Lufax Holding Limited

LU

Equity

ISIN US54975P2011 / Valor 131038783

New York Stock Exchange, Inc (2024-12-24)

USD 2.39-1.65%

Lufax Holding Limited
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Lufax Holding Limited is a Chinese company that operates an online platform for personal financial services, focusing on lending and wealth management.

Summarized from source with an LLMView SourceSector: Finance

Income

Lufax Holding Limited reported a total income of RMB 6,963,764 thousand for the first quarter of 2024, a significant decrease from RMB 10,077,752 thousand in the same period of 2023. This decline was primarily driven by reductions in technology platform-based income and net interest income.

Expenses

Total expenses for Lufax Holding Limited in Q1 2024 amounted to RMB 6,516,501 thousand, down from RMB 8,963,525 thousand in Q1 2023. The decrease in expenses was mainly due to lower sales and marketing expenses, which fell to RMB 1,518,096 thousand from RMB 3,030,053 thousand in the previous year.

Net Profit

Lufax Holding Limited experienced a net loss of RMB 829,961 thousand in the first quarter of 2024, compared to a net profit of RMB 732,370 thousand in the same period of 2023. This shift to a net loss was influenced by higher income tax expenses and credit impairment losses.

Earnings Per Share

The basic and diluted loss per share for Lufax Holding Limited in Q1 2024 was RMB 0.76, compared to basic and diluted earnings per share of RMB 0.59 in Q1 2023. Similarly, the basic and diluted loss per ADS was RMB 1.52, down from earnings of RMB 1.18 per ADS in the previous year.

Outlook

Lufax Holding Limited has expressed cautious optimism regarding the demand for and market acceptance of its services in the coming quarters. The company expects to strengthen its relationships with borrowers, platform investors, and other business partners, despite the challenging economic and business conditions and evolving government policies and regulations in the industry.

Summarized from source with an LLMView Source

Key figures

-14.6%1Y

%3Y

%5Y

Performance

114%1Y

111%3Y

111%5Y

Volatility