陆金所控股并未止步于此， 最新的动作是 正式委任德勤管理咨询作为独立内部监控顾问，对集团内部监控政策与程序进行全面审查，范围覆盖 公司治理、财务报告、关联交易管理等关键领域。目前，德勤已提出改进建议，公司正在落实相应的整改措施。 这一 "外脑"的引入，标志着陆金所控股正在以最高标准重建其内部控制的"免疫系统"，旨在从制度源头杜绝类似情况的发生。通过引入外部专业 能力，公司持续夯实长期发展的治理基础，展现了其对投资者权益保护的坚定承诺。 复牌进展与业务运营： 有序推进，基本面保持稳定 关于复牌进展方面，陆金所控股正在积极推进相关工作，包括配合审计机构完成财报审计、落实内部监控整改措施等。公司表示，将根据上市规 则要求，适时就复牌进展作出进一步公告。 导语：企业的价值最终将回归其持续的盈利能力和为股东创造回报的潜力。 1 月 27 日晚，陆金所控股（ LU.US/06623.HK ）发布了有关复牌进展与最新经营状况的季度更新公告。公告在此前多次公开信息披露的基础 上，进一步披露了第三方独立调查组对过去特定交易的补充调查结论。同时，公司明确表示，独立内控审查与多年度审计工作均在有序推进中， 业务运营保持正常节奏。 ...

2026年1月27日，陆金所控股如期发布了一份有关复牌进展与最新经营状况的季度更新公告。 这份公告，远不止于一份例行的信息披露，它更像是一份详实的"工作进度清单"，清晰地勾勒出公司在 应对过去挑战、夯实发展根基道路上所迈出的每一个坚实步伐。 从对历史遗留问题的深度清查与定性，到引入顶级机构重构内控体系，再到核心业务在转型中展现出的 韧性，陆金所控股正以实际行动，回应市场的关切，展现改革成果，为价值重估铺路。 一、治理深化：厘清历史，构筑长远发展防火墙 公司在此前多次公开信披基础上，披露第三方独立调查组对过去特定交易的补充调查结论。 调查发现，一系列特定交易目的是对过往通过平台购买相关金融产品并承受损失的零售投资者进行补 偿。调查指出，相关交易的会计处理未能完全反映其经济实质。 一系列环环相扣、旨在固本培元的动作。 与此同时，公司治理层面的优化已获得外部权威认可。国际知名指数公司MSCI此前已将陆金所控股的 ESG评级上调至"AA"级，这一跃升在很大程度上得益于其在公司治理与内部控制方面的实质性改进。 内外并举的举措表明，陆金所控股正在将合规与治理从一项应对危机的"成本"，转化为支撑其未来可持 续发展的核心"资 ...

1月27日晚，陆控（06623.HK）发布有关复牌进度的季度更新公告，同步披露了2025年第四季度经营情 况摘要。公告显示，截至2025年12月31日，公司累计借款人数已增至约2910万人。同时，消费金融贷款 余额达到人民币596亿元，较上年同期增长19.0%；该板块在第四季度新增贷款人民币287亿元，同比增 长7.4%。 从用户基础夯实到核心业务增长，陆金所控股展现出其商业模式的内在韧性。在推进必要合规程序的同 时，这些基本面向好因素构成了公司应对当下、面向未来的有力支撑。 财经频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 在"小微+消金"双轮驱动模式下，公司消费金融业务展现出持续增长动力。用户基数的持续扩大与核心 业务板块的稳健增长，共同构成了陆控运营的基本盘。此外，公司所赋能贷款的C-M3迁徙率在第四季 度保持在1.1%的稳定水平。 公告亦更新了复牌相关工作的进展。陆控已获纽交所批准，将2024年度报告提交时间延长至2026年4月 30日，以保障对连续三个财年财务报表审计工作的质量。同时，公司委任的独立内部监控顾问正在推进 内控体系审查与整改。 ...

Core Insights - The online lending industry is undergoing significant tightening due to regulatory pressures, leading to a drastic reduction in funding availability for lending platforms [1][3][11] - Financial institutions are collectively raising the bar for cooperation with lending platforms, resulting in a clear divide between top-tier and lower-tier platforms [3][4][5] - The market is experiencing a structural tightening where quality assets attract funding while lower-quality platforms struggle to secure capital [7][9][10] Regulatory Changes - Regulatory bodies have mandated that banks and other financial institutions reduce their lending business balances significantly, with some local banks required to cut their lending business by 50% by the end of the year [3][4] - New regulations have led to a significant decrease in the average financing cost for consumer finance companies, with a target of keeping it below 20% starting in Q1 2026 [5][11] - The introduction of a "white list" system for cooperation has resulted in a concentration of resources towards financially robust and compliant lending platforms [11][12] Market Dynamics - The funding landscape is characterized by a rapid decline in loan issuance, with some platforms seeing monthly loan volumes drop from over 17 billion yuan to less than 3 billion yuan [1][7] - There is a notable shift in the funding strategy, where top-tier platforms are favored, while mid-tier and lower-tier platforms face severe funding challenges [6][9] - The overall market is experiencing a supply-demand imbalance, with many platforms unable to meet the funding needs due to regulatory constraints and asset quality concerns [8][10] Industry Outlook - Despite the current turmoil, there is a sense of hope among industry insiders that some lending platforms can survive by differentiating themselves from banks and consumer finance companies [1][12] - The industry is moving towards a more compliant and quality-focused model, with a clear trend towards reducing high-interest loans and focusing on sustainable business practices [11][12] - The potential for new opportunities exists as the market adjusts to the new regulations, with a shift towards lower-risk assets and a focus on operational profitability [12]

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]

截至2025年9月29日美国东部时间收盘，陆金所控股（LU.US）股价迎来异动，报收4.06美元/股，较前 一交易日上涨13.09%，成交量同步放大至7462万ADS，为过去1个月日均交易量的309%。 政策层面，金融监管总局推出多项举措支持普惠金融发展。尤其是《关于加强商业银行互联网助贷业务 管理提升金融服务质效的通知》（业内俗称"助贷新规"）将于10月1日起施行，行业头部公司凭借合规 与技术优势，将进一步强化头部效应，陆金所控股业务发展迎来政策窗口期。后续需关注公司业绩释放 节奏及消费金融业务增长持续性。 此次股价异动或与市场对其业务基本面的预期改善相关。此前公司披露的经营数据显示，核心业务已呈 现回升态势，2025年第二季度赋能新增贷款总额达489亿元，同比增长8.1%，消费金融新增贷款289亿 元，同比增长30.6%，业务结构优化成效显著。风险管控指标亦持续向好，30天以上逾期率从2024年第 三季度的5.2%降至4.6%，消费金融不良率稳定在1.2%的低位。 正面市场观点与机构评级为股价提供支持。中金公司维持"跑赢行业"评级，指出新增业务收入率（take rate）已提升至9.7%，随着贷款组合更新 ...

7月17日，陆控(06623HK,NYSE LU)发布复牌进度季度更新公告，并公布经营摘要载列：二季度所赋能 新增贷款总额为人民币489亿元，与24年同期相比，增加8.1%。 公司坚持以"质量为先"的审慎经营战 略，通过"小微+消金"双轮驱动，持续增强金融支持实体经济可持续性。消费金融贷款的尚未偿还余额 为545亿元， 同比增加29.8%。 ...

美东时间周四 (7 月 24 日) 美股收盘，陆控 (LU.US) 股价大涨 5.68%，收盘报 3.35 美元，当日成交额 2743.58 万美元。 陆控开盘即高开开走，最高涨至 3.41 美元，此一价格创下了四个月来的新高 —— 此前为 3 月 17 日的 3.379 美元；这也是陆控连续四个交易日上涨，四个交易日累计涨幅 19.6%, 近 20%。 值得注意的是，该公司过去两个交易日成交活跃，两个交易日交易额均突破 2000 万美元。今日 2741.33 万美元的交易额，亦是过去三个月新高。 市场层面，受特朗普称希望鲍威尔降息影响，美国三大股指收盘涨跌不一，道指跌 0.7%，标普 500 指 数涨 0.07%，纳指涨 0.18%。其中，标普 500 指数、纳指续创历史新高。 热门中概股收盘普跌，纳斯达克中国金龙指数跌 1.54%。此中，亿咖通科技涨近 18%，亿鹏能源涨约 10%，水滴公司涨约 9%，名创优品涨约 8%，大全新能源涨约 8%。 股价上涨，可能源于新增贷款总额同比增长、资产质量表现稳定等因素影响。 根据此前公告显示，陆控 2025Q2 多项关键数据持续向好。在新增贷款方面，2025 年第二 ...

Group 1: Financial Performance - In the first half of 2024, Lufax Holdings reported the highest revenue among nine fintech companies at 12.94 billion yuan, but experienced a year-on-year revenue decline of 33.12% and a net profit drop of 189.86% [1] - Qifu Technology achieved a revenue of 8.313 billion yuan, with a year-on-year revenue growth of 10.65% and a net profit increase of 25.41%, making it one of the few fintech companies with double-digit growth [1] - Overall, the nine listed fintech companies showed a trend of increasing revenue but declining net profits in the first half of 2024 [6] Group 2: Asset Quality and Risk Management - Many fintech companies are facing rising overdue rates due to a complex macro environment, with Xiaoying Technology reporting a 90-day overdue rate of 4.38%, an increase of 1.88 percentage points year-on-year [2] - Lufax's overdue rate increased by only 0.1 percentage points compared to the previous year, indicating a relatively stable asset quality [2] - The total outstanding loan balance for Lufax decreased by 44.80% year-on-year to 235.2 billion yuan, while Xiaoying Technology's outstanding loan balance fell by 7.25% [2] Group 3: Support for Small and Micro Enterprises - In Q2 2024, fintech companies continued to support the sustainable development of small and micro enterprises, with Qifu Technology's loan balance reaching 157.778 billion yuan and facilitating loans of 95.425 billion yuan [4] - Lufax's loan balance was 235.2 billion yuan, with new loans of 45.2 billion yuan and a 27.9% year-on-year growth in consumer finance loan balance [4] Group 4: International Expansion and Innovation - Several fintech companies are actively expanding into international markets, with Lexin's overseas business in Mexico showing a 61% quarter-on-quarter growth in loan issuance [8] - Financial One Account's overseas customer revenue contribution increased by 14.8% year-on-year, covering 20 countries and regions [8] Group 5: Diversification and Technological Innovation - Diversification into multiple business lines is emerging as a new growth point for fintech companies, with Lufax's consumer finance new loans accounting for 49% of total new loans [9] - Companies are increasing investments in technology R&D, with significant improvements in operational efficiency reported after implementing AI technologies [9]