Core Insights - Lufax Holdings has reported significant changes in its operational metrics and leadership, including a decrease in total loan balance and an increase in consumer finance loans [1][2][5][7][8] Financial Performance - As of September 30, 2025, Lufax's total loan balance was RMB 189.6 billion, a decrease of 11.0% compared to RMB 213.1 billion in the same period of 2024 [2][5] - The consumer finance loan balance increased to RMB 58.9 billion, reflecting a year-on-year growth of 26.7% [5] - New loans issued in Q3 2025 totaled RMB 56.9 billion, up 12.8% from RMB 50.5 billion in Q3 2024, with consumer finance loans contributing RMB 31.7 billion, a 20.1% increase from RMB 26.4 billion [7] Asset Quality - The proportion of overdue loans (30 days or more) reached 5.1% as of September 30, 2025, up from 4.6% on June 30, 2025 [7] - The default rate for unsecured loans was 5.1%, an increase from 4.4%, while the rate for mortgage loans was slightly lower at 5.1%, compared to 5.3% previously [7] Leadership Changes - Lufax announced the appointment of Cheng Jianbo as the new Chief Risk Officer, effective October 24, 2025, following the resignation of Lin Yunzhen [8] - Cheng Jianbo has extensive experience in risk management, having held key positions in various financial institutions, including JD Digital Technology [8]

Core Insights - Lufax Holding announced key updates including a change in the Chief Risk Officer and operational highlights for the first three quarters of 2025 [1][7] Group 1: Loan Performance - As of September 30, 2025, Lufax's total loan balance was RMB 189.6 billion, a decrease of 11.0% compared to RMB 213.1 billion in the same period of 2024 [4][6] - Consumer finance loan balance increased to RMB 58.9 billion, reflecting a year-on-year growth of 26.7% [4] - New loans issued in Q3 2025 totaled RMB 56.9 billion, up 12.8% from RMB 50.5 billion in Q3 2024, with consumer finance loans contributing RMB 31.7 billion, a 20.1% increase from RMB 26.4 billion [6] Group 2: Asset Quality Challenges - The proportion of overdue loans (30 days or more) reached 5.1% as of September 30, 2025, up from 4.6% on June 30, 2025 [6] - The default rate for unsecured loans overdue by 30 days or more was 5.1%, an increase from 4.4% in the previous quarter, while the rate for mortgage loans was slightly lower at 5.1% compared to 5.3% [6] Group 3: Management Changes - Lufax appointed Cheng Jianbo as the new Chief Risk Officer effective October 24, 2025, following the resignation of Lin Yunzhen due to personal work arrangements [7] - Cheng Jianbo has extensive experience in risk management, having held significant positions in various financial institutions, including roles at JD Digital Technology and Puda Credit [7]