Lufax Holding Ltd (HKG:6623)
Hong Kong · Delayed Price · Currency is HKD 10.90
-0.12 (-1.09%)
Jan 27, 2025, 3:58 PM HKT
Lufax Holding Earnings Call Transcripts
Fiscal Year 2024
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Q3 2024 saw flat new loan sales year-over-year but 11.7% sequential growth, driven by consumer finance. Net loss reached CNY 725 million due to higher credit impairment losses, while asset quality indicators remained stable. Loan volume and balance guidance for 2024 are unchanged.
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Q2 2024 saw a 35.5% drop in total income and a net loss of CNY 730 million amid weak SME loan demand, but asset quality improved and consumer finance grew. Strategic synergies with Ping An Group and a new lending license are expected to lower funding costs and support future growth.