Lufax Holding (LU) Company Report

Lufax Holding Ltd is seeking shareholder approval for the renewal of continuing connected transactions at an Extraordinary General Meeting (EGM) scheduled for Monday, December 29, 2025, at 9:30 a.m. (Hong Kong time).
The renewals include the 2026 Financial Services Framework Agreement and the 2026 Ping An Consumer Finance Collaboration Agreement, both with a term of three years commencing January 1, 2026, involving various financial and guarantee services with subsidiaries and associates of Ping An Insurance.
Under the 2026 Financial Services Framework Agreement, the proposed annual cap for the maximum daily balance of deposits with Ping An Bank for 2026 is RMB21,100.0 million, representing a 75.8% increase over the 2025 cap, primarily due to the May 2024 acquisition of a licensed small loan subsidiary and increased capital reserve.
The proposed 2026 Account Management Annual Cap is estimated to decrease to RMB861.2 million, reflecting the discontinuation of collaboration with Ping An Property & Casualty since October 2023.
An Ke Technology and Ping An Overseas Holdings, subsidiaries of Ping An Insurance that collectively hold approximately 66.85% of Lufax Holding Ltd's issued share capital, will abstain from voting on the resolutions at the EGM.

4 days ago

Lufax Holding Ltd Renews Key Connected Transactions with Ping An Insurance

New Projects/Investments

Lufax Holding Ltd announced on November 26, 2025, the renewal of several continuing connected transactions with Ping An Insurance and its subsidiaries, which indirectly holds approximately 66.85% of Lufax's issued share capital.
These 2026 Agreements, effective January 1, 2026, include framework agreements for provision and purchasing of services and products, financial services, account management, and collaboration with Ping An Consumer Finance, with most agreements having a three-year term.
Transactions under the 2026 Services and Products Purchasing, 2026 Financial Services, 2026 Ping An Consumer Finance Collaboration, and 2026 Account Management Framework Agreements require independent shareholders' approval due to their significant applicable percentage ratios, exceeding 5%.
For 2026, the proposed annual cap for fees payable by the Group under the 2026 Services and Products Purchasing Framework Agreement is RMB1,834.1 million.
Key proposed annual caps for 2026 under the 2026 Financial Services Framework Agreement include a maximum daily balance of RMB21,100.0 million for deposits with Ping An Bank and RMB4,151.6 million for wealth management products.

Nov 26, 2025, 9:03 PM

Lufax Holding Ltd Reports October 2025 Share Capital Movements

Convertible Preferred Issuance

Executive Compensation

Lufax Holding Ltd's authorized share capital remained at 10,000,000,000 ordinary shares (total par value USD 100,000) and issued ordinary shares (excluding treasury shares) remained at 1,733,377,784 for the month ended October 31, 2025.
During October 2025, 32,809 share options lapsed under the 2014 Share Incentive Plan, resulting in 8,827,622 options outstanding at month-end, with no funds raised from option exercises.
As of October 31, 2025, 12,710,339 shares (equivalent to 6,355,169 ADSs) are available for future grant under the 2019 Performance Share Unit Plan.
The company has Ping An Convertible Promissory Notes worth USD 976,900,000 outstanding, which could lead to the issuance of 421,077,586 shares at a conversion price of USD 2.32.

Nov 6, 2025, 10:30 PM

Lufax Holding Ltd Announces Chief Risk Officer Change, Financial Reporting Delays, and Q3 2025 Operational Highlights

Management Change

Delisting/Listing Issues

Demand Weakening

Lufax Holding Ltd announced a change in its Chief Risk Officer, with Ms. Youn Jeong LIM resigning and Mr. Jianbo Cheng appointed effective October 24, 2025.
The company is facing financial reporting delays, unable to publish interim results for the six months ended June 30, 2025, and has requested an extension to file its 2024 Form 20-F by April 30, 2026. Trading of its ordinary shares on the Stock Exchange of Hong Kong remains suspended since January 28, 2025.
For Q3 2025, the total outstanding balance of loans decreased by 11.0% year-over-year to RMB189.6 billion, while total new loans enabled increased by 12.8% year-over-year to RMB56.9 billion.
Delinquency rates increased in Q3 2025, with the DPD 30+ delinquency rate for total loans (excluding consumer finance subsidiary) rising to 5.1% as of September 30, 2025, from 4.6% as of June 30, 2025.

Oct 24, 2025, 12:54 PM

Lufax Announces Chief Risk Officer Change

Management Change

Lufax Holding Ltd announced the immediate resignation of Ms. Youn Jeong LIM as Chief Risk Officer due to personal work arrangements.
Mr. Jianbo Cheng has been appointed as the new Chief Risk Officer of the Company, effective October 24, 2025.
Mr. Cheng joined Lufax in April 2025 as Chief Risk Expert and previously served as General Manager of Pudao Credit Co., Ltd. and held senior risk management roles at Jingdong Digits Technology Holding Co., Ltd. and JD.com, Inc..

Oct 24, 2025, 11:00 AM

Lufax Holding Ltd Shareholders Approve Collaboration Agreement

Proxy Vote Outcomes

New Projects/Investments

Lufax Holding Ltd announced the successful adoption of a key resolution at its Extraordinary General Meeting held on September 30, 2025.
Shareholders approved the 2025 Ping An Consumer Finance Collaboration Supplemental Agreement and proposed revised annual caps for the year ending December 31, 2025.
The resolution passed with an overwhelming majority, receiving 225,780,353 votes (99.90%) in favor.
Major shareholders, An Ke Technology and Ping An Overseas Holdings, representing approximately 66.85% of issued and outstanding shares, abstained from voting as required.