 million (US$964 million) in the first quarter of 2024, compared to RMB10,078 million in the same period of 2023. Net loss was RMB830 million (US$115 million) in the fi ...

Lufax Holding Ltd (NYSE:LU) Q4 2023 Results Conference Call March 21, 2024 9:00 PM ET Company Participants Xinyan Liu - Head of Board Office and Capital Markets Yong Cho - Co-CEO & Chairman of the Board Gregory Gibb - Co-CEO & Director Siu Choy - Chief Financial Officer Conference Call Participants Emma Xu - BofA Securities Richard Yu - Morgan Stanley Yada Li - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to Lufax Holding Limited Fourth Quarter 2023 Earnings Call. [Operator Ins ...