Earnings ·
Lufax warns of RMB1.3B-RMB1.7B Q3 net loss; appoints Jia Liu as CFO
LULufax Holding Ltd
Lufax Holding Ltd expects a third-quarter net loss between RMB1,300 million and RMB1,700 million for the period ended September 30, 2026. The widening loss is attributed to increased credit impairment charges, additional tax expenses from deferred tax asset reductions, and funding plan adjustments following the maturity of convertible notes. Concurrently, the company appointed Ms. Jia Liu as Chief Financial Officer effective October 16, 2026. Lufax operates in the financial services sector, providing financing products to small business owners in China.