“昔日互金龙头”陆金所：38亿隐秘违规交易，买不良补偿散户

Core Viewpoint - Lufax Holdings, once a leading player in the internet finance sector, has revealed significant findings from an investigation into related party transactions, which have led to a prolonged suspension of its shares for over a year [1][4]. Group 1: Related Party Transactions - From 2017 to 2023, Lufax provided a total of 3.84 billion yuan in loans to Shenzhen Decheng Investment Development Co., Ltd. [1][7] - To mitigate reputational risks, Lufax allowed Decheng Investment, which it controls, to use part of the loan funds to acquire risk or non-performing assets sold on its platform, compensating retail investors for their losses [1][4]. - The investigation found that the accounting treatment of these compensation transactions did not reflect their economic substance, and three entities controlled by Lufax were not included in its consolidated financial statements [1][4]. Group 2: Compliance Issues - In April of last year, Lufax announced plans to invest 1.37 billion yuan through a subsidiary in several trusts managed by a non-related trust company, which were directed to purchase assets from related entities [3][9]. - This transaction did not comply with listing rules regarding announcements and lacked independent shareholder approval [3][9]. Group 3: Financial Performance and Market Position - As of the end of 2025, Lufax had a cumulative borrower count of 29.1 million, a 12.5% increase from the end of 2024 [6][12]. - The outstanding loan balance was 183.8 billion yuan, a decrease of 15.2% year-over-year, while the outstanding balance of consumer finance loans increased by 19% to 59.6 billion yuan [6][12]. - The overdue rates for loans over 30 days and 90 days were 5.6% and 3.4%, respectively, both showing an increase compared to the previous year's third quarter [6][12].