Lufax Holding Ltd
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Range $2.4 – $5.2
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About the company
Lufax Holding Ltd is a leading financial technology company based in China, delivering a wide array of personal financial services through its advanced digital platform. The company's core business involves providing various credit facilities, which include both unsecured and collateral-backed loans, alongside consumer financing options. Beyond lending, Lufax also manages investment opportunities for affluent and middle-class investors through its wealth management platforms, notably Lufax (Lu.
- CEO
- Xiang Ji
- IPO
- 2020
- Employees
- 33,163
- HQ
- Shanghai, SH, CN
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- Market Cap
- $1.21B
- P/E
- -3.06
- Fwd P/E
- 0.76
- PEG
- 0.02
- P/S
- 0.51
- P/B
- 0.05
- EV/EBITDA
- 6.11
- Div Yield
- 0.00%
- Gross Margin
- 32.57%
- Op Margin
- 5.90%
- Net Margin
- -8.36%
- ROE
- -1.66%
- ROIC
- 0.58%
Latest fiscal year · YoY change
- Revenue
- $28.13B+0.0%
- Gross Profit
- $21.08B+0.0%
- Op Income
- $-438,842,926
- Net Income
- $-2,040,527,108+0.0%
- EPS
- $-4.76+0.0%
- OCF Growth
- +0.0%
- FCF Growth
- +0.0%
- 52W High
- $4.57
- 52W Low
- $1.20
- 50D MA
- $1.40
- 200D MA
- $2.11
- Beta
- 0.72
- RSI (14)
- 44
- Avg Volume
- 1.15M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Lufax said second-quarter new loan sales returned to growth, asset quality improved sequentially, and management is leaning into a more selective, AI-driven strategy amid still-weak demand and tighter regulation.· August 18, 2026
- Total new loan sales were RMB 51.1 billion, up 4.6% year over year and 4.8% sequentially, while consumer finance new loan sales rose 27.6% year over year to RMB 36.9 billion.
- Asset quality improved in the quarter: C-M3 flow rate fell to 1.0% from 1.2% in Q1, DPD 30+ excluding consumer finance fell to 5.8% from 6.1%, and consumer finance NPL ratio improved to 1.3% from 1.4%.
- Total outstanding loan balance was RMB 167.3 billion, down 13.5% year over year, reflecting weak SBO demand and prudent underwriting.
- Management emphasized three priorities: grow mid- to low-risk customers, cut costs with AI-enabled operations, and strengthen internal controls and compliance.
- Hong Kong ordinary shares remain suspended, and management said it is still responding to HKEX questions while also returning to a normal reporting cadence after a long gap.
Lufax reported total new loan sales of RMB 51.1 billion in Q2, up 4.6% year over year and 4.8% quarter over quarter. Consumer finance new loan sales were RMB 36.9 billion, up 27.6% year over year. Total outstanding loan balance was RMB 167.3 billion, down 13.5% year over year. On asset quality, C-M3 flow rate was 1.0% versus 1.2% in Q1; unsecured C-M3 was 1.0% and secured C-M3 was 0.9%; DPD 30+ excluding consumer finance was 5.8% versus 6.1%; and consumer finance NPL ratio was 1.3% versus 1.4%. Average LONGi pricing was 20.4%, flat sequentially and slightly higher year over year, consumer finance pricing was 19%, and funding cost by balance excluding consumer finance was 3.8%, about 90 bps lower year over year. Management said total income declined 15.5% year over year, but did not provide an EPS figure in the call. Forward-looking commentary focused on continued pressure from weak SMB demand and regulatory pricing compression, while management expects growth to come from consumer finance, a broader mid- to low-risk customer mix, lower costs, and improving profitability over time. Management also said current cash is appropriate for the business, and that the dividend policy would be reviewed with the Board once profitability targets are achieved.
Xiang Ji framed the quarter as a transition back to a more normal reporting cadence and a governance reset, highlighting completed reaudits, current SEC filings, regained NYSE compliance, and a strengthened board and compliance framework. Strategically, he said Lufax will focus on growing mid- to low-risk customers, improving efficiency with AI, and maintaining a dual-engine approach across small business lending and consumer finance. His tone was cautious on the near term because of weak demand and regulatory pressure, but constructive on the medium to long term, especially for compliant players with better controls.
No separate CFO spoke; Xiang Ji covered the financial points. He said total income fell 15.5% year over year because LONGi balances declined as small business demand stayed weak and underwriting remained prudent, partly offset by consumer finance growth of nearly 20% year over year. He also said net loss narrowed meaningfully versus last year, though credit costs remained elevated relative to the income base due to the macro environment and tighter regulation. On funding, he noted cost of funding by balance excluding consumer finance was 3.8%, around 90 bps lower year over year, and said current cash is appropriate relative to the business scale and regulatory needs.
Analysts focused on strategy durability, the rising mix of consumer finance, regulatory tightening, capital return, asset quality, and the Hong Kong share suspension. Management said consumer finance is expected to remain a growth engine, but the company will keep optimizing the mix between consumer and SME lending based on market conditions. On regulation and funding stress, management said tighter rules create short-term pressure but should help compliant platforms gain share over time. On capital return, management said cash is currently appropriate and that any dividend policy review would come after profitability targets are achieved. On Hong Kong, management said it has completed the reaudits and internal control upgrades, but is still answering HKEX questions tied to the relevant filings before any resumption timeline can be provided.
The quarter showed improving operating momentum: new loan sales returned to growth, consumer finance expanded sharply, and several asset-quality indicators improved sequentially. Management sounded confident that the new strategy, lower funding costs, and AI-based operating improvements can support better profitability over time, especially as compliant leaders consolidate share in a tougher regulatory environment.
The core SMB market remains weak, with outstanding balances still down sharply year over year and total income falling 15.5%. Management also acknowledged elevated credit costs, margin compression from regulation, and ongoing uncertainty around the suspension of Hong Kong ordinary shares, with no clear resumption timeline yet.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 97.0%
- Shares Outstanding
- 866.69M
- Float Shares
- 840.69M
of shares held by institutions
89 13F filers
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 12.53M | ▲ 135.05K |
| Two Sigma Advisers, LP | 586.26K | ▼ 403.40K |
| Leading Securities Co Ltd | 514.32K | ▲ 140.99K |
| Shell Asset Management Co | 4.74K | ▼ 10.20K |
| Cwm, LLC | 3.93K | ▲ 3.00K |
Held by 207 ETFs
Biggest fund positions in LU by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 4, 26 | Chim Wai Kin | other | 0 |
| May 6, 26 | Wang Xiaodi | other | 0 |
| Apr 24, 26 | Ip Ernest Koon Wing | other | 0 |
| Apr 24, 26 | Cheng Siu Hong | other | 0 |
| Mar 18, 26 | Yip Dicky Peter | other | 0 |
| Apr 30, 21 | Cho Yong Suk | other | 100,000 |
| Dec 29, 21 | Cho Yong Suk | other | 400,000 |
| Mar 18, 26 | Chen Dongqi | other | 0 |
| Apr 30, 21 | Chen Dongqi | other | 300,000 |
| Mar 17, 26 | Ji Xiang (XJ) | other | 0 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our LU coverage
Recent articles, reports, and earnings notes.
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Generate LU report →Lufax H1 Earnings Call Highlights
marketbeat.com · Aug 19
Lufax Holding Ltd (LU) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 19
Lufax Reports Second Quarter 2026 Financial Results
prnewswire.com · Aug 18
Lufax to Announce Second Quarter 2026 Financial Results on August 18, 2026
prnewswire.com · Aug 13
Lufax Announces Board and Management Changes
prnewswire.com · Jul 24
Lufax Announces Results of Annual General Meeting
prnewswire.com · Jun 30
Bronstein, Gewirtz & Grossman LLC Urges Lufax Holding Ltd Investors to Act: Class Action Filed Alleging Investor Harm
newsfilecorp.com · May 20
CLASS ACTION DEADLINE TONIGHT: Faruqi & Faruqi, LLP Reminds Lufax (LU) Investors of Securities Class Action Deadline on May 20, 2026
gurufocus.com · May 20
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