Hong Kong · Delayed Price · Currency is HKD Lufax Holding Earnings Call Transcripts
Fiscal Year 2026
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Q3 loan sales grew 2.5% YoY, but income fell 4.6% and net loss reached CNY 1.494B as credit impairment rose. Management cited weak demand and regulatory pressure, while expecting temporary risk volatility and emphasizing selective, higher-quality growth.
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Restored regular reporting and strengthened governance, with Q2 new loan sales up 4.6% year-over-year and consumer finance driving growth. Asset quality improved sequentially, but total income declined 15.5% year-over-year amid macro and regulatory headwinds.
Fiscal Year 2024
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Q3 saw a 31.1% drop in total income and a net loss of RMB 725 million, but consumer finance loans grew 27.8% year-over-year. Asset quality remained stable, and funding costs are expected to decrease further. Management maintains full-year volume and loan balance guidance.
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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.